Monday, June 22, 2009

Markets Are Trading Near Living Low - June 22, 2009

The markets lost further grounds and are now trading near the day’s low ahead of the expiry of the derivatives contracts later this week. Further the negative opening of the European markets also turned down the sentiments. The selling pressure was seen among the Oil & Gas, Power, Metal and Realty stocks. However, the buying interest was seen among the FMCG and Banking stocks.

The BSE Sensex is now trading below the 14400 mark while the NSE Nifty below the 4250 mark.

The overall market breadth is negative as 1109 stocks are advancing while 1407 stocks are declining in BSE.

ICICI Bank reported the top gainer from the BSE Sensex pack, as it is trading up by (2.58%) at Rs. 732.20 while Mahindra & Mahindra reported the top loser trading down by (4.36%) at Rs. 705.15.

The BSE Sensex is trading down by 171.04 points at 14,350.85 and the NSE Nifty is trading lower by 70.35 points or (1.63%) at 4,243.25.

The BSE Mid Cap decreased by 10.76 points or (0.22%) to 4,947.97 and the BSE Small Cap fell by 6.69 points or (0.12%) to 5,611.27.

The Oil and Gas index is trading lower by 281.33 points or 3% at 9,105.86. Losers from this pack are Reliance industries trading down by 3.43% at Rs1969.70 along with RPL by 3.39% at Rs122.45, RNRL by 3.30% at Rs89.45, Gail India by 2.57% at Rs280.10, BPAL by 2.02% at Rs415, Cairn India by 2.24% at Rs228.80, ONGC by 1.90% at Rs990.20 and IOCL by 1.50% at Rs543.50.

The Power index is trading with losses of 55.08 points or 1.95% at 2,776.68. Scrips from the losers pack are Crompton Greaves trading lower by 3.85% at Rs270 in line with Tata Power by 3.36% at Rs1125.20, GMR Infra by 3.34% at Rs 141.85, Neyveli Lignite by 2.76% at Rs118.10, NTPC by 2.73% at Rs192.70, Reliance Infra by 2.71% at Rs1228, Reliance Power by 1.96% at Rs172.45 and Suzlon Energy by 1.44% at Rs109.40.

The most active shares on NSE are IFCI trading at Rs 51.25 with a total traded quantity of 45298944 shares followed by Unitech trading at Rs.78.85 with a total traded quantity of 43284060 shares.

ONGC is trading down by 1.93% at Rs990.60. Oil & Natural Gas Corporation (ONGC) has made three oil and gas discoveries.

It has found oil in the Cambay basin, oil and gas in Matar area in Vadodara district (Gujarat) and gas in the Krishna-Godavari (KG) basin, according to the sources.

On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (1.19%), (1.36%) and (1.39%) respectively.

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