Markets losing grip
The market opened on a strong note tracking firm global equities. But it pared gains shortly after striking an all-time high.And now Bulls have given up the holding to bears.At 11:40 am, the Sensex is down 104.60 points at 14775.65 and the Nifty down 33.55 points at 4325.75.
Top losere were Ambuja Cements, Bharti Airtel, ABB, BHEL and Ranbaxy Labs whereas gainers were like Larsen, HUL, ICICI Bank, Maruti Udyog and M&M.
Engineering and construction major L&T advanced 2.47% to Rs 2,348. L&T will float five new companies to ensure better corporate governance as well as attracting talent. The companies will operate in L&T’s new business areas of power projects, boilers, turbines, water and shipbuilding.
Car major Maruti Udyog gained 1.74% to Rs 805 as buying continued after it recorded a 24% rise in sales in June 2007 on demand for its Swift hatchback and the new SX4 sedan. Maruti sold 59,917 cars, vans and sport-utility vehicles in India and overseas last month compared with 48,425 a year earlier.Tata Motors was up 0.63% to Rs 702.10, while Bajaj Auto rose 0.23% to Rs 2,115.
Index heavyweight Reliance Industries (RIL) was down 0.05% to Rs 1716.Bike maker Hero Honda Motors was the top loser from the Sensex pack. It shed 1.22% to Rs 677.25 on thin early volumes of 1,413 shares.Ranbaxy (down 1.17% to Rs 363.40), Ambuja Cements (down 1.14% to Rs 128.25) and Bharti Airtel (down 1.10% to Rs 848) were the other losers.
Realty major DLF was hovering at Rs 554.30, a premium of 5.5% over the IPO price of Rs 525. The scrip debuted at Rs 582. Thereafter, it had touched a high of Rs 714.25 and a low of Rs 505.60 so far during the day.
Top losere were Ambuja Cements, Bharti Airtel, ABB, BHEL and Ranbaxy Labs whereas gainers were like Larsen, HUL, ICICI Bank, Maruti Udyog and M&M.
Engineering and construction major L&T advanced 2.47% to Rs 2,348. L&T will float five new companies to ensure better corporate governance as well as attracting talent. The companies will operate in L&T’s new business areas of power projects, boilers, turbines, water and shipbuilding.
Car major Maruti Udyog gained 1.74% to Rs 805 as buying continued after it recorded a 24% rise in sales in June 2007 on demand for its Swift hatchback and the new SX4 sedan. Maruti sold 59,917 cars, vans and sport-utility vehicles in India and overseas last month compared with 48,425 a year earlier.Tata Motors was up 0.63% to Rs 702.10, while Bajaj Auto rose 0.23% to Rs 2,115.
Index heavyweight Reliance Industries (RIL) was down 0.05% to Rs 1716.Bike maker Hero Honda Motors was the top loser from the Sensex pack. It shed 1.22% to Rs 677.25 on thin early volumes of 1,413 shares.Ranbaxy (down 1.17% to Rs 363.40), Ambuja Cements (down 1.14% to Rs 128.25) and Bharti Airtel (down 1.10% to Rs 848) were the other losers.
Realty major DLF was hovering at Rs 554.30, a premium of 5.5% over the IPO price of Rs 525. The scrip debuted at Rs 582. Thereafter, it had touched a high of Rs 714.25 and a low of Rs 505.60 so far during the day.
Labels: Nifty.Sensex
posted by SY at 11:33 AM
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