Friday, July 3, 2009

Markets Are Trading At Day High - July 03, 2009

The markets gained further grounds and are now trading at the day’s high after railway Minister presented the populist railway budget. The significant buying witnessed among the Banking, Power, Pharma, Capital Goods and Metal stocks. However, IT and FMCG stocks are still trading lower.

The BSE Sensex is now trading above the 14,800 mark while the NSE Nifty near the 4,400 mark.

The overall market breadth is negative as 1161 stocks are advancing while 1333 stocks are declining in BSE.

HDFC reported the top gainer from the BSE Sensex pack, as it is trading up by (5.60%) at Rs. 2,535 while Hero Honda reported the top loser trading down by (1.63%) at Rs. 1,362.

The BSE Sensex is trading up by 164.36 points at 14,822.85 and the NSE Nifty is trading higher by 50.65 points at 4,399.50.

The BSE Mid Cap increased by 40.92 points to 5,185.19 and the BSE Small Cap grew by 15.03 points to 5,815.27.

The Health Care index is trading with gains by 57.84 points or 1.61% at 3,648.08. Gainers from this pack are Glenmark Pharma trading up by 7.90% at Rs236.20 along with Ranbaxy Labs by 4.24% at Rs252.25, Aurobindo Pharma by 3.94% at Rs504, Cipla by 3.52% at Rs257.25, Lupin Limited by 2.57% at Rs852.05, Biocon by 1.62% at Rs223.35 and Dr. Reddy''s lab by 1.04% at Rs795.25.

The Bank index is trading higher by 137.66 points or 1.66% at 8,415.73. Leading from the gainers pack are ICICI Bank trading up by 2.88% at Rs752.80 in line with SBI by 2.54% to Rs1803.50, Punjab National Bank by 2.53% at Rs684.85, Oriental bank by 2.37% at Rs181.50, Axis bank by 1.98% at Rs870, Bank of India by 1.46% at Rs351.45 and Indian Overseas Bank by 1.38% at Rs88.40.

The most active shares on NSE are Suzlon Energy trading at Rs 106.30 with a total traded quantity of 34209073 shares followed by RNRL Energy trading at Rs.90.10 with a total traded quantity of 27965934 shares.

Sun Pharmaceutical Industries Limited. is trading lower by 0.17% at Rs1143.90. The company has announced receipt of a tentative approval from USFDA for Sun Pharma''''s Abbreviated New Drug Application (ANDA) for generic Optivar, azelastine ophthalmic solution, 0.05%.

Tnls sterile azelastine hydnochloride ophthalmic solution is therapeutically equivalent to Optivar Ophthalmic solution, 0.05% from Medpolnte Pharmaceuticals that has annual sales of approximately USD 48 million.

On the global markets front, the European markets are now trading mixed as the FTSE 100 is trading up by (0.06%) while DAX and CAC 40 index are trading down by (0.07%) and (0.30%) respectively.

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