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Mkts end the Budget week in red

Written by: Staff

Mumbai, Jul 10: The markets end the Budget week in the red. The Sensex was down 318 points, to 13,438 and the Nifty fell 92 points, to 3,988.

The markets witnessed sell off due to the fall in oil & gas, power, capital goods, realty, banking and telecom stocks.

Falling by 10 pc, the markets set a new record. This is the lowest week ending since Oct 2008.

4:28 PM

Mkts flat; broader indices gain 0.70 pc each

The markets are trading flat. Buying interest was seen in IT, realty, metal and banks stocks. However, selling pressure continued in oil & gas and pharma stocks.

At 1: 25 pm, the Sensex was up 20.82 points or 0.15 per cent at 13778.28, and the Nifty was up 5.10 points or 0.12 per cent at 4086.05.

While Infosys, L&T ICICI Bank, HUL and TCS were the positive contributors; Reliance, HDFC, ITC, Bharti Airtel and HDFC Bank proved to be otherwise.Sterlite Ind, Wipro, Infosys, Tata Motors and DLF were the top gainers on Sensex. The losers were M&M, HDFC, Jaiprakash Asso, Tata Power and Sun Pharma.

The broader indices rose, 0.70 per cent each. Among the midcaps, JagranPrakashan, Essar Shipping, KEC Int, GlaxoSmith and Jai Corp were up 4 to 7 per cent. In the smallcap space, Seamec, Atlanta, Visa Steel, JK Tyre & Ind, Take Solutions were up 9 to 10 per cent.

2:14 PM

Mkts volatile; ITC, SBI, Tata Power see selling

The markets remain volatile and both the indices are around the previous closing values. At 12: 03 pm, Sensex was up 12 points, to 13,770 and the Nifty gained 8 points at 4,089. The broader indices went up 0.8 to 1 per cent.

The Index of Industrial production for the month of May 2009 saw was at 2.7 per cent as opposed to the previos month's 1.4 per cent.

Reliance Industries, ONGC, Bharti, HDFC, ITC, SBI, Tata Power, NTPC, L&T, M&M, Reliance Infrastructure, BPCL, HDFC Bank, Ranbaxy Labs, Ambuja Cements and ACC were witnessing selling.

Buying interest was seen in technology and relaty stocks.

Other gainers were Sterlite, ICICI Bank, HUL, BHEL, Axis Bank, Tata Steel, Tata Motors, Reliance Communication, PNB and Idea.

12:34 PM

Mkts open +ve; Wipro, Infosys, TCS gain

The markets opened positive, however turned choppy. At 9:58 am, the Nifty was up 9 points, to 4,090 and the Sensex gained 23 points, to 13,780. The CNX Midcap rose 17 points, to 5,273 and the BSE Smallcap Index went up 26 points, to 5,356.

The gainers among the frontliners were Infosys, Wipro, HCL Tech and TCS gained 1 to 4.5 per cent. Unitech and Sterlite Industries. Better than expected Q1 results helped Infosys on the markets.

However, the losers were NTPC, Ranbaxy Labs, Cairn, Hero Honda, Power Grid and SBI.

Among the midcaps, Mahindra Satyam, Taj GVK surged by goind uo 5 per cent and 6 per cent respectively. Other gainers were HCC and Voltas. However, Ashok Leyland, Dish TV, SREI Infra and Kalindee Rail were the losers.

10:20 AM

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