The market was volatile. On one hand market is expecting that the government is likely to announce a series of measures to boost economic activity and the Securities & Exchange Board of India (Sebi)''s decision to allow crossing margining lifted the bourses from lower level in choppy trade. While on other hand, lower US index futures, mix Asian markets and global recession worries investor sentiment. The likely measure include cheap credit to exports and low-cost housing as well as making available additional funds worth Rs.50,000 crore to infrastructure sector.
On the sectoral front, traders on-loaded positions across the sectors except. Auto stocks are on buyer’s radar after two days of trading session. Further, Banking stocks joint the party on hope that government will pump in money in order to recover the economy from credit crisis. In line with this, steel stocks rose on government initiative to protect the domestic industry from cheap imports.
The domestic steel industry struggling against falling international prices and cheap imports from China is all set to get more help from the government. The centre, which already imposed import restrictions on a number of steel products, has now initiated anti-dumping investigations on imports of a wide range of stainless steel and steel items from countries including China, Japan, South Korea, the US and the EU. However, IT stocks slipped on profit booking.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 1,935 shares traded so far, 1072 shares advanced while 799 shares declined. Nearly 64 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 27.29 points at 8,766.54 and NSE Nifty is up by 10.00 points at 2,667.80.
The BSE Mid Cap is trading higher by 35.60 points at 2,840.94 and Small cap is trading up by 15.87 points at 3,268.29.
Gainers from the BSE Sensex Pack are Tata Steel by (8.11%) at Rs.160.70 along with DLF by (5.14%) at Rs.191.35, State Bank of India by (3.99%) at Rs.1,081.80, ICICI Bank by (3.07%) at Rs.333.70, and Jaiprakash Associates by (2.51%) at Rs.59.25.
Losers from the BSE Sensex Pack are Infosys Technologies Ltd by (3.53%) at Rs.1,167.00 along with Wipro by (3.50%) at Rs.224.70, Bharti Airtel by (2.38%) at Rs.655.00, ONGC by (2.18%) at Rs.649.05 and Satyam Comp by (2.17%) at Rs.228.00.
The BSE Metal index is higher by 163.31 points or (3.79%) at 4,468.21. Stocks trading up are NMDC by (10.07%) at Rs.136.65 along with Tata Steel by (8.11%) at Rs.160.70, Jindal Steel by (5.04%) at Rs.781.20 and JSW Steel by (4.67%) at Rs.183.75.
The BSE Realty index is higher by 50.68 points or (3.36%) at 1,559.95. Stocks trading higher are Anant Raj In up by (7.14%) at Rs.48.00 along with Parsvnath by (5.32%) at Rs.34.65, DLF by (5.14%) at Rs.191.35 and Housing Dev by (4.95%) at Rs.78.50.
The BSE IT index is lower by 69.55 points or (2.81%) at 2,406.73. Stocks trading lower are HCL Techno down by (5.11%) at Rs.118.85 along with Finance Techn by (3.71%) at Rs.522.05, Infosys Technologies Ltd by (3.53%) at Rs.1,167.00 and Wipro by (3.50%) at Rs.224.70.
On the sectoral front, traders on-loaded positions across the sectors except. Auto stocks are on buyer’s radar after two days of trading session. Further, Banking stocks joint the party on hope that government will pump in money in order to recover the economy from credit crisis. In line with this, steel stocks rose on government initiative to protect the domestic industry from cheap imports.
The domestic steel industry struggling against falling international prices and cheap imports from China is all set to get more help from the government. The centre, which already imposed import restrictions on a number of steel products, has now initiated anti-dumping investigations on imports of a wide range of stainless steel and steel items from countries including China, Japan, South Korea, the US and the EU. However, IT stocks slipped on profit booking.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 1,935 shares traded so far, 1072 shares advanced while 799 shares declined. Nearly 64 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 27.29 points at 8,766.54 and NSE Nifty is up by 10.00 points at 2,667.80.
The BSE Mid Cap is trading higher by 35.60 points at 2,840.94 and Small cap is trading up by 15.87 points at 3,268.29.
Gainers from the BSE Sensex Pack are Tata Steel by (8.11%) at Rs.160.70 along with DLF by (5.14%) at Rs.191.35, State Bank of India by (3.99%) at Rs.1,081.80, ICICI Bank by (3.07%) at Rs.333.70, and Jaiprakash Associates by (2.51%) at Rs.59.25.
Losers from the BSE Sensex Pack are Infosys Technologies Ltd by (3.53%) at Rs.1,167.00 along with Wipro by (3.50%) at Rs.224.70, Bharti Airtel by (2.38%) at Rs.655.00, ONGC by (2.18%) at Rs.649.05 and Satyam Comp by (2.17%) at Rs.228.00.
The BSE Metal index is higher by 163.31 points or (3.79%) at 4,468.21. Stocks trading up are NMDC by (10.07%) at Rs.136.65 along with Tata Steel by (8.11%) at Rs.160.70, Jindal Steel by (5.04%) at Rs.781.20 and JSW Steel by (4.67%) at Rs.183.75.
The BSE Realty index is higher by 50.68 points or (3.36%) at 1,559.95. Stocks trading higher are Anant Raj In up by (7.14%) at Rs.48.00 along with Parsvnath by (5.32%) at Rs.34.65, DLF by (5.14%) at Rs.191.35 and Housing Dev by (4.95%) at Rs.78.50.
The BSE IT index is lower by 69.55 points or (2.81%) at 2,406.73. Stocks trading lower are HCL Techno down by (5.11%) at Rs.118.85 along with Finance Techn by (3.71%) at Rs.522.05, Infosys Technologies Ltd by (3.53%) at Rs.1,167.00 and Wipro by (3.50%) at Rs.224.70.
1 comment:
Do not worry about the recession. Most people don't realize how much money there is out there. During economic times like this, there is more money to be had than ever. Because of the bailouts and economy, lenders are bending over backwards to bail you out too. Believe it or not, there is people getting tons of cheap money nowdays to start businesses, buy homes, pay off debt, and more. Bailout is for YOU
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