The market slipped into negative territory. After gap down opening lingered by weak global cues, markets pared off losses to trade in green. Some support also came from index heavyweight Reliance Industries as it rose on bargain hunting after last two day''s of fall.
However, the data on advance tax payment for the first quarter of the fiscal year indicated little sign of recovery in manufacturing sector and its is still questioned, while on the other hand financial sector remains buoyant.
On the sectoral front, out of 13 Indices, 4 were traded in green whereas 9 were in red. Oil stocks plunged as the dollar bounce from its lows. Bank stocks declined as higher bond yields will result in diminution in valuation of banks bond portfolio.
Metal stocks retreated after a gauge of six metals traded on the London Metal Exchange dipped for a third day in a row overnight, the longest losing stretch since February 2009.
IT stocks drifted down on weak US industrial production data. Capital goods stocks fell on profit taking after a recent sharp surge lingered by hopes the government may boost spending on the infrastructure sector.
The Market breadth, indicating the overall strength of the market, was positive. On BSE, out of 2,598 stocks traded so far, 1,280 shares advanced while 1,236 shares declined. Nearly 82 shares are unchanged.
The BSE Sensex is trading lower by 148.89 points at 14,809.01 whereas NSE Nifty is down by 64.00 points at 4,453.80.
The BSE Mid Cap is trading lower by 39.50 points at 5,186.66 and Small cap is trading down by 13.83 points at 5,997.53.
Major gainers from the BSE Sensex pack are Reliance Infra Limited 4.65% to Rs. 1,327.50, along with ICICI Bank Limited advanced 1.90% to Rs. 747.30, DLF Limited spurted 1.84% to Rs. 359.80, HDFC Bank Limited 1.51% to Rs. 1,570.65, Bharti Airtel Limited by 1.40% to Rs. 819.20, Tata Power Limited by 1.20% to Rs. 1,195.00, Reliance Communication Limited by 0.67% to Rs. 330.65 and Reliance Industries Limited advanced 0.63% to Rs. 2,155.00 among others.
Losers from the BSE Sensex Pack are Tata Steel Limited plunged 3.55% to Rs. 434.90 along with ONGC Limited plunged 2.28% to Rs. 1,098.90, Mahindra & Mahindra Limited plunged 2.26% to Rs. 757.00, Wipro Limited plunged 2.07% to Rs. 388.80, ACC Limited 2.07% to Rs. 835.50, BHEL Limited by 1.77% to Rs. 2,117.50, Larsen & Toubro Limited by 1.48% to Rs. 1,504.00 and TCS Limited 1.15% to Rs. 385.30 among others.
The BSE Metal is lower by 248.43 points or 2.08% at 11,712.95. Stocks trading in red are Tata Steel Limited plunged 3.55% to Rs. 434.90, JSW Steel Limited 3.48% to Rs. 658.90, Sesa Goa Limited 3.31%% to Rs. 194.10, NMDC Limited by 3.10% to Rs. 391.00 and Welspun Gujarat 2.98% to Rs. 211.40.
IRB Infrastructure Developers Limited zoomed 5.55% to Rs. 143.60 on news the company said it was the lowest bidder for a national highway project in Karnataka, which means it will bag the contract.
Jupiter Bioscience Limited plunged 4.44% to Rs. 71.00 on report foreign fund CLSA (Mauritius) offloaded 1.66 lakh shares in the pharma firm through a bulk deal on Tuesday, 16 June 2009.
Godrej Consumer Products Limited fell 0.29% to Rs. 171.30 despite acquiring the balance 50% stake in Godrej SCA Hygiene for an undisclosed amount.
IVRCL Infrastructures & Projects Limited surged 2.05% to Rs. 331.55 after the company bagged new orders aggregating Rs. 432.36 crore.
Dhanuka Agritech Limited jumped 10.75% to Rs. 206.00 after net profit surged 51.6% to Rs 5.14 crore in Q4FY09 over Q4FY08.
Jindal Steel & Power Limited fell 3.12% to Rs. 2,547.95 on buying by index futures after the stock entered the S&P CNX Nifty index
Kavveri Telecom Products Limited surged 4.99% to Rs. 60.90 on reporting a net loss of Rs. 1.56 crore in Q4FY09 as compared to net profit of Rs. 3.11 crore in Q4FY08.
