Webinfosys's Stock Market News : Pre Session Market

Indian market is likely to have flat opening as the Asian Market are trading mixed. On Monday, the BSE Sensex closed lower by 385.45 points at 19,590.78 and Nifty fell 85.1 points to close at 5,847.30. We expect the market remain range bound during the trading session.

Monday, the US markets closed lower as the Dow Jones Industrial Average (DJIA) dropped by 51.70 points to close at 13,543.40along with NASDAQ Composite and S&P 500 closed lower by 15.20 points and 7.48 points at 2,795.18 and 1,502.17 respectively.

Indian ADRs ended in negative territory. In banking sector, ICICI bank & HDFC bank dropped by (3.86%) and (3.50%) respectively. In technology sector, Satyam fell by (4.43%) along with Infosys by (3.56%) and Wipro by (1.71%). In telecommunication sector, MTNL and VSNL slipped by (2.97%) and (2.24%).

The major stock markets in Asia are trading mixed. Japan''s Nikkei is trading higher by 85.01 points at 16,353.93. Hang Seng is trading down by 358.24 points at 28,584.08. Taiwan weighted is up by 15.27 points at 9,323.87 and Seoul Composite is trading higher by 14.16 points at 2,029.92.

Yesterday, FIIs performed mixed activity as the gross equity purchased was Rs.3,322.70 (in crores), and the gross debt purchased was Rs.175.40 (in crores) as against the gross equity sold was Rs.4,084.10 (in crores) and the gross debt sold was Rs.119.50 (in crores). The net investment of equity was -Rs.761.40 (in crores) and the net debt investment was Rs.55.90 (in crores).

Today, Nifty has support at 5,752 and resistance at 5,937 and BSE Sensex has support at 19,305 and resistance at 19,910.

Back To Index Page

Webinfosys's Stock Market News : Post Session Market

The market closed the session on a deep red note on the back of weak Asian markets as well as statement by the Citigroup that it may suffer $11 billion in writing down of losses caused due to subprime. This led to the prevailing of selling pressure across the sectoral indices scrips. The Benchmark index Sensex fell 385.45 points to close at 19,590.78 while Nifty slipped by 85.1 points to close at 5,847.30. The BSE Sensex touched an intraday low of 19,502.45 and high of 20,009.35 during the trading session. Though the Sensex opened on a positive note but all of a sudden lost the grip to trade in red throughout the trading session. The selling pressure again ignites on the later half of the day as the investors tries to sell off their stocks to clear off their positions. BSE Capital goods, Bankex, Metal and Oil & Gas was the most hit as they fall with heavy points. Overall, the market breadth was little strong as 1433 stocks are closed in green while 1321 stocks are closed in red. The BSE Mid Cap and Small Cap closed higher by 54.01 points and 104.59 points at 8,057.81 and 9,847.02 respectively.

The oil and gas index closed lower by 230.89 points at 11,505.54. Pushing it down are ONGC (4.91%), IOCL (2.26%), Reliance industries (1.81%) and CAIRN India (0.96%) closed in red.

The capital goods index fell 334.13 points to close at 20,052.28 as L&T (3.89%), ABB (2.17%), Siemens (2.07%), BHEL (1.91%) and Suzlon energy (1.87%) closed in red.

BSE Metal index slipped by 291.97 points to close at 17,401.69. Leading the losers pack are Jindal saw (4.63%), Sterlite industries (3.46%), Hindalco (2.08%), Tata Steel (1.65%) and SAIL (1.63%).

BSE bankex index decreased by 233.58 points to close at 11,007.95 as ICICI bank (4.49%), Canara bank (3.70%), Kotak bank (2.72%), Union bank (1.28%) and SBI (0.51%) closed lower.

The IT index dropped by 67.51 points to close at 4,567.13. Pushing it lower are Patni computers (2.79%), Infosys (2.72%), Wipro (1.44%) and TCS (0.94%) closed in negative.

Back To Index Page

Webinfosys's Stock Market News : Mid Market Session

The market is slipping in the red territory amidst selling pressures. Banking and Energy stocks have felt the heat of selling pressures as these stocks had picked up well in the closing days of last week. IT is still the laggard and Capital goods has kept the momentum going. The market is now highly volatile as fresh buying is negligible as investors are oriented towards profit booking. The Mid cap and small cap stocks are the favourites to be picked now as these indices are up by 123.78 points and 188.71 points at 8,145.58 and 9,931.14 respectively.

The overall market breadth looks positive as 1596 stocks are advancing while 1036 stocks are declining on BSE.

At 12.32 pm, BSE Sensex is low by 85.91 points at 19,890.32, while Nifty remained flat with a marginal gain of 3.75 points at 5936.15.

BSE Metal index is up by 146.15 points at 17,839.81. Jindal Steel, Sesa Goa, and and JSW SL are up by 3.07%, 1.29% and 1.84% at Rs. 13,050, Rs. 3,700 and Rs. 941 respectively.

BSE Realty is up by 94.78 points at 10,422.68. HDFC, Parsvnath, and Unitech Ltd are moving high by 3.80% at Rs. 706.90, 2.17% at Rs. 333.70 and 1.07% at Rs. 381 respectively. HDFC has entered into a JV agreement with ERGO International AG to set up a general insurance business.

BSE CG is moving up by 97.92 points at 20,484.33. Lakshmi MA, Praj Industries and Punj Loyd are up by 7.67%, 4.37% and 6.74% at Rs. 3,555, Rs. 202.80 and Rs. 532 respectively.

BSE Bankex has regained after early loss by 27.24 points at 11,268.77. ICICI bank and HDFC bank are facing selling pressures as they fell by 1.86% at Rs. 1,305.90 and 1.81% at Rs. 1,727 respectively. However Axis Bank, Punjab National Bank and Bank of Baroda are moving high by 7.50%, 4.58% and 4.64% at Rs. 998.90, Rs. 566 and Rs. 390.15 respectively.

Back To Index Page