The key benchmark indices deteriorated after a strong intraday short lived recovery that gust the market in positive territory. Range bound volatility was seen after report that the government may rollback excise duty cuts in a bid to return to fiscal prudence amid slack revenue collections. Weak Asian stocks and selling by foreign funds raised question of recovery that put hold on market rally leading to spoilage in sentiments.
On the sectoral front, out of 13 Indices, 1 was traded in green whereas 12 were in red. Bank stocks nudged higher in a volatile trade on reporting higher advance tax figures in Q1 June 2009.
Metal stocks plunged after LMEX, a gauge of six metals traded on the London Metal Exchange dipped 0.33% yesterday extending losses for a fourth day in a row.
IT stocks advanced on hopes the Union Budget may extend the corporate tax holiday granted to export-oriented units and software parks by three more years, as the government looks forward facilitate companies in these segments reeling under a demand slump in key Western markets.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,495 stocks traded so far, 537 shares advanced while 1,891 shares declined. Nearly 67 shares are unchanged.
The BSE Sensex is trading lower by 244.32 points at 14,278.51 whereas NSE Nifty is down by 102.80 points at 4,253.35.
The BSE Mid Cap is trading lower by 182.60 points at 4,838.47 and Small cap is trading down by 201.84 points at 5,584.70.
Losers from the BSE Sensex Pack are ACC Ltd plunged 8.41% to Rs. 757.00 along with Jaiprakash Associates Ltd plunged 5.68% to Rs. 193.45, Tata Steel Ltd plunged 5.00% to Rs. 396.15, Grasim Industries Ltd plunged 3.95% to Rs. 2,225.00, NTPC Ltd 3.90% to Rs. 205.60, DLF Ltd by 3.02% to Rs. 323.25, Hindalco by 2.88% to Rs. 91.10 and ONGC Ltd 2.61% to Rs. 1,036.50 among others.
Major gainers from the BSE Sensex pack are State Bank of India Ltd 2.80% to Rs. 1,710.00, along with Infosys Technologies Ltd advanced 2.60% to Rs. 1,755.00, TCS Ltd spurted 2.24% to Rs. 387.50, Sun Pharma Ltd 1.84% to Rs. 1,320.55, Wipro Ltd by 1.68% to Rs. 385.00, Sterlite Industries Ltd by 1.48% to Rs. 612.00, Tata Power Ltd advanced 1.22% to Rs. 1,195.65 and Tata Motors Ltd advanced 1.19% to Rs. 328.10 among others.
The BSE Realty is lower by 196.29 points or 5.80% at 3,190.21. Stocks trading in red are Unitech Ltd plunged 8.16% to Rs. 77.10, Indiabulls Realty Ltd 6.29% to Rs. 187.00, Housing Development 5.59%% to Rs. 230.50, Orbitco Ltd by 4.99% to Rs. 173.35 and Parsvnath 4.82% to Rs. 85.00.
Autoline Industries Ltd fell 4.98% to Rs. 76.40, after net profit tumbled 81.3% to Rs 4.58 crore in the year ended March 2009 over the year ended March 2008.
Reliance Industries Ltd dropped 1.55% to Rs. 2,019.00 following an unfavorable court ruling on gas supplies from the Krishna-Godavari basin.
HBL Power Systems Ltd jumped 5% to Rs. 234.15 after the company said its board will meet on 25 June 2009 to consider stock split.
Tata Motors Ltd advanced 1.19% to Rs. 328.10 on reports the company is gearing up for a big-ticket launch of a sports utility vehicle by 2010.
Indiaco Ventures Ltd spurted 5.00% to Rs. 417.05 after the company fixed record date for a 5-for-1 stock split and a liberal 1:1 bonus issue.
Wockhardt Ltd fell 0.31% to Rs. 129.75 despite the company sold its German business Esparma to a unit of Germany''s Lindopharm Gmbh, as part of a restructuring process.
Deep Industries Ltd plunged 4.97% to Rs. 131.80 on profit taking after stock had surged over 32% in the preceding seven trading sessions.
Gujarat State Fertilizers & Chemicals Ltd fell 2.23% to Rs. 177.65 despite net profit galloped 244.64% to Rs. 98.43 crore in Q4 March 2009 over Q4 March 2008.
Kingfisher Airlines Ltd slipped 1.65% to Rs. 53.50 after it raised the fuel surcharge by Rs. 400 per ticket from 17 June 2009.
