Friday, February 20, 2009

Week Global Cues Dragged Market Down- Feb 20, 2009

Extending further losses, the domestic benchmark indices are trading in deep red tracking the falling global markets and deepening worries of the US economy. Besides, lower inflation data and a hint of further interest rate cut from RBI could not support the market sentiments. During the session all the sectoral indices are trading in red territory with Realty, Bankex and IT topping the laggards list with losses of 2.94%, 2.70% and 2.19% respectively. Overall market breadth is negative as nearly 1121 stocks are declining, while only 450 stocks are trading is positive note.

At 11.30 AM, the BSE Sensex down by 190.62 points at 8,852.01 and NSE Nifty declined by 55.2 points at 2,734.15. The BSE Mid Cap and Small Cap are trading lower by 36.5 points and 38.24 points at 2,801.9 and 3,175.85 respectively.

Losers from the BSE Sensex Pack are DLF Ltd down by (4.19%) to Rs. 149.8, along with Reliance communication by (4.12%) at Rs. 156, Housing Development Finance Corporation Ltd by (3.92%) to Rs. 1338, Sterlite Industries by (3.90%) at Rs. 246.5, ICICI Bank by (3.49%) at Rs. 348.9, Mahindra & Mahindra by (3.15%) at Rs. 281 and Tata Steel by (2.81%) at Rs. 167.6.

Losers from the NSE Nifty Pack are ABB Ltd by (4.58%) at Rs. 374.95 along with National Aluminium Company by (4.55%) at Rs. 193.9, Zee Entertainment by (4.07%) at Rs. 109.65, HCL Tech by (3.90%) at Rs. 104.8 and Reliance Communication by (3.88%) at Rs.156.25.

BSE Realty is trading down by (2.94%) or 43.52 points at 1,438.81. The top losers in the index are DLF India declined by (4.19%) to Rs. 149.8 along with Mahindra Life by (3.63%) to Rs. 104.80, Indiabulls real by (3.50%) to Rs. 93.65, OrbitCo by (3.49%) to Rs. 42.90, Akruti City by (2.73%) to Rs. 1005.55 and Ansal Infra by (2.51%) to Rs. 25.20.

BSE Bankex is trading lower by (2.70%) or 120.08 points at 4,334.50. The major losers are Bank of India trading down by (3.74%) at Rs. 218.50, along with ICICI Bank by (3.49%) at Rs. 348.9, Indian Overseas Bank by (3.40%) at Rs. 49.70, Bank of Baroda by (3.39%) at Rs.223.90, Axis Bank by (3.36%) at Rs. 375.40, followed by Kotak Bank by (3.29%) to Rs. 244.20.

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