Wednesday, May 28, 2008

Market Today Opens Marginally Higher

The market today opens marginally higher on the back of mixed cues from the global markets. But suddenly the market turned choppy as some selling emerged among the selective scrips mainly led by the Capital Goods, Power, Auto and Metal stocks. However, the significant buying witnessed in the FMCG, Realty, IT and Pharma stocks. The BSE Sensex is hovering around the 16300 mark and the NSE Nifty is trading around the 4850 mark. The Mid Cap and Small Cap are also trading in line with the benchmark index.

The overall market breadth is positive as 953 stocks are advancing whereas 638 stocks are declining on BSE.

At 10.30AM, the BSE Sensex was down by 24.47 points at 16,251.11 and the Nifty was down by 13.50 points to 4,846.75.

The BSE Mid Cap decreased by 8 points to 6,670.91 and the BSE Small Cap slipped by 15.68 points to 8,194.40.

Ambuja Cement reported the top gainer from the BSE Sensex pack. It is trading with a gain of 4.82% at Rs.102.30 while BHEL reported the top loser down by 2% at Rs.1625.

BSE Realty index advanced by 70.12 points to trade at 7,296.22. The major gainers are Unitech, Indiabull Real, DLF and Purvankara grew by (1.83%), (1.54%), (1.38%) and (1.66%) to Rs.253.50, Rs.493, Rs.604.70 and Rs.235.35 respectively.

BSE FMCG index grew by 23.07 points to trade at 2,368.38. The top gainers are ITC, inclined by (1.70%) to Rs.212.65, Godrej Consumer increased by (1.36%) at Rs.130 followed by Dabur India and Nestle up by (1.14%) and (0.95%) to Rs.93 and Rs.1778.

Tata Communication is trading higher by (0.85%) at Rs.506.10. The company has signed a memorandum of understanding with UAE-based Etisalat to provide enterprise grade network services in UAE.

TCS advanced by (1.06%) at Rs.979.20. The company has won a $100 million five-year contract with NXP Semiconductors. As per the deal, TCS will provide application management, development and support services across NXP’s supply chain operations.

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