After spectacular opening, the key benchmark indices pared off its early gains and drifted towards the southward. The market could not hold its gains and therefore are trading range bound with an essence of volatility. The index pivotals gained in its early trade on firm movement in Asian stocks as improved economic indicators pointed to an easing of the US recession; and strengthening metal prices in the last couple of days. Meanwhile, Japan''s consumer confidence was better than expected in May 2009, climbing a fifth-consecutive month, government figures showed Friday, 12 June 2009.
On the sectoral front, out of 13 BSE Indices, 3 were traded in green whereas 9 were in red and one was flat. IT stocks slipped despite improved economic data in the US. Metal stocks extended gains as LMEX, a gauge of six metals traded on the London Metal Exchange leapt 4.2% overnight. Auto stocks plunged on profit taking after recent surge triggered by improved sales in the month of May 2009.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,662 stocks traded so far, 836 shares advanced while 1,761 shares declined. Nearly 65 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 46.42 points at 15,365.04 and NSE Nifty is down by 14.34 points at 4,623.35.
The BSE Mid Cap is trading lower by 21.34 points at 5,326.24 and Small cap is trading down by 47.67 points at 6,102.76.
Major gainers from the BSE Sensex pack are Sterlite Industries Ltd 3.10% to Rs. 724.00, along with Hindalco Industries Ltd spurted 2.51% to Rs. 104.05, Reliance Infra Ltd spurted 2.09% to Rs. 1,217.50, Reliance Industries Ltd 1.83%% to Rs. 2,341.95, Jaiprakash Associates Ltd by 1.74% to Rs. 218.65, Tata Steel Ltd by 1.38% to Rs. 458.50 and ITC Ltd 1.29% to Rs. 200.50 among others.
Losers from the BSE Sensex Pack are Ranbaxy Laboratories Ltd plunged 3.99% to Rs. 288.40 along with DLF Ltd 3.27% to Rs. 378.40, Mahindra & Mahindra Ltd plunged 3.07% to Rs. 790.30, Wipro Ltd 2.19% to Rs. 414.00, Reliance Communication Ltd by 2.16% to Rs. 339.50, Bharti Airtel by 2.09% to Rs. 836.70, State Bank of India Ltd by 1.90% to Rs. 1,664.00 and Maruti Suzuki Ltd 1.80% to Rs. 1,074.90 among others.
The BSE Auto is lower by 84.31 points or 1.68% at 4,934.67. Stocks trading in red are Mahindra & Mahindra Ltd plunged 3.07% to Rs. 790.30, Apollo Tyre Ltd 2.16% to Rs. 31.65, Ashok Leylnd Ltd 2.15%% to Rs. 31.90, Bajaj Auto Ltd by 2.06% to Rs. 1,019.75 and Maruti Suzuki Ltd 1.80% to Rs. 1,074.90.
Tata Tea Ltd declined 0.98% to Rs. 780.70 after consolidated net profit dipped 54.48% to Rs. 700.55 crore despite 12.14% rise in total income to Rs. 4,907.30 crore in the year ended March 2009 over the year ended March 2008
Bharat Heavy Electricals Ltd slipped 1.16% to Rs. 2,245.00 despite it has secured orders worth Rs 4015 crore from Hindalco Industries to supply power generation equipment.
McNally Bharat Engineering Company Ltd spurted 4.97% to Rs. 125.75 after the company bagged an order worth Rs. 300 crore.
Ciba India Ltd deteriorated by 12.08% to Rs. 237.95 after the company posted net loss of Rs. 11.90 crore in Q4 March 2009 as compared with net profit of Rs. 2.90 crore in Q4 March 2008
Hindustan Oil Exploration Company Ltd gained 1.66% to Rs. 134.55 after net profit jumped 122.28% to Rs 53.57 crore in the year ended March 2009 over the year ended March 2008.
ONGC Ltd gained 0.45% to Rs. 1,122.90 after Chairman R.S. Sharma said the company may have had Rs 3000 crore of losss selling natural gas at below cost last fiscal year.
Everonn Systems India Ltd fell 0.66% to Rs. 423.80 despite the net profit surged 72.9% to Rs 23.84 crore in the year ended March 2009 over the year ended March 2008.
Sesa Goa Ltd surged 11.48% to Rs. 214.15 after it acquired Goa-based V S Dempo Mining Corporation for Rs 1750 crore in an all-cash deal to boost its output of iron ore.
Engineers India Ltd galloped by 10% to Rs. 959.20 after net profit spurted 180.2% to Rs 158.82 crore in Q4 March 2009 over Q4 March 2008.
