Friday, January 11, 2008

Market Is Trading With Marginal Gains

The market is trading with marginal gain after a strong start to te trading session. The volatility gripped the market and the investor''s are taking calculated steps in booking their positions. The market breadth is weak as 2163 stocks are trading in red while 505 stocks are trading in green. The BSE Mid Cap and Small Cap are trading lower by 76.75 points and 237.68 points at 9,363.70 and 12,620.95 respectively.

At 11.32AM, BSE Sensex is trading up by 137.53 points at 20,719.61 and NSE Nifty is trading higher by 10.4 points at 6,167.35.

Gainers from the BSE are ICICI Bank trading higher by 6.20% at Rs1440.80 along with HCL Info by 4.12% at Rs252.80, Indus Ind bank by 3.99% at Rs120, Finolex Cables by 3.39% at Rs116, Edelweiss by 3.17% at Rs1290, Bombay Dyeing by 2.72% at Rs895 and Sun pharma by 2.46% at Rs1120.50.

The Oil and Gas index is trading higher by 51.51 points at 13,580.45. Pushing it are Reliance industries trading up by (1.48%) at Rs3072 along with BPCL by (1.36%) at Rs444, RPL by (0.82%) at Rs220.05, Aban Offshore by (0.46%) at Rs4950 and ONGC by (0.23%) at Rs1295.15.

The Capital Goods index is trading lower by 243.14 points at 19,422.92. Pulling it down are ABB Ltd trading lower by (3.26%) at Rs1446.90 followed by Praj industries by (2.90%) at Rs225.75, Suzlon energy by (2.88%) at Rs2148, Areva by (1.70%) at Rs2305.10, Punj Lloyd by (1.69%) at Rs522, Siemens by (1.59%) at Rs1971.15 and Alstom Projects by (1.32%) at Rs955.25.

Unitech is trading higher by (0.39%) at Rs520 as the company has won the regulatory approval to raise $700mn i.e. Rs2,800Crore through public offer in the Singapore stock exchange. The company will list its subsidiary in Singapore as Unitech Office Trust, which is a real estate investment trust.

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