Market is trading on back foot note after paring its initial gains on profit booking led by lower US index futures that offsets expectations of a further cut in interest rates and gains in Asian stocks. Along with this political uncertainty ahead of state election also weighed on sentiments. Polling for assembly elections in Chhattisgarh began on 14 November 2008. Most of the selling is seen in Capital Goods, Auto, Consumer Durables and IT stocks. Midcap and small cap stocks are also under pressure.
However Teck and Bank stocks are able to gain favor from the market.NSE Nifty is trading below 2,850 level and BSE Sensex is below 9,450 mark. Among the Sensex pack, 14 stocks are trading in green while 16 are in red.At 1.30PM, the BSE Sensex is trading lower by 105.8 points at 9,430.5 and NSE Nifty is down by 18.3 points at 2,830.15.
The BSE Mid Cap is trading lower by 41.5 points at 3,240.21 along with Small Cap down by 25.1 points at 3,787.97.
Losers from the BSE Sensex pack are Tata Motors trading lower by (4.74%) at Rs142.55 in line with M&M Ltd by (3.57%) at Rs330, JP Associates by (3.24%) at Rs74.6, HDFC by (2.73%) at Rs1,593, BHEL by (2.69%) at Rs1,301.1, Tata Steel by (2.38%) at Rs180.7 and Infosys Tech by (2.16%) at Rs1,232.
The BSE Capital Goods index is trading lower by (2.68%) or 198.25 points at 7,063.28. Scrips trading down are Crompton Greaves by (6.32%) at Rs145.35 along with Everest Kanto by (5.18%) at Rs182, Punj Lloyd (4.72%) at Rs183.5, Suzlon Energy (3.67%) at Rs55.1 and Reliance Industrial Infra by (2.66%) at Rs369.7.
The BSE Auto index is trading down by (2.58%) or 65.71 points at 2,476.48 as Tata Motors trading lower by (4.54%) at Rs142.85 along with Hero Honda Motors by (3.42%) at Rs728.65, Bosch Ltd (3.15%) at Rs3,170, Exide Indus by (3.13%) at Rs46.50 and M&M Ltd by (2.62%) at Rs333.25.
From the telecommunication sector, Bharti Airtel is higher by (4.34%) at Rs659.4 along with Idea Cellular trading up by (3.76%) at Rs49.7, Reliance Com Ltd by (3.35%) at Rs222.15 and Tata Communications by (2.34%) at Rs490.
In auto sector Tata Motors is trading lower by (5.02%) at Rs142.9 followed by Hero Honda Motors down by (3.18%) at Rs728.85, M&M Ltd by (3.17%) at Rs330.2 and Maruti Suzuki lower by (1.70%) at Rs549.75.
In cement sector ACC Ltd is trading down by (1.89%) at Rs451, Ambuja Cement is lower by (0.90%) at Rs55.05 and Grasim Indus is down by (0.44%) at Rs1,039.9.
Tata Motors is trading lower by (4.74%) at Rs142.55. The company’s Lucknow plant is likely to be shut for another week from 10-15 November 2008. Along with this the company''s Jamshedpur plant will go for a second round of block closure by November-end.
However Teck and Bank stocks are able to gain favor from the market.NSE Nifty is trading below 2,850 level and BSE Sensex is below 9,450 mark. Among the Sensex pack, 14 stocks are trading in green while 16 are in red.At 1.30PM, the BSE Sensex is trading lower by 105.8 points at 9,430.5 and NSE Nifty is down by 18.3 points at 2,830.15.
The BSE Mid Cap is trading lower by 41.5 points at 3,240.21 along with Small Cap down by 25.1 points at 3,787.97.
Losers from the BSE Sensex pack are Tata Motors trading lower by (4.74%) at Rs142.55 in line with M&M Ltd by (3.57%) at Rs330, JP Associates by (3.24%) at Rs74.6, HDFC by (2.73%) at Rs1,593, BHEL by (2.69%) at Rs1,301.1, Tata Steel by (2.38%) at Rs180.7 and Infosys Tech by (2.16%) at Rs1,232.
The BSE Capital Goods index is trading lower by (2.68%) or 198.25 points at 7,063.28. Scrips trading down are Crompton Greaves by (6.32%) at Rs145.35 along with Everest Kanto by (5.18%) at Rs182, Punj Lloyd (4.72%) at Rs183.5, Suzlon Energy (3.67%) at Rs55.1 and Reliance Industrial Infra by (2.66%) at Rs369.7.
The BSE Auto index is trading down by (2.58%) or 65.71 points at 2,476.48 as Tata Motors trading lower by (4.54%) at Rs142.85 along with Hero Honda Motors by (3.42%) at Rs728.65, Bosch Ltd (3.15%) at Rs3,170, Exide Indus by (3.13%) at Rs46.50 and M&M Ltd by (2.62%) at Rs333.25.
From the telecommunication sector, Bharti Airtel is higher by (4.34%) at Rs659.4 along with Idea Cellular trading up by (3.76%) at Rs49.7, Reliance Com Ltd by (3.35%) at Rs222.15 and Tata Communications by (2.34%) at Rs490.
In auto sector Tata Motors is trading lower by (5.02%) at Rs142.9 followed by Hero Honda Motors down by (3.18%) at Rs728.85, M&M Ltd by (3.17%) at Rs330.2 and Maruti Suzuki lower by (1.70%) at Rs549.75.
In cement sector ACC Ltd is trading down by (1.89%) at Rs451, Ambuja Cement is lower by (0.90%) at Rs55.05 and Grasim Indus is down by (0.44%) at Rs1,039.9.
Tata Motors is trading lower by (4.74%) at Rs142.55. The company’s Lucknow plant is likely to be shut for another week from 10-15 November 2008. Along with this the company''s Jamshedpur plant will go for a second round of block closure by November-end.
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