Monday, July 13, 2009

Market Taking Place The Hold Of Stomach - July 13, 2009

Market after a weak opening, the key benchmark indices continuously trading in negative territory on the back of weak sentiments across the U.S. and Asian markets. Besides, lack of encouraging news in the domestic arena and the lingering concerns about the global economy kept the investors away from taking any fresh positions.

On a stock specific move, Gammon India is trading lower by over 10%, after the collapse of a part of an under construction Delhi Metro line which is the second accident involving the construction company.

During the last hours'' trading session, selling pressure has emerged across all the sectors except IT.

Among the BSE sectoral indices, Consumer Durable (CD), Realty and Metal stocks are the top losers with a sharp decline of 3.92%, 3.61% and 2.94% respectively while some buying interest seen across IT stocks as the index is up by 0.51%.

Overall the market breadth is negative as Out of the total 2,064 stocks traded at BSE, 1,653 declined, 368 advanced while 43 remained unchanged.

The BSE Sensex is down by 197.45 points at 13,306.77 while NSE Nifty declined by 55.54 points at 3,944.55.

Besides, the BSE Mid Cap and Small Cap are trading lower by 149.67 points and 177.93 points at 4,568.92 and 5,056.57 respectively.

Losers from the BSE Sensex Pack are Tata Power declined by (5.37%) to Rs. 1,009.10, along with Jaiprakash Associates by (4.97%) to Rs. 177, Tata Steel by (4.67%) at Rs. 336.90, Hindalco Industries by (4.10%) at Rs. 70.10, Mahindra and Mahindra Limited by (4.03%) at Rs. 666 and DLF Limited by (3.63%) at Rs. 268.50.

Losers from the NSE Nifty Pack are National Aluminium down by (7.04%) at Rs. 253.6 along with Tata power by (5.45%) at Rs. 1,005.6, Siemens Limited by (5.26%) at Rs. 389.1, Suzlon Energy by (5.23%) at Rs. 78.9, Tata Steel by (4.79%) at Rs. 336 and ABB Limited by (4.65%) at Rs. 659.95.

BSE CD is trading lower by (3.92%) or 108.50 points at 2,660.30. The top losers in the index are Rajesh Export declined by (6.04%) to Rs. 33.45 along with Blue Star Limited by (5.13%) to Rs. 315.30, Titan Industries by (4.79%) to Rs. 1,109, Videocon industries by (4.01%) to Rs. 145.95, followed by Gitanjali GE by (2.35%) at Rs. 89.40.

BSE Realty is trading lower by (3.61%) or 102.72 points at 2,742.94. The major losers are Ansal Infras down by (7.72%) at Rs. 43.05 along with Penland Limited by (7.60%) at Rs. 54.70, Mahindra Life by (6.24%) at Rs. 231.50 followed by Omaxe Limited by (6.21%) at Rs. 74.70.

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