The market is trading with handsome gains tracking the government step of providing a stimulus package to give a boost to the economy. Also the interest rate cut by the RBI (repo rate and reverse repo rate by 100 bps) added to the positive sentiments of the investors. From the sectoral front, the realty index remains in the lime light as it is up by more than 6%. Followed this are Metal, Power, Capital Goods and Bankex by more than 4% each. The government on December 07 cut Cenvat by 4 per cent across the board to boost demand.
Government also announced Rs 20,000 crore additional non-plan expenditure as a part of the package to stimulate the economy. The much anticipated package, set rolling through additional funding and guarantees that a total amount of about Rs 35,000 crore. The 10-point package contains substantial incentives for the sectors that have been hit by the global slowdown and recession in the west, besides allowing India Infrastructure Finance Company Ltd to raise Rs 10,000 crore through tax free bonds by March as part of efforts to support Rs 1,00,000 crore programme in the high-way sector.
On the global market front, the European Markets are trading firm as Dax Index is trading higher by 6.34% and FTSE 100 up by 5%.
The broader markets are trading in green as the BSE Mid Cap and Small Cap are trading with good gains of 23.56 points or (0.81%) and 46.33 points or (1.39%) at 2,916.52 and 3,369.87 respectively.
The overall market breadth is positive as 1526 stocks are advancing while 782 stocks are declining in BSE.
Tata Steel reported the top gainer from the BSE Sensex pack. It is trading up by (11.79%) at Rs.204.35 along with DLF Ltd by 9.28% at Rs 222.
At 2.30 PM BSE Sensex is at 9,380.76 higher by 415.55 points and NSE Nifty is at 2,846.55 up by 132.15 points.
The BSE Reality index is trading with gains of 108.64 points or (6.42%) at 1,800.83. Pushing it are Unitech Ltd trading higher by 9.09% at Rs33.60 along with DLF Ltd by 8.32% at Rs220.05, Housing Dev by 5.16% at Rs92.70, Parsvnath by 4.66% at Rs 41.55, Indiabull Real by 4.25% at Rs108, Ansal Infra by 3.84% at Rs27.05, Omaxe Ltd by 3.04% at Rs52.50.
The most active shares on NSE are Reliance trading at Rs1,161.15 with a total traded quantity of 4307151 shares followed by ICICI Bank trading at Rs378.60 with a total traded quantity of 9242881 shares.
Government also announced Rs 20,000 crore additional non-plan expenditure as a part of the package to stimulate the economy. The much anticipated package, set rolling through additional funding and guarantees that a total amount of about Rs 35,000 crore. The 10-point package contains substantial incentives for the sectors that have been hit by the global slowdown and recession in the west, besides allowing India Infrastructure Finance Company Ltd to raise Rs 10,000 crore through tax free bonds by March as part of efforts to support Rs 1,00,000 crore programme in the high-way sector.
On the global market front, the European Markets are trading firm as Dax Index is trading higher by 6.34% and FTSE 100 up by 5%.
The broader markets are trading in green as the BSE Mid Cap and Small Cap are trading with good gains of 23.56 points or (0.81%) and 46.33 points or (1.39%) at 2,916.52 and 3,369.87 respectively.
The overall market breadth is positive as 1526 stocks are advancing while 782 stocks are declining in BSE.
Tata Steel reported the top gainer from the BSE Sensex pack. It is trading up by (11.79%) at Rs.204.35 along with DLF Ltd by 9.28% at Rs 222.
At 2.30 PM BSE Sensex is at 9,380.76 higher by 415.55 points and NSE Nifty is at 2,846.55 up by 132.15 points.
The BSE Reality index is trading with gains of 108.64 points or (6.42%) at 1,800.83. Pushing it are Unitech Ltd trading higher by 9.09% at Rs33.60 along with DLF Ltd by 8.32% at Rs220.05, Housing Dev by 5.16% at Rs92.70, Parsvnath by 4.66% at Rs 41.55, Indiabull Real by 4.25% at Rs108, Ansal Infra by 3.84% at Rs27.05, Omaxe Ltd by 3.04% at Rs52.50.
The most active shares on NSE are Reliance trading at Rs1,161.15 with a total traded quantity of 4307151 shares followed by ICICI Bank trading at Rs378.60 with a total traded quantity of 9242881 shares.
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