Sunday, June 8, 2008

Indian stock Market is choppy in early trade.

The market today opened higher on the back of sharp positive cues from the global markets. But suddenly the market turned choppy and shed early morning gains. The significant buying is seen in the Consumer Durables, Metal, Realty and IT stocks. However, the FMCG and Oil stocks are trading marginally down. The BSE Mid Cap and BSE Small Cap are however trading higher in the opening trade.

The overall market breadth is positive as 1112 stocks are advancing whereas 627 stocks are declining on BSE.

At 10.30AM, the BSE Sensex was down by 29.70 points at 15,740.02 and the Nifty was down by 6.44 points to 4,670.50.

The BSE Mid Cap increased by 31.18 points to 6,431.48 and the BSE Small Cap advanced by 40.94 points to 7,776.54.

HDFC reported the top gainer from the BSE Sensex pack. It is trading with a gain of 2.20% at Rs.2445 while ONGC reported the top loser down by 1.68% at Rs.930.35.

BSE IT index advanced by 38.40 points to trade at 4,655.84. The major gainers are Satyam Computer, Infosys Technologies, HCL Technologies and TCS grew by (2.15%), (1.34%), (1.18%) and (1.08%) to Rs.523, Rs.2006, Rs.309.45 and Rs.992.50 respectively.

BSE Metal index improved by 115.91 points to trade at 15,830.50. The top gainers are Sterlite Industries inclined by (4.83%) to Rs.873.10, NALCO increased by (0.76%) at Rs.504 followed by Tata Steel up by (0.62%) to Rs.846.95.

Mahindra & Mahindra is trading higher by (1.24%) at Rs.570.05. The company is developing a small engine for a smaller version of its Uvs. The engine will have a capacity ranging between 650cc and 750cc.

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