The markets are trading in a see saw range as volatility grips the markets. The BSE Mid Cap and the Small Cap index have outperformed the benchmark index today and are however trading with a gain of around 1% each. The significant buying is seen among the Realty, Consumer Durables, Metal, Auto and Capital Goods stocks. However the Pharma and FMCG stocks are feeling the selling pressure.
There will be a little bit of volatility in the near term ahead of F&O expiry on Wednesday (a day earlier due to Christmas holiday on Thursday).
India''s largest commercial bank SBI on Saturday, 20 December 2008, has slashed its lending rate by 75 basis points, with effect from 1 January 2009. The bank also cut its deposit rates by 25 to 100 basis points across maturities.
The BSE Sensex is now trading above the 10,100 mark and the NSE Nifty trading above the 3,050 mark.
The overall market breadth is positive as 1384 stocks are advancing while 782 stocks are declining and the 74 stocks remain unchanged on BSE.
On the global market front, the Asian markets are trading mixed as Nikkei 225 index is trading higher by (1.57%). However, the Hang Seng, Shanghai Composite, Straits Times and Seoul Composite index are trading lower by (1.68%), (1.43%), (0.82%) and (0.12%) respectively. The Asian stocks were mixed after Japan slashed interest rates to almost zero as central banks around the world are taking steps to downpour the markets with cheap money to support a troubled global economy. The Bank of Japan lowered its key rate from 0.3 percent to 0.1 percent.
However, Japan''s Nikkei 225 average rose after the government unveiled a $54 billion stimulus package for the economy.
Tata Motors reported the top gainer from the BSE Sensex pack as it was trading higher by (4.49%) at Rs. 187.35 while HDFC the top loser down by (3.01%) at Rs.1,475.
The BSE Mid cap is higher by 45.08 points at 3,309.07 and the BSE small Cap advanced by 34.87 points to trade at 3,778.89.
At 12.35 pm, BSE Sensex was at 10,104.96 up by 5.05 points while the NSE Nifty was at 3,086.45 up by 8.95 points.
BSE Auto inclined by 7.59 points to 2,569.22. Leading to its gain are Tata Motors (4.02%), Bajaj Auto (0.89%) and Mahindra & Mahindra (0.25%). However, Hero Honda (1.59%), Ashok Leyland (1.02%) and Maruti Suzuki (0.55%) are trading lower.
BSE IT index declined marginally by 0.94 points to trade at 2,346.03 as HCL Technologies (4.70%), Wipro (0.48%) and TCS (0.43%) are trading in negative. While Tech Mahindra (3.24%), Mphasis (2.99%) and Satyam Computer (1.97%) are trading in positive.
BSE Metal index advanced by 46.43 points to 5,481.28 as JSW Steel (4.25%), Sesa Goa (3.50%), Ispat Industries (2.83%), Tata Steel (1.38%) and NALCO (1.91%) are trading in green.
BSE Bankex index is trading lower by 13.42 points at 5,617.80. Losers are ICICI Bank (2.64%), Kotak Bank (1.57%) and HDFC Bank (0.42%). However, the gainers are PNB (1.77%), IDBI Bank (1%) and SBI (0.96%).
BSE Oil & Gas index is trading 17.71 points lower at 6,426.10 as BPCL (4.97%), HPCL (3.89%), Indian Oil (2.87%) and Reliance Industries (0.91%) are trading in negative.
BSE Capital goods index advanced by 22.70 points to 7,218.98. The main gainers are Gammon India (7.05%), L&T (1.02%), Punj Lloyd (1.95%) and Praj Industries (1.01%).
BSE Power index is trading 5.58 points lower at 1,858.09. The main losers are Crompton Greaves (1.17%), NTPC (0.74%) and Power Grid (0.60%). However, Suzlon Energy (3.95%), GVK Power (3.46%) and Torent Power (1.20%) are the main ganers.
