Monday, August 11, 2008

Market Has A Gap Up Opening - Aug 11 , 2008

The markets today have a significant gap up opening on the back of positive global cues. The BSE Sensex open with a gap up of more than 200 points. The NSE Nifty has crossed the 4600 mark in the opening trade. The buying is seen in the Banking, Realty, Auto and Oil & Gas stocks. The BSE Mid Cap and BSE Small cap are also trading higher with a gain of more than 1% each in the opening bell.

The overall market breadth is positive as 1387 stocks are advancing whereas 307 stocks are declining on BSE.

JP Associate reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (3.84%) at Rs.190.55 followed by ICICI Bank up by (3.78%) at Rs.756.45.

At 10.30AM, the BSE Sensex was up by 286.51 points at 15,454.33 and the Nifty was up by 76.30 points to 4,605.80.

The BSE Mid Cap increased by 91.17 points to 5,978.14 and the BSE Small Cap advanced by 106.80 points to 7,288.54.

BSE Metal index surged by 154.10 points to trade at 13,040.07. The major gainers are JSW Steel, Tata Steel, Sterlite Industries and Ispat Industries grew by (2.21%), (2.07%), (1.81%) and (1.77%) to Rs.805, Rs.656.10, Rs.625.10 and Rs.28.70 respectively.

BSE Bank index surged by 209.11 points to trade at 7,604.14. The top gainers are PNB increased by (4.52%) to Rs.523.15, Bank of Baroda up by (4.27%) to Rs.298, SBI inclined by (3.16%) to Rs.1,570 followed by HDFC Bank grew by (1.62%) to Rs.1,301.

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