Wednesday, July 16, 2008

Sensex pares gains as Tata Motors declines - July16, 2008

Due to a fairly strong round of selling in a few blue chip stocks in mid morning trade, the benchmark indices Sensex and Nifty have shed a good portion of their earlier gains.

The Sensex, which had touched a high of 12,935.25 earlier this morning, has eased to 12,816.61 now. Still, at its current mark, the barometer remains fairly well placed in the positive territory with a sharp gain of 140.42 points or 1.11%. The Nifty has slipped to 3881.25 from a high of 3920.05, trimming down its gain to just around half a per cent or 20.15 points.

Realty stock DLF has lost 2.9% at Rs 414.40 due to heavy selling at the counter. Automobile major Tata Motors has slipped by around 2.75% to Rs 392.75. Mahindra & Mahindra has eased by 1.35% to Rs 514.85. Maruti Suzuki is down with a loss of 0.35%.

Grasim Industries and NTPC have lost 1.05% and 1.5% respectively. ICICI Bank is down with a loss of 0.6% at Rs 525.95. Reliance Communications has eased by around 0.3% to Rs 405.

Ambuja Cements, Infosys Technologies, Wipro and Tata Consultancy Services have dropped down to around their previous closing levels. State Bank of India holds on in the positive territory with a modest gain of 0.65%.

Ranbaxy Laboratories rules firm with a big gain of 7.1%. ITC has moved up by nearly 3.25% to Rs 165.40. Satyam Computer Services, Reliance Industries, Reliance Infrastructure, HDFC, Jaiprakash Associates, Larsen & Toubro, ONGC, ACC, Bharti Airtel, BHEL, Cipla and HDFC Bank are up by 1% - 3%. Tata Steel and Hindustan Unilever are up with modest gains.

Nifty stocks Cairn India, Unitech and Nalco have lost 3.8%, 3% and 2.9% respectively. ABB, Sterlite Industries and Siemens are down by 1% - 1.25%. Hero Honda and Sun Pharmaceuticals have also declined sharply.

BPCL, HCL Technologies, Tata Power, Tata Communications, Suzlon Energy, GAIL India, Punjab National Bank, Power Grid Corporation, SAIL, Dr. Reddy's Laboratories and Reliance Petroleum are up in the positive territory with sharp to moderate gains.

No comments: