Friday, August 7, 2009

Indian Stock Market Commentary Headline : Mid Session Indian Stock Market

The Stock markets are witnessing a lot of volatility today and remained under pressure as profit booking continued across the sectorial indices. Further the weak cues across the Asian markets also turned down the sentiments today. The selling pressure witnessed among the Auto, Realty, Banking, FMCG and Power stocks. The broader market indices are also witnessing the selling heat as both the BSE Mid Cap and the Small Index are now trading with a loss of more than 1% each. The BSE Sensex is now trading below the 15350 mark and the NSE Nifty below the 4550 mark.

Wipro reported the top gainer from the BSE Sensex pack, as it is trading higher by (0.95%) at Rs.503. While Mahindra & Mahindra reported the top loser from the BSE Sensex pack, as it is trading down by (6.42%) at Rs.825.25.

The overall market breadth is negative as 818 stocks are advancing while 1628 stocks are declining and the 67 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,305.40 down by 208.63 points and the NSE Nifty was at 4,521 down by 64.50 points.

The BSE Mid cap is trading lower by 75.97 points at 5,483.29 and the BSE small Cap fell by 70.37 points to trade at 6,244.42.

BSE Realty index fell by 36.66 points to 3,765.54 as Anant Raj Industries (5.95%), Parsavnath (3.87%), Ansal Infra (3.05%), Phoenix Mill (2.23%), Mahindra Life (2.07%) and Akruti City (1.75%) are trading lower.

BSE Capital Goods index dropped by 151.10 points to 12,303.27. The main losers are Jyoti Structure (3.08%), Gammon India (2.34%), Praj Industries (2.87%), SKF India (2.61%), Bharat Bijli (1.53%) and Siemens (1.52%).

BSE Bankex index is trading lower by 130.73 points at 8,226.65. The main losers are IDBI Bank (3.56%), SBI (2.46%), Kotak Bank (2.25%), AXIS Bank (2.15%), Bank of Baroda (1.93%), Yes Bank (1.71%) and ICICI Bank (1.55%).

BSE Oil & Gas index down by 21.13 points to 9,708.62 as Essar Oil (3.14%), Aban Offshore (2.87%), RNRL (1.36%), HPCL (1.02%), Indian Oil (0.61%), Cairn India (0.60%) and BPCL (0.62%) are trading in negative.

BSE Auto index is trading lower by 204.68 points at 5,472.27. The major losers are Mahindra & Mahindra (6.34%), Bajaj Auto (5.55%), Maruti Suzuki (4.03%), Ashok Leyland (3.56%), Tata Motors (3.32%) and Hero Honda (2.79%).

BSE Metal index fell by 82.19 points to 12,322.87 as Jai Corp (3.22%), Gujarat NRE (2.78%), Welspun Gujarat Stahl (2.38%), NALCO (2.45%), Hindalco Industries (2.12%), Jindal Steel (2.03%) and Sterlite Industries (1.92%) are trading lower.

BSE IT index decreased marginally by 4.74 points to trade at 3,945.34 as Tech Mahindra (4.81%), NIIT Ltd. (3.50%), Rolta Ind (2.59%), TCS Ltd. (0.74%) and Infosys Technologies (0.42%) are trading in red.

BSE Power index declined by 36.24 points to 2,889.34 as Suzlon Energy (2.38%), Torent Power (1.52%), Reliance Power (1.42%) and Tata Power (1.15%) are trading lower.

On the global markets front, the Asian markets are trading mixed as the Hang Seng, Shanghai Composite and Straits Times index are trading down by (1.45%), (2.51%) and (1.35%) respectively. While, Nikkei 225 and Seoul Composite index are trading up by (0.23%) and (0.70%) respectively.

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