Tuesday, March 11, 2008

Market Is On Roll

The market is trading with its wings on as the buying intensified across the counters. Though the market opened on a disappointing note and later gathers the momentum to overcome from the intial fall and is trading on the front foot. The market breadth is very strong as 1703 stocks are trading in green while 658 stocks are trading in red.

At 11.33AM, BSE Sensex is trading higher by 132 points at 16,056 and NSE Nifty is trading up by 42.85 points at 4,843.25.

The market will remain closed from 11:45 IST to 12:25 IST due to sun outage. Trading time has been extended till 16:15 IST.

Scrips that attracted the investors confidence are India bulls trading higher by (9.54%) at Rs514.55 in line with Akruti City by (8.11%) at Rs1006, Bajaj Hind by (7.81%) at Rs225.70, Engineers India by (7.40%) at Rs739.90.

The capital goods index is trading higher by 518.87 points at 13,859.96. Pushing it are L&T trading up by (7.73%) at Rs2939.80 along with Punj Lloyd by (5.63%) at Rs337, Praj inds by (5.47%) at Rs152.30, Siemens by (4.80%) at Rs687.75, Havell India by (4.52%) at Rs491.90.

The Oil and Gas is trading up by 142.99 points at 10,368.66 as RNRL is trading higher by (4.54%) at Rs112.75 followed by Gail India by (4.34%) at Rs411, Aban Offshore by (4.18%) at Rs3605, RPL by (2.75%) at Rs170, ONGC by (2.61%) at Rs993.45.

Gail India is trading up by (4.34%) at Rs411 as the company has shown interest in buying the Asian Development Bank''s 5.2% stake in Petronet LNG Ltd.

Unitech is trading higher by (6.2%) at Rs291 as the company is hopeful of roping in a strategic partner for its telecom business within he next two months and the company is in talks with three-four global telecom companies.

Tata Power is trading up by (3.44%) at Rs1142 as the company is looking at expanding its reach by building power plants in Southeast Asia. It is also eyeing mines in Indonesia despite high coal prices and increasing cost of acquisitions.

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