Investors are taking cautious approach to book their positions. Market had negative opening tracking unfavorable cues from the US market. BSE Sensex is trading in red and NSE Nifty is trading with marginal gain. Metal, Capital Goods and Oil & Gas stocks are able to gain investors’ confidence while IT, Bank and Pharma stocks are out of favour. The market breadth is negative as 831 stocks are trading in green while 1291 stocks are trading in red.
At 11.33 AM, BSE Sensex is trading lower by 73.35 points at 13,396.49 and NSE Nifty is trading up by 8.69 at 4,057.70. The BSE Mid Cap is trading lower by 13.76 points at 5,351.58 while BSE Small Cap is trading down by 39.05 points at 6,674.61.
Lossers from the NSE Nifty are Ranbaxy Lab down by (9.22%) at Rs483.10 along with HCL Tech (8.40%) at Rs218.60, Infosys Tech (5.13%) at Rs1,590.90, Satyam Computer (4.10%) at Rs425.30, HDFC Bank Ltd (3.74%) at Rs1,027.85, BHEL (2.91%) at Rs1,477.25 and TCS Ltd by (2.84%) at Rs775.95.
The IT index is trading down by 152.94 points at Rs 3,754.69 as HCL Tech is trading lower by (7.55%) at Rs221.00 along with Infosys Tech (4.89%) at Rs1,594.40, Satyam Computer (3.81%) at Rs427.50, NIIT Tech by (3.71%) at Rs115.50 and Tech Mahindra by (3.41%) at Rs674.00.
The BSE Metal index is trading up by 200.71 points at Rs12,912.42 as Hindustan Zinc is trading higher by (6.42%) at Rs1573.05 along with Bhushan Steel (5.22%) at Rs844.95, Sterlite In (3.60%) at Rs685.71, Nalco by (3.20%) at Rs393.70 and Steel Authority by (2.27%) at Rs139.50.
Ranbaxy Lab is trading down by (9.21%) at Rs482.50 as U.S. prosecutors are probing allegations that that the company faked test data to make it appear that its products met federal quality standards. So the company is going to face legal action against USFDA relating to alleged falsification of records.
Infosys Tech is trading lower by (4.89%) at Rs1,594.50. Company had announced cautious second-quarter guidance on Friday. Along with this it delivered a 6.9% qoq rupee revenue growth in Q1 FY08 comprising 6.3% growth in IT and greater than 12% growth in both Infosys BPO and banking product revenues.
At 11.33 AM, BSE Sensex is trading lower by 73.35 points at 13,396.49 and NSE Nifty is trading up by 8.69 at 4,057.70. The BSE Mid Cap is trading lower by 13.76 points at 5,351.58 while BSE Small Cap is trading down by 39.05 points at 6,674.61.
Lossers from the NSE Nifty are Ranbaxy Lab down by (9.22%) at Rs483.10 along with HCL Tech (8.40%) at Rs218.60, Infosys Tech (5.13%) at Rs1,590.90, Satyam Computer (4.10%) at Rs425.30, HDFC Bank Ltd (3.74%) at Rs1,027.85, BHEL (2.91%) at Rs1,477.25 and TCS Ltd by (2.84%) at Rs775.95.
The IT index is trading down by 152.94 points at Rs 3,754.69 as HCL Tech is trading lower by (7.55%) at Rs221.00 along with Infosys Tech (4.89%) at Rs1,594.40, Satyam Computer (3.81%) at Rs427.50, NIIT Tech by (3.71%) at Rs115.50 and Tech Mahindra by (3.41%) at Rs674.00.
The BSE Metal index is trading up by 200.71 points at Rs12,912.42 as Hindustan Zinc is trading higher by (6.42%) at Rs1573.05 along with Bhushan Steel (5.22%) at Rs844.95, Sterlite In (3.60%) at Rs685.71, Nalco by (3.20%) at Rs393.70 and Steel Authority by (2.27%) at Rs139.50.
Ranbaxy Lab is trading down by (9.21%) at Rs482.50 as U.S. prosecutors are probing allegations that that the company faked test data to make it appear that its products met federal quality standards. So the company is going to face legal action against USFDA relating to alleged falsification of records.
Infosys Tech is trading lower by (4.89%) at Rs1,594.50. Company had announced cautious second-quarter guidance on Friday. Along with this it delivered a 6.9% qoq rupee revenue growth in Q1 FY08 comprising 6.3% growth in IT and greater than 12% growth in both Infosys BPO and banking product revenues.
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