Markets off the day’s low

The stock markets managed to gain some grounds from the day’s low but are still trading lower. The sharp sell off among the Chinese markets has led to a strong fall in the domestic markets today. All the sectorial indices are trading in red mainly led by the Oil & Gas, Metal, Auto and IT stocks. The broader market indices however managed to recover from the lows and are now trading flat as the BSE Mid Cap index is now trading with a loss of around 0.5% while the BSE Small Cap is now trading in positive.

The BSE Sensex is now trading near the 14900 mark and the NSE Nifty above the 4400 mark in the afternoon trade.

The overall market breadth is negative as 1136 stocks are advancing while 1433 stocks are declining in BSE.

HDFC reported the top gainer from the BSE Sensex pack, as it is now trading higher by (1.85%) at Rs. 2,364.10. While ACC reported the top loser from the BSE Sensex pack, as it is trading down by (3.68%) at Rs.767.65.

At 2.31PM the BSE Sensex is trading lower by 137.68 points at 14,897.58 and the NSE Nifty is trading lower by 40.30 points at 4,418.60.

The BSE Mid Cap decreased by 19.90 points to 5,476.66 and the BSE Small Cap grew by 10.53 points to 6,351.98.

The Metal index is trading lower by 202.21 points or 1.66% at 12,039.21. Scrips that are trading in negative are Tata Steel trading down by 2.87% at Rs. 438.50 followed by Gujarat NRE Coke by 2.56% at Rs. 51.35, Sesa Goa by 2.35% at Rs. 220.35, Jai Corp by 1.71% at Rs. 206.70, JSW Steel by 1.60% at Rs. 698, Ispat Inds by 1.14% at Rs. 21.60.

The most active shares on NSE are Unitech trading at Rs. 82.90 with a total traded quantity of 50522446 shares followed by IFCI trading at Rs. 51.80 with a total traded quantity of 45396942 shares.

Housing Development Finance Corp (HDFC) is trading up by 2.07% at Rs. 2,369. The company plans to mobilize Rs 40 billion through two- and three-year bonds along with the issuing of 10.95 million warrants convertible into shares within three years where the dilution on conversion of all warrants would be 3.5%

PSL Ltd is trading up by 4.82% at Rs. 148. The company has secured an order valued approximately Rs 500 crore from Gail (India) Limited for supplying quality API 5L X-80 grade PSL-2 Pipes for their Dahej-Vijaipur Pipe Line Upgradation Project (DVPL-II).

Glenmark Pharmaceuticals is trading lower by 13.76% at Rs. 225.60. Glenmark Pharmaceuticals S.A. (Switzerland), a subsidiary of Glenmark Pharmaceuticals India (GPL) and Forest Laboratories, Inc announced top-line results from a Phase lib dose range finding study of Oglemilast in patients with Chronic Obstructive Pulmonary Disease (COPD). Once-daily treatment with Oglemilast did not show a statistically meaningful increase from baseline compared to placebo in the primary endpoint trough FEV1, a measure of pulmonary function that is decreased in patients with COPD. Oglemilast was well-tolerated at all doses studied.

On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (0.93%), (1.34%) and (0.86%) respectively.

Market shrunk on weak global cues

Stock Market plunged after swinging between the positive and negative terrain at the early trade of the trading session led by huge sell-off in Oil&Gas, Realty, Metals and Auto stocks, drifted the bourses towards southward journey. A sustained fall was reported as most of Asian stocks slipped into negative terrain. Scanty monsoon rains pushed India to the edge of drought, forcing pressure on food prices and energy supplies. Meanwhile, India''s merchandise exports soften for the 10th straight month in July 2009, but its balance-of-trade account improved as imports declined at a faster pace, according to the sources.

On the sectoral front, all indices declined. Oil exploration stocks slipped despite crude oil gained for the first time in three days overnight, on better-than-estimated earnings at Home Depot Inc. and Target Corp of US. Auto, Realty and Bank stocks fell on profit taking after recent gains on bargain hunting.

The Market breadth, indicating the overall strength of the market, was weak On BSE, out of 2,576 stocks traded so far, 903 shares advanced while 1,580 shares declined. Nearly 93 shares are unchanged.

At 1.22PM, the BSE Sensex is trading lower by 313.72 points at 14,721.53 whereas NSE Nifty is down by 91.69 points at 4,367.20.

The BSE Mid Cap is trading lower by 81.00 points at 5,415.55 and Small cap is trading down by 55.38 points at 6,286.06.

Major losers from the BSE Sensex Pack are Reliance Infrastructure Ltd plunged 4.20% to Rs. 1,088.00, ACC Ltd by 4.02% to Rs. 765.00, Tata Steel by 3.82% to Rs. 434.20, Grasim Industries Ltd by 3.59% to Rs. 2,481, Reliance Industries Ltd by 3.53% to Rs. 1,877.75, State Bank of India by 3.22% to Rs. 1,678, Reliance Communication Ltd by 3.10% to Rs. 243.45, Mahindra & Mahindra Ltd by 3.04% to Rs. 745, Jaiprakash Associates Ltd by 2.99% to Rs. 206 and Hero Honda Motors Ltd by 2.79% to Rs. 1,351.90.

Major gainers from the BSE Sensex pack are Housing Development Finance Co Ltd by 1.69% to Rs. 2,360.30 and Tata Power Ltd by 0.63% to Rs. 1,270.00.

The BSE Realty is lower by 81.50 points or 2.17% at 3,668.90. Stocks declined include Unitech Ltd 3.40% to Rs. 82.40, Anant Raj Industries 2.98% to Rs. 130.25, Orbitco Ltd by 2.97% to Rs. 168, Housing Development by 2.76% to Rs. 271.25, Penland Ltd 2.55% to Rs. 76.40, Ansal Infra Ltd 2.47% to Rs. 59.25, Parsvnath Ltd by 1.61% to Rs. 110.05 and DLF Ltd 1.43% to Rs. 369.80 among others.

Gujarat Industries Power Company Ltd fell 0.41% to Rs. 98.00 despite a block deal of five lakh shares was executed on NSE at Rs. 100 per share.

PSL Ltd advanced 0.78% to Rs. 142.30 after the company bagged an order worth Rs. 210 crore from GAIL.

Sintex Industries Ltd improved 0.40% to Rs. 198.35 after a block deal of 3.28 lakh shares was executed on BSE at Rs 200 per share.

Bharat Forge Ltd plunged 5.07% to Rs. 218.05 on profit booking after the stock rose 8.50% in the preceding trading session.

Rallis India Ltd gusted up 2.85% to Rs. 750.80 on buzz the Tata Group is considering merging Rallis India with Tata Chemicals.

Mid Session Indian stock Market Commentary

India stock market ended the session with handsome gains backed by significant buying that emerged after Asian markets reversed losses. Higher US index futures also added to sentiments. Market touched the day’s high during afternoon trade mirroring firm European markets though afterwards pared gains a bit. However, monsoon worries continued to remain a key concern as 9 States have declared drought. Meanwhile, Finance Minister Pranab Mukherjee said that government has no proposal to write off loans taken by farmers as it did in 2008 in its first term in office. Further, India’s July export is down 26% from a year earlier. The BSE Sensex ended above 15,000 level and NSE Nifty closed above 4,450 mark.

Market opened on flat note today after reporting heavy selling in previous session. The US stocks markets closed lower on Monday, marking the worst single-session percentage loss in six weeks due to huge selling pressure. Slower-than-expected economic growth in Japan prompted a global sell-off on worries that an economic rebound may be further off than previously considered. Investors were not exciting by the news that the empire state manufacturing index moved into positive territory, signaling growth for the first time since April 2008. Further, Indian benchmark indices bounced back, as investors looked for some bargain chasing after yesterday’s sharp fall. Market touched day’s high during afternoon trade in line with recovery in other Asian stocks along with positive European markets.

Finally, market closed on positive note on account of sustained buying. From the sectoral front, all indices ended in green. Among those, most of the buying was seen in Capital Goods, Realty, Metal, Power, PSU, Auto, Bank, and FMCG stocks. Broader markets also followed the same trend as BSE Midcap and Smallcap stocks gained more than 2% each.

Among the Sensex pack 26 stocks ended in green territory and 4 stocks ended in red territory. The market breadth indicating the overall health of the market remained positive as 1741 stocks closed in red while 896 stocks closed in green and 78 stocks remained unchanged in BSE.

The BSE Sensex closed higher by 250.34 points or (1.69%) at 15,035.26 and NSE Nifty ended up by 71 points or (1.62%) at 4,458.90. BSE Mid Caps and Small Caps closed with gains of 111.04 and 129.74 points at 5,496.55 and 6,341.45 respectively. The BSE Sensex touched intraday high of 15,134.51 and intraday low of 14,740.26.

Gainers from the BSE Sensex pack are Hindalco (6.08%), JP Associates (4.73%), L&T Ltd (4.66%), HUL (3.45%), Tata Steel (3.14%), HDFC (3.06%), DLF Ltd (2.95%), Mahindra & Mahindra Ltd (2.89%), Bharti Airtel (2.87%), BHEL (2.76%), HDFC Bank (2.39%), RCom (2.36%), ICICI Bank (2.10%), Reliance Infra (2.08%), Maruti Suzuki (2.04%), ONGC (1.46%) and SBI (1.21%).

Losers from the BSE Sensex pack are Infosys Tech (0.59%), Grasim Industries (0.35%), TCS Ltd (0.19%), Sun Pharma (0.19%).

