Thursday, March 26, 2009

Market Rallies After A Gap Up Opening - March 26, 2009

After a gap up opening, the benchmark indices are continuously trading in the northward direction on the back of favoring cues from its global counterparts. The better than expected data of US new home sales and durable goods have brought positive momentum across Asian markets. The expiry of derivative contract today has also helped markets to take a surprise rally. During the last hour, buying interest has emerged in Capital Goods, Power and FMCG stocks, whereas investors are booking their profit on yesterday''s top gainer realty counters. Among the sectoral indices, the BSE CG and Power indices are up by 3.67% and 2.61% respectively, while Realty index slipped by 0.31% respectively. Overall the market breadth is positive as 1142 stocks are trading in green while 648 stocks are in red.

At 11.30 AM, the BSE Sensex up by 118.85 points at 9,786.75 whereas NSE Nifty inclined by 34.09 points at 3,018.45. The BSE Mid Cap and Small Cap are trading higher by 26.7 points and 30.15 points at 2,867.87 and 3,195.61 respectively.

Gainers from the BSE Sensex Pack are BHEL Ltd up by (4.56%) to Rs. 1,551, along with Tata Motors by (3.91%) to Rs. 166.25, ACC Ltd by (3.50%) at Rs. 581.65, ITC Ltd by (3.47%) at Rs. 183.5, L&T Ltd by (3.17%) at Rs. 643.1 and HDFC Ltd by (3.13%) at Rs.1,647.

Gainers from the NSE Nifty Pack are ABB Ltd by (5.38%) at Rs. 414.3 along with BHEL by (4.65%) at Rs. 1551, Hero Honda Motors by (3.64%) at Rs. 1048, Tata Motors Ltd by (3.55%) at Rs. 166.05 and ITC Ltd by (3.32%) at Rs. 183.65.

BSE CG is trading higher by (3.68%) or 224.01 points at 6,318.92. The major gainers are Crompton Greaves is trading up by (12.26%) at Rs. 119 along with ABB Ltd by (5.69%) to Rs. 414.40, BHEL is trading up by (4.56%) to Rs. 1,551 followed by L&T Ltd by (3.17%) at Rs. 643.1.

BSE power is trading higher by (2.12%) or 38.29 points at 1,848.66. The top gainers in the index are Crompton Greaves Ltd surged by (10.33%) to Rs.116.95 along with ABB Ltd by (5.69%) to Rs. 414.40, (4.56%) to Rs. 1,551, GVK power by (3.50%) to Rs. 22.15, followed by GMR Infrastructure by (3.07%) at Rs. 100.75.

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