Market pared morning gains
Category : Market Reports
Date : Aug-23-2010 09:52
The market opened on a positive note but was soon dragged down on the back of weak Asian bourses as concerns rose over the global economy after calls by a European Central Bank official to maintain stimulus measures. Asian markets are trading in a mixed range today on growing concern about the health of the world economy after Wall Street closed lower on Friday with sentiment remained pessimistic after a series of indicators that show the world''s biggest economy is slowing. The market is turning volatile ahead of the FNO expiry later this week. On the sectorial front, considerable selling pressure was witnessed among the FMCG stocks, whereas the Consumer Durables, Auto and Power sectors are looking strong at the moment. The BSE Sensex is now trading above the 18420 mark in the early trade with the NSE Nifty above the 5530 mark. On the corporate front Twilight Litaka Pharma Ltd rallied 1.10% to Rs. 178.70, after company report that the board has recommended a dividend of 30% for FY2010.M&M was trading up 2% in the early trade as it has signed MOU to acquire Ssangyong Motors to acquire a majority stake in the South Korean SUV maker.At 09.33 IST, the BSE Sensex is trading flat at 18,408.54 and the NSE Nifty is trading flat at 5,528.75.The BSE Mid Cap is trading up by 29.32 points or (0.37%) at 7,850.52 and the BSE Small Cap is trading up by 67.88 points or (0.69%) at 9,943.64.Gainers from the BSE Sensex pack are Jindal Steel up by (2.19%) at Rs. 703.75 followed by M&M up by (1.79%) at Rs. 628.80, Bharti Artl up by (1.45%) at Rs. 314.65, Tata Power up by (1.13%) at Rs. 1,303.95, Tata Stl up by (1.10%) at Rs. 525.90 and ACC up by (1.02%) at Rs. 877.95.Losers from the BSE Sensex pack are ITC down by (1.63%) at Rs. 160.15 followed by JP Assoc down by (1.42%) at Rs. 121.50, Hindalco Inds down by (1.01%) at Rs. 176.15 and HDFC Bk by (0.89%) at Rs. 2,211.20.The Overall market breadth is positive as 1,347 stocks are advancing while 619 stocks are declining and 63 stocks remained unchanged on BSE.In the Asian front, almost all the indices are trading mixed as the Nikkei, Strait Times, Hang Seng, Seoul Composite and Jakarta Composite trading down by (0.94%), (0.35%), (0.31%), (0.16%) and (0.04%) respectively. However, Taiwan Weighted, KLSE Composite and Shanghai Composite are trading up by (0.87%), (0.34%) and (0.13%) respectively.On Friday, the US market reported jittery close as the NASDAQ posted modest gains. Market opened negative as hangover from the prior session had put investors into a pessimistic mood. This negative sentiment resulted in the S&P 500 flout the technical levels which supported to restrict losses in the prior session, thus stocks set fresh lows for August, but remained above the worst levels of summer. On the sectoral front, the utilities sector outperformed and closed higher by 0.2% along with the semiconductors stocks which gained 0.4%. On the other hand, energy stocks were the laggards and closed down by 1.2%. In the major indices, the Dow Jones Industrial Average (DJIA) closed with a loss of 57.59 points or 0.56% at 10,213.62, while NASDAQ index finished higher by 0.81 points or 0.04% to 2,179.76. The S&P 500 (SPX) closed lower by 3.94 points or 0.37% to 1,071.69.BSE CD index was at 5,746.45 up by 54.69 points or by (0.96%). The gainers were Titan Inds trading higher by (2.04%) at Rs 2920.00 along with Videocon Inds trading higher by (1.77%) at Rs 247.50, Bajaj Elect by (0.66%) at Rs. 266.00, VIP Inds by (0.49%) at Rs 499.10 and Rajesh Exp by (0.46%) at Rs 98.70.BSE AUTO index was at 8,932.22 up by 57.39 points or by (0.65%). The major gainers were Amtek Auto trading up by (2.52%) at Rs 193 along with M&M by 1.72% at Rs 628.35, MRF by (1.11%) at Rs. 7,821, Apollo Tyres by (0.90%) at Rs. 72.55 and Maruti Suzuki by (0.54%) at Rs. 1,246.05.
