Monday, May 4, 2009

Market On Tough Optimistic Sentiments: Follows Worldwide Cues - May 04, 2009

After a smart opening, the major Indian bourses are continuously hunting for a new high mainly due to positive sentiments across the globe after an indication that consumer confidence has improved to its best level since September in US. Shares across the Asia-Pacific region were also on the rise following China''s encouraging manufacturing data which expanded for the first time in nine months.

On a stock specific news, Tata steel surged by nearly 8% after a news that it may accept an invitation from the Liberian government to rebid for a $1.6-billion iron ore mine, from which was initially barred.

During the last hour, all the indices are trading in green territory. Among the sectoral indices, the BSE Metal, Bankex and IT index are up by 6.64%, 5.71% and 5.44% respectively.

Overall the market breadth is positive as 1444 stocks are trading in green while 468 stocks are in red.

The BSE Sensex up by 506.54 points at 11,909.79 and NSE Nifty inclined by 130.54 points at 3,604.5. The BSE Mid Cap and Small Cap are trading higher by 102.91 points and 101.26 points at 3,616.78 and 4,042.17 respectively.

Gainers from the BSE Sensex Pack are Sterlite Industries up by (10.13%) to Rs. 450.5, along with HDFC Ltd by (8.82%) to Rs. 1884.15, TCS Ltd by (7.91%) at Rs. 672.5, Hindalco Industries by (7.71%) at Rs. 58, Tata Steel by (7.50%) at Rs. 255.9 and Wipro Ltd by (7.41%) at Rs.355.

Gainers from the NSE Nifty Pack are Sterlite Industries by (10.28%) at Rs. 452.2 along with HDFC by (9.45%) at Rs. 1890.2, TCS Ltd by (8.15%) at Rs. 674.4, Hindalco industries by (7.91%) at Rs. 58 and Tata Steel by (7.45%) at Rs. 255.85.

BSE Metal is trading higher by (6.64%) or 457.48 points at 7,343.29. The major gainers are Sterlite Industries trading up by (10.13%) to Rs. 450.5, along with Hindalco Industries by (7.71%) at Rs. 58, Tata Steel by (7.50%) at Rs. 255.9, Sesa Goa by (6.26%) at Rs. 118.90 Followed by National Aluminium by (5.72%) at Rs. 223.70.

BSE IT is trading higher by (5.71%) or 151.95 points at 2,815.30. The top gainers in the index are TCS Ltd surged by (7.91%) at Rs. 672.5 along with Wipro Ltd by (7.41%) at Rs.355, Mphasis Ltd by (6.75%) to Rs. 239.50, Infosys Technologies by (4.76%) at Rs. 1579 followed by Aptech Ltd by (4.44%) at Rs. 96.40.

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