labels: stock markets - india, markets - general

Market update: Sensex slips 16 points news
29 December 2006

After trading within a range till early afternoon, the indices have slipped marginally into the red. Other Asian markets remain mostly firm while Europe has opened mostly negative.

Sensex is trading lower by 16 points at 13830 at 01.10 PM.

Nifty is now trading lower by 1 point at 3970.

Engineering and capital goods stocks have rallied after the firm opening. ABB is now trading with gains of nearly 2 per cent while Siemens has gained more than 1.5 per cent. L&T and Suzlon are trading nearly a per cent higher each.

VSNL is holding on to gains of close to 2.5 per cent and remains the best performer among index stocks.

HPCL is trading more than a per cent higher and BPCL has added nearly a per cent.

Dr Reddy is now trading nearly 1.5 per cent higher.

Dabur is holding on to gains of over a per cent.

ACC has moved up in afternoon trades and is now trading nearly 1.5 per cent higher.

HLL has slipped further after a weak opening and is the worst performer with losses of close to 2 per cent. ITC is down nearly 1.5 per cent.

Reliance Communications remains weak and has lost nearly 1.5 per cent while MTNL is down nearly a per cent.

Satyam has slipped further and is now down more than a per cent.

Gujarat Ambuja Cements has lost ground in early afternoon trades and is trading nearly a per cent lower.

Gail India remains weak by more than 0.5 per cent.

Nalco, Cipla and OBC are the other major losers.

Mid-caps and small caps continue to outperform the large caps. The NSE mid-cap index is now trading with gains of nearly 0.7 per cent. BSE mid-cap index has gained over 0.85 per cent and the BSE small-cap index has added more than 0.9 per cent. Market breadth on the NSE remains positive in early afternoon trades with nearly 1.5 stocks advancing for every declining stock.

Nissan Copper, which got listed today, has soared in early afternoon trades. Issued at Rs39 per share, the stock is now trading at Rs107 - a listing gain of nearly 175 per cent.

Ess Dee Aluminium, which listed yesterday, has gained close to 8 per cent.

Shivam Auto, D-Link, Plethico Pharma, Surya Pharma, Allcargo, Triveni Engineering and Elecon are among the major mid-cap gainers.

Compulink Systems, Eicher, SI Group, Dishman, Apcotex, Assam Company and IFB Industries are the major mid-cap losers.

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Market update: Sensex slips 16 points