The key benchmark index reversed early gains due to profit booking pressures as markets appear overbought in yesterday''s trade. This rally bought cheer for many but a sense of nervousness still persists in the market as the market witnessed spectacular rise in the past few days.
However, the rally was also a part of a sharp surge in global equities triggered by hopes that the worst of the global economic recession might have been left behind.
On the sectoral front, traders on-loaded positions across the sectors except IT, Teck and FMCG indices. Realty stocks advanced on hopes lower rates will spur demand. Cement stocks rose on the back of robust dispatch in April 2009.
Metal stocks rose on rise in metal prices on the London Metal Exchange. Auto stocks grew on hopes lower interest rates will boost demand which is mainly driven by finance.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,484 stocks traded so far, 1,348 shares advanced while 1,029 shares declined. Nearly 107 shares are unchanged.
The BSE Sensex is trading lower by 29.95 points at 12,104.80 and NSE Nifty is down by 0.9 points at 3,653.1.
The BSE Mid Cap is trading higher by 33.92 points at 3,685.21 and Small cap is trading up by 43.76 points at 4,125.47.
Major gainers from the BSE Sensex pack are Tata Steel spurted 5.89% to Rs. 278.50 along with DLF Ltd by 5.39% to Rs. 246.35, ICICI Bank by 4.15% to Rs. 551.00, Ranbaxy Labs by 3.72% to Rs. 177.00, Tata Motors by 2.97% to Rs. 264.85, Reliance Infra by 2.94% to Rs. 771.10, Reliance Communication by 2.77% to Rs. 235.50, BHEL by 2.69% to Rs. 1,752.80, Jaiprakas Associates by 2.31% to Rs. 150.65, Larsen & Toubro by 1.99% to Rs. 971.35 and Tata Power by 1.33% to Rs. 916.50 among others.
Losers from the BSE Sensex Pack are Infosys Tech by 4.62% to Rs. 1554.00 along with, Housing Development Finance Corporation plunged 4.37% to Rs. 1872.00, TCS Ltd by 4.09% to Rs. 639.90 and Mahindra & Mahindra by 3.26% to Rs. 531.90 among others.
The BSE Realty is higher by 106.26 points or 4.75% at 2,236.09. Stocks trading in green are Unitech Ltd by 7.92% to Rs. 53.15, Penland Ltd by 5.69% to Rs. 38.05, Sobha Developers by 5.43% to Rs. 108.65, DLF Ltd by 4.81% to Rs. 245.00, Housing Development Infrastructure by 3.97% to Rs. 163.80, Omaxe Ltd by 3.21% to Rs. 57.80 and Indiabulls Realty by 2.60% to Rs. 136.30 among others.
Everest Industries surged 13.42% to Rs. 77.75 after net profit soared 3541.18% to Rs 12.38 crore in Q4 March 2009 over Q4 March 2008.
ECE Industries advanced 5.02% to Rs. 137.00 after a block deal of 5.39 lakh shares was executed on BSE at Rs. 133 per share.
Suzlon Energy zoomed 7.81% to Rs. 71.10 extending gains for the third session after the firm raised its stake in Germany''s REpower Systems to 76%, after paying Martifer 30 million euros last week.
Tata Steel grew 5.48% to Rs. 277.40 on reports the company has raised prices of long steel products used in the construction industry.
Jubilant Organosys surged 9.72% to Rs. 128.70 after the company said its unit has singed a pact with AstraZeneca for research collaboration.
Allahabad Bank rose 2.55% to Rs. 58.40 extending gains for the third session after the bank''s net profit surged 55.70% to Rs 264.09 crore in Q4 March 2009 over Q4 March 2008.
Tata Motors surged 2.84% to Rs. 264.50 after the company received 2.03 lakh bookings for its mini-car Nano, the world''s cheapest car, more than double from the initial sales plan of the company.
Anu''s Laboratories advanced 9.18% to Rs. 416.40 on setting record date for a 10-for-1 stock split.
