Thursday, March 19, 2009

Market Turned Choppy After A Positive Opening- March 19, 2009

The key benchmark indices have pared off its gains due to profit booking pressures, however still trading in the positive zone. Positive cues from most of the Asian markets and an overnight rally in US market due to fresh effort taken by U.S. fed to lift the slowing economy has helped investors to take fresh positions. The weekly inflation data to come in a couple of hours may influence the market movements. During the last hour, the buying interest has emerged in Realty and Consumer Durable stocks, whereas selling pressure is seen across Auto and FMCG counters. Among the sectoral indices, the BSE Realty and IT index is up by 2.03% and 1.39% respectively, while FMCG and Auto index slipped by 1.34% and 0.56% respectively. Overall the market breadth is positive as 1140 stocks are trading in green while 734 stocks are in red.

At 11.30 AM, the BSE Sensex up by 28.15 points at 9,004.84 whereas NSE Nifty inclined by 5.65 points at 2,800.35. The BSE Mid Cap and Small Cap are trading higher by 21.44 points and 36.41 points at 2,781.34 and 3,100.89 respectively.

Gainers from the BSE Sensex Pack are HDFC Ltd up by (2.11%) to Rs. 1,382.25, along with Sterlite Industries by (2.02%) to Rs. 307.8, Sun Pharmaceutical by (1.72%) at Rs. 1,014, Jai Prakash associate by (1.71%) at Rs. 80.5, TCS Ltd by (1.69%) at Rs. 515.15 and Infosys Tech by (1.53%) at Rs.1,297.

Gainers from the NSE Nifty Pack are Idea Cellular by (4.98%) at Rs. 48.5 along with Tata Communication by (2.58%) at Rs. 452.7, TCS Ltd by (2.16%) at Rs. 516.05, Sterlite industries Ltd by (2.06%) at Rs. 307.5 and HDFC Ltd by (2.05%) at Rs. 1,381.8.

BSE Realty is trading higher by (2.03%) or 32.19 points at 1,616.24. The major gainers are Akruti City trading up by (6.25%) at Rs. 2,138, along with Penland Ltd by (4.51%) at Rs. 20.85, Indianbul Real by (4.24%) at Rs. 95.80, Followed by Omaxe Ltd by (1.99%) at Rs. 43.65.

BSE FMCG is trading lower by (1.13%) or 21.69 points at 1,902.39. The top losers in the index are HUL declined by (2.71%) to Rs.226.4 along with Marico Ltd by (2.11%) to Rs. 60.30, United Spr by (1.92%) to Rs. 675, followed by Britania Industries by (0.8%) at Rs. 1,325.

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