Market after a strong start, the key benchmark indices nudged higher on revival of annual monsoon this month and firm global market publicized sentiments. Further, the Indian government raged up its borrowing plan by nearly a quarter for the fiscal first half to September 2009 to bridge its growing budget deficit.
Way forward, the government would borrow an additional Rs 1,10,000 crore ($22.6 billion) from next week up to 30 September 2009 which mean it would have completed around 66% of its full-year record borrowing target of Rs 4,51,000 crore in the first half.
On the sectoral front, all indices gained. Oil exploration stocks gained despite crude oil fell in New Youk, as the US dollar gained against euro, restricting the appeal of commodities as an investment.
IT stock gained momentum on hopes of a revival in US economy. Bank stocks advanced after the Finance Minister said early this week that the government is committed to financial sector reforms.
Shipping stocks improved as the Baltic Dry Index, a measure of shipping costs for commodity surged 5.3% in London overnight.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,586 stocks traded so far, 1,738 shares advanced while 743 shares declined. Nearly 105 shares are unchanged.
Tthe BSE Sensex is trading higher by 430.46 points at 14,680.71 whereas NSE Nifty is up by 129.50 points at 4,360.90.
The BSE Mid Cap is trading higher by 104.71 points at 5,095.13 and Small cap is trading up by 124.59 points at 5,670.15.
Major gainers from the BSE Sensex pack are Tata Motors Limited surged 6.97% to Rs. 316.85 along with Mahindra & Mahindra Limited 6.32% to Rs. 766.00, ICICI Bank Limited spurted 5.04% to Rs. 730.05, Bharti Airtel Limited improved 5.02% to Rs. 825.00, Jaiprakash Associates Limited advanced 4.78% to Rs. 208.05, TCS Limited improved 4.77% to Rs. 440.50 and DLF Limited gained 4.76% to Rs. 332.05 among others.
Losers from the BSE Sensex Pack are Sun Pharmaceuticals Limited plunged 0.55% to Rs. 1,210.00 along with Sterlite Industries (India) Limited plunged 0.45% to Rs. 587.50, Hindustan Uniliver Limited 0.30% to Rs. 266.00 and ACC Limited slipped 0.02% to Rs. 796.80.
The BSE Auto is higher by 213.94 points or 4.44% at 5,034.94. Stocks trading in green are Exide Industries Limited surged 9.63% to Rs. 77.40, Tata Motors Limited 6.97% to Rs. 316.85, Amtek Auto Limited 6.78% to Rs. 99.25, Mahindra & Mahindra Limited improved 6.33% to Rs. 766.10 and Hero Honda Motors Limited 4.73% to Rs. 1,611.00 among others.
Exide Industries Limited zoomed 9.63% to Rs. 77.40 after net profit increased phenomenally 48.9% to Rs 122.40 crore in Q1 June 2009 as against Q1 June 2008.
Anu''s Laboratories Limited jumped 6.94% to Rs. 30.05 after the company fixed 27 July 2009 as the record date for a liberal 1:1 bonus issue.
Larsen & Toubro Limited gained 2.69% to Rs. 1,415.10 as the company said it is hopeful to maintain its guidance of 25% growth in order book in the current fiscal.
Zee Entertainment Enterprises Limited advanced 3.15% to Rs. 186.50 after it posted better-than-expected results on the back of aggressive cost cutting measures.
PBA Infrastructure Limited spurted 12.49% to Rs. 58.10 after the company bagged fresh orders aggregating Rs 70.80 crore.
Sterlite Industries (India) Limited plunged 0.45% to Rs. 587.50, on concerns of equity dilution after the company raised $1.5 billion from an issue of American Depositary Shares
JK Tyre & Industries Limited spurted 10.72% to Rs. 89.85 after net profit increased in triple digit 101.3% to Rs 40.75 crore in Q1 June 2009 as against Q1 June 2008.
Way forward, the government would borrow an additional Rs 1,10,000 crore ($22.6 billion) from next week up to 30 September 2009 which mean it would have completed around 66% of its full-year record borrowing target of Rs 4,51,000 crore in the first half.
On the sectoral front, all indices gained. Oil exploration stocks gained despite crude oil fell in New Youk, as the US dollar gained against euro, restricting the appeal of commodities as an investment.
IT stock gained momentum on hopes of a revival in US economy. Bank stocks advanced after the Finance Minister said early this week that the government is committed to financial sector reforms.
Shipping stocks improved as the Baltic Dry Index, a measure of shipping costs for commodity surged 5.3% in London overnight.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,586 stocks traded so far, 1,738 shares advanced while 743 shares declined. Nearly 105 shares are unchanged.
Tthe BSE Sensex is trading higher by 430.46 points at 14,680.71 whereas NSE Nifty is up by 129.50 points at 4,360.90.
The BSE Mid Cap is trading higher by 104.71 points at 5,095.13 and Small cap is trading up by 124.59 points at 5,670.15.
Major gainers from the BSE Sensex pack are Tata Motors Limited surged 6.97% to Rs. 316.85 along with Mahindra & Mahindra Limited 6.32% to Rs. 766.00, ICICI Bank Limited spurted 5.04% to Rs. 730.05, Bharti Airtel Limited improved 5.02% to Rs. 825.00, Jaiprakash Associates Limited advanced 4.78% to Rs. 208.05, TCS Limited improved 4.77% to Rs. 440.50 and DLF Limited gained 4.76% to Rs. 332.05 among others.
Losers from the BSE Sensex Pack are Sun Pharmaceuticals Limited plunged 0.55% to Rs. 1,210.00 along with Sterlite Industries (India) Limited plunged 0.45% to Rs. 587.50, Hindustan Uniliver Limited 0.30% to Rs. 266.00 and ACC Limited slipped 0.02% to Rs. 796.80.
The BSE Auto is higher by 213.94 points or 4.44% at 5,034.94. Stocks trading in green are Exide Industries Limited surged 9.63% to Rs. 77.40, Tata Motors Limited 6.97% to Rs. 316.85, Amtek Auto Limited 6.78% to Rs. 99.25, Mahindra & Mahindra Limited improved 6.33% to Rs. 766.10 and Hero Honda Motors Limited 4.73% to Rs. 1,611.00 among others.
Exide Industries Limited zoomed 9.63% to Rs. 77.40 after net profit increased phenomenally 48.9% to Rs 122.40 crore in Q1 June 2009 as against Q1 June 2008.
Anu''s Laboratories Limited jumped 6.94% to Rs. 30.05 after the company fixed 27 July 2009 as the record date for a liberal 1:1 bonus issue.
Larsen & Toubro Limited gained 2.69% to Rs. 1,415.10 as the company said it is hopeful to maintain its guidance of 25% growth in order book in the current fiscal.
Zee Entertainment Enterprises Limited advanced 3.15% to Rs. 186.50 after it posted better-than-expected results on the back of aggressive cost cutting measures.
PBA Infrastructure Limited spurted 12.49% to Rs. 58.10 after the company bagged fresh orders aggregating Rs 70.80 crore.
Sterlite Industries (India) Limited plunged 0.45% to Rs. 587.50, on concerns of equity dilution after the company raised $1.5 billion from an issue of American Depositary Shares
JK Tyre & Industries Limited spurted 10.72% to Rs. 89.85 after net profit increased in triple digit 101.3% to Rs 40.75 crore in Q1 June 2009 as against Q1 June 2008.
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