Wednesday, May 20, 2009

Markets Are Still Trading Under Pressure - May 20, 2009

The markets are still trading under pressure as sell off continued among the frontline indices. However, the broader markets indices continued their upward rally. The Consumer Durables index today outperformed the benchmark index today as it is now trading with a gain of more than 8.5%.

The huge selling is seen among the Banking and Oil & Gas stocks. However, the buying interest continued among the Metal, Auto, Pharma and Capital Goods stocks.

The BSE Sensex is now trading below the 14,100 mark and the NSE Nifty below the 4,300 mark. The BSE Mid Cap is now trading with a gain of more than 5.5% and the BSE Small Cap index with a gain of more than 8%.

The overall market breadth is positive as 2275 stocks are advancing while 349 stocks are declining in BSE.

Tata Motors reported the top gainer from the BSE Sensex pack, as it is trading up by (20.98%) at Rs. 369.60 while Bharti Airtel reported the top loser trading down by (6.96%) at Rs. 851.

BSE Sensex is at 14,069.75 down by 232.28 points and Nifty is at 4,271.20 down by 47.25 points.

The BSE Mid Cap is higher by 255.21 points at 4,663.03 and the BSE Small Cap increased by 388.26 points to 5,172.40.

The Metal index is trading with decent gains of 562.19 points or 5.97% at 9,978.11. Pushing it are Tata Steel trading with decent gains of 12.11% at Rs369 followed by Ispat Inds by 10.60% at Rs18.47, Welspun Guj by 7.67% at Rs146, JSW Steel by 7.29% at Rs513.50, Jindal Steel by 6.12% at Rs2136.25, NMDC by 6.16% at Rs276.40, Jindal Saw by 5.82% at Rs370.90 and Hindalco Inds by 5.48% at Rs81.80.

Gainers from the Auto index are Tata Motors trading up by 17.59% at Rs359.25 along with Escorts Ltd by 9.80% at Rs51, M&M by 6.65% at Rs669.05, Bosch by 6.31% at Rs3200, Exide inds by 6.40% at Rs64, Maruti Suzuki by 5.22% at Rs1051.10, Cummins by 4.94% at Rs270 and Ashok Leyland by 3.60% at Rs30.25.

The most active shares on NSE are Unitech trading at Rs 73.65 with a total traded quantity of 93802283 shares followed by RNRL trading at Rs.73.05 with a total traded quantity of 54745634 shares.

On the global markets front, the European markets are trading higher as the DAX index is trading up by (0.72%).

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