Wednesday, December 24, 2008

Markets Along With Unwind Long Positions Which Are Going To Settle Today - Dec 24, 2008

The Indian benchmark indices are trading in red on the back of weak trading sentiments across the Asian markets along with unwind long positions which are going to settle today. Besides, the steep fall in Rupee value against US dollar indicating heavy dollar demand from importers and heavy capital outflows foreign funds on account of weakening economy cues across the globe. Selling pressure has emerged in Realty, Auto and Metal sectors, as the following indices are trading nearly 3.5%, 1.1% and 1% lower from its early hour trades. On the other hand BSE Bankex showed some strength and remained in positive territory. The market breadth is negative as 1149 stocks are trading in red while 582 stocks are in green.

At 11.30 AM, the BSE Sensex is down by 81.78 points at 9,604.97 whereas NSE Nifty by 26 points at 2,942.65. The BSE Mid Cap and BSE Small Cap are trading lower by 30.92 points and 37.38 points at 3,144.92 and 3,601.79 respectively.

Losers from the BSE Sensex Pack are Satyam Computers down by (14.60%) at Rs 119.9, along with Tata Motors by (5.23%) to Rs.165.7, DLF Ltd by (3.26%) at Rs.292, Jaiprakash associates by (2.93%) at Rs.76.2, HDFC Bank by (2.41%) at Rs.956.15 and Grasim Ind by (2.24%) at Rs.1189.5.

Losers from the NSE Nifty Pack are Satyam Computers lower by (15.03%) at Rs.119.55 along with Unitech by (12.66%) at Rs.36.9, Tata Motors by (5.56%) at Rs.164.7, Reliance Petroleum by (4.62%) at Rs.80.5, Power Grid by (3.42%) at Rs.79.05 and ABB Ltd by (3.31%) at Rs.443.

BSE Realty is trading lower by (3.55%) or 85.40 points at 2,320.98. The major losers are Unitech trading lower by (8.27%) at Rs.38.80, along with Ansal Infra by (5.34%) at Rs.31.90, IndiaBulls real by (3.55%) at Rs.136, Parsvnath by (3.25%) at Rs.46.10, followed by Housing Development by (3.19%) to Rs.140.9.

BSE Auto is trading lower by (1.14%) or 28.09 points at 2,435.92. The top losers in the index are Tata Motors dipped by (5.23%) to Rs.165.7 along with Exide industries by (3.09%) to Rs.45.50, Maruti Suzuki by (2.62%) to Rs.499.50, followed by Bajaj auto by (2.06%) at Rs.397.50.

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