Friday, July 10, 2009

Markets Are Unmoving Trading Higher - July 10, 2009

The markets gained further grounds and are still trading higher as buying emerged among the IT, Realty, Metal and Capital Goods stocks. The positive sentiments spurred after the IIP data came in better than expected. However, the selling pressure continued among the Oil & Gas and Pharma stocks. The BSE Sensex is now trading around the 13,800 mark and the NSE Nifty around the 4,100 mark.

The overall market breadth is positive as 1340 stocks are advancing while 1125 stocks are declining in BSE.

Wipro reported the top gainer from the BSE Sensex pack, as it is trading up by (4.33%) at Rs. 388.25 while Sun Pharma reported the top loser trading down by (2.70%) at Rs. 1,138.

The BSE Sensex is trading up by 33.36 points at 13,790.82 and the NSE Nifty is trading higher by 12.35 points at 4,093.40.

The BSE Mid Cap increased by 25.74 points to 4,836.53 and the BSE Small Cap grew by 28.32 points to 5,358.04.

The Realty index is trading with gains of 84.36 points at 2,991.14. Gainers from this pack are DLF trading up by 3.57% at Rs288.65 along with Parsvnath by 3.56% at Rs81.55, Indiabull Real by 3.45% at Rs193.30, Unitech by 2.08% at Rs71.30, Ananat Raj In by 1.82% at Rs97.75, Ansal Infra by 1.80% at Rs48.15 and Ackruti by 1.19% at Rs442.

The Metal index is trading higher by 245.99 points or 10,501.83. Leading the rally are Jai Corp trading up by 5.40% at Rs220.65 followed by Jindal Saw by 4.67% at Rs359.50, Sterlite Inds by 3.89% at Rs578.90, SAIL by 3.86% at Rs158.85, Gujarat NRE Coke by 3.26% at Rs39.60, Jindal Steel and Power by 2.90% at Rs2609 and JSW Steel by 2.88% at Rs542.40.

The most active shares on NSE are Unitech trading at Rs 70.90 with a total traded quantity of 67747915 shares followed by Suzlon Energy trading at Rs.88.40 with a total traded quantity of 47610848 shares.

McNally Bharat Engineering Company Limited is trading flat at Rs130.25. The company has received 2 orders for Design, Engineering, Manufacturing, Testing, Erection and Commissioning of Ash Handling System for 2X600 MW Mahan and Salaya Essar Power Projects for Rs 69 crores and Rs 24 Crores respectively.

The contractual period of completion for Mahan Essar Power Project is 16 months and for Salaya Essar Power Project is 14 months.

On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (0.28%), (0.10%) and (0.47%) respectively.

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