Monday, December 15, 2008

Markets Surged In The Early Trade - Dec 15, 2008

The markets today open significantly higher on the back of positive cues from the global markets. All the sectorial indices are trading in green in the opening trade. The Realty, Metal, Banking, Capital Goods, IT and Oil & Gas stocks are on the buyers ride today. The BSE Mid Cap and the Small Cap are also trading significantly higher with a gain of more than 2% each.

The BSE Sensex is now trading near the 9,900 mark and the NSE Nifty is trading near the 3,000 mark.

The Asian markets are also trading higher as Hang Seng, Shanghai Composite, Nikkei and Straits Times index are trading higher by (3.07%), (0.43%), (4.87%) and (2.14%) respectively.

The US stock market on Friday ended higher, after the Treasury and White House said they would step in to prevent a failure of U.S. automakers amid worries that more layoffs would deepen the recession. The news came in after Senate votes against $14 billion bailout plan for automakers. The Dow Jones Industrial Average (DJIA) advanced by 64.59 points to close at 8,629.68. The NASDAQ Composite (RIXF) index increased by 32.84 points to close at 1,540.72 and the S&P 500 (SPX) grew 6.14 points to close at 879.73.

Grasim Industries reported a top gainer among the BSE Sensex pack up by (5.63%) at Rs. 1,134 while Reliance Communication the top loser down by (1.57%) at Rs. 245.30.

The overall market breadth remains positive as 1168 stocks are advancing while 257 stocks are declining on BSE.

At 10.33AM, the BSE Sensex was up by 206.58 points at 9,896.65 and the Nifty was up by 68.20 points to 2,989.55.

The BSE Mid Cap increased by 83.93 points to 3,134.11 and the BSE Small Cap advanced by 86.54 points to 3,617.50.

BSE Metal index is trading higher by 209.54 points or (3.98%) to trade at 5,474.67. The top gainers are Tata Steel increased by (5.87%) to Rs.230.70, SAIL up by (5.69%) to Rs.84.55, Sesa Goa inclined by (5.17%) to Rs.82.35 followed by JSW Steel grew by (4.75%) to Rs. 237.30.

BSE Realty index is trading higher by 109.80 points or (5.16%) to trade at 2,237.98. The major gainers are HDIL inclined by (8.30%) to Rs. 118.05, Ansal Infra up by (8.25%) to Rs.32.80, Unitech increased by (6.27%) to Rs.36.45 followed by Omaxe Ltd. grew by (6.94%) to Rs.59.35.

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