Thursday, May 21, 2009

Market Follows Global Trend: Trading In Red - May 21, 2009

After a subdued start the key benchmark indices are now trading in negative with weak global cues triggering selling in blue chip stocks. Besides, the sentiments across the Asian markets were also bleak, after an announcement made by U.S. Federal Reserve that economic recovery will take longer time in U.S. On a stock specific news, Tata motors is trading up by nearly 2% as country’s largest automaker Tata Motors has raised Rs 4,200 crore through the issue of secured non-convertible debentures (NCD) in the local market.

During the last hours'' trading session, buying interest is seen across Realty and Consumer Durable (CD) stocks whereas selling pressure has emerged across Banking, Capital Goods (CG) and Auto counters.

Among the BSE sectoral indices, Realty, CD and PSU stocks surged by 3.14%, 3.13% and 2.78% respectively, while the BSE Bankex, CG and Auto declined by 2.28%, 1.98% and 1.77% respectively.

Overall the market breadth is positive as 1990 stocks are trading in green while 307 stocks are in red.

The BSE Sensex is down by 135.96 points at 13,924.69 while NSE Nifty declined by 8.14 points at 4,262.15. Besides, the BSE Mid Cap and Small Cap are trading higher by 117.15 points and 276.53 points at 4,790.92 and 5,484.72 respectively.

Losers from the BSE Sensex Pack are Maruti Suzuki declined by (7.06%) to Rs. 969.7, along with L&T Ltd by (3.73%) to Rs. 1,308.7, ICICI Bank by (3.65%) at Rs. 682.9, Mahindra & Mahindra Ltd by (3.40%) at Rs. 655.6, HDFC by (3.21%) at Rs. 2,139 and SBI by (2.93%) at Rs. 1,728.

Losers from the NSE Nifty Pack are Maruti Suzuki down by (7.47%) at Rs. 964 along with L&T Ltd by (4.05%) at Rs. 1,306.1, Tata Communication by (3.93%) at Rs. 588, Idea Cellular by (3.65%) at Rs. 70, Mahindra & Mahindra by (3.56%) at Rs. 654 and ICICI Bank by (3.39%) at Rs. 684.85.

BSE Realty is trading up by (3.14%) or 3,467.02 points at 3,467.02. The top gainers in the index are Sobha Developer surged by (9.98%) to Rs. 186.85 along with Parsvanath by (9.98%) to Rs. 82.65, Omaxe Ltd by (9.97%) to Rs. 93.20, Ansal Infra by (6.86%) to Rs. 56.85, followed by Orbit Co by (6.20%) at Rs. 151.50.

BSE Bankex is trading down by (2.28%) or 180.5 points at 7,739.03. The major losers are Indian Overseas down by (6.32%) at Rs. 85.90 along with Kotak Bank by (3.96%) at Rs. 635, ICICI Bank by (3.65%) at Rs. 682.90 followed by Yes Bank by (3.37%) at Rs. 129.

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