labels: stock markets - india, markets - general

22 Sep 01.10 PM: Sensex down 52 points news
22 September 2006


Indices have declined in early afternoon trades after attempting a recovery in mid-morning trades. Technology stocks are among the worst hit, following the decline in ADR prices in the US markets yesterday. Asian markets continue to trade with substantial losses and Europe has also opened with considerable losses.

Sensex is trading lower by 52 points at 12222 at 01.10 PM.

Nifty is now trading lower by 14 points at 3539.

Satyam Computers is still the worst performer among index stocks, with losses of over 2 per cent. TCS has lost nearly 1.5 per cent while Infosys is still trading nearly a per cent lower.

Oil marketing stocks remain weak as oil prices have recovered modestly. HPCL is down nearly 2 per cent and BPCL has lost close to 1.5 per cent.

ICICI Bank has lost further ground and is now down nearly 2 per cent.

Zee is another loser in early afternoon trades, having lost nearly 2 per cent.

MTNL remains weak with losses of 1.5 per cent.

Dabur and Dr. Reddy's are the other major losers among index stocks.

Jet Airways remains the best performer among index stocks and is holding on to gains of close to 3 per cent.

Cement stocks remain firm, led by Grasim which is up more than 2 per cent. Gujarat Ambuja Cements has added nearly a per cent while ACC is holding on to gains of over 0.5 per cent.

Reliance Industries is also holding on to gains of nearly a per cent. Gail India has gained more than 2 per cent.

Bajaj Auto, Bharti, Tata Power and Siemens are the other major gainers.

Mid-caps and small caps have also given up all their early gains and have slipped into the red. The NSE mid-cap index is now trading with losses of nearly 0.3 per cent. BSE mid-cap index has lost 0.35 per cent and the small-cap index has given up nearly 0.2 per cent. Market breadth on the NSE remains negative.

IVP, Orient Abrasives, Dredging Corp, Alps Industries, Bindal Agro, Tulip IT, TCI, Sandesh and Century Ply are among the major mid-cap gainers.

Sterling Biotech, Vaibhav Gems, GM Breweries, Dynamatics Technologies, Nagreeka Exports, Crest Animations, Unitech, Mirza International, Schenectady Herdillia are the major mid-cap losers.


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22 Sep 01.10 PM: Sensex down 52 points