After a spectacular opening the key bench market indices spurred on better than expected fourth quarter Gross Domestic Product (GDP) data which grew by 5.8% for Jan-Mar quarter as compared to 5.3%. The market anticipated GDP at 5%. Further, bounce back in global markets also supported the market momentum.
Meanwhile, Swiss Bank UBS AG''s lead India economic indicator was up for the fourth consecutive month in April 2009, indicating to a rebound in industrial activity by June 2009.
On the sectoral front, all 13 Indices were trading in green. Bank stocks rose on expectations that the UPA government will spur financial sector reforms.
Metal stocks spurted on strong domestic demand and on rise in US copper futures. Realty stocks advanced on expectations that stability at the Centre will attract FDI into the sector which in turn will boost growth.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,759 stocks traded so far, 2,216 shares advanced while 488 shares declined. Nearly 55 shares are unchanged.
The BSE Sensex is trading higher by 372.65 points at 14,668 and NSE Nifty is up by 126.64 points at 4,463.75.
The BSE Mid Cap is trading higher by 129.73 points at 5,265.30 and Small cap is trading up by 180.03 points at 5,991.73.
Major gainers from the BSE Sensex pack are Mahindra & Mahindra zoomed 8.14% to Rs. 690.00 along with ACC Limited advanced 7.01% to Rs. 771.80, ONGC Limited by 6.74% to Rs. 1,207.00, Jaiprakash Associates by 6.41% to Rs. 204.05, TCS Limited spurted 4.80% to Rs. 691.50, Larsen & Toubro Limited by 4.11% to Rs. 1,397.00, Tata Steel Limited by 3.77% to Rs. 398.05, Bharti Airtel Limited by 3.55% to Rs. 823.40 and DLF Limited spurted 3.31% to Rs. 384.30 among others.
Losers from the BSE Sensex Pack are Sun Pharmaceuticals Limited plunged 6.55% to Rs. 1,232.00 along with Grasim Industries Limited fell 0.33% to Rs. 2,177.00, and Tata Power Limited by 0.22% to Rs. 1,095.00.
The BSE Realty is higher by 144.51 points or 4.04% at 3,722.45. Stocks trading in green are Phoenix Mills Limited spurted 9.97% to Rs. 137.90, Ansal Infra Limited surged 8.36% to Rs. 66.75, Orbitco Limited by 5.63% to Rs. 165.20, Akruti City 5.00%% to Rs. 493.75 and Parsvnath by 4.99% to Rs. 96.80.
Aro Granite Industries Limited advanced 19.79% to Rs. 52.05, after the company said its board will meet on 8 June 2009 to consider buyback of equity shares.
Visa Steel Limited surged 3.66% to Rs. 29.75 on reports the firm expects to grow at 15-20% in the financial year-ending March 2010 and plans to raise Rs 2500 crore for expansion.
Bajaj Electricals Limited galloped 10% at Rs. 423.05, extending gains for the third consecutive day, after net profit surged 42.90% to Rs 47.47 crore in Q4 March 2009 over Q4 March 2008.
DLF Limited spurted 3.31% to Rs. 384.30 on reports promoters are planning to sell another 5.5% stake to raise Rs 1000-1500 crore.
Nagarjuna Construction Company Limited advanced 3.21% to Rs. 130.15, after consolidated net profit rose 8.28% to Rs 181.34 crore in the year ended March 2009 over the year ended March 2008.
Mahindra & Mahindra zoomed 8.14% to Rs. 690.00 extending recent gains after net profit jumped 89% to Rs 418.07 crore in Q4 March 2009 over Q4 March 2008.
Siemens Limited inclined 3.19% to Rs. 493.65 after the company said it will invest Rs 275 crore to triple the capacity of its steam turbine facility located at Vadodara in Gujarat.
Tata Motors Limited improved 1.83% to Rs. 338.75 after it launched a new range of premium trucks called on Thursday, 28 May 2009, which is expected to give its commercial vehicles business a much-needed push.
