Tuesday, March 17, 2009

Market Dull: Metal & Realty Up- March 17, 2009

After a flat start, the benchmark indices are trading with volatility amid mixed cues from global markets. Due to lack of any specific news in the domestic arena, investors are likely to remain bearish after two day’s continuous rallies. On a stock move, one of the major IT players HCL Tech has bagged a USD 350 million IT outsourcing services deal from media and marketing house Readers Digest Association. During last hour, selling interest has emerged in IT and Oil & Gas stocks, whereas buying pressure is seen across Metal, Realty and CD counters. Among the sectoral indices, the BSE IT index is down by 1.30%, while Oil & Gas index slipped by 0.17%. On the other hand, the Metal and Realty indices on the BSE surged by 1.75% and 1.66% respectively. Overall the market breadth is positive as 1089 stocks are trading in green while 735 stocks are in red.

At 11.32 AM, the BSE Sensex up by 28.56 points at 8,972.11 whereas NSE Nifty inclined by 12.05 points at 2,789.3. The BSE Mid Cap and Small Cap are trading higher by 25.05 points and 46.36 points at 2,725.62 and 3,044.86 respectively.

Gainers from the BSE Sensex Pack are Reliance Communication up by (3.60%) to Rs. 162.4, along with ICICI Bank by (3.05%) to Rs. 332.5, Hindalco Industries by (3.04%) at Rs. 44, Tata Steel Ltd by (2.40%) at Rs. 172.9, Maruti Suzuki by (2.07%) at Rs. 713.3 and NTPC Ltd by (1.99%) at Rs.174.55.

Gainers from the NSE Nifty Pack are Zee Entertainment by (8.29%) at Rs. 103.85 along with Suzlon Energy by (4.40%) at Rs. 36.75, Reliance Communication by (3.57%) at Rs. 162.3, Unitech Ltd by (3.23%) at Rs. 27.2 and Hindalco Industries by (3.16%) at Rs. 44.1.

BSE IT is trading lower by (1.30%) or 28.67 points at 2,170.50. The major losers are TCS Ltd trading down by (2.86%) at Rs. 504.95, along with Wipro Ltd by (1.77%) at Rs. 224.20, Infosys Tech by (1.26%) at Rs. 1272, Followed by Mphasis Ltd by (0.72%) at Rs. 186.95.

BSE Metal is trading higher by (1.75%) or 87.07 points at 5,054.51. The top gainers in the index are Gujarat NRE inclined by (6.37%) to Rs.19.20 along with Welsp Guj by (6.34%) to Rs. 60.40, Ispat Industries by (6.28%) to Rs. 10.33, followed by NMDC Ltd by (3.68%) at Rs. 156.50.

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