Market Gets A Boost Tracking A Fall In Domestic - Nev 21, 2008

After coming off from the day’s high in the mid session, the market again takes a sharp U turn on heavy buying across the sectoral indices. The market in the mid session pared all its initial gains as the investors booked profits. Though there was a firm opening tracking the recovery in the Asian markets, however the market did not hold up its gains for so long due to heavy selling across the Realty, Consumer Durables and Metal indices that are trading with a cut of more than 7%, 2% and 1% respectively.

At the initial stage, the market gets a boost tracking a fall in domestic inflation figures to 8.90% that led to the hopes of further interest rate cut by the RBI to defend the economy from the global economy slowdown.The BSE Mid Cap and the Small Cap stocks are also trading lower with a loss of more than 1% each.The BSE Sensex is now trading above the 8,500 mark and the NSE Nifty above the 2,550 markThe overall market breadth is weak as 1556 stocks are declining while 831 stocks are advancing in BSE.

HDFC reported the top gainer from the BSE Sensex pack. It is trading up by (6.05%) at Rs.1367.80 while JP Associates reported as the top loser trading down by 7.30% at Rs 55.20.At 2.33PM BSE Sensex is at 8,683.37 up by 232.36 points and Nifty is at 2,624.20 up by 71.05 points. The BSE Mid Cap is lower by 25.73 points at 2,870.06 and BSE Small Cap is down by 34.04 points to 3,351.30.The BSE Realty index is the one of the top loser today, which is trading with a loss of 127.59 points or 7.60% at 1,551.47.

The main losers are Unitech trading lower by 11.52% at Rs31.10 along with Omaxe by 9.29% at Rs43.95, DLF by 9.23% at Rs186.25, HDIL by 6.45% at Rs82, Ansal Infra by 5.46% at Rs29.45, Penland by 5.41% at Rs17.50, Orbitco by 4.94% at Rs51, Parsvnath by 3.13% at Rs34 and Sobha Dev by 2.55% at Rs85.90.The most active shares on NSE are Reliance Industries trading at Rs.1,078.05 with a total traded quantity of 6374212 shares followed by ICICI Bank trading at Rs.317.60 with a total traded quantity of 13183468 shares.