After gap-down opening, the key benchmark indices regained its strength on the back of stock specific buying on index pivotals. The market lost its month way rally on weak global cues that threaten to disclose more disappointing news like continuing job loss claims, slow rise in commodity demand etc. Also, Investors are keenly watching President Pratibha Patil''s address to a joint session of both houses today, wherein she formally discloses the agenda of the UPA coalition government.
On the sectoral front, out of 13 Indices, 7 were trading in green while only 6 were in red. Metal stocks continued to slide on profit taking after the sharp recent surge and on fears of waning global demand. PSU stocks gained on news of disinvestment front in President Pratibha Patil’s address to a joint session of both houses. FMCG majors edged higher on defensive buying. Outsourcing focused IT firms fell on rupee appreciation against dollar.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,754 stocks traded so far, 1,942 shares advanced while 757 shares declined. Nearly 55 shares are unchanged.
The BSE Sensex is trading higher by 69.46 points at 14,940.37 and NSE Nifty is up by 20.40 points at 4,551.10.
The BSE Mid Cap is trading higher by 90.73 points at 5,416.28 and Small cap is trading up by 116.60 points at 6,501.53.
Major gainers from the BSE Sensex pack are Ranbaxy Laboratories Limited surged 4.35% to Rs. 278.00 along with Hindustan Uniliver Limited by 4.07% to Rs. 249.45, Reliance Communication Limited spurted 2.57% to Rs. 341.45, Sun Pharmaceuticals Limited advanced 2.41% to Rs. 1,285.00, Jaiprakash Associates Limited by 2.24% to Rs. 230.95, ITC Limited by 2.27% to Rs. 207.60, Reliance Infra by 1.81% to Rs. 1,254.00, DLF Limited rose 1.64% to Rs. 409.45 and Bharti Airtel Limited 1.49% to Rs. 807.90 among others.
Losers from the BSE Sensex Pack are Sterlite Industries Limited plunged 4.97% to Rs. 667.95 along with Hindalco In fell 3.33% to Rs. 90.05, Tata Steel Limited by 3.07% to Rs. 472.90, Infosys Technologies Limited by 2.24% to Rs. 1,609.00 and Tata Power Limited by 2.08% to Rs. 1,031.10 among others.
The BSE FMCG is higher by 49.52 points or 2.20% at 2,297.78. Stocks trading in green are Ruchi Soya Limited 7.09% to Rs. 49.85, Colgate Palm Limited 5.84% to Rs. 514.20, Hindustan Uniliver Limited by 4.07% to Rs. 249.45, Marico Limited 3.69%% to Rs. 73.00 and ITC Limited by 2.27% to Rs. 207.60.
Indage Vintners Limited surged 5% at Rs. 110.05 on reports Japanese beer maker Asahi Breweries and an Indian entrepreneur are in the race to buy a major stake in the company.
Nitin Fire Protection Industries Limited advanced 3.01% to Rs. 309.95 ahead of its board meeting to consider raising funds through various means.
Kinetic Engineering Limited zoomed 5% at Rs. 55.65 after winning an order for supplying specialised transmission gear assemblies to an unspecified European automobile manufacturer.
Asian Electronics Limited galloped 5% at Rs. 47.45 after company said its board of directors will meet on 10 June 2009 to consider raising funds through various routes
Opto Circuits India gained 1.18% to Rs. 188.35 after its board approved raising up to Rs. 400 crore by way of qualified institutional placement.
ITI Limited surged 5% at Rs. 43.20 on reports the government plans selling stakes in three of the six manufacturing plants of the company.
Anu''s Laboratories Limited gained 5.69% to Rs. 38.05 after its board recommended 1:1 bonus issue.
Reliance Industries Limited slides 0.93% to Rs. 2,224.00 as its German unit Trevira, a specialty polyester manufacturer, goes bankrupt.
National Aluminum Company Limited slipped 3.59% to Rs. 344.00 after its net profit fell 80% to Rs 83 crore in Q4 March 2009 over Q4 March 2008 on lower aluminum prices.
On the sectoral front, out of 13 Indices, 7 were trading in green while only 6 were in red. Metal stocks continued to slide on profit taking after the sharp recent surge and on fears of waning global demand. PSU stocks gained on news of disinvestment front in President Pratibha Patil’s address to a joint session of both houses. FMCG majors edged higher on defensive buying. Outsourcing focused IT firms fell on rupee appreciation against dollar.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,754 stocks traded so far, 1,942 shares advanced while 757 shares declined. Nearly 55 shares are unchanged.
The BSE Sensex is trading higher by 69.46 points at 14,940.37 and NSE Nifty is up by 20.40 points at 4,551.10.
The BSE Mid Cap is trading higher by 90.73 points at 5,416.28 and Small cap is trading up by 116.60 points at 6,501.53.
Major gainers from the BSE Sensex pack are Ranbaxy Laboratories Limited surged 4.35% to Rs. 278.00 along with Hindustan Uniliver Limited by 4.07% to Rs. 249.45, Reliance Communication Limited spurted 2.57% to Rs. 341.45, Sun Pharmaceuticals Limited advanced 2.41% to Rs. 1,285.00, Jaiprakash Associates Limited by 2.24% to Rs. 230.95, ITC Limited by 2.27% to Rs. 207.60, Reliance Infra by 1.81% to Rs. 1,254.00, DLF Limited rose 1.64% to Rs. 409.45 and Bharti Airtel Limited 1.49% to Rs. 807.90 among others.
Losers from the BSE Sensex Pack are Sterlite Industries Limited plunged 4.97% to Rs. 667.95 along with Hindalco In fell 3.33% to Rs. 90.05, Tata Steel Limited by 3.07% to Rs. 472.90, Infosys Technologies Limited by 2.24% to Rs. 1,609.00 and Tata Power Limited by 2.08% to Rs. 1,031.10 among others.
The BSE FMCG is higher by 49.52 points or 2.20% at 2,297.78. Stocks trading in green are Ruchi Soya Limited 7.09% to Rs. 49.85, Colgate Palm Limited 5.84% to Rs. 514.20, Hindustan Uniliver Limited by 4.07% to Rs. 249.45, Marico Limited 3.69%% to Rs. 73.00 and ITC Limited by 2.27% to Rs. 207.60.
Indage Vintners Limited surged 5% at Rs. 110.05 on reports Japanese beer maker Asahi Breweries and an Indian entrepreneur are in the race to buy a major stake in the company.
Nitin Fire Protection Industries Limited advanced 3.01% to Rs. 309.95 ahead of its board meeting to consider raising funds through various means.
Kinetic Engineering Limited zoomed 5% at Rs. 55.65 after winning an order for supplying specialised transmission gear assemblies to an unspecified European automobile manufacturer.
Asian Electronics Limited galloped 5% at Rs. 47.45 after company said its board of directors will meet on 10 June 2009 to consider raising funds through various routes
Opto Circuits India gained 1.18% to Rs. 188.35 after its board approved raising up to Rs. 400 crore by way of qualified institutional placement.
ITI Limited surged 5% at Rs. 43.20 on reports the government plans selling stakes in three of the six manufacturing plants of the company.
Anu''s Laboratories Limited gained 5.69% to Rs. 38.05 after its board recommended 1:1 bonus issue.
Reliance Industries Limited slides 0.93% to Rs. 2,224.00 as its German unit Trevira, a specialty polyester manufacturer, goes bankrupt.
National Aluminum Company Limited slipped 3.59% to Rs. 344.00 after its net profit fell 80% to Rs 83 crore in Q4 March 2009 over Q4 March 2008 on lower aluminum prices.
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