India''s exports fell 26% from a year earlier in July, federal Commerce Secretary Rahul Khullar said on Tuesday. The country''s imports during July fell 35%-36% from the same month last year.

On the global markets front the Asian markets that opened before the Indian market, ended with gains. Shanghai Composite, Hang Seng, Nikkei 225, Singapore''s Straits Times Index and Seoul Composite closed higher by 40.25, 169.20, 16.35, 21.74 and 3.18 points at 2,910.88, 20,306.27, 10,284.96, 2,567.72 and 1,550.24 respectively.

European markets, which opened after the Indian market, are trading in green helped by some upbeat German economic data. In Frankfurt the DAX index is trading higher 29.77 points at 5,231.38 and in London FTSE 100 is trading up by 31.39 points at 4,676.40.

The BSE Capital Goods index was at 12,313.50 up by 432.33 points or by (3.64%). The main gainers were Siemens Ltd up by (5.2%), Punj Lloyd up by (4.86%), Larsen & Toubro Ltd. up by (4.66%), Aiaengineer up by (3.98%) and Jyoti Struct up by (3.68%).

The BSE Realty index was at 3,750.40 up by 87.70 points or by (2.39%). The main gainers were Indbul Real up by (5.47%), Housing Dev up by (4.01%), Penland Ltd up by (3.43%), Anant Raj In up by (3.03%) and DLF Ltd up by (2.95%).

The BSE Metal index was at 12,213.25 up by 274.34 points or by (2.3%). The main gainers were Hindalco up by (6.08%), JSW Steel up by (3.8%), Nalco up by (3.55%), Jindal Saw up by (3.48%) and Welsp Guj Sr up by (3.27%).

The BSE Power index was at 2,868.06 up by 59.30 points or by (2.11%). The main gainers were Siemens Ltd up by (5.2%) at Rs.453.95, Suzlon Energy up by (3.57%), Gmr Infrastr up by (3.44%), Crompton Greaves Ltd. up by (3.12%) and BHEL up by (2.76%).

The BSE PSU index was at 8,202.09 up by 144.20 points or by (1.79%). The main gainers were Andhra Bank up by (5.1%) at, Power Finan up by (5%), Corporation up by (4.47%), Contain Corp up by (4.38%) and Mangalore Refineries & Petroch up by (3.81%).

The BSE Auto index was at 5,393.24 up by 89.74 points or by (1.69%). The main gainers were Bharat Forge up by (8.5%), Mahindra & Mahindra Ltd up by (2.89%), Ashok Leylnd up by (2.73%), Escorts Ltd. up by (2.44%) and Apollo Tyre up by (2.3%).

Ahluwalia Contracts India Ltd advanced by 4.13%. The company informed regarding the recent Awards of New Projects worth of Rs 215.06 Crores.

HDFC ended up by 3.06%. The leading mortgage lender has started its Rs 4,300 crore immediate fund raising exercise. The amount to be raised from the issue of NCDs would be about Rs 4,000 crore. Further the company is issuing 1.1 crore warrants, each convertible into one equity share of the company within three years, at a price of Rs 3,000. The stock is now trading higher by (3.12%) at Rs. 2,320.

Bharti Airtel ended higher by 2.87% after telecom major received bids from more than a dozen overseas banks keen to fund its around USD 23-bn merger deal with top South African mobile company MTN.

Nava Bharat Ventures Ltd spurted 7.18% after the Reserve Bank of India raised the foreign portfolio investment limit in the company to 40%.

Moser Baer increased by 1.88%. The company launched new optical Media high-end products in India.

HCL Technologies Ltd. lost 0.85%. The company said that it has been informed by Reader''s Digest Association (RDA) that the latest developments at its end do not affect its relationship and engagement with HCL.

Tata Communications closed lower by 0.56%. The company, together with its supplier, Tyco Telecommunications, a business unit of Tyco Electronics and an industry pioneer in undersea communications technology, today announced that they have completed the installation, testing and commissioning of the TGN-lntra Asia {TGN-IA) Cable System.

Market on a selling spree

After a flat start, the key benchmark indices are continuously trading with negative sentiments on the back of mixed cues from the global market. The frontline stocks are facing resistance at upper level and witnessing profit booking pressure on a regular interval. On a stock specific move, DLF Ltd has emerged as the sole bidder for the 350.71-acre land parcel in Gurgaon put up for auction by Haryana State Corporation. With a reserve price of Rs 1,700 crore, the land deal would be the biggest since March 2008. The stock is currently trading lower by 0.24%. During the last hours’ trading session heavy selling pressure has emerged across Auto, Oil & Gas and Banking counters. Among BSE sectoral indices, Auto, Oil & Gas and Bankex is trading lower by 1.68%, 1.37% and 1.25% respectively, while a moderate buying interest seen across Consumer Durable counter. Overall the market breadth is positive as out of total 2,211 stocks traded in BSE, 1,110 advanced, 1,023 declined and 78 remained unchanged.

At 11:28:26 AM BSE SENSEX was at 14,836.92 down by 198.34 points or by (1.32%) and the NSE Nifty was at 4403.00 down by 55.9 points or by (1.25%). The BSE MIDCAP was at 5,459.27 down by 37.28 points or by (0.68%) and the BSE SMLCAP was at 6,333.85 down by 7.6 points or by (0.12%)

Losers from the BSE Sensex Pack are Hero Honda down by (3.07%) to Rs. 1,348, along with Rel Infra by (2.80%) to Rs. 1,103, Jaiprakash associate by (2.45%) to Rs. 207.15, TCS Ltd by (2.40%) at Rs. 497.50, RIL by (2.38%) at Rs. 1,900 and Tata Steel by (2.31%) at Rs. 441.

Losers from the NSE Nifty Pack are Hero Honda decreased by (2.99%) at Rs. 1,350 along with Reliance infrastructure by (2.44%) at Rs. 1,107.6, Wipro Ltd by (2.12%) at Rs. 489.8, ACC Ltd by (2.04%) at Rs. 781.55, SBI by (1.99%) at Rs. 1,699.85 and Tata Steel by (1.97%) at Rs. 442.8.

BSE AUTO index was at 5,302.56 down by 90.68 points or by (1.68%) The main losers were Bharat Forge down by (5.29%) at Rs.217.55, Cummins Indi down by (4.08%) at Rs.314.25, Herohonda M down by (3.07%) at Rs. 1,348, Mahindra & Mahindra Ltd. down by (2.06%) at Rs.752.5, Bajaj Auto down by (2.03%) at Rs.1,114.8. The main gainers were Apollo Tyre up by (1.75%) at Rs. 40.7, Bosch Ltd up by (0.93%) at Rs.3900, Exide Indus up by (0.65%) at Rs.84.75.

BSE OIL&GAS index was at 9,383.90 down by 130.41 points or by (1.37%) The main losers were Hindustan Petroleum Corp. Ltd. down by (3.08%) at Rs. 358.4, Reliance down by (2.38%) at Rs. 1,900 Essar Oil Ltd. down by (2.19%) at Rs. 131.95, Ril Nat Res down by (2.02%) at Rs. 79.9, Bharat Petroleum Corporation L down by (2%) at Rs. 508. The main gainers were Cairn Ind up by (0.19%) at Rs. 239.4.

Market gusted northward on bargain hunting

The indian stock market after opening lower, regained strength on bargain hunting with traders buying out in Realty, Capital Goods and Metals stocks despite heavy losses in Chinese equities, which turned lower amid fears that the summer rally could have over heaped the index too far, too fast. Meanwhile, the monsoon situation remains fragile with the country heading into the worst drought year over the last two decades.

On the sectoral front, all indices inclined. Oil exploration stocks gained as crude oil rose, as the dollar''s decline spurred investors to purchase commodities as an alternative investment. Realty and Bank stocks advanced on bargain hunting after being hammered in recent past.

The Market breadth, indicating the overall strength of the market, was strong On BSE, out of 2,532 stocks traded so far, 1,714 shares advanced while 737 shares declined. Nearly 81 shares are unchanged.

At 1.22PM, the BSE Sensex is trading higher by 289.35 points at 15,074.27 whereas NSE Nifty is up by 82.95 points at 4,470.85.

The BSE Mid Cap is trading higher by 110.51 points at 5,496.03 and Small cap is trading up by 127.80 points at 6,339.51.

Major gainers from the BSE Sensex pack are Hindalco Industries Ltd by 5.59% to Rs. 105.85 along with, Jaiprakash Associates Ltd surged 4.00% to Rs. 210.85, DLF Ltd by 3.92% to Rs. 378.70, Larsen & Toubro Ltd by 3.80% to Rs. 1,465.55, Tata Steel Ltd by 3.78% to Rs. 454.25, HDFC Bank Ltd by 2.97% to Rs. 1,449.00, Hindustan Uniliver Ltd by 2.93% to Rs. 256.75, Maruti Suzuki India Ltd by 2.86% to Rs. 1,313.00, Housing Development Finance Co by 2.78% to Rs. 2,314.80, Reliance Communication Ltd by 2.65% to Rs. 251.95, Mahindra & Mahindra Ltd by 2.52% to Rs. 765.60, Wipro Ltd by 2.44% to Rs. 508.50 and Bharti Airtel Ltd by 2.44% to Rs. 408.90.

