Friday, August 8, 2008

Market Is Still Trading Lower - Aug 08 , 2008

Market is still trading lower after negative opening tracking weak global cues and after annual inflation rate crossed 12% mark for first time in 13 years. Inflation stood at 12.01% for the week ended 26th July 2008, up from 11.98% for the previous. NSE Nifty is trading below 4,500 level and BSE Sensex slippedbelow 15,000 mark. However, BSE Smallcaps are in limelight as trading with in green. Banking, Realty, IT, Capital Goods and Oil & Gas stocks lost ground, while Metal stock gained. Among the Sensex pack, 7 stocks are trading in green while 23are in red.

At 1.30PM, the BSE Sensex is trading lower by 149.98 points at 14,967.26 and NSE Nifty is down by 35.60 points at 4,488.25.

The BSE Mid Cap is trading lower by 24.71 points at 5,856.89 while BSE Small Cap up by 11.71 points at 7,178.70.

Lossers from the BSE are JP Associates trading down by (3.28%) at Rs181.25 in line with ICICI Bank Ltd by (3.08%) at Rs686.65, DLF Ltd by (2.95%) at Rs538.50, Grasim Indus by (2.60%) at Rs2,035.00, Infosys Tech by (2.11%) at Rs1,685.00 and SBI by (2.11%) at Rs1,491.90.

The BSE Bank index is trading lower by 177.56 points at 7,105.59 as Axis bank trading down by (4.81%) at Rs712.50 along with Indian Overseas Bank by (4.55%) at Rs94.40, Bank of India (3.36%) at Rs285.95, ICICI Bank Ltd by (3.32%) at Rs685.00 and SBI by (2.30%) at Rs1,489.

The BSE Capital Goods index is trading down by 161.61 points at 12,233.29. Scrips that are trading lower are Crompton Greaves Ltd (3.77%) at Rs248.65 followed by Seimens Ltd by (3.18%) at Rs544.25, Thermax Ltd by (2.10%) at Rs71.70, BHEL by (1.95%) at Rs1,740.00 and BEML Ltd by (1.56%) at Rs718.00.

From the telecommunication sector, Idea Cellular is higher by (0.95%) at Rs90.00 while Tata Communications trading down by (2.37%) at Rs446.75 followed by Bharti Airtel by (1.34%) at Rs838.00 and Reliance Com Ltd by (0.51%) at Rs435.30.

In auto sector Hero Honda Motors is trading higher by (0.10%) at Rs821.40 while Tata Motors is down by (1.43%) at 440.00 along with M&M Ltd lower by (1.26%) at Rs568.00 and Maruti Suzuki by (1.20%) at Rs663.65.

In cement sector Ambuja Cement is trading down by (3.95%) at Rs86.35 followed by Grasim Indus lower by (2.81%) at Rs2,030.05 and ACC Ltd by (1.53%) at Rs629.50.

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