Tuesday, January 27, 2009

Positive Sentiments Pulling Market North - Jan 27, 2009

The benchmark indices comes off from the day''s high as the Reserve Bank Of India keeps the benchmark interest rate unchanged in its third quarter review of the Monetary Policy for 2008-09. The central bank left its repo rate, reverse repo rate and the cash reserve ratio (CRR) unchanged at 5.5%, 4% and 5% respectively. However at the initial stage the value buying is seen by the various fund houses as well as retail investors after encouraging third quarter earnings reported by country''s top financial institutions such as SBI and ICICI Bank. IT, TECk, Metal and Power counters lead the gainers. Among the sectoral indices BSE IT index is up by 3.78%, while the BSE TECk is trading higher by 3.08%. Overall the market breadth is positive as 954 stocks are trading in green while 940 stocks are in red.

At 11.32 AM, the BSE Sensex up by 161.94 points at 8,836.29 while NSE Nifty increased by 51.44 points at 2,730. The BSE Mid Cap and BSE Small Cap are trading higher by 10.96 points and 0.75 points at 2,861.15 and 3,256.29 respectively.

Gainers from the BSE Sensex Pack are Sterlite Industries up by (7.87%) to Rs.258.3, along with Reliance Infrastructure by (4.23%) to Rs.506.05, Infosys Technologies by (4.19%) at Rs.1254.4, Maruti suzuki by (4.19%) at Rs.536.95, Jai Prakash Associate by (3.98%) to Rs.64 and Tata Steel by (3.94%) at Rs.172.9.

Gainers from the NSE Nifty Pack are HCL Technologies up by (8.60%) at Rs.116.2 along with Sterlite Industries by (8.36%) at Rs.259.25, Zee Entertainment by (6.44%) at Rs.97.45, Tata Communication by (6.05%) at Rs.452.5 and Ambuja Cements by (5.30%) at Rs.69.6.

BSE IT is trading higher by (3.78%) or 78.28 points at 2,147.42. The top gainers in the index are HCL Technology up by (7.76%) to Rs.115.30 along with Rolta India by (7.27%) to Rs.78.95, Infosys Technologies by (3.74%) to Rs.1249, Tech Mahindra by (3.62%) to Rs.217.75, followed by TCS Ltd by (3.56%) at Rs.503.

BSE TECk is trading higher by (3.08%) or 52.69 points at 1,761.17. The major gainers are HCL Technology trading higher by (7.76%) at Rs.115.30, along with Rolta India by (7.27%) at Rs.78.95, Zee Entertainment by (5.55%) at Rs.97, Tata Communication by (5.17%) at Rs 448.75, Infosys Technology by (4.19%) at Rs 1254.4 and Tech Mahindra by (3.45%) at Rs 217.40.

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