labels: stock markets - india, markets - general
Market update: Sensex slips after positive start news
26 March 2007


Indices started the day with modest gains, but have drifted down. Other Asian markets are mostly positive in morning trades

Sensex opened at 13346 and declined to a low of 13234. The index is trading lower by 26 points at 13260 at 11.10 AM.

Nifty opened at 3863 and saw a high of 3885. The index is now trading higher by just 1 point at 3862

Tata Motors is the worst performer among index stocks with losses of over 3 per cent while Maruti has lost close to 1.5 per cent.

HDFC Bank has lost over 2 per cent while HDFC is down more than 1.5 per cent.

Among engineering and capital goods stocks, Suzlon and L&T are down more than a per cent each.

Dabur has lost close to a per cent while ITC is down nearly 0.5 per cent

Infosys has lost close to 0.5 per cent in early trades

BPCL is the other loser, down close to 0.5 per cent

PNB is continuing the good run from last week and is the best performer with gains of 2 per cent

Among cement stocks, ACC has gained over a per cent while Gujarat Ambuja has added close to a per cent. Grasim is trading well over 0.5 per cent higher

Satyam is trading more than a per cent higher

MTNL has added well over 1.5 per cent

Tata Steel is doing well with gains of close to a per cent

IPCL, Zee Entertainment and Jet Airways are the other major gainers

Mid-caps and small caps have gained in morning trades. The NSE mid-cap index is now trading with gains of close to 0.15 per cent. BSE mid-cap index is trading with gains of over 0.15 per cent and the BSE small-cap index has added close to 0.3 per cent. Market breadth on the NSE is marginally positive in early trades.

Sugar stocks are doing well today, despite fears of further decline in sugar prices. Ponni Sugar is trading nearly 10 per cent higher. Sakthi Sugar has added close to 7 per cent while Bajaj Hindustan has gained over 6 per cent. Dharani Sugar and Andhra Sugar are the other major gainers.

Lakshmi Energy and Finance, Siyaram Silks, Dynamatics Technologies, BEPL and Page Industries are the major mid-cap gainers

Nahar Exports is down 20 per cent and Nahar Spinning has lost 15.5 per cent

Somany Ceramics, Magma Leasing, Transwarranty Finance, NR Bearnings, Crompton Greaves and Sathavahana Ispat are the other major mid-cap losers.



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Market update: Sensex slips after positive start