The domestic market extended its gains and opened significantly higher following strong gains in overseas markets as US markets witnessed impressive rally and Asian markets are trading with significant gains. Global intervention has helped as governments across the world revealed more measures to maintain confidence in the troubled financial system. All the sectorial indices are trading in green and heavy buying is emerged in Metal, Capital Goods, Oil & Gas, Bank, Reality and IT stocks.
Friday US stock market witnessed impressive rally as the Dow Jones Industrial Average made its largest one-day intraday point gain ever and S&P 500 posted largest one day percent gain since 1938. This roll on was contributed by several governments steps to shore up the financial system along with completion of Morgan Stanley’s deal to receive a capital infusion from a Japanese bank. The Fed and other central banks have assured to inject unlimited liquidity into the system through short term lending.
The BSE Mid Cap and the BSE Small Cap stocks are also witnessing buying sentiments in the early trade and gained more than 4% each.
The overall market breadth is positive as 1581 stocks are advancing whereas 354 stocks are declining on BSE.
Wipro Ltd reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (10.74%) at Rs.313.85 while M&M Ltd is the top loser trading with a loss of (2.29%) at Rs.508.80.
At 10.32AM, the BSE Sensex was up by 481 points at 11,790.95 and the Nifty was higher by 123 points to 3,616.85.
The BSE Mid Cap increased by 172 points to 4003 and the BSE Small Cap advanced by 217 points to 4,731.21.
BSE Capital goods index is trading higher by 555.42 points to trade at 9,331.54. The top gainers are Usha Martin increased by (18.70%) to Rs.44.75, Reliance Industrial Infra up by (9.88%) to Rs.445, Havells India by (8.35%) to Rs.240 followed by Suzlon Energy advanced by (8.06%) to Rs.116.
BSE Bank index gained 322.17 points to trade at 6,296.01. The major gainers are Yes Bank trading higher by (9.67%) to Rs.86.75, ICICI Bank up by (9.15%) to Rs.464, Bank of India by (7.43%) to Rs.298.75 followed by Indus Ind Bank advanced by (7.10%) to Rs.49.75.
ICICI Bank is trading higher by (9.15%) at Rs464 as according to its CEO Bank has no subprime exposure. Mr KV Kamath reassured investors that the ICICI Bank remains well capitalized and has no subprime investments.
Friday US stock market witnessed impressive rally as the Dow Jones Industrial Average made its largest one-day intraday point gain ever and S&P 500 posted largest one day percent gain since 1938. This roll on was contributed by several governments steps to shore up the financial system along with completion of Morgan Stanley’s deal to receive a capital infusion from a Japanese bank. The Fed and other central banks have assured to inject unlimited liquidity into the system through short term lending.
The BSE Mid Cap and the BSE Small Cap stocks are also witnessing buying sentiments in the early trade and gained more than 4% each.
The overall market breadth is positive as 1581 stocks are advancing whereas 354 stocks are declining on BSE.
Wipro Ltd reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (10.74%) at Rs.313.85 while M&M Ltd is the top loser trading with a loss of (2.29%) at Rs.508.80.
At 10.32AM, the BSE Sensex was up by 481 points at 11,790.95 and the Nifty was higher by 123 points to 3,616.85.
The BSE Mid Cap increased by 172 points to 4003 and the BSE Small Cap advanced by 217 points to 4,731.21.
BSE Capital goods index is trading higher by 555.42 points to trade at 9,331.54. The top gainers are Usha Martin increased by (18.70%) to Rs.44.75, Reliance Industrial Infra up by (9.88%) to Rs.445, Havells India by (8.35%) to Rs.240 followed by Suzlon Energy advanced by (8.06%) to Rs.116.
BSE Bank index gained 322.17 points to trade at 6,296.01. The major gainers are Yes Bank trading higher by (9.67%) to Rs.86.75, ICICI Bank up by (9.15%) to Rs.464, Bank of India by (7.43%) to Rs.298.75 followed by Indus Ind Bank advanced by (7.10%) to Rs.49.75.
ICICI Bank is trading higher by (9.15%) at Rs464 as according to its CEO Bank has no subprime exposure. Mr KV Kamath reassured investors that the ICICI Bank remains well capitalized and has no subprime investments.
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