Thursday, January 17, 2008

Mid Session Market

The market has recovered from the day''s low as significant buying witnessed in the selective scrips mainly led by the Metal, Capital Goods and Consumer Durables stocks. The broader has outperformed the benchmark index today and is trading with significant gain. The overall market breadth remains positive, as 1,893 stocks are advancing while 774 stocks are declining and the 43 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 114 points at 9,381 and the BSE small Cap advanced by 241 points to trade at 12,763.

At 12.32 pm, BSE Sensex was at 19,848 down by 20 points whereas Nifty was at 5,958.95 up by 23.20 points.

BSE Capital goods index surged 334.16 points to 19,007.96. The main gainers are L&T (2.83%), Siemens (2.48%), BHEL (1.95%) and ABB (1.48%).

BSE Metal index grew by 184.65 points to trade at 18,204.90. The major gainers are NALCO (4%), Jindal Steel (3.68%), Ispat Industries (3.45%) and JSW Steel (2.43%).

BSE Power index advanced by 24.40 points to trade at 4,486.73 as Reliance Energy (2.36%), Power Grid (2.13%), Torent Powet (1.64%) and NTPC (1.41%) trading in green.

BSE IT index improved marginally by 5.05 points to trade at 3,887.93 as HCL Tech. (1.73%), Wipro (1.64%), Infosys (1.46%) and I-flex (0.72%) trading in green.

Infosys BPO a subsidiary of Infosys technologies was hoping to bag at least four outsourcing deals between $50million and $150mn each within the next six months.

BSE Health Care index increased by 35.18 points to trade at 4,160.58 as Glaxosmith (2.92%), Glenmark Parma (2.44%), Ranbaxy (1.51%) and Biocon (1.29%) are trading higher.

BSE Banks index dropped by 171.58 points to trade at 11,992.27. The top losers are ICICI Bank (2.57%), HDFC Bank (1.92%), AXIX Bank (1.89%), and Federal Bank (1.53%) are trading lower.

BSE Oil & Gas index was trading 110.55 points lower at 13,539.58 as Reliance (1.28%) and ABAN Off Shore (1.52%) are trading in red while Cairn (2.65%) and ONGC (1.98%) are trading higher.

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