Wednesday, July 9, 2008

The Market Opens Strongly After A Sharp - July 9, 2008

The market today opens strongly after a sharp pull back yesterday on the back of positive cues from the global markets. The huge buying witnessed across the board in the opening trade mainly led by the Realty, Bank, Power and Capital Goods stocks. The BSE Sensex has surpassed the 13700 mark and the NSE Nifty above the 4100 mark in the opening bell. The BSE Mid Cap and Small Cap stocks are also trading higher with a gap up of more than 2% each.

The overall market breadth is positive as 1469 stocks are advancing whereas 327 stocks are declining on BSE.

ICICI Bank reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (6.81%) at Rs.1,046.30 while Hindalco Industries the top loser down by (0.28%) at Rs.145.

At 10.30AM, the BSE Sensex was up by 438.28 points at 13,128.22 and the Nifty was up by 129.75 points to 4,118.30.

The BSE Mid Cap increased by 139.11 points to 5,455.10 and the BSE Small Cap advanced by 165.02 points to 6,727.64.

BSE Bank index advanced by 319.73 points to trade at 6,215.87. The major gainers are ICICI Bank, HDFC Bank, PNB and SBI grew by (6.81%), (4.45%), (3.96%) and (3.78%) to Rs.634.80, Rs.1,046.30, Rs.389.50 and Rs.1,253.30 respectively.

BSE Realty index improved by 213.80 points to trade at 4,834.78. The top gainers are India Bull Real increased by (6.23%) to Rs.283, HDIL up by (5.62%) to Rs.442.50, DLF inclined by (4.98%) to Rs451.05 followed by Unitech up by (4.61%) to Rs.168.90.

L&T is trading higher by (3.66%) at Rs.2,484.90. The company has bagged a Rs.10.47billion order from the Indian Railways to set up a wheel manufacturing plant in Bihar.

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