Wednesday, August 6, 2008

Market Is Trading Higher - Aug 06, 2008

The market is trading higher on significant buying over the ground. Indian market opened with heavy gains on strong global cues and maintains the strength. The BSE Sensex is trading above 15,200 level and NSE Nifty above 4,700 mark. Bank, Capital Goods, Oil & Gas, Reality and Auto stocks are in favor as most of the buying is seen from these baskets. However, only Metal stock is sufferer of negative sentiment. The market breadth is positive as 1554 stocks are trading in green while 757 stocks are trading in red.

At 11:30 AM the BSE Sensex is trading higher by 330.93 points at 15,292.00 and NSE Nifty is trading up by 69.80 points at 4,752.65. The BSE Mid Cap is trading higher by 86.09 points at 5,929.98 and BSE Small Cap is trading up by 40.77 points 7,233.56 respectively.

Gainers from the NSE are HDFC Bank Ltd trading higher by (7.56%) at Rs1,274.10 in line with Maruti Suzuki by (6.76%) at Rs655.50, ICICI Bank Ltd by (5.92%) at Rs735.20, Tata Motors by (4.98%) at Rs429.00, BHEL by (4.53%) at Rs1,850.10 and PNB by (4.16%) at Rs431.75.

The BSE Capital Goods index is trading up by 388.92 points at 12668.69. Scrips that are trading higher are Jyoti Struct (13.94%) at Rs141.00 followed by Bharat Bijli by (6.50%) at Rs1,320.00, BHEL by (4.61%) at Rs1,852.00, Gammon Ind by (4.34%) at Rs226.05 and Havells’ India by (3.69%) at Rs389.00.

The BSE Bank index is trading higher by 349.43 points at 7,567.41 as HDFC Bank Ltd trading up by (7.32%) at Rs1,271.00 along with Federal Bank by (5.29%) at Rs226.10, Indian Overseas Bank (4.71%) at Rs100.10, Union Bank by (4.56%) at Rs155.90 and Indus Ind Bank by (4.16%) at Rs92.60.

BHEL is trading higher by (4.53%) at Rs1,850.10. The company has won contract worth Rs2,500 crore for supplying 800 MW supercritical boilers from Andhra Pradesh Power Development Co.

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