Tuesday, February 26, 2008

Mid Session Market

The market continues to trade in the positive territory, as significant buying witnessed across the board mainly led by the stocks like Realty, Capital Goods, Metal and Bank stocks. The broader market has outperformed the benchmark index till day''s trading as strong buying witnessed in the Mid Cap and Small Cap stocks. The overall market breadth remains positive, as 1602 stocks are advancing while 923 stocks are declining on BSE. The BSE Mid cap is higher by 94.58 points at 7,688.99 and the BSE small Cap advanced by 102.56 points to trade at 9,628.84.

At 12.31 pm, BSE Sensex was at 17,731.92 up by 81.35 points and Nifty was at 5,233.45 up by 32.75 points.

BSE Capital goods index surged by 190.28 points to 15,990.55. The main gainers are BEML (3.63%), Praj Industries (2.24%), Punj Lloyd (1.35%) and BHEL (0.88%).

BSE Metal index improved by 152.05 points to trade at 16,682.21. The major gainers are Gujarat NRE (3.33%), Jindal Stainless (2.17%), Jindal Saw (1.77%), SAIL (1.44%).SAIL ihas inked shareholder''s agreement with Jaypee associates to form a joint venture company for manufacturing cement at Bokaro.

BSE Banks index advanced by 127.62 points to trade at 10,240.76. The top gainers are Bank of India (3.58%), HDFC Bank (1.94%), Oriental Bank (1.16%), Kotak Bank (0.78%).

BSE IT index inclined by 38.64 points to trade at 4,031.18 as HCL Technologies (3.33%), I-Flex (1.51%), Infosys Technologies (1.38%) and TCS (0.97%) are trading in green.

BSE Oil & Gas index was trading 85.29 points higher at 11,142.67 as Indian Oil (3.34%), Cairn India (3.30%), BPCL (2.39%) and ONGC (2.13%) are trading in green.Cairn India has got the approval from Empowered Committee of Secretaries (ECS) on Monday to lay $800mn pipeline for transporting oil from its Rajasthan fields and recovering the cost through sale of crude.

BSE Power index increased by 62.78 points to trade at 3,673.96 as Reliance Energy (3.39%), Suzlon Energy (3.10%), Power Grid (0.93%) and GVK Power (0.88%) are trading in green.

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