After a firm opening and modest movement thereon, in the key benchmark index, the market drifted on the back of fresh buying in index pivotals led by Realty, Bankex and Capital Goods. This was also due to firm trade in Asian stocks and US stocks overnight. Further, investors’ sentiment turned positive as foreign funds were the net buyers in past trading days. Meanwhile, there is a buzz in the market that the market has bottomed-out and now better demand and some stability in the economy can been seen.
On the sectoral front, traders on-loaded positions across the sectors. Realty stocks advanced on hopes lower rates will spur housing demand as most of the deals are driven by finance. Telecom socks spurted on strong monthly subscriber addition figures. Metal stocks are back in action as steel industry experienced a smart recovery in 4QFY09 on account of a revival of demand from housing, infrastructure and automobile sectors.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,508 stocks traded so far, 1,581 shares advanced while 871 shares declined. Nearly 56 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 302.54 points at 11,249.94 and NSE Nifty is up by 89.69 points at 3,459.20.
The BSE Mid Cap is trading higher by 90.63 points at 3,529.36 and Small cap is trading up by 92.48 points at 4,021.48.
Major gainers from the BSE Sensex pack are Jaiprakash Associates surged 7.05% to Rs. 120.70 along with Reliance Infra advanced 6.22% to Rs. 683.85, State Bank of India Ltd by 5.42% to Rs. 1330.10, Larsen & Toubro Ltd zoomed 5.36% to Rs. 876.10, ICICI Bank by 5.18% to Rs. 448.50, Infosys Technologies Ltd by 4.26% to Rs. 1,398.50, DLF Ltd by 3.90% to Rs. 243.80, Reliance Communication by 3.61% to Rs. 225.30, NTPC by 3.55% to Rs. 202.75, Housing Development Finance Co by 3.52% to Rs. 1,815.00, Tata Steel by 3.14% to Rs. 277.60, Bharti Airtel by 2.73% to Rs. 687.00 among others.
Losers from the BSE Sensex Pack are Hindalco Industries declined 3.63% to Rs. 55.80 along with, Maruti Suzuki plunged 1.24% to Rs. 841.00, Sun Pharma by 1.24% to Rs. 1220.90 and ITC Ltd by 1.10% to Rs. 189.45.
The BSE Realty is higher by 140.44 points or 6.69% at 2,100.74. Stocks trading in rgreen are Unitech Ltd extensively by 19.49% to Rs. 51.80, Mahindra Life Science 10.85% to Rs. 196.15, Anant Raj by 10.00% to Rs. 73.15, Housing Development & Infrastructure Ltd by 6.39% to Rs. 132.35 and Parsvnath by 5.11% to Rs. 49.40 among others.
Larsen & Toubro Ltd zoomed 5.36% to Rs. 876.10 as the company expects its order inflow to grow by 25-35% in the fiscal year ending March 2010.
Suzlon Energy surged 4.19% to Rs. 58.50 on report the company is reportedly seeking to reschedule payments to Portugal''s Martifer SGPS SA for buying a 22.4% stake in German unit REpower Systems AG.
Unitech Ltd extensively by 19.49% to Rs. 51.80 after its board of directors approved raising upto Rs. 5,000 crore by way of issue of equity shares to institutional buyers.
Hindustan Zinc Ltd gained 0.11% to Rs. 494.05 after the company hiked zinc prices by 5%.
Zicom Electronic Security Systems zoomed 4.97% to Rs 84.45 after a block deal of 5 lakh shares was executed on BSE at Rs 84.45 per share
Shakti Pumps India Ltd surged 2.29% to Rs. 62.50 after the firm said a meeting of the board of directors will be held on 28 April 2009 to consider issue of share warrants on preferential basis.
Power Grid Corporation of India spurted 4.49% to Rs. 98.90 after a block deal of 20 lakh shares was executed on NSE at Rs 96.25 per share.
On the sectoral front, traders on-loaded positions across the sectors. Realty stocks advanced on hopes lower rates will spur housing demand as most of the deals are driven by finance. Telecom socks spurted on strong monthly subscriber addition figures. Metal stocks are back in action as steel industry experienced a smart recovery in 4QFY09 on account of a revival of demand from housing, infrastructure and automobile sectors.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,508 stocks traded so far, 1,581 shares advanced while 871 shares declined. Nearly 56 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 302.54 points at 11,249.94 and NSE Nifty is up by 89.69 points at 3,459.20.
The BSE Mid Cap is trading higher by 90.63 points at 3,529.36 and Small cap is trading up by 92.48 points at 4,021.48.
Major gainers from the BSE Sensex pack are Jaiprakash Associates surged 7.05% to Rs. 120.70 along with Reliance Infra advanced 6.22% to Rs. 683.85, State Bank of India Ltd by 5.42% to Rs. 1330.10, Larsen & Toubro Ltd zoomed 5.36% to Rs. 876.10, ICICI Bank by 5.18% to Rs. 448.50, Infosys Technologies Ltd by 4.26% to Rs. 1,398.50, DLF Ltd by 3.90% to Rs. 243.80, Reliance Communication by 3.61% to Rs. 225.30, NTPC by 3.55% to Rs. 202.75, Housing Development Finance Co by 3.52% to Rs. 1,815.00, Tata Steel by 3.14% to Rs. 277.60, Bharti Airtel by 2.73% to Rs. 687.00 among others.
Losers from the BSE Sensex Pack are Hindalco Industries declined 3.63% to Rs. 55.80 along with, Maruti Suzuki plunged 1.24% to Rs. 841.00, Sun Pharma by 1.24% to Rs. 1220.90 and ITC Ltd by 1.10% to Rs. 189.45.
The BSE Realty is higher by 140.44 points or 6.69% at 2,100.74. Stocks trading in rgreen are Unitech Ltd extensively by 19.49% to Rs. 51.80, Mahindra Life Science 10.85% to Rs. 196.15, Anant Raj by 10.00% to Rs. 73.15, Housing Development & Infrastructure Ltd by 6.39% to Rs. 132.35 and Parsvnath by 5.11% to Rs. 49.40 among others.
Larsen & Toubro Ltd zoomed 5.36% to Rs. 876.10 as the company expects its order inflow to grow by 25-35% in the fiscal year ending March 2010.
Suzlon Energy surged 4.19% to Rs. 58.50 on report the company is reportedly seeking to reschedule payments to Portugal''s Martifer SGPS SA for buying a 22.4% stake in German unit REpower Systems AG.
Unitech Ltd extensively by 19.49% to Rs. 51.80 after its board of directors approved raising upto Rs. 5,000 crore by way of issue of equity shares to institutional buyers.
Hindustan Zinc Ltd gained 0.11% to Rs. 494.05 after the company hiked zinc prices by 5%.
Zicom Electronic Security Systems zoomed 4.97% to Rs 84.45 after a block deal of 5 lakh shares was executed on BSE at Rs 84.45 per share
Shakti Pumps India Ltd surged 2.29% to Rs. 62.50 after the firm said a meeting of the board of directors will be held on 28 April 2009 to consider issue of share warrants on preferential basis.
Power Grid Corporation of India spurted 4.49% to Rs. 98.90 after a block deal of 20 lakh shares was executed on NSE at Rs 96.25 per share.
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