Friday, December 26, 2008

Markets Tumbles Stage As The Down By More Than 3% - Dec 26, 2008

The markets tumbles down as the profit booking across the sectoral indices prevails. The fall was led by more than expected inflation figure that led to the disaster after a firm start to the session. The inflation dropped further to 6.61% for the week ended December 13 as against 6.84% a week earlier. The rallied at the initial stage tracking the mixed cues from the Asian peers along with expectation of low inflation figures as well as the second stimulus package, which is likely to be announced by the end this week for the slowing economy and on hopes of further rate cuts by the central bank. From the sectoral front, IT index facing the bit as it is down by more than 3%.

The BSE Sensex is now trading below the 9,500 mark and the NSE Nifty below the 2,900 mark.

The overall market breadth is negative as 1397 stocks are declining while 959 stocks are advancing in BSE.

Infosys reported the top loser from the BSE Sensex pack. It is trading lower by (4.65%) at Rs.1117.50 while Maruti Suzuki the top gainer up by (2.19%) at Rs. 513.30.

At 2.37PM BSE Sensex is at 9,413.02 down by 155.70 points and Nifty is at 2,874.50 down by 42.35 points.

The BSE Mid Cap is lower by 18.06 points at 3,127.54 and BSE Small Cap slipped by 27.17 points to 3,573.03.

The IT index is trading with losses of 75.06 points or (3.36%) at 2,162.08. Pulling it are Aptech trading lower by 7.49% at Rs87.10 along with Finance Tech by (6.32%) at Rs 512.65, Rolta India by (5.83%) at Rs114.75, Infosys by (5.01%) at Rs1113.25, Tech Mahindra by (4.87%) at Rs236.45, HCL Tech by (3.51%) at Rs112.65, Wipro by (2.26%) at Rs227.15.

The Realty index is down by 67.21 points or (2.94%) at 2,221.07. Losers are DLF trading down by (4.17%) at Rs281.70 in line with Omaxe by 2.70% at Rs59.50, Mahindra Life by (2.49%) at Rs180, Sobha Dev by (2.02%) at Rs102, Akruti City by (1.70%) at Rs617.90, Phoenix Mill by (1.62%) at Rs79, Parsvanath by (1.41%) at Rs45.30.

The most active shares on NSE are Unitech trading at Rs.36.50 with a total traded quantity of 36238458 shares followed by RNRL trading at Rs.54.05 with a total traded quantity of 28781070 shares.

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