Thursday, May 28, 2009

Bulls Lay The Blame On Once More Sensex Gains 1 Per Cent - May 28, 2009

Extending yesterday’s rally, the key benchmark indices are trading firm on the back of hefty buying by funds and retail investors with the hope of an acceleration in economic reforms by the new Congress-led UPA government. This rally is further supported by covering-up of short positions by speculators as today is the last session of current month''s expiry in the derivatives segment.

On a stock specific news, Infosys Technologies is trading higher by over 1% on account of a news that company is chasing new contracts worth USD100-250 mn from its existing customer, British Petroleum.

During the last hours'' trading session, buying interest has emerged across Realty, Consumer Goods (CG) and Oil & Gas, whereas some profit booking seen across Banking counter.

Among the BSE sectoral indices, Realty, Consumer Goods (CG) and Oil & Gas stocks gained by 2.01%, 1.56% and 1.54% respectively, while BSE Bankex index is down by 0.40%.

Overall the market breadth is positive as 1625 stocks are trading in green while 766 stocks are in red.

The BSE Sensex is up by 137.48 points at 14,247.13 while NSE Nifty surged by 36.89 points at 4,312.95. Besides, the BSE Mid Cap and Small Cap are trading higher by 17.19 points and 17.28 points at 4,914.57 and 5,815.02 respectively.

Gainers from the BSE Sensex Pack are Bharti Airtel surged by (2.87%) to Rs. 791, along with Mahindra & Mahindra Limited by (2.85%) to Rs. 643.15, ACC Limited by (2.39%) at Rs. 726, L&T Limited by (2.31%) at Rs. 1,341.7, Ranbaxy Lab by (2.16%) at Rs. 267.5 and Sun Pharmaceutical by (1.99%) at Rs. 1,344.85.

Gainers from the NSE Nifty Pack are Siemens Limited up by (3.85%) at Rs. 481.5 along with Bharti Airtel by (2.82%) at Rs. 790.5, Mahindra & Mahindra by (2.82%) at Rs. 643.75, ABB Limited by (2.82%) at Rs. 625, Reliance Capital by (2.66%) at Rs. 944.5 and L&T Limited by (2.27%) at Rs. 1342.

BSE Realty is trading higher by (2.01%) or 70.68 points at 3,587.45. The major gainers are Anant Raj up by (4.97%) at Rs. 121.40 along with Indiabul Real by (3.90%) at Rs. 211.95, DLF Limited by (2.34%) at Rs. 374.05 followed by Mahindra Life by (1.42%) at Rs. 275.80.

BSE CG is trading higher by (1.56%) or 175.73 points at 11,428.19. The top gainers in the index are Jyoti Struct surged by (6.30%) to Rs. 135 along with Elecon Eng by (4.86%) to Rs. 86.30, Siemens Limited by (3.56%) to Rs. 480 followed by SKF India by (3.23%) at Rs. 225.

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