Monday, November 17, 2008

Mid Session Market - Nov 17, 2008

The markets have lost further grounds and are trading in deep red as selling pressure continued across the board. The Realty, Metal, Banking, Oil & Gas, Power and Capital Goods are facing the most selling pressure today. The BSE Mid Cap and the BSE Small Cap index are also trading lower with a cut of 3% each.

The BSE Sensex is now trading below the 9,000 mark and the NSE Nifty is hovering around the 2,700 mark.

The overall market breadth is negative as 426 stocks are advancing while 1748 stocks are declining and the 58 stocks remained unchanged on BSE.

On the global market front, the Asian markets are trading mixed as Nikkei 225, Shanghai Composite and KLSE Composite index are trading higher by (0.71%), (0.12%) and (0.75%) respectively. While Hang Seng and Straits Times index are trading lower by (0.51%) and (0.73%) respectively. Japan has also now enter into the recession after the Japan economy shrank at an annual pace of 0.4% in the July-September quarter, marking a two straight quarters of contraction.

Reliance Infra reported the top loser from the BSE Sensex pack as it was trading lower by (8.63%) at Rs. 472 followed by HDFC down by (7.65%) at Rs.1,439.

The BSE Mid cap is lower by 108.75 points at 3,107.33 and the BSE small Cap slipped by 109.47 points to trade at 3,655.58.

At 12.31 pm, BSE Sensex was at 8,989.27 down by 396.15 points while the NSE Nifty was at 2,703.65 down by 106.70 points.

BSE Metal index dropped by 288.80 points at 4,584.60 as Jindal Saw (8.37%), Gujarat NRE (7.68%), SAIL (6.40%), Sterlite Industries (6.21%) and Tata Steel (5.92%) are trading in red.

BSE Bankex index is trading lower by 283.68 points at 4,872.08. Losers are Axis Bank (8.06%), Kotak Bank (7.50%), HDFC Bank (6.63%), ICICI Bank (5.70%) and PNB (3.56%).

BSE Oil & Gas index is trading 232.67 points lower at 5,449.78 as Essar Oil (10.63%), RNRL (5.83%), Cairn India (7.51%) and RPL (3.55%) are trading in negative.

BSE Capital goods index slipped by 229.46 points to 6,721.86. The main losers are Praj Industries (10.20%), Punj Lloyd (5.11%), Havells India (5.14%), Crompton Greaves (6.14%) and Gammon India (3.18%).

BSE IT index declined by 77.57 points to trade at 2,490.30 as Satyam Computer (3.86%), TCS (3.21%), Wipro (2.45%), Mphasis (2.97%) are trading in negative.

BSE Power index is trading 56.69 points lower at 1,613.53. The main losers are GVK Power (6.78%), Tata Power (5.43%), Reliance Power (3.03%), Suzlon Energy (3.57%).

BSE Realty index slipped by 142.59 points to 1,868.94. The major losers are Unitech (10.82%), Mahindra Life (10.71%), Sobha Developers (7.89%) and India Bull Real (9.51%).

BSE Auto declined by 59.97 points to 2,379.54. Leading to its fall are Tata Motors (3.98%), Ashok Leyland (3.59%), Bajaj Auto (3.01%) and Hero Honda (1.89%).

No comments: