The market today opens lower after a sharp five days winning rally backed by some profit booking emerged in the frontline indices and weak global cues. The selling pressure is seen in the IT and Auto stocks. The broader market however outperformed the benchmark index in the opening trade.
The overall market breadth is positive as 1099 stocks are advancing whereas 695 stocks are declining on BSE.
On the primary market front, Kiri Dyes and Chemicals listed at Rs 184 as against its issue price of Rs 150.
At 10.30AM, the BSE Sensex was down by 38.93 points at 16,700.40 while the Nifty was marginally up by 0.45 points to 5,037.45.
The BSE Mid Cap increased by 42.73 points to 7,025.99 and the BSE Small Cap advanced by 55.27 points to 8,808.10.
Jai Prakash Associate reported the top gainer from the BSE Sensex pack. It is trading with a gain of 2.72% at Rs.239.40 while TCS reported the top loser down by 7.44% at Rs.919.45.
BSE IT index dropped by 136.74 points to trade at 3,971.40. The major losers are TCS, Satyam Computers, Wipro and HCL Technologies fell by (7.44%), (4.67%), (3.47%) and (3.39%) to Rs.919.45, Rs.437.55, Rs.439 and Rs.265 respectively.
BSE Power index advanced by 24.78 points to trade at 3,306.07. The top gainers are NTPC inclined by (2.09%) to Rs.198.25, Power Grid increased by (0.82%) at Rs.104.95 followed by Tata Power and Suzlon Energy up by (0.17%) and (0.13%) to Rs.1318.45 and Rs.305.95.
Reliance Industries is trading lower by (0.31%) at Rs.2635.50. The company reported a 24% rise in net profit for the fourth quarter ended March 31, 2008. The net profit rose to Rs 3,912 crore against Rs 3,156 crore in the same quarter a year ago. Net income for the quarter grew 36.27 per cent to Rs 37,575 crore from Rs 27,573 crore a year ago.
Hero Honda advanced by (0.46%) to Rs.750.95. The company has hiked prices of its products between Rs 500 and Rs 1000 in most of its models, including Splendor Plus, Passion Plus, CBZ, Ambition and Hunk.
The overall market breadth is positive as 1099 stocks are advancing whereas 695 stocks are declining on BSE.
On the primary market front, Kiri Dyes and Chemicals listed at Rs 184 as against its issue price of Rs 150.
At 10.30AM, the BSE Sensex was down by 38.93 points at 16,700.40 while the Nifty was marginally up by 0.45 points to 5,037.45.
The BSE Mid Cap increased by 42.73 points to 7,025.99 and the BSE Small Cap advanced by 55.27 points to 8,808.10.
Jai Prakash Associate reported the top gainer from the BSE Sensex pack. It is trading with a gain of 2.72% at Rs.239.40 while TCS reported the top loser down by 7.44% at Rs.919.45.
BSE IT index dropped by 136.74 points to trade at 3,971.40. The major losers are TCS, Satyam Computers, Wipro and HCL Technologies fell by (7.44%), (4.67%), (3.47%) and (3.39%) to Rs.919.45, Rs.437.55, Rs.439 and Rs.265 respectively.
BSE Power index advanced by 24.78 points to trade at 3,306.07. The top gainers are NTPC inclined by (2.09%) to Rs.198.25, Power Grid increased by (0.82%) at Rs.104.95 followed by Tata Power and Suzlon Energy up by (0.17%) and (0.13%) to Rs.1318.45 and Rs.305.95.
Reliance Industries is trading lower by (0.31%) at Rs.2635.50. The company reported a 24% rise in net profit for the fourth quarter ended March 31, 2008. The net profit rose to Rs 3,912 crore against Rs 3,156 crore in the same quarter a year ago. Net income for the quarter grew 36.27 per cent to Rs 37,575 crore from Rs 27,573 crore a year ago.
Hero Honda advanced by (0.46%) to Rs.750.95. The company has hiked prices of its products between Rs 500 and Rs 1000 in most of its models, including Splendor Plus, Passion Plus, CBZ, Ambition and Hunk.
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