Friday, August 7, 2009

Indian Stock Market lost further grounds.

The markets have lost further grounds as selling pressure continued across the board. Further the negative opening of the European markets also turned down the sentiments. All the sectorial indices are trading in red in the afternoon trade. The Auto, Consumer Durables, Realty, Banking and Power stocks remained in pressure today. The broader market indices also extended their losses as both the BSE Mid Cap and the small Cap indices are trading with a cur of more than 1.5% each.

The overall market breadth is negative as 771 stocks are advancing while 1860 stocks are declining in BSE.

Tata Steel reported the top gainer from the BSE Sensex pack, as it is trading up by (1.20%) at Rs. 460.25 while Jai Prakash Associate reported the top loser trading down by (5.18%) at Rs. 218.80.

At 2.31PM the BSE Sensex is trading lower by 259.35 points at 15,254.68 and the NSE Nifty is trading lower by 77.65 points at 4,507.85.

The BSE Mid Cap decreased by 98 points to 5,461.26 and the BSE Small Cap fell by 98.288 points to 6,221.91.

The Auto index is trading higher by 185.33 points or 3.26% at 5,491.62. Losers from this pack are Bajaj Auto trading lower by 6.34% at Rs. 1185 along with Maruti Suzuki by 4.62% at Rs. 1301, M&M by 4.10% at Rs. 845.70, Exide Inds by 3.28% at Rs. 81.05 and Apollo Tyres by 2.75% at Rs. 40.70.

The Consumer Durables index is trading down by 92.16 points or 2.94% at 3,043.92. Scrips trading with deep cut are Rajesh Exports trading down by 4.13% at Rs. 42.90 followed by Gitanjali GE by 3.97% at Rs. 110, Videocon Inds by 3.39% at Rs. 196.35 and Blue Star by 1.61% at Rs. 358.55.

The most active shares on NSE are Unitech trading at Rs. 86.90 with a total traded quantity of 48073764 shares followed by Ispat Inds trading at Rs. 22.5 with a total traded quantity of 39201143 shares.

Aurobindo Pharma Limited is trading lower by 3.21% at Rs. 584.95. The company announced that it has received the final approval for Carisoprodol Tablets USP 350mg (ANDA 40-792) from the US Food & Drug Administration (USFDA). Carisoprodol Tablets USP 350 mg is the generic equivalent to Soma® Tablets USP 350 mg of Meda Pharmaceuticals. Carisoprodol Tablets are muscle relaxants and indicated as an adjunct to rest, physical therapy, and other measures for the relief of discomfort associated with acute, painful musculoskeletal conditions.

On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (0.97%), (0.46%) and (0.89%) respectively.

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