Mid Session Market

The market is trading strong with significant gains. The strong buying is seen in the Capital Goods and Metal stocks. All the key indices are trading in green with an exception of FMCG index which is trading marginally lower. The overall market breadth is positive 1441 stocks are advancing while 1160 stocks are declining on BSE.

At 12.42 pm, BSE Sensex was at 18,574.01 up by 293.77 points while Nifty was at 5,421.25 up by 94 points. The Mid cap is higher by 110.13 points at 7,508.83 and the small Cap advanced by 82.49 points to trade at 9,059.25.

BSE Capital goods index advanced 513.32 points to 16,447.76. The main gainers are L&T (7.11%), Suzlon Energy (3.46%), BHEL (2.50%) and Siemens (1.28%).

BHEL has won a Rs.394 Crore turnkey contract for setting up a 67.5 MW captive power plant at Vizag steel plant in Andhra Pradesh.

BSE Metal index improved 255.31 points to trade at 14,336.24. The major gainers are Hindalco Industries (3.05%), Tata Steel (2.03%), SAIL (1.94%) and Sterlite Industries (1.90%).

BSE Oil & Gas index was trading 140.26 points higher at 10,575.43 as RPL (5.59%), Essar Oil (2.38%), ONGC (2.03%) and GAIL (0.26%) are trading in green.

BSE Banks index increased by 141.04 points to trade at 9,414.45. The main gainers are ICICI Bank (1.53%), PNB (1.38%), SBI (0.90%) and HDFC Bank (0.28%).

SBI has got the approval from the government to raise capital up to Rs.10,000Crore by March 2008.

BSE IT index up by 66.21 points to trade at 4,956.39 as Tech. Mahindra (5.61%), Infosys (1.37%), TCS (1.19%) and Satyam (0.21%) are trading higher.

BSE Auto index enhanced 28.74 points to trade at 5,457.08. Leading to the gain are Appolo Tyres (4.56%), Tata Motors (1.70%), Mahindra & Mahindra (1.49%) and TVS Motors (1.36%).

Tata Motors is planning to launch new cars in 2007-08 in order to increase the car sales in the domestic market.