Friday, May 15, 2009

Markets Are Still Trading Higher - May 15, 2009

The markets are still trading higher at the day’s high. The Asian markets also ended with significant gains and the European markets are trading mixed. The buying interest continues among the Banking, Capital Goods, Realty, IT and Metal stocks.

The broader market indices also gained further momentum and are trading higher. The BSE Sensex is now trading near the 12,200 mark and the NSE Nifty above the 3,670 mark.

The overall market breadth is positive as 1643 stocks are advancing while 803 stocks are declining in BSE.

ICICI Bank reported the top gainer from the BSE Sensex pack, as it is trading up by (6.63%) at Rs. 572.30 while ONGC reported the top loser trading down by (2.48%) at Rs. 811.20.

BSE Sensex is at 12,172.44 up by 299.53 points and Nifty is at 3,674.10 up by 80.65 points.

The BSE Mid Cap is higher by 70.90 points at 3,827.83 and the BSE Small Cap increased by 65.68 points to 4,309.83.

The Bankex index is trading with gains of 238.51 points or 3.89% at 6,377.13. Pushing it are Oriental bank of commerce trading up by 7.40% at Rs143 along with ICICI bank by 7.19% at Rs575.30, Bank of India by 5.36% at Rs247.55, Federal bank by 4.47% at Rs193.90, Axis bank by 4.17% at Rs664, SBI by 4.03% at Rs1318.95, IOB by 3.83% at Rs66.50, Karnataka bank by 3.04% at Rs91.65 and IDBI bank by 3.66% at Rs63.75.

The Capital goods index is trading higher by 296.95 points or 3.54% at 8,674.32. Gainers from this pack are ABB trading up by 5.75% at Rs491.10 along with Siemens by 5.50% at Rs361.80, Crompton Greaves by 4.84% at Rs176.50, Usha Martin by 4.44% at Rs42.35, L&T by 4.21% at Rs987.05, Thermax by 3.44% at Rs278.25, Jyoti Structures by 3.35% at Rs87.95 and Bharat Bijli by 2.47% at Rs665.

The most active shares on NSE are Unitech trading at Rs51.15 with a total traded quantity of 41854542 shares followed by Cairn India trading at Rs.199.95 with a total traded quantity of 28051126 shares.

GTL Ltd is trading flat at Rs264.85. The company has extended its Network Deployment and Project Management capabilities to deploy distribution and transmission networks fro power utilities. The company has bagged multiple contracts valued approximately at Rs 324 Crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL).

The Turnkey contract includes construction, erection, testing and commissioning of sub-transmission lines, distribution lines, power transformers, renovation and modernization works in the State of Maharashtra.

On the global markets front, the European markets are trading mixed as the FTSE 100 is trading up by (0.49%) while DAX index is trading down by (0.06%).

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