Major losers from the BSE Sensex Pack are TCS Ltd plunged 0.61% to Rs. 507.6 and Infosys Technologies Ltd by 0.25% to Rs. 1,978.10.

The BSE Realty is higher by 133.21 points or 3.64% at 3,795.91. Stocks inclined include Phoenix Mills Ltd 5.33% to Rs. 131.50, Indiabulls Realty 4.96% to Rs. 229.50, Ansal Infrastructure Ltd by 4.39% to Rs. 61.85, Housing Development by 4.33% to Rs. 279.80, Penland Ltd 4.22% to Rs. 79.00, DLF Ltd 3.92% to Rs. 378.70, Anant Raj by 3.22% to Rs. 134.50 and Sobha Developers Ltd 3.08% to Rs. 209.45 among others.

Nava Bharat Ventures Ltd spurted 7.17% to Rs. 372.40 after the Reserve Bank of India raised the foreign portfolio investment limit in the company to 40%.

Numeric Power Systems Ltd gusted by 19.99% to Rs. 446.20 after it said its board will meet on 22 August 2009 to consider issue of bonus shares.

MVL Ltd improved 2.40% to Rs. 160.10 after its board approved splitting one share of face value Rs. 10 into five shares of face value Rs. 2 each.

Everonn Systems India Ltd gained 1.42% to Rs. 354.25 after a block deal of 2.94 lakh shares was executed on NSE at Rs. 353 per share.

Kiri Dyes & Chemicals Ltd spurted 5.98% to Rs. 410.25 after the company said it is looking for an overseas acquisition.

Mid Session Indian stock Market Commentary

The indian stock markets gained grounds from the early lows and are now trading at the day’s high as strong buying emerged across the board. The BSE Senex has crossed above the 15000 mark and the NSE Nifty above the 4450 mark in the mid trade. All the sectorial indices are trading in green in the mid trade. The significant amount of buying witnessed among the Realty, Capital Goods, Metal and Banking stocks after sharply beaten down in t he previous session. The broader market indices also remained in limelight as the both the BSE Mid Cap and the BSE Small Cap are now trading with a gain of around 2% each.

Hindalco Industries reported the top gainer from the BSE Sensex pack, as it is trading higher by (5.54%) at Rs.105.80 while TCS reported the top loser trading down by (0.51%) at Rs.508.10.

The overall market breadth is positive as 1583 stocks are advancing while 758 stocks are declining and the 79 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,036.38 up by 251.46 points and the NSE Nifty was at 4,473.25 up by 85.35 points.

The BSE Mid cap is trading higher by 100.53 points at 5,486.04 and the BSE small Cap grew by 119.88 points to trade at 6,331.59.

HDFC, the leading mortgage lender has started its Rs 4,300 crore immediate fund raising exercise. The amount to be raised from the issue of NCDs would be about Rs 4,000 crore. Further the company is issuing 1.1 crore warrants, each convertible into one equity share of the company within three years, at a price of Rs 3,000. The stock is now trading higher by (3.12%) at Rs. 2,320.

BSE REALTY indexwas at 3,783.29 advanced by 120.59 points or by (3.29%) The main gainers were Phoenix Mill up by (5.73%) at Rs.132, Indbul Real up by (4.69%) at Rs.228.9, Penland Ltd up by (4.16%) at Rs.78.95, Housing Dev up by (3.93%) at Rs.278.75, Ansal Infras up by (3.8%) at Rs.61.5.

BSE METAL index was at 12,240.13 surged by 301.22 points or by (2.52%) The main gainers were Hindalco In up by (5.34%) at Rs.105.6, Welsp Guj Sr up by (3.71%) at Rs.209.6, Jsw Sl up by (3.46%) at Rs.707, Jindal Steel up by (3.37%) at Rs.3010.1, Tata Stl up by (3.06%) at Rs.451.1.

BSE BANKEX index was at 8,123.46 inclined by 175.59 points or by (2.21%) The main gainers were HDFC Bank Lt up by (2.76%) at Rs.1446.1, Allahabad Bank up by (2.68%) at Rs.86.1, ICICI Bank up by (2.67%) at Rs.723.7, Idbi Bank up by (2.41%) at Rs.97.6, Federal Bank up by (2.38%) at Rs.221.1.

BSE CG index was at 12,220.40 surged by 339.23 points or by (2.86%) The main gainers were Punj Lloyd up by (4.86%) at Rs.234.2, Larsen & Toubro Ltd. up by (3.82%) at Rs.1465.8, Elecon Eng C up by (3.35%) at Rs.75.5, Usha Martin up by (3.29%) at Rs.53.45, Siemens Ltd up by (3.27%) at Rs.445.6, The main losers were Thermax Lmtd down by (1.05%) at Rs.399.55.

BSE FMCG index was at 2,492.30 increased by 43.36 points or by (1.77%) The main gainers were Unitd Spr up by (5.15%) at Rs.884.9, United Brew up by (3.52%) at Rs.150.1, Hind Uni Lt up by (2.39%) at Rs.255.4, Ruchi Soya up by (2.21%) at Rs.73.85, Colgate Palm up by (1.49%) at Rs.611.

BSE AUTO index was at 5,408.27 grew by 104.77 points or by (1.98%) The main gainers were Bharat Forge up by (5.48%) at Rs.223.3, Apollo Tyre up by (4.6%) at Rs.40.9, Marutisuzuki up by (2.63%) at Rs.1310.05, Amtek Auto L up by (2.62%) at Rs.139.15, Mahindra & Mahindra Ltd. up by (2.44%) at Rs.765.

BSE CD index was at 3,016.95 increased by 30.75 points or by (1.03%) The main gainers were Videocon Ind up by (3.32%) at Rs.199, Rajesh Expot up by (2.26%) at Rs.43, Gitanjali Gem up by (1.94%) at Rs.110.3.

BSE PSU index was at 8,205.06 advanced by 147.17 points or by (1.83%) The main gainers were Power Finan up by (4.52%) at Rs.218.5, Hindustan Petroleum Corp. Ltd. up by (3.47%) at Rs.370.8, Andhra Bank up by (3.17%) at Rs.88, Nat Alum Co up by (3.03%) at Rs.314.5, Dredg Corp up by (2.96%) at Rs.445.

BSE POWER index was at 2,854.67 rose by 45.91 points or by (1.63%) The main gainers were Siemens Ltd up by (3.27%) at Rs.445.6, Suzlonenergy up by (2.81%) at Rs.87.75, Neyveli Lig up by (2.39%) at Rs.130.5, Rel Infra up by (2.08%) at Rs.1135.75, Bhel up by (2.02%) at Rs.2227.

BSE HC index was at 3,802.82 improved by 18.74 points or by (0.5%) The main gainers were Orchid Chem up by (4.94%) at Rs.104, Dishman Phar up by (3.75%) at Rs.204.5, Glenmark Pha up by (3.43%) at Rs.256.3, Wockhardt Lt up by (2.33%) at Rs.160.55, Sunpha Adv up by (1.95%) at Rs.70.6.

BSE OIL&GAS index was at 9,542.37 jumped by 109.86 points or by (1.16%) The main gainers were Hindustan Petroleum Corp. Ltd. up by (3.47%) at Rs.370.8, Essar Oil Ltd. up by (3.27%) at Rs.134.15, Aban Offsho up by (3.05%) at Rs.1127.6, Cairn Ind up by (3.04%) at Rs.244, Indian Oil up by (2.76%) at Rs.585.

BSE TECk index was at 2,865.50 grew by 28.27 points or by (1%) The main gainers were Rolta Ind up by (6.11%) at Rs.160.6, Mphasis Ltd up by (4.72%) at Rs.517.2, Deccan Chr up by (4.33%) at Rs.96.45, Tanla up by (3.54%) at Rs.52.6, Patni Comput up by (3.5%) at Rs.387.05.

BSE IT index was at 3,874.58 inclined by 6.73 points or by (0.17%) The main gainers were Rolta Ind up by (6.11%) at Rs.160.6, Mphasis Ltd up by (4.72%) at Rs.517.2, Patni Computer up by (3.5%) at Rs.387.05, Tech Mah up by (2.08%) at Rs.822.2, Niit Ltd up by (2.08%) at Rs.66.2.

On the global markets front, the Asian markets are trading higher as the Hang Seng, Shanghai Composite , Nikkei 225, Straits Times and Seoul Composite index are trading up by (1.04%), (1.68%), (0.16%), (0.82%) and (0.21%) respectively.

Market recovers early losses

After a subdued opening, the frontline stocks have bounced back strongly on the major Indian bourses as investors looked for some bargain hunting after yesterday’s terrible fall. On a stock specific move, Bharti Airtel is trading higher by 1.08% after telecom major received bids from more than a dozen overseas banks keen to fund its around USD 23-bn merger deal with top South African mobile company MTN. During the last hours'' trading session, buying interest have been persistent across Realty, Capital Goods (CG) and Metal stocks whereas selling pressure has emerged across Consumer Durable (CD) counter. Among the BSE sectoral indices, Realty, CG and Metal stocks surged by 2.54%, 2% and 1.87% respectively, while the CD index declined by -0.02%. Overall the market breadth is positive as 1,325 stocks are trading in green while 696 stocks are in red

At 11:30 AM BSE SENSEX was at 14,964.85 up by 179.93 points or by (1.22%) and the NSE Nifty was at 4434.55 up by 46.65 points or by 1.06% The BSE MIDCAP was at 5,471.07 up by 85.56 points or by (1.59%)and the BSE SMLCAP was at 6,315.35 up by 103.64 points or by (1.67%)

Gainers from the BSE Sensex Pack are Hindalco Industries up by (3.34%) to Rs. 103.60, along with Jaiprakash Associate by (3.13%) to Rs. 209.10, L&T Ltd by (2.63%) at Rs. 1,449, DLF Ltd by (2.51%) at Rs. 373.55, Mahindra and Mahindra by (2.46%) at Rs. 765.20 and Reliance Communication by (2.26%) at Rs.251.

