After robust opening, the key benchmark indices traded volatile with positive bias. Foreign funds have been on a selling drive recently after consistence buying during the past three months or so. Rollovers for the derivative contracts for June 2009 series, which expired on Thursday, 25 June 2009, were weak as against previous series as traders were cautious of rolling over existing positions ahead of the Union Budget 2009-10 scheduled in the first week of July 2009.
Meanwhile, Nifty has turned a free-float market capitalisation based index as against its earlier full-market capitalisation method.
As a consequence, weights of public sector undertakings - ONGC, NTPC, SAIL, Power Grid Corporation and National Aluminum Company, come down by at least 50%. Other stocks that will resume the pinch due to change in methodology include Bharti Airtel, Reliance Communications, Tata Consultancy Services, DLF and Wipro.
On the other side, Infosys Technologies, ICICI Bank, Larsen and Toubro, HDFC and HDFC Bank stand to gain from this change as their weightages almost double from earlier.
On the sectoral front, out of 13 Indices, 12 were traded in green and only 1 was in red. Banking stocks advanced on firm American depository receipt (ADRs) and hopes of financial sector reforms in the Union Budget 2009-10.
Metal stocks improved after LME, a gauge of six metals traded on the London Metal Exchange, climbed 1.52% on Thursday, 25 June 2009
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,553 stocks traded so far, 1,521 shares advanced while 937 shares declined. Nearly 95 shares are unchanged.
The BSE Sensex is trading higher by 232.57 points at 14,578.20 whereas NSE Nifty is up by 75.5 points at 4,317.35.
The BSE Mid Cap is trading higher by 80.02 points at 5,129.92 and Small cap is trading up by 78.63 points at 5,771.65.
Major gainers from the BSE Sensex pack are Sterlite Industries Ltd advanced 5.31% to Rs. 607.40 along with ICICI Bank 4.80% to Rs. 732.25, Larsen & Toubro Ltd gained 3.77% to Rs. 1585.20, BHEL Ltd improved 3.04% to Rs. 2198.00, Reliance Industries Ltd advanced 2.23% to Rs. 2,003.25, Hindalco Industries Ltd jumped 2.07% to Rs. 86.45, Bharti Airtel Ltd 2.02% to Rs. 814.00, Reliance Communication Ltd gained 2.01% to Rs. 306.50 and Infosys Technologies Ltd gained 1.86% to Rs. 1,790.50 among others.
Losers from the BSE Sensex Pack are Sun Pharmaceuticals Industries Ltd plunged 12.97% to Rs. 1,130.00 along with Tata Steel Ltd plunged 3.13% to Rs. 385.50, Ranbaxy Labs Ltd dipped 2.64% to Rs. 259.80, ONGC plunged 0.89% to Rs. 1,016.05, Mahindra & Mahindra Ltd 0.66% to Rs. 698.00, Housing Development Finance Co by 0.33% to Rs. 2,370.35, NTPC Ltd 0.21% to Rs. 194.00 and ITC Ltd slipped 0.13% to Rs. 193.85 among others.
The BSE Bankex is higher by 185.03 points or 2.32% at 8,155.89. Stocks trading in green are Karnataka Bank Ltd 4.81% to Rs. 145.00, ICICI Bank 4.80% to Rs. 732.25, Indus Ind Bank 4.31% to Rs. 89.55, Axis Bank Ltd by 3.27% to Rs. 802.75 and Kotak Bank 3.03% to Rs. 636.00 among others.
Indiabulls Financial Services Ltd spurted 4.99% to Rs. 185.20 after 15 lakh shares changed hands in two block deals on BSE and NSE combined.
Videocon Industries Ltd zoomed 4.04% to Rs. 173.95 on reports the company could join the race to acquire Great Offshore.
Apar Industries Ltd shrunk 8.65% to Rs. 115.05 after the company posted consolidated a net loss of Rs. 5.32 crore in the year ended March 2009 as compared to net profit of Rs 88.86 crore in the year ended March 2008.
J Kumar Infraprojects Ltd spurted 4.99% to Rs. 99.90 after the company bagged two orders aggregating Rs 8.56 crore.
Sun Pharmaceuticals Industries Ltd plunged 12.97% to Rs. 1,130.00 after reports the US drug regulator has seized generic drugs made by Caraco Pharmaceutical Laboratories, a US subsidiary of Sun Pharma.
Tata Power Company Ltd gained 1.38% to Rs. 1,169.95 after the company entered into a memorandum of understanding with group firm Tata Steel to set up a 525 megawatt power plant in Netherlands.
