The market marches further to gain grounds on heavy buying across the sectoral indices. The fall in weekly inflation figures to 10.68% and aggressive rate cuts by global central banks to help cushion a worldwide economic downturn gives a boost to the investors sentiments. Also, the rally across the global markets also added to the positive sentiments.
The government today approved the much-awaited comprehensive insurance bill that seeks to raise foreign direct investment cap in private sector to 49% from 26%, and the bill would be tabled in the Parliament in December
At 11.33 AM, the BSE Sensex is trading with gains of 629.23 points at 9,673.74 and NSE Nifty is trading up by 154.2 points at 2,851.25. The BSE Mid cap and Small Cap are trading higher by 68.93 point and 86.46 points at 3,163.41 and 3,761.07 respectively.
Leading the rally of the gainers from BSE Group A are India Infoline up by 15.89% at Rs52.50 followed by Tata Communication by 13.65% at Rs467, Deccan Chr by 13.24% at Rs47.05, HDFC by 13.20% at Rs1700.30 and Crompton Greaves by 12.76% at Rs163.50.
The Metal index is trading with gains of 402.35 points at 5,273.22. Pushing it are Nalco trading up by 12.21% at Rs166.80 along with Jindal Steel by 12.04% at Rs772, Welspun Gujarat SR by 11.57% at Rs118.15, Tata Steel by 10.49% at Rs207, Hindalco Industries by 10.07% at Rs58.50, Sterlite Industries by 9.63% at Rs270.25, JSW Steel by 7.34% at Rs246.50 and Jai Corp by 5% at Rs142.80.
From the Bankex index, leading the rally are ICICI bank trading with gains of 10.79% at Rs383.05 in line with HDFC bank by 10.43% at Rs1044.20, BOI by 7.37% at Rs239.05, Kotak bank by 6.70% at Rs348, Yes bank by 6.25 at Rs66.30, IOB by 5.10% at Rs74.15, Canara bank by 5.09% at Rs165.25, SBI by 4.84% at Rs1154 and Allahabad bank by 4.47% at Rs50.30 and Axis bank by 4.36% at Rs550.80.
Nalco is trading higher by 12.21% at Rs166.80 as the company posted a growth of 1.08% in net profit to Rs444.46 crore for the quarter ended September 2008 as against Rs439.73 crore reported during the same period last year. The total income grew by 12.36% to Rs1654.50 crore as compared to Rs1472.54 crore last year.
Tata Communications is trading with a gain of 13.10% at Rs465. The company recently announced the launch of first security Compliance Consortium to simplify the process of meeting compliance needs for the banking and finance sector. The newly formed consortium will help banks with a suite of services that address all key IBTRM requirements, including consultancy services, project management, encryption and confidentiality, distributed denial of service (DDOS) attacks, forensics, source code review and data integrity.
Idea Cellular is up by 9.07% to trade at Rs42.1. The company’s board gave its in principle approval to demerge the unified access service licences of Punjab and Karnataka inorder to avoid overlapping of spectrum allocated after the company acquired Spice Communications.
The government today approved the much-awaited comprehensive insurance bill that seeks to raise foreign direct investment cap in private sector to 49% from 26%, and the bill would be tabled in the Parliament in December
At 11.33 AM, the BSE Sensex is trading with gains of 629.23 points at 9,673.74 and NSE Nifty is trading up by 154.2 points at 2,851.25. The BSE Mid cap and Small Cap are trading higher by 68.93 point and 86.46 points at 3,163.41 and 3,761.07 respectively.
Leading the rally of the gainers from BSE Group A are India Infoline up by 15.89% at Rs52.50 followed by Tata Communication by 13.65% at Rs467, Deccan Chr by 13.24% at Rs47.05, HDFC by 13.20% at Rs1700.30 and Crompton Greaves by 12.76% at Rs163.50.
The Metal index is trading with gains of 402.35 points at 5,273.22. Pushing it are Nalco trading up by 12.21% at Rs166.80 along with Jindal Steel by 12.04% at Rs772, Welspun Gujarat SR by 11.57% at Rs118.15, Tata Steel by 10.49% at Rs207, Hindalco Industries by 10.07% at Rs58.50, Sterlite Industries by 9.63% at Rs270.25, JSW Steel by 7.34% at Rs246.50 and Jai Corp by 5% at Rs142.80.
From the Bankex index, leading the rally are ICICI bank trading with gains of 10.79% at Rs383.05 in line with HDFC bank by 10.43% at Rs1044.20, BOI by 7.37% at Rs239.05, Kotak bank by 6.70% at Rs348, Yes bank by 6.25 at Rs66.30, IOB by 5.10% at Rs74.15, Canara bank by 5.09% at Rs165.25, SBI by 4.84% at Rs1154 and Allahabad bank by 4.47% at Rs50.30 and Axis bank by 4.36% at Rs550.80.
Nalco is trading higher by 12.21% at Rs166.80 as the company posted a growth of 1.08% in net profit to Rs444.46 crore for the quarter ended September 2008 as against Rs439.73 crore reported during the same period last year. The total income grew by 12.36% to Rs1654.50 crore as compared to Rs1472.54 crore last year.
Tata Communications is trading with a gain of 13.10% at Rs465. The company recently announced the launch of first security Compliance Consortium to simplify the process of meeting compliance needs for the banking and finance sector. The newly formed consortium will help banks with a suite of services that address all key IBTRM requirements, including consultancy services, project management, encryption and confidentiality, distributed denial of service (DDOS) attacks, forensics, source code review and data integrity.
Idea Cellular is up by 9.07% to trade at Rs42.1. The company’s board gave its in principle approval to demerge the unified access service licences of Punjab and Karnataka inorder to avoid overlapping of spectrum allocated after the company acquired Spice Communications.
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