Date : Mar-02-2009 13:33
The key benchmark indices traded weak due to confidence crisis in the market. The worsening US slump and continuous fall in Asian market provoked the worries for equity market. The expectation from RBI to pump in money into the market by reducing the key rates is still awaited. Moreover, according to biggies of equity market – the market will see some recovery from first quarter of 2010. Due to this, the investors are losing confidence in the market and are away from the market. Meanwhile, continuous selling from FIIs is also pulling the key indices lower.
On the sectoral front, traders off-loaded position across the sectors. Auto stocks advanced jumped after some auto firms announced jump in February 2009 vehicle sales. Baking stocks fell on fears of rising defaults in a weakening economy and on fall in ADRs. IT stocks fell on fears a weak global economy would cut the IT spending.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,233 stocks traded so far, 731 shares advanced while 1,405 shares declined. Nearly 97 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 223.66 points at 8,667.95 and NSE Nifty is down by 71.45 points at 2,692.20.
The BSE Mid Cap is trading lower by 32.59 points at 2,725.69 and Small cap is trading down by 29.17 points at 3,076.83.
Major losers from the BSE Sensex pack are Tata Steel plunged 6.21% to Rs. 161.65 along with ICICI Bank tumbled 4.37% to Rs. 313.75, HDFC Bank fell by 3.94% to Rs. 850.00, ONGC by 3.85% to Rs. 664.55, Reliance Infra by 3.29% to Rs. 474.45, TCS Ltd by 3.17% to Rs. 465.35, Reliance Communication by 3.02% to Rs. 150.75, ACC Ltd by 2.90% to Rs. 524.15, Hindustan Uniliver by 2.76% to Rs. 246.80, and Bharti Airtel by 2.61% to Rs. 620.05 among others.
Major gainers from the BSE Sensex pack are Mhindra & Mahindra Ltd fell by 4.16% to Rs. 322.80 along with Tata Motors by 2.17% to Rs. 152.70, Maruti Suzuki by 1.44% to Rs. 687.35 and Ranbaxy Labs by 0.37% to Rs. 162.40.
The BSE Bankex index is lower by 138.19 points or 3.26% at 4,101.91. Stocks trading in red are Axis Bank by 4.50% to Rs. 332.30, ICICI Bank by 4.37% to Rs. 313.75, HDFC Bank by 3.94% to Rs. 850.00, Oriental Bank by 3.74% to Rs. 110.80, Punjab National Bank by 3.41% to Rs. 326.00 and Yes Bank by 3.31% to Rs. 49.60 among others.
Tata Steel fell 6.21% to Rs. 161.65 on profit selling after the stock rose over 7% in the past three trading sessions.
Edserv Softsystems trading at Rs. 139.55, a 132.58% premium to its issue price of Rs. 60 a share on its listing.
Fortis Healthcare jumped 5.16% to Rs. 68.30 after multiple block deals on BSE and NSE.
Reliance Industries fell 2.07% to Rs. 1,238.90 after the company set the swap ratio for merger of Reliance Petroluem slightly in favour of Reliance Petroleum.
TVS Motor Company rose 5.17% to Rs. 20.35 on reports the company has posted a 13% rise in its two-wheeler sales to 1,07,301 units in February 2009 over February 2008.
Hindustan Dorr Oliver rose 3.46% to Rs. 32.90 after the company won an engineering order worth Rs. 24 crore from HPCL-Mittal Energy.
Seamec Ltd fell 6.70% to Rs. 55.70 snapping a solid surge in the previous three trading sessions, on profit booking.
HMT jumped 10% to Rs. 31.90 on reports the company is one among 10 sick public sector units whom the government has allowed the unit to sell surplus land for raising resources to turnaround its balance sheet.
Aurobindo Pharma fell by 1.20% to Rs. 147.90 despite the company through its wholly owned subsidiary Aurobindo Pharma Australia Pty Ltd received it''s first approval from Therapeutic Goods Administration (TGA), Government of Australia for the registration of Auro-Lisinopril 5, Auro-Lisinopril 10 and Auro-Lisinopril 20 tablets containing Lisinopril (as dihydrate) 5mg, 10mg and 20mg.