Shreyas Shipping & Logistics Ltd gained 0.15% to Rs. 33.65 despite consolidated net profit declined 13.5% to Rs 5.59 crore in the year ended March 2009 over the year ended March 2008.
On the sectoral front, out of 13 Indices, 1 was traded in green whereas 12 were in red. Bank stocks nudged higher in a volatile trade on reporting higher advance tax figures in Q1 June 2009.
Metal stocks plunged after LMEX, a gauge of six metals traded on the London Metal Exchange dipped 0.33% yesterday extending losses for a fourth day in a row.
IT stocks advanced on hopes the Union Budget may extend the corporate tax holiday granted to export-oriented units and software parks by three more years, as the government looks forward facilitate companies in these segments reeling under a demand slump in key Western markets.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,495 stocks traded so far, 537 shares advanced while 1,891 shares declined. Nearly 67 shares are unchanged.
The BSE Sensex is trading lower by 244.32 points at 14,278.51 whereas NSE Nifty is down by 102.80 points at 4,253.35.
The BSE Mid Cap is trading lower by 182.60 points at 4,838.47 and Small cap is trading down by 201.84 points at 5,584.70.
Losers from the BSE Sensex Pack are ACC Ltd plunged 8.41% to Rs. 757.00 along with Jaiprakash Associates Ltd plunged 5.68% to Rs. 193.45, Tata Steel Ltd plunged 5.00% to Rs. 396.15, Grasim Industries Ltd plunged 3.95% to Rs. 2,225.00, NTPC Ltd 3.90% to Rs. 205.60, DLF Ltd by 3.02% to Rs. 323.25, Hindalco by 2.88% to Rs. 91.10 and ONGC Ltd 2.61% to Rs. 1,036.50 among others.
Major gainers from the BSE Sensex pack are State Bank of India Ltd 2.80% to Rs. 1,710.00, along with Infosys Technologies Ltd advanced 2.60% to Rs. 1,755.00, TCS Ltd spurted 2.24% to Rs. 387.50, Sun Pharma Ltd 1.84% to Rs. 1,320.55, Wipro Ltd by 1.68% to Rs. 385.00, Sterlite Industries Ltd by 1.48% to Rs. 612.00, Tata Power Ltd advanced 1.22% to Rs. 1,195.65 and Tata Motors Ltd advanced 1.19% to Rs. 328.10 among others.
The BSE Realty is lower by 196.29 points or 5.80% at 3,190.21. Stocks trading in red are Unitech Ltd plunged 8.16% to Rs. 77.10, Indiabulls Realty Ltd 6.29% to Rs. 187.00, Housing Development 5.59%% to Rs. 230.50, Orbitco Ltd by 4.99% to Rs. 173.35 and Parsvnath 4.82% to Rs. 85.00.
Autoline Industries Ltd fell 4.98% to Rs. 76.40, after net profit tumbled 81.3% to Rs 4.58 crore in the year ended March 2009 over the year ended March 2008.
Reliance Industries Ltd dropped 1.55% to Rs. 2,019.00 following an unfavorable court ruling on gas supplies from the Krishna-Godavari basin.
HBL Power Systems Ltd jumped 5% to Rs. 234.15 after the company said its board will meet on 25 June 2009 to consider stock split.
Tata Motors Ltd advanced 1.19% to Rs. 328.10 on reports the company is gearing up for a big-ticket launch of a sports utility vehicle by 2010.
Indiaco Ventures Ltd spurted 5.00% to Rs. 417.05 after the company fixed record date for a 5-for-1 stock split and a liberal 1:1 bonus issue.
Wockhardt Ltd fell 0.31% to Rs. 129.75 despite the company sold its German business Esparma to a unit of Germany''s Lindopharm Gmbh, as part of a restructuring process.
Deep Industries Ltd plunged 4.97% to Rs. 131.80 on profit taking after stock had surged over 32% in the preceding seven trading sessions.
Gujarat State Fertilizers & Chemicals Ltd fell 2.23% to Rs. 177.65 despite net profit galloped 244.64% to Rs. 98.43 crore in Q4 March 2009 over Q4 March 2008.
Kingfisher Airlines Ltd slipped 1.65% to Rs. 53.50 after it raised the fuel surcharge by Rs. 400 per ticket from 17 June 2009.
Shreyas Shipping & Logistics Ltd gained 0.15% to Rs. 33.65 despite consolidated net profit declined 13.5% to Rs 5.59 crore in the year ended March 2009 over the year ended March 2008.
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