The markets after trading sideways for most of the session has finally gained some grounds after both the inflation number continued its southward journey. However the markets are still trading lower. The inflation for the week ended January 31, 2009 slipped to 4.39% from 5.07% of the previous week. Further the December industrial output came in at 2% as compared to 8%(YoY). The sharp decline in the IIP number was mainly due to the fall in the manufacturing output (-2.5% against 8.6% YoY) and consumer durables growth (-12.8% against 2.8%).
The significant amount of selling witnessed among the frontline stocks today. The Realty, Auto, Power and Consumer Durables stocks are on the buyer’s ride today. However, the IT, Oil & Gas, Metal and FMCG stocks are witnessing some selling pressure. The BSE Mid Cap and the BSE Small Cap index today have outperformed the benchmark index as both these indices are trading with a gain of more than 1% each. The BSE Sensex is now trading around the 9,550 mark and the NSE Nifty around the 2,900 mark.
The newsprint media stocks got a boost today after the government waived import duty on Newsprint to provide relief to the print media industry. Shares like Deccan Chronicle, Mid-Day Multimedia and Jagran Prakashan surged 2-5%,
Tata Communication is trading lower by (2.81%) at Rs. 429.85 after announcing a $430 million strategic investment plan in Asia Pacific region. The investments include developing Tata Communications Exchange, a new Internet Data Center and completion of the main segment of its TGN-Intra Asia Cable System. These investments are being made in line with the company''s $2 billion expansion plan over three years to enhance its global infrastructure.
Unitech is trading higher by (0.31%) at Rs. 32.25. Unitech Wireless has signed an infrastructure sharing deal with the tower arm of Tata Teleservices Ltd, Wireless-TT Infoservices Ltd (WTTIL) and Quippo Telecom Infrastructure Ltd (QTIL). This agreement will enable Unitech Wireless to roll out GSM services as planned by the second half of 2009.
On the global markets front, the Asian markets are trading lower with the Hang Seng, Shanghai Composite, Nikkei 225, Straits Times and Seoul Composite index are trading lower by (1.64%), (0.77%), (3.03%), (1.03%) and (0.87%) respectively. Bank of Korea cut interest rate to a record-low 2%.
The overall market breadth is positive as 1335 stocks are advancing while 724 stocks are declining and the 89 stocks remain unchanged on BSE.
DLF reported the top gainer from the BSE Sensex pack as it is trading higher by (4.74%) at Rs. 158 while Ranbaxy Laboratories the top loser down by (2.85%) at Rs. 214.90.
The BSE Mid cap is higher by 32.39 points at 2,997.39 and the BSE small Cap advanced by 49.32 points to trade at 3,400.29.
At 12.34 pm, BSE Sensex was at 9,555.50 down by 63.04 points and the NSE Nifty was at 2,917.30 down by 8.40 points.
BSE Realty index increased by 49.12 points to 1,585.77 as Ansal Infra (5.65%), Anant Raj Ind (4.99%), DLF (4.28%), India Bull Real (2.59%), HDIL (2.45%) and Parsavnath (2.49%) are trading higher.
BSE Oil & Gas index slipped by 70.23 points to 6,460.58 as ONGC (1.97%), Cairn India (1.39%), Gail India (1.37%), Reliance Industries (1.22%) and RPL (0.29%) are trading in negative.
BSE IT index decreased by 40.66 points to trade at 2,185.07 as Patni Computers (3.06%), Infosys Technologies (2.51%), Wipro (0.43%), TCS (0.52%) and HCL Technologies (0.13%) are trading in red.
BSE Metal index decreased by 56.53 points to 5,132.18 as Sesa Goa (2.11%), SAIL (1.53%), Sterilite Industries (1.59%), Jindal Steel (1.47%), JSW Steel (1.25%) are trading lower.
BSE Capital Goods index increased by 8.57 points to 6,481.52. The main gainers are Gammon India (2.86%), Reliance Industrial Infra (2.40%), Siemens (2.37%), AIA Engineering (2.20%), Praj Industries (1%) and Punj Lloyd (0.72%).
BSE Auto index is trading higher by 12.42 points at 2,543.70. The major gainers are Bajaj Auto (3.67%), Mahindra & Mahindra (3.39%), Hero Honda (2.20%), Ashok Leyland (1.40%) and Tata Motors (1.21%).
BSE Bankex index is trading lower by 2.35 points at 4,971.54. The main losers are ICICI Bank (1.58%), Union Bank (0.50%), AXIS Bank (0.19%), while Bank of India (1.40%), SBI (0.79%) and Bank of Baroda (0.49%).
