The market is trading firm after a negative opening, on selective buying over the ground led by sharp drop in crude oil prices. Crude oil dropped by $3.69 to close at $121.41 a barrel on the NYMEX. Indian market opened with marginal losses but soon gathered the momentum and trading with gains. Sustained buying is seen mainly in Bank, Reality, Capital Goods and Auto stocks. However, Metal stock is out of favor. The market breadth is positive as 1654 stocks are trading in green while 611 stocks are trading in red.
At 11:30 AM the BSE Sensex is trading higher by 87.51 points at 14,665.38 and NSE Nifty is trading up by 23.14 points at 4,418.50. The BSE Mid Cap is trading higher by 88.40 points at 5,831.16 and BSE Small Cap is trading up by 89.22 points 7,192.57 respectively.
Gainers from the NSE are HDFC Bank Ltd trading higher by (5.11%) at Rs1,165.40 line with ICICI Bank Ltd by (4.68%) at Rs670.40, Punjab National Bank by (3.24%) at Rs507.70, Unitech Ltd by (3.23%) at Rs174.30, Mahindra & Mahindra Ltd by (3.17%) at Rs536.90, Hero Honda Motors Ltd (3.12%) at Rs820.00 and Gail India Ltd by (2.89%) at Rs396.45.
The BSE Bank index is trading higher by 271.63 points at 7,039.24 as IDBI Bank Ltd trading up by (7.06%) at Rs87.25 along with Indus Ind Bank by (5.79%) at Rs64.00, Indian Overseas Bank (5.26%) at Rs96.05, Karnataka Bank by (4.87%) at Rs141.00 and HDFC Bank Ltd by (4.82%) at Rs1,162.05.
The BSE Reality index is trading up by 99.16 points at 5,330.78 as Omaxe Ltd trading higher by (6.56%) at Rs135.70 along with Sobha Dev by (5.32%) at Rs284.25, Pheonix Mill (5.23%) at Rs193.00, Parsvnath by (3.63%) at Rs125.75 and Orbit Co by (3.38%) at Rs266.00.
The BSE Metal index is trading down by 241.09 points at 13,282.48. Scrips that are trading lower are Gujarat Nre C (6.25%) at Rs103.50 followed by Sterlite In by (5.76%) at Rs588.00, Sesa Goa Ltd by (4.11%) at Rs3,402.00, JSW SL by (3.54%) at Rs840.05 and Hindustan Zinc by (2.45%) at Rs577.80.
Mahindra & Mahindra Ltd is trading higher by (2.84%) at Rs534.40. The company has formed a joint venture with Kinetic Motor Company Ltd for the acquisition of business assets of Kinetic Motor. The acquisition will be executed through the formation of a new company for consideration of a sum of Rs.110 Crores along with 20% stake to Kinetic Motor in the new company.
At 11:30 AM the BSE Sensex is trading higher by 87.51 points at 14,665.38 and NSE Nifty is trading up by 23.14 points at 4,418.50. The BSE Mid Cap is trading higher by 88.40 points at 5,831.16 and BSE Small Cap is trading up by 89.22 points 7,192.57 respectively.
Gainers from the NSE are HDFC Bank Ltd trading higher by (5.11%) at Rs1,165.40 line with ICICI Bank Ltd by (4.68%) at Rs670.40, Punjab National Bank by (3.24%) at Rs507.70, Unitech Ltd by (3.23%) at Rs174.30, Mahindra & Mahindra Ltd by (3.17%) at Rs536.90, Hero Honda Motors Ltd (3.12%) at Rs820.00 and Gail India Ltd by (2.89%) at Rs396.45.
The BSE Bank index is trading higher by 271.63 points at 7,039.24 as IDBI Bank Ltd trading up by (7.06%) at Rs87.25 along with Indus Ind Bank by (5.79%) at Rs64.00, Indian Overseas Bank (5.26%) at Rs96.05, Karnataka Bank by (4.87%) at Rs141.00 and HDFC Bank Ltd by (4.82%) at Rs1,162.05.
The BSE Reality index is trading up by 99.16 points at 5,330.78 as Omaxe Ltd trading higher by (6.56%) at Rs135.70 along with Sobha Dev by (5.32%) at Rs284.25, Pheonix Mill (5.23%) at Rs193.00, Parsvnath by (3.63%) at Rs125.75 and Orbit Co by (3.38%) at Rs266.00.
The BSE Metal index is trading down by 241.09 points at 13,282.48. Scrips that are trading lower are Gujarat Nre C (6.25%) at Rs103.50 followed by Sterlite In by (5.76%) at Rs588.00, Sesa Goa Ltd by (4.11%) at Rs3,402.00, JSW SL by (3.54%) at Rs840.05 and Hindustan Zinc by (2.45%) at Rs577.80.
Mahindra & Mahindra Ltd is trading higher by (2.84%) at Rs534.40. The company has formed a joint venture with Kinetic Motor Company Ltd for the acquisition of business assets of Kinetic Motor. The acquisition will be executed through the formation of a new company for consideration of a sum of Rs.110 Crores along with 20% stake to Kinetic Motor in the new company.
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