Monday, February 4, 2008

Mid Session Market

The market has maintained its opening rally and is still trading strongly as heavy buying continued across the board. The broader market has also joined the rally and is trading higher. The significant buying witnessed in the Metal, Capital Goods, Realty and Oil & gas stocks. The overall market breadth remains extremely positive, as 2,204 stocks are advancing while 437 stocks are declining and the 44 stocks remained unchanged on BSE. The BSE Mid cap is higher by 283.62 points at 8,045.16 and the BSE small Cap advanced by 334.99 points to trade at 10,407.31.

At 12.32 pm, BSE Sensex was at 18,848.42 up by 605.84 points and Nifty was at 5,532.05 up by 214.80 points.

BSE Metal index surged by 589.28 points to trade at 16,499.44. The major gainers are Sterlite Industries (5.26%), Tata Steel (3.35%), SAIL (3.11%) and NALCO (2.15%).

BSE Capital goods index advanced by 519.51 points to 16,953.92. The main gainers are ABB (5.61%), BHEL (3.73%), Siemens (2.27%) and L&T (2.02%).

BSE Oil & Gas index was trading 404.36 points higher at 11,427.21 as BPCL (7.51%), ONGC (5.26%), Cairn India (4.90%), RPL (4.17%) and Gail India (1.90%) are trading in green.BPCL may hive off its bio diesel business into a separate company. The company is looking at entering the entire chain of the bio diesel production.

BSE Banks index advanced by 312.51 points to trade at 11,202.78. The top gainers are PNB (5.08%), SBI (3.98%), ICICI Bank (2%) and HDFC Bank (1.34%) are trading higher.

BSE Power index grew by 152.34 points to trade at 3,945.05 as Suzlon Energy (6.23%), Tata Power (4.92%), NTPC (3.88%) and Reliance Energy (2.38%) are trading in green.

BSE IT index inclined by 150.67 points to trade at 4,084.94 as TCS (5.16%), Wipro (4.32%), HCL Technologies (4.14%) and Satyam (4.04%) are trading in green.

BSE Auto index increased by 116.92 points to trade at 5,121.79. Leading to its gain are Mahindra & Mahindra (3.13%), Tata Motors (2.52%), Hero Honda (2.34%) and Bajaj Auto (1.67%).

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