Monday, July 14, 2008

The Market Opens Weak On The Back Of Negative Cues - July 14, 2008

The market today opens weak on the back of negative cues from the US markets. The significant selling witnessed in the IT, Pharma, Bank and Realty stocks. However, the Metal, Auto and Capital Goods stocks are higher in the opening trade. The Bse Mid Cap and BSE Small Cap stocks are also trading lower.

The overall market breadth is negative as 4833 stocks are advancing whereas 933 stocks are declining on BSE.

Tata Motors reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (2.09%) at Rs.408 while Ranbaxy Laboratories the top loser down by (10.25%) at Rs.477.

At 10.30AM, the BSE Sensex was down by 190.01 points at 13,279.84 and the Nifty was down by 22 points to 4,027.

The BSE Mid Cap decreased by 45.15 points to 5,320.19 and the BSE Small Cap slipped by 60.84 points to 6,652.82.

BSE Metal index advanced by 55.91 points to trade at 12,767.62. The top gainers are NALCO increased by (2.54%) to Rs.391.25, Tata Steel up by (2.15%) to Rs.680.50, Bhushan Steel inclined by (2.11%) to Rs820 followed by SAIL up by (1.72%) to Rs.138.75.

BSE IT index dropped by 189.46 points to trade at 3,718.17. The major losers are HCL Technologies, Infosys Technologies, Satyam Computer and TCS fell by (10.01%), (5.20%), (3.90%) and (3.21%) to Rs.214.75, Rs.1589.70, Rs.426.20 and Rs.773 respectively.

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