Friday, 10 April 2015

Market languishes in red

The CNX Midcap and the Smallcap indices are up 0.7% each at 13,630 and 6,014, respectively. 

The market continues to languish in red on the back of notable weakness in select banking, FMCG and pharma stocks.

The Sensex is now down 84 points at 28,802, and the Nifty has shed 31 points at 8,747.

The broader market, however, has out-performed the benchmark indices. The CNX Midcap and the Smallcap indices are up 0.7 percent each at 13,630 and 6,014, respectively.

The breadth too is fairly positive - out of 1,720 stocks traded on the NSE, 925 have advanced and 552 have declined so far in the day.

The CNX Pharma index has dropped a percent at 13,400. Cipla down over 3 percent at Rs. 697 is the major loser in the Pharma space.

Cadila Healthcare and Lupin have plunged 2.5 percent each to Rs, 1,797 and Rs. 1,965, respectively. Sun Pharma is the other notable losers.

Apart from the pharma majors - Zee Entertainment is the major loser in the Nifty050. The stock has slipped 2.5 percent to Rs. 348.

Tech Mahindra has declined nearly 2 percent to Rs. 658. HDFC Bank, Hindalco, Asian Paints, ITC and TCS are the other major losers.

On the positive front, Idea Cellular is the major gainer. The stock has surged 3 percent to Rs. 193. Sesa Sterlite too has rallied 2.7 percent to Rs. 200.

SBI, NMDC, IDFC and Punjab National Bank have rallied around 2 percent each to Rs. 287, Rs. 135, Rs. 176 and Rs. 165, respectively.

Bank of Baroda, BHEL and Tata Power are the other prominent gainers.

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