BSE Realty index surged by 76.82 points to 2,602.16. The major gainers are Unitech (9.49%), Parsavnath (4.39%), DLF (4.38%), Sobha Developers (2.99%), Ansal Infra (2.24%).
There will be a little bit of volatility in the near term ahead of F&O expiry on Wednesday (a day earlier due to Christmas holiday on Thursday).
India''s largest commercial bank SBI on Saturday, 20 December 2008, has slashed its lending rate by 75 basis points, with effect from 1 January 2009. The bank also cut its deposit rates by 25 to 100 basis points across maturities.
The BSE Sensex is now trading above the 10,100 mark and the NSE Nifty trading above the 3,050 mark.
The overall market breadth is positive as 1384 stocks are advancing while 782 stocks are declining and the 74 stocks remain unchanged on BSE.
On the global market front, the Asian markets are trading mixed as Nikkei 225 index is trading higher by (1.57%). However, the Hang Seng, Shanghai Composite, Straits Times and Seoul Composite index are trading lower by (1.68%), (1.43%), (0.82%) and (0.12%) respectively. The Asian stocks were mixed after Japan slashed interest rates to almost zero as central banks around the world are taking steps to downpour the markets with cheap money to support a troubled global economy. The Bank of Japan lowered its key rate from 0.3 percent to 0.1 percent.
However, Japan''s Nikkei 225 average rose after the government unveiled a $54 billion stimulus package for the economy.
Tata Motors reported the top gainer from the BSE Sensex pack as it was trading higher by (4.49%) at Rs. 187.35 while HDFC the top loser down by (3.01%) at Rs.1,475.
The BSE Mid cap is higher by 45.08 points at 3,309.07 and the BSE small Cap advanced by 34.87 points to trade at 3,778.89.
At 12.35 pm, BSE Sensex was at 10,104.96 up by 5.05 points while the NSE Nifty was at 3,086.45 up by 8.95 points.
BSE Auto inclined by 7.59 points to 2,569.22. Leading to its gain are Tata Motors (4.02%), Bajaj Auto (0.89%) and Mahindra & Mahindra (0.25%). However, Hero Honda (1.59%), Ashok Leyland (1.02%) and Maruti Suzuki (0.55%) are trading lower.
BSE IT index declined marginally by 0.94 points to trade at 2,346.03 as HCL Technologies (4.70%), Wipro (0.48%) and TCS (0.43%) are trading in negative. While Tech Mahindra (3.24%), Mphasis (2.99%) and Satyam Computer (1.97%) are trading in positive.
BSE Metal index advanced by 46.43 points to 5,481.28 as JSW Steel (4.25%), Sesa Goa (3.50%), Ispat Industries (2.83%), Tata Steel (1.38%) and NALCO (1.91%) are trading in green.
BSE Bankex index is trading lower by 13.42 points at 5,617.80. Losers are ICICI Bank (2.64%), Kotak Bank (1.57%) and HDFC Bank (0.42%). However, the gainers are PNB (1.77%), IDBI Bank (1%) and SBI (0.96%).
BSE Oil & Gas index is trading 17.71 points lower at 6,426.10 as BPCL (4.97%), HPCL (3.89%), Indian Oil (2.87%) and Reliance Industries (0.91%) are trading in negative.
BSE Capital goods index advanced by 22.70 points to 7,218.98. The main gainers are Gammon India (7.05%), L&T (1.02%), Punj Lloyd (1.95%) and Praj Industries (1.01%).
BSE Power index is trading 5.58 points lower at 1,858.09. The main losers are Crompton Greaves (1.17%), NTPC (0.74%) and Power Grid (0.60%). However, Suzlon Energy (3.95%), GVK Power (3.46%) and Torent Power (1.20%) are the main ganers.
BSE Realty index surged by 76.82 points to 2,602.16. The major gainers are Unitech (9.49%), Parsavnath (4.39%), DLF (4.38%), Sobha Developers (2.99%), Ansal Infra (2.24%).
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