Wednesday, January 23, 2008

Mid Session Market

The market continues to trade at higher level as significant buying witnessed across the board. The strong buying is seen in the Realty, Metal, Oil & Gas and Capital Goods stocks. The broader market is however trading in a cautious mode. The overall market breadth turns negative, as 1,090 stocks are advancing while 1,349 stocks are declining and the 21 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 466.28 points at 7,668.53 and the BSE small Cap advanced by 228.93 points to trade at 10,257.32.

At 12.32 pm, BSE Sensex was at 17,637.06 up by 907.12 points and Nifty was at 5,192.05 up by 292.75 points.

BSE Metal index surged 695.24 points to trade at 14,809.27. The major gainers are Hindalco Industries (5.37%), Sterlite Industries (4.99%), SAIL (4.64%) and Tata Steel (3.73%).

BSE Capital goods index advanced 555.73 points to 17,008.46. The main gainers are BHEL (8.63%), L&T (1.80%) and Siemens (0.11%).BHEL is trading higher as the company has bagged Rs.8.66 billion EPC contract from Reliance Industries. BHEL will set up a 365 MW gas-based captive power plant in Maharastra for RIL.

BSE Oil & Gas index was trading 673.78 points higher at 10,648.56 as RPL (14.29%), Cairn (8.15%), GAIL India (6.14%) and ONGC (3.65%) are trading in green.

BSE Banks index grew by 346.86 points to trade at 10,505.21. The top gainers are Indian Overseas (15.20%), Andhra Bank (13.06%), Union Bank (13.38%) and PNB (9.12%) are trading higher.

BSE Power index improved by 225.31 points to trade at 3,816.14 as Torent Power (17.32%), Power Grid (10.06%), NTPC (8.08%), GVK Power (7.41%) and Reliance Energy (6.32%) are trading in green.BSE Auto index increased by 139.59 points to trade at 4,615.15. Leading to its gain are Bajaj Auto (5.75%), Mahindra & Mahindra (2.62%), Maruti Suzuki (1.61%), Hero Honda (1.18%) and Tata Motors (0.77%).

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