The Sensex pares all its initial gains as the profit booking across the counters prevails. The market unable to sustain at higher levels as the investors takes calculated steps in booking their positions. The market breadth is weak as 1636 stocks are trading in red while 719 stocks are trading in green.
At 11.30AM, BSE Sensex is trading lower by 4 points at 14,805 and NSE Nifty is trading up by 12.8 points at 4,515.90.
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.
Leading the rally from the gainers pack of BSE are Mangalore refineries trading up by (4.99%) at Rs71.55 in line with Educomp Solutions by (3.58%) at Rs3,515.05, BPCL by (3.33%) at Rs403.10, Dish TV by (3.26%) at Rs44.40, Reliance Energy by (3.12%) at Rs1228 and Bharti Airtel by (3%) at Rs765.
The Oil and Gas index is trading higher by 105.62 points at 9,907.48. Pushing it are BPCL trading up by (3.33%) at Rs403.10 along with RNRL by (2.28%) at Rs103.25, Essar Oil by (2.25%) at Rs216.25, ONGC by (2.13%) at Rs1005, RPL by (1.87%) at Rs158.10, HPCL by (1.72%) at Rs257.
The Bankex is trading lower by 170.84 points at 7,398.32. Pulling it are Yes bank trading down by (5.55%) at Rs139.50 in line with Union bank by (5.01%) at Rs131.70, Axis bank by (4.08%) at Rs760.50, Kotak bank by (3.89%) at Rs575, BOB by (3.71%) at Rs267.
Reliance Energy is trading higher by (2.27%) at Rs1217 as the company plans to spend $3.65bn over the next two years on power and infrastructure projects. The company will spend $2.5bn on road, office space and rail projects, $500mn on power distribution and $650mn on transmission lines.
ONGC is trading up by (1.42%) at Rs999 as the company is expecting its oil and natural gas production to reach about 1.2 mn barrels per day by 2009. The company plans to spend about Rs760 bn including Rs453 bn for overseas expansion by fiscal 2012.
At 11.30AM, BSE Sensex is trading lower by 4 points at 14,805 and NSE Nifty is trading up by 12.8 points at 4,515.90.
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.
Leading the rally from the gainers pack of BSE are Mangalore refineries trading up by (4.99%) at Rs71.55 in line with Educomp Solutions by (3.58%) at Rs3,515.05, BPCL by (3.33%) at Rs403.10, Dish TV by (3.26%) at Rs44.40, Reliance Energy by (3.12%) at Rs1228 and Bharti Airtel by (3%) at Rs765.
The Oil and Gas index is trading higher by 105.62 points at 9,907.48. Pushing it are BPCL trading up by (3.33%) at Rs403.10 along with RNRL by (2.28%) at Rs103.25, Essar Oil by (2.25%) at Rs216.25, ONGC by (2.13%) at Rs1005, RPL by (1.87%) at Rs158.10, HPCL by (1.72%) at Rs257.
The Bankex is trading lower by 170.84 points at 7,398.32. Pulling it are Yes bank trading down by (5.55%) at Rs139.50 in line with Union bank by (5.01%) at Rs131.70, Axis bank by (4.08%) at Rs760.50, Kotak bank by (3.89%) at Rs575, BOB by (3.71%) at Rs267.
Reliance Energy is trading higher by (2.27%) at Rs1217 as the company plans to spend $3.65bn over the next two years on power and infrastructure projects. The company will spend $2.5bn on road, office space and rail projects, $500mn on power distribution and $650mn on transmission lines.
ONGC is trading up by (1.42%) at Rs999 as the company is expecting its oil and natural gas production to reach about 1.2 mn barrels per day by 2009. The company plans to spend about Rs760 bn including Rs453 bn for overseas expansion by fiscal 2012.
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