Mid Market Session

The BSE Sensex remains firm with revived buying interest amidst good quarterly results from the Capital goods and Banking Sector. Now the fundamental news is keeping the momentum high. After facing a sheer selling pressure in the previous days, the market seems to be buoyant with new buying interest apart form profit booking. The broader market is also moving ahead along with the bench mark index toady as the BSE mid cap is higher by 220.65 points at 7,484.06 and small cap advanced by 262.05 points to 9,113.52.

The overall market breadth looks very strong and positive as 2018 stocks are advancing while 550 stocks are declining on BSE.

At 12.31 pm, BSE Sensex was up by 642.28 points at 18,256.27 while Nifty was high by 218.35 points at 5,402.35.

BSE Capital goods index gained by 1,048.63 points to 16,617.39. Suzlon is gaining 12.92% at Rs1789.90 .The Company has posted a net profit of Rs. 355.58cr during Q2FY08 with a remarkable gain of 40.27% over Rs. 253.49cr of Q2FY07. Total Income surged 32.39% at Rs. 1718.73cr as against Rs 1298.15cr during the corresponding period of the previous year. The company is also planning to split its shares from the face value of Rs. 10 to Rs. 2 per share.

BSE Banks index has gained by 99.87 points to trade at 8,937.42. HDFC Bank and ICICI Bank are moving high at Rs. 1,1464.95 (6.74%) and Rs1,1099.00 (3.45%) respectively. The banking sector has stunned the market with good growth and astounding figures in the top and bottom line. HDFC bank has recorded a staggering growth of 44.45% in Interest earned at Rs. 23,62.76cr. Besides that the net profit of the bank has grown phenomenal by 40.14% at Rs. 3,68.48cr YoY.

BSE Metal index gained by 724.33 points to trade at 15,157.05. Jindal steel is moving ahead with a gain of 11.11% at Rs 7,209. Sesa Goa Ltd is up with a gain of 9.05% at Rs 3,044.80, as the scrip was beaten badly during the previous trading days.