Market Extends Its Gains - Aug 01 , 2008

Markets extends its gains further after recovering from its earlier losses. Markets have staged a smart bounce back due to selective buying over the ground mainly in Metal, Capital, Goods, Oil & Gas and IT stocks. However, Auto and FMCG stocks are out of favour as witnessing most of selling from these baskets. Among the Sensex pack, 23 stocks are trading in green while 7 are in red.

At 1.30PM, the BSE Sensex is trading higher by 186.64 points at 14,542.40 and NSE Nifty is up by 48.30 points at 4,381.25.

The BSE Mid Cap is trading up by 43.89 points at 5,611.27 and Small Cap is higher by 45.03 points at 6,957.82.

Gainers from the BSE are JP Associates trading higher by (5.42%) at Rs165.35 in line with Reliance by (3.56%) at Rs2,284.80, Tata Steel by (3.48%) at Rs677.75, Infosys Tech by (3.45%) at Rs1,638.00, BHEL by (3.36%) at Rs1,735.50, HDFC by (3.31%) at Rs2,352.00 and Reliance Infra by (2.78%) at Rs992.00.

The BSE Metal index is trading up by 358.55 points at 13,271.16. Scrips that are trading higher are JSW SL (7.50%) at Rs789.50 followed by Jindal Saw by (6.96%) at Rs547.00, NMDC Ltd by (4.99%) at Rs346.09, Ispat Indus by (4.41%) at Rs27.20 and Tata Steel by (3.47%) at Rs629.00.

The BSE Capital Goods index is trading up by 314.09 points at 11,997.89. As Punj Lloyd is trading higher by (4.98%) at Rs282.90 followed by Suzlon Energy by (4.85%) at Rs233.60, BHEL by (3.56%) at Rs1,738.90, Crompton Greaves by (3.55%) at Rs245.00 and Siemens Ltd by (2.75%) at Rs561.80.

The BSE Auto index is trading lower by 23.63 points at 2,116.25 as Maruti Suzuki trading down by (2.96%) at Rs557.90 along with Bajaj Auto by (2.64%) at Rs517.00, Amtek Auto L (1.42%) at Rs204.50, Hero Honda Motors by (1.19%) at Rs795.10 and Apollo Tyre by (1.15%) at Rs30.00.

From the telecommunication sector, Tata Com Ltd is trading higher by (2.07%) at Rs460.00 followed by Idea Cellular is up by (1.65%) at Rs89.50 and Bharti Airtel up by (0.45%) at Rs802.30, while Reliance Com Ltd is down by (12.15%) at Rs439.80.

In auto sector Maruti Suzuki is trading lower by (3.26%) at Rs556.90 along with Tata Motors down by (1.03%) at Rs399.35, Hero Honda Motors by (0.99%) at Rs795.90 and M&M Ltd by (0.91%) at Rs518.00.

In cement sector Ambuja Cement is trading up by (1.72%) at Rs82.85 while Grasim Indus is trading lower by (0.56%) at Rs1,797.05 followed by ACC Ltd is down by (0.07%) at Rs583.00.

Sensex Recovers After A Setback; IT Stocks Move Up @ 11:28 Hrs

Following a moderately severe bout of selling pressure, a few blue chip stocks declined sharply into the red and reflecting the erosion in values, the benchmark BSE index Sensex too gave up its gains and dropped down into the negative territory in mid morning trade today.

However, thanks to strong support at lower levels, a few front line stocks have regained a significant portion of lost ground now and the Sensex, which had tumbled to 17,334.37, has now recovered to 17,453.84, netting a sharp gain of 75.38 points or 0.43%. The Nifty has moved up 0.5% or 26 points to 5221.50.

ONGC, HDFC, Hindalco, HDFC Bank and ACC have lost between 1% and 1.5% on selling pressure. Tata Steel, Reliance Energy, Reliance Industries, ICICI Bank, Ranbaxy Laboratories and Grasim Industries have lost 0.5% - 1%. DLF, which opened on a bright note, has slipped into the negative zone to Rs 723.55, netting a loss of 0.3%.

Ambuja Cements, Cipla, Hindustan Unilever, Larsen & Toubro and State Bank of India have lost most of their gains and are up just marginally over their previous closing levels now.

IT majors Infosys Technologies (0.9%), Wipro (0.6%), Tata Consultancy Services (1.6%) and Satyam Computer Services (0.9%) have moved up sharply on firm buying support.

Tata Motors has rallied sharply to Rs 662.50, up 3.55% over its previous closing prices. Maruti Suzuki and Mahindra & Mahindra are up by 1.8% at Rs 744.50 and Rs 654.15 respectively. Among other stocks from the Auto index, Exide Industries, TVS Motor, Escorts, Apollo Tyre, MRF and Ashok Leyland have posted sharp to moderate gains.

Reliance Communications, NTPC, Jaiprakash Associates, ITC, BHEL and Bharti Airtel are also up with sharp gains.

Mkts: Satyam Jumps 6.5%; Sensex Up 231 Pts @ 12:03 Hrs

IT stocks, buoyed up by strong results from Infosys Technologies and HCL Technologies, are having a grand outing once again and mirroring the impressive show by key stocks from the sector, the BSE IT has now moved up by as much as 5.15%.

With key stocks from metal, realty, oil and banking sectors too posting sharp gains, the market remains high up in the positive territory around noon. Mid and small-cap stocks are also seen attracting strong buying enquiries. The market breadth remains highly positive with gainers outscoring losers by nearly 4 to 1 on BSE.

The Sensex, which showed some signs of fatigue and dropped down to around 16,240 in mid-morning trade, has resumed its journey up north again and is up with a sparkling gain of 231.08 points or 1.43% at 16,384.74 at present.

The National Stock Exchange's 50-stock Nifty index is up 1.11% or 54.15 points over its previous closing mark, at 4933.80.

After Infosys Technologies and Tata Consultancy Services' bull run yesterday, it is now the turn of Satyam Computer Services to hog the limelight in the IT space. At Rs 481.35, Satyam Computer Services is up by 6.5%. Infosys Technologies has gained 6.25% at Rs 1605. Wipro and Tata Consultancy Services have moved up by 3.1% and 2.05% respectively.

Reliance Energy has gained 3.3%. Hindalco is up by around 2.35%. Reliance Communications, Reliance Industries, DLF, Ranbaxy Laboratories, Tata Steel, ICICI Bank, Larsen & Toubro, State Bank of India and Bharti Airtel are also up with sharp gains. ITC, NTPC, Grasim Industries and Maruti Suzuki have chipped in with modest gains.

Bombay Dyeing, the biggest gainer among BSE 'A' Group stocks, is up by 13.3% at Rs 781.85. HCL Technologies has recorded a gain of 7.15% at Rs 263.30. Lanco Infratech, IVRCL Infrastructure, Rolta India, Jai Corp, MMTC, Reliance Industrial Infrastructure, HMT, Rashtriya Chemicals & Fertilizers, Bharat Electronics, Bhushan Steel, Sintex Industries, Tech Mahindra, Century Textiles, Aban Offshore and Sesa Goa are also up with impressive gains.