Market Updates
Sensex down on Weak IT Stocks
Ivaylo
04 Jun, 2007
New York City
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The benchmark index opened with a positive bias on strong cues from global markets, but slid into negative territory in early afternoon trading as selling pressure appeared at higher levels. The sustained upward run of the rupee hurt IT stocks as it directly impacts their export-oriente revenues.The market-breadth was positive in the morning session but turned negative in the early afternoon session.
[R]5:30AM NY-4:30PM Mumbai Sensex trades in the red on Monday on selling pressure.[/R]
In early afternoon deals, the Sensex on BSE is trading 28 points down at 14,543.
Advancers
Hindalco has soared 5% to Rs 148, following robust global copper prices. SBI has surged 2.6% to Rs 1,414. ITC has surged over 2% to Rs 165, and Dr.Reddy''s has advanced 1.5% at Rs 658. Reliance Comms has rallied over 1% to Rs 512, while HDFC is also 1% higher to Rs 1,884.
Decliners
Tata Motors is the worst performing stock in the Sensex and has plummeted 4.6% to Rs 713. Tata Motors sales fell 4% to 42,558 units May 2007. BHEL has shed 2.5% to Rs 1,380. Satyam and Cipla have lost around 2% each toRs 469 and Rs 220, respectively. Wipro has lost around 1.4% to Rs 536. Infosys was down 0.8% to Rs 1,925.
Annual Returns
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