Tuesday, October 14, 2008

Markets Pare-Off Earlier Gains - Oct 14, 2008

Markets pare-off earlier gains on account of profit booking. Various stocks of benchmark indices witnessed a heavy buying activity during the early hours as sentiments turned bullish after governments across the world tried to keep financial system ease by infusing fresh liquidity. However, this is not sufficient to brush up the investor’s confidence as most of the investors willing to book the profit before any damage happens to their funds.

On a secotral front IT stocks are trading up by 6.06%, along with Realty by 4.90%, HealthCare by 4.17% and Capital Goods 4.07%. Market breadth is positive as 1801 stocks are trading in green territory while 695 stocks are trading in red along with 49 remain unchanged.

At 1.30PM, the BSE Sensex is trading higher by 307 points at 11616.15 and NSE Nifty is up by 69 points at 3559.7.

The BSE Mid Cap is trading higher by 105 points at 3935.66 and Small cap is trading up by 162 points at 4676.5.

Gainers from the BSE are Satyam Computer up by (8.69%) at Rs292.55 along with Wipro Ltd (6.32%) at Rs301.3, Tata Power (6.30%) at Rs839.95, Reliance Infrastructure (5.87%) at Rs636.95, Jaiprakash Associates (5.75%) at Rs85.45, ICICI Bank (5.72%) at Rs449.4 and TCS by (5.58%) at Rs607.95.

The BSE Capital Goods index is trading up by 348.77 points at 9124.89. Major gainers are Usha Martin by (16.98%) at Rs44.10 followed by Reliance Industries Infra by (14.81%) at Rs465.00, AIA ENGIN by (11.56%) at Rs216.60, Havells India by (9.93%) at Rs243.50 and Suzlon energy by (7.13%) at Rs115.00.

The BSE IT index is trading higher by 178.07 points at 2968.49. Scrips trading up are Rolta India by (19.66%) at Rs197.50 followed by Patni Comp Ltd by (11.32%) at Rs169.70, Financial Technologies (8.72%) at Rs812.00, Satyam Comp by (8.69%) at Rs292.55 and Wipro Ltd by (6.56%) at Rs302.00.

The BSE Oil & Gas index is trading up by 176.53 points at 7726.29. Major gainers are Essar Oil by (6.19%) at Rs122.60 followed by Reliance natural by (6.04%) at Rs60.60, Reliance Ind by (4.36%) at Rs1638.80 and Aban Offshore by (3.83%) at Rs1250.00.

During the session Satyam computer is trading higher by (8.69%) at Rs292.55 after a clarification made by the company on a news of world bank has prevented Satyam computers from bidding on offshore contracts due to its involvement in computer intrusions. Going ahead, company has said that it was not black listed by the World Bank from bidding for offshore contracts.

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