Tuesday, April 22, 2008

Market Is Facing The Volatility

The market is facing the volatility and the market is unable to sustain at higher levels and fell as the profit booking prevails. The cues from the global markets are weak that led to the domestic market to trade on the back foot. The market breadth is strong as 1368 stocks are trading in green while 960 stocks are trading in red.

At 11.31AM, BSE Sensex is trading lower by 59.47 points at 16,679.85 and NSE Nifty is trading down by 24.9 points at 5,012.10. The BSE Mid Cap and Small Cap are trading higher by 19.64 points and 47.12 points at 7,002.90 and 8,799.95 respectively.

The Capital Goods index is trading higher by 172.22 points at 13,841.61. Pushing it are Elecon Eng trading up by (2.58%) at Rs179.05 along with Jyoti Structures by (2.17%) at Rs165, BHEL by (2.06%) at Rs1810, Crompton Greaves by (1.87%) at Rs267.50, L&T by (1.64%) at Rs2892, Thermax by (1.29%) at Rs520.25, Havell India by (1.21%) at Rs494.55 and Lakshmi Machines by (1.04%) at Rs1615.

The Realty index is trading up by 126.99 points at 7,802.76 as Ansal Infra is trading higher by (6.17%) at Rs159.1 followed by Penland by (6.12%) at Rs109.30, Sobha Developers by (2.36%) at Rs618.30, Unitech by (2.30%) at Rs274, Omaxe by (1.48%) at Rs223.15, Parsvnath by (1.29%) at Rs219.50, Anant Raj by (1.26%) at Rs240.95 and Indiabull Real by (1.13%) at Rs501.20.

Losers from the BSE are TCS trading down by (7.66%) at Rs916.50 in line with HCL Tech by (5.18%) at Rs206.05, I-Flex by (4.71%) at Rs1260, Wipro by (4.45%) at Rs433.45, Satyam Comp by (4.27%) at Rs439.35, Dabur India by (4.16%) at Rs108.20, United Breweries by (4.09%) at Rs642 and Chambal Fertlisers by (3.75%) at Rs68.

Bhel is trading up by (2.02%) at Rs1806.95 as the company has won orders worth Rs2030 crore for the supply and installation of the main plant package at 1000mw Nabinagar Thermal Power Plant project in Bihar. The order was placed by Bharathiya Rail Bijlee Company Limited.

NTPC is trading higher by (1.62%) at Rs197.35. The company and BHEL will invest Rs50 million to form a joint venture company to carry out engineering, procurement and construction contracts for power plants and other infrastructure projects.

Reliance Energy is trading up by (0.39%) at Rs1350 as the company’s shareholders have approved the buyback of shares along with change in name and waiving the company’s entitlement to receive bonus shares, which was proposed by Reliance Power.


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