Wednesday, November 5, 2008

Markets Have Given Off Their Back Of Profit - Nov 05, 2008

The markets have given off their gains on the back of profit booking witnessed in the benchmark indices. After reacting positive to the victory of newly elected US president Barack Obama, the bourses have pared considerable gains. Amid strong global cues, the investors have chosen to take some profit off the table. The indices moved deeper in the red as weakness intensified from the sectors like Oil & Gas, Bankex, Capital Goods and Metal. However the sectors like IT, Consumer Durables and Auto are trading in green. The market breadth is positive as 1147 stocks are trading in green and about 1011 stocks in red on the broader BSE.

At 11.30 AM, BSE Sensex is trading negative by 296.67 points at 10334.45 whereas NSE Nifty is trading down by 80.74 points at 3061.35. The BSE Mid Cap and BSE Small Cap are loosing by 11.74 points and 4.85 points at 3434.47 and 4030.26 respectively.

Losers from the NSE Nifty Pack are Reliance Industries Ltd down by (9.27%) at Rs1317.05 along with Reliance comm. by (8.13%) at Rs230.10, Reliance Petroleum by (7.22%) at Rs87.35, Unitech Ltd by (5.16%) at Rs53.25, and Tata Steel by (4.96%) at Rs227.80.

Losers from the BSE Sensex Pack are Reliance Industries Ltd down by (8.71%) at Rs1328.40 along with Reliance comm. by (6.39%) at Rs234.50, Tata Steel by (4.65%) at Rs228.70, Jaiprakash Asso by (4.64%) at Rs85.30, and Bharti Airtel by (3.83%) at Rs689.80.

BSE Oil & Gas index is loosing by 385.25 points at 6364.26. The major losers are Reliance Ind down by (8.76%) to Rs.1327.70, Gail India Ltd lower by (8.40%) to Rs.217.00, Reliance Petro by (5.89%) to Rs.88.65, Essar oil Ltd by (3.62%) to Rs.90.40, followed by HPCL decreased by (2.76%) to Rs.202.80.

BSE Bankex index is trading lower by 89.85 points at 5651.19. The top losers in the index are Yes Bank decreased by (2.80%) to Rs.81.60, SBI down by (1.98%) to Rs1295.05, IDBI bank by (1.64%) at Rs.65.80, ICICI bank by (1.43%) to Rs452.55 followed by Axis Bank by (1.57%) to Rs.630.75.

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