The markets started the day with positive gap tracking gains from some Asian markets. Sentiments also lifted by the measures, which regulators around the world took to support the troubled financial system. Countries all over the world are planning emergency measures to recapitalize banks, guarantee deposits and stabilize the financial system due to the fears of global meltdown. All the sectorial indices are trading in green and most of the buying is seen in Bank, Metal, Capital Goods, Oil & Gas and Consumer Durables stocks.
Friday US stock market rallied back and ended mostly lower after an extremely volatile session. Sharp rise during the final trading session lifted S&P 500 from a 7.3% loss to a 1.2% loss. Credit markets continued to remain tight along with high economic fears. While, US President, George W Bush, revamped efforts to assure the investors about US Government’s efforts like various monetary and regulatory steps taken by the US Federal Reserve and the SEC, to cope with the credit crisis.
The BSE Mid Cap and the BSE Small Cap stocks are also contributing to the buying sentiments in the early trade.
The overall market breadth is positive as 1284 stocks are advancing whereas 607 stocks are declining on BSE.
ICICI Bank Ltd reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (16%) at Rs.422.35 while only one loser is HDFC as it is trading with loss of (0.83%) at Rs.1,705.
At 10.30AM, the BSE Sensex was up by 374 points at 10,901.94 and the Nifty was higher by 93.2 points to 3,373.15.
The BSE Mid Cap increased by 97.8 points to 3,773.87 and the BSE Small Cap advanced by 118 points to 4,473.52.
BSE Bank index is trading higher by 420.22 points to trade at 5,739.32. The top gainers are ICICI Bank increased by (16.67%) to Rs.424.8, Axis Bank up by (10.12%) to Rs.608.2, Yes Bank by (7.44%) to Rs.76.55 followed by Indus Ind Bank advanced by (7.33%) to Rs.46.10.
BSE Metal index gained 244 points to trade at 6,786.57. The major gainers are Gujarat NRE C, JSW Steel, SAIL and Hindalco increased by (10%), (6.97%), (5.94%) and (5.70%) to Rs.34.1, Rs.317.5, Rs.115.1 and Rs.85.25 respectively.
Friday US stock market rallied back and ended mostly lower after an extremely volatile session. Sharp rise during the final trading session lifted S&P 500 from a 7.3% loss to a 1.2% loss. Credit markets continued to remain tight along with high economic fears. While, US President, George W Bush, revamped efforts to assure the investors about US Government’s efforts like various monetary and regulatory steps taken by the US Federal Reserve and the SEC, to cope with the credit crisis.
The BSE Mid Cap and the BSE Small Cap stocks are also contributing to the buying sentiments in the early trade.
The overall market breadth is positive as 1284 stocks are advancing whereas 607 stocks are declining on BSE.
ICICI Bank Ltd reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (16%) at Rs.422.35 while only one loser is HDFC as it is trading with loss of (0.83%) at Rs.1,705.
At 10.30AM, the BSE Sensex was up by 374 points at 10,901.94 and the Nifty was higher by 93.2 points to 3,373.15.
The BSE Mid Cap increased by 97.8 points to 3,773.87 and the BSE Small Cap advanced by 118 points to 4,473.52.
BSE Bank index is trading higher by 420.22 points to trade at 5,739.32. The top gainers are ICICI Bank increased by (16.67%) to Rs.424.8, Axis Bank up by (10.12%) to Rs.608.2, Yes Bank by (7.44%) to Rs.76.55 followed by Indus Ind Bank advanced by (7.33%) to Rs.46.10.
BSE Metal index gained 244 points to trade at 6,786.57. The major gainers are Gujarat NRE C, JSW Steel, SAIL and Hindalco increased by (10%), (6.97%), (5.94%) and (5.70%) to Rs.34.1, Rs.317.5, Rs.115.1 and Rs.85.25 respectively.
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