Friday, July 4, 2008

The Market Trading Higher With Maintaining Strength - July 4, 2008

The market is trading higher with maintaining its strength on huge buying interest over the ground. It is on firm note after a plummeting start. NSE Nifty has crossed the 4000 level. Goods, Reality, Oil & Gas and Reality Stocks are giving strong support to the market while Metal stock is out of favour. Reality index advanced over 6% and Capital Goods over 5%. Among the Sensex pack, 27 stocks are trading in green while 3 stocks are in red.

At 1.32PM, the BSE Sensex is trading higher by 316.37 points at 13,410.49 and NSE Nifty is up by 79.8 points at 4,005.55.

The BSE Mid Cap and Small Cap are trading higher by 75.7 points and 55.13 points at 5,237.47 and 6,404.3 respectively.

Gainers from the BSE are JP Associates up by (9.71%) at Rs152.00 followed by Reliance Infra by (9.08%) at Rs787.10, DLF Ltd by (7.90%) at Rs412.00, BHEL by (7.40%) at Rs1,500.00, Reliance Com Ltd by (6.05%) at Rs413.05, L&T Ltd (4.80%) at Rs2,341.30 and ICICI Bank Ltd by (4.60%) at Rs600.25.

The Capital goods index is trading up by 511.39 points at Rs10,518.67as Punj Lloyd is trading higher by (13.44%) at Rs227.00 along with Siemens Ltd (11.53%) at Rs428.55, Areva (10.72%) at Rs1,441.00, BHEL (7.40%) at Rs1,500.00 and ABB Ltd by (6.91%) at Rs842.00.

The Reality index is trading high by 248.13 points at Rs4,543.35 as DLF Ltd is trading up by (8.03%) at Rs412.50 along with Housing Development (8.02%) at Rs394.50, Mahindra Life (7.40%) at Rs433.25, Unitech Ltd by (6.98%) at Rs164.75 and Omaxe Ltd by (6.73%) at Rs127.70.

The Metal index is trading down by 155.2 points at Rs11,958.26 as Tata Steel is trading lower by (3.29%) at Rs635.85 along with Sterlite In (2.29%) at Rs643.05, Sesa Goa Ltd (2.04%) at Rs2,957.95, Hindustan Zinc by (0.76%) at Rs477.90 and Steel Authority by (0.47%) at Rs127.40.

From the telecommunication sector, Tata Communications is trading higher by (5.83%) at Rs373.00 followed by Reliance Communications by (5.34%) at Rs410.50, Idea Cellular by (1.55%) at Rs88.60 and Bharti Airtel is trading up by (1.24%) at Rs716.50.

In auto sector M&M Ltd is trading higher by (3.24%) at Rs484.50 along with Tata Motors up by (1.62%) at Rs397.90, Maruti Suzuki by (1.19%) at Rs555.00 and Hero Honda Motors by (0.19%) at Rs665.20.

In cement sector ACC Ltd is trading up by (2.61%) at Rs484.20 along with Ambuja Cement trading high by (2.51%) at Rs73.40 and Grasim Ind by (0.23%) at Rs1,685.00.

Reliance Communication is trading up by (6.05%) at Rs413.05. MTN and Reliance Com are expected to announce their deal this weekend despite threats of legal action to block the deal. Anil Ambani is considering to take majority stake in MTN to help hold back a potential legal challenge from his elder brother, Mukesh Ambani

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