Markets remain choppy
After a positive start, the market soon slipped into the red. It came off lower level later. The market breadth was weak. FMCG and realty stocks gained. Banking stocks declined. Reliance Industries edged lower.The markets have slipped further and were trading weak on the back of heavy selling coming in across the sectors led by metal, power, realty and banking stocks. Midcaps and smallcaps were underperforming toay.
At 12.20 pm, the Sensex is down 206.02 points or 1.07% at 19055.33, and the Nifty down 37.85 points or 0.66% at 5739.15.
Power stocks declined. Reliance Energy (down 2.02% to Rs 1,792.05), Neyveli Lignite (down 2.9% to Rs 225.75) and Tata Power Company (down 2.92% to Rs 1,258) edged lower. However, NTPC rose 1.31% to Rs 231.60.
India’s largest private sector firm by market capitalization & oil refiner Reliance Industries declined 0.77% to Rs 2,756. As per reports, Reliance Industries (RIL) has paid advance tax of Rs 1045 crore in the third quarter ended 15 December 2007 compared to Rs 440 crore in the corresponding quarter of the previous year.
Reliance Communications (RCom) was down 0.25% to Rs 716. As per reports it will invest Rs 800 crore to roll out a telecom network — fixed and mobile — in Uganda, a country in Eastern Africa. The company has bagged a licence to be the African nation’s sixth telecom operator. The company plans to launch services in Uganda by Q3 in 2008, the report added.
Metal stocks declined. Jindal Steel & Power (down 5.24% to Rs 13,612), Shree Precoated Steel (down 4% to Rs 352), Sterlite Industries (down 2.06% to Rs 956), Hindalco Industries (down 1.57% to Rs 197.50) edged lower. Tata Steel (up 0.86% to Rs 830.95), National Aluminium Company (up 0.59% to Rs 420.95) and Steel Authority of India (up 0.71% to Rs 261.60) edged higher.
FMCG majors rose. ITC (up 0.93% to Rs 195.35), Hindustan Unilever (up 0.18% to 219), and Tata Tea (up 0.64% to Rs 875) edged higher.
Realty stocks declined. Unitech (down 2.78% to Rs 452.40), Indiabulls Real Estate (down 1.8% to Rs 667) edged lower. DLF (up 1.3% to Rs 955) edged higher.Housing Development and Infrastructure (HDIL) declined 3.17% to Rs 936. It has reportedly decided to enter the entertainment sector under the brand name Broadway. HDIL will invest close to Rs 1,000 crore to fund its organic as well as inorganic expansion in the country’s multiplex market, the reports added.
Capital goods stocks declined. Bharat Heavy Electricals (down 2.28% to Rs 2,370), Larsen & Toubro (down 3.11% to Rs 3,954.70) edged lower Suzlon Energy (up 0.65% to Rs 1,840) edged higher.
Banking stocks declined. ICICI Bank (down 1.15% to Rs 1,153.65) and HDFC Bank (down 1.86% to Rs 1,647) edged lower.State Bank of India declined 0.45% to Rs 2,304. State Bank of India (SBI) shelled out Rs 1090 crore, up 26.7% over the tax it paid in the corresponding period in the previous year.HDFC, India's biggest dedicated housing finance firm by revenue, lost 2.35% to Rs 2,810.
Maruti Suzuki India (up 1.33% to Rs 1,023.70) and Bharti Airtel (up 1.24% to Rs 916) edged higher.Diamond Cables rose 3.66% to Rs 453.75 after it said that it is in receipt of large order to supply 956 power transformers for export to one of the leading power utilities in Africa.
At 12.20 pm, the Sensex is down 206.02 points or 1.07% at 19055.33, and the Nifty down 37.85 points or 0.66% at 5739.15.
Power stocks declined. Reliance Energy (down 2.02% to Rs 1,792.05), Neyveli Lignite (down 2.9% to Rs 225.75) and Tata Power Company (down 2.92% to Rs 1,258) edged lower. However, NTPC rose 1.31% to Rs 231.60.
India’s largest private sector firm by market capitalization & oil refiner Reliance Industries declined 0.77% to Rs 2,756. As per reports, Reliance Industries (RIL) has paid advance tax of Rs 1045 crore in the third quarter ended 15 December 2007 compared to Rs 440 crore in the corresponding quarter of the previous year.
Reliance Communications (RCom) was down 0.25% to Rs 716. As per reports it will invest Rs 800 crore to roll out a telecom network — fixed and mobile — in Uganda, a country in Eastern Africa. The company has bagged a licence to be the African nation’s sixth telecom operator. The company plans to launch services in Uganda by Q3 in 2008, the report added.
Metal stocks declined. Jindal Steel & Power (down 5.24% to Rs 13,612), Shree Precoated Steel (down 4% to Rs 352), Sterlite Industries (down 2.06% to Rs 956), Hindalco Industries (down 1.57% to Rs 197.50) edged lower. Tata Steel (up 0.86% to Rs 830.95), National Aluminium Company (up 0.59% to Rs 420.95) and Steel Authority of India (up 0.71% to Rs 261.60) edged higher.
FMCG majors rose. ITC (up 0.93% to Rs 195.35), Hindustan Unilever (up 0.18% to 219), and Tata Tea (up 0.64% to Rs 875) edged higher.
Realty stocks declined. Unitech (down 2.78% to Rs 452.40), Indiabulls Real Estate (down 1.8% to Rs 667) edged lower. DLF (up 1.3% to Rs 955) edged higher.Housing Development and Infrastructure (HDIL) declined 3.17% to Rs 936. It has reportedly decided to enter the entertainment sector under the brand name Broadway. HDIL will invest close to Rs 1,000 crore to fund its organic as well as inorganic expansion in the country’s multiplex market, the reports added.
Capital goods stocks declined. Bharat Heavy Electricals (down 2.28% to Rs 2,370), Larsen & Toubro (down 3.11% to Rs 3,954.70) edged lower Suzlon Energy (up 0.65% to Rs 1,840) edged higher.
Banking stocks declined. ICICI Bank (down 1.15% to Rs 1,153.65) and HDFC Bank (down 1.86% to Rs 1,647) edged lower.State Bank of India declined 0.45% to Rs 2,304. State Bank of India (SBI) shelled out Rs 1090 crore, up 26.7% over the tax it paid in the corresponding period in the previous year.HDFC, India's biggest dedicated housing finance firm by revenue, lost 2.35% to Rs 2,810.
Maruti Suzuki India (up 1.33% to Rs 1,023.70) and Bharti Airtel (up 1.24% to Rs 916) edged higher.Diamond Cables rose 3.66% to Rs 453.75 after it said that it is in receipt of large order to supply 956 power transformers for export to one of the leading power utilities in Africa.
Labels: Nifty.Sensex
posted by SY at 12:45 PM
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