Tuesday, June 2, 2009

Market Lackluster: PSU And Realty Among Major Losers - June 02, 2009

After opening on positive note, the benchmark indices turned volatile. Traders are booking profits at higher levels cashing on the rally witnessed in the previous session. On a stock specific move, Spice Jet is trading up by over 2% after an announcement that company is looking to acquire a rival budget airline to start international and regional operations.

During the last hours'' trading session, selling pressure has emerged across PSU, Realty and Power stocks whereas buying interest is seen across Auto, FMCG and IT counters.

Among the BSE sectoral indices, PSU, Realty and Power stocks dipped by 1.60%, 1.38% and 1.27% respectively, while the Auto and FMCG indices surged by 1.02% and 0.91% respectively.

Overall the market breadth is negative as 1241 stocks are trading in red while 1178 stocks are in green.

The BSE Sensex declined by 104.3 points at 14,736.33 while NSE Nifty down by 39.39 points at 4,490.5. Besides, the BSE Mid Cap and Small Cap are lower by 38.71 points and 50.25 points at 5,165.5 and 6,146.52 respectively.

Losers from the BSE Sensex Pack are Ranbaxy Lab down by (3.86%) to Rs. 264, along with Reliance Infrastructure by (3.62%) to Rs. 1,253.8, Jaiprakash Associate by (3.32%) at Rs. 212.9, ACC Limited by (3.01%) at Rs. 808, HDFC Bank by (2.72%) at Rs. 1,394 and Reliance Communication by (2.01%) at Rs.314.3.

Losers from the NSE Nifty Pack are Ranbaxy Lab declined by (4.26%) at Rs. 262.95 along with Reliance Infrastructure Limited by (3.80%) at Rs. 1,252.4, BPCL by (3.51%) at Rs. 455.1, HDFC Bank Limited by (3.14%) at Rs. 1,388.6, Idea Cellular by (3.04%) at Rs. 79.7 and Suzlon Energy (2.86%) at Rs. 110.5.

BSE PSU is trading lower by (1.60%) or 137.21 points at 8,420.72. The top losers in the index are Bank of India declined by (6.21%) to Rs. 326 along with Neyveli Lig by (5.29%) to Rs. 136, NMDC by (5%) to Rs. 433.65, followed by Vijaya Bank by (4.91%) at Rs. 44.50.

BSE Realty is trading lower by (1.38%) or 55.79 points at 3,979.80. The major losers are Indiabulls Real declined by (6.64%) at Rs. 232 along with Phoenix mill by (3.73%) at Rs. 142, Omaxe Limited by (3.71%) at Rs. 102.45, Parsvnath Dev by (3.35%) at Rs. 98.2 followed by Sobha Dev by (2.36%) at Rs. 196.7.

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