Markets at broader level plunged in deep red after the UPA budget session which didn’t turn up to investors'' expectations. On a macro level the government allocated Rs. 4,000 crore as an incentive lending to small firms. Also, it extended interest subvention to exporters to seven sectors till March 2010 and will support to exporters hit by global financial crisis.
The government has extended agriculture debt waiver by 6 months and provided additional Rs. 1,000 crore for irrigation.
On the sectoral front, out of 13 Indices, 2 indices advanced whereas 11 indices declined. Fertilizer stocks came under pressure after Finance Minister proposed to change the method of subsidizing fertilizer prices.
Bank stocks fell as government stated that banks and insurance sector will exclude from the divestment plan. Agriculture stocks gained after government thrust on the agriculture sector.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,502 stocks traded so far, 705 shares advanced while 1,729 shares declined. Nearly 68 shares are unchanged.
The BSE Sensex is trading lower by 607.60 points at 14,305.44 whereas NSE Nifty is down by 190.59 points at 4,233.65.
The BSE Mid Cap is trading lower by 138.05 points at 5,049.16 and Small cap is trading down by 126.88 points at 5,698.07.
Losers from the BSE Sensex Pack are Reliance Infra plunged 8.31% to Rs. 1184.80 along with Housing Development Finance Co by 7.63% to Rs. 2,388.80, ICICI Bank Limited 7.62% to Rs. 696.60, Tata Steel Limited by 6.67% to Rs. 409.05, HDFC Bank by 6.24% to Rs. 1,421.75, State Bank of India Limited 6.06% to Rs. 1,701.00, Reliance Communication Limited 5.30% to Rs. 276.90, Jaiprakas Associates Limited by 5.08% to Rs. 203.50 and Hindalco Ind slipped 5.01% to Rs. 79.55 among others.
Lone gainer from BSE Sensex was ITC Limited that gained by 2.66% to Rs. 196.90.
The BSE Bankex is lower by 521.85 points or 6.17% at 7,937.85. Stocks trading in red are IDBI Bank Limited fell 8.33% to Rs. 102.95, ICICI Bank Limited 7.62% to Rs. 696.60, Axis Bank 6.29% to Rs. 817.00, HDFC Bank by 6.24% to Rs. 1,421.75 and State Bank of India Limited 6.06% to Rs. 1,701.00 among others.
Glodyne Technoserve Limited fell 2.61% to Rs. 485.95, on profit taking after the stock surged around 24% in the preceding six trading sessions.
SpiceJet Limited gained 0.51% to Rs. 19.55 on reports its major investors have asked to look for acquisition opportunities in the local market.
Hindustan Dorr-Oliver Limited advanced 1.99% to Rs. 97.40 after the company bagged an order worth Rs. 60.30 crore.
Prakash Industries Limited fell 1.39% to Rs. 113.30 despite report the company will raise $100 million through issuing foreign currency convertible bonds to fund its proposed 625 megawatt thermal power project at Chhattisgarh.
DLF Limited plunged 5.04% to Rs. 320.00 despite reports the company has raised Rs. 1,000 crore through sale of land parcels across four cities in the past 4-5 weeks.
Housing Development and Infrastructure Limited fell 2.02% to Rs. 235.05 despite reports a clutch of foreign and domestic institutional investors acquired stakes in the company through a recently completed qualified institutional placement.
Ashok Leyland Limited plunged 5.17% to Rs. 30.25, after total sales declined 44.41% to 3,971 units in June 2009 over June 2008.
The government has extended agriculture debt waiver by 6 months and provided additional Rs. 1,000 crore for irrigation.
On the sectoral front, out of 13 Indices, 2 indices advanced whereas 11 indices declined. Fertilizer stocks came under pressure after Finance Minister proposed to change the method of subsidizing fertilizer prices.
Bank stocks fell as government stated that banks and insurance sector will exclude from the divestment plan. Agriculture stocks gained after government thrust on the agriculture sector.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,502 stocks traded so far, 705 shares advanced while 1,729 shares declined. Nearly 68 shares are unchanged.
The BSE Sensex is trading lower by 607.60 points at 14,305.44 whereas NSE Nifty is down by 190.59 points at 4,233.65.
The BSE Mid Cap is trading lower by 138.05 points at 5,049.16 and Small cap is trading down by 126.88 points at 5,698.07.
Losers from the BSE Sensex Pack are Reliance Infra plunged 8.31% to Rs. 1184.80 along with Housing Development Finance Co by 7.63% to Rs. 2,388.80, ICICI Bank Limited 7.62% to Rs. 696.60, Tata Steel Limited by 6.67% to Rs. 409.05, HDFC Bank by 6.24% to Rs. 1,421.75, State Bank of India Limited 6.06% to Rs. 1,701.00, Reliance Communication Limited 5.30% to Rs. 276.90, Jaiprakas Associates Limited by 5.08% to Rs. 203.50 and Hindalco Ind slipped 5.01% to Rs. 79.55 among others.
Lone gainer from BSE Sensex was ITC Limited that gained by 2.66% to Rs. 196.90.
The BSE Bankex is lower by 521.85 points or 6.17% at 7,937.85. Stocks trading in red are IDBI Bank Limited fell 8.33% to Rs. 102.95, ICICI Bank Limited 7.62% to Rs. 696.60, Axis Bank 6.29% to Rs. 817.00, HDFC Bank by 6.24% to Rs. 1,421.75 and State Bank of India Limited 6.06% to Rs. 1,701.00 among others.
Glodyne Technoserve Limited fell 2.61% to Rs. 485.95, on profit taking after the stock surged around 24% in the preceding six trading sessions.
SpiceJet Limited gained 0.51% to Rs. 19.55 on reports its major investors have asked to look for acquisition opportunities in the local market.
Hindustan Dorr-Oliver Limited advanced 1.99% to Rs. 97.40 after the company bagged an order worth Rs. 60.30 crore.
Prakash Industries Limited fell 1.39% to Rs. 113.30 despite report the company will raise $100 million through issuing foreign currency convertible bonds to fund its proposed 625 megawatt thermal power project at Chhattisgarh.
DLF Limited plunged 5.04% to Rs. 320.00 despite reports the company has raised Rs. 1,000 crore through sale of land parcels across four cities in the past 4-5 weeks.
Housing Development and Infrastructure Limited fell 2.02% to Rs. 235.05 despite reports a clutch of foreign and domestic institutional investors acquired stakes in the company through a recently completed qualified institutional placement.
Ashok Leyland Limited plunged 5.17% to Rs. 30.25, after total sales declined 44.41% to 3,971 units in June 2009 over June 2008.
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