The key benchmark indices leaped on account of defensive buying in Consumer Durables, Metals and Realty stocks. The market pared some of its early gains on profit booking following the trend of Asian market which too shed some early gains. Firm Asian markets, resumption of buying by foreign and resolution of G-20 summit lifted the sentiments.
On the other hand, increasing concerns over unemployment, Consumer spending, trade deficit and high Consumer price index threaten the momentum build in stock market in couple of past trading sessions.
On the sectoral front, traders on-loaded position across the sectors except in IT and FMCG. Realty stocks advanced on hopes lower rates will spur housing demand. Banking stocks shed early gains on fear of rising defaults in a weakening economy. IT stocks fell on stronger rupee against dollar. Metal stocks gained as primary metal prices indicated some recovery in past trading session.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,401 stocks traded so far, 1,651 shares advanced while 672 shares declined. Nearly 78 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 186.89 points at 10,535.72 and NSE Nifty is up by 53.3 points at 3,264.35.
The BSE Mid Cap is trading higher by 48.89 points at 3,174.31 and Small cap is trading up by 74.45 points at 3,511.37.
Major gainers from the BSE Sensex pack are Reliance Communication gained 9.86% to Rs. 215.50 along with Mahindra & Mahindra advanced 7.71% to Rs. 452.50, Larsen & Toubro Ltd 5.55% to Rs. 757.05, DLF Ltd by 5.16% to Rs. 213.85, Housing Development Finance Co by 4.96% to Rs. 1,661.00, Bharti Airtel by 4.63% to Rs. 668.00, Tata Steel advanced 4.02% to Rs. 233.90, Hindalco by 2.57% to Rs. 57.80, Tata Motors by 2.49% to Rs. 208.00 and Reliance Infra by 2.16% to Rs. 587.70 among others.
Losers from the BSE Sensex Pack are Hindustan Uniliver by 2.43% to Rs. 225.30 along with Ranbaxy Labs slipped 2.14% to Rs. 182.60 and Infosys Technologies by 1.86% to Rs. 1,394.00 among others.
The BSE FMCG is lower by 23.37 points or 1.15% at 2,002.93. Stocks trading in red are Colgate-Palmolive plunged 3.23% to Rs. 443.90, United Sperit 2.86% to Rs. 673.85, Hindustan Uniliver by 2.43% to Rs. 225.30, United Brew by 1.21% to Rs. 98.35 and ITC Ltd by 0.97% to Rs. 183.30 among others.
Tata Steel advanced 4.02% to Rs. 233.90 on reports its output grew 12.6% to 5.6 million tons for FY09 over FY08.
JSW Steel surged 7.75% to Rs. 328.00 on reports 11% growth in crude steel production to 11.06 lakh tons in 4QFY09 over 4QFY08.
Max India rose 1.78% to Rs. 105.90 after a foreign fund T. Rowe Price International AC New Asia Fund bought 18.61 lakh shares of the company at Rs. 104 each from the open market on 2 April 2009.
Hindustan Construction Company surged 5.27% to Rs. 45.95 on report the company that Bennett Coleman & Company invested Rs 81.25 crore in unlisted unit Lavasa Corporation via convertible warrants.
IVRCL Infrastructure & Projects advanced 6.92% to Rs 156.90 on bagging new orders aggregating Rs. 359.52 crore.
Fag Bearings India soared 4.04% to Rs. 298.80 after a block deal of 4.47 lakh shares was executed on BSE at Rs 283 per share.
Satyam Computer Services surged 14.04% to Rs. 45.50 on reports private equity investor Wilbur Ross and Larsen & Toubro may reportedly jointly bid for a controlling stake in the Company.
HCL Technologies drifted 8.10% to Rs. 115.40 on reports the firm has bagged a five-year IT services contract worth close to $170 million from US-based Microsoft Corporation.
Cairn India spurted 1.20% to Rs. 202.20, as crude oil prices surged nearly 2% in Asian electronic trades on 6 April 2009.
On the other hand, increasing concerns over unemployment, Consumer spending, trade deficit and high Consumer price index threaten the momentum build in stock market in couple of past trading sessions.
On the sectoral front, traders on-loaded position across the sectors except in IT and FMCG. Realty stocks advanced on hopes lower rates will spur housing demand. Banking stocks shed early gains on fear of rising defaults in a weakening economy. IT stocks fell on stronger rupee against dollar. Metal stocks gained as primary metal prices indicated some recovery in past trading session.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,401 stocks traded so far, 1,651 shares advanced while 672 shares declined. Nearly 78 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 186.89 points at 10,535.72 and NSE Nifty is up by 53.3 points at 3,264.35.
The BSE Mid Cap is trading higher by 48.89 points at 3,174.31 and Small cap is trading up by 74.45 points at 3,511.37.
Major gainers from the BSE Sensex pack are Reliance Communication gained 9.86% to Rs. 215.50 along with Mahindra & Mahindra advanced 7.71% to Rs. 452.50, Larsen & Toubro Ltd 5.55% to Rs. 757.05, DLF Ltd by 5.16% to Rs. 213.85, Housing Development Finance Co by 4.96% to Rs. 1,661.00, Bharti Airtel by 4.63% to Rs. 668.00, Tata Steel advanced 4.02% to Rs. 233.90, Hindalco by 2.57% to Rs. 57.80, Tata Motors by 2.49% to Rs. 208.00 and Reliance Infra by 2.16% to Rs. 587.70 among others.
Losers from the BSE Sensex Pack are Hindustan Uniliver by 2.43% to Rs. 225.30 along with Ranbaxy Labs slipped 2.14% to Rs. 182.60 and Infosys Technologies by 1.86% to Rs. 1,394.00 among others.
The BSE FMCG is lower by 23.37 points or 1.15% at 2,002.93. Stocks trading in red are Colgate-Palmolive plunged 3.23% to Rs. 443.90, United Sperit 2.86% to Rs. 673.85, Hindustan Uniliver by 2.43% to Rs. 225.30, United Brew by 1.21% to Rs. 98.35 and ITC Ltd by 0.97% to Rs. 183.30 among others.
Tata Steel advanced 4.02% to Rs. 233.90 on reports its output grew 12.6% to 5.6 million tons for FY09 over FY08.
JSW Steel surged 7.75% to Rs. 328.00 on reports 11% growth in crude steel production to 11.06 lakh tons in 4QFY09 over 4QFY08.
Max India rose 1.78% to Rs. 105.90 after a foreign fund T. Rowe Price International AC New Asia Fund bought 18.61 lakh shares of the company at Rs. 104 each from the open market on 2 April 2009.
Hindustan Construction Company surged 5.27% to Rs. 45.95 on report the company that Bennett Coleman & Company invested Rs 81.25 crore in unlisted unit Lavasa Corporation via convertible warrants.
IVRCL Infrastructure & Projects advanced 6.92% to Rs 156.90 on bagging new orders aggregating Rs. 359.52 crore.
Fag Bearings India soared 4.04% to Rs. 298.80 after a block deal of 4.47 lakh shares was executed on BSE at Rs 283 per share.
Satyam Computer Services surged 14.04% to Rs. 45.50 on reports private equity investor Wilbur Ross and Larsen & Toubro may reportedly jointly bid for a controlling stake in the Company.
HCL Technologies drifted 8.10% to Rs. 115.40 on reports the firm has bagged a five-year IT services contract worth close to $170 million from US-based Microsoft Corporation.
Cairn India spurted 1.20% to Rs. 202.20, as crude oil prices surged nearly 2% in Asian electronic trades on 6 April 2009.
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