Markets Are Trading Firm - Sep 24, 2008

Markets are trading firm as US-India civilian nuclear cooperation agreement moved closer to approval by Congress on Tuesday. US Senate Foreign Relations Committee passed the Indo-US civilian nuclear deal with a majority of 19-2. With this first step is cleared and two steps are still pending as it is to be approved by House of Representatives. Drop in crude oil for November delivery by $2.76 also added to positive sentiment, to settle at $106.61 on the New York Mercantile Exchange. Most of the buying is seen in Bank, Capital Goods, Metal, Oil & Gas and Reality stocks. The market breadth is positive as 775 stocks are trading in red while 1284 stocks are in green.

At 11.25AM, BSE Sensex is trading higher by 174.17 points at 13,744.48 and NSE Nifty is trading up by 48.05 at 4,174.95. The BSE Mid Cap and BSE Small Cap are trading with gains of 50.72 points and 52.37 points at 5,164.03 and 6,145.34 respectively.

The markets will be closed between 11.25AM to 12.10PM on account of disruption of satellite services due to sun outage. The new trading timing are effective from today (24th September 2008) to 8 October 2008. Trading will start as usual at 9.55 IST, but will end at 16.15 IST.

Gainers from the NSE Nifty are Sterlite Indus up by (6.15%) at Rs477.05 along with HDFC Bank Ltd (3.75%) at Rs1,280.00, Tata Comm.Ltd (3.72%) at Rs477.00, Nalco (3.21%) at Rs411.00, ICICI Bank Ltd (3.13%) at Rs617.90, DLF Ltd (2.86%) at Rs406.00 and Suzlon Energy by (2.63%) at Rs198.70.

The BSE Capital Goods index is trading higher by 175.71 points at Rs11,395.41. Scrips trading up are Walchand In (4.79%) at Rs248.40 followed by Alstom Proje (2.56%) at Rs396.00, Thermax Ltd by (2.46%) at Rs440.80, Suzlon Energy (2.45%) at Rs198.25 and Areva by (1.93%) at Rs1,350.00.

The BSE Bank index is trading up by 179.60 points at Rs6,984.02 as Kotak Bank is trading higher by (4.83%) at Rs623.05 along with Allahabad Bank (3.74%) at Rs66.50, Indus Ind Bank (3.38%) at Rs55.00, HDFC Bank Ltd by (3.18%) at Rs1,277.05 and IDBI Bank Ltd (3.06%) at Rs80.90.

The BSE Metal index is trading higher by 156.87 points at Rs10,081.41. Scrips trading up are Sterlite Indus (6.28%) at Rs478.20 followed by Nalco by (3.78%) at Rs411.40, Jindal Saw (2.54%) at Rs622.10, Welspan Gujarat Sr (2.04%) at Rs254.85 and Hindalco by (1.53%) at Rs109.75.