Monday, July 21, 2008

Market Pares Initial Gains But Still In Positive - July 21, 2008

Market pares some of its initial gains but still trading in green zone after a positive opening tracking strong cues from Asian markets. Bank, Metal and Pharma stocks are supporting the market with sustained buying in these baskets while Oil & Gas, Capital Goods and Reality stocks are witnessing selling pressure. The market breadth is negative as 876 stocks are trading in green while 1141 stocks are trading in red.

At 11.30 AM, BSE Sensex is trading higher by 130.02 points at 13,765.42 and NSE Nifty is trading up by 27.80 at 4,120.05. The BSE Mid Cap is trading lower by 10.06 points at 5,229.32 and BSE Small Cap down by 18.99 points at 6,436.90.

Gainers from the NSE Nifty are Sun Pharma up by (6.33%) at Rs1,380.25 along with Dr Reddy’s Lab (4.63%) at Rs693.50, Nalco (4.50%) at Rs373.80, ITC Ltd (4.06%) at Rs183.40, PNB (3.94%) at Rs458.50, HUL (2.87%) at Rs226.10 and HDFC Bank Ltd by (2.81%) at Rs1,063.60.

Lossers from the NSE Nifty are DLF Ltd down by (2.63%) at Rs448.85 along with Satyam Computer (2.45%) at Rs374.15, HCL Tech (2.40%) at Rs197.20, Hindalco (1.55%) at Rs140.15, BHEL (1.50%) at Rs1,508.80 and Sterlite In by (1.26%) at Rs590.00.

The BSE Bank index is trading up by 122.36 points at Rs6,311.25 as PNB is trading higher by (3.72%) at Rs456.85 along with Bank of Baroda (3.68%) at Rs223.90, Bank of India (3.02%) at Rs264.50, HDFC Bank Ltd by (2.56%) at Rs1,060.00 and SBI by (1.95%) at Rs1,325.10.

The BSE Pharma index is trading higher by 72.07 points at Rs4,062.92 as Sun Pharma is trading up by (6.32%) at Rs1,380.00 along with Dr Reddy’s Lab (3.70%) at Rs688.80, Glenmark Pharma (3.27%) at Rs657.15, Bil Care Ltd (3.12%) at Rs657.05 and Aventis Pharma by (2.98%) at Rs720.00.

The BSE Capital Goods index is trading lower by 105.34 points at Rs11,041.17 as Alstom Proje is trading down by (2.24%) at Rs393.15 along with Punj Lloyd (2.15%) at Rs216.30, BHEL (2.04%) at Rs1,499.00, Thermax Ltd by (1.44%) at Rs381.05 and Suzlon Energy by (1.43%) at Rs192.75.

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