Tuesday, September 23, 2008

Markets Off The Day’s Low - Sep 23, 2008

Domestic markets recover partially but are still trading in negative territory. Negative cues from global markets and sharp rebound in the oil prices are weighing on investor sentiment. Crude oil prices jumped $16.37 to $120.92 a barrel after touching an intraday high of $130 a barrel, on the New York Mercantile Exchange. Selling pressure has emerged mainly in Reality, Bank, IT and Pharma stocks. However Oil & Gas and Metal stocks are on buyers’ radar. The market breadth is negative as 775 stocks are trading in red while 1284 stocks are in green.

At 11.31AM, BSE Sensex is trading lower by 66.90 points at 13,927.97 and NSE Nifty is trading down by 12.60 at 4,210.45. The BSE Mid Cap and BSE Small Cap are trading lower by 30.60 points and 32.50 points at 5,190.30 and 6,161.51 respectively.

Losers from the NSE Nifty are Ranbaxy Lab down by (7.11%) at Rs322.75 along with DLF Ltd (4.39%) at Rs402.75, Unitech Ltd (3.19%) at Rs124.50, Wipro Ltd (2.71%) at Rs403.45, Bharti Airtel (2.30%) at Rs790.20, HDFC (1.94%) at Rs2,287.00 and BHEL by (1.76%) at Rs1,656.10.

Gainers from the NSE Nifty are Reliance Industries Ltd up by (2.39%) at Rs2,087.80 along with Tata Com Ltd (2.35%) at Rs470.00, Nalco (2.09%) at Rs395.40, Gail India (2.03%) at Rs426.30, Hero Hondal Motors (1.68%) at Rs831.00, Cairn India Ltd (1.47%) at Rs223.70 and ONGC Ltd by (1.27%) at Rs1,073.15.

The BSE Reality index is trading down by 112.80 points at Rs3,982.70 as DLF Ltd is trading lower by (4.06%) at Rs403.80 followed by Housing Development (2.96%) at Rs216.30, Indiabull Real (2.93%) at Rs218.50, Unitech Ltd by (2.84%) at Rs124.85 and Parsvnath (0.99%) at Rs105.40.

The BSE Bank index is trading lower by 67.25 points at Rs7,035.04 as Canara Bank is trading down by (1.79%) at Rs216.85 along with ICICI Bank Ltd (1.73%) at Rs623.50, Bank of India (1.19%) at Rs285.75, Indus Ind Bank by (1.11%) at Rs53.50 and Karnataka Bank (0.96%) at Rs140.00.

The BSE Oil & Gas index is trading higher by 167.35 points at Rs9,566.00. Scrips trading up are Reliance (2.59%) at Rs2,090.00 followed by Gail India by (2.31%) at Rs427.40, Aban Offshore (1.55%) at Rs2,440.00, Cairn India (1.54%) at Rs223.80 and ONGC Ltd by (0.98%) at Rs1,068.00.

The BSE Metal index is trading up by 68.35 points at Rs10,201.29. Scrips trading higher are NMDC Ltd (4.98%) at Rs240.30 followed by Sesa Goa Ltd by (3.24%) at Rs127.40, Nalco (2.36%) at Rs396.40, Jindal Saw (2.00%) at Rs616.50 and Sterlite In by (1.70%) at Rs467.80

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