Monday, November 10, 2008

Markets Keeps On Gaining Further Grounds - Nov 10, 2008

The markets keeps on gaining further grounds and are not showing any signs of pullback. The strong buying continued across the board except the FMCG index. The Metal index today outperformed the benchmark index today. The huge buying is seen among the Power, Capital Goods, Oil & Gas, Banking, IT and Realty stocks. The BSE Mid Cap and the Small Cap stocks are also on the buyer’s ride today.

On the global market front, the European Markets are trading higher as both the FTSE 100 and Dax Index are up by 2.86% and 3.53% respectively.

The BSE Sensex is now trading above the 10,400 mark and the NSE Nifty above the 3,100 mark.

The overall market breadth is positive as 1654 stocks are advancing while 818 stocks are declining in BSE.

Sterilite Industries reported the top gainer from the BSE Sensex pack. It is trading higher by (13.95%) at Rs.281 while ITC the top loser down by (1.34%) at Rs.172.45.

At 2.32PM BSE Sensex is at 10,428.58 up by 464.29 points and Nifty is at 3,116.45 up by 143.45 points.

The BSE Mid Cap is higher by 104.01 points at 3,459.39 and BSE Small Cap advanced by 73.80 points to 3,973.90.

The BSE Metal index is the one of the top gainer today trading with a gain of 559.85 points at 5,712.18. The main gainers are Jindal Steel up by (17.01%) at Rs.863.05, Sterlite Industries increased by (13.95%) at Rs.280.50 followed by Tata Steel and Hindalco Industries inclined by (11.86%) and (11.08%) to Rs.212.65 and Rs.67.15 respectively.

The most active shares on NSE are Reliance Industries trading at Rs.1,290.10 with a total traded quantity of 3586095 shares followed by Suzlon Energy trading at Rs.66.75 with a total traded quantity of 42602106 shares.

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