Monday, November 24, 2008

Mid Session Market - Nov 24, 2008

The markets are now trading flat with a little bit of volatility and are swinging in between the positive and negative territory. The buying momentum is seen among the Power, IT, Capital Goods, FMCG and Auto stocks. However, the Banking, Realty, Consumer Durables and Metal stocks are facing the selling pressure. The BSE Mid Cap and the BSE Small Cap index are however trading with marginal loss.

The BSE Sensex is now trading around the 8,900 mark and the NSE Nifty hovering around the 2,700 mark.

The overall market breadth is negative as 993 stocks are advancing while 1094 stocks are declining and the 67 stocks remained unchanged on BSE.

On the global market front, the Asian markets are trading lower as Shanghai Composite, Hang Seng and Straits Times index slipped by (2.77%), (1.23%) and (1.85%) respectively. The Japanese market is shut today.

Reliance Infra reported the top gainer from the BSE Sensex pack as it was trading higher by (5.52%) at Rs. 512 while Sterlite Industries the top loser down by (4.18%) at Rs. 209.60.

The BSE Mid cap is lower by 8.26 points at 2,908.40 and the BSE small Cap slipped by 11.39 points to trade at 3,379.37.

At 12.31 pm, BSE Sensex was at 8,903.68 down by 11.53 points while the NSE Nifty was at 2,701.95 up by 8.50 points.

BSE Metal index slipped by 42.16 points at 4,335.44 as Sesa Goa (13.18%), Sterlite Industries (4.25%), Tata Steel (1.28%) and JSW Steel (1.05%) are trading in red.

BSE Bankex index is trading lower by 152.22 points at 4,446.68. Losers are AXIS Bank (4.07%), IDBI Bank (3.37%), ICICI Bank (3.61%), PNB (2.87%) and SBI (2.73%).

BSE Oil & Gas index is trading 44.50 points lower at 5,506.39 as Cairn India (1.10%), RPL (0.47%), BPCL (0.43%) and Essar Oil (0.15%) are trading in negative.

BSE Capital goods index improved by 17.64 points to 6,574.01. The main gainers are Punj Lloyd (3.43%), Praj Industries (2.13%), L&T (1.56%), BHEL (1.23%).

BSE IT index inclined by 16.79 points to trade at 2,474.34 as TCS (3.55%), HCL Technologies (3.45%), Infosys Technologies (1.29%) are trading in positive.

BSE Power index is trading 14.36 points higher at 1,603. The main gainers are Reliance Power (4.12%), GVK Power (3.82%), Torent Power (3.21%), Tata Power (2.22%) and Power Grid (1.49%).

BSE Realty index dropped by 58.62 points to 1,586.80. The major losers are Unitech (7.38%), Parsavnath (3.44%), DLF (2.62%), Sobha Developers (2.20%) and Ansal Infra (1.99%).

BSE Auto declined by 2.04 points to 2,303.08. Leading to its fall are Bajaj Auto (2.44%), Mahindra & Mahindra (1.39%) while Hero Honda (4.12%), Tata Motors (2.25%) and Maruti Suzuki (1.26%).

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