Gainers from the NSE Nifty Pack are Idea Cellular surged by (3.19%) at Rs. 79.15 along with Hindalco Industries by (3.14%) at Rs. 103.4, Siemens Ltd by (3.12%) at Rs. 445, DLF Ltd by (3.05%) at Rs. 375.5, L&T Ltd by (2.93%) at Rs. 1,454.35 and HUL (2.54%) at Rs. 254.7.

BSE Realty is trading higher by (2.54%) or 92.98 points at 3,755.68. The top gainers in the index are Phoenix mill surged by (6.33%) to Rs. 132.75 along with Penland Ltd by (4.35%) to Rs. 79.10, Indiabul Real by (3.36%) to Rs. 226, followed by Housing Dev by (3.21%) at Rs. 276.80.

BSE CG is trading higher by (2%) or 237.04 points at 12,118.21. The major gainers are Elecon Eng surged by (3.56%) at Rs. 75.65 along with Siemens Ltd by (3.31%) at Rs. 445.80, AIA Eng by (2.85%) at Rs. 236.50 followed by L&T Ltd by (2.63%) at Rs. 1,449.

Sensex slips below the 15000 mark

The stock markets continued their downward momentum and are now trading near the day’s low as strong selling pressure continued across the board. Further the negative European markets also turned the sentiments. The BSE Sensex has slipped below the 15000 mark and the NSE Nifty below the 4450 mark in the afternoon trade. The Realty, Metal, Auto, Banking and Oil & Gas stocks stocks continued o remain under pressure. The broader market indices are also witnessing the selling heat as the BSE Mid Cap is now trading with a cut of more than 2% and the BSE small Cap indices with a loss of more than 1%.

The overall market breadth is negative as 788 stocks are advancing while 1722 stocks are declining in BSE.

There were no gainers from the BSE Sensex pack in the afternoon trade. However, DLF reported the top loser from the BSE Sensex pack, as it is trading down by (6.96%) at Rs.367.50 followed by Tata Steel trading down by (5.61%) at Rs. 443.40.

At 2.31PM the BSE Sensex is trading lower by 496.01 points at 14,915.62 and the NSE Nifty is trading lower by 155.75 points at 4,424.30.

The BSE Mid Cap decreased by 155.39 points to 5,448.42 and the BSE Small Cap fell by 120.78 points to 6,291.78.

The Realty index is trading with deep cut of 257.12 points or 6.49% at 3,705.94. Losers from this pack are Phoenix Mill trading lower by 9.09% at Rs. 130 followed by HDIL by 7.77% at Rs.272.40, DLF by 7.01% at Rs. 367.30, Parsvnath by 6.35% at Rs. 112.15, Indiabull Real by 6.24% at Rs. 221.80, Unitech by 6.03% at Rs. 87.25, Orbitco by 5% at Rs. 179.65, Sobha Dev by 4.70% at Rs. 207 and Anant Raj In by 3.71% at Rs. 132.30.

The Metal index is trading with losses of 604.60 points or 4.75% at 12,116.24. The main losers are JSW Steel trading down by 5.91% at Rs. 692 along with Tata Steel by 5.89% at Rs. 442.10, Sterlite Inds by 5.46% at Rs. 626.20, Hindalco Inds by 5.08% at Rs. 102.70, Jindal Steel by 5.05% at Rs. 2,962, Ispat Inds by 4.62% at Rs. 21.70 and Jai Corp by 4.36% at Rs. 209.40.

The most active shares on NSE are Suzlon Energy trading at Rs. 86.75 with a total traded quantity of 46912527 shares followed by Unitech trading at Rs. 86.20 with a total traded quantity of 34007008 shares.

Krypton Industries Ltd is trading lower by 2.28% at Rs. 32.20. The company has informed that the Board of Directors of the Company at its meeting held on August 14, 2009 took a decision to raise an Amount not exceeding Rs 11 Crore by issue of shares on right basis at such price as may be decided later by board.

LIC Housing Finance is trading down by 2.23% at Rs. 602. With effect from August 1, LIC Housing Finance cut interest rates for new loans by 0.5% where for customers opting for floating rate loans between Rs 30 lakh and Rs 75 lakh, the new rates will be 8.755 against 9.25%
On the global markets front, the European markets are now trading lower as the FTSE 100, DAX and CAC 40 index are trading down by (1.48%), (1.70%) and (2.17%) respectively.

Market continued its downtrend Date :Aug-17-2009 13:32

After a gap down opening, the key benchmark indices continued its downtrend on the back of sharp drop in Asian stocks led by around 5% fall in Chinese stocks and an unexpected decline in a U.S. consumer confidence index that raised concern about the strength of a revival in global outlook. Back home, worries of poor progress of India''s annual monsoon rains further ruined sentiment.

On the sectoral front, all indices declined. Oil exploration stocks drifted down as oil prices extended losses. Metal shares fell after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 3.05% last Friday. Auto stocks slipped on concerns arising from scanty rains as auto firms derive substantial revenue from rural India. Construction, capital goods and cement shares fell on profit booking after recent gains.

The Market breadth, indicating the overall strength of the market, was weak On BSE, out of 2,510 stocks traded so far, 796 shares advanced while 1,637 shares declined. Nearly 77 shares are unchanged.

At 1.30PM, the BSE Sensex is trading lower by 432.30 points at 14,979.33 whereas NSE Nifty is down by 135.94 points at 4,444.10.

The BSE Mid Cap is trading lower by 133.64 points at 5,470.17 and Small cap is trading down by 93.52 points at 6,319.04.

Major losers from the BSE Sensex Pack are Hero Honda Motors Ltd plunged 5.22% to Rs. 1,401, Tata Steel Ltd 4.58% to Rs. 448.25, DLF Ltd plunged 4.42% to Rs. 377.55, Sterlite Industries Ltd 4.36% to Rs. 633.50, Hindalco Industries Ltd by 4.34% to Rs. 103.5, Tata Motors Ltd by 4.10% to Rs. 447.65, ACC Ltd by 3.88% to Rs. 798.05, ICICI Bank Ltd by 3.65% to Rs. 717, Mahindra & Mahindra Ltd by 3.49% to Rs. 761.20, Reliance Infrastructure Ltd by 3.46% to Rs. 1,144.5 and Jaiprakash Associates Ltd by 3.42% to Rs. 209.

Lone gainer from the BSE Sensex pack was BHEL that gained 0.37% to Rs. 2,209.35.

The BSE Realty is lower by 184.27 points or 4.65% at 3,778.79. Stocks plunged are Phoenix Mills Ltd 7.17% to Rs. 132.75, Indiabulls Realty 5.52% to Rs. 223.50, Unitech Ltd 5.06% to Rs. 88.15, Orbitco Ltd 5% to Rs. 179.65, Housing Development by 4.86% to Rs. 281 and Parsvnath 4.80% to Rs. 114 among others.

Berger Paints (India) Ltd fell 0.73% to Rs. 47.50 despite its board approved issuing 72 lakh shares of a face value of Rs 2 each to Nalanda India Fund.

Provogue India Ltd gained 1.46% to Rs. 66.15 after its board approved spending Rs. 50 crore to buy back 50 lakh shares at up to Rs 100 each.

KSK Energy Ventures Ltd climbed 1.19% to Rs. 182.80 after it said it will seek shareholders approval to raise as much as Rs 2000 crore by selling preferential shares.

The stock markets lost further grounds and with the BSE Sensex trading near the 15000 mark. The sharp sell off across the Asian markets also turned down the sentiments today. The Chinese market was down 5%. All the sectorial indices are trading in red today. The Realty, Meta, Auto, Banking and Oil & Gas stocks remained in pressure today. The broader market indices also remained in pressure as the BSE Mid Cap is now trading with a cut of more than 2% each and the BSE Small Cap with a loss of more than 1%.. The BSE Sensex is now trading below the 15050 mark and the NSE Nifty below the 4500 mark.

BHEL reported the top gainer from the BSE Sensex pack, as it is trading higher by (0.55%) at Rs.2,213.50 while Hero Honda reported the top loser trading down by (5.22%) at Rs.1,401.

The overall market breadth is negative as 815 stocks are advancing while 1539 stocks are declining and the 67 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,016.70 down by 395.56 points and the NSE Nifty was at 4,456.35 down by 123.70 points.

The BSE Mid cap is trading lower by 116.23 points at 5,487.58 and the BSE small Cap fell by 70.36 points to trade at 6,342.20.

BSE REALTY indexwas at 3,783.28 down by 179.78 points or by (4.54%) The main losers were Penland Ltd down by (-0.83%) at Rs.78, Anant Raj In down by (1.42%) at Rs.135.45, Ansal Infras down by (1.58%) at Rs.62.45, Sobha Dev down by (2.28%) at Rs.212.25, Omaxe Ltd down by (2.69%) at Rs.101.35.

