Friday, May 16, 2008

Market Opens High

The market today opens significantly higher on the back of positive cues from the global markets. All the key indices are trading in green in the opening trade. The buying momentum is seen in the Bank, Capital Goods, Power and IT stocks. However, the Metal and FMCG stocks are marginally don in the opening trade. The Mid Cap and Small Cap are also trading in positive.

The overall market breadth is positive as 1124 stocks are advancing whereas 589 stocks are declining on BSE.

At 10.30AM, the BSE Sensex was up by 9.88 points at 17,363.42 and the Nifty was up by 5.25 points to 5,120.50.

The BSE Mid Cap increased by 18.64 points to 7,098.89 and the BSE Small Cap advanced by 45.47 points to 8,591.89.

HDFC Bank reported the top gainer from the BSE Sensex pack. It is trading with a gain of 1.76% at Rs.1,504.55 while Hindalco Industries reported the top loser down by 2.03% at Rs.199.90.

BSE Capital Goods index surged by 96.22 points to trade at 13,697.02. The major gainers are ABB, L&T and Siemens grew by (1.42%), (1.04%) and (0.48%) to Rs.1,088, Rs.3,000 and Rs.594 respectively.

BSE Bank advanced by 85.60 points to trade at 8,891.61. The top gainers are PNB inclined by (4.31%) to Rs.560.30, HDFC Bank increased by (1.76%) at Rs.1,504.55 followed by SBI up by (1.33%) to Rs.1,703.50.

Wipro is trading higher by (0.23%) at Rs.511.70. The company is now is entering a new set of businesses which will enable the company to leverage its growth on the clean energy and agriculture sectors. The company is planning to include alternate energy, water treatment, food and agriculture businesses under its infrastructure business.

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