Markets Pared Some Of Earlier Gains - Sep 2, 2008

rkets pared some of earlier gains but are still trading in positive territory. Domestic markets opened on firm note due to drop in crude oil to $111.22 a barrel. Most of the buying is seen in Bank, capital goods, Reality, Oil & Gas and Metal stocks. However, Pharma and Consumer Durable stocks are out of favour. The market breadth is positive as 1300 stocks are trading in green while 832 stocks are in red.

At 11.30AM, BSE Sensex is trading higher by 49.35 points at 14,547.87 and NSE Nifty is trading up 14.44 at 4,363.10. The BSE Mid Cap and BSE Small Cap are trading higher by 35.09 points and 42.13 points at 5,777.07 and 6,933.53 respectively.

Gainers from the NSE Nifty are BPCL up by (2.67%) at Rs309.95 along with ONGC (2.65%) at Rs1,058.50, PNB (2.12%) at Rs496.60, SBI (1.94%) at Rs1,433.05, Tata Power Co (1.64%) at Rs1,057.05, Unitech Ltd (1.64%) at Rs161.10 and ACC Ltd by (1.60%) at Rs572.75.

The BSE Bank index is trading up by 107.96 points at Rs7,129.31. Scrips trading higher are Kotak Bank (4.01%) at Rs617.00 followed by Bank of India by (2.83%) at Rs280.10, IOC (2.60%) at Rs92.90, PNB (2.36%) at Rs498.50 and Union Bank by (2.21%) at Rs148.30.

The BSE Capital Goods index is trading higher by 107.53 points at Rs11,971.31 as Wallchand In is trading up by (5.29%) at Rs276.75 along with Reliance Industrial Infra (3.15%) at Rs932.10, Gammon Indi by (2.49%) at Rs224.50, Jyoti Struct (2.03%) at Rs128.05 and Havells India (1.42%) at Rs357.95.

The BSE Reality index is trading up by 64.92 points at Rs5,064.90 as Orbit Co is trading higher by (11.03%) at Rs289.50 along with Anant Raj In (5.44%) at Rs158.00, Housing Deve (2.43%) at Rs287.05, Unitech Ltd (1.93%) at Rs161.35 and Sobha Dev by (1.76%) at Rs296.00.