From rise to down

From the yesterday's report of market recovery and green shots it was quite obvious to think og good future and corporate scorecard brings cheer sensex intra day movement was from 14843.12 rose to 15264.84. Car maker Suzuki at Rs.583.54 (25.3%), Bharti Airtel at a profit of Rs. 2517 crore
(17%), Aditya Birla at a profit of Rs.297.10 crore, Cigarette-to-hoteld conglomerate ITC rise of Rs.879 core (17.4).....
While today's market report uptill was below satisfactory with the Red color of sensex, which had plunged to 15,198.68 from a high of 15,418.61 earlier this morning, is currently down with a slender loss at 15,230.40. The Nifty is down 4.10 points at 4519.65. Earlier, after moving on to 4575.15 in opening trades, the Nifty had tumbled to 4514.50. little bit of relaxations are provided coming from the several midcap and smallcap stocks hold on in the positive territory with a significant portion of their early gains intact. The market breadth is fairly strong. Out of 2322 stocks seen in action on BSE, 1479 stocks are up with gains. 765 stocks have posted losses and 78 stocks trade flat.

With several blue chip stocks finding support hard to come by at higher levels, the benchmark indices Sensex and Nifty, which faltered after a rousing start, are seen struggling to make a headway now.

BSE : 15248.14 NSE :4530.50

The Sensex, which had plunged to 15,198.68 from a high of 15,418.61 earlier this morning, is currently down with a slender loss at 15,230.40. The Nifty is down 4.10 points at 4519.65. Earlier, after moving on to 4575.15 in opening trades, the Nifty had tumbled to 4514.50.

Realty and automobile stocks continue to hog the limelight. Consumer durables stocks have rallied after a somewhat subdued start. A few stocks from metal, information technology, capital goods and power sectors have posted sharp gains. PSU, pharma, oil, bank and FMCG stocks remain a bit subdued.

Meanwhile, several midcap and smallcap stocks hold on in the positive territory with a significant portion of their early gains intact. The market breadth is fairly strong. Out of 2322 stocks seen in action on BSE, 1479 stocks are up with gains. 765 stocks have posted losses and 78 stocks trade flat.

Maruti Suzuki remains the top gainer in the Sensex. At Rs 1346, the stock is up by nearly 4%. Strong quarterly results and expectations of higher sales in forthcoming quarters of this fiscal are driving the stock up north today. Tata Motors has gained close to 3.5% at Rs 352. Mahindra & Mahindra, which has eased a bit to Rs 813, is up by 1.4%.

DLF is up with a gain of 3.3%. Tata Steel, Sterlite Industries, BHEL, Hindalco, Jaiprakash Associates and Infosys Technologies are up by 1.5% - 3%. Tata Consultancy Services, Wipro, Tata Power and Reliance Communications are up with modest gains. NTPC is up marginally.

SAIL, Ambuja Cements, HDFC, Punjab National Bank and ITC have lost over 2%. ICICI Bank, Cipla, Reliance Infrastructure, HDFC Bank, State Bank of India, ONGC, Power Grid Corporation, Axis Bank and Siemens are also trading with sharp losses.

Among midcap stocks, Havells India, Phoenix Mills, HT Media, Amtek Auto, Tulip Telecom and Bharat Forge are up by 6% - 8%. Godrej Consumer Products, TV 18, MRF and BF Utilities are up by over 5%.

KEC International, Gujarat Petronet, EID Parry, GE Shipping, Bannari Amman Sugars, MphasiS, Monnet Ispat, Carborundum Universal and Rashtriya Chemicals & Fertilizers are also trading firm with impressive gains.