The market is trading higher on sustained buying across the board triggered by RBI''s move to cut short-term lending rate along with strong global cues. RBI cut its repo rate for the first time in 4.5 years on Monday by 100 basis points to 8.0% to soften the liquidity condition. Global markets lifted by the government’s efforts to push down short-term lending rates. Along with this Fed chairman Ben Bernanke indicated about another fiscal stimulus package and also expressed confidence in the government''s recent efforts to restore the financial system.
Domestic market is extending its gains on the back of buying in Oil & Gas, Capital Goods, Bank, Metal, IT, Reality, Consumer Durables and Power stocks. The BSE Sensex is trading around the 10,500 mark and the NSE Nifty is above the 3100. The BSE Mid Cap and Small Cap stocks are also on buyer’s radar.
On the global market front, the Asian markets are trading mostly higher and Japan leads the advance. The Nikkei 225 Average rose 1.8% to 9,170.27, Hang Seng Index was 0.3% up at 15,354.82 and China’s Shanghai Composite was up 0.4% at 1,982.60.
The overall market breadth is positive as 1512 stocks are advancing while 778 stocks are declining and the 59 stocks remained unchanged on BSE.
JP Associates reported the top gainer from the BSE Sensex pack as it was trading up by (14.03%) at Rs.77.2 followed by Satyam Computer higher by (7.60%) at Rs.310.95.
The BSE Mid cap is higher by 58.9 points at 3,565.26 and the BSE small Cap gained 69.7 points to trade at 4,182.55.
At 12.32 pm, BSE Sensex was at 10,494.61 up by 271 points and the NSE Nifty was at 3,179.25 higher by 53.4 points.
BSE Oil & Gas index is trading 282.27 points higher at 6,804.77 as Reliance (6.87%), Aban Offshore (6.13%), Essar Oil Ltd (5.98%) and Cairn Ind (5.87%) are trading in positive.
BSE Capital Goods index advanced by 268.32 points at 7,438.82 as Suzlon Energy (9.79%), Praj Indus (7.32%), SKF India (6.23%) and Punj Lloyd (6.10%) are trading in green.
BSE Bankex index is trading higher by 150.44 points at 5,846.16. Gainers are ICICI Bank (6.48%), Kotak Bank (3.94%), AXIS Bank (3.37%) and Canara Bank (2.85%).
BSE IT index advanced by 147.76 points to 2,889.22. The major gainers are Tech Mahindra (7.98%), Satyam Computer (7.58%), NIIT Ltd (6.77%) and TCS Ltd (6.21%).
BSE Metal index is trading up by 136.65 points to 6,024.01. The main gainers are Sterlite Indus (6.69%), Tata Steel (5.19%), Sesa Goa Ltd (3.54%) and Welspan Guajrat Sr (3.46%).
BSE Consumer Durables index inclined by 127.49 points to trade at 2,212.47 as Titan Ind (11.3%), Videocon Ind (5.66%), Gitanjali GE (4.73%) and Blue Star L (1.61%) are trading in positive.
BSE Reality index increased by 132.07 points to 2,562.88. Leading to its rise are Indiabull Real (15.99%), Housing Dev (10.37%), Mahindra Life (8.19%) and Orbit Co (7.42%).
BSE Power index was trading 65.77 points higher at 1,743.99. The main gainers are Suzlon Energy (9.73%), Reliance Infra (7.40%), Tata Power (5.92%) and Siemens Ltd (3.52%).
Domestic market is extending its gains on the back of buying in Oil & Gas, Capital Goods, Bank, Metal, IT, Reality, Consumer Durables and Power stocks. The BSE Sensex is trading around the 10,500 mark and the NSE Nifty is above the 3100. The BSE Mid Cap and Small Cap stocks are also on buyer’s radar.
On the global market front, the Asian markets are trading mostly higher and Japan leads the advance. The Nikkei 225 Average rose 1.8% to 9,170.27, Hang Seng Index was 0.3% up at 15,354.82 and China’s Shanghai Composite was up 0.4% at 1,982.60.
The overall market breadth is positive as 1512 stocks are advancing while 778 stocks are declining and the 59 stocks remained unchanged on BSE.
JP Associates reported the top gainer from the BSE Sensex pack as it was trading up by (14.03%) at Rs.77.2 followed by Satyam Computer higher by (7.60%) at Rs.310.95.
The BSE Mid cap is higher by 58.9 points at 3,565.26 and the BSE small Cap gained 69.7 points to trade at 4,182.55.
At 12.32 pm, BSE Sensex was at 10,494.61 up by 271 points and the NSE Nifty was at 3,179.25 higher by 53.4 points.
BSE Oil & Gas index is trading 282.27 points higher at 6,804.77 as Reliance (6.87%), Aban Offshore (6.13%), Essar Oil Ltd (5.98%) and Cairn Ind (5.87%) are trading in positive.
BSE Capital Goods index advanced by 268.32 points at 7,438.82 as Suzlon Energy (9.79%), Praj Indus (7.32%), SKF India (6.23%) and Punj Lloyd (6.10%) are trading in green.
BSE Bankex index is trading higher by 150.44 points at 5,846.16. Gainers are ICICI Bank (6.48%), Kotak Bank (3.94%), AXIS Bank (3.37%) and Canara Bank (2.85%).
BSE IT index advanced by 147.76 points to 2,889.22. The major gainers are Tech Mahindra (7.98%), Satyam Computer (7.58%), NIIT Ltd (6.77%) and TCS Ltd (6.21%).
BSE Metal index is trading up by 136.65 points to 6,024.01. The main gainers are Sterlite Indus (6.69%), Tata Steel (5.19%), Sesa Goa Ltd (3.54%) and Welspan Guajrat Sr (3.46%).
BSE Consumer Durables index inclined by 127.49 points to trade at 2,212.47 as Titan Ind (11.3%), Videocon Ind (5.66%), Gitanjali GE (4.73%) and Blue Star L (1.61%) are trading in positive.
BSE Reality index increased by 132.07 points to 2,562.88. Leading to its rise are Indiabull Real (15.99%), Housing Dev (10.37%), Mahindra Life (8.19%) and Orbit Co (7.42%).
BSE Power index was trading 65.77 points higher at 1,743.99. The main gainers are Suzlon Energy (9.73%), Reliance Infra (7.40%), Tata Power (5.92%) and Siemens Ltd (3.52%).
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