BSE Power index inclined by 8.54 points to 1,828.51. Leading the gainers are Power Grid (3.99%), GVK Power (3.51%), Suzlon Energy (2.19%), Torent Power (2.42%) and Suzlon Energy (2.19%).
The significant amount of selling witnessed among the frontline stocks today. The Realty, Auto, Power and Consumer Durables stocks are on the buyer’s ride today. However, the IT, Oil & Gas, Metal and FMCG stocks are witnessing some selling pressure. The BSE Mid Cap and the BSE Small Cap index today have outperformed the benchmark index as both these indices are trading with a gain of more than 1% each. The BSE Sensex is now trading around the 9,550 mark and the NSE Nifty around the 2,900 mark.
The newsprint media stocks got a boost today after the government waived import duty on Newsprint to provide relief to the print media industry. Shares like Deccan Chronicle, Mid-Day Multimedia and Jagran Prakashan surged 2-5%,
Tata Communication is trading lower by (2.81%) at Rs. 429.85 after announcing a $430 million strategic investment plan in Asia Pacific region. The investments include developing Tata Communications Exchange, a new Internet Data Center and completion of the main segment of its TGN-Intra Asia Cable System. These investments are being made in line with the company''s $2 billion expansion plan over three years to enhance its global infrastructure.
Unitech is trading higher by (0.31%) at Rs. 32.25. Unitech Wireless has signed an infrastructure sharing deal with the tower arm of Tata Teleservices Ltd, Wireless-TT Infoservices Ltd (WTTIL) and Quippo Telecom Infrastructure Ltd (QTIL). This agreement will enable Unitech Wireless to roll out GSM services as planned by the second half of 2009.
On the global markets front, the Asian markets are trading lower with the Hang Seng, Shanghai Composite, Nikkei 225, Straits Times and Seoul Composite index are trading lower by (1.64%), (0.77%), (3.03%), (1.03%) and (0.87%) respectively. Bank of Korea cut interest rate to a record-low 2%.
The overall market breadth is positive as 1335 stocks are advancing while 724 stocks are declining and the 89 stocks remain unchanged on BSE.
DLF reported the top gainer from the BSE Sensex pack as it is trading higher by (4.74%) at Rs. 158 while Ranbaxy Laboratories the top loser down by (2.85%) at Rs. 214.90.
The BSE Mid cap is higher by 32.39 points at 2,997.39 and the BSE small Cap advanced by 49.32 points to trade at 3,400.29.
At 12.34 pm, BSE Sensex was at 9,555.50 down by 63.04 points and the NSE Nifty was at 2,917.30 down by 8.40 points.
BSE Realty index increased by 49.12 points to 1,585.77 as Ansal Infra (5.65%), Anant Raj Ind (4.99%), DLF (4.28%), India Bull Real (2.59%), HDIL (2.45%) and Parsavnath (2.49%) are trading higher.
BSE Oil & Gas index slipped by 70.23 points to 6,460.58 as ONGC (1.97%), Cairn India (1.39%), Gail India (1.37%), Reliance Industries (1.22%) and RPL (0.29%) are trading in negative.
BSE IT index decreased by 40.66 points to trade at 2,185.07 as Patni Computers (3.06%), Infosys Technologies (2.51%), Wipro (0.43%), TCS (0.52%) and HCL Technologies (0.13%) are trading in red.
BSE Metal index decreased by 56.53 points to 5,132.18 as Sesa Goa (2.11%), SAIL (1.53%), Sterilite Industries (1.59%), Jindal Steel (1.47%), JSW Steel (1.25%) are trading lower.
BSE Capital Goods index increased by 8.57 points to 6,481.52. The main gainers are Gammon India (2.86%), Reliance Industrial Infra (2.40%), Siemens (2.37%), AIA Engineering (2.20%), Praj Industries (1%) and Punj Lloyd (0.72%).
BSE Auto index is trading higher by 12.42 points at 2,543.70. The major gainers are Bajaj Auto (3.67%), Mahindra & Mahindra (3.39%), Hero Honda (2.20%), Ashok Leyland (1.40%) and Tata Motors (1.21%).
BSE Bankex index is trading lower by 2.35 points at 4,971.54. The main losers are ICICI Bank (1.58%), Union Bank (0.50%), AXIS Bank (0.19%), while Bank of India (1.40%), SBI (0.79%) and Bank of Baroda (0.49%).
BSE Power index inclined by 8.54 points to 1,828.51. Leading the gainers are Power Grid (3.99%), GVK Power (3.51%), Suzlon Energy (2.19%), Torent Power (2.42%) and Suzlon Energy (2.19%).
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