Expectations from government stimulus for the economy in the interim budget pulled the domestic bourses. It is expected to offer tax sops and sector-specific stimulus package to revive growth and benefit to those required beneficiaries. Further, the news that US government was thrashed out a programme to subsidize mortgages for homeowners before they could fall into loan arrears helped US market to recover. Asia-Pacific stocks gained on hopes that government efforts round the world, would soften the blow of global downturn.
On the sectoral front, traders on-loaded position across the sectors. Banking stocks advanced as investors speculated recovery in bond prices and lower rates would accelerate loan growth along with profitability apart from this rise in American Depository Receipts (ADRs). IT stocks rose on hopes government efforts worldwide would soften the blow of the global downturn. Steel and cement stocks jumped on expectation of reduction in railway freight rates in the interim rail budget today.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,313 stocks traded so far, 1,452 shares advanced while 768 shares declined. Nearly 93 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 150.76 points at 9,616 and NSE Nifty is up by 47.59 points at 2,940.65.
The BSE Mid Cap is trading higher by 43.98 points at 3,012.09 and Small cap is trading up by 37.92 points at 3,412.72.
Gainers from the BSE Sensex pack are Tata Steel by 4.88% to Rs. 194.50 along with Mahindra & Mahindra advanced by 4.54% to Rs. 313.45, BHEL by 4.15% to Rs. 1,471.00, Reliance Infra by 4.08% to Rs. 572.45, ACC Ltd by 3.47% to Rs. 568.25, Jaiprakash Associates rose 3.15% to Rs. 75.35, Larsen & Toubro Ltd by 2.81% to Rs. 701.40 and Reliance Communication by 2.70% to Rs. 177.10 among others.
Losers from the BSE Sensex Pack are Sun Pharma by 1.17% to Rs. 1,092.60 along with Bharti Airtel by 0.44% to Rs. 647.60, Ranbaxy Labs by 0.21% to Rs. 212.30 and ITC Ltd by 0.17% to 177.90.
The BSE Metals index is higher by 148.20 points or 2.88% at 5,286.53. Stocks trading in green are Tata Steel up by 4.64% to Rs. 194.05, JSW Steel up by 4.19% to Rs. 234.75, Jindal Steel by 4.17% to Rs. 1,091.50, Steel Authority of India by 3.60% to Rs. 90.75, National Aluminium by 2.39% to Rs. 201.50 and Ispat Industries by 2.14% to Rs. 11.47 among others.
Sun Pharma slipped by 1.17% to Rs. 1092.60 on profit booking.
Reliance Industries Ltd gained by 2.50% to Rs.1,385.55 as it reportedly begun gasoline trading operations in the United States, adding liquidity to physical trading operations in two major markets.
Reliance Infrastructure surged 4.08% to Rs. 572.45, after the company announced a fresh buyback programme at a maximum price of Rs. 700 per share, a 22.44% premium over the ruling market price.
Sterlite Industries India rose 1.13% to Rs. 272.00, after a block deal.
Maytas Infra rose 5.00% to Rs. 59.90, extending gains for the third consecutive session on reports two Hyderabad-based companies are in the race to buy the firm.
Cairn India gained 1.13% to Rs. 161.60, as crude oil prices recovered.
Wockhardt rose 0.62% to Rs. 96.10, after the company said it got US nod for a new drug.
ONGC gained by 1.5% to Rs. 704 on reports that the company may sell 15% to 20% in a planned petrochemical project in India’s Gujarat state to Gail.
DLF advanced by 1.70% to Rs. 158.90 as the company announced that it has withdrawn from Rs. 50 billion township project near Kolkata.
Varun Shipping surged by 3.97% to Rs. 47.10 after around 7% of equity shares were traded in a single deal.
On the sectoral front, traders on-loaded position across the sectors. Banking stocks advanced as investors speculated recovery in bond prices and lower rates would accelerate loan growth along with profitability apart from this rise in American Depository Receipts (ADRs). IT stocks rose on hopes government efforts worldwide would soften the blow of the global downturn. Steel and cement stocks jumped on expectation of reduction in railway freight rates in the interim rail budget today.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,313 stocks traded so far, 1,452 shares advanced while 768 shares declined. Nearly 93 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 150.76 points at 9,616 and NSE Nifty is up by 47.59 points at 2,940.65.
The BSE Mid Cap is trading higher by 43.98 points at 3,012.09 and Small cap is trading up by 37.92 points at 3,412.72.
Gainers from the BSE Sensex pack are Tata Steel by 4.88% to Rs. 194.50 along with Mahindra & Mahindra advanced by 4.54% to Rs. 313.45, BHEL by 4.15% to Rs. 1,471.00, Reliance Infra by 4.08% to Rs. 572.45, ACC Ltd by 3.47% to Rs. 568.25, Jaiprakash Associates rose 3.15% to Rs. 75.35, Larsen & Toubro Ltd by 2.81% to Rs. 701.40 and Reliance Communication by 2.70% to Rs. 177.10 among others.
Losers from the BSE Sensex Pack are Sun Pharma by 1.17% to Rs. 1,092.60 along with Bharti Airtel by 0.44% to Rs. 647.60, Ranbaxy Labs by 0.21% to Rs. 212.30 and ITC Ltd by 0.17% to 177.90.
The BSE Metals index is higher by 148.20 points or 2.88% at 5,286.53. Stocks trading in green are Tata Steel up by 4.64% to Rs. 194.05, JSW Steel up by 4.19% to Rs. 234.75, Jindal Steel by 4.17% to Rs. 1,091.50, Steel Authority of India by 3.60% to Rs. 90.75, National Aluminium by 2.39% to Rs. 201.50 and Ispat Industries by 2.14% to Rs. 11.47 among others.
Sun Pharma slipped by 1.17% to Rs. 1092.60 on profit booking.
Reliance Industries Ltd gained by 2.50% to Rs.1,385.55 as it reportedly begun gasoline trading operations in the United States, adding liquidity to physical trading operations in two major markets.
Reliance Infrastructure surged 4.08% to Rs. 572.45, after the company announced a fresh buyback programme at a maximum price of Rs. 700 per share, a 22.44% premium over the ruling market price.
Sterlite Industries India rose 1.13% to Rs. 272.00, after a block deal.
Maytas Infra rose 5.00% to Rs. 59.90, extending gains for the third consecutive session on reports two Hyderabad-based companies are in the race to buy the firm.
Cairn India gained 1.13% to Rs. 161.60, as crude oil prices recovered.
Wockhardt rose 0.62% to Rs. 96.10, after the company said it got US nod for a new drug.
ONGC gained by 1.5% to Rs. 704 on reports that the company may sell 15% to 20% in a planned petrochemical project in India’s Gujarat state to Gail.
DLF advanced by 1.70% to Rs. 158.90 as the company announced that it has withdrawn from Rs. 50 billion township project near Kolkata.
Varun Shipping surged by 3.97% to Rs. 47.10 after around 7% of equity shares were traded in a single deal.
No comments:
Post a Comment