Wednesday, November 19, 2008

Markets Trading Strong Despite Negative Peers - Nov 19, 2008

Although still in the positive, the benchmark indices exhibit contrasting trends during the previous hour of trade on the bourses. After losing for the last 5 trading periods, the markets are reckoning over the cautious note and buying the beaten up stocks. The markets have avoided Asian Peers as most Asian indices are trading in red. Buying interest is being witnessed across the index heavyweight like Oil & Gas, Capital Goods, Metal and Bankex on the top. The market breath is favoring advance, as 1039 stocks are trading in green and about 939 stocks in red on the broader BSE.

At 11.30 AM, the BSE Sensex gained 221 points at 9158.61 whereas NSE Nifty up by 68.90 points at 2752.05. The BSE Mid Cap and BSE Small Cap are higher by 16 points and 0.07 points at 3076 and 3559 respectively.

Gainers from the NSE Nifty Pack are Ambuja Cement up by (4.99%) at Rs.56.85 along with Reliance industries by (4.41%) at Rs.1,190.25, Suzlon energy ltd by (4.24%) at Rs.52.80, Sterlite industries by (3.99%) at Rs.227.00 and HDFC by (3.96%) at Rs.1,476.10.

Gainers from the BSE Sensex Pack are Sterlite Industries up by (4.66%) at Rs.228.10 along with Reliance industries by (4.34%) at Rs.1,190.25, Grasim Industries by (4.23%) at Rs.1,017.00, HDFC by (4.00%) at Rs.1,476.00 and ITC ltd by (3.70%) at Rs.166.65.

BSE Oil & Gas is gaining by 162.01 points at 5,734.03. The major gainers are Reliance Ind trading up by (4.26%) at Rs.1,189.25, Gail India by (3.85%) at Rs.198.40, ONGC by (2.55%) at Rs.684.80, Cairn Ind by (2.44%) to Rs.138.70, followed by Reliance Nat Res by (1.55%) to Rs.45.95.

BSE Capital Goods is trading higher by 100.67 points at 6,727.17. The top gainers in the index are Reliance Industrial infra ltd increased by (3.42%) to Rs.344.60, Usha Martin up by (3.10%) to Rs.24.95, Siemens Ltd by (2.64%) to Rs.278.05 followed by Punj Lloyd by (2.08%) at Rs.164.70 and ABB Ltd by (1.94%) to Rs.428.00.

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