The markets though managed to recover a bit from the day’s lows but are still trading lower despite the better than expected industrial production data. The selling continued among the selective scrips mainly led by the IT, Banking, Realty, Oil & Gas and Metal stocks. However the Auto index managed to hold its gain and is now trading higher.
The IIP data for the month of July 2008 rose to 7.1% as against 5.4% in the previous month. Capital Goods showed a descent growth to 21.9% as compared to 12.3%(YoY). However, growth in manufacturing declined to 7.5% from 8.8%(YoY).
The BSE Sensex has slipped below the 14200 mark and the NSE Nifty is hovering around the 4300 mark. The BSE Mid Cap and the BSE Small Cap are also trading lower.
The overall market breadth remains negative as 689 stocks are advancing while 1692 stocks are declining and the 71 stocks remained unchanged on BSE.
The BSE Mid cap is lower by 0.67 points at 5,609.45 and the BSE small Cap slipped by 0.43 points to trade at 6,789.55.
At 12.30 pm, BSE Sensex was at 14,201.06 down by 123.23 points and the NSE Nifty was at 4,298.10 down by 7.80 points.
BSE Auto index increased by 27.42 points to 3,988.86. The top gainers are Maruti Suzuki (3.56%), Bajaj Auto (1.25%), and Hero Honda (0.71%).
BSE Oil & Gas index was trading 109.27 points lower at 9,230.47 as Reliance Ind. (1.23%), Gail India (1.10%), RNRL (1.04%), HPCL (0.31%) and BPCL (0.20%) are trading in negative.
BSE Capital goods index dropped by 75.55 points to 11,865.45. The main losers are Siemens (2.27%), Gammon India (2.40%), ABB (1%) and BEML (0.61%).
BSE Realty index slipped by 117.70 points to 4,758.13. The major losers are India Bull Real (2.91%), Ansal Infra (2.35%), Sobha Developers (2.16%), DLF (1.55%) and HDFC (1.14%).
BSE Metal index dropped by 64.45 points at 10,927.34 as Jindal Steel (2.58%), Sterlite Industries (0.76%), Sesa Goa (0.58%) and Gujarat NRE (0.55%) are trading in red.
BSE Bankex index is trading lower by 148.40 points at 7,062.26. Losers are ICICI Bank (2.40%), SBI (1.13%), IDBI Bank (0.45%) and HDFC Bank (0.32%).
BSE IT index declined by 160.73 points to trade at 3,829.71 as Infosys Technologies (5.27%), Satyam Computer (3.24%), HCL Technologies (2%) and TCS (1.51%) trading in negative.
BSE Power index declined by 0.29 points to 2,576.13. Losers are Suzlon Energy (1.63%), Rel Infra. (1.37%), Neyveli Lig. (0.79%)
The IIP data for the month of July 2008 rose to 7.1% as against 5.4% in the previous month. Capital Goods showed a descent growth to 21.9% as compared to 12.3%(YoY). However, growth in manufacturing declined to 7.5% from 8.8%(YoY).
The BSE Sensex has slipped below the 14200 mark and the NSE Nifty is hovering around the 4300 mark. The BSE Mid Cap and the BSE Small Cap are also trading lower.
The overall market breadth remains negative as 689 stocks are advancing while 1692 stocks are declining and the 71 stocks remained unchanged on BSE.
The BSE Mid cap is lower by 0.67 points at 5,609.45 and the BSE small Cap slipped by 0.43 points to trade at 6,789.55.
At 12.30 pm, BSE Sensex was at 14,201.06 down by 123.23 points and the NSE Nifty was at 4,298.10 down by 7.80 points.
BSE Auto index increased by 27.42 points to 3,988.86. The top gainers are Maruti Suzuki (3.56%), Bajaj Auto (1.25%), and Hero Honda (0.71%).
BSE Oil & Gas index was trading 109.27 points lower at 9,230.47 as Reliance Ind. (1.23%), Gail India (1.10%), RNRL (1.04%), HPCL (0.31%) and BPCL (0.20%) are trading in negative.
BSE Capital goods index dropped by 75.55 points to 11,865.45. The main losers are Siemens (2.27%), Gammon India (2.40%), ABB (1%) and BEML (0.61%).
BSE Realty index slipped by 117.70 points to 4,758.13. The major losers are India Bull Real (2.91%), Ansal Infra (2.35%), Sobha Developers (2.16%), DLF (1.55%) and HDFC (1.14%).
BSE Metal index dropped by 64.45 points at 10,927.34 as Jindal Steel (2.58%), Sterlite Industries (0.76%), Sesa Goa (0.58%) and Gujarat NRE (0.55%) are trading in red.
BSE Bankex index is trading lower by 148.40 points at 7,062.26. Losers are ICICI Bank (2.40%), SBI (1.13%), IDBI Bank (0.45%) and HDFC Bank (0.32%).
BSE IT index declined by 160.73 points to trade at 3,829.71 as Infosys Technologies (5.27%), Satyam Computer (3.24%), HCL Technologies (2%) and TCS (1.51%) trading in negative.
BSE Power index declined by 0.29 points to 2,576.13. Losers are Suzlon Energy (1.63%), Rel Infra. (1.37%), Neyveli Lig. (0.79%)
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