Wednesday, December 10, 2008

Markets Rally On Positive Cues From Asian Markets - Dec 10, 2008

The stocks continued to trade higher on firm global cues. The Asian Markets are trading positive following the fall in dollar and hopes that the policymakers will provide a helping hand to key sectors. The FIIs are also showing up some interest by infusing fund in last couple of trading sessions. However, the DIIs are on the spear of offloading equities in the market. This is a clear sign of the Indian markets to remain range bound. The index heavyweight like Metal, Oil & Gas, Realty and Capital Goods are trading in positive zone. The market breath is favoring advance, as 1,100 stocks are trading in green and about 706 stocks in red on the broader BSE.

At 11.35 AM, the BSE Sensex is gaining by 151.75 points at 9,314.37 whereas NSE Nifty up by 60.50 points at 2,844.50. The BSE Mid Cap is trading higher by 20.66 points at 2,905.70 and BSE Small Cap trading up by 21.70 points at 3,364.90.

Gainers from the NSE Nifty Pack are SAIL up by (9.31%) at Rs.75.15 along with Tata Comm by (7.57%) at Rs.469.70, Grasim Ind by (7.51%) at Rs.1,034.00, Sterlite Ind by (7.51%) at Rs.268.50 and DLF Ltd by (6.88%) at Rs.236.80.

Gainers from the BSE Sensex Pack are Sterlite Ind up by (7.48%) at Rs.268.75 along with DLF Ltd by (7.18%) at Rs.236.70, Grasim Ind by (6.78%) at Rs.1,032.00, Jaiprakash Asso by (5.90%) at Rs.72.70 and Reliance Comm by (4.73%) at Rs.216.85.

BSE Metal index is trading higher by 236.93 points at 5,018.15. The major gainers are SAIL trading up by (9.88%) at Rs.75.60, Sterlite Ind by (7.62%) at Rs.269.10, NALCO by (6.81%) at Rs.196.10, JSW steel by (5.50%) to Rs.233.85, followed by Sesa Goa Ltd by (5.43%) to Rs77.65.

BSE Oil & Gas is trading higher by 170.90 points at 5,692.49. The top gainers in the index are Gail India increased by (5.28%) to Rs.215.50, Reliance Ind up by (3.08%) to Rs.1,154.50, ONGC by (2.40%) to Rs.675.50 followed by Cairn India by (2.24%) at Rs.145.80 and BPCL by (1.61%) to Rs.331.40.

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