Friday, May 15, 2009

Market Follows Global Cues: Eyes On Poll Results - May 15, 2009

After a smart start, the benchmark indices moved up and regained the 12k level on fresh buying by funds backed by strong cues from the global markets. However, the trading is expected to be choppy as political risk from general election results on Saturday weighs on sentiment.

On a stock specific news, Eveready Industries India Ltd is trading up by 5.5% after an announcement of acquisition of France’s rechargeable battery maker Uniross from CG Holding for consideration of approximately Rs 60 crore.

During the last hours'' trading session, almost all the indices were trading in green with heavy buying interest across Banking and Realty counters. Among the BSE sectoral indices, Bankex, Realty and Capital Goods stocks surged by 2.50%, 2.44% and 2.36% respectively.

Overall the market breadth is positive as 1410 stocks are trading in green while 422 stocks are in green.

The BSE Sensex surged by 167.43 points at 12,040.35 while NSE Nifty up by 40.09 points at 3,633.55. Besides, the BSE Mid Cap and Small Cap are trading higher by 65.44 points and 73.39 points at 3,822.38 and 4,317.55 respectively.

Gainers from the BSE Sensex Pack are TCS up by (5.03%) to Rs. 651.4, along with Jai Prakash Associate by (3.37%) to Rs. 141.1, ICICI Bank Ltd by (3.34%) at Rs. 554.65, Tata Motors by (3.08%) at Rs. 268.15, HDFC by (3.06%) at Rs. 1923 and Sterlite Industries by (2.81%) at Rs. 461.6.

Gainers from the NSE Nifty Pack are TCS surged by (4.55%) at Rs. 648 along with Idea Cellular by (4.14%) at Rs. 62.85, Suzlon Energy by (3.84%) at Rs. 78.5, ICICI Bank by (3.66%) at Rs. 555.9, Sterlite Industries Ltd by (3.32%) at Rs. 462.7 and Tata Motors by (3.23%) at Rs.268.25.

BSE Bankex is trading higher by (2.50%) or 153.45 points at 6,292.07. The major gainers are Bank of India inclined by (6.41%) at Rs. 250 along with Canara Bank by (3.67%) at Rs. 230.5, IndusInd bank by (3.64%) at Rs. 44.10, Axis Bank by (3.12%) at Rs. 657.30 followed by Oriental Bank by (2.89%) at Rs. 137.

BSE Realty is trading up by (2.44%) or 57.44 points at 2,412. The top gainers in the index are Indiabul Real surged by (3.23%) to Rs.153.50 along with Unitech Ltd by (2.94%) to Rs.50.75, Ansal Infras by (2.80%) to Rs. 34.90, followed by Anant Raj by (2.79%) to Rs. 81.10.

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