Wednesday, November 12, 2008

Markets Have Recovered From Its Low Trading - Nov 12, 2008

The markets have recovered from its day’s low and are now trading around the dotted lines with negative bias. The benchmark indices are struggling to gain ground as concerns about the big economies continued to weigh on investor sentiment. However, all eyes will be on the IIP data, with a temporary rebound in the industrial growth. Market experts expect the IIP numbers to be around 5-6%, as the 1.3% growth in August was an aberration. Some of the sectoral indices witness a selling pressure with Oil & Gas, Realty, Auto, Metal and Bankex trading in red.

The market breath is favoring decline, as 1201 stocks are trading in red and about 733 stocks in green on the broader BSE.At 11.36 AM, the BSE Sensex lost 71 points at 9767 whereas NSE Nifty down by 21 points at 2918. The BSE Mid Cap and BSE Small Cap are losing by 29.17 points and 28.63 points at 3327 and 3859 respectively.

Losers from the NSE Nifty Pack are DLF ltd down by (5.55%) at Rs.253.70 along with Tata motors by (5.12%) at Rs.146.50, Sterlite Ind by (4.61%) at Rs.237.70, Hindalco Ind by (4.24%) at Rs.57.60, and M&M by (3.87%) at Rs.342.45.

Losers from the BSE Sensex Pack are Tata motors down by (5.34%) at Rs.147.00 along with DLF ltd by (5.17%) at Rs.253.80, HUL by (4.20%) at Rs.236.10, Hindalco ind by (4.00%) at Rs. 57.60, and M&M by (3.93%) at Rs.343.30.

BSE Oil & Gas index is losing by 90.52 points at 5,832.09. The major losers are Cairn Ltd trading down by (3.33%) at Rs.139.30, Reliance Ind down by (2.24%) to Rs.1,179.95, ONGC by (1.57%) to Rs.723.50, Aban offshore by (0.63%) to Rs.968.00.

BSE Realty is trading lower by 76.37 points at 2,132.34. The top losers in the index are DLF ltd decreased by (4.91%) to Rs.254.50, Indiabulls real estate down by (2.95%) to Rs.126.80, Ansal Infra by (2.92%) to Rs.43.25, Anant Raj In by (2.87%) at Rs.648.80, followed by Unitech ltd by (2.45%) to Rs.49.80.

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