The domestic market opens up tracking positive cues from global market and further drop in crude oil. But market is not able to maintain the momentum and turned flat as worries still remains. Crude oil futures for the month of November delivery fell a barrel by $4.69 at $69.85 a barrel on New York Mercantile Exchange, lowest since 23rd August 2007. On the domestic front, inflation has eased off as wholesale price index reduced to 11.44% for the week ended 4th October 2008, as against the previous week''s 11.80%. Further RBI is infusing Rs.1,45,000 Crore to bring healthy liquidity conditions in the banking sector. Capital Goods, Oil & Gas and IT stocks are able gain favour from the market while most of the selling is seen in Bank, Consumer Durables and FMCG stocks.
Thursday US stock market ended higher after an extremely volatile session. One of the major factors for the volatility in the market was unwinding of hedged options on the S&P 500 ahead of October options expiry. Energy shares climbed after the price of crude dropped below $70 a barrel for the first time in more than a year. Weekly jobless claims reduced and come below expectations along with September CPI was better than expected as remained unchanged month-over-month. However, financial firms continue to post losses amid write-downs and loss provisions. Stocks rolled broadly with record volatility but finally ended at its high.
The overall market breadth is positive as 954 stocks are advancing whereas 757 stocks are declining on BSE.
Sterlite Industries reported the top loser from the BSE Sensex pack, as it is trading with a loss of (5.88%) at Rs.281.05 while L&T Ltd is the top gainer trading with a gain of (2.33%) at Rs.845.
At 10.32AM, the BSE Sensex was down by 18 points at 10,563.28 while the Nifty was marginally higher by 3.09 points to 3,272.4.
The BSE Mid Cap increased by 16.7 points to 3,673.91 and the BSE Small Cap gained 29 points to 4,315.41.
BSE Capital Goods index is trading up by 121.53 points to trade at 7,786.33. The major gainers are Elecon Eng C trading higher by (5.73%) to Rs.53.5, Jyoti Struct advanced by (2.73%) to Rs.62, Alstom Proje up by (2.56%) to Rs.250.65 followed by Everest Kant by (2.54%) to Rs.211.8.
BSE Bank index is trading lower by 77.19 points to trade at 5,789.57. The major losers are Kotak Bank trading lower by (3.41%) to Rs.454, ICICI Bank Ltd down by (3.40%) to Rs.400.9, Karnataka Bank dropped by (2.00%) to Rs.88.3 followed by SBI by (1.74%) to Rs.1,517.1.
Thursday US stock market ended higher after an extremely volatile session. One of the major factors for the volatility in the market was unwinding of hedged options on the S&P 500 ahead of October options expiry. Energy shares climbed after the price of crude dropped below $70 a barrel for the first time in more than a year. Weekly jobless claims reduced and come below expectations along with September CPI was better than expected as remained unchanged month-over-month. However, financial firms continue to post losses amid write-downs and loss provisions. Stocks rolled broadly with record volatility but finally ended at its high.
The overall market breadth is positive as 954 stocks are advancing whereas 757 stocks are declining on BSE.
Sterlite Industries reported the top loser from the BSE Sensex pack, as it is trading with a loss of (5.88%) at Rs.281.05 while L&T Ltd is the top gainer trading with a gain of (2.33%) at Rs.845.
At 10.32AM, the BSE Sensex was down by 18 points at 10,563.28 while the Nifty was marginally higher by 3.09 points to 3,272.4.
The BSE Mid Cap increased by 16.7 points to 3,673.91 and the BSE Small Cap gained 29 points to 4,315.41.
BSE Capital Goods index is trading up by 121.53 points to trade at 7,786.33. The major gainers are Elecon Eng C trading higher by (5.73%) to Rs.53.5, Jyoti Struct advanced by (2.73%) to Rs.62, Alstom Proje up by (2.56%) to Rs.250.65 followed by Everest Kant by (2.54%) to Rs.211.8.
BSE Bank index is trading lower by 77.19 points to trade at 5,789.57. The major losers are Kotak Bank trading lower by (3.41%) to Rs.454, ICICI Bank Ltd down by (3.40%) to Rs.400.9, Karnataka Bank dropped by (2.00%) to Rs.88.3 followed by SBI by (1.74%) to Rs.1,517.1.
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