Friday, August 14, 2009

Mid Session Indian stock Market Commentary...

The stock markets are witnessing a volatile session today with negative bias as profit booking continued after a sharp rally in the previous session. Further the mixed Asian markets also led to a choppy session. The FMCG, IT, Tech and Banking stocks remained in pressure today. However, some buying among the Oil & Gas, Consumer Durables, PSU and Metal stocks have provided some support to the markets. The broader market indices are however trading flat as the BSE Mid Cap is trading near the unchanged mark while the BSE Small Cap is now trading higher. The BSE Sensex is now trading below the 15450 mark and the NSE Nifty below the 4600 mark.

ONGC reported the top gainer from the BSE Sensex pack, as it is trading higher by (4.77%) at Rs.1,220 while ITC reported the top loser trading down by (2.70%) at Rs.232.50.

The overall market breadth is positive as 1330 stocks are advancing while 1069 stocks are declining and the 70 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,420.04 down by 98.45 points and the NSE Nifty was at 4,572.90 down by 32.10 points.

The BSE Mid cap is trading flat at 5,680.73 and the BSE small Cap grew by 35.32 points to trade at 6,422.37.

Sterlite Industries is trading higher by (1.31%) at Rs. 667.60 amid reports that the government is planning to sell its 49% stake in Bharat Aluminium Company (Balco) to Sterlite Industries at around Rs.2000 crore. Sterlite Industries had earlier bought 51% stake in Balco in 2001.

HDFC, the country’s largest home loan financer has reduced the interest rate by 50 basis points on loan amount ranging between Rs.30-50 lakh. After this cut, the new rate will carry 9% per annum down from 9.5% earlier. However, the stock is now trading down by (2.16%) at Rs. 2,312.

BSE REALTY index was at 3,989.29 down by (41.97) points or by (1.04%) The main gainers were Anant Raj In up by (5.17%) at Rs.136.25, Orbitco up by (3.77%) at Rs.191.5, Omaxe Ltd up by (3%) at Rs.105.1, Penland Ltd up by (2.86%) at Rs.79.7, Ansal Infras up by (2.5%) at Rs.64.25.

BSE METAL index was at 12,787.82 up by 8.10 points or by (0.06%) The main gainers were Gujara Nre C up by (2.3%) at Rs.55.15, Jindal Saw up by (2.08%) at Rs.577.7, Welsp Guj Sr up by (1.58%) at Rs.217.5, Nmdc Ltd up by (1.4%) at Rs.367, Hind.Zinc up by (1.33%) at Rs.731.15.

BSE BANKEX index was at 8,243.73 down by (110.35) points or by (1.32%) The main gainers were Indus Ind Bk up by (3.11%) at Rs.96, Oriental Bk up by (2.17%) at Rs.167, Punjab Natbk up by (2.14%) at Rs.687, Kotak Bank up by (2.02%) at Rs.739, Icici Bank L up by (1.92%) at Rs.742.4.

BSE CG index was at 12,337.86 down by (79.89) points or by (0.64%) The main gainers were Everest Kant up by (4.85%) at Rs.193.5, Havellsindia up by (2.52%) at Rs.291, Elecon Eng C up by (2.15%) at Rs.80.75, Praj Industries Ltd. up by (2.13%) at Rs.91.2, Reliance Industrial Infrastruc up by (1.55%) at Rs.993.4.

BSE FMCG index was at 2,538.00 down by (47.28) points or by (1.83%) The main gainers were Tata Tea Ltd up by (3.65%) at Rs.936.4, I T C Ltd up by (3.01%) at Rs.231.75, Britania In up by (2.59%) at Rs.1718.95, Hind Uni Lt up by (2.16%) at Rs.257.6, Godrej Cons up by (1.79%) at Rs.224.75.

BSE AUTO index was at 5,582.50 down by (45.32) points or by (0.81%) The main gainers were Apollo Tyre. up by (3.63%) at Rs.41.35, Herohonda up by (2.09%) at Rs.1475.9, Tata Motors up by (1.38%) at Rs.466.8, Marutisuzuki up by (1.28%) at Rs.1356, Bharat Forge up by (0.99%) at Rs.231.

BSE CD index was at 3,114.01 up by 46.58 points or by (1.52%) The main gainers were Gitanjali Ge up by (4.52%) at Rs.113.3, Videocon Ind up by (2.27%) at Rs.205, Rajesh Expot up by (2.19%) at Rs.44.3, Titan Ind. up by (1.7%) at Rs.1215, Blue Star L up by (0.16%) at Rs.344.6.

BSE PSU index was at 8,331.28 up by 43.44 points or by (0.52%) The main gainers were St Trad Corp up by (4.39%) at Rs.323.35, Ong Corp Ltd up by (4.32%) at Rs.1214.7, Gail India up by (3.47%) at Rs.343, Hind.Copper up by (3.47%) at Rs.243, Hindustan Petroleum Corp. Ltd. up by (2.4%) at Rs.362.5.

BSE POWER index was at 2,903.55 down by (13.29) points or by (0.46%) The main gainers were Tornt Power up by (2.51%) at Rs.245, Gmr Infrastr up by (2.11%) at Rs.134.5, Lanco Infra up by (1.56%) at Rs.440.6, Ntpc Ltd up by (1.21%) at Rs.208.75, Rel Infra up by (1.16%) at Rs.1181.6.

BSE HC index was at 3,888.96 down by (32.17) points or by (0.82%) The main gainers were Sunpha Adv up by (3.93%) at Rs.72.05, Sun Pharmaceuticals Ltd. up by (1.86%) at Rs.1220, Wockhardt Lt up by (1.84%) at Rs.160, Lupin Ltd up by (1.69%) at Rs.994, Opto Circuit up by (1.37%) at Rs.179.5.

BSE OIL&GAS index was at 9,828.95 up by 127.34 points or by (1.31%) The main gainers were ONGC Ltd up by (4.32%) at Rs.1214.7, Gail India up by (3.47%) at Rs.343, Hindustan Petroleum Corp. Ltd. up by (2.4%) at Rs.362.5, RNRL up by (2.29%) at Rs.82.7, Indian Oil C up by (2.17%) at Rs.562.

BSE IT index was at 3,957.83 down by (66.76) points or by (1.66%) The main gainers were Hcl Techno up by (4.65%) at Rs.268.9, Aptech Ltd up by (3.93%) at Rs.217, NIIT Ltd up by (3.57%) at Rs.68.25, Rolta Ind up by (2.67%) at Rs.163.3, Wipro Ltd. up by (2.33%) at Rs.503.5.

On the global markets front, the Asian markets are trading mixed as the Nikkei 225 and Seoul Composite index are trading up by (0.76%) and (1.71%) respectively. However, Hang Seng, Shanghai Composite and Straits Times index are trading down by (0.71%), (2.43%) and (0.08%) respectively.

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