Wednesday, April 2, 2008

Market Opens Strong

The market today opens with a bang backed by the strong global cues. The BSE Sensex open with a huge gap up of nearly 400 points. The strong buying witnessed across the board in the early trade mainly led by the Bank, Realty, IT and Consumer Durables stocks. The broader market is trading in tune with the market and is trading higher.

The overall market breadth is positive as 1,703 stocks are advancing whereas 175 stocks are declining on BSE.

At 10.30AM, the BSE Sensex was up by 488.37 points at 16,114.99 and the Nifty was up by 127.80 points to 4,867.35.

The BSE Mid Cap increased by 157.36 points to 6,552.46 and the BSE Small Cap advanced by 182.41 points to 8,044.17.

ICICI Bank reported the top gainer from the BSE Sensex pack. It is trading with a gain of 7.12% at Rs.812 followed by HDFC advanced by 6.16% to Rs.2,505.30.

BSE Bank index surged by 341.77 points to trade at 7,985.32. The top gainers are ICICI Bank inclined by (7.12%) to Rs.812, SBI increased by (4.44%) at Rs.1,695 followed by HDFC Bank and PNB up by (4.20%) and (3.21%) to Rs.1,365 and Rs.515.

BSE Realty index improved by 278.59 points to trade at 7,745.07. The major gainers are HDIL, India Bull Real, Sobha Developers and Unitech grew by (4.50%), (4.29%), (4.57%) and (3.51%) to Rs.682.25, Rs.506, Rs.627 and Rs.284.75 respectively.

DLF is trading higher by (4.15%) at Rs.653. The company is planning to tie up with the largest retail and real estate company of Thailand — The Central Group. DLF and Central Retail are learnt to be working on all possible combinations to roll out their retail operations in India.

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