The market is trading firm on continuous buying over the ground led by positive global cues and dip in crude oil price. Crude oil price dropped by $2.54 to close at $122.19 a barrel on the NYMEX. Banking stocks, which were hammered on Tuesday, are leading the recovery. Sustained buying is contributed mainly by Metal, Bank, Capital Goods, Oil & Gas Reality stocks. The market breadth is positive as 1644 stocks are trading in green while 543 stocks are trading in red.
At 11:32 AM the BSE Sensex is trading higher by 219.21 points at 14,127.91 and NSE Nifty is trading up by 79.09 points at 4,268.95. The BSE Mid Cap is trading higher by 95.38 points at 5,583.96 and BSE Small Cap is trading up by 105.75 points 6,936.77 respectively.
Gainers from the NSE are Tata Steel trading higher by (5.96%) at Rs619.30 in line with HDFC Bank L by (5.31%) at Rs1,083.95, HDFC by (4.22%) at Rs2,197.00, PNB by (4.21%) at Rs471.10, ICICI Bank Ltd by (3.69%) at Rs630.15, SBI by (3.67%) at Rs1,367.05 and BPCL by (3.65%) at Rs321.90.
The BSE Metal index is trading up by 374.81 points at 12,505.17. Scrips that are trading higher are Tata Steel (6.01%) at Rs619.40 followed by NMDC Ltd by (5.00%) at Rs313.95, Jindal Steel by (4.19%) at Rs1,987.90, Steel Authority by (3.77%) at Rs136.30 and Ispat Indus by (3.40%) at Rs25.85.
The BSE Bank index is trading higher by 234.07 points at 6,433.67 as Axis Bank trading up by (6.19%) at Rs658.50 along with HDFC Bank by (6.04%) at Rs1,091.00, Bank of Baroda (5.28%) at Rs239.35, PNB by (5.11%) at Rs474.50 and YES Bank by (4.69%) at Rs127.30.
HDFC Bank is trading higher by (5.46%) at Rs1,085.05. The bank has reported a 44.6% growth in its net profit at Rs464 crore for the quarter ended June 2008. As against the industry’s trend of slower credit growth, the bank has reported an 80% rise in its advances.
Satyam Computers is trading higher by (3.95%) at Rs383.25. The company has signed an agreement with U.S. based Infospectrum to provide services to the aviation industry. Infospectrum provides solutions to the aviation, aerospace and defense industries and now Satyam will provide services to operators and providers of maintenance, repair and overhaul facilities as well as components repairs.
At 11:32 AM the BSE Sensex is trading higher by 219.21 points at 14,127.91 and NSE Nifty is trading up by 79.09 points at 4,268.95. The BSE Mid Cap is trading higher by 95.38 points at 5,583.96 and BSE Small Cap is trading up by 105.75 points 6,936.77 respectively.
Gainers from the NSE are Tata Steel trading higher by (5.96%) at Rs619.30 in line with HDFC Bank L by (5.31%) at Rs1,083.95, HDFC by (4.22%) at Rs2,197.00, PNB by (4.21%) at Rs471.10, ICICI Bank Ltd by (3.69%) at Rs630.15, SBI by (3.67%) at Rs1,367.05 and BPCL by (3.65%) at Rs321.90.
The BSE Metal index is trading up by 374.81 points at 12,505.17. Scrips that are trading higher are Tata Steel (6.01%) at Rs619.40 followed by NMDC Ltd by (5.00%) at Rs313.95, Jindal Steel by (4.19%) at Rs1,987.90, Steel Authority by (3.77%) at Rs136.30 and Ispat Indus by (3.40%) at Rs25.85.
The BSE Bank index is trading higher by 234.07 points at 6,433.67 as Axis Bank trading up by (6.19%) at Rs658.50 along with HDFC Bank by (6.04%) at Rs1,091.00, Bank of Baroda (5.28%) at Rs239.35, PNB by (5.11%) at Rs474.50 and YES Bank by (4.69%) at Rs127.30.
HDFC Bank is trading higher by (5.46%) at Rs1,085.05. The bank has reported a 44.6% growth in its net profit at Rs464 crore for the quarter ended June 2008. As against the industry’s trend of slower credit growth, the bank has reported an 80% rise in its advances.
Satyam Computers is trading higher by (3.95%) at Rs383.25. The company has signed an agreement with U.S. based Infospectrum to provide services to the aviation industry. Infospectrum provides solutions to the aviation, aerospace and defense industries and now Satyam will provide services to operators and providers of maintenance, repair and overhaul facilities as well as components repairs.
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