Market Follows Global Cues: Trading Down - June 08, 2009

Following the global cues, the key benchmark indices turned negative after major Asian markets gave up most of their early gains on account of falling oil prices. Besides, profit booking pressure on frontline stocks, after the market soared almost 90% over the last three months also weight on sentiments and dragged the market down to its day’s low.

On a stock specific news, Divi’s Lab is trading higher by nearly 2.5% after its board approved a 1-for-1 bonus share issue and reported a 15% rise in March-quarter net profit to Rs. 1.07 bn.

During the last hours'' trading session, selling pressure has emerged across Realty, Metal and Consumer Durable (CD) stocks whereas buying interest seen across IT and TECk counters.

Among the BSE sectoral indices Realty, Metal and CD stocks dipped by 4.77%, 3.69% and 3.19% respectively, while the IT and TECk indices surged by 1.69% and 0.10% respectively.

Overall the market breadth is negative as 1754 stocks are trading in red while 697 stocks are in green.

The BSE Sensex down by 37.42 points at 15,066.12 while NSE Nifty declined by 39.24 points at 4,547.65.

Besides, the BSE Mid Cap and Small Cap are trading down by 75.62 points and 157.3 points at 5,334.15 and 6,301.35 respectively.

Losers from the BSE Sensex Pack are Sterlite Industries down by (5.53%) to Rs. 635, along with Jaiprakash Associate by (4.73%) to Rs.220.35, Tata Steel by (4.29%) at Rs. 444, DLF Limited by (3.96%) at Rs. 391.9, SBI by (3.76%) at Rs.1749.6 and Hindalco Industries by (3.23%) at Rs.89.9.

Losers from the NSE Nifty Pack are Sterlite Industries declined by (5.41%) at Rs. 635.95 along with Tata Steel by (4.42%) at Rs. 443.4, SAIL by (4.37%) at Rs. 168.35, DLF Limited by (4.20%) at Rs. 390.85, Unitech Limited by (3.99%) at Rs. 93.9 and Siemens Limited (3.86%) at Rs. 480.45.

BSE Realty is trading down by (4.77%) or 192.22 points at 3,837.52. The top losers in the index are Indiabulls Real dipped by (6.11%) to Rs. 217.35 along with Phoenix Mills by (5.71%) to Rs. 126.30, Anant Raj Industries by (5%) to Rs. 123.6 followed by Omaxe Limited by (4.99%) to Rs. 115.30.

BSE Metal is trading lower by (3.69%) or 431.55 points at 11,695.50. The major losers are Sterlite Industries declined by (5.53%) at Rs. 635 along with Jai Corp by (4.99%) at Rs. 332.35, Ispat Industries by (4.65%) at Rs. 25.65 followed by Tata Steel by (4.29%) at Rs. 444.

Market Behind Suitable Near Strong Worldwide Cues - June 04, 2009

The major Indian bourses cool off its northward march following the weak global cues and profit booking pressure after the recent series of gains. Besides lack of news in the domestic arena and concern about the U.S. economic data also weigh on sentiments. On a stock specific move, Opto Circuit is trading higher by over 2% after an announcement that company has planned to raise upto Rs. 400 crore by way of qualified institutional placement of shares.

During the last hours'' trading session, selling pressure has emerged across Metal, Oil & Gas and Realty stocks, whereas FMCG and Health Care (HC) counters are trading in green territory.

Among the BSE sectoral indices,Metal and Oil & Gas stocks dipped by 2.45% and 1.86% respectively whereas FMCG and Health Care stocks grew by 2.26% and 1.16% respectively.

Overall the market breadth is positive as 1507 stocks are trading in green while 887 stocks are in red.

The BSE Sensex is down by 194.43 points at 14,676.47 while NSE Nifty down by 54.34 points at 4,476.35. Besides, the BSE Mid Cap and Small Cap are trading higher by 20.23 points and 34.5 points at 5,345.78 and 6,419.43 respectively.

Losers from the BSE Sensex Pack are Sterlite Industries dipped by (6.74%) to Rs. 655.5, along with Hindalco Industries by (4.13%) to Rs. 89.3, Tata Steel by (3.98%) at Rs. 468.5, ONGC by (3%) at Rs. 1,133.9, ICICI Bank by (2.82%) at Rs. 699.4 and Reliance Industries by (2.39%) at Rs.2,191.25.

Losers from the NSE Nifty Pack are Sterlite Industries declined by (6.32%) at Rs. 657.95 along with Hindalco Industries by (4.45%) at Rs. 89.15, Cairn India by (4.28%) at Rs.246.2, Tata Steel by (4.09%) at Rs. 468.15, National Aluminium by (3.97%) at Rs. 341.5 and Ambuja Cements by (2.90%) at Rs. 102.1.

BSE Metal is trading lower by (2.45%) or 293.03 points at 11,658.17. The top losers in the index are Sterlite Industries declined by (6.74%) to Rs.655.5 along with Hindalco Industries by (4.13%) to Rs. 89.3, Tata Steel by (3.98%) to Rs. 468.5, National aluuminium company by (3.95%) to Rs. 342.7, SAIL by (1.69%) to Rs. 174.55, followed by Sesa Goa by (1.59%) at Rs. 163.85.

BSE Oil & Gas is trading lower by (1.86%) or 192.78 points at 10,372.11. The major losers are Cairn India dipped by (3.91%) at Rs. 247 along with ONGC by (3%) at Rs. 1,133.9, RIL by (2.39%) at Rs. 2,191.25 followed by RPL by (1.76%) at Rs. 139.35.