Indian Markets recovered after mid session on some bouts of buying led by fair IIP numbers. Further, market was not able to sustain the momentum and plunged to trade in negative terrain. NSE Nifty is trading below 4,300 level and BSE Sensex is around 14,100 mark. Markets opened with gains but went down on heavy selling pressure visible mainly in IT, Bank, Reality and Oil & Gas stocks. However, Auto, Capital Goods and Power stocks are able some favor from the market. Among the Sensex pack, 19 stocks are trading in red, while11 are in green.
At 1.31PM, the BSE Sensex is trading lower by 202.11 points at 14,122.18 and NSE Nifty is down by 31.00 points at 4,259.30.
The BSE Mid Cap and Small cap are trading lower by 53.75 points and 33.00 points at 5,593.45 and 6,785.92 respectively.
The index of industrial production increased to 273 for July 2008 from 255 in the same month a year ago. This interprets into a growth of 7.1% in comparison to 5.4% for a month earlier. IIP growth was 8.3% for the same period last year.
Losers from the BSE are Infosys Tech trading down by (4.86%) at Rs1,664.00 in line with ICICI Bank Ltd by (2.97%) at Rs666.05, Satyam Computer by (2.85%) at Rs409.15, HDFC by (2.38%) at Rs2,212.05, DLF Ltd by (1.99%) at Rs475.90, Grasim Indus by (1.73%) at Rs1,985.15, TCS Ltd by (1.69%) at Rs822.00 and JP Associates (1.45%) at Rs160.00.
The BSE IT index is down by 140.55 points at Rs3,849.89. Scrips trading lower are Infosys Tech (4.85%) at Rs1,664.15 followed by NIIT Ltd by (4.22%) at Rs80.50, Patni Computer (4.04%) at Rs217.20, Rolta India (3.08%) at Rs323.70 and Oracle Fin by (2.85%) at Rs1,150.05.
The Bank index is trading lower by 89.41 points at 7,121.25. Pulling it are ICICI Bank Ltd trading down by (2.97%) at Rs666.05 along with Oriental Bank of Commerce by (2.12%) at Rs177.80, Yes Bank by (1.82%) at Rs137.70, Kotak Bank by (1.68%) at Rs599.90 and SBI by (1.17%) at Rs1,520.50.
From the telecommunication sector, Bharti Airtel is trading up by (0.41%) at Rs780.15 along with Tata Communications by (0.39%) at Rs440.80, while Idea Cellular is down by (1.49%) at Rs82.80 and Reliance Com Ltd by (0.78%) at Rs396.55.
In auto sector Maruti Suzuki is up by (3.78%) at Rs705.00 along with Hero Honda Motors higher by (0.98%) at Rs845.00 and Tata Motors by (0.19%) at Rs424.95, while M&M Ltd is down by (0.24%) at Rs560.45.
From cement sector Ambuja Cement is trading higher by (2.14%) at Rs83.35, followed by ACC Ltd up by (0.23%) at Rs597.80, while Grasim Indus is trading lower by (1.50%) at Rs1,989.90.
Infosys Tech is trading lower by (4.86%) at Rs1,664.00 as the company expects a weaker revenue growth in the current financial year due to the global economic slowdown. Further, a leading brokerage CLSA warned that the company is likely to miss its revenue guidance for second quarter of current year in dollar terms
At 1.31PM, the BSE Sensex is trading lower by 202.11 points at 14,122.18 and NSE Nifty is down by 31.00 points at 4,259.30.
The BSE Mid Cap and Small cap are trading lower by 53.75 points and 33.00 points at 5,593.45 and 6,785.92 respectively.
The index of industrial production increased to 273 for July 2008 from 255 in the same month a year ago. This interprets into a growth of 7.1% in comparison to 5.4% for a month earlier. IIP growth was 8.3% for the same period last year.
Losers from the BSE are Infosys Tech trading down by (4.86%) at Rs1,664.00 in line with ICICI Bank Ltd by (2.97%) at Rs666.05, Satyam Computer by (2.85%) at Rs409.15, HDFC by (2.38%) at Rs2,212.05, DLF Ltd by (1.99%) at Rs475.90, Grasim Indus by (1.73%) at Rs1,985.15, TCS Ltd by (1.69%) at Rs822.00 and JP Associates (1.45%) at Rs160.00.
The BSE IT index is down by 140.55 points at Rs3,849.89. Scrips trading lower are Infosys Tech (4.85%) at Rs1,664.15 followed by NIIT Ltd by (4.22%) at Rs80.50, Patni Computer (4.04%) at Rs217.20, Rolta India (3.08%) at Rs323.70 and Oracle Fin by (2.85%) at Rs1,150.05.
The Bank index is trading lower by 89.41 points at 7,121.25. Pulling it are ICICI Bank Ltd trading down by (2.97%) at Rs666.05 along with Oriental Bank of Commerce by (2.12%) at Rs177.80, Yes Bank by (1.82%) at Rs137.70, Kotak Bank by (1.68%) at Rs599.90 and SBI by (1.17%) at Rs1,520.50.
From the telecommunication sector, Bharti Airtel is trading up by (0.41%) at Rs780.15 along with Tata Communications by (0.39%) at Rs440.80, while Idea Cellular is down by (1.49%) at Rs82.80 and Reliance Com Ltd by (0.78%) at Rs396.55.
In auto sector Maruti Suzuki is up by (3.78%) at Rs705.00 along with Hero Honda Motors higher by (0.98%) at Rs845.00 and Tata Motors by (0.19%) at Rs424.95, while M&M Ltd is down by (0.24%) at Rs560.45.
From cement sector Ambuja Cement is trading higher by (2.14%) at Rs83.35, followed by ACC Ltd up by (0.23%) at Rs597.80, while Grasim Indus is trading lower by (1.50%) at Rs1,989.90.
Infosys Tech is trading lower by (4.86%) at Rs1,664.00 as the company expects a weaker revenue growth in the current financial year due to the global economic slowdown. Further, a leading brokerage CLSA warned that the company is likely to miss its revenue guidance for second quarter of current year in dollar terms
No comments:
Post a Comment