Friday, June 26, 2009

Markets Gained Further Grounds - June 26, 2009

The markets are now trading near the day’s high and with strong gains as buying momentum continued across the board. Further the positive opening of the European markets also boosted the sentiments. The Capital Goods and Banking index outperformed the benchmark index today and are now trading with a gain of more than 3% each.

The broader market indices are also trading significantly higher as both the BSE Mid Cap and the BSE Small Cap index are now trading with a gain of more than 1% each.

The BSE Sensex is now trading above the 14,600 mark while the NSE Nifty above the 4300 mark.

The overall market breadth is positive as 1546 stocks are advancing while 996 stocks are declining in BSE.

ICICI Bank reported the top gainer from the BSE Sensex pack, as it is trading up by (6.26%) at Rs. 742.45 while Sun Pharmaceuticals reported the top loser trading down by (12.13%) at Rs. 1,140.90.

The BSE Sensex is trading up by 281.56 points at 14,627.18 and the NSE Nifty is trading higher by 95.70 points or (2.26%) at 4,337.55.

The BSE Mid Cap increased by 94.88 points or (1.88%) to 5,144.78 and the BSE Small Cap grew by 88.81 points or (1.56%) to 5,781.83.

The Capital Goods index is trading with gains of 486.82 points or 3.87% at 13,065.88. Gainers from this pack are Larsen and Toubro trading up by 5.49% at Rs1611.50 along with Suzlon Energy by 4.50% at Rs123.15, Thermax Ltd by 4.20% at Rs412, Reliance Industrial Infra by 3.86% at Rs1009.90, Areva by 3.02% at Rs342.50, Punj Lloyd by 2.66% at Rs214.50, Bhel by 2.57% at Rs2,188 and Gammon India by 2.13% at Rs172.50.

The Bankex index is trading higher by 250.05 points or 3.14% at 8,220.91. Leading the rally are ICICI bank trading up by 6.63% at Rs745 along with Kotak bank by 5.07% at Rs648.60, Axis bank by 4.60% at Rs813.05, IDBI bank by 3.33% at Rs116.25, Indusind bank by 3.26% at Rs88.65, Union bank by 2.53% at Rs235, Canara bank by 2.52% at Rs264.50, Punjab National Bank by 2.32% at Rs644.05, SBI by 1.95% at Rs1737.60 and Yes bank by 1.85% at Rs142.80.

The most active shares on NSE are IFCI trading at Rs 55.20 with a total traded quantity of 51798385 shares followed by Unitech trading at Rs.82.45 with a total traded quantity of 43125103 shares.

State Bank of Mysore is trading up by 0.86% at Rs584.90. The bank has informed that the Bank has revised the following rates with effect from June 29, 2009. Bench-Mark Prime Lending Rate: Reduction by 50 basis points and the deposit Rates Reduction by 25 basis points.

Tata Steel Ltd is trading lower by 3.32% at Rs384.75. The company has announced the following Audited results for the year ended March 31, 2009.

The Company has posted a net profit of Rs 52017.40 million for the year ended March 31, 2009 as compared to Rs 46870.30 million for the year ended March 31, 2008.

Total Income has increased from Rs 199338.30 million for the year ended March 31, 2008 to Rs 246240.40 million for the year ended March 31, 2009.

On the global markets front, the European markets are now trading higher as the FTSE 100, DAX and CAC 40 index are trading up by (0.70%), (0.84%) and (0.55%) respectively.

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