BSE METAL index was at 12,190.18 down by 530.66 points or by (4.17%) The main losers were Nmdc Ltd down by (0.99%) at Rs.361, Jindal Saw down by (1.44%) at Rs.553, Nat Alum Co down by (1.82%) at Rs.311, Hind.Zinc down by (2.84%) at Rs.709.1, Welsp Guj Sr down by (2.94%) at Rs.210,

BSE BANKEX index was at 8,063.03 down by 222.96 points or by (2.69%) The main losers were Federal Bank down by (0.18%) at Rs.225.5, Indus Ind Bk down by (0.84%) at Rs.94.8, Allahabad Bk down by (1.17%) at Rs.84.5, Bank Of India down by (1.19%) at Rs.315.6, Hdfc Bank Lt down by (1.37%) at Rs.1407.25,

BSE CG index was at 12,119.89 down by 227.51 points or by (1.84%) The main losers were Suzlonenergy down by (0.57%) at Rs.87.75, Thermax Lmtd down by (0.82%) at Rs.404.9, Jyoti Struct down by (1.27%) at Rs.136, Abb Ltd down by (1.53%) at Rs.667.55, Crompton Greaves Ltd. down by (1.54%) at Rs.277.95.

BSE FMCG index was at 2,492.37 down by 60.43 points or by (2.37%) The main losers were Ruchi Soya down by (0.87%) at Rs.73.65, Tata Tea Ltd down by (1.43%) at Rs.922.15, Britania In down by (1.84%) at Rs.1688, Godrej Cons down by (1.95%) at Rs.218.95, Hind Uni Lt down by (1.99%) at Rs.251.35.

BSE AUTO index was at 5,377.54 down by 191.68 points or by (3.44%) The main losers were Bosch Ltd down by (0.26%) at Rs.3890, Amtek Auto L down by (2.67%) at Rs.134.8, Marutisuzuki down by (2.99%) at Rs.1306, Ashok Leylnd down by (3.27%) at Rs.35.5, Bajaj Auto down by (3.48%) at Rs.1081.8.

BSE CD index was at 3,076.33 down by 27.84 points or by (0.9%) The main losers were Blue Star L down by (0.63%) at Rs.340, Gitanjali Ge* down by (1.02%) at Rs.111.7, Rajesh Expot down by (3.05%) at Rs.42.9, Videocon Ind down by (3.52%) at Rs.201.7.

BSE PSU index was at 8,198.79 down by 126.36 points or by (1.52%) The main losers were Ntpc Ltd down by (0.39%) at Rs.205.4, Engineers In down by (0.57%) at Rs.1000.45, Shipping Cor down by (0.93%) at Rs.128, Nmdc Ltd down by (0.99%) at Rs.361, Andhra Bank down by (1.21%) at Rs.86.

BSE POWER index was at 2,862.20 down by 34.73 points or by (1.2%) The main losers were Tata Power down by (0.36%) at Rs.1278.8, Ntpc Ltd down by (0.39%) at Rs.205.4, Suzlon energy down by (0.51%) at Rs.87.8, Tornt Power down by (1.07%) at Rs.241.1, Abb Ltd down by (1.53%) at Rs.667.55, The main gainers were Bhel up by (0.66%) at Rs.2215.8,

BSE HC index was at 3,830.02 down by 56.05 points or by (1.44%) The main losers were Glaxosmith down by (-0.05%) at Rs.1433, Bilcare Lt down by (-0.09%) at Rs.399.55, Aurobindo Ph down by (0.36%) at Rs.660.65, Apollo Hos E down by (0.54%) at Rs.535, Dr.Reddys Laboratories Ltd. down by (0.64%) at Rs.795.95.

BSE OIL&GAS index was at 9,622.45 down by 246.76 points or by (2.5%) The main losers were ONGC down by (2.14%) at Rs.1194.1, Gail India down by (2.57%) at Rs.333.55, Rel Pet down by (2.58%) at Rs.122.8, Reliance down by (2.76%) at Rs.1978.1, Ril Nat Res down by (3.03%) at Rs.80.05.

BSE TECk index was at 2,860.40 down by 60.42 points or by (2.07%) The main losers were Iol Net Com down by (0.17%) at Rs.29.5, Idea Cell down by (0.32%) at Rs.77.8, Oracle Fin down by (0.5%) at Rs.1530.05, Gtl Limited down by (0.57%) at Rs.298.1, Aptech Ltd down by (0.84%) at Rs.212.9.

BSE IT index was at 3,892.01 down by 85.72 points or by (2.15%) The main losers were Oracle Fin down by (0.5%) at Rs.1530.05, Aptech Ltd down by (0.84%) at Rs.212.9, Wipro Ltd. down by (1.23%) at Rs.503.9, Tech Mah down by (1.39%) at Rs.831.5, Tcs Ltd down by (2.23%) at Rs.509.


On the global markets front, the Asian markets are trading lower as the Hang Seng, Shanghai Composite , Nikkei 225, Straits Times and Seoul Composite index are trading down by (3.36%), (5.72%), (3.10%), (1.91%) and (2.79%) respectively. Japan''s economy made a sharp turnaround in the second quarter (April-June) as it expanded at an annual pace of 3.7% on a strong rebound in exports. Exports grew 6.3% from the previous quarter, the highest growth since the second quarter of 2002.

Market tanks due to global cues

After a gap down opening, the benchmark indices are continuously trading with weak sentiments on the back of losses in Asian and US stock markets. Selling pressure has emerged across the board with frontline stocks leading the laggards list. On a stock specific move, Religare Enterprises is trading higher by 1.89% after it submitted a non-indicative bid to buy the Asian private banking assets of Dutch insurance and banking major ING Bank. During the last hours’ dull session, selling interest emerged across Realty, Metal and Auto counters. Among BSE sectoral indices, Realty, Metal and Auto dipped by 3.4%, 3.10% and 2.76% respectively. Overall market breadth is negative as out of total 2,165 stocks traded in the BSE, 1,303 stocks declined, 805 stocks advanced while 57 remain unchanged.

At 11.30 AM, the BSE Sensex is down by 326.62 points at 15,085.01 while NSE Nifty declined by 101.15 points at 4,478.9. Besides, the BSE Mid Cap and Small Cap are trading lower by 64.14 points and 18.38 points at 5,539.67 and 6,394.18 respectively.

Losers from the BSE Sensex Pack are Hero Honda Motors declined by (5.65%) to Rs. 1,394.7, along with Jaiprakash Associate by (3.95%) to Rs. 207.85, Mahindra and Mahindra Ltd by (3.66%) to Rs. 759.85, Sterlite Industries by (3.40%) at Rs. 639.8, DLF Ltd by (3.28%) at Rs. 382.05, and ICICI Bank by (3.26%) at Rs. 719.90.

Losers from the NSE Nifty Pack are Hero Honda Motors decreased by (5.44%) at Rs. 1,397.7, along with Unitech Ltd by (4.68%) at Rs. 88.6, Jindal Steel and power by (4.02%) at Rs. 2,994.65, Reliance Capital Ltd by (3.93%) at Rs. 822.2, Mahindra and Mahindra Ltd by (3.65%) at Rs. 761.25 and Hindalco Industries by (3.60%) at Rs. 104.45.

BSE Realty is trading lower by (3.40%) or 134.92 points at 3,828.14. The top losers in the index are Orbit corp declined by (5%) to Rs. 179.65 along with Phoenix Mill by (4.79%) to Rs. 136.15, Unitech Ltd by (4.63%) to 88.55, Parsvnath Dev by (4.05%) to Rs. 114.9, followed by Indiabul Real by (3.53%) to Rs. 228.2.

BSE Metal is trading lower by (3.10%) or 393.73 points at 12,327.11. The top losers are Jindal Steel dipped by (4.14%) at Rs. 2,990.35 along with Gujarat NRE by (3.94%) at Rs. 52.40, Hindalco Industries by (3.65%) at Rs. 104.25, Sterlite Industries by (3.40%) to Rs. 639.8 followed by Tata Steel by (3.14%) at Rs. 455.

Markets are still choppy.

The stock markets remained choppy today and are swinging around the unchanged mark. The FMCG, IT, Tech and Pharma stocks continued o remain under pressure. The Oil & Gas inex outperformed the benchmark indices as it is now trading with a gain of more than 2%. The broader market indices are however witnessing the buying momentum as both the BSE Mid Cap and the small Cap indices are now trading higher.

The overall market breadth is positive as 1409 stocks are advancing while 1179 stocks are declining in BSE.

ONGC reported the top gainer from the BSE Sensex pack, as it is trading up by (4.73%) at Rs.1,219.50 while Jai Prakash associate reported the top loser trading down by (2.90%) at Rs. 217.80.

At 2.31PM the BSE Sensex is trading lower by 71.44 points at 15,447.05 and the NSE Nifty is trading lower by 16.45 points at 4,588.55.

The BSE Mid Cap increased by 4.53 points to 5,613.42 and the BSE Small Cap grew by 49.56 points to 6,436.61.

The FMCG index is trading with losses of 44.48 points or 1.72% at 2,540.80. Losers from this pack are HUL trading lower by 3.04% at Rs. 255.30 along with ITC by 2.45% at Rs. 233.10, United Spirits by 1.41% at Rs. 896.05, Ruchi Soya by 1.21% at Rs. 73.70 and Colgate Palmolive by 0.65% at Rs. 602.

