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Markets continue lacklustre trades

SI Reporter/Mumbai 29 Aug 12 | 01:02 PM

Key share indices have extended the losses tracking weakness in IT, Auto and Metal shares. Sensex is down 88 points at 17,544. The index Key share indices have extended the losses tracking weakness in IT, Auto and Metal shares. Sensex is down 88 points at 17,544. The index earlier touched a low of 17,531. Nifty is down 30 points at 5,304.

Meanwhile, the rupee rose marginally by 3 paise to 55.64 against the dollar in early trade on the Interbank Foreign Exchange today as the American currency weakened against euro overseas.

On the global front, the euro remained firm while Asian shares steadied on Wednesday as investors awaited U.S. Fed chairman Ben Bernanke's Friday speech for signs of whether the bank will opt for more monetary stimulus and a European Central Bank policy meeting next week. Nikkei is up 37 points at 9,070.

Back home, BSE healthcare index has managed to gain 0.5% at 7,435. However, BSE auto index has slipped 1.3% at 9,346. Metal, realty, oil & gas indices are down over 1% each.

Technology major Infosys has slipped 1% at Rs 2,401. Software exporters continued to witness profit taking at higher levels after gains last week and ahead of key US economic data due for release this week. Infosys, Wipro and TCS earn most of their revenues from exports to the US.

From the Auto space, Bajaj Auto is down 4%. Sterlite, BHEL, Hero Motocorp and Hindalco are down 1-4.5% each.

Oil and Natural Gas Corporation (ONGC) is trading lower by 2.2% at Rs 276, extending its previous day’s 2% fall after the Comptroller and Auditor General (CAG) damned the state-owned oil exploration firm for lack of focus on exploration, inefficient operations and tardy pace of developing new oil and gas finds.

On the gaining side, Tata Power is the top Sensex gainer, up almost 2.7% in otherwise subdued market after the Maharashtra Electricity Regulatory Commission increased fuel adjustment cost ceiling to 20% from 10%.

Meanwhile, BSE Midcap and BSE Smallcap indices are trading down 0.3% each at 5,977 and 6,400, respectively. The market breadth in BSE remains negative with 1,483 shares declining and 1,024 shares advancing.aearlier touched a low of 17,531. Nifty is down 30 points at 5,304.

Meanwhile, the rupee rose marginally by 3 paise to 55.64 against the dollar in early trade on the Interbank Foreign Exchange today as the American currency weakened against euro overseas.

On the global front, the euro remained firm while Asian shares steadied on Wednesday as investors awaited U.S. Fed chairman Ben Bernanke's Friday speech for signs of whether the bank will opt for more monetary stimulus and a European Central Bank policy meeting next week. Nikkei is up 37 points at 9,070.

Back home, BSE healthcare index has managed to gain 0.5% at 7,435. However, BSE auto index has slipped 1.3% at 9,346. Metal, realty, oil & gas indices are down over 1% each.

Technology major Infosys has slipped 1% at Rs 2,401. Software exporters continued to witness profit taking at higher levels after gains last week and ahead of key US economic data due for release this week. Infosys, Wipro and TCS earn most of their revenues from exports to the US.

From the Auto space, Bajaj Auto is down 4%. Sterlite, BHEL, Hero Motocorp and Hindalco are down 1-4.5% each.

Oil and Natural Gas Corporation (ONGC) is trading lower by 2.2% at Rs 276, extending its previous day’s 2% fall after the Comptroller and Auditor General (CAG) damned the state-owned oil exploration firm for lack of focus on exploration, inefficient operations and tardy pace of developing new oil and gas finds.

On the gaining side, Tata Power is the top Sensex gainer, up almost 2.7% in otherwise subdued market after the Maharashtra Electricity Regulatory Commission increased fuel adjustment cost ceiling to 20% from 10%.

Meanwhile, BSE Midcap and BSE Smallcap indices are trading down 0.3% each at 5,977 and 6,400, respectively. The market breadth in BSE remains negative with 1,483 shares declining and 1,024 shares advancing.

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Sensex

Company Price Gain (%)
Hindalco Inds.141.304.40
Tata Motors428.654.24
ICICI Bank1,262.003.25
B H E L181.053.10
St Bk of India2,017.802.96

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