Monday, August 10, 2009

Indian Stock Market Commentary Headline : Mid Session Market

The markets are witnessing a lot of volatility today and continued to remain under pressure as traders chosse to book profits. Further, huge selling by the FII’s also turned down the sentiments. The selling pressure witnessed among the Auto, FMCG, Capital Goods and Banking stocks. However, significant amount of buying witnessed among the IT, Pharma and Consumer Durables stocks. The broader market indices also remained under pressure as the BSE Mid Cap is now trading with a cut of around 0.5% and the Small Index with a loss of nearly 1% each. The BSE Sensex is now trading below the 15100 mark and the NSE Nifty below the 4500 mark.

TCS reported the top gainer from the BSE Sensex pack, as it is trading higher by (5.14%) at Rs.534.35 While Mahindra & Mahindra reported the top loser from the BSE Sensex pack, as it is trading down by (6.23%) at Rs.782.15.

The overall market breadth is negative as 926 stocks are advancing while 1478 stocks are declining and the 72 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,062.77 down by 97.47 points and the NSE Nifty was at 4,457.25 down by 24.15 points.

The BSE Mid cap is trading lower by 25 points at 5,408.25 and the BSE small Cap fell by 60.34 points to trade at 6,133.42.

BSE Realty index fell marginally by 5.43 points to 3,671.52 as Phoenix Mill (7.34%), Anant Raj Industries (5.28%), Sobha Developers (2.71%), Mahindra Life (1.56%), Ansal Infra (1.06%) and India Bull Real (0.50%) are trading lower.

BSE Capital Goods index dropped by 131.53 points to 12,025.49. The main losers are Praj Industries (3.08%), Siemens (2.20%), Lakshmi Machine Works (2.07%), Eleceon Eng. (1.86%) and Bharat Bijli (1.85%).

BSE Bankex index is trading lower by 57.58 points at 8,052.80. The main losers are Allahabad Bank (3.09%), Oriental Bank (2.76%), Union Bank (1.58%), HDFC Bank (1.22%), Bank of India (1.61%), SBI (1.08%) and Bank of Baroda (1.07%).

BSE Oil & Gas index down by 8.96 points to 9,549.62 as BPCL (2.69%), HPCL (2.18%) and Indian Oil (0.16%) are trading in negative. However, ONGC (1.39%), Aban offshore (1.17%), Essar Oil (0.54%) and Cairn India (0.40%) are trading in positive.

BSE Auto index is trading lower by 202.36 points at 5,254.73. The major losers are Mahindra & Mahindra (6.14%), Bajaj Auto (5.55%), Hero Honda (3.70%), Maruti Suzuki (2.89%), and Tata Motors (2.05%).

BSE Metal index grew by 26.35 points to 12,168.06 as Sesa Goa (3.67%), Hindalco Industries (1.88%), Sterlite Industries (1.23%), SAIL (0.72%), Tata Steel (0.67%) and Jindal Steel (0.09%) are trading higher.

BSE IT index increased by 98.19 points to trade at 4,017.31 as TCS (5.20%), Patni Computer (4.80%), Wipro (2.88%), Tech Mahindra (2.78%), Infosys Technologies (2.21%) and Oracle Fin (1.46%) are trading in green.

BSE Power index declined by 14.67 points to 2,833.48 as Suzlon Energy (1.78%), Reliance Power (0.90%), Power Grid (0.40%) and NTPC(0.33%) are trading lower.

On the global markets front, the Asian markets are trading mixed as the Hang Seng, Nikkei 225 and Seoul Composite index are trading up by (2.15%), (1.08%) and (0.01%) respectively. While, Shanghai Composite is trading down by (1.27%).

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