The Indian stock market is trading with marginal gains due to selective buying by the investors from the capital goods as well as health care and bankex stocks. The market is swinging in the positive and negative territory since the initial bell as the profit booking takes a lead at the higher level. The Indian benchmark indices are struggling to maintain the momentum as the volatility grips the market.
The investors are taking calculated steps to book their positions tracking the weak Asian markets and broke down of the cabinet seat sharing talks between the Congress and DMK party. The bank of Japan today acknowledged that there are signs of improvement in the economy for the first time in almost three years.
More the unfavoring cues from the US markets also hurting the investors sentiments. The worse-than-expected jobless claims in US reiterated the fact that economic conditions of US is still worsening. Initial claims for the week ended May 16 inclined by 631,000 to pile up the continuing claims climbed to a new record of 6.66 million.
The Fed had yesterday pointed out the economic worry of US and sooner than later Standard & Poor has down graded the UK economy by lowering the rating of the government’s bonds on deep concerns of the net deficit which is expected to reach 100% of the GDP.
On the sectoral front, buying is seen from the Capital Goods as well as Health Care and Bankex index, which are trading with gains of more than 1% each. While the Auto, and Consumer Durables are trading with losses of more than 1% each.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,661 stocks traded so far, 1,760 shares advanced while 846 shares declined. Nearly 55 shares are unchanged.
The BSE Sensex is trading higher by 86.35 points at 13,822.89 and NSE Nifty is trading up by 13 points at 4,223.90.
The BSE Mid Cap is trading up by 25.09 points at 4,698.96 and Small cap is trading higher by 95.38 points at 5,437.91.
Losers from the BSE Sensex Pack are ONGC trading lower by 4.25% to Rs. 1029 along with Sterlite Inds by 3.94% to Rs. 510, M&M by 3.52% to Rs. 630.20, ACC by 3.37% at Rs 718, Tata Motors by 3.06% at Rs346.50 and DLF by 2.54% at Rs333.25.
The BSE Consumer Durables index is trading lower by 48.31 points or 1.90% at 2,488.09. Stocks trading in on the backfoot are Titan Inds trading down by 3% at Rs 1,046.55 followed by Videoon Inds by 1.59% to Rs. 142.80 and Gitanjali GE by 0.26% at Rs 94.45.
The BSE Metal index is trading with deep cut of 159.10 points or 1.63% at 9,599.42. Losers from this pack are Sterlite Industries trading down by 3.96% at Rs. 509.90 along with Sesa Goa Ltd by 3.03% at Rs. 156.70, Nalco by 2.47% at Rs. 354, Hindalco Inds by 1.96% at Rs. 77.35 and SAIL by 1.27% at Rs. 155.80.
Ranbaxy Laboratories Ltd is trading lower by 0.47% at Rs222.60. Ranbaxy Labs has acquired trademarks, product dossiers and marketing rights from Ochoa Laboratories Ltd (Ochoa) for its entire range of Dermatological and Lidrstyle products.
The acquired brands command considerable equity with doctors and are market leaders in their respective categories. They complement Ranbaxy’s existing derma portfolio. The products enjoy high margins because of their novelty and brand appeal and will be initially marketed in India.
The investors are taking calculated steps to book their positions tracking the weak Asian markets and broke down of the cabinet seat sharing talks between the Congress and DMK party. The bank of Japan today acknowledged that there are signs of improvement in the economy for the first time in almost three years.
More the unfavoring cues from the US markets also hurting the investors sentiments. The worse-than-expected jobless claims in US reiterated the fact that economic conditions of US is still worsening. Initial claims for the week ended May 16 inclined by 631,000 to pile up the continuing claims climbed to a new record of 6.66 million.
The Fed had yesterday pointed out the economic worry of US and sooner than later Standard & Poor has down graded the UK economy by lowering the rating of the government’s bonds on deep concerns of the net deficit which is expected to reach 100% of the GDP.
On the sectoral front, buying is seen from the Capital Goods as well as Health Care and Bankex index, which are trading with gains of more than 1% each. While the Auto, and Consumer Durables are trading with losses of more than 1% each.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,661 stocks traded so far, 1,760 shares advanced while 846 shares declined. Nearly 55 shares are unchanged.
The BSE Sensex is trading higher by 86.35 points at 13,822.89 and NSE Nifty is trading up by 13 points at 4,223.90.
The BSE Mid Cap is trading up by 25.09 points at 4,698.96 and Small cap is trading higher by 95.38 points at 5,437.91.
Losers from the BSE Sensex Pack are ONGC trading lower by 4.25% to Rs. 1029 along with Sterlite Inds by 3.94% to Rs. 510, M&M by 3.52% to Rs. 630.20, ACC by 3.37% at Rs 718, Tata Motors by 3.06% at Rs346.50 and DLF by 2.54% at Rs333.25.
The BSE Consumer Durables index is trading lower by 48.31 points or 1.90% at 2,488.09. Stocks trading in on the backfoot are Titan Inds trading down by 3% at Rs 1,046.55 followed by Videoon Inds by 1.59% to Rs. 142.80 and Gitanjali GE by 0.26% at Rs 94.45.
The BSE Metal index is trading with deep cut of 159.10 points or 1.63% at 9,599.42. Losers from this pack are Sterlite Industries trading down by 3.96% at Rs. 509.90 along with Sesa Goa Ltd by 3.03% at Rs. 156.70, Nalco by 2.47% at Rs. 354, Hindalco Inds by 1.96% at Rs. 77.35 and SAIL by 1.27% at Rs. 155.80.
Ranbaxy Laboratories Ltd is trading lower by 0.47% at Rs222.60. Ranbaxy Labs has acquired trademarks, product dossiers and marketing rights from Ochoa Laboratories Ltd (Ochoa) for its entire range of Dermatological and Lidrstyle products.
The acquired brands command considerable equity with doctors and are market leaders in their respective categories. They complement Ranbaxy’s existing derma portfolio. The products enjoy high margins because of their novelty and brand appeal and will be initially marketed in India.
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