Tuesday, July 8, 2008

The Market Is Still Trading Negative Weak Cues - July 8, 2008

The market is still trading negative weak cues from Asian markets and Domestic political uneasiness. The Left parties have withdrawn support to the UPA government, citing Prime Minister''s announcement in Tokyo about going to the IAEA soon as the provocation. They are planning to meet President Pratibha Patil tomorrow to formally withdraw support Oil & Gas, Relaity and Bank Indices are major sufferers of negative sentiment while Capital Goods index is able gain some support from the market. Among the Sensex pack, 8 stocks are trading in green while 21 stocks are in red and 1 stock is unchanged.

At 1.32PM, the BSE Sensex is trading lower by 253.38 points at 13,272.60 and NSE Nifty is down by 64.25 points at 3,965.75.

The BSE Mid Cap and Small Cap are trading lower by 58.48 points and 78.19 points at 5,281.32 and 6,514.81 respectively.

Lossers from the BSE are ITC Ltd down by (4.03%) at Rs170.45 followed by Tata Motors by (3.96%) at Rs377.00, Reliance Infra by (3.80%) at Rs749.00, Satyam computer by (3.58%) at Rs464.70, Bharti Airtel by (3.39%) at Rs702.00, ICICI Bank Ltd (3.36%) at Rs583.45 and DLF Ltd by (3.17%) at Rs411.80.

The Oil & Gas index is trading down by 176.13 points at Rs8,706.01 as Essar Oil Ltd is trading lower by (2.70%) at Rs171.45 along with Relaince (2.62%) at Rs1,975.00, Aban Offshore (2.17%) at Rs2,585.00, Gail India by (1.92%) at Rs321.00 and ONGC by (1.87%) at Rs870.50.

The Capital goods index is trading up by 106.68 points at Rs10,815.10 as Areva is trading higher by (7.42%) at Rs1,598.00 along with Alstom Proje by (4.84%) at Rs395.20, BHEL (2.97%) at Rs1,509.85, Elecon Eng C (2.34%) at Rs98.40 and ABB Ltd (2.16%) at Rs877.95.

From the telecommunication sector, Tata Communications is trading higher by (0.2%) at Rs374.00 while by Bharti Airtel is down by (3.53%) at Rs702.00, Idea Cellular by (1.98%) at Rs86.70 and Reliance Communications is trading lower by (0.24%) at Rs418.90.

In auto sector M&M Ltd is trading higher by (0.16%) at Rs495.05 while Tata Motors is lower by (4.48%) at rs374.90, Maruti Suzuki is down by (1.42%) at Rs565.00 and Hero Honda Motors by (1.28%) at Rs680.85.

In cement sector ACC Ltd is trading up by (3.78%) at Rs516.00 while Grasim Ind trading lower by (3.67%) at Rs1,670 and Ambuja Cement by (0.27%) at Rs73.85.

No comments: