Friday, December 5, 2008

Markets Witness Choppiness Sentiment Stays Negative - dec 05, 2008

The benchmark indices are trading under pressure as tension seems to escalate and market sentiment stays negative. After witnessing strong rally in the previous trading session the investors wants to be cautious over the economic condition. The market may have become used to extremely weak economic numbers and now want to see how dramatic policy will impact the economy and the stock markets. Tomorrow’s RBI meeting will play a major part for interest sensitive sectors. The index heavyweight like Capital Goods, Metal, Realty and Bankex are trading in positive zone. The market breath is favoring advance, as 887 stocks are trading in green and about 687 stocks in red on the broader BSE.

At 11.40 AM, the BSE Sensex is losing by 127.89 points at 9101.86 whereas NSE Nifty down by 31.41 points at 2756.85. The BSE Mid Cap is trading lower by 7.02 points at 2915.78 and BSE Small Cap is trading up by 10.91 points at 3342.72 respectively.

Losers from the NSE Nifty Pack are Infosys Tech down by (4.47%) at Rs.1,139.05 along with TCS by (4.10%) at Rs.526.90, BPCL by (4.05%) at Rs.349.00, Zee Entertainment by (3.81%) at Rs.117.25 and Tata Comm Ltd by (3.68%) at Rs.412.00.

Losers from the BSE Sensex Pack are Jaiprakash Asso down by (5.63%) at Rs.67.50 along with Infosys Tech Ltd by (5.00%) at Rs.1,135.00, TCS by (4.19%) at Rs.526.70, Tata Steel by (3.84%) at Rs.180.30 and Satyam Comp by (3.68%) at Rs.180.30.

BSE IT index is trading lower by (3.31%) or 81.54 points at 2,383.20. The major losers are Rolta India trading down by (4.98%) at Rs.146.00, Infosys Tech by (4.45%) at Rs.1,141.60, TCS Ltd by (3.86%) at Rs.528.55, Satyam Computers by (3.68%) to Rs.224.00, followed by Patni Computer by (3.31%) to Rs.133.00.

BSE Bankex is trading higher by (1.26%) or 60.52 points at 4,863.89. The top gainers in the index are Kotak Bank increased by (3.79%) to Rs.368.70, Indus Ind Bank up by (3.13%) to Rs.33.00, Yes Bank by (2.42%) to Rs.65.55 followed by ICICI Bank by (0.95%) at Rs.367.65 and HDFC Bank by (0.21%) to Rs.914.80.

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