After a spectacular opening, the key benchmark indices extended gains on sustained buying by foreign funds. Foreign funds bought shares worth Rs. 955.31 crore on Tuesday 9 June 2009. Indian stocks roared on expectations that ample liquidity in pipeline and a return of risk appetite will nudge India Inc corporate profits.
India Inc has already raised almost Rs. 5,000 crore from three qualified institutional placements (QIPs) so far in 2009 and announced plans to raise another Rs 20,000 crore.
On the sectoral front, out of 13 Indices, all were traded in green. Oil stocks advanced as crude oil surged towards $71 a barrel for the first time in seven months on a larger-than-expected fall in crude oil stocks and a view that falling oil demand may have bottomed.
IT stocks fell on stronger rupee. Banking stocks gained on reports the Reserve Bank of India may standardize the way banks calculate their prime lending rates (RLRs) and bar them from lending below their respective PLRs for more transparency.
Metal stocks gained as six metals traded on the London Stock Exchange jumped 3.8% overnight.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,717 stocks traded so far, 1,411 shares advanced while 1,241 shares declined. Nearly 65 shares are unchanged.
The BSE Sensex is trading higher by 405.17 points at 15,532.17 and NSE Nifty is up by 124.40 points at 4,675.35.
The BSE Mid Cap is trading higher by 98.50 points at 5,374.23 and Small cap is trading up by 66.18 points at 6,251.80.
Major gainers from the BSE Sensex pack are Wipro Ltd 5.96% to Rs. 449.00, along with, Tata Power Ltd spurted 5.70% to Rs. 1,205.35, HDFC Bank Ltd spurted 5.66% to Rs. 1,495.50, Larsen & Toubro 4.97%% to Rs. 1,652.00, Reliance Infrastructure Ltd by 4.76% to Rs. 1,204.00, Sterlite Industries Ltd by 4.61% to Rs. 684.00, ONGC Ltd by 4.30% to Rs. 1,180.00, Hindustan Uniliver Ltd rose 3.74% to Rs. 266.00 and Bharti Airtel Ltd 3.17% to Rs. 838.55 among others.
Losers from the BSE Sensex Pack are DLF Ltd plunged 0.98% to Rs. 398.75 along with Tata Motors Ltd fell 0.68% to Rs. 366.00, State Bank of India 0.41% to Rs. 1,756..00 and Sun Pharmaceuticals Ltd by 0.36% to Rs. 1,331.00 among others.
The BSE Capital Goods is higher by 419.13 points or 3.22% at 13,435.97. Stocks trading in green are Usha Martin Ltd spurted 6.69% to Rs. 56.60, ABB Ltd 5.18% to Rs. 774.00, Havells India Ltd 5.14% to Rs. 307.10, Larsen & Toubro 4.97%% to Rs. 1,652.00 and Bharat Bijili Ltd by 4.88% to Rs. 910.00.
Tata Power Ltd spurted 5.70% to Rs. 1,205.35 on reports its earnings may get boost this year as the company is now in a position to sell 100 megawatts of power from its Trombay unit as merchant sale.
Orient Abrasives spurted 14.74% to Rs. 37.75 after the company said its board will meet on 24 June 2009 to consider issue of bonus shares.
Shriram Transport Finance Company Ltd advanced 0.43% to Rs. 301.05 after a block deal of 7.75 lakh shares was executed on NSE at Rs. 303 per share.
Housing Development Finance Corporation Ltd gained 2.17% to Rs. 2,406.50 after the company said it plans to raise up to Rs. 4,000 crore through a debenture-cum-warrant issue to institutional investors.
Vishal Information Technologies Ltd surged 3.26% to Rs. 61.80 after the company said its board will meet on 16 June 2009 to consider issue of bonus shares.
Maytas Infra Ltd jumped 2.63% to Rs. 85.80 after the company said it will soon start work on two airport projects in Karnataka.
Dr Reddy''s Laboratories Ltd spurted 5.29% to Rs. 749.00 after the company received US drug regulator''s nod for a generic drug.
Tech Mahindra Ltd spurted 9.92% to Rs. 818.00 after Satyam Computer Services posted un-audited consolidated net profit of Rs 160 crore in Q3 December 2008.