The Oil and Gas index is trading gains of 193.92 points or 2% at 9,895.53. Gainers from this pack are ONGC trading higher by 5.12% at Rs. 1224, HPCL by 3.42% at Rs. 366.10, Gail India by 3.32% at Rs. 342.50, IOCL by 3.13% at Rs. 567.25, RNRL by 2.47% at Rs. 82.85, Cairn India by 2.20% at Rs. 246.60 and BPCL by 2.17% at Rs. 522.90.

The most active shares on NSE are IFCI trading at Rs. 52.75 with a total traded quantity of 40559417 shares followed by Unitech trading at Rs. 93.60 with a total traded quantity of 31578630 shares.

Punjab National Bank is trading lower by 0.86% at Rs. 696. The bank has slashed home and car loan rates by 50 basis points where the bank has launched ''''PNB Festival Season Bonanza Offer 2009'''' that offers attractive rates to people during the festival season. However, PNB''''s campaign is said to come a week after SBI''''s three-month-long home loan campaign, offering loans at 8%.

On the global markets front, the European markets are now trading higher as the FTSE 100, DAX and CAC 40 index are trading up by (0.46%), (0.47%) and (0.60%) respectively.

Market traded volatile in a narrow range

After a subdued opening, the key benchmark indices traded volatile in a range bound session on profit taking despite Federal Reserve''s statement that "economic activity is levelling out". The US''s central bank gave no signal on any increase in its $300 billion quantitative easing programme which was necessary and its outlook on recovery prospects improved.

On the sectoral front, out of 13 Indices, 4 indices advanced whereas 9 indices declined. Oil exploration stocks advanced as crude oil gained for a second day after the German and French economies unexpectedly grew, sprinkling hopes for a recovery in fuel demand. Realty stocks plunged on profit taking. Auto stocks slipped on worries arising from scanty rains as auto firms derive larger revenue from rural India. IT stocks drifted down on weak US retail sales data.

The Market breadth, indicating the overall strength of the stock market, was strong On BSE, out of 2,559 stocks traded so far, 1,358 shares advanced while 1,122 shares declined. Nearly 79 shares are unchanged.

At 1.18PM, the BSE Sensex is trading lower by 40 points at 15,478 whereas NSE Nifty is down by 13.20 points at 4,591.50.

The BSE Mid Cap is trading higher by 13.18 points at 5,622.08 and Small cap is trading up by 48.22 points at 6,435.28.

Major losers from the BSE Sensex Pack are ITC Ltd plunged 2.91% to Rs. 232.00, Housing Development Finance Co Ltd 2.48% to Rs. 2,304, Jaiprakash Associates Ltd plunged 2.30% to Rs. 219.15, Wipro Ltd 2.21% to Rs. 504.10, Hero Honda Motors Ltd by 2.01% to Rs. 1,477, Hindustan Uniliver Ltd by 1.94% to Rs. 258.20, Infosys Technologies Ltd by 1.85% to Rs. 2,027, ICICI Bank by 1.83% to Rs. 743.10, Tata Motors by 1.72% to Rs. 465.20, Sun Pharmaceuticals Ltd by 1.52% to Rs. 1,224.30 and TCS Ltd by 1.33% to Rs. 520.00.

Major gainers from the BSE Sensex pack are ONGC Ltd up by 4.27% to Rs. 1,214.10 along with, Tata Steel Ltd surged 1.30% to Rs. 476.60, Hindalco Industries Ltd by 1.20% to Rs. 109.90, Reliance Infrastructure Ltd by 1.10% to Rs. 1,181, Sterlite Industries by 0.98% to Rs. 666 and Reliance Industries Ltd by 0.58% to Rs. 2,035.15 among others.

The BSE FMCG is lower by 52.23 points or 2.02% at 2,533.05. Stocks plunged are ITC Ltd 2.91% to Rs. 232.00, Hindustan Uniliver Ltd 1.94% to Rs. 258.20, Ruchi Soya Ltd 1.61% to Rs. 73.40, United Brew Ltd 0.78% to Rs. 153.05, United Spr Ltd by 0.54% to Rs. 904 and Colgate Palm 0.23% to Rs. 604.55 among others.

IndusInd Bank Ltd spurted 3.54% to Rs. 96.40 after the bank said its capital adequacy ratio, or CAR, has risen to over 15% following its Rs. 480 crore qualified institutional placement.

Indraprastha Gas Ltd zoomed 6.23% to Rs. 162.85 on buzz the company signed a pact with Reliance Industries and its partner NIKO for purchasing of gas from D6 block of Krishna-Godavari basin at $4.2 per million British thermal unit.

eClerx Services Ltd gained 1.50% to Rs. 328.10 after private equity firm Sequoia Capital bought a 6% stake in the company from Burwood Ventures for nearly Rs. 40 crore in a block deal on Wednesday, 12 August 2009.

Tulsyan NEC Ltd gained 0.29% to Rs. 51.10 after the company said its board will meet on 18 August 2009 to consider issue of equity shares on rights basis.

Mid Session Indian stock Market Commentary...

The stock markets are witnessing a volatile session today with negative bias as profit booking continued after a sharp rally in the previous session. Further the mixed Asian markets also led to a choppy session. The FMCG, IT, Tech and Banking stocks remained in pressure today. However, some buying among the Oil & Gas, Consumer Durables, PSU and Metal stocks have provided some support to the markets. The broader market indices are however trading flat as the BSE Mid Cap is trading near the unchanged mark while the BSE Small Cap is now trading higher. The BSE Sensex is now trading below the 15450 mark and the NSE Nifty below the 4600 mark.

ONGC reported the top gainer from the BSE Sensex pack, as it is trading higher by (4.77%) at Rs.1,220 while ITC reported the top loser trading down by (2.70%) at Rs.232.50.

The overall market breadth is positive as 1330 stocks are advancing while 1069 stocks are declining and the 70 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,420.04 down by 98.45 points and the NSE Nifty was at 4,572.90 down by 32.10 points.

The BSE Mid cap is trading flat at 5,680.73 and the BSE small Cap grew by 35.32 points to trade at 6,422.37.

Sterlite Industries is trading higher by (1.31%) at Rs. 667.60 amid reports that the government is planning to sell its 49% stake in Bharat Aluminium Company (Balco) to Sterlite Industries at around Rs.2000 crore. Sterlite Industries had earlier bought 51% stake in Balco in 2001.

HDFC, the country’s largest home loan financer has reduced the interest rate by 50 basis points on loan amount ranging between Rs.30-50 lakh. After this cut, the new rate will carry 9% per annum down from 9.5% earlier. However, the stock is now trading down by (2.16%) at Rs. 2,312.

BSE REALTY index was at 3,989.29 down by (41.97) points or by (1.04%) The main gainers were Anant Raj In up by (5.17%) at Rs.136.25, Orbitco up by (3.77%) at Rs.191.5, Omaxe Ltd up by (3%) at Rs.105.1, Penland Ltd up by (2.86%) at Rs.79.7, Ansal Infras up by (2.5%) at Rs.64.25.

BSE METAL index was at 12,787.82 up by 8.10 points or by (0.06%) The main gainers were Gujara Nre C up by (2.3%) at Rs.55.15, Jindal Saw up by (2.08%) at Rs.577.7, Welsp Guj Sr up by (1.58%) at Rs.217.5, Nmdc Ltd up by (1.4%) at Rs.367, Hind.Zinc up by (1.33%) at Rs.731.15.

BSE BANKEX index was at 8,243.73 down by (110.35) points or by (1.32%) The main gainers were Indus Ind Bk up by (3.11%) at Rs.96, Oriental Bk up by (2.17%) at Rs.167, Punjab Natbk up by (2.14%) at Rs.687, Kotak Bank up by (2.02%) at Rs.739, Icici Bank L up by (1.92%) at Rs.742.4.

BSE CG index was at 12,337.86 down by (79.89) points or by (0.64%) The main gainers were Everest Kant up by (4.85%) at Rs.193.5, Havellsindia up by (2.52%) at Rs.291, Elecon Eng C up by (2.15%) at Rs.80.75, Praj Industries Ltd. up by (2.13%) at Rs.91.2, Reliance Industrial Infrastruc up by (1.55%) at Rs.993.4.

BSE FMCG index was at 2,538.00 down by (47.28) points or by (1.83%) The main gainers were Tata Tea Ltd up by (3.65%) at Rs.936.4, I T C Ltd up by (3.01%) at Rs.231.75, Britania In up by (2.59%) at Rs.1718.95, Hind Uni Lt up by (2.16%) at Rs.257.6, Godrej Cons up by (1.79%) at Rs.224.75.

BSE AUTO index was at 5,582.50 down by (45.32) points or by (0.81%) The main gainers were Apollo Tyre. up by (3.63%) at Rs.41.35, Herohonda up by (2.09%) at Rs.1475.9, Tata Motors up by (1.38%) at Rs.466.8, Marutisuzuki up by (1.28%) at Rs.1356, Bharat Forge up by (0.99%) at Rs.231.

BSE CD index was at 3,114.01 up by 46.58 points or by (1.52%) The main gainers were Gitanjali Ge up by (4.52%) at Rs.113.3, Videocon Ind up by (2.27%) at Rs.205, Rajesh Expot up by (2.19%) at Rs.44.3, Titan Ind. up by (1.7%) at Rs.1215, Blue Star L up by (0.16%) at Rs.344.6.

