Milled growth in US market, mix trade in Asian market and positive expectation against RBI in domestic market is attracting the investors back into the market and extended gains. Market is anticipating further rate cuts, by RBI in a week or so in an effort to ease liquidity and reduce borrowing costs to counter tackle slowing economic growth. Further, it is also predicting that the government will inject Rs.50,000 crore to give support on infrastructure projects that would be build through public-private partnership (PPP).
On the sectoral front, traders on-loaded positions in all of the sectors, except IT. Steel stocks rose after the government’s withdrawal of the full exemption of customs duty granter earlier on specified iron and steel items such as Pig iron, semi-finished products, flat products and long products. Consequently, they will be subject to a basic customs duty of 5% in order to protect domestic makers from cheaper imports. Moving ahead, the Banking stocks re-bounced as buzz of further rate cuts by RBI to insure liquidity in the system, despite weak American Depository Receipts (ADRs). Further, infrastructure stocks rose on hopes that government will focus on infrastructure projects in order to sustain the growth in the sector.
The market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2393 shares traded so far, 1056 shares advanced while 1265 shares declined. Nearly 72 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 177 points at 9114.2 and NSE Nifty is up by 48.90 points at 2732.05.
The BSE Mid Cap is trading higher by 3.13 points at 3063.46 and Small cap is trading down by 10.98 points at 3547.68.
Gainers from the BSE Sensex Pack are DLF Ltd up by (5.73%) at Rs.236.95 along with Sterlite In by (5.41%) at Rs.229.75, Reliance Industries up by (5.37%) at Rs.1,202.00, Maruti Suzuki by (5.06%) at Rs.538.70, M&M Ltd by (5.03%) at Rs.315.50 and Ranbaxy Labs by (4.73%) at Rs.222.50.
The BSE Realty index is up by 77.86 points at 1,916.73. Stocks trading higher are Indiabulls Realty up by (10.26%) at Rs.108.50 along with MahindraLife by (7.69%) at Rs.180.00, DLF Ltd by (4.42%) at Rs.234.00, Penland Ltd by (3.19%) at Rs.21.00 and Anant Raj by (3.72%) at Rs.46.00.
The BSE Oil & Gas index is up by 183.03 points at 5,755.05. Stocks trading higher are Reliance Industries up by (5.37%) at Rs.1,202.00 along with Cairn by (3.43%) at Rs.140.05, RNRL by (2.98%) at Rs.46.60 and RPL by (1.72%) at Rs.77.05.
The BSE FMCG index is up by 53.74 points at 1,891.82. Stocks trading higher are Unitd Spr up by (4.96%) at Rs.795.00, ITC Ltd by (4.42%) at Rs.167.80 and Marico by (4.21%) at Rs.50.80.
On the sectoral front, traders on-loaded positions in all of the sectors, except IT. Steel stocks rose after the government’s withdrawal of the full exemption of customs duty granter earlier on specified iron and steel items such as Pig iron, semi-finished products, flat products and long products. Consequently, they will be subject to a basic customs duty of 5% in order to protect domestic makers from cheaper imports. Moving ahead, the Banking stocks re-bounced as buzz of further rate cuts by RBI to insure liquidity in the system, despite weak American Depository Receipts (ADRs). Further, infrastructure stocks rose on hopes that government will focus on infrastructure projects in order to sustain the growth in the sector.
The market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2393 shares traded so far, 1056 shares advanced while 1265 shares declined. Nearly 72 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 177 points at 9114.2 and NSE Nifty is up by 48.90 points at 2732.05.
The BSE Mid Cap is trading higher by 3.13 points at 3063.46 and Small cap is trading down by 10.98 points at 3547.68.
Gainers from the BSE Sensex Pack are DLF Ltd up by (5.73%) at Rs.236.95 along with Sterlite In by (5.41%) at Rs.229.75, Reliance Industries up by (5.37%) at Rs.1,202.00, Maruti Suzuki by (5.06%) at Rs.538.70, M&M Ltd by (5.03%) at Rs.315.50 and Ranbaxy Labs by (4.73%) at Rs.222.50.
The BSE Realty index is up by 77.86 points at 1,916.73. Stocks trading higher are Indiabulls Realty up by (10.26%) at Rs.108.50 along with MahindraLife by (7.69%) at Rs.180.00, DLF Ltd by (4.42%) at Rs.234.00, Penland Ltd by (3.19%) at Rs.21.00 and Anant Raj by (3.72%) at Rs.46.00.
The BSE Oil & Gas index is up by 183.03 points at 5,755.05. Stocks trading higher are Reliance Industries up by (5.37%) at Rs.1,202.00 along with Cairn by (3.43%) at Rs.140.05, RNRL by (2.98%) at Rs.46.60 and RPL by (1.72%) at Rs.77.05.
The BSE FMCG index is up by 53.74 points at 1,891.82. Stocks trading higher are Unitd Spr up by (4.96%) at Rs.795.00, ITC Ltd by (4.42%) at Rs.167.80 and Marico by (4.21%) at Rs.50.80.
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