After a robust opening, the key benchmark indices gusted northward, led by gains mainly in Realty, Metal and Capital Goods stocks. Firm global stocks and strong industrial production (IIP) boosted investor’s sentiments. India''s industrial output expanded 7.8% in June 2009, at the fastest pace in 16 months which may offset the impact of deficient rains. The draft direct tax code which proposes to reduce tax rates on individual and corporate and scrapping of the Securities Transaction Tax (STT) also blossom sentiments across the board.
On the sectoral front, all indices gained. Oil exploration stocks gained as crude oil futures ended higher overnight. Auto stocks rebounded on bargain hunting after a recent steep fall. Power stocks advanced as the NHPC IPO received robust investor response. Metal stocks gained after LMEX, a gauge of six metals traded on the LME rose 2.38% overnight.
The Market breadth, indicating the overall strength of the market, was strong On BSE, out of 2,621 stocks traded so far, 2,067 shares advanced while 473 shares declined. Nearly 81 shares are unchanged.
At 1.21PM, the BSE Sensex is trading higher by 396.47 points at 15,416.63 whereas NSE Nifty is up by 117.15 points at 4,574.65.
The BSE Mid Cap is trading higher by 166.15 points at 5,580.68 and Small cap is trading up by 221.95 points at 6,356.88.
Major gainers from the BSE Sensex pack are ICICI Bank Ltd by 4.68% to Rs. 743.80 along with, Hindalco Industries Ltd surged 4.35% to Rs. 108.00, DLF Ltd by 4.17% to Rs. 388.65, Maruti Suzuki India Ltd by 4.13% to Rs. 1,344.20, Sterlite Industries Ltd by 3.95% to Rs. 648.50, Tata Steel Ltd 3.92% to Rs. 461.10, Hero Honda Motors Ltd by 3.58% to Rs. 1,490.00, State Bank of India Ltd by 355% to Rs. 1,762.85, Jaiprakash Associates by 3.55% to Rs. 221.80, Larsen & Toubro Ltd by 3.54% to Rs. 1,472.20 and ITC Ltd by 2.97% to Rs. 234.00 among others.
The BSE Realty is higher by 187.82 points or 4.98% at 3,960.41. Stocks spurted are Penland Ltd 9.46% to Rs. 82.75, Housing Development 6.84% to Rs. 295.85, Mahindra LifeScience Ltd 5.43% to Rs. 322.50, Unitech Ltd 5.38% to Rs. 93.10, Parsvnath Ltd by 5.07% to Rs. 115.00, Indiabulls Realty Ltd by 4.96% to Rs. 242.45 and DLF Ltd 4.17% to Rs. 388.65 among others.
Prime Securities Ltd zoomed 3.77% to Rs. 30.30 after it cancelled six lakh convertible warrants as none of the holders exercised the option to convert these warrants into equity shares of the company.
Mastek Ltd spurted 3.55% to Rs. 268.35 after the company launched a platform for life insurance carriers for India and Asia Pacific markets.
Rallis India Ltd zoomed 5.58% to Rs. 778.10 after the board of directors of Tata Chemicals approved buying up to 35.80% stake in the company for not more than Rs 850 per share from other group firms.
Everonn Systems India Ltd gusted 6.08% to Rs. 368.00 after the company secured a contract worth Rs. 91.87 crore.
National Aluminium Company Ltd spurted 3.89% to Rs. 319.50 after the company raised aluminium prices for the second time this month following a rise in international prices of the metal.
Adlabs Films Ltd jumped 3.82% to Rs. 326.00 after its board approved raising funds upto Rs. 600 crore by issuing equity shares on rights basis.
On the sectoral front, all indices gained. Oil exploration stocks gained as crude oil futures ended higher overnight. Auto stocks rebounded on bargain hunting after a recent steep fall. Power stocks advanced as the NHPC IPO received robust investor response. Metal stocks gained after LMEX, a gauge of six metals traded on the LME rose 2.38% overnight.
The Market breadth, indicating the overall strength of the market, was strong On BSE, out of 2,621 stocks traded so far, 2,067 shares advanced while 473 shares declined. Nearly 81 shares are unchanged.
At 1.21PM, the BSE Sensex is trading higher by 396.47 points at 15,416.63 whereas NSE Nifty is up by 117.15 points at 4,574.65.
The BSE Mid Cap is trading higher by 166.15 points at 5,580.68 and Small cap is trading up by 221.95 points at 6,356.88.
Major gainers from the BSE Sensex pack are ICICI Bank Ltd by 4.68% to Rs. 743.80 along with, Hindalco Industries Ltd surged 4.35% to Rs. 108.00, DLF Ltd by 4.17% to Rs. 388.65, Maruti Suzuki India Ltd by 4.13% to Rs. 1,344.20, Sterlite Industries Ltd by 3.95% to Rs. 648.50, Tata Steel Ltd 3.92% to Rs. 461.10, Hero Honda Motors Ltd by 3.58% to Rs. 1,490.00, State Bank of India Ltd by 355% to Rs. 1,762.85, Jaiprakash Associates by 3.55% to Rs. 221.80, Larsen & Toubro Ltd by 3.54% to Rs. 1,472.20 and ITC Ltd by 2.97% to Rs. 234.00 among others.
The BSE Realty is higher by 187.82 points or 4.98% at 3,960.41. Stocks spurted are Penland Ltd 9.46% to Rs. 82.75, Housing Development 6.84% to Rs. 295.85, Mahindra LifeScience Ltd 5.43% to Rs. 322.50, Unitech Ltd 5.38% to Rs. 93.10, Parsvnath Ltd by 5.07% to Rs. 115.00, Indiabulls Realty Ltd by 4.96% to Rs. 242.45 and DLF Ltd 4.17% to Rs. 388.65 among others.
Prime Securities Ltd zoomed 3.77% to Rs. 30.30 after it cancelled six lakh convertible warrants as none of the holders exercised the option to convert these warrants into equity shares of the company.
Mastek Ltd spurted 3.55% to Rs. 268.35 after the company launched a platform for life insurance carriers for India and Asia Pacific markets.
Rallis India Ltd zoomed 5.58% to Rs. 778.10 after the board of directors of Tata Chemicals approved buying up to 35.80% stake in the company for not more than Rs 850 per share from other group firms.
Everonn Systems India Ltd gusted 6.08% to Rs. 368.00 after the company secured a contract worth Rs. 91.87 crore.
National Aluminium Company Ltd spurted 3.89% to Rs. 319.50 after the company raised aluminium prices for the second time this month following a rise in international prices of the metal.
Adlabs Films Ltd jumped 3.82% to Rs. 326.00 after its board approved raising funds upto Rs. 600 crore by issuing equity shares on rights basis.
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