Monday, September 8, 2008

Markets Are Trading Firm - Sep 8, 2008

Markets are trading firm after a strong opening on the supportive cues from Asian markets along with nuclear waver for India paving way for new sources of power. BSE Sensex and NSE Nifty both are trading with gap up of more than 3% due to the huge buying support across the board. Capital Goods, Bank, Oil & Gas, Metal, Reality and Power stocks are contributing to the most of buying support. Scrips from Midcap and Smallcap segments are also rising sharply. The market breadth is positive as 1689 stocks are trading in green while 583 stocks are in red.

At 11.30AM, BSE Sensex is trading higher by 572.07 points at 15,055.91 and NSE Nifty is trading up 161.59 at 4,513.90. The BSE Mid Cap and BSE Small Cap are trading higher by 108.23 points and 113.75 points at 5,861.96 and 7,018.98 respectively.

Gainers from the NSE Nifty are Reliance Infra up by (7.72%) at Rs1,095.55 along with ICICI Bank Ltd (6.92%) at Rs734.25, Tata Comm Ltd (6.67%) at Rs453.95, Power Grid Corp (6.34%) at Rs98.95, NTPC Ltd (6.17%) at Rs184.20, L&T Ltd (5.92%) at Rs2,771.00 and BHEL by (5.82%) at Rs1,833.10.

The BSE Capital Goods index is trading higher by 579.18 points at Rs12,559.78 as Alstom Proje is trading up by (7.92%) at Rs427.95 along with Wallchand In (7.88%) at Rs286.95, Areva by (5.79%) at Rs1,719.00, L&T Ltd (5.79%) at Rs2,767.80 and BHEL (5.51%) at Rs1,827.25.

The BSE Bank index is trading up by 346.84 points at Rs7,519.69. Scrips trading higher are ICICI Bank Ltd (6.82%) at Rs734.00 followed by ICICI Bank Ltd by (4.94%) at Rs1,309.00, Axis Bank (4.87%) at Rs720.00, Kotak Bank (4.53%) at Rs632.00 and Union Bank by (4.51%) at Rs1,587.00.

NTPC Ltd is trading higher by (6.37%) at Rs184.50. As the company has signed a MoU with Swiss Agency for Development and Cooperation to formulate a long term strategy for technology up gradation and implementation of Renewable Energy and Distributed Generation Projects. Grant of NSG waiver for India is also contributing to the strong attitude

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