The benchmark Sensex is still hovering in the negative terrain on selective profit booking across IT index. After a smart rally in yesterday’s session, the domestic stock market holds back to a bit on concerns of weak monsoon rains and weak Chinese stocks on concerns that this year’ rally has overvalued the prospects for earnings growth, and these put some pressure on the investors’ sentiments. On the economic front, India has signed a trade pact with 10 nation Association of South East Asian Nations, which will eliminate tariffs on around 4,000 products such as consumer electronics, pharmaceuticals, machinery, metals and readymade garments. Moreover, the Prime Minister Manmohan Singh constituted a Group of Ministers (GoM) headed by finance minister Pranab Mukherjee, to suggest measures to control the damage caused by the failure of summer crop. On the stock specific front, ONGC is trading with decent gains of 4.88% at Rs. 1,221.20 on the back of reports that ONGC is in talks with three Russian firms about a joint bid for a stake in YPF, an Argentinean arm of Spanish oil major Repsol YPF SA. Among the sectoral indices, the BSE Consumer Durables, Oil & Gas jumped by 2.01% and 1.57% respectively. Overall the market breadth is positive as 1,33 stocks are trading in green while 895 stocks are in red.
At 11.35 AM, the BSE Sensex is trading marginally lower by 57.26 points at 15,461.23 whereas NSE Nifty is down by 11.50 points at 4,593.50. Besides, the BSE Mid Cap and Small Cap are trading higher by 12.21 points and 56.31 at 5,621.10 and 6,443.36 respectively.
Losers from the BSE Sensex Pack are HDFC lower by (1.84%) to Rs. 2,319 along with JP Associates by (1.54%) to Rs. 220.85, Infosys by (1.37%) at Rs. 2,037, Wipro by (1.23%) at Rs. 509.15, TCS by (1.14%) at Rs. 521.
Gainers from the BSE Sensex Pack are ONGC higher by (5.23%) at Rs. 1,225.35 along with Reliance Infra by (2.30%) at Rs. 1,195, Tata Steel by (1.84%) at Rs. 479.15, M&M by (1.65%) at Rs. 808 and Grasim Inds by (1.56%) at Rs. 2,716.
BSE Consumer Durables index is trading higher by (2.01%) or 61.57 points at 3,129. The major gainers are Gitanjali GE up by (4.57%) at Rs. 113.35 along with Videocon by (3.67%) at Rs. 207.80, Rajesh Exports by (3.46%) at Rs. 44.85, Titan Inds by (2.21%) at Rs. 1,221.05.
BSE IT index is trading lower by (1.11%) or 44.55 points at 3,980.04. The top losers in the index are HCL Tech down by (3.62%) to Rs.271.80 along with Infosys by (1.27%) at Rs. 2,038.90, TCS by (1.16%) to Rs. 520.90, Wipro by (1.07%) to Rs. 510 and Finance Tech by (0.49%) at Rs. 1,499.95.
At 11.35 AM, the BSE Sensex is trading marginally lower by 57.26 points at 15,461.23 whereas NSE Nifty is down by 11.50 points at 4,593.50. Besides, the BSE Mid Cap and Small Cap are trading higher by 12.21 points and 56.31 at 5,621.10 and 6,443.36 respectively.
Losers from the BSE Sensex Pack are HDFC lower by (1.84%) to Rs. 2,319 along with JP Associates by (1.54%) to Rs. 220.85, Infosys by (1.37%) at Rs. 2,037, Wipro by (1.23%) at Rs. 509.15, TCS by (1.14%) at Rs. 521.
Gainers from the BSE Sensex Pack are ONGC higher by (5.23%) at Rs. 1,225.35 along with Reliance Infra by (2.30%) at Rs. 1,195, Tata Steel by (1.84%) at Rs. 479.15, M&M by (1.65%) at Rs. 808 and Grasim Inds by (1.56%) at Rs. 2,716.
BSE Consumer Durables index is trading higher by (2.01%) or 61.57 points at 3,129. The major gainers are Gitanjali GE up by (4.57%) at Rs. 113.35 along with Videocon by (3.67%) at Rs. 207.80, Rajesh Exports by (3.46%) at Rs. 44.85, Titan Inds by (2.21%) at Rs. 1,221.05.
BSE IT index is trading lower by (1.11%) or 44.55 points at 3,980.04. The top losers in the index are HCL Tech down by (3.62%) to Rs.271.80 along with Infosys by (1.27%) at Rs. 2,038.90, TCS by (1.16%) to Rs. 520.90, Wipro by (1.07%) to Rs. 510 and Finance Tech by (0.49%) at Rs. 1,499.95.
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