Market Is Trading Weak.

The market is still trading weak and has lost further grounds on account of selling pressure continued in the selective index pivotal. The broader market has outperformed the benchmark index from the opening bell. The
The overall market breadth is positive, as 1675 stocks are advancing whereas 977 stocks that are declining.

Tata Steel reported the top gainer from the BSE Sensex pack. It is trading higher by (2.89%) at Rs.652.10 while Bharti Airtel the top loser down by (4.12%) at Rs.800.

At 2.31PM BSE Sensex is at 16,124.17 down by 93.32 points and Nifty is at 4,844.50 down by 33 points.

The BSE Mid Cap is higher by 79.46 points to 6,253.95 and the Small Cap advanced by 118.84 points to 7,403.48.

The BSE Bank index is the top loser today. It is trading with a loss of 85.02 points at 8,286.32. The main losers are Canara Bank down by (2.42%) at Rs.223.40,ICICI Bank decreased by (3.41%) at Rs.849.95 followed by Bank of Baroda and Union Bank slipped by (1.77%) and (1.59%) to Rs.294 and Rs.151.30 respectively.

The most active shares on NSE are Reliance Capital trading at Rs.1,279.15 with a total traded quantity of 3452393 shares followed by Reliance trading at Rs.2281.55 with a total traded quantity of 1508128 shares.

Maruti Suzuki is trading higher by (0.12%) to Rs.845. The company has launched its new sedan Swift DZire, making it the seventh model to be launched by the company in the last three years. This model is launched as a replacement of the earlier mid size sedan Maruti Esteem.

Market Opens On A Weak Note

The market today opens a negative note backed by heavy selling across the counters. The significant selling pressure witnessed in the broader market today as the cues from the global markets are not in favor. The heavy selling is seen from the capital goods, bankex, realty and metal space. The overall market breadth is negative as 1867 stocks are declining whereas 161 stocks are advancing on BSE.

The market will remain closed from 11:45 IST to 12:25 IST due to sun outage. Trading time has been extended till 16:15 IST. The changes in timings will be applicable from today to 18 March 2008.

At 10.32AM, the BSE Sensex is trading lower by 559 points at 15,983 and the Nifty is down by 151.3 points to 4,770.10.The BSE Mid Cap decreased by 312.20 points to 6,801.98 and the BSE Small Cap slipped by 349.68 points to 8,460.11.

Reliance Energy reported the top loser from the BSE Sensex pack. It was down by (7.98%) at Rs.1343.

ICICI Bank is trading lower by (5.73%) at Rs.905. The bank has announced a mark to market hit of Rs.263 million in its loans and investment exposure due to the US subprime crisis. The bank lost money due to depreciation in the value of securities it bought in the international markets.

BSE Capital goods index dropped by 515.46 points to trade at 14,172.94. Pulling it are Kalpataru Power trading lower by 9.70% to trade at Rs981 in line with Areva by 7.53% at Rs1720, Crompton Greaves by 6.05% at Rs281.95, Lakshmi Machines by 5.49% at Rs1780, Praj Industries by 4.52% at Rs150, Suzlon Energy by 4.48% at Rs227 and BHEL by 2.38% at Rs2031.90.

The bankex index is trading down by 493.08 points at 8,422.95 as Yes bank is trading lower by 7.33% at Rs188.35 along with Union bank by 7.26% at Rs141.80, ICICI bank by 6.82% at Rs894.90, Axis bank by 6.36% at Rs842.05, BOB by 6.84% at Rs290.25.

Market Opens Weak.

The market today opens in deep red on the back of sharp negative cues from the global markets. The heavy selling emerged across the board in the morning trade. The Capital Goods, Bank, Metal and Oil & Gas stocks are in huge pressure from the opening bell. However, the auto stocks are managed to trade marginally higher. The overall market breadth is negative as 418 stocks are advancing whereas 1,484 stocks are declining on BSE.

At 10.32AM, the BSE Sensex was down by 432.01 points at 17,146.71 and the Nifty was down by 137.25 points to 5,086.25.The BSE Mid Cap decreased by 146.79 points to 7,533.60 and the BSE Small Cap slipped by 180.35 points to 9,447.78.

ITC reported the top gainer from the BSE Sensex pack. It was up by (1.76%) at Rs.205.55 while Wipro reported the top loser declined by (2.12%) at Rs.437.

BSE Bank index dropped by 370.78 points to trade at 9,742.95. The top losers are SBI declined by (5.30%) to Rs.2,000, PNB decreased by (4.64%) at Rs.575 followed by ICICI Bank and HDFC Bank down by (4.22%) and (3.02%) to Rs.1,043 and Rs.1,413 respectively.

BSE Capital Goods index slipped by 439.23 points to trade at 15,680.29. The major losers are ABB, BHEL, Siemens and L&T fell by (4.50%), (4.02%), (3.06%) and (2.81%) to Rs.1,103, Rs.2,195, Rs.792 and Rs.3,422 respectively.

SAIL advanced by (1.19%) to Rs.256. The company is planning to expand its capacity in an attempt to keep pace with rising demand and global competition. The company will raise its production of hot metal to 26.2mn tonnes per annum by 2010-11 from the current capacity of 14.6mn tonnes. The total estimated cost will be Rs.540bn.

Market Opens Weak.

The market today opens weak on the back of negative cues from the global markets. However the broader market is trading higher in the opening trade. The significant selling in scrips witnessed in the Metal, Bank and Oil & Gas stocks. The market is trading cautiously ahead of the budget today.The overall market breadth is positive as 1073 stocks are advancing whereas 801 stocks are declining on BSE.

At 10.32AM, the BSE Sensex was down by 77.47 points at 17,747.01 and the Nifty was down by 27.55 points to 5,257.55.The BSE Mid Cap increased by 34.85 points to 7,746.61 and the BSE Small Cap advanced by 36.61 points to 9,704.74.

ITC reported the top gainer from the BSE Sensex pack. It was up by (1.76%) at Rs.205.55 while Wipro reported the top loser declined by (2.12%) at Rs.437.

BSE Bank index dropped by 115.77 points to trade at 9,958.14. The top losers are ICICI Bank declined by (2.26%) to Rs.1,081, SBI decreased by (0.78%) at Rs.2,023 followed by HDFC Bank and PNB down by (0.75%) and (0.52%) to Rs.1,462 and Rs.572 respectively.

BSE Metal index slipped by 98.26 points to trade at 16,873.75. The major losers are JSW Steel, Hindalco Industries, Jindal Stainless and Tata Steel fell by (2.57%), (1.79%), (1.51%) and (1%) to Rs.1,052.10, Rs.200.20, Rs.160 and Rs.815.45 respectively.

SAIL advanced by (1.19%) to Rs.256. The company is planning to expand its capacity in an attempt to keep pace with rising demand and global competition. The company will raise its production of hot metal to 26.2mn tonnes per annum by 2010-11 from the current capacity of 14.6mn tonnes. The total estimated cost will be Rs.540bn.