After tentative opening, the key benchmark indices hit intraday high in mid morning trade in choppy trade on the back of firm Asian stocks and higher US index futures. Back home, the indices snapped a four-day slide after upbeat US factory and jobs data provided more evidence that the global economy is recovering from its deep recession.
Meanwhile, investor expectations from the new government are high in financial sector in the shape of reforms such as increase in the cap on foreign direct investment in insurance sector to 49%, from 26% at present.
On the sectoral front, out of 13 Indices, 10 were traded in green whereas 3 were in red. Bank stocks advanced on higher advance tax payment in Q1 June 2009.
IT stocks advanced on reports the forthcoming Union Budget may extend the corporate tax holiday enjoyed by export-oriented units and software parks by three more years, as the government looks forward to clearing the air for companies in these segments reeling under a demand slump in key Western markets.
Auto stocks advanced on bargain hunting after a recent slide. Capital goods stocks advanced on hopes the government may boost spending on the infrastructure sector.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,552 stocks traded so far, 1,156 shares advanced while 1,313 shares declined. Nearly 83 shares are unchanged.
The BSE Sensex is trading higher by 13.68 points at 14,279.21 whereas NSE Nifty is down by 12.94 points at 4,238.45.
The BSE Mid Cap is trading higher by 1.80 points at 4,878.66 and Small cap is trading down by 11.23 points at 5,561.20.
Major gainers from the BSE Sensex pack are Tata steel Limited 4.37% to Rs. 406.00, along with Tata Motors Limited advanced 4.14% to Rs. 342.20, Larsen & Toubro Limited 2.94% to Rs. 1,456.95, Infosys Technologies Limited by 2.62% to Rs. 1,766.50, Sterlite Industries Limited advanced 2.34% to Rs. 603.00, Jaiprakash Associates Limited spurted 2.30% to Rs. 195.70, Reliance Infrastructure advanced 1.99% to Rs. 1,225.10 and BHEL Limited advanced 1.97% to Rs. 2,073.00 among others.
Losers from the BSE Sensex Pack are NTPC Limited plunged 2.89% to Rs. 196.70 along with ACC Limited plunged 2.42% to Rs. 740.00, Mahindra & Mahindra Limited plunged 2.21% to Rs. 725.05, ONGC Limited plunged 1.72% to Rs. 995.00, Tata Power Limited 1.24% to Rs. 1,162.20, ICICI Bank Limited by 1.12% to Rs. 696.00, Bharti Airtel by 0.28% to Rs. 803.00 and State Bank of India Limited 0.01% to Rs. 1,702.00 among others.
Punj Lloyd Limited jumped 4.27% to Rs. 191.60 on value buying after it shed 12.62% in preceeding two sessions.
Oriental Bank of Commerce Limited advanced 1.80% to Rs. 180.70 after a block deal of 4.43 lakh shares was executed on NSE at Rs 181 per share.
Bank of Baroda Limited advanced 0.13% to Rs. 429.20 after a block deal of 1.52 lakh shares was executed on NSE at Rs. 431.50 per share.
Jaiprakash Associates Limited spurted 2.30% to Rs. 195.70 after it raised Rs. 500 crore through sale of 2.5 crore treasury shares in a block deal on Thursday, 18 June 2009.
Lupin Limited advanced 0.16% to Rs. 819.00 after the company received US drug regulator''s nod for a generic drug.
Reliance Infrastructure advanced 1.99% to Rs. 1,225.10 on reports a consortium of the company and Hyundai Engineering is likely to win a contract worth Rs 1500 crore to connect Mumbai''s Bandra-Worli sea link with Haji Ali.
Dr Reddy''s Laboratories Limited advanced 1.38% to Rs. 740.50 after the company secured US drug regulator''s nod for a generic drug.
Opto Circuits India Limited spurted 4.33% to Rs. 156.75 after consolidated net profit surged 59.8% to Rs 209.80 crore in the year ended March 2009 over the year ended March 2008.
Meanwhile, investor expectations from the new government are high in financial sector in the shape of reforms such as increase in the cap on foreign direct investment in insurance sector to 49%, from 26% at present.
On the sectoral front, out of 13 Indices, 10 were traded in green whereas 3 were in red. Bank stocks advanced on higher advance tax payment in Q1 June 2009.
IT stocks advanced on reports the forthcoming Union Budget may extend the corporate tax holiday enjoyed by export-oriented units and software parks by three more years, as the government looks forward to clearing the air for companies in these segments reeling under a demand slump in key Western markets.
Auto stocks advanced on bargain hunting after a recent slide. Capital goods stocks advanced on hopes the government may boost spending on the infrastructure sector.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,552 stocks traded so far, 1,156 shares advanced while 1,313 shares declined. Nearly 83 shares are unchanged.
The BSE Sensex is trading higher by 13.68 points at 14,279.21 whereas NSE Nifty is down by 12.94 points at 4,238.45.
The BSE Mid Cap is trading higher by 1.80 points at 4,878.66 and Small cap is trading down by 11.23 points at 5,561.20.
Major gainers from the BSE Sensex pack are Tata steel Limited 4.37% to Rs. 406.00, along with Tata Motors Limited advanced 4.14% to Rs. 342.20, Larsen & Toubro Limited 2.94% to Rs. 1,456.95, Infosys Technologies Limited by 2.62% to Rs. 1,766.50, Sterlite Industries Limited advanced 2.34% to Rs. 603.00, Jaiprakash Associates Limited spurted 2.30% to Rs. 195.70, Reliance Infrastructure advanced 1.99% to Rs. 1,225.10 and BHEL Limited advanced 1.97% to Rs. 2,073.00 among others.
Losers from the BSE Sensex Pack are NTPC Limited plunged 2.89% to Rs. 196.70 along with ACC Limited plunged 2.42% to Rs. 740.00, Mahindra & Mahindra Limited plunged 2.21% to Rs. 725.05, ONGC Limited plunged 1.72% to Rs. 995.00, Tata Power Limited 1.24% to Rs. 1,162.20, ICICI Bank Limited by 1.12% to Rs. 696.00, Bharti Airtel by 0.28% to Rs. 803.00 and State Bank of India Limited 0.01% to Rs. 1,702.00 among others.
Punj Lloyd Limited jumped 4.27% to Rs. 191.60 on value buying after it shed 12.62% in preceeding two sessions.
Oriental Bank of Commerce Limited advanced 1.80% to Rs. 180.70 after a block deal of 4.43 lakh shares was executed on NSE at Rs 181 per share.
Bank of Baroda Limited advanced 0.13% to Rs. 429.20 after a block deal of 1.52 lakh shares was executed on NSE at Rs. 431.50 per share.
Jaiprakash Associates Limited spurted 2.30% to Rs. 195.70 after it raised Rs. 500 crore through sale of 2.5 crore treasury shares in a block deal on Thursday, 18 June 2009.
Lupin Limited advanced 0.16% to Rs. 819.00 after the company received US drug regulator''s nod for a generic drug.
Reliance Infrastructure advanced 1.99% to Rs. 1,225.10 on reports a consortium of the company and Hyundai Engineering is likely to win a contract worth Rs 1500 crore to connect Mumbai''s Bandra-Worli sea link with Haji Ali.
Dr Reddy''s Laboratories Limited advanced 1.38% to Rs. 740.50 after the company secured US drug regulator''s nod for a generic drug.
Opto Circuits India Limited spurted 4.33% to Rs. 156.75 after consolidated net profit surged 59.8% to Rs 209.80 crore in the year ended March 2009 over the year ended March 2008.
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