Tuesday, May 6, 2008

Market Backed By Unfavouring Cues From Global Markets

The market today opens flat backed by some unfavouring cues from the global markets. The most selling witnessed among the frontline indices. While the broader market open reasonably higher. The modest buying witnessed in the Consumer Durables. Metal, FMCG and Oil & Gas stocks. However, the IT, Realty and Auto stocks are in pressure in the opening trade.

The overall market breadth is positive as 998 stocks are advancing whereas 731 stocks are declining on BSE.

At 10.30AM, the BSE Sensex was down by 67.17 points at 17,423.73 and the Nifty was down by 14.05 points to 5,178.20.

The BSE Mid Cap increased by 15.28 points to 7,314.55 and the BSE Small Cap advanced by 9.74 points to 8,855.09.

ITC reported the top gainer from the BSE Sensex pack. It is trading with a gain of 1.99% at Rs.225.10 while Bharti Airtel reported the top loser down by 3.79% at Rs.860.

BSE Metal index surged by 113.57 points to trade at 16,000.57. The major gainers are Sterlite Industries, Tata Steel, SAIL and Hindalco Industries grew by (2.25%), (1.63%), (1.37%) and (1.36%) to Rs.839.80, Rs.817, Rs.184.50 and Rs.185.85 respectively.

BSE Oil & Gas index advanced by 43.63 points to trade at 11,742.81. The top gainers are Cairn India inclined by (2.33%) to Rs.260.80, ONGC increased by (0.89%) at Rs.1049.10 followed by GAIL India and Reliance Petroleum up by (0.74%) and (0.55%) to Rs.444.50 and Rs.202.

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