Monday, July 14, 2008

Market Is Trading Flat After A Negative Opening - July 14, 2008

Market is trading flat after a negative opening. Market is not going on a particular direction due to investors’ cautious behavior. NSE Nifty is in green and BSE Sensex is up from days low but is still in negative territory. IT and Pharma stocks are major sufferers due to heavy selling pressure is witnessed in theses baskets, while Metal Index is in limeght as able gain favor. Among the Sensex pack, 18 stocks are trading in green while 12 stocks are in red.

At 1.33PM, the BSE Sensex is trading marginally lower by 0.36 points at 13,468.48 and NSE Nifty is up by 33.00 points at 4,082.00.

The BSE Mid Cap is trading higher by 2.88 points at 5,368.22 while Small Cap is lower by 36.38 points at 6,677.28.

Lossers from the BSE Ranbaxy Lab down by (8.07%) at Rs488.55 along with Infosys Tech (5.34%) at Rs1,587.00, Satyam Computer (5.05%) at Rs422.00, HDFC (3.58%) at Rs1,928.90, HDFC Bank Ltd (2.99%) at Rs1,035.55, BHEL (2.79%) at Rs1,478.80 and TCS Ltd by (2.23%) at Rs780.40.

Gainers from the BSE are ONGC up by (4.83%) at Rs890.25 followed by Tata steel by (3.75%) at Rs691.15, SBI by (3.74%) at Rs1,268.00, NTPC Ltd by (3.15%) at Rs167.00, Ambuja Cements (3.11%) at Rs83.00 and Tata Motors by (2.71%) at Rs410.50.

The IT index is trading down by 169.32 points at Rs 3,738.31 as Infosys Tech HCL Tech is trading lower by (5.46%) at Rs226.00 along with Infosys Tech (5.28%) at Rs1,588.00, Satyam Computer (5.05%) at Rs422.00, Mphasis Ltd by (4.06%) at Rs196.00 and Tech Mahindra by (3.98%) at Rs670.00.

The BSE Metal index is trading up by 329.95 points at Rs13,041.66 as Hindustan Zinc is trading higher by (8.03%) at Rs581.75 along with Bhushan Steel (5.09%) at Rs843.95, Sterlite In (4.62%) at Rs692.45, Tata Steel by (3.52%) at Rs689.60 and Steel Authority by (3.37%) at Rs141.00.

From the telecommunication sector, Tata Communications is trading higher by (3.11%) at Rs393.45 followed by Reliance Communications up by (0.48%) at Rs440.00 while Idea Cellular is lower by (1.48%) at Rs742.10 and Bharti Airtel by (0.30%) at Rs438.50.

In auto sector Tata Motors is trading higher by (2.77%) at Rs411.40 along with Maruti Suzuki up by (0.93%) at Rs570.00 and Hero Honda Motors by (0.87%) at Rs672.55 while M&M Ltd is down by (0.29%) at Rs531.05.

In cement sector Ambuja Cement is trading up by (3.17%) at Rs83.00 with Grasim Indus trading higher by (0.51%) at Rs1,720.00 while ACC Ltd is lower by (0.15%) at Rs543.90.

ONGC is trading higher by (4.83%) at Rs890.25 on possibility of company to buy an equity interest in the UK-based Imperial Energy Corporation, which currently produces 10,000 barrels per day of oil. If ONGC manages to strike a deal with Imperial Energy, it will strengthen the ONGC''s overseas presence.

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