Tuesday, March 25, 2008

Breadth negative; midcaps negative

The markets are lacklustre with Nifty and broader markets in red. Sensex is trading in greenwith buying seen in select largecap IT and bank stocks. Breadth has worsened and the advance:decline was at 1:6. Nifty failed to hold above 4600 and Sensex is hovering around 15100. BSE Midcap and smallcap index were down over 3.5%.

At 2.22 hrs IST, the Sensex is up 116.09 points or 0.77% at 15110.92, and the Nifty down 29.30 points or 0.64% at 4544.65.

About 529 shares have advanced, 2461 shares declined, and 69 shares are unchanged.

Realty index is the worst hit followed by metal both down over 4% each followed by energy indices like oil & gas and power. Select bank, FMCG and IT stocks are witnessing some buying.

Among the major losers were Cairn India down 7.5%, Guj NRE Coke down over 10%. Siemens and Tata Steel are down over 3.5%. Other stocks in red are Reliance Energy, Hindalco, Reliance Communication, JP Associates, Ranbaxy.

ICICI Bank, HDFC, Wipro, HCL Tech are the top frontline gainers. Among the other gainers were Hindalco, ABB, Bharti Airtel, NTPC, HUL, ACC, HDFC, Suzlon, ONGC, Wipro, Hero Honda, ITC.

Essar Oil, RNRL, ICICI Bank were among the most active stocks on the bourses.

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