Wednesday, December 10, 2008

Asian Markets Later Gained Further Grounds Realty Gains - Dec 10, 2008

The market is trading firm by positing heavy gains across the counters tracking the favoring cues from the global as well as the domestic markets. The news about the White House and congressional Democrats reached an agreement in principle on a $15 billion proposal for bailing out US automakers gave a boost the sentiments of the investors across the globe. The Asian markets later gained further grounds tracking the plan to rescue the US auto industry as well as on hopes governments.

Worldwide will help out ailing industries and implement stimulus measures to deal with the economic crisis. All the sectoral indices are trading in green. However, the realty surged tracking the fiscal stimulus package by the Central government along with interest rate cut by the Central bank. The markets opens with a bang as the Asian markets extends gains for the consecutive trading session and kept on marching forward till the mid session.

On the global market front, the European markets are trading mixed as Dax Index is trading higher by 0.32% while FTSE 100 down by 0.68%.

The broader markets are trading in green as the BSE Mid Cap and Small Cap are trading with good gains of 34.38 points or (1.19%) and 27.69 points or (0.82%) at 3,370.89 and 3,369.87 respectively.

The overall market breadth is positive as 1364 stocks are advancing while 938 stocks are declining in BSE.

Grasim Industries reported the top gainer from the BSE Sensex pack. It is trading up by (10.93%) at Rs1,072.05 along with DLF Ltd by 10.64% at Rs 244.35.

At 2.30 PM BSE Sensex is at 9,479.23 higher by 316.60 points and NSE Nifty is at 2,882.95 up by 98.94 points.

The BSE Reality index is trading with gains of 133.54 points or (7.50%) at 1,914.91. Pushing it are DLF Ltd trading higher by 11.52% at Rs246.30 along with Housing Dev by 9.96% at Rs98.25, Indiabull Real by 5.10% at Rs110.30, Orbit Co by 4.12% at Rs 50.60, Penland Ltd by 3.41% at Rs19.70, Ansal Infra by 3.21% at Rs27.30, Parsvnath by 2.34% at Rs41.60.

The most active shares on NSE are Reliance trading at Rs1,200 with a total traded quantity of 5132173 shares followed by DLF Ltd trading at Rs244.35 with a total traded quantity of 17576059 shares.

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