The market is trading with descenet gains backed by handsome buying from the Oil & Gas and Bankex baskets. The market inched up higher as the investors showed some more buying interest from the selective indices. The market opened on a positive note tracking the step taken by US Federal Reserve to boost the economy. Fed has planned to purchase $600 billion in direct obligations and mortgage-backed securities. Besides that Fed will also lend $200 billion in Assets Backed Securities Loan to help facilitate the issuance of asset-backed securities. The new $US 800 billion Fed package has brought some shine in the stock markets as well as helped to push oil prices.
The banking stocks are witnessing most buying on the back of reports that Banks operating in India including foreign ones may soon be able to open new branches and set up automated teller machines (ATM) without a licence from the Reserve Bank of India (RBI). From the sectoral front, Oil & gas along with Bankex indices are attracting the investors’ confidence as they are up by 3.25% and 3.01% respectively while Auto index is down by 1.18%.
On the global market front, the European Markets are trading in negative as Dax Index is trading lower by 1.39% and FTSE 100 down by 1.65%.
The broader markets are trading weak as the BSE Mid Cap and Small Cap are trading with losses of 19.53 points or (0.68%) and 34.61 points or (1.04%) at 2,853.06 and 3,298.81 respectively.
The overall market breadth is negative as 1246 stocks are declining while 761 stocks are advancing in BSE.
Sterlite Industries reported the top gainer from the BSE Sensex pack. It is trading up by (9.24%) at Rs.223.55 while M&M reported as the top loser trading down by 4.21% at Rs.265.
At 2.35PM, BSE Sensex is at 8,936.68 up by 241.15 points and NSE Nifty is at 2,724.75 up by 70.75 points.
The BSE Oil & Gas index is trading with gains of 176.85 points or (3.27%) at 5,586.22. Pushing it are Reliance Industries trading up by 4.13% at Rs 1116 along with BPCL by 3.78% at Rs345.95, Gail India by 3.31% at Rs201.55, RPL by 2.84% at Rs74.30, Essar Oil by 2.60% at Rs69.15, ONGC by 2.52% at Rs702.80.
The most active shares on NSE are Suzlon Energy trading at Rs.39.30 with a total traded quantity of 37203140 shares followed by Unitech trading at Rs.26.85 with a total traded quantity of 30508958 shares.
HDFC Bank is trading higher by 5.34% at Rs880. The bank will offer faster transactions and personalized messages through direct banking channels such as ATMs, internet banking and phone banking and this facility will be offered using “Aptra eMarketing” software, powered by NCR Corporation.
DLF is trading up by 3.88% at Rs195.5. Sega Corp, global gaming and theme park leader is in talks with DLF for a possible India entry. The talks are focused on developing indoor gaming complexes — a rage among all age groups in Western and South East Asian countries. According to DLF group executive director Rajeev Talwar, “We had talks with Sega last week when some of its senior executives were in India and have understood their business models across different geographies. However, no decision has been taken on what we would do with Sega in India and our business model.
The banking stocks are witnessing most buying on the back of reports that Banks operating in India including foreign ones may soon be able to open new branches and set up automated teller machines (ATM) without a licence from the Reserve Bank of India (RBI). From the sectoral front, Oil & gas along with Bankex indices are attracting the investors’ confidence as they are up by 3.25% and 3.01% respectively while Auto index is down by 1.18%.
On the global market front, the European Markets are trading in negative as Dax Index is trading lower by 1.39% and FTSE 100 down by 1.65%.
The broader markets are trading weak as the BSE Mid Cap and Small Cap are trading with losses of 19.53 points or (0.68%) and 34.61 points or (1.04%) at 2,853.06 and 3,298.81 respectively.
The overall market breadth is negative as 1246 stocks are declining while 761 stocks are advancing in BSE.
Sterlite Industries reported the top gainer from the BSE Sensex pack. It is trading up by (9.24%) at Rs.223.55 while M&M reported as the top loser trading down by 4.21% at Rs.265.
At 2.35PM, BSE Sensex is at 8,936.68 up by 241.15 points and NSE Nifty is at 2,724.75 up by 70.75 points.
The BSE Oil & Gas index is trading with gains of 176.85 points or (3.27%) at 5,586.22. Pushing it are Reliance Industries trading up by 4.13% at Rs 1116 along with BPCL by 3.78% at Rs345.95, Gail India by 3.31% at Rs201.55, RPL by 2.84% at Rs74.30, Essar Oil by 2.60% at Rs69.15, ONGC by 2.52% at Rs702.80.
The most active shares on NSE are Suzlon Energy trading at Rs.39.30 with a total traded quantity of 37203140 shares followed by Unitech trading at Rs.26.85 with a total traded quantity of 30508958 shares.
HDFC Bank is trading higher by 5.34% at Rs880. The bank will offer faster transactions and personalized messages through direct banking channels such as ATMs, internet banking and phone banking and this facility will be offered using “Aptra eMarketing” software, powered by NCR Corporation.
DLF is trading up by 3.88% at Rs195.5. Sega Corp, global gaming and theme park leader is in talks with DLF for a possible India entry. The talks are focused on developing indoor gaming complexes — a rage among all age groups in Western and South East Asian countries. According to DLF group executive director Rajeev Talwar, “We had talks with Sega last week when some of its senior executives were in India and have understood their business models across different geographies. However, no decision has been taken on what we would do with Sega in India and our business model.
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