Infosys Technologies gained 1.04% to Rs. 1,814.25 after it won a new information technology-outsourcing contract from Telstra Corp, Australia''s top phone company.
India Inc has already raised almost Rs. 5,000 crore from three qualified institutional placements (QIPs) so far in 2009 and announced plans to raise another Rs 20,000 crore.
On the sectoral front, out of 13 Indices, all were traded in green. Oil stocks advanced as crude oil surged towards $71 a barrel for the first time in seven months on a larger-than-expected fall in crude oil stocks and a view that falling oil demand may have bottomed.
IT stocks fell on stronger rupee. Banking stocks gained on reports the Reserve Bank of India may standardize the way banks calculate their prime lending rates (RLRs) and bar them from lending below their respective PLRs for more transparency.
Metal stocks gained as six metals traded on the London Stock Exchange jumped 3.8% overnight.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,717 stocks traded so far, 1,411 shares advanced while 1,241 shares declined. Nearly 65 shares are unchanged.
The BSE Sensex is trading higher by 405.17 points at 15,532.17 and NSE Nifty is up by 124.40 points at 4,675.35.
The BSE Mid Cap is trading higher by 98.50 points at 5,374.23 and Small cap is trading up by 66.18 points at 6,251.80.
Major gainers from the BSE Sensex pack are Wipro Ltd 5.96% to Rs. 449.00, along with, Tata Power Ltd spurted 5.70% to Rs. 1,205.35, HDFC Bank Ltd spurted 5.66% to Rs. 1,495.50, Larsen & Toubro 4.97%% to Rs. 1,652.00, Reliance Infrastructure Ltd by 4.76% to Rs. 1,204.00, Sterlite Industries Ltd by 4.61% to Rs. 684.00, ONGC Ltd by 4.30% to Rs. 1,180.00, Hindustan Uniliver Ltd rose 3.74% to Rs. 266.00 and Bharti Airtel Ltd 3.17% to Rs. 838.55 among others.
Losers from the BSE Sensex Pack are DLF Ltd plunged 0.98% to Rs. 398.75 along with Tata Motors Ltd fell 0.68% to Rs. 366.00, State Bank of India 0.41% to Rs. 1,756..00 and Sun Pharmaceuticals Ltd by 0.36% to Rs. 1,331.00 among others.
The BSE Capital Goods is higher by 419.13 points or 3.22% at 13,435.97. Stocks trading in green are Usha Martin Ltd spurted 6.69% to Rs. 56.60, ABB Ltd 5.18% to Rs. 774.00, Havells India Ltd 5.14% to Rs. 307.10, Larsen & Toubro 4.97%% to Rs. 1,652.00 and Bharat Bijili Ltd by 4.88% to Rs. 910.00.
Tata Power Ltd spurted 5.70% to Rs. 1,205.35 on reports its earnings may get boost this year as the company is now in a position to sell 100 megawatts of power from its Trombay unit as merchant sale.
Orient Abrasives spurted 14.74% to Rs. 37.75 after the company said its board will meet on 24 June 2009 to consider issue of bonus shares.
Shriram Transport Finance Company Ltd advanced 0.43% to Rs. 301.05 after a block deal of 7.75 lakh shares was executed on NSE at Rs. 303 per share.
Housing Development Finance Corporation Ltd gained 2.17% to Rs. 2,406.50 after the company said it plans to raise up to Rs. 4,000 crore through a debenture-cum-warrant issue to institutional investors.
Vishal Information Technologies Ltd surged 3.26% to Rs. 61.80 after the company said its board will meet on 16 June 2009 to consider issue of bonus shares.
Maytas Infra Ltd jumped 2.63% to Rs. 85.80 after the company said it will soon start work on two airport projects in Karnataka.
Dr Reddy''s Laboratories Ltd spurted 5.29% to Rs. 749.00 after the company received US drug regulator''s nod for a generic drug.
Tech Mahindra Ltd spurted 9.92% to Rs. 818.00 after Satyam Computer Services posted un-audited consolidated net profit of Rs 160 crore in Q3 December 2008.
Infosys Technologies gained 1.04% to Rs. 1,814.25 after it won a new information technology-outsourcing contract from Telstra Corp, Australia''s top phone company.
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