Indian market recovered smartly after sun outage session and is trading higher as investors tracked bargains in beaten down market. Recovery in some Asian markets also helped the upturn. Sentiments were weak during early trading as market touched a two year low on collapse of U.S. bailout plan to ease the panic in global markets. BSE Sensex is trading above 12,800 mark along with NSE Nifty trading above 3,900 level. Most of the buying is seen in Bank, Capital Goods, Reality, IT and Oil & Gas stocks. However, Metal and FMCG stocks are still out of favour and selling pressure continues in BSE Mid Cap stocks. Among the Sensex pack, 22 stocks are trading in green and 8 is in red.
At 1.30PM, the BSE Sensex is trading higher by 280.00 points at 12,875.76 and NSE Nifty is up by 73.84 points at 3,923.90.
The BSE Mid Cap is trading higher by 16.39 points at 4,745.73 while Small cap is trading lower by 44.70 points at 5,508.25.
Gainers from the BSE are TCS Ltd up by (7.15%) at Rs663.95 along with JP Associates (5.30%) at Rs112.35, HDFC (5.27%) at Rs2,139.90, ICICI Bank Ltd (4.80%) at Rs517.00, BHEL (4.77%) at Rs1,581.50, Satyam Computer (4.68%) at Rs306.25 and SBI by (4.62%) at Rs1,469.90.
The BSE Bank index is trading higher by 213.29 points at Rs6,388.39. Scrips trading up are IDBI Bank Ltd (6.03%) at Rs75.65 followed by ICICI Bank Ltd by (4.69%) at Rs516.45, SBI (4.47%) at Rs1,467.75, Axis Bank (4.02%) at Rs698.60 and Union Bank by (3.65%) at Rs143.25.
The BSE Capital Goods index is trading up by 158.66 points at Rs10,429.26. Major gainers are BHEL (4.76%) at Rs1,581.40 followed by Punj Lloyd (3.37%) at Rs284.00, Praj Indus by (2.26%) at Rs124.30, L&T Ltd (2.07%) at Rs2,393.90 and Usha Martin by (1.92%) at Rs50.45.
From the telecommunication sector, Reliance Com Ltd is trading higher by (2.68%) at Rs335.15, along with Bharti Airtel is trading up by (1.26%) at Rs759.70, while Tata Communications is trading down by (1.91%) at Rs462.30 and Idea Cellular by (0.78%) at Rs70.20.
In auto sector M&M Ltd is higher by (3.44%) at Rs521.00 along with, Maruti Suzuki is up by (2.90%) at Rs682.10, Hero Honda Motors by (0.20%) at Rs847.95 while Tata Motors is trading down by (2.89%) at Rs344.35.
From cement sector by Ambuja Cements is trading up by (2.31%) at Rs79.65, followed by ACC Ltd trading higher by (0.14%) at Rs614.00 while Grasim Indus is down by (3.00%) at Rs1,680.00.
ICICI Bank is trading higher by ((4.80%) at Rs517.00 as Mr. K.V. Kamath, MD and CEO of ICICI bank has falsified rumors about financial strength of bank as baseless and malicious. As per the ICICI bank management the bank has a very strong capital position with a net worth of Rs.47,000 Crore ($ 10 billion). The bank''s capital adequacy ratio is at a healthy 13.4%, which is above the regulatory requirement of 9%. This level of CAR is among the highest levels in the banking industry.
At 1.30PM, the BSE Sensex is trading higher by 280.00 points at 12,875.76 and NSE Nifty is up by 73.84 points at 3,923.90.
The BSE Mid Cap is trading higher by 16.39 points at 4,745.73 while Small cap is trading lower by 44.70 points at 5,508.25.
Gainers from the BSE are TCS Ltd up by (7.15%) at Rs663.95 along with JP Associates (5.30%) at Rs112.35, HDFC (5.27%) at Rs2,139.90, ICICI Bank Ltd (4.80%) at Rs517.00, BHEL (4.77%) at Rs1,581.50, Satyam Computer (4.68%) at Rs306.25 and SBI by (4.62%) at Rs1,469.90.
The BSE Bank index is trading higher by 213.29 points at Rs6,388.39. Scrips trading up are IDBI Bank Ltd (6.03%) at Rs75.65 followed by ICICI Bank Ltd by (4.69%) at Rs516.45, SBI (4.47%) at Rs1,467.75, Axis Bank (4.02%) at Rs698.60 and Union Bank by (3.65%) at Rs143.25.
The BSE Capital Goods index is trading up by 158.66 points at Rs10,429.26. Major gainers are BHEL (4.76%) at Rs1,581.40 followed by Punj Lloyd (3.37%) at Rs284.00, Praj Indus by (2.26%) at Rs124.30, L&T Ltd (2.07%) at Rs2,393.90 and Usha Martin by (1.92%) at Rs50.45.
From the telecommunication sector, Reliance Com Ltd is trading higher by (2.68%) at Rs335.15, along with Bharti Airtel is trading up by (1.26%) at Rs759.70, while Tata Communications is trading down by (1.91%) at Rs462.30 and Idea Cellular by (0.78%) at Rs70.20.
In auto sector M&M Ltd is higher by (3.44%) at Rs521.00 along with, Maruti Suzuki is up by (2.90%) at Rs682.10, Hero Honda Motors by (0.20%) at Rs847.95 while Tata Motors is trading down by (2.89%) at Rs344.35.
From cement sector by Ambuja Cements is trading up by (2.31%) at Rs79.65, followed by ACC Ltd trading higher by (0.14%) at Rs614.00 while Grasim Indus is down by (3.00%) at Rs1,680.00.
ICICI Bank is trading higher by ((4.80%) at Rs517.00 as Mr. K.V. Kamath, MD and CEO of ICICI bank has falsified rumors about financial strength of bank as baseless and malicious. As per the ICICI bank management the bank has a very strong capital position with a net worth of Rs.47,000 Crore ($ 10 billion). The bank''s capital adequacy ratio is at a healthy 13.4%, which is above the regulatory requirement of 9%. This level of CAR is among the highest levels in the banking industry.
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