Tuesday, May 27, 2008

Market Is Trading Within A Range And Tracking

The market is trading within a range and tracking the favoring cues from the Asian markets the domestic market opened in green and continues to trade in positive. However, most buying is witnessed from the metal, capital goods and realty baskets. The market breadth is weak as 1462 stocks are trading in green while 806 stocks are trading in red.

At 11.32AM, BSE Sensex is trading higher by 68.75 points at 16,417.25 and NSE Nifty is trading up by 38.65 points at 4,913.70. The BSE Mid Cap and Small are trading higher by 46.87 points and 71.69 points at 6,807.64 and 8,389.89 respectively.

Leading the rally of the gainers from the BSE are HMT trading higher by (3.85%) at Rs78.20 in line with Crompton Greaves by (3.43%) at Rs245.50, I-Flex by (3.35%) at Rs1394.80, Aban Offshore by (3.26%) at Rs4010, Gujarat NRE by (3.16%) at Rs156.90, Videocon Industries by (3.11%) at Rs384.10, Rajesh Exports by (3.09%) at Rs93.55 and Indian Overseas by (2.84%) at Rs133.90.

The Oil and Gas index is trading up by 112.45 points at 10,933.10. Pushing it are Aban Offshore trading higher by (3.15%) at Rs4006 along with RNRL by (2.54%) at Rs106.95, Essar Oil by (2.38%) at Rs243, HPCL by (2.33%) at Rs246.15, IOCL by (2.24%) at Rs424, RPL by (1.58%) at Rs182.90, BPCL by (1.56%) at Rs354.30 and Cairn India by (1.33%) at Rs311.60,

From the Metal index, Gujarat NRE trading up by (3.16%) at Rs156.90 along with Jindal Stainless by (2.93%) at Rs140.60, Bhushan Steel by (2.22%) at Rs780.80, JSW Steel by (1.59%) at Rs1096.70, Hind Zinc by (1.46%) at Rs669.05, Ispat Industries by (1.38%) at Rs33, Sesa Goa by (1.20%) at Rs4040.15, SH. Precoated by (1.10%) at Rs165.05 and Sterlite industries by (0.79%) at Rs879.

Satyam Computer is trading up by (2.69%) at Rs495 as the company and GE Healthcare has entered into a comprehensive agreement to support customers deploying healthcare IT solutions based on GE centricity enterprise software. The companies will join the forces to plan, design and implement infrastructures for global healthcare providers.

Reliance Communications is trading higher by (1.27%) at Rs549.85 as its subsidiary Reliance Globalcom acquired Vanco Group Ltd, the UK telecom carrier for Rs3.27bn. Vanco managed network services and have presence in over 40,000 locations across 163 countries.

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