Friday, February 6, 2009

The Benchmark Indices Are Continuously Trading On Positive - Feb 6, 2009

The benchmark indices are continuously trading on positive note, backed by strong support from overseas market. Besides, sharp decline in inflation and RBI’s announcement of relaxation in credit availability, which extends forex swap facility for banks until October 2010 and raising interest rate ceiling on foreign currency export credit helped investors to trade with positive sentiments. Buying interest is seen across most sectors including realty, oil & gas, banking and power stocks leading the gains. The BSE realty index has surged by 5.77% while the BSE Oil & Gas is also up by 1.86%. Overall the market sentiment is positive as nearly 1133 stocks are trading in green territory whereas 546 stocks are still in red.

At 11.30 AM, the BSE Sensex surged by 137.35 points at 9,228.23 and NSE Nifty up by 45.84 points at 2,825.9 The BSE Mid Cap and BSE Small Cap are trading higher by 42.07 points and 49.87 points at 2,884.17 and 3,295.18 respectively.

Gainers from the BSE Sensex Pack are Reliance Infrastructure up by (4.18%) to Rs. 541.5, along with Jaiprakash Associate by (3.95%) to Rs.71.05, Tata Motors by (3.27%) at Rs. 135.8, TCS by (3.21%) at Rs. 498.25, Mahindra & Mahindra by (3.15%) at Rs. 275.15 and Ranbax Lab by (3.11%) at Rs.215.5.

Gainers from the NSE Nifty Pack are Unitech up by (6.13%) at Rs.29.45 along with HCL Tech by (4.81%) at Rs. 127.4, Reliance infrastructure by (4.30%) at Rs.542.2, Tata motors by (3.70%) at Rs. 135.95 and Mahindra & Mahindra by (3.54%) at Rs. 275.05.

BSE Realty is trading higher by (5.64%) or 78.37 points at 1,466.89. The major gainers are Orbit Co trading higher by (45.63%) at Rs.58.25, along with Ansal Infra by (22.98%) at Rs.28.90, Parsavnath by (19.23%) at Rs.43.40, Penland ltd by (10.61%) at Rs.23.45, followed by Mahindra life by (9.19%) to Rs.126.

BSE Oil & Gas is trading higher by (1.80%) or 110.12 points at 6,243.68. The top gainers in the index are Aban offshore up by (2.67%) to Rs.430.10 along with Reliance Ind by (2.43%) to Rs. 1,318, Essar Oil Ltd by (2.40%) to Rs. 72.65, RNRL by (2.31%) to Rs. 46.50, Cairn India by (2.08%) to Rs.164.75 followed by ONGC by (1.84%) at Rs. 677.35.

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