GMR Infrastructure Limited billed up 2.40% to Rs. 166.60, after the company won an order for a highway project in Andhra Pradesh through international bidding process.
Meanwhile, Swiss Bank UBS AG''s lead India economic indicator was up for the fourth consecutive month in April 2009, indicating to a rebound in industrial activity by June 2009.
On the sectoral front, all 13 Indices were trading in green. Bank stocks rose on expectations that the UPA government will spur financial sector reforms.
Metal stocks spurted on strong domestic demand and on rise in US copper futures. Realty stocks advanced on expectations that stability at the Centre will attract FDI into the sector which in turn will boost growth.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,759 stocks traded so far, 2,216 shares advanced while 488 shares declined. Nearly 55 shares are unchanged.
The BSE Sensex is trading higher by 372.65 points at 14,668 and NSE Nifty is up by 126.64 points at 4,463.75.
The BSE Mid Cap is trading higher by 129.73 points at 5,265.30 and Small cap is trading up by 180.03 points at 5,991.73.
Major gainers from the BSE Sensex pack are Mahindra & Mahindra zoomed 8.14% to Rs. 690.00 along with ACC Limited advanced 7.01% to Rs. 771.80, ONGC Limited by 6.74% to Rs. 1,207.00, Jaiprakash Associates by 6.41% to Rs. 204.05, TCS Limited spurted 4.80% to Rs. 691.50, Larsen & Toubro Limited by 4.11% to Rs. 1,397.00, Tata Steel Limited by 3.77% to Rs. 398.05, Bharti Airtel Limited by 3.55% to Rs. 823.40 and DLF Limited spurted 3.31% to Rs. 384.30 among others.
Losers from the BSE Sensex Pack are Sun Pharmaceuticals Limited plunged 6.55% to Rs. 1,232.00 along with Grasim Industries Limited fell 0.33% to Rs. 2,177.00, and Tata Power Limited by 0.22% to Rs. 1,095.00.
The BSE Realty is higher by 144.51 points or 4.04% at 3,722.45. Stocks trading in green are Phoenix Mills Limited spurted 9.97% to Rs. 137.90, Ansal Infra Limited surged 8.36% to Rs. 66.75, Orbitco Limited by 5.63% to Rs. 165.20, Akruti City 5.00%% to Rs. 493.75 and Parsvnath by 4.99% to Rs. 96.80.
Aro Granite Industries Limited advanced 19.79% to Rs. 52.05, after the company said its board will meet on 8 June 2009 to consider buyback of equity shares.
Visa Steel Limited surged 3.66% to Rs. 29.75 on reports the firm expects to grow at 15-20% in the financial year-ending March 2010 and plans to raise Rs 2500 crore for expansion.
Bajaj Electricals Limited galloped 10% at Rs. 423.05, extending gains for the third consecutive day, after net profit surged 42.90% to Rs 47.47 crore in Q4 March 2009 over Q4 March 2008.
DLF Limited spurted 3.31% to Rs. 384.30 on reports promoters are planning to sell another 5.5% stake to raise Rs 1000-1500 crore.
Nagarjuna Construction Company Limited advanced 3.21% to Rs. 130.15, after consolidated net profit rose 8.28% to Rs 181.34 crore in the year ended March 2009 over the year ended March 2008.
Mahindra & Mahindra zoomed 8.14% to Rs. 690.00 extending recent gains after net profit jumped 89% to Rs 418.07 crore in Q4 March 2009 over Q4 March 2008.
Siemens Limited inclined 3.19% to Rs. 493.65 after the company said it will invest Rs 275 crore to triple the capacity of its steam turbine facility located at Vadodara in Gujarat.
Tata Motors Limited improved 1.83% to Rs. 338.75 after it launched a new range of premium trucks called on Thursday, 28 May 2009, which is expected to give its commercial vehicles business a much-needed push.
GMR Infrastructure Limited billed up 2.40% to Rs. 166.60, after the company won an order for a highway project in Andhra Pradesh through international bidding process.
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