Thursday, March 5, 2009

No Sign Of Recovery- March 5, 2009

After a positive opening, shortly the benchmark indices are surrounded by pessimistic bearish bias as cut in interest rates by RBI have failed to erase economic worries. Mounting fears over financial institutions, news about the ICICI Bank''s on Russian exposure have fuelled the negative sentiments over the market. However, bank has later admitted that there are no losses in Russia. 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 898 stocks are trading in red while 882 stocks are in green territory.

At 11.30 AM, the BSE Sensex is down by 93.71 points at 8,352.77 whereas NSE Nifty declined by 27.34 points at 2,617.85. The BSE Mid Cap trading up by 3.36 points at 2,651.73 whereas BSE Small cap down by 2.77 points at 2,987.39 respectively.

Losers from the BSE Sensex Pack are Ranbaxy down by (4.05%) to Rs. 152.7, along with Tata Power by (3.23%) to Rs. 652.55, Bharti Airtel Ltd by (2.31%) at Rs. 586.75, ITC Ltd by (2.01%) at Rs. 170.2, Jaiprakash Asso by (1.91%) at Rs. 64.2 and NTPC by (1.67%) at Rs. 176.8.

Losers from the NSE Nifty Pack are Ranbaxy down by (4.06%) to Rs.152.6, along with Tata power by (3.02%) to Rs. 652.5, ITC Ltd by (2.25%) at Rs. 169.8, Bharti Airtel by (2.17%) at Rs. 587.6, BPCL by (2.13%) at Rs. 378.9 and HUL by (2.12%) at Rs. 235.75.

BSE Realty is trading on positive notes with the hike of (1.90%) or 26.04 points at 1,396.46. The top gainers in the index are Orbit Co up by (3.83%) to Rs. 46.10 along with Mahindra Life by (3.12%) to Rs.92.65, Indiabul Real by (2.50%) by Rs. 92.40, Housing Dev by (2.06%) to Rs. 71.95, Parsavnath by (1.98%) at Rs.33.50. followed by Phoenix Mill by (1.96%) to Rs. 49.50.

BSE Power is trading lower by (1.20%) or 19.98 points at 1,649.92. The major losers are Tata Power trading down (3.23%) to Rs. 652.55, along with NTPC by (1.67%) at Rs. 176.8, BHEL by (1.54%) at Rs.1312.15, Crompton Greaves by (1.53%) at Rs. 119, followed by Siemens Ltd by (0.87%) to Rs.204.

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