Wednesday, March 18, 2009

Market Spurts: Metal & Realty Leading The Race- March 18, 2009

After a Gap up opening, the benchmark indices continue to trade higher on the back of positive cues from its peers around the globe. The better than expected housing data lifted the US markets yesterday, consequently that has brought cheer across other markets around the globe. On a stock move, ICICI bank is trading almost 4.5% up after bank declined a report saying bank is considering spinning off its automated teller machines and point of sale terminals. During last hour, buying interest has emerged across the board with realty, metal and banking stocks leading the gains. Among the sectoral indices, the BSE Metal index is up by 4.05% and the BSE Realty index has gained by 3.38%. The BSE banking index on the other hand has also surged more than 3%. Overall the market breadth is positive as 1367 stocks are trading in green while 531 stocks are in red.

At 11.32 AM, the BSE Sensex up by 171.31 points at 9,035.13 whereas NSE Nifty inclined by 52.4 points at 2,809.85. The BSE Mid Cap and Small Cap are trading higher by 71.05 points and 62.97 points at 2,767.41 and 3,073.29 respectively.

Gainers from the BSE Sensex Pack are Jaiprakash Associates up by (8.54%) to Rs. 80.7, along with Sterlite Industries by (5.43%) to Rs. 308.45, Tata Steel by (4.71%) at Rs.176.6, Reliance Infrastructure by (4.59%) at Rs. 485.4, Reliance Communication by (3.86%) at Rs. 164 and Tata Motors Ltd by (3.78%) at Rs.178.55.

Gainers from the NSE Nifty Pack are Suzlon Energy by (6.36%) at Rs. 38.45 along with Sterlite Industries by (5.04%) at Rs. 307.5, Reliance Infrastructure by (4.91%) at Rs. 487.15, Tata Steel by (4.77%) at Rs. 176.65 and Reliance Capital by (4.50%) at Rs. 326.45.

BSE Metal is trading higher by (4.05%) or 201.47 points at 5,175.49. The major gainers are Welsp Guj SR trading up by (11.37%) at Rs. 67.10, along with Sterlite Industries by (5.43%) at Rs. 308.45, Tata Steel by (4.71%) at Rs. 176.6, Followed by Sesa Goa Ltd by (4.46%) at Rs. 86.75.

BSE Realty surged by (3.38%) or 49.78 points at 1,521.32. The top gainers in the index are Mahindra Life inclined by (9.14%) to Rs.114.65 along with Akruti City by (6.92%) to Rs. 1687, Penland Ltd by (6.68%) to Rs. 19.95, followed by Indiabul real by (4.35%) at Rs. 92.30.

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