Monday, November 3, 2008

Indices Continue To Trade High With Positive Markets - Nov 03, 2008

The benchmark indices continue to trade high with positive note from Asian markets and further infusing of liquidity by RBI. Post RBI’s move the commercial banks are expected to reduce the interest rate in next few days, which in turn will boost the sentiments of the interest sensitive industries as well as investors in the market. Further, all eyes will be on the US presidential election, hoping for some positive moves for Indian companies in US.

The heavyweight in the sectors like Capital Goods, Bankex, Oil & Gas and Metal are trading higher. The market breadth is positive as 1791 stocks are trading in green and about 414 stocks in red on the broader BSE.

At 11.30 AM, BSE Sensex is trading positive by 454 points at 10242 and NSE Nifty is trading up by 122 points at 3007. The BSE Mid Cap and BSE Small Cap are gaining by 136 points and 172 points at 3336 and 3937 respectively.

Gainers from the NSE Nifty Pack are Tata Motors Ltd up by (13.12%) at Rs191.80 along with Idea Cellular by (12.81%) at Rs48.00, Tata Comm by (12.38%) at Rs545.00, Reliance infra by (10.56%) at Rs505.80, and ICICI bank by (10.02%) at Rs438.70.

Gainers from the BSE Sensex Pack are Tata Motors Ltd up by (11.58%) at Rs191.70 along with Reliance Infra by (11.08%) at Rs507.35, DLF Ltd by (9.88%) at Rs242.00, ICICI Bank by (9.68%) at Rs438.00, and SBI by (9.63%) at Rs1216.35.

BSE Capital Goods index is gaining by 427 points at 7445.52. The major gainers are Reliance Industrial Infra up by (12.93%) to Rs.377.20, Punj Lloyd trading higher by (9.36%) to Rs.191.10, Elecon Eng up by (8.64%) to Rs.40.85, Siemens Ltd by (7.22%) to Rs.280.00, followed by Crompton Greave increased by (6.81%) to Rs.163.10.

BSE Bankex index is trading higher by 371.28 points at 5382.52. The top gainers in the index are Federal Bank increased by (12.18%) to Rs.143.65, Yes Bank up by (10.53%) to Rs75.05, ICICI bank by (9.43%) at Rs.437.00, SBI by (8.90%) to Rs1208.20 followed by Kotak Bank surged by (8.83%) to Rs.366.65.

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