Monday, July 13, 2009

Markets Are At A Standstill Trading Lower - July 13, 2009

The markets are witnessing a little bit of volatility today. The markets managed to recover a bit from the early lows but again slipped off from the day’s high as selling pressure emerged at higher level. However, the selling pressure continued among the Consumer Durables, Realty, Metal, Auto and Power stocks. The IT index today outperformed the benchmark index as it trading higher above 1%.

The BSE Sensex is now trading around the 13,300 mark and the NSE Nifty around the 3,950 mark.

The overall market breadth is negative as 448 stocks are advancing while 2045 stocks are declining in BSE.

Sun Pharmaceuticals reported the top gainer from the BSE Sensex pack, as it is trading up by (1.78%) at Rs. 1,140.85 while Jai Prakash Associate reported the top loser trading down by (6.31%) at Rs. 174.50.

The BSE Sensex is trading down by 173.80 points at 13,330 and the NSE Nifty is trading lower by 49.10 points at 3,954.80.

The BSE Mid Cap decreased by 160.95 points to 4,557.64 and the BSE Small Cap fell by 209.11 points to 5,025.39.

The Consumer Durables index is trading with deep cut of 163.69 points or 5.91% at 2,605.11. Losers from this pack are Rajesh Exports trading lower by 8.85% at Rs. 32.45 along with Blue Star Ltd by 7.33% at Rs. 308, Titan Inds by 6.42% at Rs. 1,090 and Videocon Inds by 5.66% at Rs. 143.45.

The Realty index is trading lower by 148.15 points or 5.21% at 2,697.51. Stock that are trading with deep cut are Ansal Infra trading down by 9.97% at Rs. 42 followed by Penland by 8.78% at Rs. 54, Phoenix Mill by 8.24% at Rs. 87.40, Sobha Developers by 7.46% at Rs. 179.80, Parsvnath by 7.13% at Rs. 72.30, Anant Raj In by 6.14% at Rs. 88.60, India Bull Real by 5.14% at Rs. 172.40 and Orbitco by 4.99% at Rs. 123.70.

The most active shares on NSE are Unitech trading at Rs. 63.65 with a total traded quantity of 67783081 shares followed by Suzlon Energy trading at Rs. 79.46 with a total traded quantity of 38417420 shares.

Sterlite Technologies Limited ("Sterlite"), a leading global provider of transmission solutions is trading lower by 4.92% at Rs. 162.25. The company announced that it has won a contract from BSNL, valued at Rs 372 Crores (US$ 77 Million}, for enabling a Fiber-to-the-Home (FTTH) Network tjased on Gigabit Passive Optical Network (GPON) technology.

Sterlite was awarded a major share of the total outlay project, amongst competition from global players. Sterlite has streamlined its efforts to ensure that the contract is executed within FY10.

On the global markets front, the European markets are now trading mixed as the FTSE 100 and DAX index are trading up by (0.16%) and (0.16%) respectively. However, CAC 40 is trading lower by (0.07%).

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