Market after a subdued opening, the key benchmark indices recover from the day’s low on selective buying across the indices. The market traded range bound with negative bias on the back of weak global nervousness and lack of clarity on the prospects of an economic rebound hit investor sentiments. Back home, the Finance Minister Pranab Mukherjee on Saturday said that the more steps may be taken by the government to ensure cheaper and adequate availability of funds to the private sector.
However, the high government''s market borrowing for the current financial year led to the fears that the high government''s borrowing will leave little money for the private sector to raise from the market.
The borrowings of the government is projected to be around Rs 4 lakh crore for this financial year in order to fund its high fiscal deficit pegged at 6.8 per cent of GDP.
On the other hand, the finance minister also dismissed the fears about the high fiscal deficit projected in the Budget for 2009-10 by saying that the RBI would be able to manage government borrowing programmes effectively.
On the top of that, the Finance Minister assured that interest rates would not increase in the coming few months due to borrowing programme of the government.
On the sectoral front, out of 13 Indices, 11 indices declined whereas only 2 indices advanced. The Realty and Consumer Durables index face the heat as both are trading with deep cut of more than 5% each.
The Market breadth, indicating the overall strength of the market, was negative. On BSE, out of 2,494 stocks traded so far, 2,018 shares declined while 419 shares advanced. Nearly 57 shares are unchanged.
The BSE Sensex is trading lower by 108.32 points at 13,395.90 whereas NSE Nifty is down by 32.75 points at 3,971.15.
The BSE Mid Cap is trading lower by 147.17 points at 4,571.42 and Small cap is trading down by 193.08 points at 5,041.42.
Losers from the BSE Sensex Pack are JP Associates weakened 6.90% to Rs. 173.40 along with M&M plunged 5.76% to Rs. 654, Reliance Infra by 5.68% to Rs. 971, DLF by 5.03% to Rs. 264.60, Tata Steel by 4.77% to Rs. 336.55 and Maruti Suzuki by 4.73% to Rs. 1,052.50 among others.
Major gainers from the BSE Sensex pack are Sun Pharma Limited inched up 1.98% to Rs. 1,143.05 along with Wipro Limited by 1.26% to Rs. 389.55, Infosys Technologies Limited improved by 1.25% to Rs. 1,748.10, SBI improved 0.93% to Rs. 1,558 and HDFC Limited advanced 0.56% to Rs. 2,211.50 among others.
The BSE Consumer Durables index is trading higher by 174.57 points or 6.30% at 2,594.23. Stocks trading in red are Rajesh Exports declined by 8.01% to Rs. 32.75, Titan Inds by 7.28% to Rs. 1,080, Blue Star by 6.57% to Rs. 310.50 and Videocon Inds by 4.77% to Rs. 144.80.
Sun Pharma improved 1.98% to Rs. 1,143.05. The company and US subsidiary Caraco Pharma have entered into an agreement with Forest Labs and H Lundbeck to settle legal proceedings related to Lexapro tablets.
Wipro Limited advanced 1.26% to Rs. 389.55 on the back of reports that many Israeli hi tech firms are in talks with Indian IT giants like, Wipro, TCS and many others.
Omaxe Limited is trading with deep cut of 5.84% at Rs. 75 despite the announcement by the company that M/s. Pancham Realcon Pvt. Limited, a subsidiary of the Company has entered into Memorandum of Understanding on July 09, 2009 with Allahabad Development Authority for the development of Hi-Tech Township in Allahabad on a proposed area of 1535.12 Acres.
However, the high government''s market borrowing for the current financial year led to the fears that the high government''s borrowing will leave little money for the private sector to raise from the market.
The borrowings of the government is projected to be around Rs 4 lakh crore for this financial year in order to fund its high fiscal deficit pegged at 6.8 per cent of GDP.
On the other hand, the finance minister also dismissed the fears about the high fiscal deficit projected in the Budget for 2009-10 by saying that the RBI would be able to manage government borrowing programmes effectively.
On the top of that, the Finance Minister assured that interest rates would not increase in the coming few months due to borrowing programme of the government.
On the sectoral front, out of 13 Indices, 11 indices declined whereas only 2 indices advanced. The Realty and Consumer Durables index face the heat as both are trading with deep cut of more than 5% each.
The Market breadth, indicating the overall strength of the market, was negative. On BSE, out of 2,494 stocks traded so far, 2,018 shares declined while 419 shares advanced. Nearly 57 shares are unchanged.
The BSE Sensex is trading lower by 108.32 points at 13,395.90 whereas NSE Nifty is down by 32.75 points at 3,971.15.
The BSE Mid Cap is trading lower by 147.17 points at 4,571.42 and Small cap is trading down by 193.08 points at 5,041.42.
Losers from the BSE Sensex Pack are JP Associates weakened 6.90% to Rs. 173.40 along with M&M plunged 5.76% to Rs. 654, Reliance Infra by 5.68% to Rs. 971, DLF by 5.03% to Rs. 264.60, Tata Steel by 4.77% to Rs. 336.55 and Maruti Suzuki by 4.73% to Rs. 1,052.50 among others.
Major gainers from the BSE Sensex pack are Sun Pharma Limited inched up 1.98% to Rs. 1,143.05 along with Wipro Limited by 1.26% to Rs. 389.55, Infosys Technologies Limited improved by 1.25% to Rs. 1,748.10, SBI improved 0.93% to Rs. 1,558 and HDFC Limited advanced 0.56% to Rs. 2,211.50 among others.
The BSE Consumer Durables index is trading higher by 174.57 points or 6.30% at 2,594.23. Stocks trading in red are Rajesh Exports declined by 8.01% to Rs. 32.75, Titan Inds by 7.28% to Rs. 1,080, Blue Star by 6.57% to Rs. 310.50 and Videocon Inds by 4.77% to Rs. 144.80.
Sun Pharma improved 1.98% to Rs. 1,143.05. The company and US subsidiary Caraco Pharma have entered into an agreement with Forest Labs and H Lundbeck to settle legal proceedings related to Lexapro tablets.
Wipro Limited advanced 1.26% to Rs. 389.55 on the back of reports that many Israeli hi tech firms are in talks with Indian IT giants like, Wipro, TCS and many others.
Omaxe Limited is trading with deep cut of 5.84% at Rs. 75 despite the announcement by the company that M/s. Pancham Realcon Pvt. Limited, a subsidiary of the Company has entered into Memorandum of Understanding on July 09, 2009 with Allahabad Development Authority for the development of Hi-Tech Township in Allahabad on a proposed area of 1535.12 Acres.
No comments:
Post a Comment