Monday, July 27, 2009

Markets Are Still Trading Lower - July 27, 2009

The markets are still trading lower and are struggling to return to the positive territory as significant selling witnessed among the frontline indices. However, the broader market indices are attracting significant attention today as both the BSE Mid Cap and Small cap indices are now trading with a gain of more than 1% each.

The FMCG, Realty, Power and Metal stocks are witnessing significant buying interest today. While selling pressure continued among the Oil & Gas, Auto and Banking stocks.

The overall market breadth is positive as 1564 stocks are advancing while 1008 stocks are declining in BSE.

HUL reported the top gainer from the BSE Sensex pack, as it is trading up by (7.80%) at Rs. 304.10 while Reliance Industries reported the top loser trading down by (4.46%) at Rs. 1,923.90.

The BSE Sensex is trading down by 22.47 points at 15,356.49 and the NSE Nifty is trading lower by 3.90 points at 4,564.65.

The BSE Mid Cap increased by 73.42 points to 5,455.23 and the BSE Small Cap grew by 72.71 points to 6,122.91.

The FMCG index is trading with gains of 102.75 points or 3.98% at 2,682.40. Gainers from this pack are Ruchi Soya trading up by 8.86% at Rs. 49.15 along with Godrej Cons by 8% at Rs. 224.05, HUL by 7.05% at Rs. 302, ITC by 4.08% at Rs. 241.05, Colgate Palmolive by 3.64% at Rs. 674 and Nestle by 3.50% at Rs. 2165.20.

The Oil and Gas index is trading with deep cut of more than 312.19 points or 3.25% at 9,283.06. Losers from this pack are RPL trading lower by 4.06% at Rs. 120.50 followed by Reliance Inds by 4% at Rs. 1933.50, Gail India by 3.61% at Rs. 339.50, Aban Offshore by 1.13% at Rs. 984 and HPCL by 1.05% at Rs. 324.

The most active shares on NSE are Suzlon Energy trading at Rs. 105.75 with a total traded quantity of 43363344 shares followed by Unitech trading at Rs. 87.90 with a total traded quantity of 38349155 shares.

Bank of India is trading lower by 4.39% at Rs. 332.50. The bank has posted a net profit of Rs 5843.20 million for the quarter ended June 30, 2009 as compared to Rs 5619.50 million for the quarter ended June 30, 2008.

Total Income has increased from Rs 41147.40 million for the quarter ended June 30, 2008 to Rs 50236.10 million for the quarter ended June 30, 2009.

HCL Technologies Limited (HCL), is trading up by 2.35% at Rs. 239.90. The company a leading global IT services provider, today announced its strategic alliance with eBaoTech Corporation, a leading provider of new generation software and services for life and general insurance industry.

The partnership reiterates HCL''''s commitment to provide Business Aligned IT, thereby providing its customers the most optimal platform aligned to their business goals.

On the global markets front, the European markets are now trading higher as the FTSE 100, DAX and CAC index are trading up by (0.01%), (0.65%) and (0.62%) respectively.

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