Wednesday, April 22, 2009

Markets Are Still Trading Lower - April 22, 2009

The benchmark indices are still trading lower as selling pressure intensified. All the sectorial indices are trading in red mainly led by the Realty, Consumer Durables, Capital Goods, Auto and Power stocks. The European markets after a negative opening, gained some grounds from the low. The broader markets also remained out of favor today with both the BSE Mid Cap and the BSE Small Cap index are trading with a cut of more than 1% each.

The overall market breadth is negative as 944 stocks are advancing while 1474 stocks are declining in BSE.

ACC reported the top gainer from the BSE Sensex pack, as it is trading up by (3.67%) at Rs. 636 while Maruti Suzuki reported the top loser down by (5.05%) at Rs. 749.50.

BSE Sensex is at 10,848.41 down by 49.70 points and Nifty is at 3,337.45 down by 27.85 points.

The BSE Mid Cap is lower by 32.05 points at 3,491.09 and the BSE Small Cap decreased by 64.29 points to 3,963.69.

The Realty index is trading with deep cut of 109.96 points or 4.89% at 2,139.35. Losers from this pack are MahindraLife trading down by 10.72% at Rs166.65 along with Orbitco by 7.81% at Rs74.35, Unitech by 7.51% at Rs48, Indiabull Real by 7.03% at Rs129.65, HDIL by 7.01% at Rs126.65, Akruti City by 4.99% at Rs39.95, DLF by 4.40% at Rs226.90, Ansal Infra by 4.08% at Rs32.95 and Sobha Developers by 4.08% at Rs99.80.

The Consumer Durables index is trading lower by 81.63 points or 4.42% at 1,764.62. Leading from the losers pack are Gitanjali GE trading down by 10.72% at Rs67.45 followed by Rajesh Exports by 7.26% at Rs28.75, Videocon Inds by 6.04% at Rs109.60 and Titan Inds by 4.54% at Rs753.50.

The most active shares on NSE are Unitech trading at Rs.48.35 with a total traded quantity of 52412832 shares followed by Suzlon Energy trading at Rs.60.20 with a total traded quantity of 48271734 shares.

ACC is trading up by 3.97% at Rs637.85. The Company has posted a net profit of Rs 4047.637 million for the quarter ended March 31, 2009 where as the same was at Rs 3575.429 million for the quarter ended March 31, 2008. Total Income is Rs 21059.048 million for the quarter ended March 31, 2009 where as the same was at Rs 18618.962 million for the quarter ended March 31, 2008.

The Unaudited consolidated results for the Quarter ended March 31, 2009. The Group has posted a net profit of Rs 3993.415 million for the quarter ended March 31, 2009 where as the same was at Rs 3243.074 million for the quarter ended March 31, 2008. Total Income is Rs 22178.289 million for the quarter ended March 31, 2009 where as the same was at Rs 19533.374 million for the quarter ended March 31, 2008.

On the global markets front, the European markets are trading higher as the FTSE 100 and the DAX index are trading up by (0.21%) and (0.25%).

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