Friday, July 4, 2008

Market Firms Up Further The Back Of Sustained Buying - July 4, 2008

Market firms up further on the back of sustained buying across the sectoral indices. Though the market has a tumbling start but it soon gathered the momentum to recover from the fall as the investor’s shows buying interest. However most buying is seen from the Capital Goods and Realty basket. The market breadth is strong as 1204 stocks are trading in green while 952 stocsk are trading in red.

At 11.30AM, BSE Sensex is trading higher by 225.5 points at 13,319.61 and NSE Nifty is trading up by 57.9 at 3,983.65. The BSE Mid Cap and BSE Small Cap are trading up by 40.76 points and 25.87 points at 5,202.52 and 6,375.04.

Gainers from the BSE are Phoenix mill trading up by 9.97% at Rs144 followed by Ansal infra by 8.21% at Rs82.40, JP Associates by 8.01% at Rs149.65 and Godrej industries by 7.54% at Rs139.

The Capital Goods index is trading higher by 296.72 points at 10,304. Pushing it are Siemens trading up by 6.69% at Rs409.95 along with Punj Lloyd by 6.25% at Rs212.60, Areva by 5.65% at Rs1375, Suzlon Energy by 4.44% at Rs187, Bhel by 4.25% at Rs1456, Crompton Greaves by 3.52% at Rs229.60.

The Oil and Gas index is trading up by 128.77 points at 9,051.24 as Reliance industries trading higher by 1.54% at Rs2103.05 in line with this ONGC by 1.26% at Rs870, RPL by 0.95% at Rs169.45, RNRL by 0.64% at Rs62.70 and BPCL by 0.62% at Rs227.30.

Siemens is trading higher by (6.69%) at Rs409.95 as the company is soon going to establish a manufacturing facility for train coaches and metros in India. company has nearly finished the take over of land at Aurangabad in Maharashtra to put up a greenfield plant for the manufacture of engineering goods including rolling stock. The facility will go on stream by the middle of 2009.

Bhel is trading up by (4.25%) at Rs1456 as the company bagged a major prestigious turnkey order worth of Rs2080 crore from the ministry of electricity, Syria for setting up of two units of 200 mw each at the Tishreen thermal power plant extension. The order is for generation and transmission (PEEGT) - scheduled for execution in 33 months - includes manufacturing supply and commissioning of main plant and balance of plant (BoP) equipment besides Controls & Instrumentation (C&I).

Suzlon Energy Ltd is trading up by (4.99%) at Rs188.2. The company mulls to infuse over Rs 4,000 crore in Tamil Nadu to establish a cluster of production facilities for manufacture of wind turbine generators and related components at the SEZ being establish by Suzlon Infrastructure.

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