Wednesday, December 17, 2008

Markets Are Trading In Negative As Resort To Profit Booking - Dec 17, 2008

The markets are trading in negative, as investor resort to profit booking. The Asian markets are trading marginally higher, as the attempt to restart economic growth has only been partially effective. The economic outlook has worsened due to surge in unemployment, weaker consumer spending and also business investment. The advance tax collection for the quarter is also spilling early signs of economic slowdown. The sectoral indices are trending in red with oil & Gas, IT, Realty and Metal on the top. However, the market breath is favoring advance, as 1,172 stocks are trading in green and about 821 stocks in red on the broader BSE.

At 11.37 AM, the BSE Sensex is losing by 34.25 points at 9,942.72 and NSE Nifty by 14.86 points at 3,027.10. The BSE Mid Cap and BSE Small Cap are trading higher by 19.67 points and 28.05 points at 3,263.88 and 3,804.71 respectively.

Losers from the BSE Sensex Pack are Satyam Comp that plunged by (27.24%) to Rs.164.80 along with Reliance energy by (6.84%) at Rs.593.00, Reliance Comm Ltd by (4.49%) at Rs.223.45, ACC Ltd by (2.36%) at Rs.523.00 and Reliance Ind by (2.13%) at Rs.1,357.20.

Gainers from the NSE Nifty Pack are M&M up by (4.03%) at Rs.311.30 along with ICICI Bank Ltd by (3.86%) at Rs.437.25, Infosys Tech by (3.38%) at Rs.1,162.80, Grasim ind by (3.11%) at Rs.1,263.00 and ONGC Ltd by (2.96%) at Rs.734.50.

BSE Oil & Gas is trading lower by (1.24%) or 81.39 points at 6,472.80. The major losers are Reliance Nat Res trading down by (5.74%) at Rs.54.15, Gail Ind by (4.19%) at Rs.219.40, HPCL by (2.75%) at Rs.244.95, Reliance Ind by (2.39%) to Rs.1,353.65, followed by ONGC by (2.56%) to Rs.732.00.

BSE Consumer Durable is trading higher by (4.13%) or 81.09 points at 2,045.52. The top gainers in the index are Blue Star up by (12.59%) to Rs.174.80, Videocon India increased by (7.07%) to Rs.174.80, Titan Ind by (0.46%) to Rs.928.00, followed by Gitanjali Gem by (0.07%) at Rs.76.70.

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