The key benchmark indices traded weak due to confidence crisis in the market. The worsening US slump and continuous fall in Asian market provoked the worries for equity market. The expectation from RBI to pump in money into the market by reducing the key rates is still awaited. Moreover, according to biggies of equity market – the market will see some recovery from first quarter of 2010. Due to this, the investors are losing confidence in the market and are away from the market. Meanwhile, continuous selling from FIIs is also pulling the key indices lower.
On the sectoral front, traders off-loaded position across the sectors. Auto stocks advanced jumped after some auto firms announced jump in February 2009 vehicle sales. Baking stocks fell on fears of rising defaults in a weakening economy and on fall in ADRs. IT stocks fell on fears a weak global economy would cut the IT spending.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,233 stocks traded so far, 731 shares advanced while 1,405 shares declined. Nearly 97 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 223.66 points at 8,667.95 and NSE Nifty is down by 71.45 points at 2,692.20.
The BSE Mid Cap is trading lower by 32.59 points at 2,725.69 and Small cap is trading down by 29.17 points at 3,076.83.
Major losers from the BSE Sensex pack are Tata Steel plunged 6.21% to Rs. 161.65 along with ICICI Bank tumbled 4.37% to Rs. 313.75, HDFC Bank fell by 3.94% to Rs. 850.00, ONGC by 3.85% to Rs. 664.55, Reliance Infra by 3.29% to Rs. 474.45, TCS Ltd by 3.17% to Rs. 465.35, Reliance Communication by 3.02% to Rs. 150.75, ACC Ltd by 2.90% to Rs. 524.15, Hindustan Uniliver by 2.76% to Rs. 246.80, and Bharti Airtel by 2.61% to Rs. 620.05 among others.
Major gainers from the BSE Sensex pack are Mhindra & Mahindra Ltd fell by 4.16% to Rs. 322.80 along with Tata Motors by 2.17% to Rs. 152.70, Maruti Suzuki by 1.44% to Rs. 687.35 and Ranbaxy Labs by 0.37% to Rs. 162.40.
The BSE Bankex index is lower by 138.19 points or 3.26% at 4,101.91. Stocks trading in red are Axis Bank by 4.50% to Rs. 332.30, ICICI Bank by 4.37% to Rs. 313.75, HDFC Bank by 3.94% to Rs. 850.00, Oriental Bank by 3.74% to Rs. 110.80, Punjab National Bank by 3.41% to Rs. 326.00 and Yes Bank by 3.31% to Rs. 49.60 among others.
Tata Steel fell 6.21% to Rs. 161.65 on profit selling after the stock rose over 7% in the past three trading sessions.
Edserv Softsystems trading at Rs. 139.55, a 132.58% premium to its issue price of Rs. 60 a share on its listing.
Fortis Healthcare jumped 5.16% to Rs. 68.30 after multiple block deals on BSE and NSE.
Reliance Industries fell 2.07% to Rs. 1,238.90 after the company set the swap ratio for merger of Reliance Petroluem slightly in favour of Reliance Petroleum.
TVS Motor Company rose 5.17% to Rs. 20.35 on reports the company has posted a 13% rise in its two-wheeler sales to 1,07,301 units in February 2009 over February 2008.
Hindustan Dorr Oliver rose 3.46% to Rs. 32.90 after the company won an engineering order worth Rs. 24 crore from HPCL-Mittal Energy.
Seamec Ltd fell 6.70% to Rs. 55.70 snapping a solid surge in the previous three trading sessions, on profit booking.
HMT jumped 10% to Rs. 31.90 on reports the company is one among 10 sick public sector units whom the government has allowed the unit to sell surplus land for raising resources to turnaround its balance sheet.
Aurobindo Pharma fell by 1.20% to Rs. 147.90 despite the company through its wholly owned subsidiary Aurobindo Pharma Australia Pty Ltd received it''s first approval from Therapeutic Goods Administration (TGA), Government of Australia for the registration of Auro-Lisinopril 5, Auro-Lisinopril 10 and Auro-Lisinopril 20 tablets containing Lisinopril (as dihydrate) 5mg, 10mg and 20mg.
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