Wednesday, April 22, 2009

Market Positive: But Investors Are Looking Cautious - April 22, 2009

The key benchmark indices are trading in green territory on account of bounce back from yesterday''s fall. Investors are likely to remain cautious on account of corporate results session. On a stock specific move, Wipro Ltd is trading up by nearly 5.5% after it recorded sharp rise in consolidated net profit for the quarter ended 31st March 2009.

During the last hour, all the indices are in green and buying interest has emerged in Realty, Banking and Metal stocks. Among the sectoral indices, the BSE Realty and Bankex indices are trading up by 1.85% and 1.84% respectively, while BSE Metal and CG indices are up by 1.59% and 1.21% respectively. Overall the market breadth is positive as 1399 stocks are trading in green while 540 stocks are in red.

The BSE Sensex up by 83.51 points at 10,981.62 while NSE Nifty surged by 11.89 points at 3,377.2. Along with this, the BSE Mid Cap and Small Cap are trading higher by 48.83 points and 37.25 points at 3,571.97 and 4,065.23 respectively.

Gainers from the BSE Sensex Pack are Wipro Ltd surged by (5.38%) to Rs. 289, along with Reliance Infrastructure Ltd by (3.08%) to Rs. 696.05, Reliance Communication Ltd by (2.81%) at Rs. 224.75, ACC Ltd by (2.65%) at Rs. 629.75, ICICI Bank Ltd by (2.65%) at Rs. 409.35 and DLF Ltd by (2.63%) at Rs.243.6.

Gainers from the NSE Nifty Pack are Suzlon Energy up by (6.88%) at Rs. 61.35 along with Wipro Ltd by (5.45%) at Rs. 289.45, PNB by (4.33%) at Rs. 485.9, Reliance Capital Ltd by (3.93%) at Rs. 526.9, Reliance Infrastructure by (3.35%) at Rs. 696.4 and Reliance Communication Ltd by (3.16%) at Rs. 225.4.

BSE Realty is trading higher by (1.85%) or 41.68 points at 2,290.99. The major gainers are Omaxe Ltd up by (5.29%) at Rs. 60.70 along with Anant Raj by (4.96%) at Rs. 92, DLF Ltd by (2.63%) at Rs.243.6 followed by Parsvnath Ltd by (2.25%) at Rs. 54.50.

BSE Bankex is trading up by (1.84%) or 97.64 points at 5,414.34. The top gainers in the index are Yes Bank surged by (4.45%) to Rs.83.40 along with PNB by (3.94%) to Rs. 483.95, Bank of Baroda by (3.85%) to Rs. 293, Karnataka Bank by (3.21%) to Rs. 90.05, followed by Bank of India Ltd by (3.06%) at Rs. 257.55.

Wipro posted a consolidated net profit of Rs 10100 million for the quarter ended March 31, 2009 as compared to Rs 8800 million for the quarter ended March 31, 2008. Total Income has increased from Rs 57974 million for the quarter ended March 31, 2008 to Rs 65832 million for the quarter ended March 31, 2009.

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