The market has lost further grounds on account of huge selling pressure continued in the selective scrips. The broader market is trading flat today as the Mid Cap is trading marginally lower while the Small Cap managed to trade in green. The Capital Goods, Oil & Gas, Bank and IT stocks are out of favor today while the sustained buying is seen in the Metal, FMCG and Realty stocks. The overall market breadth turns negative, as 1219 stocks are advancing while 1299 stocks are declining and the 57 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 40 points at 6,231 while the BSE small Cap advanced by 12 points to trade at 7,451.

At 12.30 pm, BSE Sensex was at 15,899 down by 188 points and Nifty was at 4,789.90 down by 38.95 points.

BSE Metal index inclined by 17.05 points to trade at 13,762.23. The major gainers are Gujarat NRE (6.35%), Hindalco Industries (5.07%), NALCO (4.02%) and Bhusan Steel (1.10%).

BSE Capital goods index dropped by 172.84 points to 13,621.20. The main losers are Siemens (2.75%), BEML (2.48%), Bharat Electrical (1.91%) and Havells India (2.70%).

BSE Banks index slipped by 147.69 points to trade at 8,154.11. The top losers are AXIX Bank (3.70%), Bank of India (2.92%), Yes Bank (1.65%) and HDFC Bank (1.54%).

BSE Health Care index inclined marginally by 0.75 points to trade at 3,738.26 as Sun Pharma (2.52%), Cipla (1.58%), Lupin (1.29%), Glaxosmith (1.90%) and Pfizer (0.43%) are trading in positive.

Sun pharmaceuticals has received the USFDA approval for the abbreviated new drug application to market a generic version of forest Lab’s Tessalon, benzonatate capsules.

Cipla has developed a combination of drugs including the medicines for allergic rhinitis, asthama and cardiac-problems for the developed markets. The company expects to bring the allergic rhinitis drug into the market next year and the other two combination drugs in the asthama and cardiac are expected by 2010.

[Via]

The Stock market nowadays in opens with a serious gap downward on the back of sharp negative cues as of the global markets. The serious selling emerges across the board mostly led by the vanguard line stock. The real estate, Oil & Gas and Capital Goods stocks in the hardest hit in the breach trade.
The in general marketplace width is unenthusiastic as 661 stock are advance whereas 1,634 stock are on the way out on BSE.
At, the BSE Sensex was down by 224.05 points at 19,476.77 and the Nifty was down by 67.65 points to 5,845.55.
The BSE Mid Cap decreased by 86.88 points to 9,253.13 and the BSE Small Cap slipped by 148.76 points to 12,591.53.
Ranbaxy Laboratories Ltd. reported the top gainer from the BSE Sensex pack. It was up by (1.78%) at Rs.374.45 while HDFC Bank the top loser declined by (3.01%) at Rs.1,597.50.

BSE Realty index dropped by 281.87 points to trade at 12,481.32. The top losers are Indiabull Real declined by (2.69%) to Rs.679, Unitech decreased by (2.19%) at Rs.479.45, Omaxe fell by (2.30%) to Rs.442 and DLF trading with a loss of (2.28%) at Rs.1,061.
Via

The life insurance sector is hoped in the direction of grow by approximately 30 per cent in this economic year. It had seen a enlargement of 95 per cent in the previous fiscal. The sum existence best profits determination cross the Rs 2 lakh crore smudge by the end of this economic as compare with in Rs 1.5 lakh crore in the last quarter ended. The non-life section is future to grow by 15 per cent to Rs 29,000 crore in the same period compared with Rs 25,600 crore a year ago. Insurance Regulatory Development Authority (Irda) said that last year’’s exceptional growth was due to broadening of the base following de-tariffing.

Via

T religious World Ltd has knowledgeable that the meeting in Board of Directors of this Company will be held on January 04, 2008, to think and make a decision on the next:

1. To fix evidence day for the reason of consolidation of obtainable evenhandedness share of countenance worth of Rs 2/- every to evenhandedness share of countenance value of Rs 10/- each.

2. To think the cause particular subject of fully flexible warrants to the promoter and to take up events linked thereto.They are reported in batter excellent result in last quarter ended.