The market makes a smart comeback from the fall to pare most of its losses on the back of selective buying from the Oil & Gas and Consumer Durables baskets. The market at the initial stage tumbles tracking the US auto bail out plan, which is still pending to be approved by the Senate. Also, the October trade deficit climbed to $57.2 billion from $56.6 billion as the exports dropped significantly. Initial jobless claims for the week ended December 6 increased 58,000 to 573,000. Continuing claims increased to 4.43 million from 4.09 million.
Alosng with this, the fall in Industrial production data weighed on the sentiments. The IIP declined 0.4% in October 2008 a against revised 5.5 % growth in September 2008. The manufacturing production dropped by 1.2% in October 2008. From the sectoral front, the Oil & Gas and Consumer Durables index makes a bounce back as they are up by more than 2% each.
On the global market front, the European Markets are trading in red as Dax Index is trading lower by 3.27% and FTSE 100 down by 2.39%.
The broader markets are trading in green as the BSE Mid Cap and Small Cap are trading with good gains of 37.99 points or (1.26%) and 64.23 points or (1.86%) at 3,041.07 and 3,507.82 respectively.
The overall market breadth is positive as 1388 stocks are advancing while 875 stocks are declining in BSE.
Reliance Infra reported the top gainer from the BSE Sensex pack. It is trading up by (4.22%) at Rs630 along with Reliance by (4.19%) at Rs 1,311.60.
TCS Ltd reported the top loser from the BSE Sensex pack. It is trading down by (4.76%) at Rs483.50 along with Tata Motors by (4.61%) at Rs 153.15.
At 2.32 PM BSE Sensex is at 9,652.48 up by 7.02 points while NSE Nifty is at 2,914.85 down by 5.30 points.
The BSE Oil & Gas index is trading with gains of 160 points or (2.66%) at 6,164.99. Pushing it are HPCL trading higher by 5.80% at Rs237.05 along with Essar Oil Ltd by 5.23% at Rs87.55, BPCL by 4.30% at Rs338 and Reliance by 3.98% at Rs1,309.
The BSE IT index is trading with losses of 69.88 points or (2.96%) at 2,289.32. Pulling it are HCL Tech trading lower by 6.79% at Rs107.70 along with TCS Ltd by 4.68% at Rs483.90, Wipro Ltd by 4.16% at Rs239.60 and Financ Tech by 3.20% at Rs482.50.
The most active shares on NSE are Reliance trading at Rs1,313.65 with a total traded quantity of 7499502 shares followed by RNRL trading at Rs55.80 with a total traded quantity of 79194816 shares.
Alosng with this, the fall in Industrial production data weighed on the sentiments. The IIP declined 0.4% in October 2008 a against revised 5.5 % growth in September 2008. The manufacturing production dropped by 1.2% in October 2008. From the sectoral front, the Oil & Gas and Consumer Durables index makes a bounce back as they are up by more than 2% each.
On the global market front, the European Markets are trading in red as Dax Index is trading lower by 3.27% and FTSE 100 down by 2.39%.
The broader markets are trading in green as the BSE Mid Cap and Small Cap are trading with good gains of 37.99 points or (1.26%) and 64.23 points or (1.86%) at 3,041.07 and 3,507.82 respectively.
The overall market breadth is positive as 1388 stocks are advancing while 875 stocks are declining in BSE.
Reliance Infra reported the top gainer from the BSE Sensex pack. It is trading up by (4.22%) at Rs630 along with Reliance by (4.19%) at Rs 1,311.60.
TCS Ltd reported the top loser from the BSE Sensex pack. It is trading down by (4.76%) at Rs483.50 along with Tata Motors by (4.61%) at Rs 153.15.
At 2.32 PM BSE Sensex is at 9,652.48 up by 7.02 points while NSE Nifty is at 2,914.85 down by 5.30 points.
The BSE Oil & Gas index is trading with gains of 160 points or (2.66%) at 6,164.99. Pushing it are HPCL trading higher by 5.80% at Rs237.05 along with Essar Oil Ltd by 5.23% at Rs87.55, BPCL by 4.30% at Rs338 and Reliance by 3.98% at Rs1,309.
The BSE IT index is trading with losses of 69.88 points or (2.96%) at 2,289.32. Pulling it are HCL Tech trading lower by 6.79% at Rs107.70 along with TCS Ltd by 4.68% at Rs483.90, Wipro Ltd by 4.16% at Rs239.60 and Financ Tech by 3.20% at Rs482.50.
The most active shares on NSE are Reliance trading at Rs1,313.65 with a total traded quantity of 7499502 shares followed by RNRL trading at Rs55.80 with a total traded quantity of 79194816 shares.
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