The key benchmark Indices recovered on reports of improvement in manufacturing sector. Market is hopeful on G-20 Summit on positive notes. Concern about current credit crisis softened on report that Indian Corporates raised Rs. 37,800 crore in 4QFY09 through bond sales, a record quarterly collection. Moreover, investors are thoughtful that, sooner the global financial crisis ends and earlier the risk appetite of global investors and companies round the world stabilize, better it will be for India Inc.
On the sectoral front, traders on-loaded position across the sectors except in FMCG and Health Care index. Metal stocks gained as six primary metal traded in London Metal exchange advanced overnight. Cement stocks advanced on report of rise in demand. Oil&Gas stocks grew after the government oil bonds to compensate companies for under-recoveries on sale of petroleum products at a restricted price during the current financial year. Auto stocks gained on reports the government plans to extend higher depreciation benefit of 50% on commercial vehicles by three months till June 2009. Banking stocks bounced back after touching days low. Realty stocks gained on hopes lower rates will spur housing demand.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,231 stocks traded so far, 1,560 shares advanced while 607 shares declined. Nearly 64 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 36.51 points at 9,745.01 and NSE Nifty is up by 4.19 points at 3,025.15.
The BSE Mid Cap is trading higher by 35.13 points at 2,991.36 and Small cap is trading up by 69.00 points at 3,315.64.
Major gainers from the BSE Sensex pack are Ranbaxy Laboratories zoomed 6.91% to Rs. 177.05 along with Housing Development Finance Co advanced 5.94% to Rs. 1,495.00, DLF advanced 3.83% to Rs. 173.60, Reliance Communication by 3.18% to Rs. 180.15, Tata Power by 2.77% to Rs. 786.50, Tata Steel by 2.18% to Rs. 210.50, ONGC by 2.09% to Rs. 796.00, Reliance Infra by 1.97% to Rs. 525.50, ACC Ltd by 1.83% to Rs. 587.20, ICICI Bank by 1.56% to Rs. 337.80 and Infosys Tech by 1.51% to Rs. 1,344.05 among others.
Losers from the BSE Sensex Pack are Sun Pharma slumped 4.26% to Rs. 1,065.00 along with Hindustan Uniliver Ltd slipped 3.02% to Rs. 231.00, Tata Motors by 2.33% to Rs. 176.10, Grasim Industries Ltd by 1.95% to Rs. 1,546.00, Bharti Airtel by 1.88% to Rs. 614.05, NTPC by 1.61% to Rs. 177.30 and ITC Ltd by 1.19% to Rs. 182.60 among others.
The BSE Realty index is higher by 54.42 points or 3.49% at 1,615.25. Stocks trading in green are Anant Raj In surged 12.44% to Rs. 45.20, Unitech Ltd 7.15% to Rs. 37.45, Penland Ltd by 6.21% to Rs. 23.10 and Parsvnath by 5.10% to Rs. 38.10 among others.
Geodesic Ltd zoomed 10.71% to Rs. 69.25 on report that it has repurchased foreign currency convertible bonds worth $8.5 million.
Hindustan Construction soared 2.68% to Rs. 40.25 on bagging an order worth Rs 688.06 crore.
Anu''s Laboratories advanced 1.71% to Rs. 267.00 on stock split news.
Ranbaxy Laboratories zoomed 6.91% to Rs. 177.05 on reports that Daiichi Sankyo will meet US drug regulators next month to sort out issues at Ranbaxy''s Poanta Sahib plant in India.
GTL Infrastructure advanced 4.24% to Rs. 30.75 after a block deal of stock.
TVS Motor Company gained 1.77% to Rs. 23.05 after the Company reported robust sales figure.
MIC Electronics zoomed 19.89% to Rs. 21.40 after the company won rental orders worth Rs 3 crore for display units from various clients.
DLF advanced 3.83% to Rs. 173.60 on reports several companies have evinced interest in acquiring the wind power business of the company.
On the sectoral front, traders on-loaded position across the sectors except in FMCG and Health Care index. Metal stocks gained as six primary metal traded in London Metal exchange advanced overnight. Cement stocks advanced on report of rise in demand. Oil&Gas stocks grew after the government oil bonds to compensate companies for under-recoveries on sale of petroleum products at a restricted price during the current financial year. Auto stocks gained on reports the government plans to extend higher depreciation benefit of 50% on commercial vehicles by three months till June 2009. Banking stocks bounced back after touching days low. Realty stocks gained on hopes lower rates will spur housing demand.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,231 stocks traded so far, 1,560 shares advanced while 607 shares declined. Nearly 64 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 36.51 points at 9,745.01 and NSE Nifty is up by 4.19 points at 3,025.15.
The BSE Mid Cap is trading higher by 35.13 points at 2,991.36 and Small cap is trading up by 69.00 points at 3,315.64.
Major gainers from the BSE Sensex pack are Ranbaxy Laboratories zoomed 6.91% to Rs. 177.05 along with Housing Development Finance Co advanced 5.94% to Rs. 1,495.00, DLF advanced 3.83% to Rs. 173.60, Reliance Communication by 3.18% to Rs. 180.15, Tata Power by 2.77% to Rs. 786.50, Tata Steel by 2.18% to Rs. 210.50, ONGC by 2.09% to Rs. 796.00, Reliance Infra by 1.97% to Rs. 525.50, ACC Ltd by 1.83% to Rs. 587.20, ICICI Bank by 1.56% to Rs. 337.80 and Infosys Tech by 1.51% to Rs. 1,344.05 among others.
Losers from the BSE Sensex Pack are Sun Pharma slumped 4.26% to Rs. 1,065.00 along with Hindustan Uniliver Ltd slipped 3.02% to Rs. 231.00, Tata Motors by 2.33% to Rs. 176.10, Grasim Industries Ltd by 1.95% to Rs. 1,546.00, Bharti Airtel by 1.88% to Rs. 614.05, NTPC by 1.61% to Rs. 177.30 and ITC Ltd by 1.19% to Rs. 182.60 among others.
The BSE Realty index is higher by 54.42 points or 3.49% at 1,615.25. Stocks trading in green are Anant Raj In surged 12.44% to Rs. 45.20, Unitech Ltd 7.15% to Rs. 37.45, Penland Ltd by 6.21% to Rs. 23.10 and Parsvnath by 5.10% to Rs. 38.10 among others.
Geodesic Ltd zoomed 10.71% to Rs. 69.25 on report that it has repurchased foreign currency convertible bonds worth $8.5 million.
Hindustan Construction soared 2.68% to Rs. 40.25 on bagging an order worth Rs 688.06 crore.
Anu''s Laboratories advanced 1.71% to Rs. 267.00 on stock split news.
Ranbaxy Laboratories zoomed 6.91% to Rs. 177.05 on reports that Daiichi Sankyo will meet US drug regulators next month to sort out issues at Ranbaxy''s Poanta Sahib plant in India.
GTL Infrastructure advanced 4.24% to Rs. 30.75 after a block deal of stock.
TVS Motor Company gained 1.77% to Rs. 23.05 after the Company reported robust sales figure.
MIC Electronics zoomed 19.89% to Rs. 21.40 after the company won rental orders worth Rs 3 crore for display units from various clients.
DLF advanced 3.83% to Rs. 173.60 on reports several companies have evinced interest in acquiring the wind power business of the company.
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