Friday, October 17, 2008

Markets Witnessing Flip Flop Session - Oct 17, 2008

After some strong opening, the markets are now hovering around the dotted line, as Asian markets are trading mixed. The see saw behavior in the market has kept sentiments down due to economic worries. The Indian markets have reacted as per the world market which is trading mixed. However, the confidence level is not as bad as other markets, thanks to financial institutes for not letting down. Nevertheless, the benchmark indices will witness this kind of behavior in next couple of months. The sectors like Bankex, Capital Goods, Consumer Durables and Realty are trading lower, whereas Oil & Gas, PSU and FMCG are in green. However, the market breadth is positive as 1088 stocks where trading in green and about 995 stocks in red on the broader BSE.

At 11.30 AM, BSE Sensex is trading negative by 16.00 points at 10564.85 and NSE Nifty is trading up by 7.79 points at 3277.10. The BSE Mid Cap and BSE Small Cap are gaining by 17.0 points and 24.40 points at 4310.81 and 4145.00 respectively.

Losers from the BSE Sensex Pack are Sterlite Industries down by (5.73%) at Rs281.50 along with BHEL down by (4.43%) at Rs1254.85, Grasim Ind down by (4.43%) at Rs1311.00, ICICI Bank by (3.18%) at Rs401.80 and HUL by (2.32%) at Rs242.15.

Gainers from the BSE Sensex Pack are Satyam Computers up by (3.73%) at Rs283.20 along with Wipro up by (2.34%) at Rs284.35, Tata Steel by (2.32%) at Rs276.00 and Ranbaxy Lab by (2.12%) at Rs272.00.

Losers from the NSE Nifty Pack are Sterlite Ind down by (6.26%) at Rs279.5 along with Grasim Ind down by (5.07%) at Rs1307.00, Siemens Ltd by (4.34%) at Rs284.05, BHEL by (4.31%) at Rs1256.10, and ICICI Bank by (3.69%) at Rs400.80.

Gainers from the NSE Nifty Pack are HCL Tech up by (5.11%) at Rs165.60 along with Cairn Ltd up by (4.48%) at Rs162.00, Satyam Computers by (3.92%) at Rs282.6 and Tata Steel by (3.47%) at Rs278.45..

BSE Bankex index is trading lower by 68.12 points to trade at 5798.64. The top losers are ICICI bank decreased by (6.42%) to Rs.400.80, Kotak Bank down by (3.18%) to Rs.455.10, SBI by (1.75%) at Rs1517.10, IDBI Bank by (1.52%) to Rs74.45 followed by Federal Bank fell by (1.42%) to Rs.167.00.

BSE Oil & Gas index gained by 57.51 points to trade at 6885.28. The major gainers are Indian Oil corp up by (4.67%) to Rs.406.70, Cairn Ltd trading up by (3.44%) to Rs.160.70, BPCL up by (2.06%) to Rs.358.90, HPCL by (3.29%) to Rs.235.65, followed by ONGC up by (1.39%) to Rs.814.40.

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