Thursday, March 12, 2009

Market Upward: Eyes On Industrial Output Data- March 12, 2009

The fresh buying has pushed the domestic benchmark indices into the northward direction. The domestic markets have joined the rally across US markets in the last two sessions when the Indian markets were closed due to festival. However, the other Asian markets are trading negative on apprehensions over deepening global recession that may result dent future earnings of large cap companies. Further investors are also eying on January''s industrial output data which is expected to be announced today. Besides, buying interest has emerged across the board with IT, FMCG and Oil & Gas stocks leading the gainers list. On the sectoral front, The BSE IT is up by 2.57% and the BSE FMCG index has surged around 2.10%. Overall the market breadth is positive as 948 stocks are trading in green while 682 stocks are in red.

At 11.30 AM, the BSE Sensex up by 144.98 points at 8,305.39 and NSE Nifty inclined by 35.2 points at 2,608.35. The BSE Mid Cap and Small Cap are trading up by 10.9 points and 14.18 points at 2,564.52 and 2,880.86 respectively.

Gainers from the BSE Sensex Pack are ICICI Bank up by (4.62%) to Rs. 275.1, along with Sterlite Indus by (4.40%) to Rs. 255.2, HUL by (3.81%) at Rs. 224.75, Maruti Suzuki by (3.72%) at Rs. 674.9, Reliance Industries by (2.92%) at Rs.1,187.6 and Infosys Tech by (2.88%) at Rs. 1,231.25.

Gainers from the NSE Nifty Pack are ICICI bank Ltd by (4.89%) at Rs.275.8 along with Sterlite Industries by (4.40%) at Rs. 255.25, HUL by (4.28%) at Rs. 225.5, Maruti Suzuki by (3.75%) at Rs. 676.35 and SAIL by (3.61%) at Rs.77.5.

BSE IT is trading up by (2.57%) or 52.14 points at 2,077.43. The top gainers in the index are Finance Tech by (4.32%) to Rs.467 along with Rolta India by (3.85%) to Rs. 44.55, Tech Mahindra by (2.91%) to Rs. 270.70, Infosys Tech by (2.88%) and Mphasis Ltd by (2.71%) to Rs. 184.

BSE FMCG surged by (2.10%) or 37.94 points at 1,840.51. The major gainers are HUL trading up by (3.81%) at Rs. 224.75, along with ITC Ltd by (2.69%) at Rs. 162.45, Britania Ind by (1.05%) at Rs.1,242.90, Nestle Ltd by (0.99%) at Rs. 1,445, followed by Godrej cons by (0.44%) to Rs. 125.50.

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