Mid Market Session

The market looks firm after some volatility in the morning. The investors are however little cautious ahead of the Federal Bank''s decision today. The selling pressure dominated the market yesterday after the CRR hike by RBI. However little stability could be seen now as the fund houses have shown fresh buying across the blue chip stocks. The Mid cap is higher by 138.97 points at 8,187.04 and small cap gains by 183.85 points to 9,828.29.

The overall market breadth looks positive as 1573 stocks are advancing while 1046 stocks are declining on BSE.

At 12.33 pm, BSE Sensex is up by 175.33 points at 19,958.84, while Nifty gains 80.6 points at 5949.35.

In NSE the leading stocks are Sterlite, Unitech and Reliance Energy with a gain of 5.58%, 5.35% and 5.2% at Rs. 1078, Rs. 394 and Rs. 1881 respectively.

BSE Metal index is gaining by a striking 518.21 points at 17,820.43. Sterlite, Sesa Goa and Jindal Steel are moving up by 6.67%, 5.15% and 4.67% at Rs. 1,089.50, Rs. 3,820 and Rs. 9,900.95 respectively. This sector has shown good quarterly numbers and the important fact is the rising metal prices across the globe because of huge industrial demand.

BSE Realty is soaring up by 224.65 points at 10,741.64. Unitech Ltd recorded a phenomenal quarterly result with a growth of 38% in net profit at Rs. 138cr from Rs. 100cr in the corresponding period of the previous year. The company also plans to sell 20cr shares of Rs2 face value to raise $1.9 billion, as it is optimistic about a huge growth prospect of real estate business in India. At present, Unitech is gaining by 3.54% at Rs. 387.65.

BSE Bankex is moving ahead by 157.43 points at 10,707.52. The selling pressure on the banking stocks yesterday because of the CRR hike by RBI is now easing off as we can see some fresh buying now. Bank of India, Canara Bank and SBI are gaining by 3.31%, 3.27% and 2.65% at Rs. 337.15, Rs. 295.05 and Rs. 2,116.90 respectively.