Wednesday, March 4, 2009

Another Dry Session For The Market- March 4, 2009

After a flat start, the benchmark indices are trading range bound, due to lack of any specific news in the domestic arena. Investors are likely to remain bearish on account of weak cues from Asian and other markets. Further uncertainty about the world financial sector could push the market lower. Besides, the selling interest has emerged in Consumer Durable, Oil & Gas and Power stocks whereas buying is seen in Metal, Realty and FMCG sectors. In addition, BSE Consumer Durable and Oil & Gas indices are leading the laggards list with the dip of 1.05% and 0.76% respectively, while the BSE Metal and Realty are among the gainers with the gains of 1.05% and 0.76% respectively. Overall the market breadth is negative as 908 stocks are trading in red while 733 stocks are in green territory.

At 11.30 AM, the BSE Sensex is up by 11.28 points at 9,438.58 and NSE Nifty grew by 10.19 points at 2,632.6. The BSE Mid Cap trading up by 1.04 points at 2,658.18 whereas BSE Small cap down by 5.88 points at 3,003.67 respectively.

Losers from the BSE Sensex Pack are Tata Power down by (2.26%) to Rs. 651, along with Sun Pharmaceutical by (1.55%) to Rs. 956.5, Bharti Airtel Ltd by (1.11%) at Rs. 594.8, Reliance Industries by (0.92%) at Rs. 1188.05, Infosys Tech by (0.87%) at Rs. 1187.15 and HDFC Ltd by (0.53%) at Rs. 1194.1.

Losers from the NSE Nifty Pack are Tata Power down by (2.42%) to Rs. 651.95, along with Sun Pharmaceutical by (1.32%) to Rs. 959, Bharti Airtel Ltd by (0.89%) at Rs. 595.8, Infosys Tech by (0.84%) at Rs. 1187.5, RPL by (0.82%) at Rs. 72.75 and Reliance Industries by (0.79%) at Rs. 1187.4.

BSE Consumer Durable is trading on negative notes with the decline of (1.05%) or 15.64 points at 1,480.69. The top losers in the index are Gitanjali GE down by (1.27%) to Rs. 35.10 along with Titan Indus by (1%) to Rs.714.75, Videcon Ind by (0.54%) at Rs.83.60. followed by Blue Star by (0.46%) to Rs. 139.60.

BSE Metal is trading higher by (1.05%) or 46.42 points at 4,469.56. The major gainers are SAIL trading higher by (3.33%) at Rs.73, along with Sterlite Indus by (2.82%) at Rs.244.70, Sesa Goa by (2.59%) at Rs.75.25, Hindalco Indu by (2.55%) at Rs. 38.25, followed by Jindal Steel by (2.28%) to Rs.1,012.50.

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