The domestic market tumbles as the investors books profit. The investors are also keeping a close eye on the portfolio allocation in the new government, which is to be watched, who gets what portfolio. Also the rising of inflation to 0.61% this week as against 0.48% last week put some pressures. After a cautious start tracking the weakness in the global markets, the domestic market recovers from the fall as the investors shows some buying strength.
The victory of the Congress led UPA government in the recent elections raised the hopes of new policy reforms to give a boost to the economy, led the investors to book further positions.
India''s inflation hovers near the three decade low as its wholesale price index shot up 0.61 percent in the 12 months to May 9, 2009 as against previous week''s annual rise of 0.48 percent, government data showed on Thursday.
The annual inflation rate was 8.57 percent during the corresponding week of the previous year. According to data released by the commerce and industry ministry showed that the index for primary articles rose 0.5 per cent during the week and that for manufactured products was up 0.1 per cent, while the index for fuels remained unchanged at 323.7.
Meanwhile, the inflation figure for week-ended March 14 has been revised to 0.71 per cent as against 0.27 per cent (provisional).
On the sectoral front, heavy buying is seen from the PSU as well as Realty and Consumer Durables index, which are trading with handsome gains of more than 4%, 2% and 1% respectively. While the Auto, FMCG and Capital Goods index are trading with losses of more than 1%, 1% and 2% respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,662 stocks traded so far, 2,289 shares advanced while 325 shares declined. Nearly 48 shares are unchanged.
The BSE Sensex is trading lower by 120.93 points at 13,939.73 and NSE Nifty is trading flat at 4,278.
The BSE Mid Cap is trading up by 108.20 points at 4,781.97 and Small cap is trading higher by 286.41 points at 5,494.59.
Gainers from the BSE Sensex Pack are ONGC trading up by 8.44% to Rs. 1075 along with Ranbaxy Labs by 6.52% to Rs. 232.05, Reliance Communication by 5.40% to Rs. 325, NTPC by 4.56% at Rs217.85, JP Associate by 3.58% at Rs179.50 and Tata Steel by 2.59% at Rs380.90.
The BSE PSU index is trading with gains of 363.50 points or 4.89% at 7,790.70. Leading the rally from the gainers pack are MMTC trading higher by 20% at Rs. 28,352.75 along with HPCL by 15.19% at Rs. 325, Bank of Maha by 12.57% at Rs. 37.60, Dena Bank by 10.74% at Rs. 53.10 and Chennai Petro by 10.84% at Rs. 168.20.
The BSE Realty index is trading up by 66.44 points or 1.98% at 3,427.87. Stocks trading in green are Orbitco trading up by 9.99% at Rs156.90 followed by Sobha Dev by 9.98% to Rs. 186.85, Parsvnath by 9.98% at Rs82.65, Omaxe by 9.97% to Rs. 93.20, Mahindralife by 8.65% at Rs298.45, Ansal Infra by 5.26% at Rs56, Anant Raj Inds by 4.95% at Rs98.60 and HDIL by 2.40% at Rs304.50.
AREVA T&D India is trading up by 0.15% at Rs330.30. The company has received a prestigious order for 400 kV Substation at Kharagpur (Wast Bengal), from West Bengal State Electricity Transmission Company (WBSETCL).
The order is on a turnkey basis and includes major T&D equipments such as Large Power Transformers, 400/220/132 kV Breakers, Automation System with Control & Relay Panels and Instrument Transformers (CT/CVT/Wave Traps), AREVA T&D shall undertake Design & Engineering, Supply, Erection and Commissioning, including Civil Works for this order.
Aurobindo Pharma is trading higher by 4.89% at Rs342.25. The company announced that it has further expanded its partnership with Pfizer Inc., a global leader in Pharmaceuticals by executing licensing and supply agreements for several Solid Dosage and Sterile products for a number of emerging market countries.
