Friday, May 22, 2009

Markets Back In Positive Territory - May 22, 2009

The markets gained some grounds from the session lows but the volatility still persists. The Capital Goods, Banking, Oil & Gas and Pharma stocks are attracting significant buying attention today. However, Consumer Durables, Auto, Realty and Metal stocks are still reeling under pressure. The Mid Cap and the Small Cap stocks also gained further momentum as the BSE Mid Cap is now trading with a gain of more than 1% and the BSE Small Cap with a gain of more than 2%.

The BSE Sensex is now trading above the 13,850 mark and the NSE Nifty above the 4,200 mark.

The overall market breadth is positive as 1930 stocks are advancing while 719 stocks are declining in BSE.

ICICI Bank reported the top gainer from the BSE Sensex pack, as it is trading up by (4.57%) at Rs. 703 while ONGC reported the top loser trading down by (4.16%) at Rs. 1,030.

BSE Sensex is at 13,891.48 up by 154.94 points and Nifty is at 4,232.40 up by 21.50 points.

The BSE Mid Cap is trading higher by 49.67 points at 4,723.54 and the BSE Small Cap increased by 128.30 points to 5,470.83.

The Capital Goods index is trading up by 194.88 points or 1.81% at 10,989.84. Pushing it are SKF India trading up by 8.30% at Rs218 along with Punj Lloyd by 5.44% at Rs184.20, Praj Inds by 5.14% at Rs100.30, Walchand Inds by 5% at Rs172.20, Reliance Industrial Infra by 4.91% at Rs1, 002.50, AIA Engineering by 4.52% at Rs215 and LT by 3.53% at Rs1,286.50.

The Bankex index is trading with decent gains of 125.40 points or 1.63% at 7,814.63. Leading from the gainers pack are Karnataka bank trading up by 14.22% at Rs140.55 in line with ICICI Bank by 4.86% at Rs705, Indusind bank by 3.73% at Rs57, Kotak bank by 3.38% at Rs638.10, IDBI bank by 2.68% at Rs88.10, Axis bank by 2.28% at Rs751.70, HDFC bank by 0.67% at Rs1376.50 and SBI by 0.45% at Rs1722.10.

The most active shares on NSE are Satyam Comp trading at Rs 53.20 with a total traded quantity of 78957611 shares followed by Unitech trading at Rs.71.80 with a total traded quantity of 44650293 shares.

Federal bank is trading lower by 6.88% at Rs232. The Bank has posted a net profit of Rs 1141.70 million for the quarter ended March 31, 2009 as compared to Rs 1028.60 million for the quarter ended March 31, 2008.

Total Income has increased from Rs 8417.90 million for the quarter ended March 31, 2008 to Rs 10162.80 million for the quarter ended March 31, 2009. The Bank has posted a net profit of Rs 5004.90 million for the year ended March 31, 2009 as compared to Rs 3680.50 million for the year ended March 31, 2008.

Total Income has increased from Rs 29101.60 million for the year ended March 31, 2008 to Rs 38311.50 million for the year ended March 31, 2009.

On the global markets front, the European markets are trading higher as the FTSE 100 and DAX index are trading up by (0.68%) and (0.86%) respectively.

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