Monday, February 16, 2009

Market Down After Interim Budget Announcement- Feb 16, 2009

The benchmark indices are trading with negative bias, following the global cues as most of the Asian markets are trading in the red territory, on account of shrunk Japanese economy in the latest quarter. Market sentiments turned more negative, after an announcement of, decrease in export rate to 17.1% during the first nine month of this fiscal. Among the sectoral indices, selling pressure has emerged across BSE Bankex and BSE TECk which declined by 2.23% and 1.41% respectively, whereas BSE Realty and Consumer Durable counters seen buying pressure with the increment of 1.60% and 0.74% respectively. Overall the market breadth is negative as 907 stocks are trading in red while 926 stocks are in green territory.

At 11.30 AM, the BSE Sensex declined by 157.48 points at 9,477.26 and NSE Nifty down by 49.25 points at 2,899.1. The BSE Mid Cap is trading down by 19.21 points at 2,993.74, whereas small cap is trading higher by 6.11 points at 3,401.69 respectively.

Losers from the BSE Sensex Pack are Sterlite Industries declined by (3.05%) to Rs. 267.1, along with R-Com by (2.86%) to Rs. 176.45, ICICI Bank by (2.80%) at Rs. 422.2, HDFC Bank by (2.65%) at Rs. 920.45, Bharti Airtel by (2.48%) at Rs. 636 and Ranbaxy Lab by (2.38%) at Rs. 207.

Losers from the NSE Nifty Pack are Siemens Ltd down by (4.60%) at Rs. 222.95 along with ICICI bank by (3.89%) at Rs. 417.5, Idea Cellular by (3.69%) at Rs. 49.6, Reliance Capital by (3.26%) at Rs. 419, RIL by (3.16%) at Rs. 1348.35 and SAIL by (3.14%) at Rs. 87.8.

BSE Bankex is trading on negative notes with the decline of (2.23%) or 112.28 points at 4,912.64. The top losers in the index are Axis Bank down by (3.46%) to Rs.424 along with Bank of India by (3.02%) to Rs. 244.05, ICICI Bank by (2.80%) at Rs. 422.2, Bank of Baroda by (2.75%) to Rs. 240.50 followed by HDFC Bank by (2.65%) at Rs. 920.45.

BSE Realty is trading higher by (1.60%) or 25.47 points at 1,617.83. The major gainers are Mahindra Life trading higher by (18.95%) at Rs.146.90, along with Parsvanath by (2.85%) at Rs.41.50, Orbit co by (2.18%) at Rs.56.20, Sobha Dev by (2.14%) to Rs.86.10, followed by Omaxe Ltd by (2.10%) at Rs.48.70.

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