Recovery in Asian stocks on decision by Bank of Japan to keep the interest rate unchanged, decision by two biggest home loan finance companies to restrict the wave of dislodgement and home losses in the US, also recovery in inflation numbers in India has raised hopes that the central bank might cut interest rates further to guard the domestic economy from the global economic turbulence and boost liquidity.
On the sectoral front, traders on-loaded positions across the sectors except Realty and Consumer durables. Most of the IT stocks rose as a weaker rupee offset weak American Depository Receipts (ADR’s). Banking stocks gained amidst volatility on hopes of a further cut in interest rates on easing inflation. Infrastructure stocks rose on reports the finance ministry is considering a further relaxation in overseas borrowing norms for infrastructure companies. Realty stock plunged, as investors resorted to heavy selling on sustained concerns about volatility of funds.
The Market breadth, indicating the overall strength of the market, was negative. On BSE, out of 2398 shares traded so far, 994 shares advanced while 1316 shares declined. Nearly 88 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 212.39 points at 8663.41 and NSE Nifty is up by 60.84 points at 2614.
The BSE Mid Cap is trading lower by 13.8 points at 2881.98 and Small cap is trading down by 12.88 points at 3372.46.
Gainers from the BSE Sensex Pack are Sterlite In up by (6.31%) at Rs.213.15 along with TCS Ltd up by (6.26%) at Rs.498.90, Housing Development Finance Co by (5.75%) at Rs.1,364.00, State Bank of India by (4.53%) at Rs.1,142.00, BHEL by (4.34%) at Rs.1,246.00 and Bharti Airtel by (4.23%) at Rs.617.25.
The BSE IT index is higher by 85.35 points at 2,429.19. Stocks trading higher are TCS Ltd up by (6.26%) at Rs.498.90 along with Wipro Ltd by (3.89%) at Rs.228.15, Infosys Technologies by (3.88%) at Rs.1,171.00, Financ Techn by (2.79%) at Rs.617.50, and Satyam Comp by (2.70%) at Rs.239.70.
The BSE Realty index is down by 71.79 points at 1,607.27. Stocks trading lower are Unitech Ltd down by (12.23%) at Rs.30.85 along with DLF by (7.36%) at Rs.190.10, Omaxe Ltd by (7.33%) at Rs.44.90 and Housing Dev by (6.67%) at Rs.81.80.
On the sectoral front, traders on-loaded positions across the sectors except Realty and Consumer durables. Most of the IT stocks rose as a weaker rupee offset weak American Depository Receipts (ADR’s). Banking stocks gained amidst volatility on hopes of a further cut in interest rates on easing inflation. Infrastructure stocks rose on reports the finance ministry is considering a further relaxation in overseas borrowing norms for infrastructure companies. Realty stock plunged, as investors resorted to heavy selling on sustained concerns about volatility of funds.
The Market breadth, indicating the overall strength of the market, was negative. On BSE, out of 2398 shares traded so far, 994 shares advanced while 1316 shares declined. Nearly 88 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 212.39 points at 8663.41 and NSE Nifty is up by 60.84 points at 2614.
The BSE Mid Cap is trading lower by 13.8 points at 2881.98 and Small cap is trading down by 12.88 points at 3372.46.
Gainers from the BSE Sensex Pack are Sterlite In up by (6.31%) at Rs.213.15 along with TCS Ltd up by (6.26%) at Rs.498.90, Housing Development Finance Co by (5.75%) at Rs.1,364.00, State Bank of India by (4.53%) at Rs.1,142.00, BHEL by (4.34%) at Rs.1,246.00 and Bharti Airtel by (4.23%) at Rs.617.25.
The BSE IT index is higher by 85.35 points at 2,429.19. Stocks trading higher are TCS Ltd up by (6.26%) at Rs.498.90 along with Wipro Ltd by (3.89%) at Rs.228.15, Infosys Technologies by (3.88%) at Rs.1,171.00, Financ Techn by (2.79%) at Rs.617.50, and Satyam Comp by (2.70%) at Rs.239.70.
The BSE Realty index is down by 71.79 points at 1,607.27. Stocks trading lower are Unitech Ltd down by (12.23%) at Rs.30.85 along with DLF by (7.36%) at Rs.190.10, Omaxe Ltd by (7.33%) at Rs.44.90 and Housing Dev by (6.67%) at Rs.81.80.
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