Monday, April 6, 2009

The Domestic Markets Are Tracking Rally Of The Asian Markets - April 06, 2009

After a superb opening, the key benchmark indices have now pared off its early gains due to profit booking pressures. The domestic markets are tracking the rally of the other Asian markets and the opening of the European markets would play a crucial role deciding the further trend of the Asian markets. On a stock specific move, JSW Steel is trading up by nearly 9% after it record highest steel output in Q4'' FY09.

The steel manufacturer achieved record growth in steel production of nearly 11% to 11.06 lakh tonne over the corresponding quarter last year. During the last hour, all the indices are in green and buying interest has emerged in CD, Metal and Banking stocks.

Among the sectoral indices, the BSE CD and Metal indices are trading up by 4.83% and 3.55% respectively, while BSE FMCG index is marginal down by 0.53%. Overall the market breadth is positive as 1468 stocks are trading in green while 433 stocks are in red.

At 11.30 AM, the BSE Sensex up by 185.23 points at 10,534.07 while NSE Nifty surged by 49.3 points at 3,260.35. Along with this, the BSE Mid Cap and Small Cap are trading higher by 57.46 points and 77.07 points at 3182.88 and 3,513.99 respectively.

Gainers from the BSE Sensex Pack are Hindalco Industries surged by (6.30%) to Rs. 59.9, along with Reliance Communication Ltd by (5.66%) to Rs. 207.25, Mahindra & Mahindra Ltd by (5.45%) at Rs. 443, DLF Ltd by (5.02%) at Rs. 213.55, HDFC Ltd by (4.91%) at Rs. 1660.25 and Tata Steel by (4.07%) at Rs.234.

Gainers from the NSE Nifty Pack are Suzlon Energy up by (9.14%) at Rs. 55.55 along with HCL Tech by (8.18%) at Rs. 115.7, Hindalco Industries by (5.84%) at Rs. 59.8, Mahindra & Mahindra Ltd by (5.46%) at Rs. 443.5, DLF Ltd by (5.31%) at Rs. 5.31 and HDFC Ltd by (5.27%) at Rs. 1660.

BSE CD is trading higher by (4.83%) or 82.97 points at 1,800.14. The major gainers are Gitanjali GE up by (19.52%) at Rs. 59.40 along with Blue Star Ltd by (6.01%) at Rs. 171.90, Videocon Industries by (3.11%) at Rs. 96 followed by Titan Industries by (3%) at Rs. 837.

BSE Metal is trading up by (3.55%) or 221.12 points at 6,445.31. The top gainers in the index are JSW SL surged by (8.25%) to Rs.329.5 along with Hind Zinc by (5.06%) to Rs. 496, Hindalco Industries by (6.30%) to Rs. 59.9, Jindal Steel by (4.59%) to Rs. 1280, followed by NMDC Ltd by (4.45%) at Rs. 167.9.

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