Jubilant Organosys jumped 2.68% to Rs. 174.05 after its subsidiary Jubilant Biosys forged a three-year collaboration with US-based pharmaceutical firm Endo Pharmaceuticals for research in Oncology.
On the sectoral front, out of 13 BSE Indices, 3 were traded in green whereas 9 were in red and one was flat. IT stocks slipped despite improved economic data in the US. Metal stocks extended gains as LMEX, a gauge of six metals traded on the London Metal Exchange leapt 4.2% overnight. Auto stocks plunged on profit taking after recent surge triggered by improved sales in the month of May 2009.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,662 stocks traded so far, 836 shares advanced while 1,761 shares declined. Nearly 65 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 46.42 points at 15,365.04 and NSE Nifty is down by 14.34 points at 4,623.35.
The BSE Mid Cap is trading lower by 21.34 points at 5,326.24 and Small cap is trading down by 47.67 points at 6,102.76.
Major gainers from the BSE Sensex pack are Sterlite Industries Ltd 3.10% to Rs. 724.00, along with Hindalco Industries Ltd spurted 2.51% to Rs. 104.05, Reliance Infra Ltd spurted 2.09% to Rs. 1,217.50, Reliance Industries Ltd 1.83%% to Rs. 2,341.95, Jaiprakash Associates Ltd by 1.74% to Rs. 218.65, Tata Steel Ltd by 1.38% to Rs. 458.50 and ITC Ltd 1.29% to Rs. 200.50 among others.
Losers from the BSE Sensex Pack are Ranbaxy Laboratories Ltd plunged 3.99% to Rs. 288.40 along with DLF Ltd 3.27% to Rs. 378.40, Mahindra & Mahindra Ltd plunged 3.07% to Rs. 790.30, Wipro Ltd 2.19% to Rs. 414.00, Reliance Communication Ltd by 2.16% to Rs. 339.50, Bharti Airtel by 2.09% to Rs. 836.70, State Bank of India Ltd by 1.90% to Rs. 1,664.00 and Maruti Suzuki Ltd 1.80% to Rs. 1,074.90 among others.
The BSE Auto is lower by 84.31 points or 1.68% at 4,934.67. Stocks trading in red are Mahindra & Mahindra Ltd plunged 3.07% to Rs. 790.30, Apollo Tyre Ltd 2.16% to Rs. 31.65, Ashok Leylnd Ltd 2.15%% to Rs. 31.90, Bajaj Auto Ltd by 2.06% to Rs. 1,019.75 and Maruti Suzuki Ltd 1.80% to Rs. 1,074.90.
Tata Tea Ltd declined 0.98% to Rs. 780.70 after consolidated net profit dipped 54.48% to Rs. 700.55 crore despite 12.14% rise in total income to Rs. 4,907.30 crore in the year ended March 2009 over the year ended March 2008
Bharat Heavy Electricals Ltd slipped 1.16% to Rs. 2,245.00 despite it has secured orders worth Rs 4015 crore from Hindalco Industries to supply power generation equipment.
McNally Bharat Engineering Company Ltd spurted 4.97% to Rs. 125.75 after the company bagged an order worth Rs. 300 crore.
Ciba India Ltd deteriorated by 12.08% to Rs. 237.95 after the company posted net loss of Rs. 11.90 crore in Q4 March 2009 as compared with net profit of Rs. 2.90 crore in Q4 March 2008
Hindustan Oil Exploration Company Ltd gained 1.66% to Rs. 134.55 after net profit jumped 122.28% to Rs 53.57 crore in the year ended March 2009 over the year ended March 2008.
ONGC Ltd gained 0.45% to Rs. 1,122.90 after Chairman R.S. Sharma said the company may have had Rs 3000 crore of losss selling natural gas at below cost last fiscal year.
Everonn Systems India Ltd fell 0.66% to Rs. 423.80 despite the net profit surged 72.9% to Rs 23.84 crore in the year ended March 2009 over the year ended March 2008.
Sesa Goa Ltd surged 11.48% to Rs. 214.15 after it acquired Goa-based V S Dempo Mining Corporation for Rs 1750 crore in an all-cash deal to boost its output of iron ore.
Engineers India Ltd galloped by 10% to Rs. 959.20 after net profit spurted 180.2% to Rs 158.82 crore in Q4 March 2009 over Q4 March 2008.
Jubilant Organosys jumped 2.68% to Rs. 174.05 after its subsidiary Jubilant Biosys forged a three-year collaboration with US-based pharmaceutical firm Endo Pharmaceuticals for research in Oncology.
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