Markets Lost Further Ground. Sep 23, 2008

The markets have lost further ground and are witnessing huge selling pressure as sell off continues among the Realty, IT, Banking, Consumer Durables, Capital Goods and Auto stocks. However, some amount of buying is seen among the Oil & Gas stocks. Further the weak European markets also led the markets to shed more points. The BSE Mid Cap and the BSE Small Cap are also reeling under pressure as they are trading with a cut of more than 1% each.

The BSE Sensex has slipped below the 13700 mark and the NSE Nifty is hovering around the 4100 mark.

The overall market breadth turns negative as 1209 stocks are advancing while 1287 stocks are declining in BSE.

Tata Steel reported the top gainer from the BSE Sensex pack. It is trading higher by (3.26%) at Rs.495.25 while Satyam Computer the top loser down by (4.39%) at Rs.353.85.

At 2.31PM BSE Sensex is at 13,657.23 down by 337.73 points and Nifty is at 4,153.70 down by 69.35 points.

The BSE Mid Cap is lower by 84.27 points at 5,136.99 and the BSE Small Cap slipped by 73.34 points to 6,120.77.

The BSE Oil & Gas index is the one of the top gainer today trading with a gain of 41.65 points at 9,440.30. The main gainers are Cairn India up by (2.29%) at Rs.225.45, Essar Oil increased by (1.47%) at Rs.182.90 followed by BPCL and ONGC declined by (0.71%) and (0.49%) to Rs.339.50 and Rs.1,062.80 respectively.

The most active shares on NSE are Reliance Industries trading at Rs.2,041.15 with a total traded quantity of 3710782 shares followed by Reliance Capital trading at Rs.1,225.30 with a total traded quantity of 3224806 shares.

BPCL is trading higher by (0.68%) at Rs.339.85. The company plans to invest around Rs1,500 crore over the next 2 to 3 years for its 24 oil exploration blocks in India and overseas. The company is also diversifying its activities to include non-conventional sources of energy like bio-diesel, solar energy and wind mills

Markets Lost Further Ground. - Sep 11, 2008

The markets are not showing any signs of recovery and are trading lower as the heavyweights got hammered today like the Reliance Industries, ICICI Bank, SBI and ONGC. Among the sectorial indices, Oil & Gas, Power, Realty, Banking and Capital Goods are facing the most selling pressure. The BSE Sensex is now trading around the 14300 mark and the NSE Nifty below the 4300 mark. The broader markets are also trading with a cut of more than 1%.

Among the global markets, the Asian markets have closed in red and the European markets are trading lower.

The overall market breadth is negative as 761 stocks are advancing while 1775 stocks are declining in BSE.

Tata Motors reported the top gainer from the BSE Sensex pack. It is trading higher by (1.21%) at Rs.423.60 while ONGC the top loser down by (3.85%) at Rs.1,035.10.

At 2.31PM BSE Sensex is at 14,302.85 down by 359.76 points and Nifty is at 4,282.75 down by 117.50 points.

The BSE Mid Cap is lower by 64.72 points at 5,644.21 and the BSE Small Cap slipped by 70.94 points to 6,832.48.

The BSE Oil & Gas index is the one of the top loser today trading with a loss of 298.36 points at 9,369.02. The main losers are ONGC down by (3.86%) at Rs.1,035, ABN Offshore decreased by (2.22%) at Rs.2,300.10 followed by RPL and HPCL declined by (1.89%) and (1.14%) to Rs.155.60 and Rs.239.50 respectively.

The most active shares on NSE are Reliance Industries trading at Rs.2,004 with a total traded quantity of 3592825 shares followed by ICICI Bank trading at Rs.678.20 with a total traded quantity of 4740850 shares