Market is trading lower after a flat opening backed by mixed global cues. The metal and oil & gas stocks are showing good performance while bank, reality and auto stocks are out of favor due to the selling pressure. The market breadth is negative as 870 stocks are trading in green while 1,331 stocks are trading in red.
At 11.30AM, BSE Sensex is trading lower by 45.37 points at 13,756.85 and NSE Nifty is trading down by 4.85 at 4,131.80. The BSE Mid Cap and BSE Small Cap are trading lower by 22.67 points and 24.60 points at 5,536.08 and 6,913.46.
Lossers from the NSE Nifty are Unitech Ltd down by (3.99%) at Rs175.50 along with Grasim Industries Ltd (3.98%) at Rs1,867.00,BPCL by (3.92%) at Rs238.05, HDFC (3.82%) at Rs1,974.00, Tata Motors (3.56%) at Rs428.55 and Tata Power Co by (3.41%) at Rs1,024.00.
The Bank index is trading lower by 118.08 points at 6,007.87 as Yes is trading down by (3.37%) at Rs120.50 followed by Axis Bank (3.33%) at Rs608.00, ICICI Bank Ltd (2.96%) at Rs633.80, Kotak Bank (2.77%) at Rs475.05 and PNB (2.29%) at Rs394.00.
The Reality index is trading down by 102.44 points at Rs4,772.81 as Mahindra Life is trading lower by (3.94%) at Rs428.60 along with Unitech Ltd (3.91%) at Rs175.65, Sobha Dev (2.81%) at Rs288.55, Pheonic Mill by (2.38%) at Rs159.80 and Indiabulls Real by (2.26%) at Rs289.90.
The Metal index is trading up by 160.50 points at Rs13,452.95 as NALCO is trading higher by (3.43%) at Rs344.20 along with Sterlite In (2.73%) at Rs693.65, Maharashtra Seamless (2.21%) at Rs296.30, HINDALCO by (2.12%) at Rs142.30 and Hindustan Zinc by (1.73%) at Rs541.20.
Grasim Industries is trading lower by (4.56%) at Rs1,850.00. IIFL has maintained its market performer rating on Grasim Industries with a target price of Rs 1982 in a research report last weak, but it will be difficult for the company to increase volume of sales much faster than industry growth due to the industry’s aggressive capacity expansions in the northern region.
Satyam Computer is trading higher by (2.26%) at Rs449.75. The company has entered into a partnership with Sciformix, which is a US-based life science knowledge process outsourcing firm, to offer end-to-end data management services in the pharmacovigilance domain. The partnership will enable both the companies to facilitate pharmaceutical and biotechnology companies.
At 11.30AM, BSE Sensex is trading lower by 45.37 points at 13,756.85 and NSE Nifty is trading down by 4.85 at 4,131.80. The BSE Mid Cap and BSE Small Cap are trading lower by 22.67 points and 24.60 points at 5,536.08 and 6,913.46.
Lossers from the NSE Nifty are Unitech Ltd down by (3.99%) at Rs175.50 along with Grasim Industries Ltd (3.98%) at Rs1,867.00,BPCL by (3.92%) at Rs238.05, HDFC (3.82%) at Rs1,974.00, Tata Motors (3.56%) at Rs428.55 and Tata Power Co by (3.41%) at Rs1,024.00.
The Bank index is trading lower by 118.08 points at 6,007.87 as Yes is trading down by (3.37%) at Rs120.50 followed by Axis Bank (3.33%) at Rs608.00, ICICI Bank Ltd (2.96%) at Rs633.80, Kotak Bank (2.77%) at Rs475.05 and PNB (2.29%) at Rs394.00.
The Reality index is trading down by 102.44 points at Rs4,772.81 as Mahindra Life is trading lower by (3.94%) at Rs428.60 along with Unitech Ltd (3.91%) at Rs175.65, Sobha Dev (2.81%) at Rs288.55, Pheonic Mill by (2.38%) at Rs159.80 and Indiabulls Real by (2.26%) at Rs289.90.
The Metal index is trading up by 160.50 points at Rs13,452.95 as NALCO is trading higher by (3.43%) at Rs344.20 along with Sterlite In (2.73%) at Rs693.65, Maharashtra Seamless (2.21%) at Rs296.30, HINDALCO by (2.12%) at Rs142.30 and Hindustan Zinc by (1.73%) at Rs541.20.
Grasim Industries is trading lower by (4.56%) at Rs1,850.00. IIFL has maintained its market performer rating on Grasim Industries with a target price of Rs 1982 in a research report last weak, but it will be difficult for the company to increase volume of sales much faster than industry growth due to the industry’s aggressive capacity expansions in the northern region.
Satyam Computer is trading higher by (2.26%) at Rs449.75. The company has entered into a partnership with Sciformix, which is a US-based life science knowledge process outsourcing firm, to offer end-to-end data management services in the pharmacovigilance domain. The partnership will enable both the companies to facilitate pharmaceutical and biotechnology companies.
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