Power Grid Corporation of India Limited surged 0.12% to Rs. 122.65 after net profit jumped 155.9% to Rs. 616.14 crore in Q4FY09 over Q4FY08.
However, the data on advance tax payment for the first quarter of the fiscal year indicated little sign of recovery in manufacturing sector and its is still questioned, while on the other hand financial sector remains buoyant.
On the sectoral front, out of 13 Indices, 4 were traded in green whereas 9 were in red. Oil stocks plunged as the dollar bounce from its lows. Bank stocks declined as higher bond yields will result in diminution in valuation of banks bond portfolio.
Metal stocks retreated after a gauge of six metals traded on the London Metal Exchange dipped for a third day in a row overnight, the longest losing stretch since February 2009.
IT stocks drifted down on weak US industrial production data. Capital goods stocks fell on profit taking after a recent sharp surge lingered by hopes the government may boost spending on the infrastructure sector.
The Market breadth, indicating the overall strength of the market, was positive. On BSE, out of 2,598 stocks traded so far, 1,280 shares advanced while 1,236 shares declined. Nearly 82 shares are unchanged.
The BSE Sensex is trading lower by 148.89 points at 14,809.01 whereas NSE Nifty is down by 64.00 points at 4,453.80.
The BSE Mid Cap is trading lower by 39.50 points at 5,186.66 and Small cap is trading down by 13.83 points at 5,997.53.
Major gainers from the BSE Sensex pack are Reliance Infra Limited 4.65% to Rs. 1,327.50, along with ICICI Bank Limited advanced 1.90% to Rs. 747.30, DLF Limited spurted 1.84% to Rs. 359.80, HDFC Bank Limited 1.51% to Rs. 1,570.65, Bharti Airtel Limited by 1.40% to Rs. 819.20, Tata Power Limited by 1.20% to Rs. 1,195.00, Reliance Communication Limited by 0.67% to Rs. 330.65 and Reliance Industries Limited advanced 0.63% to Rs. 2,155.00 among others.
Losers from the BSE Sensex Pack are Tata Steel Limited plunged 3.55% to Rs. 434.90 along with ONGC Limited plunged 2.28% to Rs. 1,098.90, Mahindra & Mahindra Limited plunged 2.26% to Rs. 757.00, Wipro Limited plunged 2.07% to Rs. 388.80, ACC Limited 2.07% to Rs. 835.50, BHEL Limited by 1.77% to Rs. 2,117.50, Larsen & Toubro Limited by 1.48% to Rs. 1,504.00 and TCS Limited 1.15% to Rs. 385.30 among others.
The BSE Metal is lower by 248.43 points or 2.08% at 11,712.95. Stocks trading in red are Tata Steel Limited plunged 3.55% to Rs. 434.90, JSW Steel Limited 3.48% to Rs. 658.90, Sesa Goa Limited 3.31%% to Rs. 194.10, NMDC Limited by 3.10% to Rs. 391.00 and Welspun Gujarat 2.98% to Rs. 211.40.
IRB Infrastructure Developers Limited zoomed 5.55% to Rs. 143.60 on news the company said it was the lowest bidder for a national highway project in Karnataka, which means it will bag the contract.
Jupiter Bioscience Limited plunged 4.44% to Rs. 71.00 on report foreign fund CLSA (Mauritius) offloaded 1.66 lakh shares in the pharma firm through a bulk deal on Tuesday, 16 June 2009.
Godrej Consumer Products Limited fell 0.29% to Rs. 171.30 despite acquiring the balance 50% stake in Godrej SCA Hygiene for an undisclosed amount.
IVRCL Infrastructures & Projects Limited surged 2.05% to Rs. 331.55 after the company bagged new orders aggregating Rs. 432.36 crore.
Dhanuka Agritech Limited jumped 10.75% to Rs. 206.00 after net profit surged 51.6% to Rs 5.14 crore in Q4FY09 over Q4FY08.
Jindal Steel & Power Limited fell 3.12% to Rs. 2,547.95 on buying by index futures after the stock entered the S&P CNX Nifty index
Kavveri Telecom Products Limited surged 4.99% to Rs. 60.90 on reporting a net loss of Rs. 1.56 crore in Q4FY09 as compared to net profit of Rs. 3.11 crore in Q4FY08.
Power Grid Corporation of India Limited surged 0.12% to Rs. 122.65 after net profit jumped 155.9% to Rs. 616.14 crore in Q4FY09 over Q4FY08.
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