Thursday, July 10, 2008

Market Is Trading In Green After A Negative Start - July 10, 2008

Market is trading in green after a negative start on the back of weak global cues as the US market closed in deep red and Asian markets are trading mixed. It recovered to trade in positive as Metal, Reality, Capital Goods and Auto stocks are able to gain the market favour as most of the buying is seen in these baskets.

The overall market breadth is positive as 1,094 stocks are trading in green whereas 717 stocks are trading in red on BSE.

DLF Ltd reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (4.52%) at Rs.470.85 while Hindalco is the top loser with fall of (1.13%) at Rs.144.00.

At 10.32AM, the BSE Sensex was up by 43.75 points at 14,008.01 and the Nifty was higher by 18.39 points to 4,175.50.

The BSE Mid Cap increased by 31.44 points to 5,502.12 and the BSE Small Cap advanced by 49.26 points to 6,839.14.

The BSE Metal index is trading up by 152.86 points at Rs12,795.48 as Ispat Industries is trading higher by (4.00%) at Rs23.40 along with Tata Steel (3.14%) at Rs699.20, Steel Authority (2.70%) at Rs139.05, Sesa Gopa Ltd by (1.93%) at Rs3,088.00 and Jindal Steel by (1.85%) at Rs1,873.00.

The BSE Reality Index trading higher by 49.85 points to 4,951.01 as Sobha Dev up by (6.80%) at Rs271.00 along with DLF Ltd gained (4.52%) at Rs 470.65, Parsvnath (3.93%) at Rs125.50, Omaxe Ltd by (2.95%) at Rs138.0 and Purvankara by (1.70%) at Rs194.60.

The BSE Bank index is trading lower by 51.23 points at Rs6,132.30 as ICICI Bank Ltd is trading down by (1.42%) at Rs613.10 along with Karnataka Bank (1.14%) at Rs134.95, Axis Bank (1.04%) at Rs662.80, Kotak Bank by (0.63%) at Rs516.75 and Allahabad Bank by (0.42%) at Rs58.60.

Tata Steel is trading higher by (3.85%) at Rs704.00. Company got a place in Fortune 500 list. The company has been named as the company with the highest revenue growth of over 353% over the past year, due to the consolidation of Corus'' revenues with its balance sheet.

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