The markets are trading sharply higher after a handsome opening due to the significant buying over the ground. Markets recovered from last week’s loss as Banking stocks out performed the benchmark index as trading with positive gap of more than 10%. Apart from that strong buying pressure is continued in the Capital Goods, Metal, Oil & Gas, IT and Consumer Durable stocks. Finance minister P Chidambaram''s statement that the government was working to increase liquidity in the banking system, also gave a boost to the sentiments. The BSE Sensex is trading above the 11,200 mark and the NSE Nifty is above the 3400. The BSE Mid Cap and the BSE Small Cap stocks are also are also on buyers'' radar as trading with gain of more than 3% and 2% respectively.
On the global market front, the Asian markets reacted positively to efforts by world leaders to end the recent financial crises as Hong Kong’s Hang Seng was up 3.2% and Shanghai''s benchmark index moved into positive territory after initial fall.
The overall market breadth is positive as 1463 stocks are advancing while 941 stocks are declining and the 50 stocks remained unchanged on BSE.
ICICI Bank Ltd reported the top gainer from the BSE Sensex pack as it was trading up by (21.19%) at Rs.441.25 followed by Sterlite Indus higher by (12.67%) at Rs.309.
The BSE Mid cap is higher by 124 points at 3,800.2 and the BSE small Cap is up by 127 points to trade at 4,483.34.
At 12.30 pm, BSE Sensex was at 11,211.72 up by 683 points and the NSE Nifty was at 3,471.8 higher by 191 points.
BSE Bankex index is trading higher by 586.07 points at 5,905.57. Gainers are ICICI Bank (23.04%), Yes Bank (21.40%), IDBI Bank (14.70%) and Axis Bank (12.44%).
BSE Capital Goods index advanced by 475.10 points at 8,458.10 as Reliance Industrial Infra (12.21%), Suzlon Energy (9.98%), Crompton Greaves (7.42%), Elecon Eng C (6.42%) and L&T Ltd (5.92%) are trading in green.
BSE Metal index is trading up by 427.46 points to 6,970.03. The main gainers are JSW Steel (10.55%), Sterlite Indus (10.05%), Gujarat NRE (10.00%), Hindalco (9.42%).
BSE Oil & Gas index is trading 271.41 points higher at 7,543.72 as Gail India (10.89%), Cairn Ind (8.65%), Reliance Natural Resources (6.16%) and Essar Oil (5.57%) are trading in positive.
BSE IT index advanced by 157.46 points to 2,741.71. The major gainers are Moser Bayer (14.49%), TCS Ltd (12.18%), Aptech Ltd (11.94%), Satyam Computer (8.67%) and Financ Tech (7.76%).
BSE Consumer Durables index increased by 141.88 points to 2,281.38. Leading to its rise are Titan Ind (9.69%), Videocon Ind (8.60%), Blue Star (4.12%) and Rajesh Export (2.74%).
BSE Power index was trading 110.95 points higher at 1,965.99. The main gainers are GVK Power (11.33%), Lanco Infra (11.20%), Suzlon Energy (10.52%), ABB Ltd (9.23%).
BSE Auto index inclined by 108.47 points to trade at 3,364.15 as Bajaj Auto (8.72%), M&M Ltd (7.95%),Escorts Ltd (7.54%) and Bharat Forge (6.13%) trading in positive.
On the global market front, the Asian markets reacted positively to efforts by world leaders to end the recent financial crises as Hong Kong’s Hang Seng was up 3.2% and Shanghai''s benchmark index moved into positive territory after initial fall.
The overall market breadth is positive as 1463 stocks are advancing while 941 stocks are declining and the 50 stocks remained unchanged on BSE.
ICICI Bank Ltd reported the top gainer from the BSE Sensex pack as it was trading up by (21.19%) at Rs.441.25 followed by Sterlite Indus higher by (12.67%) at Rs.309.
The BSE Mid cap is higher by 124 points at 3,800.2 and the BSE small Cap is up by 127 points to trade at 4,483.34.
At 12.30 pm, BSE Sensex was at 11,211.72 up by 683 points and the NSE Nifty was at 3,471.8 higher by 191 points.
BSE Bankex index is trading higher by 586.07 points at 5,905.57. Gainers are ICICI Bank (23.04%), Yes Bank (21.40%), IDBI Bank (14.70%) and Axis Bank (12.44%).
BSE Capital Goods index advanced by 475.10 points at 8,458.10 as Reliance Industrial Infra (12.21%), Suzlon Energy (9.98%), Crompton Greaves (7.42%), Elecon Eng C (6.42%) and L&T Ltd (5.92%) are trading in green.
BSE Metal index is trading up by 427.46 points to 6,970.03. The main gainers are JSW Steel (10.55%), Sterlite Indus (10.05%), Gujarat NRE (10.00%), Hindalco (9.42%).
BSE Oil & Gas index is trading 271.41 points higher at 7,543.72 as Gail India (10.89%), Cairn Ind (8.65%), Reliance Natural Resources (6.16%) and Essar Oil (5.57%) are trading in positive.
BSE IT index advanced by 157.46 points to 2,741.71. The major gainers are Moser Bayer (14.49%), TCS Ltd (12.18%), Aptech Ltd (11.94%), Satyam Computer (8.67%) and Financ Tech (7.76%).
BSE Consumer Durables index increased by 141.88 points to 2,281.38. Leading to its rise are Titan Ind (9.69%), Videocon Ind (8.60%), Blue Star (4.12%) and Rajesh Export (2.74%).
BSE Power index was trading 110.95 points higher at 1,965.99. The main gainers are GVK Power (11.33%), Lanco Infra (11.20%), Suzlon Energy (10.52%), ABB Ltd (9.23%).
BSE Auto index inclined by 108.47 points to trade at 3,364.15 as Bajaj Auto (8.72%), M&M Ltd (7.95%),Escorts Ltd (7.54%) and Bharat Forge (6.13%) trading in positive.
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