Friday, July 24, 2009

Markets Decomposed The Maintenance Low - July 24, 2009

The markets managed to gained further grounds from the day’s low and are now trading in positive territory as buying emerged across the board barring the Banking index. The Auto and Realty index today outperformed the benchmark indices as they are now trading with a gain of more than 4% and 3.5% respectively.

Further, the Metal, Consumer Durables and IT stocks are also witnessing strong buying interest. The broader market indices are also attracting significant attention today as both the BSE Mid Cap and Small cap indices are now trading with an gain of more than 1.5% each.

The BSE Sensex is now trading above the 15,400 mark and the NSE Nifty above the 4,550 mark.

The overall market breadth is positive as 1727 stocks are advancing while 882 stocks are declining in BSE.

Tata Motors reported the top gainer from the BSE Sensex pack, as it is trading up by (9.44%) at Rs. 372.55 while HDFC reported the top loser trading down by (1.64%) at Rs. 2,412.25.

The BSE Sensex is trading up by 162.94 points at 15,393.98 and the NSE Nifty is trading higher by 48.10 points at 4,571.85.

The BSE Mid Cap increased by 95.47 points to 5,388.84 and the BSE Small Cap grew by 101.48 points to 6,044.33.

The Auto index is trading with gains of 264.66 points or 5.02% at 5,538.89. Leading from the gainers pack are Bharat Forge trading up by 11.46% at Rs. 177.55 along with Tata Motors by 9.36% at Rs. 372.25, MRF by 6.74% at Rs. 3750, Exide Inds by 6.64% at Rs. 80.25, Maruti Suzuki by 6.13% at Rs. 1375 and Escorts Limited by 4.25% at Rs. 65.

The Realty index is trading higher by 139.60 points or 3.84% at 3,775.29. Gainers from this pack are Ansal Infra trading up by 10.03% at Rs. 62 followed by Parsvnath by 9.06% at Rs. 113.15, Phoenix Mill by 7.25% at Rs. 107.30 and Omaxe by 5.62% at Rs. 100.60.

The most active shares on NSE are Suzlon Energy trading at Rs. 102 with a total traded quantity of 75003228 shares followed by Satyam Computers trading at Rs. 105.10 with a total traded quantity of 73663434 shares.

Bharat Forge Limited is trading up by 11.83% at Rs. 178.15 despite the company has posted a net profit of Rs 9.60 million for the quarter ended June 30, 2009 as compared to Rs 265.60 million for the quarter ended June 30, 2008.

Total Income has decreased from Rs 6494.50 million for the quarter ended June 30, 2008 to Rs 3638.20 million for the quarter ended June 30, 2009.

On the global markets front, the European markets are now trading higher as the FTSE 100, DAX and CAC index are trading up by (0.56%), (0.72%) and (0.49%) respectively.

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