labels: stock markets - india, markets - general

26 Sep 01.10 PM: Sensex gives up gains news
26 September 2006


After holding on to the gains till noon, the markets have seen a sudden fall and the indices have given up all their gains. Sensex is holding on to marginal gains while the Nifty has slipped into the red.

Asian markets, which were mixed in early trades, have declined in afternoon trades while Europe has opened with good gains.

Sensex is trading higher by 4 points at 12178 at 01.10 PM.

Nifty is now trading lower by 2 points at 3522.

Oil & gas stocks remain under pressure. ONGC has lost nearly a per cent and has contributed significantly to the downtrend. BPCL and Gail India have shed close to 1.5 per cent each.

ITC is the worst performer among index stocks, with losses of more than 1.5 per cent.

Nalco remains weak with losses of close to 1.5 per cent

Bharti has lost further ground and is now down more than a per cent. VSNL has slipped in early afternoon trades and has lost nearly a per cent.

Cement stocks also remain under pressure. Gujarat Ambuja has shed nearly a per cent while Grasim has lost over 0.5 per cent.

Glaxo is the other loser, trading more than 0.5 per cent lower.

Technology stocks are holding on to part of their gains, but have come off their highs. Wipro remains the best performer among index stocks, with gains of 1.5 per cent. Infosys is trading 0.5 per cent higher.

Reliance Industries is holding on to gains of over 0.5 per cent and is supporting the indices.

ICICI Bank has picked up strength and has added over 0.5 per cent. HDFC is also trading with gains of more than 0.5 per cent while HDFC Bank has gained nearly 0.5 per cent.

Suzlon has come off its highs and is trading nearly a per cent higher.

Bajaj Auto is up nearly a per cent and Tata Motors has added close to 0.5 per cent.

Zee Tele is trading more than 0.5 per cent higher.

Mid-caps and small caps have given up most of their gains in early afternoon trades. The NSE mid-cap index is now trading with gains of over 0.25 per cent. BSE mid-cap index is trading nearly 0.25 per cent higher and the small-cap index is trading with gains of close to 0.2 per cent. Market breadth on the NSE has declined and is marginally negative now.

Action Construction Equipment, which got listed on the exchanges today, is now trading with gains of 50 per cent at Rs194.5.

Rama Newsprint, Prime Securities, Sterling Biotech, Bindal Agro, Tube Investments, Compulink Systems, Schenectady Herdillia and Tips Industries are among the major mid-cap gainers.

Alembic Limited, GTL, Aksh Optifibre, Suryajyoti Spinning, GKW and TCI are the major mid-cap losers.


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26 Sep 01.10 PM: Sensex gives up gains