Thursday, July 10, 2008

Market Trading Weak Showing Volatility Initial Bell - July 10, 2008

Market is trading weak after showing volatility since initial bell. Market opened in negative and soon recovered from losses but was not able to sustain the momentum. Capital Goods, Bank, IT and Auto stocks are out of favour due to heavy selling pressure is witnessed in theses baskets. Among the Sensex pack, 10 stocks are trading in green while 20 stocks are in red.

At 1.32PM, the BSE Sensex is trading lower by 65.96 points at 13,898.30 and NSE Nifty is down by 12.05 points at 4,145.05.

The BSE Mid Cap and Small Cap are trading higher by 3.98 points and 8.07 points at 5,474.66 and 6,797.96respectively.

Lossers from the BSE are Maruti Suzuki down by (3.10%) at Rs570.40 followed by JP Associates by (2.77%) at Rs168.50, ITC Ltd by (2.59%) at Rs178.75, ICICI Bank Ltd by (2.48%) at Rs606.50, Hindalco by (2.30%) at Rs142.30, TCS Ltd (1.90%) at Rs859.00 and Satyam Comp by (1.49%) at Rs475.10.

The Capital goods index is trading down by 76.05 points at Rs1,1288.71 as Suzlon Energy is trading lower by (4.76%) at Rs199.10 along with Punj Lloyd (2.86%) at Rs226.00, ABB Ltd by (2.49%) at Rs905.45, Areva (2.31%) at Rs1,548 and BEML Ltd (2.04%) at Rs723.00.

The Auto index is trading lower by 42.43 points at Rs3563.59 as Maruti Suzuki is trading down by (3.07%) at Rs570.60 along with M&M Ltd (1.55%) at Rs526.00, Tata Motors (1.12%) at Rs400.00 and Ashok Leyland by (0.33%) at Rs30.25.

From the telecommunication sector, Tata Communications is trading higher by (0.95%) at Rs383.85 while Idea Cellular down by (0.85%) at Rs87.00 along with Bharti Airtel by (0.58%) at Rs742.10 and Reliance Communications r by (0.52%) at Rs438.50.

In auto sector Hero Honda Motors is trading lower by (3.25%) at Rs692.00 along with Maruti Suzuki down by (2.85%) at Rs902.00, Tata Motors by (1.87%) at Rs399.6 and M&M Ltd by (1.32%) at Rs527.00.

In cement sector ACC Ltd is trading up by (3.44%) at Rs555.55 with Ambuja Cement trading higher by (3.19%) at Rs79.30 and Grasim Indus by (0.10%) at Rs1,753.00.

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