Monday, May 25, 2009

Market Turned Volatile - May 25, 2009

After opening on a positive note, the major Indian bourses drifted lower on account of mixed cues from global indices and F&O expiry ahead of this week. The domestic traders are trading cautiously as most of the Asian markets gave up its early gains after North Korea conducted a nuclear test.

On a stock specific news, Suzlon Energy is trading down by nearly 4% after a term sheet showed the company''s founders are selling about USD 120 million worth of existing shares at a discount of up to 3% to their Friday’s closing price. During the last hours'' trading session, buying interest is seen across Realty, Consumer Durable (CD) and Metal stocks whereas selling pressure has emerged across IT, Oil & Gas and Banking counters.

Among the BSE sectoral indices, Realty, CD and Metal stocks gained by 2.50%, 2.25% and 1.66% respectively, while the IT, Oil & Gas and Bankex declined by 0.99%, 0.69% and 0.01% respectively.

Overall the market breadth is positive as 2063 stocks are trading in green while 300 stocks are in red.

The BSE Sensex is up by 107.96 points at 13,995.11 while NSE Nifty up by 21.35 points at 4,259.85. Besides, the BSE Mid Cap and Small Cap are trading higher by 124.23 points and 228.24 points at 4,879.92 and 5,741.41 respectively.

Gainers from the BSE Sensex Pack are Ranbaxy Ltd surged by (6.72%) to Rs. 235.75, along with DLF Ltd by (5.15%) to Rs. 351.15, Jaiprakash Associate by (4.50%) at Rs. 181, Tata Power by (4.49%) at Rs. 1,091.55, Reliance Communication by (4.04%) at Rs. 328.3 and Sterlite Industries by (3.95%) at Rs. 528.

Gainers from the NSE Nifty Pack are Ranbaxy Lab up by (7.72%) at Rs. 237.25 along with BPCL by (5.38%) at Rs. 471.65, DLF Ltd by (5.36%) at Rs. 351.9, Tata Power by (4.40%) at Rs. 1,090, Sterlite Industries by (3.94%) at Rs. 527.85 and Reliance Communication by (3.61%) at Rs. 327.25.

BSE Realty is trading higher by (2.50%) or 82.73 points at 3,393.52. The top gainers in the index are Parsvnath surged by (9.41%) to Rs. 88.40 along with Orbit Co by (5.93%) to Rs. 151.85, DLF Ltd by (5.15%) to Rs. 351.15, Akruti City by (4.99%) to Rs. 494.15 and Anant Raj Industries by (4.98%) to Rs. 108.65.

BSE IT is trading lower by (0.99%) or 28 points at 2,801.93. The major losers are Mphasis Ltd down by (1.84%) at Rs. 312 along with Aptech Ltd by (1.61%) at Rs. 162.05, Infosys Tech by (1.41%) at Rs. 1,498 followed by Wipro Ltd by (1%) at Rs. 365.

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