Thursday, April 23, 2009

Markets Gained Momentum And Are Trading At Day’s High - April 23, 2009

The benchmark indices gained further grounds and are now trading at day high as buying continued among the Metal, IT, Auto, Realty and Banking stocks. The significant buying witnessed among the frontline indices today. The BSE Sensex has crossed the 11,000 mark and the NSE Nifty is inching towards the 3,400 mark. The broader indices also gather some momentum and are trading higher.

The overall market breadth is positive as 1,228 stocks are advancing while 1,156 stocks are declining in BSE.

Wipro reported the top gainer from the BSE Sensex pack, as it is trading up by (7.58%) at Rs. 303 while Sun Pharmaceutical reported the top loser down by (1.84%) at Rs. 1,158.50.

BSE Sensex is at 11,046.90 up by 229.36 points and Nifty is at 3,394.05 up by 63.75 points.

The BSE Mid Cap is higher by 29.66 points at 3,512.44 and the BSE Small Cap increased by 25.12 points to 3,987.80.

The Metal index is trading with handsome gains of 276.17 points or 4.10% at 7,012.05. Leading the rally are JSW Steel trading up by 7.09% at Rs336 along with Tata Steel by 6.47% at Rs256.75, Sterlite Inds by 4.58% at Rs384.55, SAIL by 4.23% at Rs112.10, Jindal Steel by 3.74% at Rs1556, Hindalco Inds by 3.39% at Rs56.40, Sesa Goa by 3.38% at Rs119.15, Hind Zinc by 3.02% at Rs500, Jindal Saw by 2.09% at Rs214.50.

The IT index is trading up by 96.38 points or 3.98% at 2,519.71. Gainers from this pack are Wipro trading higher by 8.29% at Rs305 in line with Tech Mahindra by 7.88% at Rs330.45, Oracel Fin by 4.82% at Rs900, Infosys by 4.64% at Rs1443.40, NIIT Ltd by 4.28% at Rs26.80, TCS by 3.20% at Rs560.30, Mphasis by 2.58% at Rs226.85 and Finance Tech by 1.11% at Rs663.

The most active shares on NSE are Unitech trading at Rs.45.80 with a total traded quantity of 59480612 shares followed by Suzlon Energy trading at Rs.62.30 with a total traded quantity of 36758519 shares.

Reliance Petroleum Ltd is trading up by 2.72% at Rs109.60. The company has announced the following Unaudited results for the quarter & year ended March 31, 2009. The Company has posted a net profit after tax of Rs 840 million for the quarter ended March 31, 2009. Total Income is Rs 37020 million for the quarter ended March 31, 2009.

The results for the Year ended March 31, 2009. The Company has posted a net profit after tax of Rs 840 million for the year ended March 31, 2009. Total Income is Rs 37020 million for the year ended March 31, 2009.

LIC Housing Finance is trading higher by 4.28% at Rs312.90. The Company has posted a net profit after tax of Rs 1575.580 million for the quarter ended March 31, 2009 as compared to Rs 1180.954 million for the quarter ended March 31, 2008. Total Income has increased from Rs 6296.774 million for the quarter ended March 31, 2008 to Rs 8060.820 million for the quarter ended March 31, 2009.

On yearly basis, the Company has posted a net profit after tax of Rs 5316.202 million for the year ended March 31, 2009 as compared to Rs 3871.872 million for the year ended March 31, 2008. Total Income has increased from Rs 21733.351 million for the year ended March 31, 2008 to Rs 29033.423 million for the year ended March 31, 2009.

On the global markets front, the European markets are trading lower as the FTSE 100 and the DAX index are trading down by (0.11%) and (0.56%).

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