Monday, June 22, 2009

Market Volatile Along With Derivative Expiry - June 22, 2009

Market After opening on a rousing note, the key benchmark indices turned volatile as June futures and options contracts set to expire on coming Thursday. Further the traders are squaring off their existing positions and building fresh ones in the July series. On a stock specific move, Reliance communication is trading higher by nearly 3%, after it informed that company is in talks with China Mobile for a strategic alliance and a possible equity participation of 5-6%.

During the last hours’ trading session, buying interest has emerged across Banking, Capital Goods (CG) and Realty stocks while selling pressure has emerged across Oil & Gas and Health Care (HC) counters.

Among the BSE Sectoral indices Bankex, CG and Realty surged by 2.02%, 1.81% and 1.69% respectively, whereas Oil & Gas and HC stocks declined by 1.24% and 0.06% respectively.

Overall market breadth is positive. Out of the total 2,077 stocks traded at BSE, 1,284 advanced, 720 declined while 73 remained unchanged.

The BSE Sensex is surged by 122.75 points at 14,644.64 while NSE Nifty up by 12 points at 4,325.6.

Besides, the BSE Mid Cap and Small Cap are trading higher by 69.13 points and 71.86 Points to 5,027.86 and 5,689.82 respectively.

Gainers from the BSE Sensex Pack are Jaiprakash Associate surged by (3.97%) to Rs. 208.2, along with ICICI Bank by (3.81%) to Rs. 740.95, Reliance Communication by (3.18%) at Rs. 314.85, DLF Limited by (2.54%) at Rs. 338.95, ACC Limited by (2.15%) at Rs. 766.8 and Sterlite Industries by (2.14%) at Rs. 619.7.

Gainers from the NSE Nifty Pack are ICICI Bank Limited up by (3.63%) at Rs. 739.95 along with Reliance Communication by (2.98%) at Rs. 314.15, Suzlon Energy by (2.97%) at Rs. 114.35, Axis Bank by (2.43%) at Rs. 774.5, ACC Limited by (2.31%) at Rs. 766.4 and DLF Limited by (2.31%) at Rs. 338.4.

BSE Bankex is trading higher by (2.02%) or 163.74 points at 8,274.78. The top gainers in the index are Bank of Baroda surged by (4.09%) to Rs. 451.55 along with Bank of India by (4.02%) to Rs. 350.25, Indian Overseas by (3.99%) to Rs. 84.65, ICICI Bank by (3.81%) at Rs.740.95 followed by Canara Bank by (3.66%) to Rs. 265.

BSE Oil & Gas is trading higher by (1.24%) or 116.72 points at 9,270.47. The major losers are ONGC declined by (2.50%) at Rs. 984.80 along with Cairn India by (2.35%) at Rs. 228.55, Indian Oil Corporation by (2.14%) at Rs. 540 followed by Reliance Industries by (1.35%) at Rs.2,012.

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