Category : Market Reports
Date : Aug-23-2010 09:52
The market opened on a positive note but was soon dragged down on the back of weak Asian bourses as concerns rose over the global economy after calls by a European Central Bank official to maintain stimulus measures. Asian markets are trading in a mixed range today on growing concern about the health of the world economy after Wall Street closed lower on Friday with sentiment remained pessimistic after a series of indicators that show the world''s biggest economy is slowing. The market is turning volatile ahead of the FNO expiry later this week. On the sectorial front, considerable selling pressure was witnessed among the FMCG stocks, whereas the Consumer Durables, Auto and Power sectors are looking strong at the moment. The BSE Sensex is now trading above the 18420 mark in the early trade with the NSE Nifty above the 5530 mark. On the corporate front Twilight Litaka Pharma Ltd rallied 1.10% to Rs. 178.70, after company report that the board has recommended a dividend of 30% for FY2010.M&M was trading up 2% in the early trade as it has signed MOU to acquire Ssangyong Motors to acquire a majority stake in the South Korean SUV maker.At 09.33 IST, the BSE Sensex is trading flat at 18,408.54 and the NSE Nifty is trading flat at 5,528.75.The BSE Mid Cap is trading up by 29.32 points or (0.37%) at 7,850.52 and the BSE Small Cap is trading up by 67.88 points or (0.69%) at 9,943.64.Gainers from the BSE Sensex pack are Jindal Steel up by (2.19%) at Rs. 703.75 followed by M&M up by (1.79%) at Rs. 628.80, Bharti Artl up by (1.45%) at Rs. 314.65, Tata Power up by (1.13%) at Rs. 1,303.95, Tata Stl up by (1.10%) at Rs. 525.90 and ACC up by (1.02%) at Rs. 877.95.Losers from the BSE Sensex pack are ITC down by (1.63%) at Rs. 160.15 followed by JP Assoc down by (1.42%) at Rs. 121.50, Hindalco Inds down by (1.01%) at Rs. 176.15 and HDFC Bk by (0.89%) at Rs. 2,211.20.The Overall market breadth is positive as 1,347 stocks are advancing while 619 stocks are declining and 63 stocks remained unchanged on BSE.In the Asian front, almost all the indices are trading mixed as the Nikkei, Strait Times, Hang Seng, Seoul Composite and Jakarta Composite trading down by (0.94%), (0.35%), (0.31%), (0.16%) and (0.04%) respectively. However, Taiwan Weighted, KLSE Composite and Shanghai Composite are trading up by (0.87%), (0.34%) and (0.13%) respectively.On Friday, the US market reported jittery close as the NASDAQ posted modest gains. Market opened negative as hangover from the prior session had put investors into a pessimistic mood. This negative sentiment resulted in the S&P 500 flout the technical levels which supported to restrict losses in the prior session, thus stocks set fresh lows for August, but remained above the worst levels of summer. On the sectoral front, the utilities sector outperformed and closed higher by 0.2% along with the semiconductors stocks which gained 0.4%. On the other hand, energy stocks were the laggards and closed down by 1.2%. In the major indices, the Dow Jones Industrial Average (DJIA) closed with a loss of 57.59 points or 0.56% at 10,213.62, while NASDAQ index finished higher by 0.81 points or 0.04% to 2,179.76. The S&P 500 (SPX) closed lower by 3.94 points or 0.37% to 1,071.69.BSE CD index was at 5,746.45 up by 54.69 points or by (0.96%). The gainers were Titan Inds trading higher by (2.04%) at Rs 2920.00 along with Videocon Inds trading higher by (1.77%) at Rs 247.50, Bajaj Elect by (0.66%) at Rs. 266.00, VIP Inds by (0.49%) at Rs 499.10 and Rajesh Exp by (0.46%) at Rs 98.70.BSE AUTO index was at 8,932.22 up by 57.39 points or by (0.65%). The major gainers were Amtek Auto trading up by (2.52%) at Rs 193 along with M&M by 1.72% at Rs 628.35, MRF by (1.11%) at Rs. 7,821, Apollo Tyres by (0.90%) at Rs. 72.55 and Maruti Suzuki by (0.54%) at Rs. 1,246.05.
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