Sunday, May 25, 2008

Indian stock Market Commentary: Market is still weak.

The market is not showing a mood for recovery. All the key benchmark indices are trading in red. The Bank, Realty, Capital Goods and Auto are out of favor today. The BSE Mid Cap and Small Cap stocks are also trading lower. The BSE Sensex is still below the 17, 000 mark and the NSE Nifty is hovering around the 5000 mark.

The overall market breadth is negative, as 1097 stocks are advancing whereas 1549 stocks that are declining.

TCS reported the top gainer from the BSE Sensex pack. It is trading higher by (0.68%) at Rs.970.50 while Tata Motors the top loser down by (4.01%) at Rs.661.25.

At 2.31PM BSE Sensex is at 16,914.44 down by 328.72 points and Nifty is at 5,028.90 down by 88.75 points.

The BSE Mid Cap is lower by 76.13 points to 7,071.92 and the Small Cap dropped by 78.70 points to 8,710.28.

The BSE Bank is the top loser trading with a loss of 226.24 points at 8,413.66. The main losers are PNB down by (3.44%) at Rs.539, ICICI Bank decreased by (3.27%) at Rs.881.70 followed by SBI and HDFC Bank declined by (2.05%) and (1.89%) to Rs.1627.95 and Rs.1383.40.

The most active shares on NSE are Reliance trading at Rs.2634.95 with a total traded quantity of 1739730 shares followed by Reliance Capital trading at Rs.1417.10 with a total traded quantity of 3001204 shares.

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