The market is still trading higher as strong buying continued across the board. The inflation numbers for the week ended April 19 2008 came in higher than market expectation. The inflation stood at 7.57% versus 7.33%. It is at a 42-month high. The significant buying witnessed in the Bank, Auto, Power and IT stocks. However, the Metal stocks are feeling the selling pressure. The Mid Cap and Small Cap stocks have maintained their opening gains and are trading higher.
The overall market breadth is positive, as 1501 stocks are advancing while 993 stocks are declining and the 82 stocks remained unchanged on BSE.
The BSE Mid cap is higher by 100.20 points at 7,238.94 and the BSE small Cap advanced by 62.22 points to trade at 8,835.79.
At 12.30 pm, BSE Sensex was at 17,525.82 up by 238.51 points and Nifty was at 5,217.05 up by 51.15 points.
BSE IT index grew by 82.13 points to trade at 4,344.06 as HCL Technologies (3.62%), Satyam Computer (3.18%), Wipro (3.08%) and TCS (2.44%) are trading in green.
TCS has bagged an eight year end to end IT application services contract worth of Rs454 crore from Scottish Water, a UK based firm. As per this contract, the company will consolidate Scottish Water’s existing applications and transform information management to enhance delivery of IT services to the business.
BSE Auto index improved by 117.38 points to trade at 4,843.38 as Maruti Suzuki (5.57%), Mahindra & Mahindra (4.16%) and Tata Motors (3.92%) are trading in positive.
Maruti Suzuki has reported a 22% growth in its sales for the month of April, 2008. Maruti Suzuki India Limited sold 59,539 vehicles in the domestic market in April 2008, while the company had sold 48,652 vehicles in the domestic market in April 2007.
Mahindra and Mahindra has inked two movie co-production deals. The company would invest in Sunil Shetty’s production project- Mumbai Chakachak and would also invest in a global English movie.
BSE Capital goods index advanced by 183.23 points to 14,114.18. The main gainers are Siemens (1.61%), L&T (1.29%), BHEL (1.21%) and ABB (0.79%).
BSE Power index inclined by 74.16 points to trade at 3,412.97 as Reliance Energy (5.67%), Tata Power (2.86%), NTPC (2.67%) and Power Grid (1.75%) are trading in positive.
BSE Health Care index increased by 13.97 points to trade at 4,289.07 as Dr. Reddy (1.80%), Divi’s lab (1.54%), Sun Pharma (0.58%), and Lupin (0.42%) are trading in positive.
BSE Banks surged by 225.16 points to trade at 9,044.84. The main gainers are ICICI Bank (3.84%), SBI (2.89%) and HDFC Bank (1.70%) are trading in green.
State Bank Of India will announce its non life insurance joint venture in June for which it has shortlisted its partner.
BSE Oil & Gas index was trading 106.05 points lower at 11,611.84 as BPCL (1.12%), RPL (1.09%), ONGC (0.62%) and Gail India (0.58%) are trading in green.
BSE Realty index inclined by 73.35 points to trade at 8,578.84. Leading to its gain are Ansal Infrastructure (5.12%), Mahindra Life (4%), HDIL (1.90%), DLF (1.38%) and Unitech (0.97%).
BSE Metal index dropped by 227.98 points to trade at 15,886.42. The major losers are Sterlite Industries (4.96%), Hindalco Industries (3.51%), Tata Steel (1.86%) and Sail (1.49%).
The overall market breadth is positive, as 1501 stocks are advancing while 993 stocks are declining and the 82 stocks remained unchanged on BSE.
The BSE Mid cap is higher by 100.20 points at 7,238.94 and the BSE small Cap advanced by 62.22 points to trade at 8,835.79.
At 12.30 pm, BSE Sensex was at 17,525.82 up by 238.51 points and Nifty was at 5,217.05 up by 51.15 points.
BSE IT index grew by 82.13 points to trade at 4,344.06 as HCL Technologies (3.62%), Satyam Computer (3.18%), Wipro (3.08%) and TCS (2.44%) are trading in green.
TCS has bagged an eight year end to end IT application services contract worth of Rs454 crore from Scottish Water, a UK based firm. As per this contract, the company will consolidate Scottish Water’s existing applications and transform information management to enhance delivery of IT services to the business.
BSE Auto index improved by 117.38 points to trade at 4,843.38 as Maruti Suzuki (5.57%), Mahindra & Mahindra (4.16%) and Tata Motors (3.92%) are trading in positive.
Maruti Suzuki has reported a 22% growth in its sales for the month of April, 2008. Maruti Suzuki India Limited sold 59,539 vehicles in the domestic market in April 2008, while the company had sold 48,652 vehicles in the domestic market in April 2007.
Mahindra and Mahindra has inked two movie co-production deals. The company would invest in Sunil Shetty’s production project- Mumbai Chakachak and would also invest in a global English movie.
BSE Capital goods index advanced by 183.23 points to 14,114.18. The main gainers are Siemens (1.61%), L&T (1.29%), BHEL (1.21%) and ABB (0.79%).
BSE Power index inclined by 74.16 points to trade at 3,412.97 as Reliance Energy (5.67%), Tata Power (2.86%), NTPC (2.67%) and Power Grid (1.75%) are trading in positive.
BSE Health Care index increased by 13.97 points to trade at 4,289.07 as Dr. Reddy (1.80%), Divi’s lab (1.54%), Sun Pharma (0.58%), and Lupin (0.42%) are trading in positive.
BSE Banks surged by 225.16 points to trade at 9,044.84. The main gainers are ICICI Bank (3.84%), SBI (2.89%) and HDFC Bank (1.70%) are trading in green.
State Bank Of India will announce its non life insurance joint venture in June for which it has shortlisted its partner.
BSE Oil & Gas index was trading 106.05 points lower at 11,611.84 as BPCL (1.12%), RPL (1.09%), ONGC (0.62%) and Gail India (0.58%) are trading in green.
BSE Realty index inclined by 73.35 points to trade at 8,578.84. Leading to its gain are Ansal Infrastructure (5.12%), Mahindra Life (4%), HDIL (1.90%), DLF (1.38%) and Unitech (0.97%).
BSE Metal index dropped by 227.98 points to trade at 15,886.42. The major losers are Sterlite Industries (4.96%), Hindalco Industries (3.51%), Tata Steel (1.86%) and Sail (1.49%).
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