Tuesday, March 3, 2009

Market Turned Choppy After A Flat Opening- March 3, 2009

The benchmark indices are witnessing volatility due to lack of favoring cues from its global peers. However, short recovery is expected to emerge after the market dropped to its lowest close in more than three months. Most of the Asian markets witnessed some short recovery after a gap down opening, which kept investors sentiments a bit positive. Besides, the selling interest has emerged in TECk, Consumer Durable, Healthcare and FMCG stocks, buying is seen in Oil & Gas & Auto counters. In addition, BSE Consumer Durable and TECk indices are leading the laggard list with the dip of 1.44% and 1.29% respectively, while the Oil & Gas and Auto are among the gainers with the gains of 0.61% and 0.50% respectively. Overall the market breadth is negative as 989 stocks are trading in red while 678 stocks are in green territory.

At 11.30 AM, the BSE Sensex is down by 35.76 points at 9,571.32 and NSE Nifty down by 5.34 points at 2,669.25. The BSE Mid Cap and BSE Small Cap are trading down by 16.03 points and 12.46 points at 2,684.94 and 3,036.81 respectively.

Losers from the BSE Sensex Pack are Bharti Airtel Ltd down by (3.16%) to Rs. 598, along with Sun Pharmaceutical by (2.46%) to Rs. 969.75, Housing Development Finance Corporation Ltd by (2.13%) at Rs. 1210.55, HDFC Bank Ltd by (1.70%) at Rs. 831.3, Tata Power Comp by (1.64%) at Rs. 700 and Infosys Tech by (1.42%) at Rs. 1201.5.

Losers from the NSE Nifty Pack are Bharti Airtel Ltd down by (3.05%) at Rs. 598 along with Sun Pharmaceutical by (2.50%) at Rs. 969.5, Housing Development Fin Corp by (2.29%) at Rs. 1212, Tata Communication by (1.88%) at Rs. 396.5, Tata Power by (1.76%) at Rs. 699.3 and ITC Ltd by (1.70%) at Rs. 175.9.

BSE Consumer Durable is trading on negative notes with the decline of (1.44%) or 22.18 points at 1,522.79. The top losers in the index are Titan Ind down by (2.17%) to Rs.752 along with Gitanjali GE by (1.36%) to Rs. 36.25, Rajesh Export by (1.28%) to Rs. 23.05 followed by Videcon Ind by (1.06%) at Rs.84.10.

BSE Oil & Gas is trading higher by (0.61%) or 35.85 points at 5,921.82. The major gainers are BPCL trading higher by (2.64%) at Rs.387, along with Indian Oil by (1.93%) at Rs.445.50, HPCL by (1.57%) at Rs.284.50, Reliance by (1.17%) at Rs. 1,239.50, followed by RPL by (0.60%) to Rs.75.60.

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