The markets today kick-start the session with a heavy gain on the back of both positive domestic and global cues. All the sectorial indices are trading in green in the opening trade. The Realty, Bankig, Capital Goods, Metal, Power and Oil & Gas stocks are in huge demand in the opening trade.
On the domestic market front, RBI in order to ease the money-supply crunch has cut the repo rate by 50 basis points to 7.5% with effect November 3. It has also cut CRR, or cash reserve ratio, by 100 bps in two stages to 5.5%.
Indian rupee opened at Rs.49.11 per dollar as against Friday''s close of Rs.49.44/46. Indian rupee appreciated as the central bank unexpectedly cut rates.
The BSE Mid Cap and the Small Cap are also trading higher with a gain of more than 4% each.
The BSE Sensex is now trading above the 10,200 mark and the NSE Nifty above the 3,000 mark.
The US stock market on Friday rallied on the back of the J.P. Morgan plan to stem the crash in America’s housing market followed by the words from Fed Chairman Bernanke that some form of government backstop may be necessary to ensure continued securitization of mortgages. The Dow Jones Industrial Average (DJIA) surged by 144.32 points to close at 9,325.01. The NASDAQ Composite (RIXF) index increased by 22.43 points to close at 1,720.95 and the S&P 500 (SPX) grew 14.66 points to close at 968.75.
The overall market breadth is positive as 1324 stocks are advancing whereas 324 stocks are declining on BSE.
Tata Motors reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (9.28%) at Rs.187.75 followed by Reliance Infra up by (9.28%) at Rs.171.80.
At 10.33AM, the BSE Sensex was up by 438.03 points at 10,226.09 and the Nifty was up by 123.55 points to 3,009.15.
The BSE Mid Cap increased by 130.53 points to 3,330.55 and the BSE Small Cap advanced by 152.88 points to 3,917.99.
BSE Realty index is trading higher by 133.90 points or (6.77%) to trade at 2,112.14. The top gainers are Penland increased by (9.78%) to Rs.22.45, Ansal Infra up by (8.50%) to Rs.47.25, DLF inclined by (8.13%) to Rs.238.15 followed by Omaxe Ltd. grew by (7%) to Rs.61.90.
BSE Bank index advanced by 337.96 points to trade at 5,349.20. The major gainers are Kotak Bank inclined by (7.45%) to Rs.362, ICICI Bank up by (6.96%) to Rs.427.15, SBI increased by (6.99%) to Rs.1,187 followed by AXIS Bank grew by (5.05%) to Rs.591.
Tata Motors is trading higher by (9.28%) at Rs.187.75. The company’s sales for the month of October fell 20% on the back of tighter lending and a slowing economy, which has damped demand for commercial vehicles. This fall in the October sales marked the largest drop in at least four years. The total vehicle sales dropped to 39,729 from 49,354 a year earlier. The commercial-vehicle sales in India fell 29% to 19,154.
On the domestic market front, RBI in order to ease the money-supply crunch has cut the repo rate by 50 basis points to 7.5% with effect November 3. It has also cut CRR, or cash reserve ratio, by 100 bps in two stages to 5.5%.
Indian rupee opened at Rs.49.11 per dollar as against Friday''s close of Rs.49.44/46. Indian rupee appreciated as the central bank unexpectedly cut rates.
The BSE Mid Cap and the Small Cap are also trading higher with a gain of more than 4% each.
The BSE Sensex is now trading above the 10,200 mark and the NSE Nifty above the 3,000 mark.
The US stock market on Friday rallied on the back of the J.P. Morgan plan to stem the crash in America’s housing market followed by the words from Fed Chairman Bernanke that some form of government backstop may be necessary to ensure continued securitization of mortgages. The Dow Jones Industrial Average (DJIA) surged by 144.32 points to close at 9,325.01. The NASDAQ Composite (RIXF) index increased by 22.43 points to close at 1,720.95 and the S&P 500 (SPX) grew 14.66 points to close at 968.75.
The overall market breadth is positive as 1324 stocks are advancing whereas 324 stocks are declining on BSE.
Tata Motors reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (9.28%) at Rs.187.75 followed by Reliance Infra up by (9.28%) at Rs.171.80.
At 10.33AM, the BSE Sensex was up by 438.03 points at 10,226.09 and the Nifty was up by 123.55 points to 3,009.15.
The BSE Mid Cap increased by 130.53 points to 3,330.55 and the BSE Small Cap advanced by 152.88 points to 3,917.99.
BSE Realty index is trading higher by 133.90 points or (6.77%) to trade at 2,112.14. The top gainers are Penland increased by (9.78%) to Rs.22.45, Ansal Infra up by (8.50%) to Rs.47.25, DLF inclined by (8.13%) to Rs.238.15 followed by Omaxe Ltd. grew by (7%) to Rs.61.90.
BSE Bank index advanced by 337.96 points to trade at 5,349.20. The major gainers are Kotak Bank inclined by (7.45%) to Rs.362, ICICI Bank up by (6.96%) to Rs.427.15, SBI increased by (6.99%) to Rs.1,187 followed by AXIS Bank grew by (5.05%) to Rs.591.
Tata Motors is trading higher by (9.28%) at Rs.187.75. The company’s sales for the month of October fell 20% on the back of tighter lending and a slowing economy, which has damped demand for commercial vehicles. This fall in the October sales marked the largest drop in at least four years. The total vehicle sales dropped to 39,729 from 49,354 a year earlier. The commercial-vehicle sales in India fell 29% to 19,154.
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