Friday, March 13, 2009

Market Spurts: Realty And Banks Leading The Race- March 13, 2009

After a strong opening, the benchmark indices are continuously trading on positive note on the back of phenomenal rally in Wall Street and Asian Markets. The investors are pumped by positive sentiments after the statement came from US''s beleaguered banks that it was profitable in the first two months of 2009. On domestic front, there are almost 8 suitors which have shown their interest in buying ''Satyam''. Further, among those suitors are the 3 multinationals, PE funds and a line up of tier-II Indian IT firms and one top ranked major. Besides, heavy buying is seen across the board with Realty, Bankex and Metal stocks leading the gains. Among the BSE sectroal indices Realty is up by 6.09%, while Bankex and Metal indices are surged by 3.79% and 3.40% respectively. Overall the market breadth is positive as 1226 stocks are trading in green while 551 stocks are in red territory.

At 11.30 AM, the BSE Sensex is up by 247.9 points at 8,591.66 whereas NSE Nifty up by 60.04 points at 2,677.5. The BSE Mid Cap and BSE Small Cap are trading up by 54.01 points and 40.84 points at 2,618.41 and 2,918.12 respectively.

Gainers from the BSE Sensex Pack are DLF Ltd up by (8.15%) to Rs. 148, along with ICICI Bank Ltd by (7.70%) to Rs. 306.15, Tata Motors by (5.34%) to Rs. 153.75, Sterlite industries by (5.19%) to Rs. 275.8, Housing Development Finance Corporation by (5.04%) to Rs. 1348, Tata Steel by (4.94%) at Rs. 163.65, Reliance Infrastructure by (4.74%) at Rs. 462.7 and Reliance Communication by (4.63%) at Rs. 144.7.

Gainers from the NSE Nifty Pack are DLF Ltd up by (8.42%) at Rs. 148.15 along with Tata Communication by (7.94%) at Rs. 447, ICICI Bank by (7.83%) at Rs. 306.4, PNB Ltd by (6.69%) at Rs. 337.5, Reliance capital by (5.93%) at Rs. 301 and Tata Motors by (5.20%) at Rs. 153.65.

BSE Realty surged by (6.09%) or 79.71 points at 1,389.12. The top gainers in the index are DLF Ltd up by (8.15%) to Rs. 148 along with Mahindra Life by (7.21%) to Rs. 90, Housing Dev by (5.08%) to Rs. 67.25, Indiabulls Real by (5.08%) to Rs. 89.95, Akruti City by (4.96%) to Rs. 1,129 followed by Ansal Infras by (4.58%) at Rs. 22.85.

BSE Bankex is trading higher by (3.79%) or 142.33 points at 3,896.55. The major gainers are ICICI Bank trading higher by (7.70%) to Rs. 306.15, along with Bank of Baroda by (5.81%) at Rs.202.15, along with Axis Bank by (5.80%) at Rs.322, PNB by (5.66%) at Rs. 334.25, IDBI bank by (4.84%) at Rs. 42.20, followed by SBI by (3.96%) to Rs. 947.

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