Friday, June 27, 2008

Mid Session Market - June 27,2008

The market has recovered a bit from the day’s low but is still trading with a deep cut as strong selling continued across the board. All the key benchmark indices are still trading in red. The market didn’t react much to the inflation number. The inflation for the week ended June 14 came in at 11.42% as against 11.05% in earlier week. The Bank, Realty, Capital Goods and Auto stocks are the most unfavoured stocks today. The Realty, Power, Auto and Pharma stocks are facing the selling pressure today. The BSE Mid Cap and BSE Small Cap are also trading with a cut of more than 2% each.

The overall market breadth remains negative 464 stocks are advancing while 1932 stocks are declining and the 55 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 153.62 points at 5,588.42 and the BSE small Cap is down by 157.19 points to trade at 6,971.89.

At 12.30 pm, BSE Sensex was at 13,949 down by 472.82 points and Nifty was at 4,190.75 down by 125.10 points.

BSE Oil & Gas index was trading 218.41 points higher at 9,458.97 as BPCL (5.32%), GAIL India (3.91%),and ONGC (2.95%) are trading in red.

BSE Metal index slipped by 298.24 points to trade at 13,625.17. The major losers are NALCO (6.66%), Sterlite Industries (3.71%), SAIL (3.39%) and Hindalco Industries (1.62%).

BSE Capital goods index dropped by 399.68 points to 10,487.55. The main losers are L&T (4.74%), BHEL (3.58%), Siemens (3.57%) and ABB (3.43%).

BSE IT index declined by 129.86 points to trade at 4,052 as Wipro (7.16%), HCL Technologies (5.43%), Infosys Technologies (2.76%) and Satyam Computer (2.35%) are trading in red.

BSE Power index decreased by 85.98 points to 2,368.93. The main losers are Tata Power (4.23%), Power Grid (3.46%), NTPC (2.32%) and Suzlon Energy (1.36%).

BSE Health Care down by 33.61 points at 4,175.54. The top losers are Divi’s Lab (2.59%), Cipla (2.61%), Cadila Healthcare (1.52%) and Pfizer (1.24%).

BSE Bankex index is trading lower by 290.17 points at 6,181.42. Losers are ICICI Bank (5.84%), HDFC Bank (4.76%), PNB (3.66%) and SBI (3.39%).

BSE Realty dropped by 186.83 points to 4,915.60. Leading to its fall are India Bull Real (7.32%), Mahindra Life (5.27%), HDIL (3.49%), DLF (3.15%) are trading lower.

BSE Auto fell by 162.78 points to 3,731.97. Leading to its fall are Mahindra & Mahindra (6.99%), Tata Motors (6.02%), Hero Honda (4.81%) and Maruti Suzuki (3.82%).

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