Monday, June 29, 2009

Markets Gained Further Grounds - June 29, 2009

The markets gained further momentum and are now trading near the day’s high as buying momentum continued across the board. Further the positive opening of the European markets also boosted the sentiments. The Consumer Durables and Realty index outperformed the benchmark index today and are now trading with a gain of more than 4% each. The broader market indices are also trading significantly higher as the BSE Mid Cap index is now trading with a gain of more than 1.5% and the BSE Small Cap index with a gain of more than 2% each.

The BSE Sensex is now trading above the 14,900 mark while the NSE Nifty above the 4,400 mark.

The overall market breadth is positive as 1740 stocks are advancing while 804 stocks are declining in BSE.

DLF reported the top gainer from the BSE Sensex pack, as it is trading up by (5.50%) at Rs. 343.45 while Tata Motors reported the top loser trading down by (7.42%) at Rs. 315.05.

The BSE Sensex is trading up by 157.42 points at 14,922.06 and the NSE Nifty is trading higher by 56.85 points or (1.30%) at 4,432.35.

The BSE Mid Cap increased by 91.06 points or (1.76%) to 5,261.96 and the BSE Small Cap grew by 124.75 points or (2.15%) to 5,925.50.

The Consumer Durables index is trading with decent gains of 127.29 points or 4.42% at 3,008.77. Leading the rally are Blue Star trading up by 10% at Rs342.15 along with Titan Inds by 3.94% at Rs1183, Rajesh Exports by 1.49% at Rs44.40 and Videocon Inds by 1.13% at Rs183.70.

The Realty index is trading higher by 127.66 points or 3.79% at 3,493.76. Gainers from this pack are Phoenix Mill trading up by 5.91% at Rs106.65 in line with DLF by 5.68% at Rs344.05, Anant Raj In by5% at Rs103.95, Orbitco by 5% at Rs170.25, Sobha Developers by 4.99% at Rs214.70, Parsvnath by 4.95% at Rs87.95, Unitech by 4.61% at Rs86.15, HDIL by 4.68% at Rs263.90 and Akruti City by 3.2% at Rs530.10.

The most active shares on NSE are Suzlon Energy trading at Rs 119.35 with a total traded quantity of 60434274 shares followed by Unitech trading at Rs.86.15 with a total traded quantity of 55443938 shares.

Larsen &, Toubro Limited (L&T) is trading up by 1.97% at Rs1,643. The company has bagged six orders aggregating to Rs.1230 crore from the electrical projects in the domestic market.

This includes four orders valued at Rs. 1031 crore for transmission line & railway construction, and two orders worth Rs.199 crore for the construction of sub-stations.

These'' projects will be executed by Electrical & Gulf Projects Operating Company (E&GP OC) - part of L&T''''s Construction Division.

Jain Irrigation Systems Limited is trading higher by 1.86% at Rs628. The company has bagged large orders worth Rs. 158 crores (Rs.l580 million) from various Coca-Cola bottlers in India and overseas for supply of mango pulp for the 2009-2010 season.

This is increase of more than 85% compared to last season. This product will be produced in the current mango season but dispatched over next year or so.

Jain is also working very closely with farmers in Maharashtra, Gujarat, Karnataka and Andhra Pradesh on increasing Mango yields.

Jain''''s not only provide irrigation systems to small farmers but also provide agronomy support through its R & D farms located in Jalgaon, Udmelpeth and Chittoor.

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 (0.64%), (0.67%) and (0.57%) respectively.

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