Thursday, June 26, 2008

Market Opens In Positive. - June 26, 2008

The market today opens in green on the positive cues from the global markets. The buying support is seen in the IT, Oil & Gas, Capital Goods and Banking stocks. The BSE Sensex open above the14300 level. The BSE Mid Cap and BSE Small Cap are also trading higher with a gain of more than 1.5% in the opening trade.

The overall market breadth is positive as 1394 stocks are advancing whereas 405 stocks are declining on BSE.

Satyam Computer reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (2.99%) at Rs.458.50 while Mahindra & Mahindra the top loser down by (2.59%) at Rs.526.

At 10.30AM, the BSE Sensex was up by 173.08 points at 14,393.15 and the Nifty was up by 32.25 points to 4,284.90.

The BSE Mid Cap increased by 102.62 points to 5,849.28 and the BSE Small Cap improved by 132.38 points to 7,190.40.

BSE IT index advanced by 56.77 points to trade at 4,151.72. The major gainers are Satyam Computer, HCL Technologies, Financial Technologies and Infosys Technologies grew by (2.65%), (2.16%), (2.14%) and (1.91%) to Rs.457, Rs.267.35, Rs.1,685 and Rs.1,782 respectively.

BSE Capital Goods index improved by 135.99 points to trade at 10,938.17. The top gainers are Bharat Electrical increased by (1.99%) to Rs.1,094.70, BHEL inclined by (1.87%) to Rs1,469, L&T increased by (1.42%) at Rs.2,345.95 followed by Punj Lloyd up by (1.51%) to Rs.242.

Idea Cellular is trading higher by (1.28%) at Rs.103.20, The company is going to acquire Spice Communications to strengthen its position in the growing telecom market. Idea will acquire the Modis’ 40.8% stake in Spice.

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