Thursday, June 11, 2009

Market Turns Explosive Among Mixed Global Cues - June 11, 2009

After a flat start, market is seeing some sell-off today as most of the funds and investors indulged in booking profits at higher levels amid a weak trend in the global markets. On a stock specific news, Satyam Computer hit the upper limit for the third consecutive straight session today on BSE after the scam-tainted firm came out with better-than expected results.

During the last hours'' trading session, selling pressure has emerged across IT, PSU and Capital Goods (CG) stocks whereas buying interest is seen across Metal, HC and FMCG counters.

Among the BSE sectoral indices, IT, PSU and CG stocks down by 2.68%, 1.26% and 1.13% respectively, while the BSE Metal, Healtcare and FMCG surged by 1.20%, 0.99% and 0.54% respectively.

Overall market breadth is negative. Out of the total 2,238 stocks traded at BSE, 1,445 declined, 736 advanced while 57 remained unchanged.

The BSE Sensex is marginal down by 14 points at 15,452.81 while NSE Nifty surged by 1.35 points at 4,656.6. Besides, the BSE Mid Cap is trading higher by mere 23.46 points at 5,382.96 whereas Small Cap is trading down by 12.13 points at 6,194.29 respectively.

Losers from the BSE Sensex Pack are ACC Limited declined by (3.90%) to Rs. 862.35, along with Infosys Tech Limited by (3.04%) to Rs. 1,748.5, ONGC Limited by (2.89%) at Rs. 1,131, Wipro Limited by (2.70%) at Rs. 421, Jai prakash associate by (2.17%) at Rs. 218.9 and BHEL by (2.13%) at Rs. 2,302.7.

Losers from the NSE Nifty Pack are ACC Limited down by (3.59%) at Rs. 867 along with Infosys Tech Limited by (3.51%) at Rs. 1,745.35, ONGC Limited by (3.40%) at Rs. 1,126.5, Wipro Limited by (3.10%) at Rs. 418.9, Punjab National Bank by (2.77%) at Rs. 615 and BPCL by (2.64%) at Rs. 436.

BSE IT is trading lower by (2.68%) or 90.90 points at 3,302.02. The top losers in the index are Infosys Technologies by (3.04%) to Rs. 1,745 along with Wipro Limited declined by (2.70%) to Rs. 421, Finance Technologies by (2.70%) to Rs. 1,424.90, Oracle Fin by (2.04%) to Rs. 1,311, followed by Patni Computers by (1.89%) at Rs. 255.

BSE Metal is trading higher by (1.20%) or 140.10 points at 11,784.99. The major gainers are National Aluminium Company surged by (5.26%) at Rs. 363.25 along with Tata Steel by (3.98%) at Rs. 457, JSW SL by (3.30%) at Rs. 602 followed by Sterlite Industries by (2.46%) at Rs. 680.

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