Tuesday, May 27, 2008

Mid Session Market

The market has maintained its opening gains and is still trading higher as sustained buying support is seen in the selective scrips. The Consumer Durables, Oil & Gas, Power and FMCG stocks ar the hot pursuits of the day. However, the banking stocks are still under pressure as some selling pressure in seen in these scrips. The BSE Sensex is hovering around the 16, 400 mark and the NSE Nifty is trading near the 4900 mark. The broader market is also trading in line with the benchmark index.

The overall market breadth is positive, as 1484 stocks are advancing while 941 stocks are declining and the 76 stocks remained unchanged on BSE.

The BSE Mid cap is higher by 44.87 points at 6,805.64 and the BSE small Cap advanced by 62.73 points to trade at 8,380.94.

At 12.30 pm, BSE Sensex was at 16,451.76 up by 103.26 points and Nifty was at 4,923.90 up by 48.85 points.

BSE IT index inclined by 35.03 points to trade at 4,453.03 as Wipro (3.08%), Satyam Computer (2.75%), TCS (1.31%) and HCL Technologies (0.62%) are trading in green.

BSE Oil & Gas index was trading 85.97 points higher at 10,906.62 as BPCL (1.64%), RPL (1.53%) and Cairn India (0.78%) are trading in green.

BSE Metal index advanced by 109.12 points to trade at 16,452.33. The major gainers are Sterlite Industries (1.58%), SAIL (1.08%), NALCO (0.55%) and Tata Steel (0.51%).

BSE Capital goods index inclined by 105.39 points to 12,939.07. The main gainers are BHEL (2.47%), ABB (2.28%), L&T (0.72%).
BHEL has bagged Rs 1,150 crore turnkey contract for setting up an energy efficient 153 MW captive power plant at Bhatinda in Punjab.

BSE Bankex index is trading lower by 92 points at 7,847.25. Losers are Andhra Bank (2.58%), Bank of Baroda (1.62%), HDFC Bank (1.74%) and SBI (1.54%).
State Bank of India hikes rates on long term deposites. The bank announced an increase of 25 to 50 basis points in interest rate on deposits of tenures of two years and above.

BSE Realty increased by 71.10 points to 7,411.19. Leading to its gain are Purvankara (4.52%), Omaxe Ltd. (2.56%), HDIL (2.31%), Unitech (1.58%) and DLF (1.42%).

BSE Power index increased by 35.03 points to trade at 3,161.35 as Crompton Greaves (3.54%), Rel Infra (2.96%), Tata Power (2.22%), Torent Power (1.60%) and NTPC (1.02%) are trading in positive.

BSE Auto increased marginally by 4.85 points to 4,536.88. Leading to its gain are TVS Motor (1.96%), Ashok Leyland (0.67%), and Maruti Suzuki (0.15%).

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