Monday, September 29, 2008

Markets Are Under Huge Pressure - Sep 29, 2008

The markets are under huge pressure today and are trading at record 2008 lows. The BSE Sensex has slipped below the 12500 mark and the NSE Nifty below the 3850 mark. All the sectorial indices are trading in deep red. The Realty index fronting the decline and has under performed the benchmark index as it is now trading with a cut of more than 10%. The BSE Bank, IT, Power, Capital Goods, Metal and Oil & Gas stocks are also reeling under pressure.

The BSE Mid Cap and the BSE Small Cap are also trading under heavy pressure with a cut of more than 5% each.

The overall market breadth is negative as 244 stocks are advancing while 2307 stocks are declining in BSE.

Jai Prakash Associate reported the top loser from the BSE Sensex pack. It is trading at a new 52 week low down by (12.43%) at Rs.106 followed by ICICI Bank the top loser down by (11.39%) at Rs.497.30.

At 2.32PM BSE Sensex is at 12,405.98 down by 696 points and Nifty is at 3,780.25 down by 205 points.

The BSE Mid Cap is lower by 293 points at 4,647.80 and the BSE Small Cap slipped by 373 points to 5,488.26.

The BSE Realty index is the one of the top loser today trading with a loss of 347.12 points at 3,249.86. The main losers are HDIL down by (14.89%) at Rs.163.80, India Bull Real decreased by (13.49%) at Rs.160 followed by Sobha Developers and Unitech declined by (12.04%) and (10%) to Rs.166.90 and Rs.99.95 respectively.

The most active shares on NSE are Reliance Industries trading at Rs.1899.95 with a total traded quantity of 3343674 shares followed by ICICI Bank trading at Rs.492.65 with a total traded quantity of 12103484 shares.

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