labels: stock markets - india, markets - general

12 Sep 01.10 PM: Sensex volatile; down 15 points news
12 September 2006


Indices remain volatile as the markets try to establish a clear direction after yesterday's sharp fall. After slipping nearly 0.75 per cent each before noon, the indices recovered and moved back into positive territory before slipping again.

Other Asian markets remain weak and Japan closed 0.5 per cent lower. Europe has opened with modest losses.

Sensex is trading lower by 15 points at 11536 at 01.10 PM.

Nifty is now trading lower by 15 points at 3351. Nifty is underperforming the Sensex because of the sharp fall in ONGC.

Oil stocks have declined in afternoon trades. HPCL, one of the best performers in recent weeks, is down over 3.5 per cent. BPCL has lost close to 2.5 per cent.

ONGC has slipped further after a weak start and is now down more than 3 per cent. Gail India has lost close to 2.5 per cent.

Metal stocks remain weak in early afternoon trades as well. Hindalco is the worst performer, with losses of nearly 4.5 per cent. Nalco is trading more than 2 per cent lower.

BHEL is the biggest loser among engineering stocks, trading nearly 2.5 per cent lower. ABB has lost almost 2 per cent.

Tata Power continues to trade with losses of nearly 2.5 per cent.

HLL is the other big loser, trading more than 2 per cent lower.

PSU banking stocks are finding good interest. PNB has added nearly 3 per cent while OBC is trading more than 2.5 per cent higher. SBI has added nearly a per cent.

Zee Tele remains the best performer among index stocks, with gains of nearly 3.5 per cent.

Tech stocks, which opened firm, have built on their strength. TCS and HCL Tech have gained close to 1.5 per cent each and Infosys is trading more than a per cent higher.

Hero Honda has gained further and is now trading nearly 2 per cent higher.

IPCL is trading more than a per cent higher.

Mid-caps and small caps have also come off their earlier lows. The NSE mid-cap index is now trading with gains of 0.3 per cent. But the BSE mid-cap index is trading with losses of over 0.3 per cent and the small-cap index is trading with losses of over 0.7 per cent. Market breadth on the NSE remains negative with more than 2 stocks declining for every advancing stock

PSU stocks HMT and ITI have made a come back after falling yesterday. HMT has gained 10 per cent and ITI has added 5 per cent.

IndiaBulls is still trading firm and has gained nearly 10.5 per cent.

Orient Paper, VIP Industries, Blow Plast, Cinevistas Bindal Agro and Ramco Systems are among the other major mid-cap gainers.

Vimta Labs, REI Agro, East India Hotels, JBM Auto, BSL, Mirza International and Saksoft are the major mid-cap losers.


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12 Sep 01.10 PM: Sensex volatile; down 15 points