Tuesday, April 22, 2008

Mid Session Market

The market is trading flat from the opening trade. The selective buying is seen in the Mid Cap and Small Cap stocks. However, the frontline stocks are facing slight selling pressure today. The IT, Oil & Gas and Consumer Durables stocks are facing some profit booking. While the buying interest is seen in the Realty, Bank and Metal stocks.

On the primary market front, Kiri Dyes and Chemicals listed at Rs 184 as against its issue price of Rs 150.

The overall market breadth is positive, as 1429 stocks are advancing while 1067 stocks are declining and the 59 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 28.49 points at 7,011.75 and the BSE small Cap advanced by 41.68 points to trade at 8,794.51.

At 12.30 pm, BSE Sensex was at 16,722.05 down by 17.28 points and Nifty was at 5,030.50 down by 6.50 points.

BSE Metal index advanced by 151.70 points to trade at 15,366.39. The major gainers are Bhushan Steel (4.15%), Jindal Steel (4.38%), JSW Steel (3.51%) and NALCO (3.68%).

BSE Capital goods index surged by 179.49 points to 13,848.88. The main gainers are L&T (1.92%), BHEL (1.89%), ABB (1.02%) and Praj Industries (0.46%).
BHEL has won orders worth Rs2030 crore for the supply and installation of the main plant package at 1000mw Nabinagar Thermal Power Plant project in Bihar. The order was placed by Bharathiya Rail Bijlee Company Limited.

BSE Oil & Gas index was trading 12.44 points lower at 11,504.54 as Cairn India (1.98%), BPCL (1.18%), Essar Oil (1.63%) and Indian Oil (0.73%) are trading in red.

BSE Banks index improved by 105.43 points to trade at 8,686.15. The top gainers are AXIX Bank (3.98%), ICICI Bank (2.25%), Kotak Bank (1.52%) and Indian Overseas (1.37%).

BSE IT index fell by 179.40 points to trade at 3,928.74 as TCS (9.45%), HCL Technologies (5.40%), Satyam Computer (5.14%) and Wipro (5.01%) are trading in red.

BSE Realty index increased by 148.19 points to trade at 7,823.96. Leading to its gain are Penland (9.47%), Ansal Infrastructure (5.87%), Unitech (2.63%) and India Bull Real (2.10%).

BSE Power index increased by 33.69 points to trade at 3,314.98 as Torent Power (3.40%), Power Grid (2.31%), NTPC (1.98%) and Reliance Energy (1.39%) are trading in positive.
NTPC and BHEL will invest Rs50 million to form a joint venture company to carry out engineering, procurement and construction contracts for power plants and other infrastructure projects.
Reliance Energy’s shareholders have approved the buyback of shares along with change in name and waiving the company’s entitlement to receive bonus shares, which was proposed by Reliance Power.

BSE Auto index inclined by 9.34 points to trade at 4,557.42. Leading to its gain are Tata Motors (1.41%), MRF (0.78%) and Hero Honda (0.26%).
Hero Honda has hiked prices of its products between Rs 500 and Rs 1000 in most of its models, including Splendor Plus, Passion Plus, CBZ, Ambition and Hunk.

BSE Health Care index inclined by 14.23 points to trade at 4,175.50 as Glenmark Pharma (4.50%), BIOCON (3.37%), Aurobindo Pharma (2.63%) and Sun Pharma (1.01%) are trading in positive.

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