The domestic market is trading on the backfoot as the investors are taking calculated steps to book further positions. Soon after the weak opening, the benchmark indices make a smart turn around on the back of reports that the government departments has sketch out a some proposals populate an ambitious reform agenda for the first 100 days of the government.
This led to the selective buying across the sectoral indices but did not able to sustain at that level and tumbles as the volatility grips the market. The clear mandate for the Congress-led United Progressive Alliance (UPA) has boosted the sentiments of the investors for the past few sessions on the back of expectation that a strong coalition, would be able to push through economic reforms, which ultimately would boost foreign investment across various sectors.
On the sectoral front, heavy buying is witnessed from the Consumer Durables as well as Metal and Auto index, which are trading with handsome gains of more than 6%, 4% and 4% respectively. While the banking and Oil & Gas index is trading with decent losses of more than 2% and 1% respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,610 stocks traded so far, 2,187 shares advanced while 367 shares declined. Nearly 56 shares are unchanged.
The BSE Sensex is trading lower by 212.86 points at 14,089.17 and NSE Nifty is down by 36.90 points at 4,281.55.
The BSE Mid Cap is trading up by 211.36 points at 4,619.18 and Small cap is trading higher by 343.20 points at 5,127.34.
Losers from the BSE Sensex Pack are BHEL slipped 6.85% to Rs. 2016.50 along with DLF fell 6.52% to Rs. 359.60, ICICI Bank by 6.46% to Rs. 709.60 and Bharti Airtel by 6.40% to Rs. 856.10.
The BSE Consumer Durables index is trading with gains of 180.20 points or 7.86% at 2,474.13. Leading the rally from the gainers pack are Videocon Inds trading higher by 13.23% at Rs. 145.95 along with Rajesh Exports by 7.79% at Rs. 33.90, Titan Inds by 6.16% at Rs. 1056.10, Blue Star by 6.10% at Rs. 265.10 and Gitanjali GE by 5.97% at Rs. 86.05.
The BSE Metal index is up by 491.35 points or 5.22% at 9,907.27. Stocks trading in green are Tata Steel trading up by 10.21% at Rs362.75 followed by Ispat Inds by 8.86% to Rs. 18.18, NMDC by 5.61% to Rs. 274.95, Jindal Saw by 5.56% to Rs370, Hindalco Inds by 5.54% to Rs. 81.85, Welspun Guj Stalh by 5.01% to Rs. 142.40.
Piramal Life Sciences Ltd is trading up by 4.96% at Rs60.35. The company has commenced Phase I trial of a new experimental drug molecule P2202 for diabetes-metabolic syndrome in Canada, P2202 is the second compound from Eli Lilly & Co. (USA) and is part of the collaborative agreement between the two companies and is being developed for diabetes-metabolic syndrome.
Four Soft Ltd is trading higher by 3.17% at Rs20.20. The company has announced that Companys web based software solution 4S eCustoms SAGITTA has been certified by the Netherlands Customs Authorities for Sagitta Import and Export compliance. Sagitta is an automated declaration platform for handling custom affairs for Import and Export shipments in the Netherlands.
All the modules of 4S eCustoms SAGITTA are designed to meet the national and local proactive regulatory customs filing, compliance and documentation requirements of freight forwarders, logistics providers, and customs brokerage companies.
Larsen & Toubro (L&T) is trading up by 1.90% at Rs 1371.80. L&T and US-based GE Hitachi Nuclear Energy (GEH) signed a Memorandum of Understanding for co-operation on BWR and ABWR nuclear power plants.
L&T has been playing a leading role in equipment manufacture, construction and project management for Pressurized Heavy Water Reactors in India's domestic program. This MoU with GEH is a major step forward for L&T in the manufacture and construction of Advanced Boiling Water Reactor (ABWR) components & systems.
L&T and GEH hope to utilize indigenous capabilities for the complete construction of nuclear power plants including supply of reactor equipment and systems, valves, electrical & instrumentation products for ABWR plants to be set up in India.
This led to the selective buying across the sectoral indices but did not able to sustain at that level and tumbles as the volatility grips the market. The clear mandate for the Congress-led United Progressive Alliance (UPA) has boosted the sentiments of the investors for the past few sessions on the back of expectation that a strong coalition, would be able to push through economic reforms, which ultimately would boost foreign investment across various sectors.
On the sectoral front, heavy buying is witnessed from the Consumer Durables as well as Metal and Auto index, which are trading with handsome gains of more than 6%, 4% and 4% respectively. While the banking and Oil & Gas index is trading with decent losses of more than 2% and 1% respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,610 stocks traded so far, 2,187 shares advanced while 367 shares declined. Nearly 56 shares are unchanged.
The BSE Sensex is trading lower by 212.86 points at 14,089.17 and NSE Nifty is down by 36.90 points at 4,281.55.
The BSE Mid Cap is trading up by 211.36 points at 4,619.18 and Small cap is trading higher by 343.20 points at 5,127.34.
Losers from the BSE Sensex Pack are BHEL slipped 6.85% to Rs. 2016.50 along with DLF fell 6.52% to Rs. 359.60, ICICI Bank by 6.46% to Rs. 709.60 and Bharti Airtel by 6.40% to Rs. 856.10.
The BSE Consumer Durables index is trading with gains of 180.20 points or 7.86% at 2,474.13. Leading the rally from the gainers pack are Videocon Inds trading higher by 13.23% at Rs. 145.95 along with Rajesh Exports by 7.79% at Rs. 33.90, Titan Inds by 6.16% at Rs. 1056.10, Blue Star by 6.10% at Rs. 265.10 and Gitanjali GE by 5.97% at Rs. 86.05.
The BSE Metal index is up by 491.35 points or 5.22% at 9,907.27. Stocks trading in green are Tata Steel trading up by 10.21% at Rs362.75 followed by Ispat Inds by 8.86% to Rs. 18.18, NMDC by 5.61% to Rs. 274.95, Jindal Saw by 5.56% to Rs370, Hindalco Inds by 5.54% to Rs. 81.85, Welspun Guj Stalh by 5.01% to Rs. 142.40.
Piramal Life Sciences Ltd is trading up by 4.96% at Rs60.35. The company has commenced Phase I trial of a new experimental drug molecule P2202 for diabetes-metabolic syndrome in Canada, P2202 is the second compound from Eli Lilly & Co. (USA) and is part of the collaborative agreement between the two companies and is being developed for diabetes-metabolic syndrome.
Four Soft Ltd is trading higher by 3.17% at Rs20.20. The company has announced that Companys web based software solution 4S eCustoms SAGITTA has been certified by the Netherlands Customs Authorities for Sagitta Import and Export compliance. Sagitta is an automated declaration platform for handling custom affairs for Import and Export shipments in the Netherlands.
All the modules of 4S eCustoms SAGITTA are designed to meet the national and local proactive regulatory customs filing, compliance and documentation requirements of freight forwarders, logistics providers, and customs brokerage companies.
Larsen & Toubro (L&T) is trading up by 1.90% at Rs 1371.80. L&T and US-based GE Hitachi Nuclear Energy (GEH) signed a Memorandum of Understanding for co-operation on BWR and ABWR nuclear power plants.
L&T has been playing a leading role in equipment manufacture, construction and project management for Pressurized Heavy Water Reactors in India's domestic program. This MoU with GEH is a major step forward for L&T in the manufacture and construction of Advanced Boiling Water Reactor (ABWR) components & systems.
L&T and GEH hope to utilize indigenous capabilities for the complete construction of nuclear power plants including supply of reactor equipment and systems, valves, electrical & instrumentation products for ABWR plants to be set up in India.
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