BSE PSU index was at 8,331.28 up by 43.44 points or by (0.52%) The main gainers were St Trad Corp up by (4.39%) at Rs.323.35, Ong Corp Ltd up by (4.32%) at Rs.1214.7, Gail India up by (3.47%) at Rs.343, Hind.Copper up by (3.47%) at Rs.243, Hindustan Petroleum Corp. Ltd. up by (2.4%) at Rs.362.5.

BSE POWER index was at 2,903.55 down by (13.29) points or by (0.46%) The main gainers were Tornt Power up by (2.51%) at Rs.245, Gmr Infrastr up by (2.11%) at Rs.134.5, Lanco Infra up by (1.56%) at Rs.440.6, Ntpc Ltd up by (1.21%) at Rs.208.75, Rel Infra up by (1.16%) at Rs.1181.6.

BSE HC index was at 3,888.96 down by (32.17) points or by (0.82%) The main gainers were Sunpha Adv up by (3.93%) at Rs.72.05, Sun Pharmaceuticals Ltd. up by (1.86%) at Rs.1220, Wockhardt Lt up by (1.84%) at Rs.160, Lupin Ltd up by (1.69%) at Rs.994, Opto Circuit up by (1.37%) at Rs.179.5.

BSE OIL&GAS index was at 9,828.95 up by 127.34 points or by (1.31%) The main gainers were ONGC Ltd up by (4.32%) at Rs.1214.7, Gail India up by (3.47%) at Rs.343, Hindustan Petroleum Corp. Ltd. up by (2.4%) at Rs.362.5, RNRL up by (2.29%) at Rs.82.7, Indian Oil C up by (2.17%) at Rs.562.

BSE IT index was at 3,957.83 down by (66.76) points or by (1.66%) The main gainers were Hcl Techno up by (4.65%) at Rs.268.9, Aptech Ltd up by (3.93%) at Rs.217, NIIT Ltd up by (3.57%) at Rs.68.25, Rolta Ind up by (2.67%) at Rs.163.3, Wipro Ltd. up by (2.33%) at Rs.503.5.

On the global markets front, the Asian markets are trading mixed as the Nikkei 225 and Seoul Composite index are trading up by (0.76%) and (1.71%) respectively. However, Hang Seng, Shanghai Composite and Straits Times index are trading down by (0.71%), (2.43%) and (0.08%) respectively.

Sensex is still hovering in negative terrain, Aug-14-2009 11:40

The benchmark Sensex is still hovering in the negative terrain on selective profit booking across IT index. After a smart rally in yesterday’s session, the domestic stock market holds back to a bit on concerns of weak monsoon rains and weak Chinese stocks on concerns that this year’ rally has overvalued the prospects for earnings growth, and these put some pressure on the investors’ sentiments. On the economic front, India has signed a trade pact with 10 nation Association of South East Asian Nations, which will eliminate tariffs on around 4,000 products such as consumer electronics, pharmaceuticals, machinery, metals and readymade garments. Moreover, the Prime Minister Manmohan Singh constituted a Group of Ministers (GoM) headed by finance minister Pranab Mukherjee, to suggest measures to control the damage caused by the failure of summer crop. On the stock specific front, ONGC is trading with decent gains of 4.88% at Rs. 1,221.20 on the back of reports that ONGC is in talks with three Russian firms about a joint bid for a stake in YPF, an Argentinean arm of Spanish oil major Repsol YPF SA. Among the sectoral indices, the BSE Consumer Durables, Oil & Gas jumped by 2.01% and 1.57% respectively. Overall the market breadth is positive as 1,33 stocks are trading in green while 895 stocks are in red.

At 11.35 AM, the BSE Sensex is trading marginally lower by 57.26 points at 15,461.23 whereas NSE Nifty is down by 11.50 points at 4,593.50. Besides, the BSE Mid Cap and Small Cap are trading higher by 12.21 points and 56.31 at 5,621.10 and 6,443.36 respectively.

Losers from the BSE Sensex Pack are HDFC lower by (1.84%) to Rs. 2,319 along with JP Associates by (1.54%) to Rs. 220.85, Infosys by (1.37%) at Rs. 2,037, Wipro by (1.23%) at Rs. 509.15, TCS by (1.14%) at Rs. 521.

Gainers from the BSE Sensex Pack are ONGC higher by (5.23%) at Rs. 1,225.35 along with Reliance Infra by (2.30%) at Rs. 1,195, Tata Steel by (1.84%) at Rs. 479.15, M&M by (1.65%) at Rs. 808 and Grasim Inds by (1.56%) at Rs. 2,716.

BSE Consumer Durables index is trading higher by (2.01%) or 61.57 points at 3,129. The major gainers are Gitanjali GE up by (4.57%) at Rs. 113.35 along with Videocon by (3.67%) at Rs. 207.80, Rajesh Exports by (3.46%) at Rs. 44.85, Titan Inds by (2.21%) at Rs. 1,221.05.

BSE IT index is trading lower by (1.11%) or 44.55 points at 3,980.04. The top losers in the index are HCL Tech down by (3.62%) to Rs.271.80 along with Infosys by (1.27%) at Rs. 2,038.90, TCS by (1.16%) to Rs. 520.90, Wipro by (1.07%) to Rs. 510 and Finance Tech by (0.49%) at Rs. 1,499.95.

Markets are trading at day’s high at Aug-13-2009 14:39

The stock markets continued it uptrend momentum and are now trading at day’s high. The sharp rally is seen across the board mainly led by the Realty, Metal, Auto, Capital Goods and Banking stocks. Further the positive opening of the European markets also boosted the sentiments. The broader market indices are also witnessing the buying momentum as both the BSE Mid Cap and the small Cap indices are now trading with a gain of more than 3% each.

India’s wholesale price index continues to its declining trend. Inflation fell to -1.74% for week ended August 1 as against -1.58% decline in the prior week.

The overall market breadth is positive as 2146 stocks are advancing while 499 stocks are declining in BSE.

Maruti Suzuki reported the top gainer from the BSE Sensex pack, as it is trading up by (6.47%) at Rs.1,374.45 followed by DLF trading up by (5.40%) at Rs. 393.25.

At 2.31PM the BSE Sensex is trading higher by 411.29 points at 15,431.45 and the NSE Nifty is trading higher by 123.60 points at 4,581.10.

The BSE Mid Cap increased by 164.76 points to 5,579.29 and the BSE Small Cap grew by 227.84 points to 6,362.77.

The Realty index is trading with gains of 217.34 points or 5.76% at 3,989.93. Leading from the gainers pack are Parsvnath trading higher by 9.96% at Rs. 120.35 along with Ansal Infra by 9.18% at Rs. 66, Penland by 8.60% at Rs. 82.10, Omaxe Ltd by 8.45% at Rs. 108.40, HDIL by 8.13% at Rs. 299.40, Mahindra Life by 5.70% at Rs. 323.35 and India bull Real by 5.19% at Rs. 243.

The Metal index is trading higher by 543.87 points or 4.49% at 12,648.96. Gainers from this pack are Gujarat NRE Coke trading up by 6.43% at Rs. 56.30 followed by Ispat Inds by 5.85% at Rs. 22.60, JSW Steel by 5.68% at Rs. 713.50, Jindal Steel by 5.13% at Rs. 3,122.05, Jai Corp Ltd by 4.98% at Rs. 220.20. Sterlite Inds by 4.75% at Rs. 653.50 and Tata Steel by 4.33% at Rs. 462.90,

The most active shares on NSE are FSL trading at Rs. 32.60 with a total traded quantity of 46439329 shares followed by Unitech trading at Rs. 93.90 with a total traded quantity of 45864220 shares.

Orchid Chemicals & Pharmaceuticals Ltd (Orchid) is trading up by 3.90% at Rs. 105.25. The company announced that it has received the final approval from the US Food and Drug Administration (US FDA) for its drug Sumatriptan Succinate tablets, 25. mg, 5.0 mg and 100 mg.

Adlabs films is trading up by 2.95% at Rs. 323.25. The Board of Adlabs Films Limited {Adlabs) approved raising an amount upto Rs. 600 crore (US $ 124 million) by way of rights offer of equity shares to the Company''s shareholders, subject to necessary sanctions and applicable provisions of law. The funds raised through Rights Issue would be utilized, inter alia, for expansion and growth opportunities including investment in various projects in India as well as overseas.

On the global markets front, the European markets are now trading higher as the FTSE 100, DAX and CAC 40 index are trading up by (0.96%), (0.90%) and (0.89%) respectively.

Market extended northward

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.

Mid Session Indian stock Market Commentary

The stock markets have gained further grounds and are trading strong due to optimistic cues both from the global as well as domestic markets. The improved outlook of the US economy by the Fed and the draft of new tax code unveiled by the government after the market hours yesterday have boosted the sentiments today. The strong buying continued across the board mainly led by the Realty, Metal, Capital Goods, Banking and Auto stocks. The broader market indices are also attracting significant buying attention and remained in demand today as BSE Mid Cap is now trading with a gain of more than 2.5% and the and the BSE Small Cap index with a gain of more than 3%. The BSE Sensex is now trading above the 15300 mark and the NSE Nifty above the 4550 mark.

ICICI Bank reported the top gainer from the BSE Sensex pack, as it is trading higher by (4.71%) at Rs.744 followed by Hindalco Industries trading up by (4.40%) at Rs.108.05.

