After steep down opening, the key benchmark indices recovered from its bottom on strong buying in index pivotals. The advance tax report figures the list of top taxpayers of Indian Companies from Mumbai which have paid higher advance tax for the first quarter ended June 2009 also bolstered expectation. The higher advance tax payment indicates improved earnings.
Meanwhile, Banking stocks supported the upside momentum after Goldman, Sachs & Co. raised its rating on some state-run banks indicating a likely recovery in India''s economy and the financial services industry.
On the sectoral front, out of 13 Indices, 8 were traded in green whereas 5 were in red. Bank stocks advanced from early losses on higher advance tax payments for Q1 June 2009 by top banks.
Auto stocks plunged on profit taking after recent surge lingered by improved sales in the month of May 2009. Capital Goods stocks advanced on anticipation the government may boost spending on the infrastructure sector.
Healthcare stocks grew on hopes the government may give primary importance to healthcare segment and health of citizens.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,561 stocks traded so far, 1,195 shares advanced while 1,297 shares declined. Nearly 69 shares are unchanged.
The BSE Sensex is trading lower by 24.09 points at 14,851.43 whereas NSE Nifty is up by 3.80 points at 4,487.80.
The BSE Mid Cap is trading higher by 33.14 points at 5,146.34 and Small cap is trading up by 31.39 points at 5,917.15.
Major gainers from the BSE Sensex pack are Reliance Infra Ltd 5.61% to Rs. 1,262.15, along with State Bank of India Ltd advanced 3.71% to Rs. 1,703.00, BHEL Ltd spurted 2.95% to Rs. 2,227.00, Tata Power Ltd 2.69% to Rs. 1,169.90, DLF Ltd by 1.73% to Rs. 358.50, Jaiprakash Associates Ltd by 1.71% to Rs. 213.90, Tata Motors by 1.71% to Rs. 348.20 and ITC Ltd advanced 1.62% to Rs. 200.50 among others.
Losers from the BSE Sensex Pack are TCS Ltd plunged 50.85% to Rs. 382.65 along with Sterlite Industries Ltd plunged 4.56% to Rs. 633.20, Wipro Ltd plunged 3.17% to Rs. 389.00, Tata Steel Ltd plunged 2.11% to Rs. 424.90, Grasim Industries Ltd 1.84% to Rs. 2,352.00, ACC Ltd by 1.55% to Rs. 839.40, ICICI Bank Ltd by 1.42% to Rs. 723.10 and Infosys Technologies 0.96% to Rs. 1,703.80 among others.
The BSE IT is lower by 35.04 points or 1.08% at 3,206.46. Stocks trading in red are TCS Ltd plunged 50.85% to Rs. 382.65, Wipro Ltd 3.07% to Rs. 389.40, Infosys Technologies Ltd 1.37%% to Rs. 1,696.80, Patni Computers Ltd by 1.01% to Rs. 239.35 and Oracle Fin 0.28% to Rs. 1,240.00.
Power Finance Corporation Ltd surged 3.56% to Rs. 202.00 after audited net profit jumped 63.2% to Rs 1969.96 crore in year ended March 2009 over year ended March 2008
IVRCL Infrastructures & Projects Ltd fell 0.34% to Rs. 318.00 despite the company bagged fresh orders worth Rs. 432.36 crore.
Strides Arcolab Ltd spurted 9.30% to Rs. 144.55 after a block deal of five lakh shares was executed on NSE at Rs 130 per share.
Tata Steel Ltd plunged 2.11% to Rs. 424.90 as lower advance tax in the first installment raised fears of poor Q1 June 2009 results from the steel maker.
State Bank of India Ltd advanced 3.71% to Rs. 1,703.00 as a sharp surge in advance tax in the first installment raised expectations of robust Q1 June 2009 results from the state-run bank.
Dr Reddy''s Laboratories Ltd gained 0.20% to Rs. 711.95 after the company entered into a strategic alliance with GlaxoSmithKline plc to develop and market select products across emerging markets outside India.
Meanwhile, Banking stocks supported the upside momentum after Goldman, Sachs & Co. raised its rating on some state-run banks indicating a likely recovery in India''s economy and the financial services industry.
On the sectoral front, out of 13 Indices, 8 were traded in green whereas 5 were in red. Bank stocks advanced from early losses on higher advance tax payments for Q1 June 2009 by top banks.
Auto stocks plunged on profit taking after recent surge lingered by improved sales in the month of May 2009. Capital Goods stocks advanced on anticipation the government may boost spending on the infrastructure sector.
Healthcare stocks grew on hopes the government may give primary importance to healthcare segment and health of citizens.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,561 stocks traded so far, 1,195 shares advanced while 1,297 shares declined. Nearly 69 shares are unchanged.
The BSE Sensex is trading lower by 24.09 points at 14,851.43 whereas NSE Nifty is up by 3.80 points at 4,487.80.
The BSE Mid Cap is trading higher by 33.14 points at 5,146.34 and Small cap is trading up by 31.39 points at 5,917.15.
Major gainers from the BSE Sensex pack are Reliance Infra Ltd 5.61% to Rs. 1,262.15, along with State Bank of India Ltd advanced 3.71% to Rs. 1,703.00, BHEL Ltd spurted 2.95% to Rs. 2,227.00, Tata Power Ltd 2.69% to Rs. 1,169.90, DLF Ltd by 1.73% to Rs. 358.50, Jaiprakash Associates Ltd by 1.71% to Rs. 213.90, Tata Motors by 1.71% to Rs. 348.20 and ITC Ltd advanced 1.62% to Rs. 200.50 among others.
Losers from the BSE Sensex Pack are TCS Ltd plunged 50.85% to Rs. 382.65 along with Sterlite Industries Ltd plunged 4.56% to Rs. 633.20, Wipro Ltd plunged 3.17% to Rs. 389.00, Tata Steel Ltd plunged 2.11% to Rs. 424.90, Grasim Industries Ltd 1.84% to Rs. 2,352.00, ACC Ltd by 1.55% to Rs. 839.40, ICICI Bank Ltd by 1.42% to Rs. 723.10 and Infosys Technologies 0.96% to Rs. 1,703.80 among others.
The BSE IT is lower by 35.04 points or 1.08% at 3,206.46. Stocks trading in red are TCS Ltd plunged 50.85% to Rs. 382.65, Wipro Ltd 3.07% to Rs. 389.40, Infosys Technologies Ltd 1.37%% to Rs. 1,696.80, Patni Computers Ltd by 1.01% to Rs. 239.35 and Oracle Fin 0.28% to Rs. 1,240.00.
Power Finance Corporation Ltd surged 3.56% to Rs. 202.00 after audited net profit jumped 63.2% to Rs 1969.96 crore in year ended March 2009 over year ended March 2008
IVRCL Infrastructures & Projects Ltd fell 0.34% to Rs. 318.00 despite the company bagged fresh orders worth Rs. 432.36 crore.
Strides Arcolab Ltd spurted 9.30% to Rs. 144.55 after a block deal of five lakh shares was executed on NSE at Rs 130 per share.
Tata Steel Ltd plunged 2.11% to Rs. 424.90 as lower advance tax in the first installment raised fears of poor Q1 June 2009 results from the steel maker.
State Bank of India Ltd advanced 3.71% to Rs. 1,703.00 as a sharp surge in advance tax in the first installment raised expectations of robust Q1 June 2009 results from the state-run bank.
Dr Reddy''s Laboratories Ltd gained 0.20% to Rs. 711.95 after the company entered into a strategic alliance with GlaxoSmithKline plc to develop and market select products across emerging markets outside India.
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