The key benchmark index triggered on the back of solid gains in Realty, Auto, Capital Goods and Consumer Durables indices. Despite weak global cues and dismal guidance by IT heavyweight Infosys Technologies for the fiscal year ended March 2010, the market breached the psychological mile stone of 11,000 mark. The market sentiments were boosted by fresh buying by foreign funds. Phenomenal buying has also been observed on the bottom line stocks since the last week.
On the sectoral front, traders on-loaded positions across the sectors except in IT and Teck stocks. Realty stocks advanced on hopes lower rates will spur housing demand as most of the deals are driven by finance. Telecom socks spurted on strong monthly subscriber addition figures. Banking stocks advanced on expectation of a further easing of the monetary policy by the regulatory body with headline inflation nearing to zero.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,539 stocks traded so far, 2,067 shares advanced while 418 shares declined. Nearly 54 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 155.71 points at 11,122.94 and NSE Nifty is up by 51.45 points at 3,434.05.
The BSE Mid Cap is trading higher by 147.11 points at 3,612.03 and Small cap is trading up by 202.78 points at 4,117.95.
Major gainers from the BSE Sensex pack are Tata Motors surged 12.13% to Rs. 282.80 along with Mahindra & Mahindra advanced 9.79% to Rs. 493.95, Hindalco Industries 6.05% to Rs. 63.15, Ranbaxy Labs by 5.00% to Rs. 197.50, BHEL by 4.90% to Rs. 1,600.00, Tata Steel advanced 4.68% to Rs. 296.15 and Jaiprakash Associates soared 4.51% to Rs. 122.90 among others.
Losers from the BSE Sensex Pack are Infosys Technologies declined 4.56% to Rs. 1,344.80 along with, TCS Ltd plunged 3.53% to Rs. 570.80, HBFC Bank by 2.16% to Rs. 1,073.00, Wipro Ltd by 1.39% to Rs. 265.25, Sterlite Industries by 1.14% to Rs. 420.25, ONGC plunged 0.57% to Rs. 891.75, and NTPC by 0.44% to Rs. 191.40 among others.
The BSE Realty is higher by 99.08 points or 4.66% at 2,125.76. Stocks trading in green are Penland Ltd soared 9.22% to Rs. 34.35, Mahindra LifeScience 8.08% to Rs. 195.20, Orbitco by 6.85% to Rs. 79.55, Ansal Infra by 6.59% to Rs. 35.60 and Sobha Developers by 5.71% to Rs. 107.40 among others.
Infosys Technologies declined 4.56% to Rs. 1,344.80 on dismal forecast for FY10.
ICSA India Ltd zoomed 8.62% to Rs. 115.30 after the company revoked the entire pledged shares.
Tata Motors surged 12.13% to Rs. 282.80 on report that it repurchased and extinguished its US and Japan listed foreign currency convertible bonds. The buyback of FCCBs will help reduce liabilities
Larsen & Toubro Ltd gained 2.74% to Rs. 846.55 as signing a Memorandum of Understanding with a Russian firm for nuclear power reactors.
GHCL Ltd surged 4.29% to Rs. 36.50 on report that it had repurchased foreign currency convertible bonds worth $11 million at a discount and extinguished the same.
Pantaoon Retail India surged 2.60% to Rs. 189.50 after the board of directors approved raising funds through various routes and reorganizing the business.
United Spirits advanced 7.11% to Rs. 766.50 after its global sales rose 20% to over 90 million cases in FY09 over FY08.
CMC zoomed 39.90% to Rs. 528.95 on reporting robust growth figure for 4QFY09.
SKF India surged 14.29% to Rs. 190.00 after a block deal of 13 lakh shares was executed on BSE at Rs 170.25 per share.
On the sectoral front, traders on-loaded positions across the sectors except in IT and Teck stocks. Realty stocks advanced on hopes lower rates will spur housing demand as most of the deals are driven by finance. Telecom socks spurted on strong monthly subscriber addition figures. Banking stocks advanced on expectation of a further easing of the monetary policy by the regulatory body with headline inflation nearing to zero.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,539 stocks traded so far, 2,067 shares advanced while 418 shares declined. Nearly 54 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 155.71 points at 11,122.94 and NSE Nifty is up by 51.45 points at 3,434.05.
The BSE Mid Cap is trading higher by 147.11 points at 3,612.03 and Small cap is trading up by 202.78 points at 4,117.95.
Major gainers from the BSE Sensex pack are Tata Motors surged 12.13% to Rs. 282.80 along with Mahindra & Mahindra advanced 9.79% to Rs. 493.95, Hindalco Industries 6.05% to Rs. 63.15, Ranbaxy Labs by 5.00% to Rs. 197.50, BHEL by 4.90% to Rs. 1,600.00, Tata Steel advanced 4.68% to Rs. 296.15 and Jaiprakash Associates soared 4.51% to Rs. 122.90 among others.
Losers from the BSE Sensex Pack are Infosys Technologies declined 4.56% to Rs. 1,344.80 along with, TCS Ltd plunged 3.53% to Rs. 570.80, HBFC Bank by 2.16% to Rs. 1,073.00, Wipro Ltd by 1.39% to Rs. 265.25, Sterlite Industries by 1.14% to Rs. 420.25, ONGC plunged 0.57% to Rs. 891.75, and NTPC by 0.44% to Rs. 191.40 among others.
The BSE Realty is higher by 99.08 points or 4.66% at 2,125.76. Stocks trading in green are Penland Ltd soared 9.22% to Rs. 34.35, Mahindra LifeScience 8.08% to Rs. 195.20, Orbitco by 6.85% to Rs. 79.55, Ansal Infra by 6.59% to Rs. 35.60 and Sobha Developers by 5.71% to Rs. 107.40 among others.
Infosys Technologies declined 4.56% to Rs. 1,344.80 on dismal forecast for FY10.
ICSA India Ltd zoomed 8.62% to Rs. 115.30 after the company revoked the entire pledged shares.
Tata Motors surged 12.13% to Rs. 282.80 on report that it repurchased and extinguished its US and Japan listed foreign currency convertible bonds. The buyback of FCCBs will help reduce liabilities
Larsen & Toubro Ltd gained 2.74% to Rs. 846.55 as signing a Memorandum of Understanding with a Russian firm for nuclear power reactors.
GHCL Ltd surged 4.29% to Rs. 36.50 on report that it had repurchased foreign currency convertible bonds worth $11 million at a discount and extinguished the same.
Pantaoon Retail India surged 2.60% to Rs. 189.50 after the board of directors approved raising funds through various routes and reorganizing the business.
United Spirits advanced 7.11% to Rs. 766.50 after its global sales rose 20% to over 90 million cases in FY09 over FY08.
CMC zoomed 39.90% to Rs. 528.95 on reporting robust growth figure for 4QFY09.
SKF India surged 14.29% to Rs. 190.00 after a block deal of 13 lakh shares was executed on BSE at Rs 170.25 per share.
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