After a steep slide in the opening, the key benchmark indices nudged higher on stock specific buying in the index pivotals. There are media reports that the government may defer a proposal to decontrol pricing of gasoline and diesel because of the increase in crude oil prices weighed on the sentiment.
Meanwhile, any setback to reforms may ruin on the stock market sentiment at a time when many analysts have been raising earnings forecasts of India inc on expectation that the new government will spur economic reforms to boost growth.
Sectors like Metal and Realty that had witnessed selling pressures yesterday are now trading firm with a phenomenal bounce back.
On the sectoral front, out of 13 Indices, all were traded in green. Bank stocks gained on reports the Reserve Bank of India may standardize the method banks calculate their prime lending rates (PLRs) and bar them from lending below their respective PLRs for more transparency.
Metal stocks advanced as LMEX rose 0.39% to 2,368.70 on Monday, 8 June, 2009. IT stocks continued its gains on expectation worst may be over for the US economy and the US banking system.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,691 stocks traded so far, 1,120 shares advanced while 1,513 shares declined. Nearly 58 shares are unchanged.
The BSE Sensex is trading higher by 373.09 points at 15,039.01 and NSE Nifty is up by 97.30 points at 4,527.20.
The BSE Mid Cap is trading higher by 80.01 points at 5,194.86 and Small cap is trading up by 4.01 points at 6,087.89.
Major gainers from the BSE Sensex pack are Ranbaxy Labs Limited 7.55% to Rs. 286.30, along with, DLF Limited spurted 7.31% to Rs. 392.60, Wipro Limited spurted 7.02% to Rs. 434.50, Tata Steel Limited advanced 5.93% to Rs. 441.25, Reliance Communication Limited by 5.64% to Rs. 326.90, Hindalco Industries Limited by 5.22% to Rs. 91.75, Larsen & Toubro Limited by 4.84% to Rs. 1,550.90, TCS Limited rose 4.73% to Rs. 773.00 and Tata Power Limited 4.64% to Rs. 1,130.50 among others.
Losers from the BSE Sensex Pack are NTPC Limited plunged 0.72% to Rs. 212.70 along with Grasim Industries Limited fell 0.50% to Rs. 2,370.00 and Bharti Airtel Limited by 0.04% to Rs. 811.00 among others.
The BSE Realty is higher by 152.30 points or 4.22% at 3,757.22. Stocks trading in green are DLF Limited spurted 7.31% to Rs. 392.60, Mahindra LifeScience Limited 6.04% to Rs. 307.20, Akruti City Limited 4.99% to Rs. 600.35, Housing Development 4.20%% to Rs. 280.05 and Unitech Limited by 3.58% to Rs. 87.30.
Mphasis Limited advanced 5.79% to Rs. 337.00 after a block deal of four lakh shares was executed on BSE at Rs 325 per share.
Good Luck Steel Tubes Limited surged 4.12% to Rs. 172.00 after setting record date for a 5-for-1 stock split.
Ashok Leyland Limited plunged 1.52% to Rs. 32.30 after total sales declined 64.54% to 1,977 units in May 2009 over May 2008.
DLF Limited spurted 7.31% to Rs. 392.60 on bargain hunting after the stock tumbled 12.08% in the preceding two trading sessions.
Areva T&D India Limited improved 3.33% to Rs. 350.80 after the company bagged four orders aggregating Rs 350 crore.
Meanwhile, any setback to reforms may ruin on the stock market sentiment at a time when many analysts have been raising earnings forecasts of India inc on expectation that the new government will spur economic reforms to boost growth.
Sectors like Metal and Realty that had witnessed selling pressures yesterday are now trading firm with a phenomenal bounce back.
On the sectoral front, out of 13 Indices, all were traded in green. Bank stocks gained on reports the Reserve Bank of India may standardize the method banks calculate their prime lending rates (PLRs) and bar them from lending below their respective PLRs for more transparency.
Metal stocks advanced as LMEX rose 0.39% to 2,368.70 on Monday, 8 June, 2009. IT stocks continued its gains on expectation worst may be over for the US economy and the US banking system.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,691 stocks traded so far, 1,120 shares advanced while 1,513 shares declined. Nearly 58 shares are unchanged.
The BSE Sensex is trading higher by 373.09 points at 15,039.01 and NSE Nifty is up by 97.30 points at 4,527.20.
The BSE Mid Cap is trading higher by 80.01 points at 5,194.86 and Small cap is trading up by 4.01 points at 6,087.89.
Major gainers from the BSE Sensex pack are Ranbaxy Labs Limited 7.55% to Rs. 286.30, along with, DLF Limited spurted 7.31% to Rs. 392.60, Wipro Limited spurted 7.02% to Rs. 434.50, Tata Steel Limited advanced 5.93% to Rs. 441.25, Reliance Communication Limited by 5.64% to Rs. 326.90, Hindalco Industries Limited by 5.22% to Rs. 91.75, Larsen & Toubro Limited by 4.84% to Rs. 1,550.90, TCS Limited rose 4.73% to Rs. 773.00 and Tata Power Limited 4.64% to Rs. 1,130.50 among others.
Losers from the BSE Sensex Pack are NTPC Limited plunged 0.72% to Rs. 212.70 along with Grasim Industries Limited fell 0.50% to Rs. 2,370.00 and Bharti Airtel Limited by 0.04% to Rs. 811.00 among others.
The BSE Realty is higher by 152.30 points or 4.22% at 3,757.22. Stocks trading in green are DLF Limited spurted 7.31% to Rs. 392.60, Mahindra LifeScience Limited 6.04% to Rs. 307.20, Akruti City Limited 4.99% to Rs. 600.35, Housing Development 4.20%% to Rs. 280.05 and Unitech Limited by 3.58% to Rs. 87.30.
Mphasis Limited advanced 5.79% to Rs. 337.00 after a block deal of four lakh shares was executed on BSE at Rs 325 per share.
Good Luck Steel Tubes Limited surged 4.12% to Rs. 172.00 after setting record date for a 5-for-1 stock split.
Ashok Leyland Limited plunged 1.52% to Rs. 32.30 after total sales declined 64.54% to 1,977 units in May 2009 over May 2008.
DLF Limited spurted 7.31% to Rs. 392.60 on bargain hunting after the stock tumbled 12.08% in the preceding two trading sessions.
Areva T&D India Limited improved 3.33% to Rs. 350.80 after the company bagged four orders aggregating Rs 350 crore.
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