Thursday, April 2, 2009

Market Soars: Realty, Metal Leading The Race - April 02, 2009

After a strong opening, the key benchmark indices are continuously trading higher backed by overnight rally in US followed by all the major Asian Markets. Besides the rupee appreciation against dollar is an indication of more inflow of funds into the Indian market, which also helped traders to play with positive sentiments. On stock specific news, Suzlon Energy is trading higher by 7.5% on account of signing a USD 45 mn deal with US-based Duke Energy for supply of 20 wind turbines.

During the last hour, the buying interest has emerged across all around led by Realty, Metal and Banking stocks, which surged by 5.90%, 5.10% and 5.03% respectively. Overall the market breadth is positive as 1594 stocks are trading in red while 405 stocks are in green.

At 11.32 AM, the BSE Sensex up by 412.06 points at 10,314 while NSE Nifty surged by 122.79 points at 3,183.15. The BSE Mid Cap and Small Cap are trading higher by 55.57 points and 93.24 points to 3,011.8 and 3,339.87 respectively.

Gainers from the BSE Sensex Pack are Tata Motors up by (9.59%) to Rs. 197.1, along with Jaiprakash Associates by (8.96%) to Rs. 93.05, DLF Ltd by (8.80%) at Rs. 192.25, ICICI Bank by (7%) at Rs. 373.9, Reliance Infrastructure by (7%) at Rs. 588 and Mahindra and Mahindra by (5.98%) at Rs.418.2.

Gainers from the NSE Nifty Pack are Tata Motors by (9.94%) at Rs. 197.9 along with DLF Ltd by (9.20%) at Rs. 193.4, Cairn India by (8.26%) at Rs. 196.5, Reliance Capital by (7.74%) at Rs. 416.1, Suzlon Energy by (7.73%) at Rs. 50.15, National aluminium co by (7.41%) at Rs. 232.7 and ICICI bank Ltd by (7.27%) at Rs. 374.75.

BSE Realty is trading higher by (5.90%) or 97.02 points at 1,742.34. The major gainers are DLF Ltd trading up by (8.80%) at Rs. 192.25, along with Indiabul real estate by (8.16%) at Rs. 109.30, Housing Dev by (7.95%) at Rs. 97.05, Penland Ltd by (7.30%) at Rs. 25, Anant Raj industries by (5.64%) at Rs.50.60, Followed by Orbit co by (4.64%) at Rs. 58.65.

BSE Metal surged by (5.10%) or 297.22 points at 6,122.29. The top gainers in the index are JSW SL up by (10.74%) to Rs.276.75 along with Welsp Guj SR by (7.02%) to Rs. 83.10, SAIL by (6.37%) to Rs. 103.60, Tata Steel by (6.27%) to Rs. 223, Sesa Goa by (6.15%) to Rs. 106.10, followed by Sterlite Industries by (5.88%) at Rs. 372.

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