labels: stock markets - india, markets - general
18 July 11.10 PM: Sensex down 7 points on mixed global cues news
18 July 2006


Markets are not able to bounce back after yesterday's fall as global markets remain subdued. US indices closed flat yesterday and Asian indices are mixed today. Japan and South Korea, which were closed yesterday, are trading with losses of over 1.5 per cent each.

Sensex opened at 10337 and went past 10400 before declining. The index is trading lower by 7 points at 10286 at 11.10 AM.

Nifty opened at 3007 and touched a high of 3038. The index is trading lower by just a point at 3006.

HDFC is the biggest gainer among index stocks, after declining substantially over the last few sessions. The stock is trading nearly 2 per cent higher while HDFC Bank has gained over 0.5 per cent.

ONGC is seeing a mild recovery after yesterday's 7 per cent fall and is trading more than a per cent higher. Among other oil sector stocks, BPCL has gained over 1.5 per cent while HPCL is trading with modest gains.

Among technology stocks, Satyam and Infosys have recovered with gains of over a per cent each. TCS has gained 0.5 per cent ahead if its results announcement today evening.

Ranbaxy is another major gainer in early trades and has added nearly 2 per cent. Sun Pharma is trading nearly a per cent higher.

Among FMCG stocks, Tata Tea has added over a per cent while HLL is trading nearly a per cent higher.

BPCL and M&M are the other gainers among index stocks.

For Jet Airways, there seems to be no end to its free fall. The stock is down another 3 per cent and is the biggest loser among index stocks.

Index heavyweight Reliance Industries has lost 2.5 per cent and is keeping the indices subdued.

Maruti has dropped further and is trading more than 1.5 per cent lower.

Tata Steel has lost close to 2 per cent while SAIL is trading more than a per cent lower. Among aluminium stocks, Hindalco is down over a per cent and Nalco has lost 0.5 per cent.

Among PSU banks, SBI and OBC have lost over a per cent each. ICICI Bank has declined close to a per cent.

Tata Power has lost over a per cent after ending as the only gainer among index stocks yesterday.

VSNL, HCL Technologies, Siemens and Grasim are the other major losers among index stocks - all trading over a per cent lower.

Mid-caps and small stocks are underperforming the large caps in early trades. There is no buying interest in mid-caps though no sell-off is visible either.

The NSE mid-cap index is now trading with losses of around 0.75 per cent. BSE mid-cap and small-cap indices are also trading with losses of around 0.7 per cent each.

Nava Bharat Ferro Alloys, Adhunik Metals, United Western Bank, CMC and Deccan Chronicle are among the major mid-cap gainers.

SPL Industries, Repro India, Geometric Software, Bartronics, Unitech, and Mid-Day are the major mid-cap losers.



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18 July 11.10 PM: Sensex down 7 points on mixed global cues