Tuesday, August 11, 2009

Indian Stock Market Commentary Headline : Mid Session Market

The markets bounced back from the early lows and are now trading higher as traders started buying shares at lower levels. Further smart buying among the Asian markets also boosted the sentiments. All the sectorial indices are trading in green in the afternoon trade. The significant buying witnessed among the Auto, Realty, Consumer Durables, Oil & Gas and Metal stocks. The broader market indices are also attracting significant buying attention today with both the BSE Mid Cap and the BSE Small Cap index are now trading with a gain of more than 1% each. The BSE Sensex is now trading above the 15100 mark and the NSE Nifty above the 4450 mark.

Tata Motors reported the top gainer from the BSE Sensex pack, as it is trading higher by (5.74%) at Rs.423.95 While NTPC reported the top loser from the BSE Sensex pack, as it is trading down by (0.88%) at Rs.208.75.

The overall market breadth is positive as 1358 stocks are advancing while 995 stocks are declining and the 87 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,135.70 up by 125.93 points and the NSE Nifty was at 4,481.90 up by 44.25 points.

The BSE Mid cap is trading higher by 64.18 points at 5,404.66 and the BSE small Cap grew by 67.49 points to trade at 6,140.52.

BSE Realty index grew by 71.67 points to 3,687.48 as Penland Ltd. (7.71%), Phoenix Mill (5.63%), Ansal Infra (5.62%), Mahindra Life (3.94%), Anant Raj Industries (3.04%) and HDIL (3.73%) are trading higher.

BSE Capital Goods index advanced by 51.67 points to 11,961.58. The main gainers are Jyoti Structure (3.70%), Crompton Greaves (3.47%), Punj Lloyd (3.07%), Praj Industries (2.39%) and Alstom Project (1.95%).

BSE Bankex index is trading higher by 49.15 points at 8,054.14. The main gainers are PNB (2.22%), Kotak Bank (2.20%), IDBI Bank (1.65%), AXIS Bank (1.32%), SBI (1.47%), Bank of Baroda (1.19%) and Yes Bank (1.14%).

BSE Oil & Gas index surged by 176.28 points to 9,693.72 as Gail India (3.06%), Aban Offshore (2.91%), Reliance Industries (2.54%), RPL (2.51%), Essar oil (1.87%) and RNRL (1.83%) are trading in positive.

BSE Auto index is trading higher by 177.98 points at 5,388.25. The major gainers are Tata Motors (5.62%), Cummins India (4.89%), Mahindra & Mahindra (4.80%), Bajaj Auto (3.76%), Maruti Suzuki (3.51%) and Ashok Leyland (2.60%).

BSE Metal index advanced by 189.22 points to 12,254.12 as Jindal Steel (4.60%), JSW Steel (2.70%), Welsoun Gujarat Stahl (2.59%), Jindal Saw (2.36%), Gujarat NRE (1.79%), Ispat Industries (1.64%) and Jai Corp (1.53%) are trading higher.

BSE IT index increased by 18.82 points to trade at 4,041.25 as Tech Mahindra (5.16%), NIIT Ltd. (2.65%), Oracle Fin (2.18%), Rolta Ind (1.95%), TCS (1.61%) and HCL Technologies (1.51%) are trading in green.

BSE Power index inclined by 26.76 points to 2,848.35 as Suzlon Energy (4.13%), Torent Power (5.82%), Tata Power (1.79%), GVK Power (0.92%) and Power Grid (0.77%) are trading higher.

On the global markets front, the Asian markets are trading higher as the Hang Seng, Nikkei 225, Shanghai Composite, Straits Times and Seoul Composite index are trading up by (0.24%), (0.58%), (0.31%), (1.78%) and (0.20%) respectively. The Bank of Japan on Tuesday has kept the benchmark interest rate steady at 0.1% as expected.

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