Moderate economic growth data provided support to the key benchmark indices but later the volatility continues, as the terror has attacked the sentiments of the global investors as well as domestic investor by large. The global market has already been hit by heavy outflow of foreign capital as a result of the global financial turmoil which has impacted markets worldwide.
Moreover, the comment made by Standard and Poor’s that it does not expect Mumbai terror attacks to have any negative impact on India’s Macro Economy and hence its sovereign ratings, even as stock markets may witness negative effect in the short run; has boosted the moral of investors.
On the sectoral front, traders off-loaded positions across the sectors except IT, Teck, FMCG and Auto. Real estate stocks declined on reports property prices may remain soft as global economic crisis shatters home buyer’s confidence. Further, steel shares declined after reports that steel makers JSW Steel, Ispat Industries and Essar Steel are likely to slash prices of steel in the spot market by 5 to 6% or Rs.2,000 per ton next month. In line with this, IT stocks gained on a weaker rupee scenario.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 1818 shares traded so far, 700 shares advanced while 1,067 shares declined. Nearly 51 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 87.74 points at 8,938.98 and NSE Nifty is down by 36.59 points at 2,715.65.
The BSE Mid Cap is trading lower by 32.22 points at 2,845.16 and Small cap is trading down by 30.55 points at 3,284.34.
Gainers from the BSE Sensex Pack are TCS by (4.14%) at Rs.548.80 along with Tata Power by (3.47%) at Rs.677.60, BHEL by (3.14%) at Rs.1,340.00, Hindalco In by (2.19%) at Rs.53.70, and M&M by (2.00%) at Rs.275.00.
Lowers from the BSE Sensex Pack are Reliance Infra down by (4.76%) at Rs.494.75 along with Jaiprakash Associates by (4.68%) at Rs.54.00, Tata Stl by (2.81%) at Rs.150.55, Tata Motors by (2.50%) at Rs.136.25, and RCom by (2.49%) at Rs.193.95.
The BSE Realty index is down by 40.99 points at 1,535.28. Stocks trading lower are Unitech down by (9.07%) at Rs.23.55 along with Phoenix Mill by (5.74%) at Rs.61.60, Ansal Infra by (5.29%) at Rs.25.05 and Orbitco by (4.00%) at Rs.44.40.
The BSE IT index is higher by 32.90 points at 2,501.35. Stocks trading higher are Oracle Fin up by (5.61%) at Rs.469.00 along with Patni Computers by (4.28%) at Rs.130.45, TCS by (4.14%) at Rs.548.80 and Mphasis by (2.54%) at Rs.155.35.
Moreover, the comment made by Standard and Poor’s that it does not expect Mumbai terror attacks to have any negative impact on India’s Macro Economy and hence its sovereign ratings, even as stock markets may witness negative effect in the short run; has boosted the moral of investors.
On the sectoral front, traders off-loaded positions across the sectors except IT, Teck, FMCG and Auto. Real estate stocks declined on reports property prices may remain soft as global economic crisis shatters home buyer’s confidence. Further, steel shares declined after reports that steel makers JSW Steel, Ispat Industries and Essar Steel are likely to slash prices of steel in the spot market by 5 to 6% or Rs.2,000 per ton next month. In line with this, IT stocks gained on a weaker rupee scenario.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 1818 shares traded so far, 700 shares advanced while 1,067 shares declined. Nearly 51 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 87.74 points at 8,938.98 and NSE Nifty is down by 36.59 points at 2,715.65.
The BSE Mid Cap is trading lower by 32.22 points at 2,845.16 and Small cap is trading down by 30.55 points at 3,284.34.
Gainers from the BSE Sensex Pack are TCS by (4.14%) at Rs.548.80 along with Tata Power by (3.47%) at Rs.677.60, BHEL by (3.14%) at Rs.1,340.00, Hindalco In by (2.19%) at Rs.53.70, and M&M by (2.00%) at Rs.275.00.
Lowers from the BSE Sensex Pack are Reliance Infra down by (4.76%) at Rs.494.75 along with Jaiprakash Associates by (4.68%) at Rs.54.00, Tata Stl by (2.81%) at Rs.150.55, Tata Motors by (2.50%) at Rs.136.25, and RCom by (2.49%) at Rs.193.95.
The BSE Realty index is down by 40.99 points at 1,535.28. Stocks trading lower are Unitech down by (9.07%) at Rs.23.55 along with Phoenix Mill by (5.74%) at Rs.61.60, Ansal Infra by (5.29%) at Rs.25.05 and Orbitco by (4.00%) at Rs.44.40.
The BSE IT index is higher by 32.90 points at 2,501.35. Stocks trading higher are Oracle Fin up by (5.61%) at Rs.469.00 along with Patni Computers by (4.28%) at Rs.130.45, TCS by (4.14%) at Rs.548.80 and Mphasis by (2.54%) at Rs.155.35.
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