The markets today made a sharp turnaround from the yesterday’s lows and open significantly higher backed by the news of CRR cut by 50 basis points to 8.50% will be implemented from October 11. Further the sharp recovery in the Asian markets also added to the positive sentiments. The significant buying witnessed across the board mainly led by the Realty, Banking, Oil & Gas and Power stocks. However the FMCG Stocks are trading marginally lower.
The BSE Sensex is now trading above the 12100 mark and the NSE Nifty above the 3700 mark.
On the Global market front, the Asian markets made some recovery from the day’s lows as Nikkei 225 index down by 1.57% and Hang Seng index down by 4.97%.
The US stock market on Monday ended in deep red on concern over credit crises and financial worries. The Dow Jones closes below the 10000 mark for the first time in four years due to concern about the global financial crisis followed by the economic concern. The Dow Jones Industrial Average (DJIA) dropped by 157.47 points to close at 10,325.38. The NASDAQ Composite (RIXF) index decreased by 29.33 points to close at 1,947.39 and the S&P 500 (SPX) fell 15.05 points to close at 1,099.23.
The BSE Mid Cap and the BSE Small Cap stocks are however trading flat in the early trade.
The overall market breadth is positive as 1107 stocks are advancing whereas 572 stocks are declining on BSE.
ONGC reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (5.57%) at Rs.1,036 while ITC reported the top loser down by (3.05%) at Rs.174.60.
At 10.30AM, the BSE Sensex was up by 324.27 points at 12,125.97 and the Nifty was up by 114.20 points to 3,716.55.
The BSE Mid Cap increased by 80.09 points to 4,424.32 and the BSE Small Cap advanced by 77.56 points to 5,164.49.
BSE Realty index surged by 133.51 points or (4.45%) to trade at 3,133.50. The top gainers are Unitech increased by (6.08%) to Rs.107.25, HDIL up by (5.08%) to Rs.145.80, Ansal Infra inclined by (5.75%) to Rs.78.10 followed by Parsavnath grew by (4.17%) to Rs.82.50.
BSE Bank index improved by 248.95 points or (4.03%) to trade at 6,420.95. The major gainers are Bank of India, ICICI Bank, SBI and AXIS Bank grew by (4.78%), (4.56%), (4.17%) and (3.78%) to Rs.284.75, Rs.512.80, Rs.1,493.80 and Rs.703.75 respectively.
ONGC is trading higher by (5.57%) at Rs.1,036. The company would shortly sign a memorandum of understanding (MoU) with State-owned Uranium Corporation of India for exploration and mining of the fissile matter.
The BSE Sensex is now trading above the 12100 mark and the NSE Nifty above the 3700 mark.
On the Global market front, the Asian markets made some recovery from the day’s lows as Nikkei 225 index down by 1.57% and Hang Seng index down by 4.97%.
The US stock market on Monday ended in deep red on concern over credit crises and financial worries. The Dow Jones closes below the 10000 mark for the first time in four years due to concern about the global financial crisis followed by the economic concern. The Dow Jones Industrial Average (DJIA) dropped by 157.47 points to close at 10,325.38. The NASDAQ Composite (RIXF) index decreased by 29.33 points to close at 1,947.39 and the S&P 500 (SPX) fell 15.05 points to close at 1,099.23.
The BSE Mid Cap and the BSE Small Cap stocks are however trading flat in the early trade.
The overall market breadth is positive as 1107 stocks are advancing whereas 572 stocks are declining on BSE.
ONGC reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (5.57%) at Rs.1,036 while ITC reported the top loser down by (3.05%) at Rs.174.60.
At 10.30AM, the BSE Sensex was up by 324.27 points at 12,125.97 and the Nifty was up by 114.20 points to 3,716.55.
The BSE Mid Cap increased by 80.09 points to 4,424.32 and the BSE Small Cap advanced by 77.56 points to 5,164.49.
BSE Realty index surged by 133.51 points or (4.45%) to trade at 3,133.50. The top gainers are Unitech increased by (6.08%) to Rs.107.25, HDIL up by (5.08%) to Rs.145.80, Ansal Infra inclined by (5.75%) to Rs.78.10 followed by Parsavnath grew by (4.17%) to Rs.82.50.
BSE Bank index improved by 248.95 points or (4.03%) to trade at 6,420.95. The major gainers are Bank of India, ICICI Bank, SBI and AXIS Bank grew by (4.78%), (4.56%), (4.17%) and (3.78%) to Rs.284.75, Rs.512.80, Rs.1,493.80 and Rs.703.75 respectively.
ONGC is trading higher by (5.57%) at Rs.1,036. The company would shortly sign a memorandum of understanding (MoU) with State-owned Uranium Corporation of India for exploration and mining of the fissile matter.
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