Market trading in positive on hopes of recovery from the liquidity crisis as government all over the globe is infusing liquidity to keep growth as priority on recession. Looking forward announcement of bailout package for Citigroup has triggered other sectors along with financial to get some relief package form the government. In domestic market, the investors are expecting further rate cuts by RBI in order to infuse liquidity in the market.
On the sectoral front, traders on-loaded positions across the sectors. Metal shares gained on hopes of getting fresh orders, as government has increased its spending to its infrastructure projects and on hopes that the worst of the financial crisis might finally be over after the US government announcement of bailout package. Further, power stocks gained on reports they are exploring for coal assets in Indonesia after the shock prices of major mines there witnessed steep erosion following the global financial turmoil.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2363 shares traded so far, 1252 shares advanced while 1022 shares declined. Nearly 89 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 55.45 points at 8,958.58 and NSE Nifty is up by 27.5 points at 2,735.75.
The BSE Mid Cap is trading higher by 16.17 points at 2,918.46 and Small cap is trading up by 12.96 points at 3,376.92.
Gainers from the BSE Sensex Pack are ONGC up by (3.59%) at Rs.703.35 along with HDFC Bank Ltd by (3.30%) at Rs.858.95, wipro Ltd by (3.06%) at Rs.240.80, Bharti Airtel by (3.01%) at Rs.655.15, NTPC by (2.64%) at Rs.157.25 and Rel Infra by (2.57%) at Rs.517.55.
The BSE Consumer Durables index is up by 57.50 points at 1,809.40. Stocks trading higher are Blue Star up by (4.19%) at Rs.158.00 along with Gitanjali Gems by (4.13%) at Rs.63.00, Titan Ind by (3.91%) at Rs.887.05 and Rajesh Exports by (0.68%) at Rs.22.15.
The BSE Power index is up by 42.21 points at 1,661.65. GVK Power higher by (10.56%) at Rs.16.65 along with Lanco Infra by (7.48%) at Rs.125.00, GMR Infra by (6.23%) at Rs.56.30, Tornt Power by (3.42%) at Rs.72.65 and Tata Power by (3.22%) at Rs.674.50.
Oil & Natural Gas Corporation (ONGC) gained 3.59% to Rs. 703.35, on oil discovery in an oil block in an eastern offshore acreage in Andhra Pradesh it had got from government on nomination basis.
On the sectoral front, traders on-loaded positions across the sectors. Metal shares gained on hopes of getting fresh orders, as government has increased its spending to its infrastructure projects and on hopes that the worst of the financial crisis might finally be over after the US government announcement of bailout package. Further, power stocks gained on reports they are exploring for coal assets in Indonesia after the shock prices of major mines there witnessed steep erosion following the global financial turmoil.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2363 shares traded so far, 1252 shares advanced while 1022 shares declined. Nearly 89 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 55.45 points at 8,958.58 and NSE Nifty is up by 27.5 points at 2,735.75.
The BSE Mid Cap is trading higher by 16.17 points at 2,918.46 and Small cap is trading up by 12.96 points at 3,376.92.
Gainers from the BSE Sensex Pack are ONGC up by (3.59%) at Rs.703.35 along with HDFC Bank Ltd by (3.30%) at Rs.858.95, wipro Ltd by (3.06%) at Rs.240.80, Bharti Airtel by (3.01%) at Rs.655.15, NTPC by (2.64%) at Rs.157.25 and Rel Infra by (2.57%) at Rs.517.55.
The BSE Consumer Durables index is up by 57.50 points at 1,809.40. Stocks trading higher are Blue Star up by (4.19%) at Rs.158.00 along with Gitanjali Gems by (4.13%) at Rs.63.00, Titan Ind by (3.91%) at Rs.887.05 and Rajesh Exports by (0.68%) at Rs.22.15.
The BSE Power index is up by 42.21 points at 1,661.65. GVK Power higher by (10.56%) at Rs.16.65 along with Lanco Infra by (7.48%) at Rs.125.00, GMR Infra by (6.23%) at Rs.56.30, Tornt Power by (3.42%) at Rs.72.65 and Tata Power by (3.22%) at Rs.674.50.
Oil & Natural Gas Corporation (ONGC) gained 3.59% to Rs. 703.35, on oil discovery in an oil block in an eastern offshore acreage in Andhra Pradesh it had got from government on nomination basis.
No comments:
Post a Comment