Wednesday, November 26, 2008

Markets Seen Volatile Amidst Cues From Asia - Nov 26, 2008

The markets are trading volatile and lingering around the dotted line. The benchmark indices are unable to hold on to their early gains and underscoring sharply slowing global demand. The investors are resorting to small changes in their portfolio as they fear over some more down trend left to come in. The ongoing assembly election in 6 states will also play major role as they will decide the future of congress government and rescue measures to come in for industries. The index heavyweight like Oil & Gas, and Bankex are trading in the green whereas Capital Goods, Realty and Auto trading in red. The market breath is favoring decline, as 1021 stocks are trading in red and about 556 stocks in green on the broader BSE.

At 11.38 AM, the BSE Sensex is gaining by 31.95 points at 8727 whereas NSE Nifty up by 8.5 points at 2662.50. The BSE Mid Cap and BSE Small Cap are trading lower by 27.57 points and 33.01 points at 2845.01 and 3300.40 respectively.

Gainers from the NSE Nifty Pack are Sterlite Ind up by (4.72%) at Rs.215.25 along with wipro by (3.57%) at Rs.236.75, NALCO by (2.77%) at Rs.182.00, ICICI bank by (2.74%) at Rs.329.90 and HDFC bank by (2.46%) at Rs. 855.95.

Losers from the BSE Sensex Pack are Maruti Suzuki down by (2.80%) at Rs.520.00 along with M&M by (2.62%) at Rs.269.40, Reliance Communication by (2.33%) at Rs.191.00, Hindalco Ind by (2.24%) at Rs.50.20 and Infosys Tech by (1.94%) at Rs.1,157.90.

BSE Oil & Gas is trading higher by 72.43 points at 5,481.82. The top gainers in the index are Essar oil increased by (3.19%) to Rs.69.95, ONGC up by (2.69%) to Rs.704.00, Gail India by (2.05%) to Rs.199.10 followed by Reliance Petro by (1.04%) at Rs.73.00 and BPCL by (0.83%) to Rs.336.10.

BSE Capital Goods is losing by 77.73 points at 6,309.45. The major losers are Siemens trading down by (16.84%) at Rs.222.90, Havells India by (6.73%) at Rs.124.00, Kalpat pow by (4.65%) at Rs.323.00, Elecon eng by (3.49%) to Rs.36.00, followed by Bharat Elect by (2.46%) to Rs.562.10.

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