Under the terms of the agreement, Pfizer has acquired rights to 55 solid oral dose products and 5 sterile injectable products for several countries throughout Asia, Latin America, Africa and the Middle East. These products fall under a broad range of some important therapeutic segments such as antiinfectives, cardiovascular (CVS) and central nervous system disorders (CNS).
The victory of the Congress led UPA government in the recent elections raised the hopes of new policy reforms to give a boost to the economy, led the investors to book further positions.
India''s inflation hovers near the three decade low as its wholesale price index shot up 0.61 percent in the 12 months to May 9, 2009 as against previous week''s annual rise of 0.48 percent, government data showed on Thursday.
The annual inflation rate was 8.57 percent during the corresponding week of the previous year. According to data released by the commerce and industry ministry showed that the index for primary articles rose 0.5 per cent during the week and that for manufactured products was up 0.1 per cent, while the index for fuels remained unchanged at 323.7.
Meanwhile, the inflation figure for week-ended March 14 has been revised to 0.71 per cent as against 0.27 per cent (provisional).
On the sectoral front, heavy buying is seen from the PSU as well as Realty and Consumer Durables index, which are trading with handsome gains of more than 4%, 2% and 1% respectively. While the Auto, FMCG and Capital Goods index are trading with losses of more than 1%, 1% and 2% respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,662 stocks traded so far, 2,289 shares advanced while 325 shares declined. Nearly 48 shares are unchanged.
The BSE Sensex is trading lower by 120.93 points at 13,939.73 and NSE Nifty is trading flat at 4,278.
The BSE Mid Cap is trading up by 108.20 points at 4,781.97 and Small cap is trading higher by 286.41 points at 5,494.59.
Gainers from the BSE Sensex Pack are ONGC trading up by 8.44% to Rs. 1075 along with Ranbaxy Labs by 6.52% to Rs. 232.05, Reliance Communication by 5.40% to Rs. 325, NTPC by 4.56% at Rs217.85, JP Associate by 3.58% at Rs179.50 and Tata Steel by 2.59% at Rs380.90.
The BSE PSU index is trading with gains of 363.50 points or 4.89% at 7,790.70. Leading the rally from the gainers pack are MMTC trading higher by 20% at Rs. 28,352.75 along with HPCL by 15.19% at Rs. 325, Bank of Maha by 12.57% at Rs. 37.60, Dena Bank by 10.74% at Rs. 53.10 and Chennai Petro by 10.84% at Rs. 168.20.
The BSE Realty index is trading up by 66.44 points or 1.98% at 3,427.87. Stocks trading in green are Orbitco trading up by 9.99% at Rs156.90 followed by Sobha Dev by 9.98% to Rs. 186.85, Parsvnath by 9.98% at Rs82.65, Omaxe by 9.97% to Rs. 93.20, Mahindralife by 8.65% at Rs298.45, Ansal Infra by 5.26% at Rs56, Anant Raj Inds by 4.95% at Rs98.60 and HDIL by 2.40% at Rs304.50.
AREVA T&D India is trading up by 0.15% at Rs330.30. The company has received a prestigious order for 400 kV Substation at Kharagpur (Wast Bengal), from West Bengal State Electricity Transmission Company (WBSETCL).
The order is on a turnkey basis and includes major T&D equipments such as Large Power Transformers, 400/220/132 kV Breakers, Automation System with Control & Relay Panels and Instrument Transformers (CT/CVT/Wave Traps), AREVA T&D shall undertake Design & Engineering, Supply, Erection and Commissioning, including Civil Works for this order.
Aurobindo Pharma is trading higher by 4.89% at Rs342.25. The company announced that it has further expanded its partnership with Pfizer Inc., a global leader in Pharmaceuticals by executing licensing and supply agreements for several Solid Dosage and Sterile products for a number of emerging market countries.
Under the terms of the agreement, Pfizer has acquired rights to 55 solid oral dose products and 5 sterile injectable products for several countries throughout Asia, Latin America, Africa and the Middle East. These products fall under a broad range of some important therapeutic segments such as antiinfectives, cardiovascular (CVS) and central nervous system disorders (CNS).
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