Monday, June 2, 2008

Mid Session Market

The market is now off the day’s high and has lost further ground as some pressure witnessed in the selective scrips mainly led by the Metal and power stocks. However, the buying interest is seen in the IT, Auto, Pharma and Consumer Durables stocks. The broader market is trading flat as the BSE Mid Cap is trading lower while the BSE Small Cap is trading in green. The BSE Sensex has gone below the 16500 mark and the NSE Nifty is trading around the 4850 mark

The overall market breadth is positive, as 1220 stocks are advancing while 1115 stocks are declining and the 73 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 13.46 points at 6,747.08 while the BSE small Cap advanced by 10.68 points to trade at 8,143.72.

At 12.30 pm, BSE Sensex was at 16,429.67 up by 14.09 points and Nifty was at 4,864.85 down by 5.25 points.

BSE Oil & Gas index was trading 77.13 points higher at 10,473.98 as Essar Oil (6.24%), RPL (2.22%), RNRL (1.09%) and Cairn India (0.37%) are trading in green.

BSE Capital goods index advanced by 45.65 points to 13,196.29. The main gainers are ABB (2.82%), L&T (0.67%) and Siemens (0.09%).
Larsen & Tourbo is set to bid for building the new greenfield airport at Muscat in Oman. The contract value was expected to be in the region of Rs 2,500-3,000 crore.

BSE IT index inclined by 60.11 points to trade at 4,703.90 as Satyam Computer (1.87%), Mphasis (1.35%), I-Flex (1.23%),and Infosys Technologies (1.11%) are trading in green.

BSE Bankex index is trading higher by 25.93 points at 7,740.52. Gainers are Indian Overseas Bank (2.55%), SBI (1.50%), PNB (1.43%) and Bank of India (1.02%).

BSE Realty increased by 29.60 points to 7,038.26. Leading to its gain are Parsavnath (1.32%), HDIL (0.86%), Omaxe Ltd. (0.98%) and DLF (0.53%).

BSE Auto grew by 52.29 points to 4,408.05. Leading to its gain are TVS Motor (6.04%), Hero Honda (5.06%), Maruti Suzuki (1.97%) and Ashok Leyland (1.12%).

BSE Metal index dropped by 94.66 points to trade at 16,819.97. The major losers are Hindalco Industries (3.02%), NALCO (1.29%), Tata Steel (1.21%) and Gujarat NRE (0.65%).

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