Wednesday, August 19, 2009

Market on a selling spree

After a flat start, the key benchmark indices are continuously trading with negative sentiments on the back of mixed cues from the global market. The frontline stocks are facing resistance at upper level and witnessing profit booking pressure on a regular interval. On a stock specific move, DLF Ltd has emerged as the sole bidder for the 350.71-acre land parcel in Gurgaon put up for auction by Haryana State Corporation. With a reserve price of Rs 1,700 crore, the land deal would be the biggest since March 2008. The stock is currently trading lower by 0.24%. During the last hours’ trading session heavy selling pressure has emerged across Auto, Oil & Gas and Banking counters. Among BSE sectoral indices, Auto, Oil & Gas and Bankex is trading lower by 1.68%, 1.37% and 1.25% respectively, while a moderate buying interest seen across Consumer Durable counter. Overall the market breadth is positive as out of total 2,211 stocks traded in BSE, 1,110 advanced, 1,023 declined and 78 remained unchanged.

At 11:28:26 AM BSE SENSEX was at 14,836.92 down by 198.34 points or by (1.32%) and the NSE Nifty was at 4403.00 down by 55.9 points or by (1.25%). The BSE MIDCAP was at 5,459.27 down by 37.28 points or by (0.68%) and the BSE SMLCAP was at 6,333.85 down by 7.6 points or by (0.12%)

Losers from the BSE Sensex Pack are Hero Honda down by (3.07%) to Rs. 1,348, along with Rel Infra by (2.80%) to Rs. 1,103, Jaiprakash associate by (2.45%) to Rs. 207.15, TCS Ltd by (2.40%) at Rs. 497.50, RIL by (2.38%) at Rs. 1,900 and Tata Steel by (2.31%) at Rs. 441.

Losers from the NSE Nifty Pack are Hero Honda decreased by (2.99%) at Rs. 1,350 along with Reliance infrastructure by (2.44%) at Rs. 1,107.6, Wipro Ltd by (2.12%) at Rs. 489.8, ACC Ltd by (2.04%) at Rs. 781.55, SBI by (1.99%) at Rs. 1,699.85 and Tata Steel by (1.97%) at Rs. 442.8.

BSE AUTO index was at 5,302.56 down by 90.68 points or by (1.68%) The main losers were Bharat Forge down by (5.29%) at Rs.217.55, Cummins Indi down by (4.08%) at Rs.314.25, Herohonda M down by (3.07%) at Rs. 1,348, Mahindra & Mahindra Ltd. down by (2.06%) at Rs.752.5, Bajaj Auto down by (2.03%) at Rs.1,114.8. The main gainers were Apollo Tyre up by (1.75%) at Rs. 40.7, Bosch Ltd up by (0.93%) at Rs.3900, Exide Indus up by (0.65%) at Rs.84.75.

BSE OIL&GAS index was at 9,383.90 down by 130.41 points or by (1.37%) The main losers were Hindustan Petroleum Corp. Ltd. down by (3.08%) at Rs. 358.4, Reliance down by (2.38%) at Rs. 1,900 Essar Oil Ltd. down by (2.19%) at Rs. 131.95, Ril Nat Res down by (2.02%) at Rs. 79.9, Bharat Petroleum Corporation L down by (2%) at Rs. 508. The main gainers were Cairn Ind up by (0.19%) at Rs. 239.4.

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