Friday, May 23, 2008

Market Has Recovered Smartly

The market has recovered smartly from the yesterday’s losses as it opened significantly higher on the back of buying support is seen in the Consumer Durables, Realty, Oil & Gas and Bank stocks. However, the Metal and Auto stocks are trading lower in the opening trade. The Mid Cap and Small Cap are also trading higher in the opening trade.

The overall market breadth is positive as 1237 stocks are advancing whereas 488 stocks are declining on BSE.

At 10.30AM, the BSE Sensex was up by 106.66 points at 16,949.19 and the Nifty was up by 22.50 points to 5,047.95.

The BSE Mid Cap increased by 46.30 points to 7,095.55 and the BSE Small Cap advanced by 71 points to 8,734.85.

HDFC Bank reported the top gainer from the BSE Sensex pack. It is trading with a gain of 1.95% at Rs.1,406.75 while Maruti Suzuki reported the top loser down by 0.95% at Rs.796.50.

BSE Realty index advanced by 87.07 points to trade at 7,780.41. The major gainers are HDIL, Omaxe Ltd., Mahindra Life and Unitech grew by (1.77%), (1.54%), (1.27%) and (1.02%) to Rs.796.75, Rs.224.35, Rs.639.90 and Rs.276.65 respectively.

BSE IT index improved by 37.33 points to trade at 4,455.66. The top gainers are HCL Technologies inclined by (0.73%) to Rs.291.50, TCS increased by (0.63%) at Rs.967.25 followed by Satyam Computer and Infosys Technologies up by (0.33%) and (0.24%) to Rs.492.70 and Rs.1,868.20.

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