Friday, March 7, 2008

Market is trading with a deep cut

The market is trading with a heavy cut from the opening bell today as strong selling continued across the board. The Metal, Capital Goods, Realty and Bank stocks are facing the huge profit booking today. The BSE Sensex has dipped down below the 16000 mark and the NSE Nifty has gone down below the 4800 mark.

The overall market breadth is negative, as 184 stocks are advancing whereas 2424 stocks that are declining.

Reliance Energy reported the top loser from the BSE Sensex pack. It is trading lower by (10.10%) at Rs.1,312 followed by Bajaj Auto trading down by (9.92%) at Rs.1,917.

At 2.31PM BSE Sensex is at 15,890.11 down by 651.97 points and Nifty is at 4,741.80 down by 179.60 points.

The BSE Mid Cap is lower by 359.63 points to 6,754.55 and the Small Cap slipped by 455.33 points to 8,354.46.

The BSE Capital Goods index is the top loser today. It is trading with a loss of 539.53 points at 14,148.87. The main losers are Siemens down by (7.29%) at Rs.674, ABB decreased by (4.85%) at Rs.1,060 followed by L&T and BHEL dropped by (3.75%) and (3.12%) to Rs.3,081 and Rs.2,015.

The most active shares on NSE are Reliance trading at Rs.2,212.20 with a total traded quantity of 2188821 shares followed by ICICI Bank trading at Rs.880.30 with a total traded quantity of 4462200 shares.

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