Wednesday, June 24, 2009

Markets Gained Further Grounds - June 24, 2009

The markets gained some grounds and are trading higher due to the sustained buying across the sectorial indices. The broader market indices stocks remained in focus today as both the BSE Mid Cap and the BSE Small Cap indices are now trading with a gain of more than 2% each. The significant amount of buying witnessed among the Power, Capital Goods, Pharma and Realty stocks.

The BSE Sensex is now trading above the 14,400 mark while the NSE Nifty above the 4250 mark.

The overall market breadth is positive as 1737 stocks are advancing while 747 stocks are declining in BSE.

TCS reported the top gainer from the BSE Sensex pack, as it is trading up by (4.67%) at Rs. 383.30 while Sterlite Industries reported the top loser trading down by (1.46%) at Rs. 568.75.

The BSE Sensex is trading up by 86.76 points at 14,410.77 and the NSE Nifty is trading marginally higher by 39.75 points or (0.94%) at 4,286.75.

The BSE Mid Cap increased by 103.42 points or (2.09%) to 5,045.76 and the BSE Small Cap grew by 114.52 points or (2.05%) to 5,706.92.

The Power index is trading with decent gains of 69.88 points or 2.50% at 2,868.05. Leading the rally are Torent Power trading up by 16.05% at Rs164.50 along with Suzlon Energy by 7.57% at Rs115.10, Crompton Greaves by 4.90% at Rs290, ABB by 3.92% at Rs750, Siemens by 3.88% at Rs484, GVK Power Infr by 3.14% at Rs41.10, Reliance Infra by 2.70% at Rs1256.50, Bhel by 1.87% at Rs2176 and GMR Infra by 1.29% at Rs140.90.

The Capital Goods index is trading higher by 281.71 points or 2.30% at 12,540.12. Gainers from this pack are Punj Lloyd trading up by 5.10% at Rs207 in line with Gammon India by 4.98% at Rs169.75, ABB by 4.07% at Rs751.05, Areva by 3.25% at Rs327.55, Thermax Limited by 2.25% at Rs401.90 and SKF India by 2.13% at Rs230.

The most active shares on NSE are Unitech trading at Rs 77.45 with a total traded quantity of 62291331 shares followed by Suzlon Energy trading at Rs.115.20 with a total traded quantity of 54056550 shares.

Religare Enterprises Limited is trading lower by 0.65% at Rs398. The company has announced the following results for the quarter & year ended March 31, 2009.

The Company has posted a net profit of Rs 58.160 million for the quarter ended March 31, 2009 as compared to Rs 110.689 million for the quarter ended March 31, 2008.

Total Income has decreased from Rs 154.621 million for the quarter ended March 31, 2008 to Rs 151.218 million for the quarter ended March 31, 2009.

On the global markets front, the European markets are now trading mixed as the FTSE 100 is trading down by (0.14%) while DAX and CAC 40 index are trading up by (0.30%) and (0.20%) respectively.

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