Market after positive gap opening, the key benchmark indices are now trading range bound as investors are little cautious after the disappointing budget. The market rebound a little on the back of positive movement in Asian equities. Lack of any aggressive economic reforms in the Union Budget 2009-2010 had lingered sharp slide on the Index Pivotals amid heavy volumes yesterday. Lack of financial sector reforms and a clear roadmap on divestment were other sources of dissatisfaction.
On the sectoral front, out of 13 Indices, 6 indices advanced whereas 7 indices declined. Oil stocks fell after crude oil prices plunged over 4% on the New York Mercantile Exchange overnight.
Metal stocks slipped as Finance Minister did not announced measures to safeguard the domestic industry against cheap imports in the budget.
IT Stocks gained as the Finance Minister extended reduction in respect of export profits under the Software Technologies Parks of India (STPI) scheme available under sections 10A and 10B of the income-tax Act till the fiscal year 2010-11.
FMCG stocks surged as the Finance Minister repeated the government''s thrust on the agriculture sector.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,449 stocks traded so far, 827 shares advanced while 1,543 shares declined. Nearly 79 shares are unchanged.
The BSE Sensex is trading higher by 55.98 points at 14,099.39 whereas NSE Nifty is up by 20.95 points at 4,186.65.
The BSE Mid Cap is trading lower by 21.17 points at 4,897.71 and Small cap is trading down by 69.60 points at 5,493.26.
Major gainers from the BSE Sensex pack are ITC Limited surged 6.42% to Rs. 210.50 along with Maruti Suzuki Limited 4.96% to Rs. 1,086.30, Grasim Industries Limited gained 4.95% to Rs. 2,411.00, Hero Honda Motors Limited improved 4.61% to Rs. 1,421.25, Mahindra & Mahindra Limited advanced 4.59% to Rs. 743.00, Jaiprakash Associates Limited jumped 3.57% to Rs. 200.00, ICICI Bank Limited gained 3.39% to Rs. 1,701.00., Larsen & Toubro Limited gained 2.74% to Rs. 1,504.10 and Bharti Airtel improved 2.68% to Rs. 804.60 among others.
Losers from the BSE Sensex Pack are Reliance Industries plunged 2.36% to Rs. 1,849.00 along with Tata Motors by 2.17% to Rs. 277.20, Reliance Communication Limited 2.12% to Rs. 263.70, ONGC Limited by 1.95% to Rs. 1,049.50, Hindalco Industries by 1.60% to Rs. 76.90, Tata Power Limited 1.33% to Rs. 1,087.00, NTPC Limited 1.03% to Rs. 192.00 and State Bank of India Limited slipped 0.80% to Rs. 1,641.70 among others.
The BSE FMCG is higher by 85.70 points or 3.71% at 2,398.19. Stocks trading in green are Marico Limited gained 8.55% to Rs. 77.45, ITC Limited 6.42% to Rs. 210.50, United Sprits 5.09% to Rs. 873.00, Godrej Cons by 3.65% to Rs. 169.00 and Britania In 3.00% to Rs. 1,618.00 among others.
Cairn India Limited shrunk 1.41% to Rs. 216.05 after crude oil prices plunged over 4% on the New York Mercantile Exchange overnight.
Maytas Infra Limited fell 1.59% to Rs. 64.80 despite the Karnataka state government awarded two Greenfield airport projects to the company.
Roman Tarmat Limited shouted up 6.95% to Rs. 39.25 after the company bagged an order worth Rs. 24.58 crore.
Ambuja Cements Limited gained 3.21% to Rs. 90.00 after a block deal of five lakh shares was executed on NSE at Rs 88.50 per share.
Reliance Industries Limited slump 2.34% to Rs. 1,849.30 after the government increased the rate of minimum alternate tax to 15% from 10%.
ITC Limited zoomed 6.42% to Rs. 210.50 after the government left taxes on cigarettes untouched in the Union Budget 2009-2010.
On the sectoral front, out of 13 Indices, 6 indices advanced whereas 7 indices declined. Oil stocks fell after crude oil prices plunged over 4% on the New York Mercantile Exchange overnight.
Metal stocks slipped as Finance Minister did not announced measures to safeguard the domestic industry against cheap imports in the budget.
IT Stocks gained as the Finance Minister extended reduction in respect of export profits under the Software Technologies Parks of India (STPI) scheme available under sections 10A and 10B of the income-tax Act till the fiscal year 2010-11.
FMCG stocks surged as the Finance Minister repeated the government''s thrust on the agriculture sector.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,449 stocks traded so far, 827 shares advanced while 1,543 shares declined. Nearly 79 shares are unchanged.
The BSE Sensex is trading higher by 55.98 points at 14,099.39 whereas NSE Nifty is up by 20.95 points at 4,186.65.
The BSE Mid Cap is trading lower by 21.17 points at 4,897.71 and Small cap is trading down by 69.60 points at 5,493.26.
Major gainers from the BSE Sensex pack are ITC Limited surged 6.42% to Rs. 210.50 along with Maruti Suzuki Limited 4.96% to Rs. 1,086.30, Grasim Industries Limited gained 4.95% to Rs. 2,411.00, Hero Honda Motors Limited improved 4.61% to Rs. 1,421.25, Mahindra & Mahindra Limited advanced 4.59% to Rs. 743.00, Jaiprakash Associates Limited jumped 3.57% to Rs. 200.00, ICICI Bank Limited gained 3.39% to Rs. 1,701.00., Larsen & Toubro Limited gained 2.74% to Rs. 1,504.10 and Bharti Airtel improved 2.68% to Rs. 804.60 among others.
Losers from the BSE Sensex Pack are Reliance Industries plunged 2.36% to Rs. 1,849.00 along with Tata Motors by 2.17% to Rs. 277.20, Reliance Communication Limited 2.12% to Rs. 263.70, ONGC Limited by 1.95% to Rs. 1,049.50, Hindalco Industries by 1.60% to Rs. 76.90, Tata Power Limited 1.33% to Rs. 1,087.00, NTPC Limited 1.03% to Rs. 192.00 and State Bank of India Limited slipped 0.80% to Rs. 1,641.70 among others.
The BSE FMCG is higher by 85.70 points or 3.71% at 2,398.19. Stocks trading in green are Marico Limited gained 8.55% to Rs. 77.45, ITC Limited 6.42% to Rs. 210.50, United Sprits 5.09% to Rs. 873.00, Godrej Cons by 3.65% to Rs. 169.00 and Britania In 3.00% to Rs. 1,618.00 among others.
Cairn India Limited shrunk 1.41% to Rs. 216.05 after crude oil prices plunged over 4% on the New York Mercantile Exchange overnight.
Maytas Infra Limited fell 1.59% to Rs. 64.80 despite the Karnataka state government awarded two Greenfield airport projects to the company.
Roman Tarmat Limited shouted up 6.95% to Rs. 39.25 after the company bagged an order worth Rs. 24.58 crore.
Ambuja Cements Limited gained 3.21% to Rs. 90.00 after a block deal of five lakh shares was executed on NSE at Rs 88.50 per share.
Reliance Industries Limited slump 2.34% to Rs. 1,849.30 after the government increased the rate of minimum alternate tax to 15% from 10%.
ITC Limited zoomed 6.42% to Rs. 210.50 after the government left taxes on cigarettes untouched in the Union Budget 2009-2010.
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