Mid Session Market

The market is now trading higher as significant buying witnessed in the Capital Goods, Power, Oil & Gas and Realty stocks. The BSE Mid Cap and Small Cap stocks are trading with firm with significant gains. The market reacted minutely to the inflation numbers that came out today. The wholesale price index rose to 7.41% in 12 months to 29 March 2008, from the previous week''s annual rise of 7%. The analyst were expecting of 7%-7.2%. The rate is the highest reading since 13 November 2004.

The overall market breadth is positive, as 1621 stocks are advancing while 818 stocks are declining and the 66 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 59 points at 6,538 and the BSE small Cap advanced by 66 points to trade at 8,097.

At 12.30 pm, BSE Sensex was at 15,950 up by 255 points and Nifty was at 4,815.55 up by 82.55 points.

BSE Oil & Gas index was trading 170.66 points higher at 10,897.40 as Cairn India (3.32%), Gail India (2.11%), RPL (1.70%) and BPCL (1.54%) are trading in green.
BPCL is trading higher by (1.88%) at Rs394.75. The company is planning to take non-petroleum revenue to a new level by setting up highway fuel station integrated with cinema halls and restaurants. It is keen to expand its non-petroleum business from the current turnover of Rs550 crore to touch Rs1,500 crore by 2011.

BSE Capital goods index surged by 266.15 points to 13,165.28. The main gainers are Siemens (3.17%), L&T (2.34%), BHEL (2.04%) and ABB (1.46%).

BSE Metal index grew by 17.05 points to trade at 13,872. The major gainers are Hindalco Industries (2.19%), Jindal Steel (2.31%), Sterlite Industries (1.24%) and Nalco (0.78%).

BSE Banks index dropped by 9.58 points to trade at 7,42.02. The top losers are Yes Bank (2.88%), Bank of India (1.27%), Canara Bank (0.69%), Andhra Bank (0.90%) and Axix Bank (0.30%).

BSE Health Care index inclined by 3.74 points to trade at 3,926.30 as Dr. Reddy (2.76%), Divi’s Lab (1.84%), Glaxosmith (0.62%) and Cipla (0.65%) are trading in positive.

BSE Power index increased by 57.85 points to trade at 3,157.88 as Tata Power (4.45%), GVK Power (4.41%), Reliance Energy (2.76%) and Suzlon Energy (2.52%) are trading in positive.
Tata Power is trading higher by (3.25%) at Rs1238 as the company will set up 30mw gas based power plant in Haldia to meet the requirements of Hooghly Met Coke & Power plants. This is a part of company’s plans to set up 120 mw gas based generation units with an investment of Rs500 crore in Haldia.

BSE IT index grew by 2.47 points to trade at 3,679.10 as I-flex (8.02%), Satyam Computer (2.73%), TCS (2.08%), Wipro (1.32%) and Tech Mahindra (0.25%) are trading in green.
TCS is trading up by (1.67%) at Rs915 as the company has signed a new multi-year contract with car manufacturer Chrysler to provide a portfolio of IT services. The company will deliver IT application and maintenance support services to Chrysler. It also involves several functional areas such as sales & marketing, shared services, product development and after sales.

BSE Auto index inclined by 22.79 points to trade at 4,425.91. Leading to its gain are Mahindra & Mahindra (1.27%), Maruti Suzuki (0.91%) and Tata Motors (0.79%).

BSE Realty index increased by 70.01 points to trade at 7,286.41. Leading to its gain are Mahindra Life (2.90%), Purvankara (2.12%) and Unitech (1.20%).