The market has further gained some momentum and has made a sharp turn from the day’s low as significant buying witnessed in the frontline indices. The IT< Oil & Gas, Metal and Bank stocks are the hot pursuits of the day. However, the broader market is trading flat as the BSE Mid Cap is trading marginally higher whereas the BSE Small Cap is still trading in red. The BSE Sensex is hovering around 16,000 mark and Nifty is around the 4,800 mark.
The overall market breadth is positive, as 1190 stocks are advancing while 1157 stocks are declining and the 58 stocks remained unchanged on BSE.
On the primary market front, Gammon Infrastructure has listed at Rs 180 on the BSE and Rs 170 on NSE. The company had priced the initial public offer (IPO) at Rs 167. The price band range between Rs 167 - Rs 200 price band. The IPO which ended on 13 March 2008, was subscribed 3.48 times. The qualified institutional buyers (QIBs) portion was subscribed 5.16 times, the non-institutional investors portion was subscribed 3.78 times and the retail portion was subscribed 1.08 times.
The BSE Mid cap is higher by 6 points at 6,419 while the BSE small Cap slipped by 20 points to trade at 7,892.
At 12.50 pm, BSE Sensex was at 15,981 up by 231 points and Nifty was at 4,820.90 up by 66.70 points.
BSE Oil & Gas index was trading 235.04 points higher at 10,563.12 as ONGC (3.55%), Cairn India (3.15%), RPL (1.82%) and GAIL India (0.92%) are trading in green.
BSE Health Care index inclined by 0.87 points to trade at 3,863.70 as Dr.Reddy (3.24%), Sun Pharma (2.65%), Nicholas Piramal (0.32%), Cadila Healthcare (0.46%) and Ranbaxy (0.06%) are trading in positive.
Sun Pharmaceuticals has launched Amifostine injection, a generic version of Medlmmune Oncology Inc. 500mg Ethylon injection in US. Amifostine will be used for the reduction of kidney damage in patients who have advanced ovarian cancer and are being given repeated doses of cisplatin.
BSE Capital goods index dropped by 235.17 points to 13,262.98. The main losers are BHEL (2.73%), ABB (1.97%), Bharat Electrical (1.81%) and Crompton Greaves (0.40%).
BSE Banks index advanced by 47.46 points to trade at 7,870.02. The top gainers are Oriental Bank (3.42%), HDFC Bank (2.55%), Andhra Bank (1.82%) and ICICI Bank (1.12%).
BSE Power index decreased by 51.66 points to trade at 3,085.46 as Suzlon Energy (4.50%), Torent Power (1.85%) and Reliance Energy (1.88%) are trading in negative.
BSE IT index grew by 91.12 points to trade at 3,735.47 as Wipro (2.17%), HCL Technologies (1.62%), Infosys Technologies (1.42%) and TCS (1.29%) are trading in green.
Wipro is expanding its special economic zone in Chennai over the next three years and this was as a part of expanding its footprint in various key verticals like pharma, retail, automotive, life sciences and financial services.
TCS will invest Rs900 crore in Pune to create capacity of 20,000 seats over the next three years. The company has started the construction of its largest development centre at the TCS Sahyadri Park in Pune.
BSE Auto index declined by 11.10 points to trade at 4,528.42. Leading to its gain are Maruti Suzuki (2.65%), Exide Industries (1.01%), Tata Motors (0.82%) and Appollo Tyre (0.61%).
Mahindra & Mahindra is trading higher by (0.56%). The company along with the private equity firm ICICI Venture Funds has signed an agreement to buy Italian gear manufacturer Metalcastello.
BSE Metal index increased by 161.43 points to trade at 13,678.32. The major gainers are Hindalco Industries (1.81%), Sterlite Industries (1.12%) and NALCO (1.11%).
The overall market breadth is positive, as 1190 stocks are advancing while 1157 stocks are declining and the 58 stocks remained unchanged on BSE.
On the primary market front, Gammon Infrastructure has listed at Rs 180 on the BSE and Rs 170 on NSE. The company had priced the initial public offer (IPO) at Rs 167. The price band range between Rs 167 - Rs 200 price band. The IPO which ended on 13 March 2008, was subscribed 3.48 times. The qualified institutional buyers (QIBs) portion was subscribed 5.16 times, the non-institutional investors portion was subscribed 3.78 times and the retail portion was subscribed 1.08 times.
The BSE Mid cap is higher by 6 points at 6,419 while the BSE small Cap slipped by 20 points to trade at 7,892.
At 12.50 pm, BSE Sensex was at 15,981 up by 231 points and Nifty was at 4,820.90 up by 66.70 points.
BSE Oil & Gas index was trading 235.04 points higher at 10,563.12 as ONGC (3.55%), Cairn India (3.15%), RPL (1.82%) and GAIL India (0.92%) are trading in green.
BSE Health Care index inclined by 0.87 points to trade at 3,863.70 as Dr.Reddy (3.24%), Sun Pharma (2.65%), Nicholas Piramal (0.32%), Cadila Healthcare (0.46%) and Ranbaxy (0.06%) are trading in positive.
Sun Pharmaceuticals has launched Amifostine injection, a generic version of Medlmmune Oncology Inc. 500mg Ethylon injection in US. Amifostine will be used for the reduction of kidney damage in patients who have advanced ovarian cancer and are being given repeated doses of cisplatin.
BSE Capital goods index dropped by 235.17 points to 13,262.98. The main losers are BHEL (2.73%), ABB (1.97%), Bharat Electrical (1.81%) and Crompton Greaves (0.40%).
BSE Banks index advanced by 47.46 points to trade at 7,870.02. The top gainers are Oriental Bank (3.42%), HDFC Bank (2.55%), Andhra Bank (1.82%) and ICICI Bank (1.12%).
BSE Power index decreased by 51.66 points to trade at 3,085.46 as Suzlon Energy (4.50%), Torent Power (1.85%) and Reliance Energy (1.88%) are trading in negative.
BSE IT index grew by 91.12 points to trade at 3,735.47 as Wipro (2.17%), HCL Technologies (1.62%), Infosys Technologies (1.42%) and TCS (1.29%) are trading in green.
Wipro is expanding its special economic zone in Chennai over the next three years and this was as a part of expanding its footprint in various key verticals like pharma, retail, automotive, life sciences and financial services.
TCS will invest Rs900 crore in Pune to create capacity of 20,000 seats over the next three years. The company has started the construction of its largest development centre at the TCS Sahyadri Park in Pune.
BSE Auto index declined by 11.10 points to trade at 4,528.42. Leading to its gain are Maruti Suzuki (2.65%), Exide Industries (1.01%), Tata Motors (0.82%) and Appollo Tyre (0.61%).
Mahindra & Mahindra is trading higher by (0.56%). The company along with the private equity firm ICICI Venture Funds has signed an agreement to buy Italian gear manufacturer Metalcastello.
BSE Metal index increased by 161.43 points to trade at 13,678.32. The major gainers are Hindalco Industries (1.81%), Sterlite Industries (1.12%) and NALCO (1.11%).
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