Friday, July 17, 2009

Market Bring Together Reverse Through Firm Global Cues - July 17, 2009

Market after a gap up opening, the key benchmark indices are marching towards the northward direction on the back of strong cues from the global markets. Besides, stamp duty exemption on land acquisitions being proposed for SEZs could be another factor for the punters to take fresh positions on undervalued stocks.

On a stock specific move, PBA infrastructure is trading higher by 12% after it bagged orders worth Rs 70.80 crore from Mumbai Metropolitan Region Development Authority.

During the last hours'' trading session, almost all the secotral indices are trading on buoyant note. Among the BSE Sectoral indices buying interest has emerged across Atuo, TECk, IT and Realty stocks trading higher by 3.79%, 3.34%, 3.30% and 2.99% respectively.

Overall the market breadth is positive as 1,536 stocks are trading in green while 570 stocks are in red.

Tthe BSE Sensex up by 353.59 points at 14,603 while NSE Nifty surged by 105.2 points at 4,336.6.

Besides, the BSE Mid Cap and Small Cap are trading higher by 109.59 points and 120.83 points at 5,100.01 and 5,666.4 respectively.

Gainers from the BSE Sensex Pack are ICICI Bank up by (5.40%) to Rs. 732.55, along with Bharti Airtel by (4.91%) to Rs. 824.10, Tata Motors by (4.76%) to Rs. 310.30, Mahindra and Mahindra Limited by (4.66%) at Rs. 754.05, Reliance Infra by (4.29%) at Rs. 1,106, and TCS Limited by (4.08%) at Rs.437.60.

Gainers from the NSE Nifty Pack are ICICI Bank increased by (5.35%) at Rs. 731 along with Siemens Limited by (5.09%) at Rs. 445.1, Tata Motors by (4.99%) at Rs. 311.5, Bharti Airtel by (4.98%) at Rs. 823.95, Mahindra and Mahindra Limited by (4.77%) at Rs. 754.9 and Hero Honda Motors by (4.60%) at Rs. 1,608.6.

BSE Auto is trading higher by (3.79%) or 182.94 points at 5003.94. The top gainers are Exide Industries surged by (8.64%) at Rs. 76.70 along with Apollo Tyre by (6.70%) to Rs. 35.85, Amtek Auto by (4.90%) at Rs. 97.50, Tata Motors by (4.76%) at Rs. 310.3 followed by Mahindra and Mahindra Limited by (4.66%) at Rs. 754.05.

BSE TECk is trading higher by (3.34%) or 86.99 points at 2,692.13. The top gainers in the index are Deccan Chr surged by (7.92%) to Rs. 72.20 along with Mphasis Limited by (6.73%) to Rs. 390, NIIT Limited by (5.55%) to Rs. 58, Bharti Airtel by (4.91%) to Rs. 824.10 followed by Financial Tech by (4.91%) to Rs. 1,337.30.

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