Mid Session Market - June 3, 2008

The market is still under pressure as strong selling pressure continued across the board mainly led by the Power, Capital Goods, Realty and IT stocks. However, some buying witnessed in the oil & Gas stocks. The broader market is also trading lower as the BSE Small Cap is trading with a cut of more than 2% and the BSE Mid Ca is trading down by nearly 2%. The BSE Sensex has gone below the 15800 mark and the NSE Nifty is trading around the 4650 mark

The overall market breadth remains extremely negative, as 450 stocks are advancing while 1974 stocks are declining and the 42 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 123.53 points at 6,460.66 while the BSE small Cap dropped by 163.74 points to trade at 7,795.77.

At 12.30 pm, BSE Sensex was at 15,788.25 down by 274.93 points and Nifty was at 4,655.65 down by 83.95 points.

BSE Oil & Gas index was trading 88.57 points higher at 10,295.28 as Cairn India (2.22%), Reliance (1.57%) and HPCL (0.66%) are trading in green.

BSE Capital goods index dropped by 382.94 points to 12,425.81. The main losers are BHEL (4.77%), Siemens (3.49%), L&T (2.81%) and ABB (0.99%).

BSE IT index declined by 96.78 points to trade at 4,483.57 as Satyam Computer (4.72%), HCL Technologies (4.68%), Infosys Technologies (2.30%),and Wipro (1.84%) are trading in red.

BSE Bankex index is trading lower by 100.28 points at 7,354.05. Losers are Indian HDFC Bank (3.93%), PNB (1.42%), ICICI Bank (1.18%) and SBI (1.03%).

BSE Realty decreased by 141.51 points to 6,586.62. Leading to its fall are India Bull Real (6.40%), Purvankara (4.80%), HDIL (4.05%) and Unitech (2.97%).

BSE Auto fell by 11.40 points to 4,346.81. Leading to its fall are Ashok Leyland (3.41%), Maruti Suzuki (2.33%), TVS Motor (1.49%) and Mahindra & Mahindra (1.10%).

BSE Metal index slipped by 156.16 points to trade at 16,139.10. The major losers are NALCO (4.06%), Sterlite Industries (3.54%), Tata Steel (1.51%) and Hindalco Industries (0.77%).