Despite a strong closing by US markets, lower crude oil
prices and mostly firm Asian markets, Indian indices have
come under profit booking in early trades. The August
F&O settlement due tomorrow is adding to the volatility.
opened at 11735 and touched a high of 11748 before declining.
The index is trading lower by 40 points at 11667 at 11.10
opened at 3426 and touched a high of 3440 before coming
under pressure. The index is now trading lower by 11 points
stocks are under pressure on market speculation about
companies announcing price cuts by early next month. Tata
Steel is the worst performer among index stocks, trading
nearly 2 per cent lower.
has lost well over a per cent while SAIL and Hindalco
are trading close to a per cent each lower.
is seeing some profit booking after yesterday's gains
and is down nearly a per cent.
has also corrected after yesterday's 2 per cent up move
and is trading 0.5 per cent lower.
India is another loser, trading nearly 1.5 per cent lower.
Energy, VSNL, Bharti, Cipla and IPCL are the other losers.
marketing stocks have made another firm up move as crude
oil prices have dropped below the $70 per barrel mark.
HPCL is the best performer with gains of close to 3.5
per cent. BPCL has added more than 3 per cent.
has added nearly a per cent on reports of a favourable
court ruling in Norway in the Lipitor patent case. Dr.
Reddy's is also up nearly a per cent while Glaxo has added
0.5 per cent.
is sustaining the up trend with gains of close to a per
Motors has recovered from yesterday's correction and has
added over 0.5 per cent. Maruti has added another 0.5
per cent. The decline in oil prices has perked up auto
stocks as well.
Tech and Satyam have added 0.5 per cent each.
and small caps also started the day with modest gains,
but gave up and have slipped into the red. Profit booking
is seen in most major mid-caps.
NSE mid-cap index is now trading with losses of over 0.25
per cent. BSE mid-cap index has lost more than 0.3 per
cent and small-cap index is down close to 0.5 per cent.
Market breadth on the NSE was positive in opening trades
but is currently modestly negative.
Maruti, Aurionpro, Consolidated Finvest, Gabriel India,
RPG Cables, Philips Carbon Black, NRC and Khaitan Electricals
are among the major mid-cap gainers.
stocks are under further pressure in early trades. Sakthi
Sugar, Shree Renuka and Rajshree Sugar are the major losers.
Rana Sugars is continuing the rally from yesterday and
has added another 5 per cent.
Engines, Petron Engineering, Mukand Engineering, Sheshasayee
Paper and Magma Leasing are the major mid-cap losers.