Tuesday, December 16, 2008

Mid Session Market - Dec 16, 2008

The markets have made sharp recovery from the day’s lows and are trading significantly higher. The Consumer Durables, IT, Pharma, Capital Goods, Power and Banking stocks are on the buyer’s ride today. The BSE Mid Cap and the Small Cap index today has outperformed the benchmark index. The BSE Sensex is now trading above the 9,850 mark and the NSE Nifty trading above the 3,000 mark.

The overall market breadth is positive as 1655 stocks are advancing while 461stocks are declining on BSE.

On the global market front, the Asian markets have also recover from their losses as the Hang Seng and Seoul Composite index are trading higher by (0.35%) and (0.29%) respectively. However, the Shanghai Composite and Nikkei 225 index are trading lower by (0.86%) and (1.12%) respectively.

ONGC reported the top gainer from the BSE Sensex pack as it was trading higher by (4.86%) at Rs. 705.60 while Sterlite Industries the top loser down by (5.19%) at Rs. 291.75.

The BSE Mid cap is higher by 69.62 points at 3,234.69 and the BSE small Cap advanced by 111.09 points to trade at 3,770.18.

At 12.35 pm, BSE Sensex was at 9,887.80 up by 55.41 points while the NSE Nifty was at 3,007.20 up by 26 points.

BSE Auto inclined by 15.25 points to 2,438.77. Leading to its gain are Ashok Leyland (7.13%), Tata Motors (3.10%), Bajaj Auto (1.27%) and Hero Honda (1.19%).

BSE IT index inclined by 62.35 points to trade at 2,348.55 as HCL Technologies (13.82%), Tech Mahindra (6%), TCS (2.64%), Infosys Technologies (2.53%) and Wipro (1.90%) are trading in positive.

BSE Metal index advanced by 79.39 points at 5,617.86 as NMDC (13.69%), Ispat Industries (2.37%), Jindal Saw (2.71%), JSW Steel (2.14%) and Sesa Goa (2.33%) are trading in green.

BSE Bankex index is trading higher by 49.89 points at 5,189.82. Gainers are IDBI Bank (3.56%), AXIS Bank (3.41%), Kotak Bank (2.12%), SBI (2.06%), ICICI Bank (1.95%), PNB (1.70%).

BSE Oil & Gas index is trading 79.93 points higher at 6,424.87 as ONGC (5.22%), Cairn India (2.70%), Aban Offshore (2.33%), Essar Oil (1.82%) and RPL (0.94%) are trading in positive.

BSE Capital goods index surged by 144.73 points to 7,189.21. The main gainers are Punj Lloyd (7.06%), Havells India (6.48%), Praj Industries (4.99%), and Siemens (4.36%).

BSE Power index is trading 31.45 points higher at 1,819.10. The main gainers are Suzlon Energy (6.16%), Torent Power (2.56%), NTPC (2.23%), Reliance Power (1.96%) and Tata Power (1.56%).

BSE Realty index grew by 15.72 points to 2,261.59. The major gainers are Ansal Infra (4.57%), HDIL (3.89%), Sobha Developers (3.87%) and Omaxe Ltd. (3.05%).

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