Tuesday, June 23, 2009

Market Nosedives: Metal Among The Top Losers - June 23, 2009

The pessimistic bearish global cues have pushed the domestic benchmark indices into the southward direction. Further, the profit booking pressure has crept in across the broader level due to lack of encouraging news in the domestic arena. On a stock specific move, NTPC is trading higher by nearly 1% after an acquisition of 44.6% stake in Kerala-based heavy-duty transformer maker Transformers and Electricals Kerala for Rs 31.34 crore.

During the last hours'' trading session, almost all the sectoral indices in the BSE are trading in the red territory.

Among the BSE sectoral indices, Metal, Realty and Bankex stocks dipped by 3.92%, 3.59% and 3.36% respectively, while BSE Oil & Gas is the alone index trading with a marginal gain of 0.02%.

Overall the market breadth is negative as 1,578 stocks are trading in red while 439 stocks are in green.

The BSE Sensex is down by 241.27 points at 14,084.95 while NSE Nifty declined by 63.35 points at 4,171.9.

Besides, the BSE Mid Cap and Small Cap are also trading lower by 103.86 points and 140.75 points at 4,826.64 and 5,458.81 respectively.

Losers from the BSE Pack are Hindalco Industries down by (6.46%) at Rs. 78.9 along with Jaiprakash associate by (5.60%) at Rs. 189.5, Sterlite Industries by (5.55%) at Rs. 561, ICICI Bank by (5.10%) at Rs. 689.8, DLF Limited by (4.52%) at Rs. 308.45 and Reliance Communication by (4.10%) at Rs. 284.3.

Losers from the NSE Sensex Pack are Sterlite Industries declined by (6.22%) to Rs. 557.5, along with Unitech Limited by (5.99%) to Rs. 73, Hindalco Industries by (5.93%) at Rs. 79.25, ICICI Bank Limited by (5.27%) at Rs. 692.5, National Aluminium Company by (4.94%) at Rs. 318.5 and ITC Limited by (4.53%) at Rs. 194.

BSE Metal is trading lower by (3.92%) or 422.65 points at 10,353.50. The major losers are JSW SL declined by (5.61%) at Rs. 552 along with Hindalco Industries by (6.46%) at Rs. 78.9, Sterlite Industries by (5.55%) at Rs. 561, National Aluminium by (5.08%) at Rs. 317.95 followed by Sesa Goa Limited by (4.58%) at Rs. 181.15.

BSE Realty is trading lower by (3.59%) or 115.43 points at 3,097.67. The top losers in the index are Unitech Limited declined by (5.86%) to Rs. 73.10 along with Omaxe Limited by (5.62%) to Rs. 90.70, Indiabul Real by (5.12%) to Rs. 184.50 followed by Housing Deve by (5%) at Rs. 210.

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