Friday, July 4, 2008

Mid Session Market - July 4, 2008

The market didn’t react much to the inflation number and is still trading higher. The inflation for the week ended June 21 moved higher to 11.63 per cent from 11.42 per cent in the previous week. The frontline indices are facing the most buying momentum. The buying support is seen in the Realty, Capital Goods Power and FMCG stocks. The BSE Mid Cap and Small Cap stocks are also trading marginally higher. The BSE Sensex is trading above the 13200 mark and the NSE Nifty is trading near the 4000 mark.

The overall market breadth is negative 1144 stocks are advancing while 1180 stocks are declining and the 78 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 34.80 points at 5,196.56 and the BSE small Cap is up by 14.94 points to trade at 6,364.11.

At 12.30 pm, BSE Sensex was at 13,283 up by 188.89 points and Nifty was at 3,975.40 up by 49.65 points.

BSE Capital goods index surged by 243.41 points to 10,250.69. The main gainers are Siemens (6.24%), BHEL (2.56%), L&T (2.20%) and ABB (0.75%).

BSE Realty advanced by 68.09 points to 4,363.31. Leading to its gain are DLF (5.87%), HDIL (5.26%), Ansal Infrastructure (4.07%), Unitech (4.42%) are trading higher.

BSE Power index increased by 42.67 points to 2,216.30. The main gainers are Reliance Infra (4.48%), Suzlon Energy (4.72%), GVK Power (2.47%), Reliance Power (3.26%).

BSE Oil & Gas index was trading 69.40 points lower at 8,853.07 as Essar Oil (4.44%), Cairn India (3.05%), Indan Oil (1.67%) and ABN Offshore (0.19%) are trading in negative.

BSE Bankex index is trading lower by 43.19 points at 5,604.60. Losers are Canara Bank (4.22%), Union Bank (4.09%), Bank of Baroda (2.77%) and Kotak Bank (0.98%).

BSE IT index inclined by 4.17 points to trade at 4,042.79 as I-Flex (2.60%), HCL Technologies (1.72%), Wipro (1.57%), Infosys Technologies (1.32%), and Mphasis (0.82%) are trading in green.

BSE Health Care down by 4.21 points at 4,103.37. The top losers are Sun Pharma (2.83%), IPCA Lab (1.51%), Biocon (1.17%) and Cipla (0.95%).

BSE Metal index dropped by 293.14 points to trade at 11,820.41. The major losers are Tata Steel (4.42%), Sterlite Industries (3.87%), Sail (2.69%) and Nalco (0.09%).

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