Cairn India Ltd gained 3.85% to Rs. 233.55 after crude oil prices surged over 2% on the New York Mercantile Exchange on Thursday, 25 June 2009.
Meanwhile, Nifty has turned a free-float market capitalisation based index as against its earlier full-market capitalisation method.
As a consequence, weights of public sector undertakings - ONGC, NTPC, SAIL, Power Grid Corporation and National Aluminum Company, come down by at least 50%. Other stocks that will resume the pinch due to change in methodology include Bharti Airtel, Reliance Communications, Tata Consultancy Services, DLF and Wipro.
On the other side, Infosys Technologies, ICICI Bank, Larsen and Toubro, HDFC and HDFC Bank stand to gain from this change as their weightages almost double from earlier.
On the sectoral front, out of 13 Indices, 12 were traded in green and only 1 was in red. Banking stocks advanced on firm American depository receipt (ADRs) and hopes of financial sector reforms in the Union Budget 2009-10.
Metal stocks improved after LME, a gauge of six metals traded on the London Metal Exchange, climbed 1.52% on Thursday, 25 June 2009
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,553 stocks traded so far, 1,521 shares advanced while 937 shares declined. Nearly 95 shares are unchanged.
The BSE Sensex is trading higher by 232.57 points at 14,578.20 whereas NSE Nifty is up by 75.5 points at 4,317.35.
The BSE Mid Cap is trading higher by 80.02 points at 5,129.92 and Small cap is trading up by 78.63 points at 5,771.65.
Major gainers from the BSE Sensex pack are Sterlite Industries Ltd advanced 5.31% to Rs. 607.40 along with ICICI Bank 4.80% to Rs. 732.25, Larsen & Toubro Ltd gained 3.77% to Rs. 1585.20, BHEL Ltd improved 3.04% to Rs. 2198.00, Reliance Industries Ltd advanced 2.23% to Rs. 2,003.25, Hindalco Industries Ltd jumped 2.07% to Rs. 86.45, Bharti Airtel Ltd 2.02% to Rs. 814.00, Reliance Communication Ltd gained 2.01% to Rs. 306.50 and Infosys Technologies Ltd gained 1.86% to Rs. 1,790.50 among others.
Losers from the BSE Sensex Pack are Sun Pharmaceuticals Industries Ltd plunged 12.97% to Rs. 1,130.00 along with Tata Steel Ltd plunged 3.13% to Rs. 385.50, Ranbaxy Labs Ltd dipped 2.64% to Rs. 259.80, ONGC plunged 0.89% to Rs. 1,016.05, Mahindra & Mahindra Ltd 0.66% to Rs. 698.00, Housing Development Finance Co by 0.33% to Rs. 2,370.35, NTPC Ltd 0.21% to Rs. 194.00 and ITC Ltd slipped 0.13% to Rs. 193.85 among others.
The BSE Bankex is higher by 185.03 points or 2.32% at 8,155.89. Stocks trading in green are Karnataka Bank Ltd 4.81% to Rs. 145.00, ICICI Bank 4.80% to Rs. 732.25, Indus Ind Bank 4.31% to Rs. 89.55, Axis Bank Ltd by 3.27% to Rs. 802.75 and Kotak Bank 3.03% to Rs. 636.00 among others.
Indiabulls Financial Services Ltd spurted 4.99% to Rs. 185.20 after 15 lakh shares changed hands in two block deals on BSE and NSE combined.
Videocon Industries Ltd zoomed 4.04% to Rs. 173.95 on reports the company could join the race to acquire Great Offshore.
Apar Industries Ltd shrunk 8.65% to Rs. 115.05 after the company posted consolidated a net loss of Rs. 5.32 crore in the year ended March 2009 as compared to net profit of Rs 88.86 crore in the year ended March 2008.
J Kumar Infraprojects Ltd spurted 4.99% to Rs. 99.90 after the company bagged two orders aggregating Rs 8.56 crore.
Sun Pharmaceuticals Industries Ltd plunged 12.97% to Rs. 1,130.00 after reports the US drug regulator has seized generic drugs made by Caraco Pharmaceutical Laboratories, a US subsidiary of Sun Pharma.
Tata Power Company Ltd gained 1.38% to Rs. 1,169.95 after the company entered into a memorandum of understanding with group firm Tata Steel to set up a 525 megawatt power plant in Netherlands.
Cairn India Ltd gained 3.85% to Rs. 233.55 after crude oil prices surged over 2% on the New York Mercantile Exchange on Thursday, 25 June 2009.
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