ACC advanced 0.24% to Rs. 657.00 after cement dispatches rose 4.05% to 1.8 million tons in April 2009 over April 2008.
However, the rally was also a part of a sharp surge in global equities triggered by hopes that the worst of the global economic recession might have been left behind.
On the sectoral front, traders on-loaded positions across the sectors except IT, Teck and FMCG indices. Realty stocks advanced on hopes lower rates will spur demand. Cement stocks rose on the back of robust dispatch in April 2009.
Metal stocks rose on rise in metal prices on the London Metal Exchange. Auto stocks grew on hopes lower interest rates will boost demand which is mainly driven by finance.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,484 stocks traded so far, 1,348 shares advanced while 1,029 shares declined. Nearly 107 shares are unchanged.
The BSE Sensex is trading lower by 29.95 points at 12,104.80 and NSE Nifty is down by 0.9 points at 3,653.1.
The BSE Mid Cap is trading higher by 33.92 points at 3,685.21 and Small cap is trading up by 43.76 points at 4,125.47.
Major gainers from the BSE Sensex pack are Tata Steel spurted 5.89% to Rs. 278.50 along with DLF Ltd by 5.39% to Rs. 246.35, ICICI Bank by 4.15% to Rs. 551.00, Ranbaxy Labs by 3.72% to Rs. 177.00, Tata Motors by 2.97% to Rs. 264.85, Reliance Infra by 2.94% to Rs. 771.10, Reliance Communication by 2.77% to Rs. 235.50, BHEL by 2.69% to Rs. 1,752.80, Jaiprakas Associates by 2.31% to Rs. 150.65, Larsen & Toubro by 1.99% to Rs. 971.35 and Tata Power by 1.33% to Rs. 916.50 among others.
Losers from the BSE Sensex Pack are Infosys Tech by 4.62% to Rs. 1554.00 along with, Housing Development Finance Corporation plunged 4.37% to Rs. 1872.00, TCS Ltd by 4.09% to Rs. 639.90 and Mahindra & Mahindra by 3.26% to Rs. 531.90 among others.
The BSE Realty is higher by 106.26 points or 4.75% at 2,236.09. Stocks trading in green are Unitech Ltd by 7.92% to Rs. 53.15, Penland Ltd by 5.69% to Rs. 38.05, Sobha Developers by 5.43% to Rs. 108.65, DLF Ltd by 4.81% to Rs. 245.00, Housing Development Infrastructure by 3.97% to Rs. 163.80, Omaxe Ltd by 3.21% to Rs. 57.80 and Indiabulls Realty by 2.60% to Rs. 136.30 among others.
Everest Industries surged 13.42% to Rs. 77.75 after net profit soared 3541.18% to Rs 12.38 crore in Q4 March 2009 over Q4 March 2008.
ECE Industries advanced 5.02% to Rs. 137.00 after a block deal of 5.39 lakh shares was executed on BSE at Rs. 133 per share.
Suzlon Energy zoomed 7.81% to Rs. 71.10 extending gains for the third session after the firm raised its stake in Germany''s REpower Systems to 76%, after paying Martifer 30 million euros last week.
Tata Steel grew 5.48% to Rs. 277.40 on reports the company has raised prices of long steel products used in the construction industry.
Jubilant Organosys surged 9.72% to Rs. 128.70 after the company said its unit has singed a pact with AstraZeneca for research collaboration.
Allahabad Bank rose 2.55% to Rs. 58.40 extending gains for the third session after the bank''s net profit surged 55.70% to Rs 264.09 crore in Q4 March 2009 over Q4 March 2008.
Tata Motors surged 2.84% to Rs. 264.50 after the company received 2.03 lakh bookings for its mini-car Nano, the world''s cheapest car, more than double from the initial sales plan of the company.
Anu''s Laboratories advanced 9.18% to Rs. 416.40 on setting record date for a 10-for-1 stock split.
ACC advanced 0.24% to Rs. 657.00 after cement dispatches rose 4.05% to 1.8 million tons in April 2009 over April 2008.
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