Inflation figures led the market to tumble down further
The market tumbles down due to weak cues from the global markets as well as the weekly inflation figures that rose to the highest mark of 7% in three years for the week ended March 22 as against 6.68% last week. This led to the negative sentiments among the investors. Among the Sensex pack, 29 stocks are trading in red while only Ranbaxy laboratories is trading in green.
At 1.30PM, the BSE Sensex is trading lower by 461 points at 15,372 and NSE Nifty is trading down by 121.85 points at 4,649.75.
The BSE Mid Cap and Small Cap are trading lower by 111.90 points and 115.99 points at 6,275.33 and 7,724.30 respectively.
Top losers from the NSE Nifty are Bhel trading down by 6.44% at Rs1644 along with L&T by 5.76% at Rs2682, Nalco by 5.57% at Rs424, Tata Power by 5.42% at Rs1100, M&M by 4.96% at Rs613, Wipro by 4.82% at Rs415, HDFC by 4.5% at Rs2335, ABB by 4.3% at Rs1090 and Reliance Energy by 4.29% at Rs1138.
The Realty index is trading lower by 186.66 points at 7,336.66. Pulling it are HDIL trading down by 4.40% at Rs635 along with Unitech by 3.31% at Rs266, Penland by 3.15% at Rs89.20, DLF by 2.71% at Rs606.85, Ansal infra by 2.44% at Rs146, Phoenix mill by 1.67% at Rs375 and Indbul Real by 1.32% at Rs491.45.
The IT index is trading down by 99.40 points to 3,665.51 as Wipro is trading lower by 4.53% at Rs415.60 followed by HCL Tech by 3.34% at Rs241.45, Infosys by 2.95% at Rs1476.70, TCS by 2.81% at Rs861.05, Rolta India by 2.57% at Rs282 and Patni Computers by 2.41% at Rs233.
Suzlon Energy is trading higher by (1.1%) at Rs275 as the company’s US based arm has secured a contract from a local company in that country for the supply of 200 mw of wind turbine capacity. The order constitutes of delivering S88-2.1 mw wind turbines to various ready to build sites across the United States.
Hero Honda is trading up by (0.93%) at Rs757 as the company has reported 15% growth in sales for the month of March 2008. The company sold 3,20,594 units in March 2008 against 2,77,915 units in March 2007. The company sold 33,37,142 units as compared by 33,36,756 in 2007.
