Wednesday 25 March 2015

Nifty below 8,550 levels

The key indices are hovering around the previous close; ICICI Bank, DLF are the major gainers, while NTPC sags 3%.

National-Stock-Exchange
The market continue to consolidate in a narrow range, albeit a slightly negative bias.

At 3:04 PM, the S&P BSE Sensex is trading at 28,132 down 29 points, while NSE Nifty is trading at 8,539 down 4 points.

The broader market are trading on a mixed note. The CNX Midcap index has advanced 0.2 per cent to 12,894, and the Smallcap index has slipped 0.3 per cent to 5,468.

The breadth remains fairly weak - out of 1,709 stocks traded on the NSE, 954 have declined and 525 have advanced.

Among sectors, the CNX Energy, Infra and PSU Bank indices are the major losers - down around a per cent each. On the other hand, CNX Pharma index has gained 0.5 per cent at 12,922, and the Bank Nifty has added 0.3 per cent to 18,388.

DLF has jumped in the last one-hour of trades, and is now up 2.5 per cent at Rs. 164.

ICICI Bank has rallied over 2 per cent to Rs. 319. Mahindra & Mahindra and HCL Technologies have advanced 1.8 per cent each to Rs. 1,214 and Rs. 987, respectively.

Tata Motors has advanced 1.5 per cent to Rs. 540 after the board approved rights issue at Rs. 450 per share.

Sun Pharma, BPCL, Axis Bank and Cairn India are up over a per cent each.

NTPC has extended losses and is now down 3.3 per cent at Rs. 148. Gail India and Punjab National Bank have shed 2.5 per cent each at Rs. 380 and Rs. 158, respectively.

NMDC and Ambuja Cements have also slipped over 2 per cent each to Rs. 125 and Rs. 248, respectively.

A total of 119 stocks have dropped to a fresh 52-week low so far in the day while mere 10 stocks have touched a new 52-week high.

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