Tuesday, August 5, 2008

Market Is Showing Volatile Trading After A Negative Opening - Aug 05 , 2008

Market is showing volatile trading after a negative opening. Domestic market is trying to stabilize and now trading in positive note. NSE Nifty is trading above 4,400 level and BSE Sensex is above 14,600 mark. BSE Midcaps and Smallcaps maintain to trade in green zone since initial bell. Bank, Auto, Reality and Capital goods stocks are able to gain favor from the market. However, Metal stock is trading with deep cut of more than 3%. Along with this Oil & Gas and IT stocks are also sufferers of selling pressure. Among the Sensex pack, 18 stocks are trading in green while 12 are in red.

At 1.31PM, the BSE Sensex is trading higher by 58.86 points at 14,636.73 and NSE Nifty is up by 13.44 points at 4,408.80.

The BSE Mid Cap is trading higher by 61.50 points at 5,804.23 along with Small Cap up by 56.40 points at 7,159.75.

Gainers from the BSE are M&M Ltd trading up by (3.92%) at Rs540.00 in line with HDFC Bank Ltd by (3.75%) at Rs1,150.25, ACC Ltd by (2.77%) at Rs602.00, ICICI Bank Ltd by (2.42%) at Rs656.00, SBI by (2.30%) at Rs1,543.80 and Tata Motors by (1.94%) at Rs403.95.

Lossers from the BSE are Sterlite In trading down by (7.04%) at Rs580.00 along with Tata Steel by (4.00%) at Rs664.10, Tata Power by (2.63%) at Rs1,090.00, Ranbaxy Lab by (1.76%) at Rs514.80, JP Associates by (1.09%) at Rs172.60 and Hindalco by (1.02%) at Rs140.65.

The BSE Bank index is trading higher by 229.21 points at 6,996.72 as IDBI Bank Ltd trading up by (8.90%) at Rs88.75 along with Canara Bank by (5.38%) at Rs210.50, Indus Ind Bank (5.21%) at Rs63.65, Karnataka Bank by (4.87%) at Rs141.00 and Axis Bank by (4.59%) at Rs738.45.

The BSE Auto index is trading up by 83.56 points at 3,752.15 as Apollo Tyre is trading higher by (5.94%) at Rs31.20 along with Cummins India by (5.34%) at Rs308.00, Hero Honda Motors (4.63%) at Rs832.00, M&M Ltd by (3.72%) at Rs539.00 and Ashok Leyland by (3.62%) at Rs30.05.

The BSE Metal index is trading down by 385.51 points at 13,138.06. Scrips that are trading lower are Sterlite In (6.88%) at Rs581.00 followed by Gujarat Nre C by (5.80%) at Rs104.00, Sesa Goa Ltd by (5.15%) at Rs3,365.00, JSW SL by (4.05%) at Rs835.60 and Tata Steel by (4.05%) at Rs663.70.

From the telecommunication sector, Tata Communications is higher by (1.43%) at Rs4342.15 along with Idea Cellular trading up by (0.85%) at Rs89.50 while Bharti Airtel is trading lower by (0.25%) at Rs430.35 and Reliance Com Ltd by (0.21%) at Rs437.75.

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