The market is trading marginally lower after paring its initial gains. Domestic market is showing volatility following mixed global cues along with worries about a gloomy outlook for the world economy. However inflation for the week ended 4th October 2008, reduced to 11.44% as against the previous week’s 11.80% mainly due to cooling off global commodity prices. Most of the selling is observed in the Bank, Capital Goods, Reality, Power and Consumer Durables stocks. However buying is seen in Oil & gas, IT, Metal and FMCG stocks. The BSE Sensex is trading below the 10,600 mark and the NSE Nifty is below the 3300. The BSE Mid Cap and the BSE Small Cap stocks are able to gain market favor and are trading marginally higher.
On the global market front, the Asian markets are trading mixed. Nikkei rebounded from its earlier losses and rose 2.1% to 8,636.86, while Hang Seng index lost 0.3% to 15,180.88 and Kospi index plunged 1.6% to 1,194.71.
The overall market breadth is positive as 1180 stocks are advancing while 1101 stocks are declining and the 70 stocks remained unchanged on BSE.
Reliance Infra reported the top loser from the BSE Sensex pack as it was trading down by (4.74%) at Rs.531 followed by NTPC Ltd lower by (4.46%) at Rs.158.4.
Wipro Ltd reported the top gainer from the BSE Sensex pack as it was trading up by (2.9%) at Rs.285.9 followed by TCS Ltd higher by (2.58%) at Rs.508.
The BSE Mid cap is higher by 17.6 points at 3,674.81 and the BSE small Cap gained 15.9 points to trade at 4,302.33.
At 12.30 pm, BSE Sensex was at 10,578.04 down by 3.4 points and the NSE Nifty was at 3,267.65 lower by 1.6 points.
BSE Bankex index is trading down by 96.37 points at 5,770.39. Losers are Kotak Bank (3.95%), ICICI Bank Ltd (3.45%), SBI (2.58%) and Karnataka Bank (2.16%).
BSE Capital Goods index dropped by 68.70 points at 7,596.10 as BHEL (4.80%), Praj Indus (4.20%), Bharat Elect (3.69%) and Siemens Ltd (3.26%) are trading in red.
BSE Reality index was trading 53.77 points lower at 2,759.49. The main losers are Anant Raj (5.28%), Unitech Ltd (5.12%), Akruti City (2.70%) and Ansal Infra (2.41%).
BSE Consumer Durables index declined by 47.43 points to trade at 2,093.47 as Titan Ind (3.51%), Gitanjali GE (3.27%), Videocon Ind (2.40%) and Rajesh Export (0.62%) trading in negative.
BSE Power index decreased by 46.97 points to 1,816.04. Leading to its fall are NTPC Ltd (5.13%), Reliance Infra (4.92%), BHEL (4.65%) and Lanco Infra (3.99%).
BSE Oil & Gas index is trading 76.56 points up at 6,904.33 as HPCL (9.14%), IOC (7.52%), BPCL (6.19%) and Cairn Ind (5.73%) are trading in positive.
BSE Metal index is trading higher by 43.59 points to 6,223.46. The main gainers are Ispat Indus (4.73%), Nalco (3.83%), Welspan Gujarat SR (2.92%) and Jindal Saw (2.37%).
BSE IT index gained 39.76 points to trade at 2,708.93. The major gainers are HCL Tech (6.64%), Rolta India (3.67%), Tech Mahindra (3.50%) and Moser Bayer (3.20%).
On the global market front, the Asian markets are trading mixed. Nikkei rebounded from its earlier losses and rose 2.1% to 8,636.86, while Hang Seng index lost 0.3% to 15,180.88 and Kospi index plunged 1.6% to 1,194.71.
The overall market breadth is positive as 1180 stocks are advancing while 1101 stocks are declining and the 70 stocks remained unchanged on BSE.
Reliance Infra reported the top loser from the BSE Sensex pack as it was trading down by (4.74%) at Rs.531 followed by NTPC Ltd lower by (4.46%) at Rs.158.4.
Wipro Ltd reported the top gainer from the BSE Sensex pack as it was trading up by (2.9%) at Rs.285.9 followed by TCS Ltd higher by (2.58%) at Rs.508.
The BSE Mid cap is higher by 17.6 points at 3,674.81 and the BSE small Cap gained 15.9 points to trade at 4,302.33.
At 12.30 pm, BSE Sensex was at 10,578.04 down by 3.4 points and the NSE Nifty was at 3,267.65 lower by 1.6 points.
BSE Bankex index is trading down by 96.37 points at 5,770.39. Losers are Kotak Bank (3.95%), ICICI Bank Ltd (3.45%), SBI (2.58%) and Karnataka Bank (2.16%).
BSE Capital Goods index dropped by 68.70 points at 7,596.10 as BHEL (4.80%), Praj Indus (4.20%), Bharat Elect (3.69%) and Siemens Ltd (3.26%) are trading in red.
BSE Reality index was trading 53.77 points lower at 2,759.49. The main losers are Anant Raj (5.28%), Unitech Ltd (5.12%), Akruti City (2.70%) and Ansal Infra (2.41%).
BSE Consumer Durables index declined by 47.43 points to trade at 2,093.47 as Titan Ind (3.51%), Gitanjali GE (3.27%), Videocon Ind (2.40%) and Rajesh Export (0.62%) trading in negative.
BSE Power index decreased by 46.97 points to 1,816.04. Leading to its fall are NTPC Ltd (5.13%), Reliance Infra (4.92%), BHEL (4.65%) and Lanco Infra (3.99%).
BSE Oil & Gas index is trading 76.56 points up at 6,904.33 as HPCL (9.14%), IOC (7.52%), BPCL (6.19%) and Cairn Ind (5.73%) are trading in positive.
BSE Metal index is trading higher by 43.59 points to 6,223.46. The main gainers are Ispat Indus (4.73%), Nalco (3.83%), Welspan Gujarat SR (2.92%) and Jindal Saw (2.37%).
BSE IT index gained 39.76 points to trade at 2,708.93. The major gainers are HCL Tech (6.64%), Rolta India (3.67%), Tech Mahindra (3.50%) and Moser Bayer (3.20%).
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