Monday, August 10, 2009

Markets opened significant higher and turned volatile.

The markets today opened significant higher on the back of strong cues from the US and Asian markets. The BSE Sensex has surpassed the 15400 mark and the NSE Nifty jumped above 4550 mark in the early trade. However the markets suddenly turned volatile and gave up most of their early gains and are now trading flat. The IT, Metal, Realty and Pharma stocks remained in focus in the early trade, while Auto and FMCG stocks are witnessing some selling pressure. The broader market indices are also trading marginally higher in the early trade.

The BSE Sensex is now trading below the 15200 mark and the NSE Nifty below the 4500 mark in the early trade.

At 10.32 IST, the BSE Sensex is trading up by 13.06 points or (0.09%) at 15,173.30 and the NSE Nifty is trading marginally higher by 1.55 points or (0.03%) at 4,482.95.

The BSE Mid Cap is trading higher by 14.26 points at 5,447.51 and the BSE Small Cap grew by 14.57 points or (0.24%) to 6,208.33.

TCS reported the top gainer from the BSE Sensex pack, as it is trading up by (4.10%) at Rs.529.10 while Bharti Airtel reported the top loser down by (3.27%) at Rs.371.25.

The Overall market breadth is positive as 1124 stocks are advancing while 527 stocks are declining and the 48 stocks remained unchanged on BSE.

The US stocks markets closed higher on Friday by logging impressive, broad-based gains for the week. Friday''s rally was broadly due to the better-than-expected jobs report. Financials propelled to fresh highs 2009 by logging a 2.7%gain led by AIG which was a primary leader in the financial sector after posting its first profit since 2007 and also its earnings exceeded expectations. The Dow Jones Industrial Average (DJIA) suregd by 113.81 points at 9,370.07, NASDAQ index grew by 27.09 points to 2,000.25 and the S&P 500 (SPX) advanced by 13.40 points to close at 1,010.48 points.

Asian markets were trading higher today as the Hang Seng, Nikkei 225 and Composite index are trading up by (2.21%), (0.87%) and (0.06%) respectively. Japanese machinery orders rose for the first time in four months in June as it grew by 9.7% from May.

BSE Realty index advanced by 82.43 points or (2.24%) at 3,759.38. The top gainers are Anant Raj Industries grew by (4.25%) to Rs.121.50, Mahindra Life inclined by (3.13%) to Rs.307.80, Parsavnath up by (2.35%) to Rs.120 followed by HDIL inclined by (1.96%) to Rs.258.10.

BSE Metal index grew by 228.56 points or (1.88%) at 12,370.27. The top gainers are Hindustan Zinc grew by (3.77%) to Rs.767, Sesa Goa inclined by (3.09%) to Rs.248.30, Hindalco Industries grew by (2.76%) to Rs.104.10 followed by NALCO up by (2.73%) to Rs.323.75.

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