Tuesday, August 11, 2009

Smart recovery from day’s low

After a negative opening, the benchmark indices took a U-turn and trading with fair gains. However, the mood remains extremely cautious with a negative bias at present due to lack of significant triggers. On a stock specific move, Petronet LNG is trading higher by nearly 3% after it signed a multi-billion dollar agreement with ExxonMobil to source 1.5 million tones per year of gas for 20 years from a field the US major''s Australian subsidiary is developing in partnership with Chevron. During the last hours'' trading session, buying interest has emerged across all the sectors. Among the BSE Sectoral indices buying interest has seen across Auto, Consumer Durable (CD) and Oil & Gas stocks trading higher by 2.93%, 2.10% and 1.82% respectively. Overall the market breadth is positive as 1,196 stocks are trading in green while 872 stocks are in red.

At 11.30 AM, the BSE Sensex is up by 115.61 points at 15,125.39 while NSE Nifty inclined by 36.04 points at 4,473.7. Besides, the BSE Mid Cap and Small Cap is trading higher by 56.24 points and 61.35 points at 5,396.72 and 6,134.38 respectively.

Gainers from the BSE Sensex Pack are Mahindra and Mahindra up by (5%) to Rs. 796, along with Tata Motors by (4.88%) to Rs. 420.5, Maruti Suzuki by (3.89%) to Rs. 1,300.05, Hero Honda by (2.74%) at Rs. 1,464, Reliance by (2.55%) at Rs.2,037.10 and Bharti Airtel by (2.12%) at Rs. 382.10.

Gainers from the NSE Nifty Pack are Mahindra and Mahindra increased by (5.01%) at Rs. 798.2 along with Maruti Suzuki by (4.37%) at Rs. 1,303.05, Ranbaxy Lab by (4.22%) at Rs. 273, Tata Motors by (3.92%) at Rs. 419.7, Suzlon Energy by (3.02%) at Rs. 83.65 and Jinal Steel and Power by (2.78%) at Rs. 2,775.

BSE Auto is trading higher by (2.93%) or 152.50 points at 5,362.77. The top gainers are Mahindra and Mahindra surged by (5%) at Rs. 796 along with Tata Motors by (4.88%) to Rs. 420.5, Cummins Ind by (4.55%) at Rs. 306.60, Maruti Suzuki Ltd by (3.89%) at Rs. 1,300.05 followed by Ashok Ley by (3.06%) at Rs. 33.65.

BSE CD is trading higher by (2.10%) or 62.42 points at 3,030.73 The top gainers in the index are Videocon Ind surged by (3.87%) to Rs. 193.15 along with Rajesh Exports by (3.10%) to Rs. 41.55, Titan Industries by (2.39%) to Rs. 1,180, Gitanjali GE by (1.40%) to Rs. 104.80 followed by Blue Star by (1.38%) to Rs. 357.

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