The market catches up with a rally in stock market across the globe. The US Federal Reserve’s steep cut in interest rates and government across the globe were cutting rates to tackle financial crisis boosted the moral of investors in domestic market. Further, a steady decline in inflation for the fifth successive week and reports that the government might take initiatives to pump in liquidity in the financial system added to the positive sentiments.
On the sectoral front, trader’s on-load positions across the sectors. Bank stocks spurted due to fall in inflation and hope that government might go for further rate cuts. IT stocks jumped on rise in American depository receipts (ADR). Metal and Oil & Gas stocks rallied as these were hammered brutally in the past few weeks of trading.
The market breadth, indicating the overall strength of the market, was positive. On BSE, out of 2420 shares, 1501 shares advanced while 846 shares declined. Nearly 73 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 560.67 points at 9605.18 and NSE Nifty is up by 137.09 points at 2834.15.
The BSE Mid Cap is trading higher by 65.42 points at 3159.9 and Small cap is trading higher by 75.83 points at 3750.45.
Gainers from the BSE Sensex Pack are Housing Development Finance up by (13.92%) at Rs.1711.20 along with M&M Ltd by (13.50%) at Rs.343.35, Tata Power by (11.10%) at Rs.685.00, ICICI Bank (10.77%) at Rs.383.00, Reliance Industries (10.25%) at Rs.1327.80, Sterlite Ind by (9.13%) at Rs.269.00 and TCS by (8.11%) at Rs.586.50.
The BSE Oil & Gas index is up by 446.85 points at 6125.18. Gainers are Aban Offshore (12.41%) at Rs.790.00, Cairn India (10.77%) at Rs.129.10, Reliance Industries Ltd (10.25%) at Rs.1327.80, Essar Oil (7.38%) at Rs.80.80 and Reliance Petroleum (6.92%) at Rs.86.50.
The BSE IT index is up by 168.27 points at 2874.04. Scrips trading higher are HCL Tech up by (12.26%) at Rs.169.90 along with Rolta Ind by (8.71%) at Rs.176.00, TCS by (8.11%) at Rs.586.50, Wipro by (7.90%) at Rs.276.60, Satyam Computer by (6.76%) at Rs.302.40, and Oracle by (6.13%) at Rs.592.50.
The BSE Metal index is up by 287.10 points at 5157.97. Scrips trading higher are Jindal Steel up by (12.62%) at Rs.776.00 along with JSW Steel by (12.56%) at Rs.258.50, Sterlite by (9.13%) at Rs.269.00, Tata steel by (8.30%) at Rs.202.90, Hindalco by (7.15%) at Rs.56.95 and Welsp Guj by (5.38%) at Rs.111.60.
On the sectoral front, trader’s on-load positions across the sectors. Bank stocks spurted due to fall in inflation and hope that government might go for further rate cuts. IT stocks jumped on rise in American depository receipts (ADR). Metal and Oil & Gas stocks rallied as these were hammered brutally in the past few weeks of trading.
The market breadth, indicating the overall strength of the market, was positive. On BSE, out of 2420 shares, 1501 shares advanced while 846 shares declined. Nearly 73 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 560.67 points at 9605.18 and NSE Nifty is up by 137.09 points at 2834.15.
The BSE Mid Cap is trading higher by 65.42 points at 3159.9 and Small cap is trading higher by 75.83 points at 3750.45.
Gainers from the BSE Sensex Pack are Housing Development Finance up by (13.92%) at Rs.1711.20 along with M&M Ltd by (13.50%) at Rs.343.35, Tata Power by (11.10%) at Rs.685.00, ICICI Bank (10.77%) at Rs.383.00, Reliance Industries (10.25%) at Rs.1327.80, Sterlite Ind by (9.13%) at Rs.269.00 and TCS by (8.11%) at Rs.586.50.
The BSE Oil & Gas index is up by 446.85 points at 6125.18. Gainers are Aban Offshore (12.41%) at Rs.790.00, Cairn India (10.77%) at Rs.129.10, Reliance Industries Ltd (10.25%) at Rs.1327.80, Essar Oil (7.38%) at Rs.80.80 and Reliance Petroleum (6.92%) at Rs.86.50.
The BSE IT index is up by 168.27 points at 2874.04. Scrips trading higher are HCL Tech up by (12.26%) at Rs.169.90 along with Rolta Ind by (8.71%) at Rs.176.00, TCS by (8.11%) at Rs.586.50, Wipro by (7.90%) at Rs.276.60, Satyam Computer by (6.76%) at Rs.302.40, and Oracle by (6.13%) at Rs.592.50.
The BSE Metal index is up by 287.10 points at 5157.97. Scrips trading higher are Jindal Steel up by (12.62%) at Rs.776.00 along with JSW Steel by (12.56%) at Rs.258.50, Sterlite by (9.13%) at Rs.269.00, Tata steel by (8.30%) at Rs.202.90, Hindalco by (7.15%) at Rs.56.95 and Welsp Guj by (5.38%) at Rs.111.60.
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