labels: stock markets - india, markets - general

04 Dec 01.10 PM: Sensex gives up part gains; up 23 points news
04 December 2006


Markets have come under pressure after the firm opening and the indices have lost part of their gains. While techs and heavies like ONGC have lost ground, auto stocks and engineering stocks are holding firm. Other Asian markets remain mixed while Europe has opened substantially lower.

Sensex is trading higher by 23 points at 13868 at 01.10 PM.

Nifty is now trading higher by 6 points at 4003.

Auto stocks have gained further in afternoon trades. Tata Motors continues to lead the sector with gains of over 4 per cent. M&M has gained over 1.5 per cent while Maruti is trading close to 1.5 per cent higher.

ACC has made a major up move and is the best performer with gains of well over 4 per cent.

Engineering stocks are holding on to gains, led by ABB, which is up nearly 3.5 per cent. L&T is trading nearly 2 per cent higher.

Power utility companies Tata Power and Reliance Energy have gained around 3 per cent each.

HPCL has bounced back from a weak opening and is trading 1.5 per cent higher.

Glaxo and PNB are the other major gainers.

Tech stocks have slipped further. Satyam remains the worst performer, with lows of nearly 3 per cent. Wipro and HCL Tech are down nearly 2 per cent each.

HDFC Bank is under pressure and has shed more than 2 per cent while HDFC remains weak by more than a per cent.

Jet Airways remain under pressure and is down nearly 2.5 per cent.

ONGC is seeing some weakness and has lost more than 0.5 per cent.

Hero Honda, Zee Tele and Cipla are the other losers.

Mid-caps and small caps have also given up part of their gains. The NSE mid-cap index is now trading with gains of over 0.2 per cent. BSE mid-cap is trading over 0.8 per cent higher and the small-cap index is trading with gains of 0.8 per cent. Market breadth on the NSE remains positive with nearly 1.5 stocks advancing for every declining stock.

Flex Industries has gained further and is now trading with gains of nearly 16.5 per cent. Pioneer Embroideries, Pearl Global and Lakshmi Precision are locked in 10 per cent circuits.

Titanor Components, Media Video, Global Vectra, Torrent Pharma, FACT, and Rajesh Exports are among the major mid-cap gainers.

Parsvnath Developers, which had a very good listing last week, has corrected and is trading over 4 per cent lower.

IndiaBulls is another prominent mid-cap loser, down more than 4 per cent.

Vindhya Tele, Gati, R Systems, BIL, Bal Pharma, Cambridge Solutions, Lanxess ABS and SPL Limited are the major mid-cap losers.


 search domain-b
  go
 
04 Dec 01.10 PM: Sensex gives up part gains; up 23 points