Tuesday, December 2, 2008

Mid Session Market - Dec 02, 2008

The markets are still trading lower as selling pressure continued across the board. The weak sentiments across the globe have added to the negative sentiments today. The Metal, Auto, IT, Realty, Oil & Gas and Banking stocks have weighed on the selling pressure today. The BSE Mid Cap and the BSE Small Cap index are also trading lower with a loss of around 2% each.

The BSE Sensex is now trading around the 8,600 mark and the NSE Nifty hovering around the 2,600 mark.

The overall market breadth is negative as 416 stocks are advancing while 1311 stocks are declining and the 61 stocks remained unchanged on BSE.

On the global market front, the Asian Markets are trading lower as Hang Seng, Nikkei, Straits Times and Shanghai Composite index are trading lower by (4.77%), (6.35%), (2.09%) and (0.39%) respectively. The Japanese markets plunged the most today on reports that the Bank of Japan board has voted unanimously to keep policy rate steady.

HUL reported the top gainer from the BSE Sensex pack as it was trading higher by (0.24%) at Rs. 233 while Mahindra & Mahindra the top loser down by (8.10%) at Rs. 250.10.

The BSE Mid cap is lower by 66.43 points at 2,780.04 and the BSE small Cap slipped by 64.41 points to trade at 3,233.32.

At 12.31 pm, BSE Sensex was at 8,608.66 down by 231.21 points while the NSE Nifty was at 2,611.40 down by 71.50 points.

BSE IT index declined by 92.29 points to trade at 2,441.40 as HCL Technologies (7.62%), Wipro (4.11%), TCS (4.03%), Satyam Computer (3.75%) and Patni Computer (3.55%) are trading in negative.

BSE Metal index dropped by 201.46 points at 4,150.41 as Sterlite Industries (8.09%), Jindal Saw (5.28%), NMDC (5.20%) and Sesa Goa (5.10%) are trading in red.

BSE Bankex index is trading lower by 181 points at 4,284.82. Losers are HDFC Bank (4.93%), SBI (4.68%), Bank of India (4.03%), AXIS Bank (3.50%) and Kotak Bank (3.02%).

BSE Oil & Gas index is trading 199.35 points lower at 5,334.02 as Cairn India (5.77%), Essar Oil (4.48%), ONGC (3.85%), RNRL (1.62%) and BPCL (0.81%) are trading in negative.

BSE Capital goods index dropped by 217.19 points to 5,928.22. The main losers are Gammon India (5.63%), Punj Lloyd (4.84%), Praj Industries (4.29%), BHEL (2.74%) and L&T (2.88%).

BSE Power index is trading 41.38 points lower at 1,528.68. The main losers are Suzlon Energy (3.93%), Power Grid (2.93%), Reliance Power (2.76%), GVK Power (2.79%) and Torent Power (1.96%).

BSE Realty index slipped by 59.22 points to 1,418.43. The major losers are Ansal Infra (7.10%), Omaxe Ltd. (5.88%), Parsavnath (4.89%), DLF (4.59%) and Sobha Developers (3.43%).

BSE Auto declined by 80.70 points to 2,141.63. Leading to its fall are Mahindra & Mahindra (7.92%), Maruti Suzuki (7.13%), Ashok Leyland (3.05%) and Tata Motors (2.34%).

No comments: