Market recovers from its losses and is trading in positive terrain on expectations of a second stimulus package by the government for economy and on hopes of further cut in interest rates by the central bank. Sharp drop in inflation raised the hope of deeper interest rate cuts in coming weeks as the inflation number eased to 6.84% for the week ended December 6 2008, as compared to 8% of the week before.
After a lower opening, the market had bounced back soon, but was not able to hold the momentum and further turned volatile on profit booking at higher levels. Though, Indices tried to recover again on decision by the Bank of Japan to cut interest rates. The Bank of Japan lowered its key rate from 0.3% to 0.1%. Most of the buying is seen in Reality, Auto, Consumer Durable, Power, PSU and Capital Goods stocks. However, IT stocks are not able to gain favour from he market.
On the global market front, the European Markets are trading in red as Dax Index is trading lower by 0.46% and FTSE 100 down by 0.75%.
The broader markets are trading in green as the BSE Mid Cap and Small Cap are trading with gains of 63.40 points or (1.97%) and 32.01 points or (0.86%) at 3,267.96 and 3,743.97 respectively.
The overall market breadth is strong as 1449 stocks are advancing and 937 stocks are declining.
DLF Ltd reported the top gainer from the BSE Sensex pack. It is trading up by (10.54%) at Rs306.65 along with M&M Ltd by (8.28%) at Rs 333.65.
Satyam computer reported the top loser from the BSE Sensex pack. It is trading down by (4.66%) at Rs161.45 along with ONGC Ltd by (2.82%) at Rs 712.20.
At 2.30 PM BSE Sensex is at 10,134.52 up by 58.09 points and NSE Nifty is at 3,084.50 higher by 23.75 points.
The BSE Reality index is trading higher by 201.98 points or (8.84%) at 2,485.97 as Unitech Ltd is trading up by 13.52% at Rs43.25 along with Indiabull Real by 11.29% at Rs153.20, DLF Ltd by 9.77% at Rs304.50, Housing Development by 9.66% at Rs169.20 and Sobhya Dev by 9.31% at Rs118.00.
The most active shares on NSE are Reliance trading at Rs1,372.15 with a total traded quantity of 6067906 shares followed by DLF Ltd trading at Rs304.70 with a total traded quantity of 16756717 shares.
After a lower opening, the market had bounced back soon, but was not able to hold the momentum and further turned volatile on profit booking at higher levels. Though, Indices tried to recover again on decision by the Bank of Japan to cut interest rates. The Bank of Japan lowered its key rate from 0.3% to 0.1%. Most of the buying is seen in Reality, Auto, Consumer Durable, Power, PSU and Capital Goods stocks. However, IT stocks are not able to gain favour from he market.
On the global market front, the European Markets are trading in red as Dax Index is trading lower by 0.46% and FTSE 100 down by 0.75%.
The broader markets are trading in green as the BSE Mid Cap and Small Cap are trading with gains of 63.40 points or (1.97%) and 32.01 points or (0.86%) at 3,267.96 and 3,743.97 respectively.
The overall market breadth is strong as 1449 stocks are advancing and 937 stocks are declining.
DLF Ltd reported the top gainer from the BSE Sensex pack. It is trading up by (10.54%) at Rs306.65 along with M&M Ltd by (8.28%) at Rs 333.65.
Satyam computer reported the top loser from the BSE Sensex pack. It is trading down by (4.66%) at Rs161.45 along with ONGC Ltd by (2.82%) at Rs 712.20.
At 2.30 PM BSE Sensex is at 10,134.52 up by 58.09 points and NSE Nifty is at 3,084.50 higher by 23.75 points.
The BSE Reality index is trading higher by 201.98 points or (8.84%) at 2,485.97 as Unitech Ltd is trading up by 13.52% at Rs43.25 along with Indiabull Real by 11.29% at Rs153.20, DLF Ltd by 9.77% at Rs304.50, Housing Development by 9.66% at Rs169.20 and Sobhya Dev by 9.31% at Rs118.00.
The most active shares on NSE are Reliance trading at Rs1,372.15 with a total traded quantity of 6067906 shares followed by DLF Ltd trading at Rs304.70 with a total traded quantity of 16756717 shares.
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