Friday, July 11, 2008

Mid Session Market - July 11, 2008

The market has lost further grounds and is trading in deep red on the back of the inflation number that came in more shocking. The inflation number for the weak ended stood at 11.89% for the week ended June 28 as against 11.63% in earlier week. The most selling pressure is witnessed in the IT, Capital Goods, Power and FMCG stocks.

The overall market breadth is positive 1165 stocks are advancing while 1156 stocks are declining and the 88 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 14.90 points at 5,460.30 while the BSE small Cap is up by 15.70 points to trade at 6,824.94.

At 12.30 pm, BSE Sensex was at 13,716.77 down by 209.47 points and Nifty was at 4,114.90 down by 47.30 points.

BSE Capital goods index inclined by 66.29 points to 11,406.34. The main gainers are ABB (1.75%), Siemns (1.33%), BHEL (1.14%) and Punj Lloyd (0.60%).

BSE Oil & Gas index was trading 75.95 points higher at 9,155.54 as Cairn India (3.72%), RNRL (2.09%), ABN Offshore (1.99%) and ONGC (0.62%) are trading in positive.

BSE Bankex index is trading higher by 39.57 points at 6,204.82. Gainers are PNB (2.75%), AXIX Bank (2.50%), Kotak Bank (1.76%), SBI (1.22%).

BSE Metal index surged by 220.89 points at 13,180.06 as Sterlite Industries (4.33%), Nalco(4.09%), Hindalco Industries (3.48%), Gujarat NRE (2.07%) and SAIL (1.93%) are trading in green.

BSE Power index increased by 10.31 points to 2,459.09. Gainers are GVK power (1.31%) and ABB(0.09%) while Tata Power (2.75%), Suzlon Energy (1.25%), Reliance Power (1.08%), NTPC (1.02%) are leading the losers.

BSE IT index dropped by 79.42 points to trade at 4,109.98 as TCS (4.26%), Infosys Technologies (4.11%), Wipro (3.41%), I-Flex (1.84%) and Tech. Mahindra (1.74%) trading in negative.

BSE Health Care index up by 27.04 points to trade at 4,181.76. Leading to its gains are Glenmark Pharma (3.28%), Biocon (2.07%), Fortis Healthcare (1.35%).

BSE Realty index advanced by 86.84 points to 4,962.86. The major gainers are

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