Markets trading volatile
The market opened on a firm note led by gains in index heavy weights Reliance Industries and ICICI Bank. It soon came sharply off higher level. Index heavyweight Infosys Technologies declined sharply.The markets still trading weak amid volatility on account of selling taking place in the IT and banking sectors. IT stocks are still under deep pressure.
At 12:05 pm, the Sensex is down 110.36 points or 0.57% at 19290.31, and the Nifty down 23.00 points or 0.40% at 5763.50.
TCS, India’s largest software exporter by sales, was down 1.45% to Rs 990. Infosys Techonogies, India's second largest software exporter (down 5.51% to Rs 1748.85) and Wipro (down 3.38% to Rs 470.90), edged lower.
Telecom stocks declined. Reliance Communications was down 3.35% to Rs 720.45, Bharti Airtel was down 2.30% to Rs 897.30 and Idea Cellular was down 1.19% to Rs 128.55.
The Department of Telecom (DoT), on Tuesday, 6 November 2007, announced setting up of a committee to revise the spectrum allocation criterion for existing operators in a scientific and practicable manner. It may be recalled that Telecom Engineering Centre had recently finalised spectrum allocation criterion, which had made it significantly more difficult for operators to get additional spectrum.
Oil & Natural Gas Corporation (ONGC) eased after touching the day’s high of 1345. It was now up just 0.02% to Rs 1301.
GAIL India soared 6.87% to Rs 458.85 on reports that the company is looking at acquiring stake in a Nigerian LNG plant and has expressed interest in setting up a gas-based petrochemical plant in Nigeria.
Reliance Industries was up 2.54% to Rs 2723. The company has struck gas in its block KG-OSN-2001/1 (KG-III-5) in the Krishna Godavari offshore basin. The company is still evaluating the commerciality of the discovery.
Among the capital goods stocks, Bharat Heavy Electrical moved up 3.88% to Rs 2830, Jaiprakash Associates grew 2.69% to Rs 1567,and emens rose 0.86% to Rs 1793.50.
Larsen & Toubro (L&T) rose 1.68% to Rs 4,195.05 after the company said it had priced its $400 million Global Depositary Shares issue at $100 each. Each GDS represents one equity share of the company
Among power sector stocks, Tata Power fell 3.74% to Rs 1303, Reliance Energy dropped 0.76% to Rs 1829.90 and Power Grid Corporation of India fell 1.04% to Rs 152.50.
Bharati Shipyard was down 1.26% to Rs 660 after it said it secured an order worth about Rs 208 crore for delivery of two platform supply vessels to Germany's Opielok Bereederungs GMBH & Company.
Major Reliance Group shares dipped. Reliance Natural Resources fell 9.02% to Rs 147.80 on huge volumes of 2.39 crore shares on BSE. Reliance Industrial Infrastructure was locked at lower limit of 5% at Rs 2268.80. Adlab Films was down 3.26% to Rs 857. Reliance Petroleum was down 1.43% to Rs 217.10 on huge volumes of 1.83 crore shares.
At 12:05 pm, the Sensex is down 110.36 points or 0.57% at 19290.31, and the Nifty down 23.00 points or 0.40% at 5763.50.
TCS, India’s largest software exporter by sales, was down 1.45% to Rs 990. Infosys Techonogies, India's second largest software exporter (down 5.51% to Rs 1748.85) and Wipro (down 3.38% to Rs 470.90), edged lower.
Telecom stocks declined. Reliance Communications was down 3.35% to Rs 720.45, Bharti Airtel was down 2.30% to Rs 897.30 and Idea Cellular was down 1.19% to Rs 128.55.
The Department of Telecom (DoT), on Tuesday, 6 November 2007, announced setting up of a committee to revise the spectrum allocation criterion for existing operators in a scientific and practicable manner. It may be recalled that Telecom Engineering Centre had recently finalised spectrum allocation criterion, which had made it significantly more difficult for operators to get additional spectrum.
Oil & Natural Gas Corporation (ONGC) eased after touching the day’s high of 1345. It was now up just 0.02% to Rs 1301.
GAIL India soared 6.87% to Rs 458.85 on reports that the company is looking at acquiring stake in a Nigerian LNG plant and has expressed interest in setting up a gas-based petrochemical plant in Nigeria.
Reliance Industries was up 2.54% to Rs 2723. The company has struck gas in its block KG-OSN-2001/1 (KG-III-5) in the Krishna Godavari offshore basin. The company is still evaluating the commerciality of the discovery.
Among the capital goods stocks, Bharat Heavy Electrical moved up 3.88% to Rs 2830, Jaiprakash Associates grew 2.69% to Rs 1567,and emens rose 0.86% to Rs 1793.50.
Larsen & Toubro (L&T) rose 1.68% to Rs 4,195.05 after the company said it had priced its $400 million Global Depositary Shares issue at $100 each. Each GDS represents one equity share of the company
Among power sector stocks, Tata Power fell 3.74% to Rs 1303, Reliance Energy dropped 0.76% to Rs 1829.90 and Power Grid Corporation of India fell 1.04% to Rs 152.50.
Bharati Shipyard was down 1.26% to Rs 660 after it said it secured an order worth about Rs 208 crore for delivery of two platform supply vessels to Germany's Opielok Bereederungs GMBH & Company.
Major Reliance Group shares dipped. Reliance Natural Resources fell 9.02% to Rs 147.80 on huge volumes of 2.39 crore shares on BSE. Reliance Industrial Infrastructure was locked at lower limit of 5% at Rs 2268.80. Adlab Films was down 3.26% to Rs 857. Reliance Petroleum was down 1.43% to Rs 217.10 on huge volumes of 1.83 crore shares.
Labels: Nifty.Sensex
posted by SY at 1:14 PM
0 Comments:
Post a Comment
<< Home