Wednesday, March 26, 2008

Profit Booking Led The Market To Drift Down Further

The market drifts down further as the profit booking across the counters prevails. The investors are taking calculated steps in booking their positions. Among the Sensex pack, 14 stocks are trading in green while 16 stocks are trading in red.

At 1.30PM, the BSE Sensex is trading lower by 93 points at 16,124 while NSE Nifty is trading down by 33.05 points at 4,844.45.

Most buying is seen from the BSE Mid Cap and Small Cap baskets as they are trading higher by 52.61 points and 109.45 points at 6,227.40 and 7,394.09 respectively.

Leading the rally from the gainers pack of BSE are Gujarat NRE trading up by (12.19%) at Rs138.55 in line with Indbull real by (9.12%) at Rs475, Indiabulls by (8.42%) at Rs450, Essar Ship by (7.36%) at Rs144.50, Maytas Infra by (7.33%) at Rs675 and Indus Ind bank by (6.67%) at Rs85.50,

From the bankex index, Yes bank trading up by (5.06%) at Rs180.75 along with Axis bank by (4.27%) at Rs826, BOI by (3.45%) at Rs272.80, Cent BOP by (2.08%) at Rs46.70, HDFC bank by (1.70%) at Rs1442, Andhra bank by (1.34%) at Rs75.55, Kotak bank by (1.15%) at Rs635, Allahabad bank by (0.38%) at Rs80, Canara bank by (0.61%) at Rs230.35 and SBI by (0.28%) at Rs1745.15.

From the IT index, Mphasis is trading up by (4.19%) at Rs190.20 followed by Karut Net by (2.83%) at Rs167.25, Moser Baer by (2.50%) at Rs130.95 while HCL tech is trading lower by (3.79%) at Rs275.10 along with Niit ltd by (2.55%) at Rs97.30, Wipro by (1.53%) at Rs428.05, Niit tech by (1.52%) at Rs100.70, Aptech by (1.52%) at Rs204 and GTL Ltd by (1.23%) at Rs240.

In the telecommunication sector, Tata communications is trading higher by (1.8%) at Rs565 in line with Idea Cellular by (1.02%) at Rs99 while Bharti Airtel is trading lower by (4.32%) at Rs798 along with Reliance Communications by (2.23%) at Rs527.

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