Tuesday, October 21, 2008

Global Cues Help Market Move Upward - Oct 21, 2008

The benchmark indices are trading strong following the global market reaction towards the stimulus package by FED and the government’s efforts to push down the short term lending rates. The policymakers are taking extreme measures to shore up markets and the economy against the global crisis. After these emphatic measures the sentiments are turning positive and may see some rallies in next few sessions. The sectors like Capital Goods, Oil & Gas, Bankex, Metal and IT are trading higher. The market breadth is Positive as 1355 stocks where trading in green and about 681 stocks in red on the broader BSE.

At 11.30 AM, BSE Sensex is trading positive by 360 points at 10583 and NSE Nifty is trading up by 96 points at 3218. The BSE Mid Cap and BSE Small Cap are gaining by 75 points and 80.6 points at 3581 and 4193.45 respectively.

Gainers from the BSE Sensex Pack are Jaiprakash Associates up by (13.15%) at Rs76.6 along with Sterlite ind up by (7.22%) at Rs291.00, Reliance Infra by (7.15%) at Rs516.00, TCS by (6.66%) at Rs530.25, and ICICI Bank by (6.58%) at Rs438.15.

Gainers from the NSE Nifty Pack are TCS Ltd up by (8.68%) at Rs534.00 along with Suzlon Energy up by (8.43%) at Rs92.00, ICICI bank by (7.45%) at Rs442.00, Reliance Infra by (7.22%) at Rs514.00 and Sterlite Ind by (7.14%) at Rs291.1.

BSE Capital Goods index gained by 300 points at 7471.20. The major gainers are up by Suzlon Energy by (7.91%) to Rs.91.45, Jyoti Structure trading up by (7.16%) to Rs.59.10, Praj Ind up by (6.79%) to Rs.81.00, Alstom Proj by (5.86%) to Rs.242.00, followed by SKF India up by (5.47%) to Rs.171.75.

BSE Oil & Gas index is trading higher by 273 points to at 6795.79. The top gainers are Essar oil increased by (6.85%) to Rs.92.05, Reliance Ind up by (5.68%) to Rs1396.25, Aban Offshore by (5.49%) at Rs1125.25, Cairn India ltd by (5.44%) to Rs171.45 followed by GAIL India rose by (4.15%) to Rs.245.80.

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