The market has gained further momentum. The strong buying is seen in the Metal, It and Realty stocks. The BSE Sensex is trading with a gain of more than 200 points and continued to stay above the physiological 17000 mark.
The overall market breadth turns negative as most profit booking is seen in the Mid Cap and Small Cap. Almost 1343 shares are advancing in comparison to 1348 shares that are declining. However the BSE Mid Cap decreased by 20.60 points to 7,332.02 while the Small Cap advanced by 35.91 points to 9,065.25.
At 2.31 PM BSE Sensex is at 17,140.49 up by 219.10 points while Nifty is at 4,976.55 up by 36.05 points. State Bank of India is trading higher by (1.14%) at Rs.1870 as the bank is aiming to disburse Rs 150 crore, through two property fairs. Last year, at similar fairs, the bank had approved loans to 3,800 people which amounted to Rs 500 crore, and the final disbursement stood at Rs 80 crore. This year the bank is expecting to approve more than Rs 500 crore and disburse Rs 150 crore, through home loans and car loans.
Tata Motors advanced by (0.81%) to trade at Rs.746. The automaker in order to prmote sales has taken an initiative i.e it will offer more cash discounts to counter a four-month sales slump, with interest rates in the South Asian nation at a five-year high.
The most active shares on NSE are Reliance Energy trading at Rs.1,105.70 with a total traded value of Rs.48060.23 lakhs followed by Reliance Ltd. trading at Rs.2329 with Rs.45166.46 lakhs.
The top gainer in the BSE Sensex is Reliance Energy surged by (8.48%) at Rs.1,113 followed by Infosys Technologies improved by (4.66%) to trade at Rs.1910.
BSE Metal index surged by 310.13 points to 13,395.77. The major gainers are Sterlite Industries (7.14%) at Rs.765, Tata Steel (2.90%) to Rs.772.65 followed by Jindal Stainless Steel (1.08%) at Rs.164.40. |
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