Wednesday, June 18, 2008

Mkts: Power, pharma stocks in demand - June 18, 2008

Consumer durables, power, pharma, realty, metal and PSU stocks are among the prominent gainers on the major Indian bourses this morning. Bank and information technology stocks trade weak. FMCG, capital goods and oil stocks remain highly subdued.

At 15,683.59, the Sensex is now down with a marginal loss of 13.31 points. The Nifty is up with a small gain of 3.05 points at 4656.05.

Even as a host of large cap stocks are seen struggling for support, a number of stocks from midcap and smallcap segments have moved up sharply on strong buying enquiries. Mirroring investor interest for stocks from the midcap space, the BSE Midcap has jumped 1.3%. The Smallcap barometer has gained a little over 1.5%.

Torrent Power, the biggest gainer in the Power index, is up by as much as 12.1% now. GVK Power has gained nearly 4%. Suzlon Energy has moved up by around 3.25%. CESC, Areva, Siemens, NTPC, Tata Power, Power Grid, Reliance Infrastructure, Reliance Power and GMR Infrastructure have gained 1% - 2.5%.

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Among pharma stocks, Ranbaxy Laboratories has gained over 4% at Rs 605. Orchid Chemicals has moved up by 4.35%. Dishman Pharma and Wockhardt are up by 3.4% and 3.05% respectively.

Cadila Healthcare, Fortis Healthcare, GlaxoSmithKline Pharma, Glenmark Pharma, Sun Pharma Advanced Research, Divi's Laboratories, Aventis Pharma, Opto Circuit and Matrix Laboratories have gained 1% - 3%.

Among the stocks from the Realty index, Ansal Infrastructure, Mahindra Lifespace and DLF have gained smart ground. While Ansal Infrastructure has gained 3.1%, Mahindra Lifespace and DLF are up by around 2.5% and 2% respectively.

Puravankara Projects, Parsvnath Developers, Omaxe, Unitech, Akruti City, Penland and Anant Raj Industries are up with sharp to moderate gains.

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