Thursday, July 2, 2009

India share market July 2 2009

The Bombay Stock Exchange had some technical problem which affected the trading session. In the morning session, circuit limit of 100 stocks stopped working. It happened due to a “technical glitch” for three to four hours. Later, BSE removed the circuit filters. Shares of Assam Co. had an upper circuit of Rs.15.31 and lower circuit of Rs.13.19 but due to this technical problem the stock price went up to Rs.77.20 at 3.06pm. In the morning, traders were at a loss looking at the circuit limits. Some traders bought stocks at those prices which were also accepted by the server but after rectifying the problem, nobody could not say what would happen to those transactions. This incident cast a doubt among traders regarding the abilities of the BSE administration.

Sensex opened up at 14,694 points. Immediately, after the Economic Survey of FY 09 was presented at the parliament today, Sensex went to a high of 14,764 points but at the end of the day’s trading session it ended in red as the latest jobless data was released in the U.S. The Sensex saw an intra-day high of 14,764 points and a low of 14,469 points. It closed at 14,658 points. Traders are not buying too much stocks as the time for the first budget is drawing closer.

In terms of trading, BSE was positive as prices of 1459 stocks advancedand 1141 slipped. In total, 2,692 stocks were traded today.

At the BSE metals, realty and pharma stocks observed a price rise. The BSE metal index went up 2% led by Tata Steel, Jai Corp. and SAIL. Prices of these three stocks went up by more than 3.7%. The realty index rose 1.5% and BSE Pharma Index rose 0.8%. After announcing a price hike, oil and gas stocks also surged up. GAIL and ONGC stocks gained more than 7%. However, the BSE capital goods index fell 1% and the auto index fell 0.9%.

At BSE, stocks that observed major gains are:

ONGC rose 7% to Rs 1,126.

Tata Steel


Sterlite Industries

Stocks whose prices tumbled are:

BHEL slipped 3 per cent to Rs 2,149.

RIL fell 2.3 per cent to Rs 2,149.

The Nifty at the NSE observed an intra-day high of 4,348 points and a low of 4,289 points. It closed at 4,349 points.

Related articles:

The Economic Times


Business Standard

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