The market is trading on the front foot with its boots on tracking the strong cues from the global markets as well a the fall in India''s inflation, based on the wholesale price index to 12.40% during the week ended August 16 2008, as against 12.63% in the previous week. Also the fall in global crude oil price also boosted the sentiments. The market breadth is strong as 1589 stocks are trading in green while 589 stocks are trading in red.
At 11.30AM, the BSE Sensex is trading up by 368.39 points at 14,416.73 and NSE Nifty is trading higher by 102.1 points at 4,316.10. The BSE Mid Cap and Small Cap are trading higher by 95.42 points and 78.03 points at 5,704.27 and 6,860.33 respectively.
Leading the rally from the gainers pack are Indiabulls trading up by 8.43% at Rs250.95 in line with Indiabulls Real by 8.24% at Rs259, United Breweries by 7.46% at Rs280.35, Oriental Bank by 6.75% at Rs163, SBI by 6.24% at Rs1391.15, Canara Bank by 5.97% at Rs212.10, ICICI bank by 5.90% at Rs671.30 and Axis bank by 5.55% at Rs707.90.
The Metal index is trading higher by 271.83 points at 12,196.98. Pushing it are Jai Corp trading up by 4.99% at Rs324.30 along with Nalco by 3.70% at Rs382.40, Ispat Inda by 3.55% at Rs24.80, Gujarat NRE Coke by 3.50% at Rs104.90, Welspun Gujarat SR by 2.76% at Rs316, Tata Steel by 2.76% at Rs587.60, Sterlite inds by 2.50% at Rs623, NMDC by 2.37% at Rs295.50.
The Capital Goods index is trading up by 284.04 points at 11,776.54 as SKF India trading higher by 4.84% at Rs231.55 followed by Punj Lloyd by 4.04% at Rs292, Bhel by 3.33% at Rs1683.10, Praj industries by 3.33% at Rs171, Gammon India by 3.09% at Rs217, L&T by 2.86% at Rs2573 and Thermax by 1.08% at Rs486.05.
BPCL is trading up by 4.12% at Rs296 as its subsidiary Bharat PetroResources Ltd (BRPL) has spent around Rs330 crore to buy 10% stake in an oil block in Mozambique. BRPL through its subsidiary BPRL Ventures Mozambique BV, has bought the stake from US based Anadarko Petroleum Corporation.
Tata Motors is trading higher by 4.49% at Rs434.1. The company is planning to come out with a new vehicle that would be a cross over between Safari and Sumo. The company also plans to roll out the next generation Indigo. The Tata Group is also working out on the details to expand Land Rover’s network in Indian auto market by 2009.
Unitech is trading up by 3.34% at Rs157.85 as the company received the letter from the from Department of Telecommunications, Ministry of Communications and information Technology for the allotment of 4.4 MHz of spectrum in 1800 MHz GSM band in respect of Madhya Pradesh service area.
At 11.30AM, the BSE Sensex is trading up by 368.39 points at 14,416.73 and NSE Nifty is trading higher by 102.1 points at 4,316.10. The BSE Mid Cap and Small Cap are trading higher by 95.42 points and 78.03 points at 5,704.27 and 6,860.33 respectively.
Leading the rally from the gainers pack are Indiabulls trading up by 8.43% at Rs250.95 in line with Indiabulls Real by 8.24% at Rs259, United Breweries by 7.46% at Rs280.35, Oriental Bank by 6.75% at Rs163, SBI by 6.24% at Rs1391.15, Canara Bank by 5.97% at Rs212.10, ICICI bank by 5.90% at Rs671.30 and Axis bank by 5.55% at Rs707.90.
The Metal index is trading higher by 271.83 points at 12,196.98. Pushing it are Jai Corp trading up by 4.99% at Rs324.30 along with Nalco by 3.70% at Rs382.40, Ispat Inda by 3.55% at Rs24.80, Gujarat NRE Coke by 3.50% at Rs104.90, Welspun Gujarat SR by 2.76% at Rs316, Tata Steel by 2.76% at Rs587.60, Sterlite inds by 2.50% at Rs623, NMDC by 2.37% at Rs295.50.
The Capital Goods index is trading up by 284.04 points at 11,776.54 as SKF India trading higher by 4.84% at Rs231.55 followed by Punj Lloyd by 4.04% at Rs292, Bhel by 3.33% at Rs1683.10, Praj industries by 3.33% at Rs171, Gammon India by 3.09% at Rs217, L&T by 2.86% at Rs2573 and Thermax by 1.08% at Rs486.05.
BPCL is trading up by 4.12% at Rs296 as its subsidiary Bharat PetroResources Ltd (BRPL) has spent around Rs330 crore to buy 10% stake in an oil block in Mozambique. BRPL through its subsidiary BPRL Ventures Mozambique BV, has bought the stake from US based Anadarko Petroleum Corporation.
Tata Motors is trading higher by 4.49% at Rs434.1. The company is planning to come out with a new vehicle that would be a cross over between Safari and Sumo. The company also plans to roll out the next generation Indigo. The Tata Group is also working out on the details to expand Land Rover’s network in Indian auto market by 2009.
Unitech is trading up by 3.34% at Rs157.85 as the company received the letter from the from Department of Telecommunications, Ministry of Communications and information Technology for the allotment of 4.4 MHz of spectrum in 1800 MHz GSM band in respect of Madhya Pradesh service area.
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