The key benchmark index spurted as other Asian markets are trading firm in the northward direction. Better than expected results from the corporate are also adding strength of buyers. According to sources, rollover of Nifty position from April''09 series to May''09 series stood at 61% and those of stock futures were 54% as on Tuesday 28th April 2009, giving strong outlook for days ahead. However, there is concern that the Swine flu outbreak could be a worry as it would disturb business traveling.
On the sectoral front, traders on-loaded positions across the sectors. IT stocks advanced on hopes aggressive measures by the US government to revive the economy may bear fruit. Banking stocks spurted on hopes falling interest rates will blossom lending growth. Auto stocks grew on hopes lower interest rates will boost demand which is mainly driven by finance. Realty stocks rose on recent report of revival in demand for new homes in 4Q March 2009.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,337 stocks traded so far, 1,230 shares advanced while 1,027 shares declined. Nearly 80 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 226.07 points at 11,227.83 and NSE Nifty is up by 65.79 points at 3,428.15.
The BSE Mid Cap is trading higher by 25.10 points at 3,475.81 and Small cap is trading up by 38.07 points at 3,926.39.
Major gainers from the BSE Sensex pack are ICICI Bank surged 4.09% to Rs. 457.30 along with Infosys Technologies Ltd by 3.99% to Rs. 1488.60 Sun Pharma by 4.01% to Rs. 1,274.95, DLF Ltd by 3.94% to Rs. 233.65, Wipro Ltd by 3.58% to Rs. 326.70, Housing Development Finance Company by 3.41% to Rs. 1,728.00, Jaiprakash Associates by 3.08% to Rs. 133.90, Reliance Infra by 2.84% to Rs. 680.95, ONGC Ltd by 2.70% to Rs. 855.20, Reliance Communication Ltd by 2.41% to Rs. 212.55 and TCS Ltd by 2.38% to Rs. 612.85.
Losers from the BSE Sensex Pack are Tata Motors by 0.60% to Rs. 231.40 along with, Larsen & Toubro plunged 0.53% to Rs. 868.00, Ranbaxy Labs by 0.18% to Rs. 165.00 and Tata Steel by 0.15% to Rs. 233.95 among others.
The BSE IT is higher by 87.20 points or 3.44% at 2,625.04. Stocks trading in green are Patni Computers Ltd by 7.41% to Rs. 161.55, Infosys Technologies Ltd by 3.99% to Rs. 1,488.60, Wipro Ltd by 3.52% to Rs. 326.50, Mphasis Ltd by 3.43% to Rs. 224.80, Oracle Fin by 3.29% to Rs. 870.00, Financ Tech by 3.21% to Rs. 683.00 and Tech Mahindra by 2.29% to Rs. 325.50 among others.
India Infoline advanced 0.59% to Rs. 76.20 despite net profit plunged for quarter ended March 2009.
ABB Ltd advanced 0.98% to Rs. 482.50 on bagging orders worth Rs 425 crore from Power Grid Corporation of India.
Reliance Industries Ltd spurted 2.02% to Rs. 1,771.90 after the Company signed a pact to sell natural gas from its offshore field to nine power companies.
Infrastructure Development Finance Company Ltd surged 7.67% to Rs. 73.00 after net profit rose for the quarter ended March 2009.
Firstsource Solutions Ltd zoomed up 2.89% to Rs. 16.00 after consolidated net profit surged for the quarter ended March 2009.
Sterlite Industries India advanced 2.82% to Rs. 394.00 on better-than-expected quarterly performance.
Bharti Airtel gained 0.58% to Rs. 729.90 as consolidated profit reported stronger than expected report.
Man Industries (India) Ltd locked at upper limit of 10% at Rs. 31.80 on winning an order worth Rs. 1,340 crore from the Middle East, taking its order book to Rs. 2,000 crore.
On the sectoral front, traders on-loaded positions across the sectors. IT stocks advanced on hopes aggressive measures by the US government to revive the economy may bear fruit. Banking stocks spurted on hopes falling interest rates will blossom lending growth. Auto stocks grew on hopes lower interest rates will boost demand which is mainly driven by finance. Realty stocks rose on recent report of revival in demand for new homes in 4Q March 2009.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,337 stocks traded so far, 1,230 shares advanced while 1,027 shares declined. Nearly 80 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 226.07 points at 11,227.83 and NSE Nifty is up by 65.79 points at 3,428.15.
The BSE Mid Cap is trading higher by 25.10 points at 3,475.81 and Small cap is trading up by 38.07 points at 3,926.39.
Major gainers from the BSE Sensex pack are ICICI Bank surged 4.09% to Rs. 457.30 along with Infosys Technologies Ltd by 3.99% to Rs. 1488.60 Sun Pharma by 4.01% to Rs. 1,274.95, DLF Ltd by 3.94% to Rs. 233.65, Wipro Ltd by 3.58% to Rs. 326.70, Housing Development Finance Company by 3.41% to Rs. 1,728.00, Jaiprakash Associates by 3.08% to Rs. 133.90, Reliance Infra by 2.84% to Rs. 680.95, ONGC Ltd by 2.70% to Rs. 855.20, Reliance Communication Ltd by 2.41% to Rs. 212.55 and TCS Ltd by 2.38% to Rs. 612.85.
Losers from the BSE Sensex Pack are Tata Motors by 0.60% to Rs. 231.40 along with, Larsen & Toubro plunged 0.53% to Rs. 868.00, Ranbaxy Labs by 0.18% to Rs. 165.00 and Tata Steel by 0.15% to Rs. 233.95 among others.
The BSE IT is higher by 87.20 points or 3.44% at 2,625.04. Stocks trading in green are Patni Computers Ltd by 7.41% to Rs. 161.55, Infosys Technologies Ltd by 3.99% to Rs. 1,488.60, Wipro Ltd by 3.52% to Rs. 326.50, Mphasis Ltd by 3.43% to Rs. 224.80, Oracle Fin by 3.29% to Rs. 870.00, Financ Tech by 3.21% to Rs. 683.00 and Tech Mahindra by 2.29% to Rs. 325.50 among others.
India Infoline advanced 0.59% to Rs. 76.20 despite net profit plunged for quarter ended March 2009.
ABB Ltd advanced 0.98% to Rs. 482.50 on bagging orders worth Rs 425 crore from Power Grid Corporation of India.
Reliance Industries Ltd spurted 2.02% to Rs. 1,771.90 after the Company signed a pact to sell natural gas from its offshore field to nine power companies.
Infrastructure Development Finance Company Ltd surged 7.67% to Rs. 73.00 after net profit rose for the quarter ended March 2009.
Firstsource Solutions Ltd zoomed up 2.89% to Rs. 16.00 after consolidated net profit surged for the quarter ended March 2009.
Sterlite Industries India advanced 2.82% to Rs. 394.00 on better-than-expected quarterly performance.
Bharti Airtel gained 0.58% to Rs. 729.90 as consolidated profit reported stronger than expected report.
Man Industries (India) Ltd locked at upper limit of 10% at Rs. 31.80 on winning an order worth Rs. 1,340 crore from the Middle East, taking its order book to Rs. 2,000 crore.
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