Tuesday, July 1, 2008

Market Is Trading Flat And Trying To Recover - July 1, 2008

Market is trading flat and trying to recover from its lows in early trade. Indian market opened on positive note tracking mixed global but was not able to sustain the momentum and slipped into negative zone. The BSE Sensex is trading around 13,500 mark and is in positive territory and NSE Nifty around 4,000 and is in negative territory. The metal, oil & gas and IT stocks are showing good performance while reality and auto stocks are out of favor due to the selling pressure. The market breadth is negative as 613 stocks are trading in green while 1,588 stocks are trading in red.

At 11.30AM, BSE Sensex is trading higher by 32.18 points at 13,493.78 and NSE Nifty is trading down by 6.40 at 4,034.15. The BSE Mid Cap and BSE Small Cap are trading lower by 86.46 points and 103.25 points at 5,300.04 and 6,598.71.

Gainers from the NSE Nifty are Satyam Comp up by (3.99%) at Rs454.30 along with HCL Tech (2.51%) at Rs258.90, Grasim Indus by (2.05%) at Rs1,887.90, SAIL (2.01%) at Rs142.30, Tata Communications (1.88%) at Rs397.70 and Wipro Ltd by (1.51%) at Rs446.60.

The Oil & Gas index is trading higher by 103.89 points at 9,113.05 as HPCL is trading up by (2.08%) at Rs179.00 followed by Reliance (1.56%) at Rs2,126.00, Gail India (1.46%) at Rs337.80, Reliance Pet (0.56%) at Rs171.40 and ONGC (0.16%) at Rs816.00.

The IT index is trading up by 62.76 points at Rs4,082.58 as Satyam Comp is trading higher by (3.79%) at Rs453.70 along with HCL Tech (3.47%) at Rs259.40, Financ Tech (2.19%) at Rs1,716.80, Wipro Ltd by (1.84%) at R446.00 and I-Flex by (1.63%) at Rs1,414.00.

The Reality index is trading down by 155.05 points at Rs4,388.44 as Indiabulls Real is trading lower by (10.77%) at Rs242.00 along with Pheonix Mill (6.51%) at Rs145.15, Housing Dev (4.93%) at Rs368.00, Akruti City by (3.72%) at Rs657.00 and Purvankara by (3.59%) at Rs169.35.

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