Thursday, December 4, 2008

Markets Today Open Slightly But Suddenly - Dec 04, 2008

The markets today open slightly higher but suddenly turned choppy. The good amount of buying is seen among the Capital Goods, Realty, Banking, Power and IT stocks. However, the Consumer Durables, Metal and Oil & Gas stocks are witnessing a little bit of pressure in the early trade.

The BSE Sensex is now trading above the 8,750 mark and the NSE Nifty is trading above the 2,650 mark.

The Asian markets are also trading mixed as Hang Seng, Shanghai Composite and Straits Times index are trading higher by (0.67%), (3.46%) and (1.12%) respectively. However, the Nikkei and Seoul Composite index are trading lower by (1.27%) and (1.95%).

The US stock market on Wednesday, rallied for the second straight day on the back of solid e-commerce sales report and encouraging news out of the financial sector helped offset dour private employment and services industry economic reports. The Dow Jones Industrial Average (DJIA) surged by 172.60 points to close at 8,591.69. The NASDAQ Composite (RIXF) index increased by 42.58 points to close at 1,492.38 and the S&P 500 (SPX) grew by 21.93 points to close at 870.74.

JP Associate reported a top gainer among the BSE Sensex pack up by (2.72%) at Rs. 64.15 while Hindalco Industries reported the top loser down by (2.55%) at RS. 49.70.

The overall market breadth remains positive as 639 stocks are advancing while 244 stocks are declining on BSE.

At 10.33AM, the BSE Sensex was up by 30.56 points at 8,778 and the Nifty was up by 11.80 points to 2,668.25.

The BSE Mid Cap increased by 23.56 points to 2,854.16 and the BSE Small Cap advanced by 28.24 points to 3,293.34.

BSE Realty index is trading higher by 34.43 points or (2.21%) to trade at 1,594.12. The top gainers are HDIL increased by (2.95%) to Rs.80.25, Unitech up by (3.82%) to Rs.27.20, Ansal Infra inclined by (2.58%) to Rs.25.80 followed by Parsavnath grew by (2.03%) to Rs. 35.20.

BSE Capital Goods index is trading higher by 96.78 points or (1.59%) to trade at 6,183.836. The major gainers are Punj Lloyd inclined by (3.64%) to Rs. 148.20, Havells India up by (3.09%) to Rs.110, Siemens increased by (2.90%) to Rs.231 followed by BHEL grew by (1.11%) to Rs.1,283.90.

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