Posts filed under 'Opening trade'
The Indian Stock Markets opened weak this morning. Nifty is down 1.48% and is at 5044.4 levels. Nifty Junior is down 1.06% and is at 9637.35. CNX IT and Bank Nifty are marginally down. CNX 100 is down 1.43%, CNX Midcap is down 1.38% while Nifty Midcap 50 is down 1.63%
Sensex is at 17,285.93 down by 178.96 points and is down 1.02%. BSE Midcap and Smallcap indices are down at 1.29 and 1.78 respectively. Almost all Sensex sectoral indices except for the IT are down.
Reliance Power listed at Rs. 525 as against its listing price of Rs. 450. The script however is trading down by 2.5%. Volumes are going very strong as expected. 4.3 Lakh crores are traded in the first few hours of trade.
IT sector is looking reasonably strong today. Infosys and Satyam are up over 2%. TCS is up by 1.68% while Wipro is down 0.73%. HCL Insys, Patni and Finantech are down over 2%
February 11th, 2008
Tough days continue to haunt the Indian markets after weak global queues and no-so-positive domestic factors. BSE is down 0.63% while NSE is down 0.89%. IT is the only sectorl index on BSE to be in green and the sector, surprisingly, is up 3.05%
Realty sectoral index continues to be in deep red as the index is down over 3.41% this morning. This is followed by Consumer Durables and Metal. News from the IPOs too isn’t that encouraging. SVEC IPO is closing today. Emaar announced an extension to its IPO.
Infosys, Satyam and TCS are looking positive amongst the large cap IT space while Wipro is marginally in the green. Tech Mahindra is trading at Rs. 723 levels. Analyst firms are giving Satyam and Tech Mahindra Outperformer rating.
Banking stocks are a bit dull this morning. ICICI Bank is down 1.68% while HDFC Bank is marginally in the red. State Bank of India is down 0.66% and is trading at Rs. 2155 levels.
The NSE Nifty top gainers is having IT stocks in the front followed by Pharma stocks - Sun Pharma, Ranbaxy and Dr. Reddy. Engineering giant L&T is down 2.87% and is trading at Rs. 3634 levels on the NSE.
February 8th, 2008
The Indian stock markets continued to remain volatile on Thursday too. Nifty is up a mere 0.01% while Sensex is down 0.13%. Midcap and Smallcap stocks are getting value buying. Consumer Durables and Realty sectors are looking attractive.
Largecap gainers in the first hours of trade include ACC, RPL, National Aluminium, Grasim, Ambuja Cements, BPCL, GAIL, Cairn, Tata Steel, NTPC amongst others. Top losers include Hero Honda, HCL Tech, Bharti Airtel, VSNL, TCS, Cipla, M&M, Wipro amongst others.
Midcap gainers include Hotel Leela, Bajaj Hindustan, SCI, RNRL, Ashok Leyland, Indian Cements amongst others.
1 U.S. dollar = 39.4601847 Indian rupees
February 7th, 2008
In line with the US and the Asian trends, the Indian stock markets took a weak opening this morning. Nifty is down 2.9% while Sensex is down 3.1%. IT and Metal stocks continue to be the worst hit.
BSE Mid cap index is down 2.03% while BSE Small cap index is down 1.55%.
Infosys, Wipro and Satyam are down over 4% while TCS is down over 3%. Global Tele is up 1.93%. Amongst the banking stocks, ICICI Bank, State Bank of India, Kotak Bank are down 2% while Punjab National Bank is down 3%
Large cap stock losers in the early trading hours include Sterlite Industries, Bharti Airtel, HDFC, HCL Tech, Unitech, VSNL, Sun Pharma, Hindalco amongst others. Only Hero Honda is up marginally amongst the Nifty 50 stocks.
February 6th, 2008
Indian stock markets opened in the red after the US and Asian markets ticket red. Nifty is marginally down by 0.47%, CNX 500 down by 0.20% and CNX IT down by 1.32%. Even the Bank Nifty is down by 1.16%. Sensex is down 63.86 points or 0.34%. TCS news has hit the IT stocks
Sensex Mid cap and Small cap are marginally red. Consumer Goods, Health care and Realty are up while other BSE sectoral indices are in the red.
IT sector stocks are having a bad start this morning. The news of TCS to sack about 400 employees with less than 2 years experience has hit the market by surprise. Almost all top tier IT companies were racing each other till few months back to get fresh talent and retain existing talent.
TCS opened the day at Rs. 960.00 on the NSE, hit an intraday high of 975.00 and intraday low of Rs. 935.65 and is trading at Rs. 953.10 levels. The script is down 2.22%. Infosys is down 1.54%, Satyam is down 2.69% while Wipro is down 2.25%
On the Banking front, almost all the scripts on the Bank Nifty except the Bank of India are in the red. SBI is trading at Rs. 2246.15 levels.
February 5th, 2008
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