Thursday, July 3, 2008

The Market Is Finally Gaining Some Ground - July 3, 2008

The market is finally gaining some ground and is now off the day’s low. However, the selling pressure continued across the board mainly led by the Realty, Metal, Power and Bank stocks. The BSE Mid Cap and BSE Small Cap are also trading with a deep cut of more than 2.5% each.

The overall market breadth is negative, as 610 stocks are advancing whereas 1890 stocks that are declining.

State Bank of India reported the top gainer from the BSE Sensex pack. It is trading higher by (1.04%) at Rs.1,090.50 while Tata Steel the top loser down by (9.34%) at Rs.660.

At 2.31PM BSE Sensex is at 13,191.85 down by 472.77 points and Nifty is at 3,974.85 down by 118.50 points.

The BSE Mid Cap is lower by 137.76 points to 5,173.74 and the Small Cap slipped by 156.15 points to 6,350.94.

The BSE Metal index is one of the top loser today trading with a loss of 1009.44 points at 12,229.58. The main losers are Gujarat NRE down by (11.90%) at Rs.109.90, Sterlite Industries decreased by (9.15%) at Rs.649.80 followed by Tata Steel and Jindal Steel declined by (9.03%) and (7.69%) to Rs.674.25 and 1,706.85 respectively.

The most active shares on NSE are Reliance trading at Rs.2077 with a total traded quantity of 3752247 shares followed by Reliance Capital trading at Rs.878.25 with a total traded quantity of 5172454 shares.


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