Tuesday, May 12, 2009

Markets Have Extended Gains - May 12, 2009

The benchmark indices have extended their gains and are now trading near the day’s high. All the sectorial indices are trading in green. The markets shrugged off the lower than expected IIP data. The IT, Banking, Oil & Gas and Realty stocks are fronting the rally today. The broader market indices also recovered from the early lows and are now trading flat.

The BSE Sensex is now trading above the 11,950 mark and the NSE Nifty above the 3,600 mark.

The overall market breadth is positive as 1215 stocks are advancing while 1166 stocks are declining in BSE.

Infosys Technologies reported the top gainer from the BSE Sensex pack, as it is trading up by (4.99%) at Rs. 1,590 while ACC reported the top loser trading down by (1.65%) at Rs. 582.70.

BSE Sensex is at 11,967.22 up by 284.33 points and Nifty is at 3,629.80 up by 75.20 points.

The BSE Mid Cap is higher by 7.48 points at 3,718.90 and the BSE Small Cap increased by 36.36 points to 4,221.68.

The IT index is trading with handsome gains of 110.12 points or 4.08% at 2,806.83. Leading the rally are Wipro trading up by 5.64% at Rs369.10 along with Infosys technologies by 4.89% at Rs1588.50, Mphasis by 3.76% at Rs245.75, Finance Technologies by 3.24% at Rs742.95, NIIT by 3.03% at Rs30.60, HCL Technologies by 2.48% at Rs144.60, Oracle Finance by 2.06% at Rs862 and Tech Mahindra by 2.03% at Rs356.95.

The Bankex index is trading higher by 198.02 points or 3.32% at 6,160.58. Pushing it are Allahabad bank trading up by 5.53% at Rs58.20 in line with Punjab National Bank by 5.17% at Rs545.95, HDFC bank by 4.58% at Rs1197.25, ICICI bank by 3.68% at Rs542.70, Union bank by 3.03% at Rs163, SBI by 2.12% at Rs1287.40 and Bank of India by 1.94% at Rs239.25.

The most active shares on NSE are Unitech trading at Rs50.65 with a total traded quantity of 73962527 shares followed by Suzlon Energy trading at Rs.75.55 with a total traded quantity of 27394835 shares.

TCS is trading up by 1.97% at Rs628.65. The company announced that Forrester, an independent research firm, cited TCS as a leader in its April 2009 report titled "The Forrester Wave".

On the global markets front, the European markets are trading mixed as the FTSE 100 and DAX index are trading up by (0.24%) and (0.90%) respectively.

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