labels: stock markets - india, markets - general

03 Nov 11.10 AM: Sensex subdued; ONGC up 3.5 per cent news
03 November 2006

Despite the sustained surge in ONGC, frontline indices have given up all their opening gains. Other Asian markets are mostly positive in early trades.

Sensex opened at 13119 and touched a high of 13135. The index is trading lower by 14 points at 13077 at 11.10 AM.

Nifty opened at 3793 and saw a high of 3806. The index is now trading lower by just one point at 3790.

Tech stocks are again under pressure today. HCL Tech is the worst performer among index stocks, trading more than 2 per cent lower. TCS, Wipro and Infosys have all lost around a per cent each

Dabur is continuing the correction from yesterday and has lost another 2 per cent

MTNL has slipped further and has lost another per cent

Gail India is also continuing the down trend and has slipped another per cent

SAIL, Glaxo and HDFC Bank are the other major losers among index socks.

There is no stopping ONGC today either. The stock has rallied more than 3.5 per cent after yesterday's 4.5 per cent surge. ONGC has reclaimed the title of most valuable company from Reliance Industries

Among other oil stocks, HPCL and BPCL are trading with modest gains

Dr Reddy is sustaining the up trend and has added another 1.5 per cent. Ranbaxy and Sun Pharma have gained close to 0.5 per cent each.

Jet Airways also remains firm with gains of well over a per cent

Siemens is holding on to recent gains and has added over 0.5 per cent today

SBI and Bajaj Auto are the other gainers among index stocks

Mid-caps and small caps are doing better than large caps in early trades, though some of the prominent mid-caps are under perssure. The NSE mid-cap index is now trading with losses of over 0.05 per cent. BSE mid-cap and the small-cap indices have added around 0.4 per cent each. Market breadth on the NSE is modestly negative in early trades.

HEG has added another 10 per cent after yesterday's rally on unconfirmed media reports that Arcelor-Mittal is eyeing a stake in the company.

Dishman Pharma and Saregama are locked in 10 per cent upper circuits.

Voltas, JHS Svengaard, Man Industries, Balaji Tele, RPG Transmission, Patel Engineering and Subex Azure are among the major mid-cap gainers.

JBM Auto Comp, IVP, IFB Agro, Bartronics, Apcotex Industries, TCI Finance, NIIT Tech, IFB Industries and GTN Industries are the major mid-cap losers.

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03 Nov 11.10 AM: Sensex subdued; ONGC up 3.5 per cent