The overall market breadth is positive as 2012 stocks are advancing while 447 stocks are declining and the 77 stocks remain unchanged on BSE.

At 12.31 pm, BSE Sensex was at 15,346.40 up by 326.24 points and the NSE Nifty was at 4,554.65 up by 97.15 points.

The BSE Mid cap is trading higher by 145.05 points at 5,559.58 and the BSE small Cap grew by 212.87 points to trade at 6,347.80.

L&T has signed a Rs 4,000-crore agreement to supply power equipment to Jaypee Group-promoted Jaiprakaskh Power Venture (JPVL). Under the agreement, L&T will supply boiler and steam turbine generator to a thermal power project in Nigrie, Madhya Pradesh. L&T is trading higher by (3.72%) at Rs. 1,475.

BHEL and Maharashtra energy utility Mahagenco has inked an MoU to set up a joint venture company which will construct a coal-fired 1,320 MW thermal power plant at Latur. The plan also envisages an alternative arrangement of setting up 1,500 MW gas-based power unit in the absence of an adequate coal linkage. The plan entails an investment of Rs 7,000-7,500 crore in the project. BHEl is now trading up by (2.78%) at Rs. 2,219.20.

BSE Metal index surged by 398.21 points to 12,503.30 as JSW Steel (5.28%), Jai Corp (4.98%), Ispat Industries (4.68%), Hindalco Industries (4.35%), Gujarat NRE (4.44%), Sterlite Industries (3.79%) and Jindal Steel (3.63%) are trading higher.

BSE Realty index jumped by 163.21 points to 3,935.90 as Penland (7.94%), HDIL (6.61%), Mahindra Life (5.26%), Unitech Ltd. (4.98%), Parsavnath Ltd. (4.16%) and DLF Ltd. (3.89%) and Omaxe Ltd. (3.35%) are trading higher.

BSE Capital Goods index surged by 352.71 points to 12,270.18. The main gainers are Elecon Eng. (6.06%), Praj Industries (4.81%), Havells India (4.16%), Everest Kanto (3.92%), L&t (3.39%) and ABB (3.50%).

BSE Bankex index is trading higher by 236.11 points at 8,243.06. The main gainers are Yes Bank (5.09%), ICICI Bank (4.76%), Kotak Bank (4.24%), Indus Ind Bank (3.94%), PNB (3.70%), SBI (3.45%) and IDBI Bank (3.28%).

BSE Oil & Gas index grew by 190.23 points to 9,712.52 as RNRL (4.27%), Aban Offshore (3.91%), Essar Oil (3.23%), ONGC (1.99%), Reliance Industries (1.90%), RPL (1.74%) and Gail India (1.58%) are trading in positive.

BSE Auto index is trading higher by 126.52 points at 5,516.24. The major gainers are Maruti Suzuki (4.03%), Hero Honda (3.92%), Ashok Leyland (3.52%), Bajaj Auto (2.82%), and Tata Motors (1.58%).

BSE IT index increased by 45.07 points to trade at 4,004.16 as HCL Technologies (5.05%), Rolta Ind (4.24%), NIIT Ltd. (2.41%), Tech Mahindra (1.78%), TCS (1.41%) and Financial Technologies (1.65%) are trading in green.

BSE Power index inclined by 61.94 points to 2,900.55 as Suzlon Energy (3.54%), Torent Power (2.10%), Reliance Power (2.17%), Tata Power (2.07%) and Power Grid (1.96%) are trading higher.

On the global markets front, the Asian markets are trading higher as the Hang Seng, Nikkei 225, Shanghai Composite and Straits Times index are trading up by (2.24%), (0.79%), (1.10%) and (1.91%) respectively.

Market bounced back smartly

After opening on a rousing note, the benchmark indices are continuously marching towards the northward backed by strong global cues impressive domestic industrial production data and the new direct tax code. On a stock specific move, PSL Ltd is trading higher by 10.85% after it bagged orders worth around Rs 500 crores from Gail for supplying quality pipes for Dahej-Vijaipur pipe line upgradation project. During the last hour, almost all the sectoral indices are trading with fair gains. Among the sectoral indices, the BSE Realty, Metal and Bankex indices jumped by 3.93%, 3.13% and 2.91% respectively. Overall the market breadth is positive as 1,758 stocks are trading in green while 351 stocks are in red.

At 11.30 AM, the BSE Sensex surged by 326.68 points at 15,346.84 whereas NSE Nifty up by 96.89 points at 4,554.4. Besides, the BSE Mid Cap and Small Cap is trading higher by 138.13 points and 196.95 at 5,552.66 and 6,331.88 respectively.

Gainers from the BSE Sensex Pack are ICICI Bank up by (4.06%) to Rs. 739.40, along with Hindalco Industries by (3.82%) to Rs. 107.45, Hero Honda Motors by (3.73%) at Rs. 1,492.20, SBI by (3.62%) at Rs. 1,764, Sterlite Industries by (3.27%) at Rs. 644.25 and Jai Prakash Associate by (3.24%) at Rs.221.15.

Gainers from the NSE Nifty Pack are Tata Communication higher by (4.79%) at Rs. 484.85 along with ICICI Bank by (4.77%) at Rs. 744, Unitech Ltd by (4.65%) at Rs. 92.35, National aluminium by (4.31%) at Rs. 320.95 and Hindalco Ind by (4.01%) at Rs. 107.7.

BSE Realty is trading higher by (3.93%) or 148.29 points at 3,920.88. The major gainers are Penland Ltd up by (10.12%) at Rs. 83.25 along with Unitech Ltd by (4.47%) at Rs. 92.30, Housing Dev by (4.32%) at Rs. 288.85, Parsvnath by (3.33%) at Rs. 113.10 followed by DLF Ltd by (3.14%) at Rs. 384.80.

BSE Metal is trading higher by (3.13%) or 378.72 points at 12,483.81. The top gainers in the index are Jai Corp up by (4.98%) to Rs.220.20 along with Ispat Industries by (4.22%) to Rs. 22.25, National Aluminium by (4.05%) to Rs. 320, Hindalco Industries by (3.82%) to Rs. 107.45, followed by JSW SL by (3.91%) at Rs. 701.55.

Stock Market Reports Headline : Indian Stock Markets opened significant higher.

The stock markets today opened sharply higher tracking optimistic cues from the US markets after Fed reassured of improved outlook for the economy. Further the markets also got a boost amid news of a new direct tax code unveiled by the government after the market hours yesterday. All the sectorial indices are trading in green in the opening trade. The Realty, Metal, Banking and FMCG stocks are fronting the rally today. The broader market indices also supporting the markets today and have outperformed the sectorial index in the opening trade as both the BSE Mid Cap and the BSE Small Cap indices are now trading with again of more than 2% each.

The BSE Sensex is now trading above the 15250 mark and the NSE Nifty above the 4500 mark in the early trade.

At 10.32 IST, the BSE Sensex is trading up by 241.65 points or (1.61%) at 15,261.81 and the NSE Nifty is trading higher by 74.60 points or (1.67%) at 4,532.10.

The BSE Mid Cap is trading higher by 108.74 points at 5,523.27 and the BSE Small Cap grew by 154.51 points or (2.52%) to 6,289.44.

ICICI Bank reported the top gainer from the BSE Sensex pack, as it is trading up by (3.81%) at Rs.737.65 followed by Sterlite Industries up by (3.81%) at Rs.737.65.

The Overall market breadth is positive as 1515 stocks are advancing while 319 stocks are declining and the 46 stocks remained unchanged on BSE.

The US stocks markets closed higher on Wednesday, backed by improved outlook from the Fed and a cheering housing report. The Federal Reserve kept its benchmark short-term interest rates steady near zero as expected and said it would likely stay there for an extended period. The existing home sales increased 3.8%. However, mortgage applications fell 3.5%. The Dow Jones Industrial Average (DJIA) ended up by 120.16 points at 9,361.61, NASDAQ index inclined by 28.99 points to 1,998.72 and the S&P 500 (SPX) closed higher by 11.46 points at 1,005.81.

Asian markets were trading higher today as the Hang Seng, Nikkei 225, Straits Times and Seoul Composite index are trading up by (1.96%), (0.98%), (1.56%) and (0.89%) respectively.

BSE Realty index advanced by 129.01 points or (3.42%) at 3,901.60. The top gainers are Unitech Ltd. grew by (4.70%) to Rs.92.50, DLF Ltd. inclined by (3.36%) to Rs.385.65, HDIL up by (3.30%) to Rs.286.05 followed by Omaxe Ltd. increased by (3.05%) to Rs.103.

BSE Metal index grew by 330.22 points or (2.73%) at 12,435.31. The top gainers are Jai Corp grew by (4.98%) to Rs.220.20, Nalco inclined by (4.54%) to Rs.321.50, JSW Steel increased by (3.86%) to Rs.701.20 followed by Sterlite Industries up by (3.83%) to Rs.647.75.

L&T has signed a Rs 4,000-crore agreement to supply power equipment to Jaypee Group-promoted Jaiprakaskh Power Venture (JPVL). Under the agreement, L&T will supply boiler and steam turbine generator to a thermal power project in Nigrie, Madhya Pradesh. L&T is trading higher by (2.41%) at Rs. 1,456.35.

BHEL and Maharashtra energy utility Mahagenco has inked an MoU to set up a joint venture company which will construct a coal-fired 1,320 MW thermal power plant at Latur. The plan also envisages an alternative arrangement of setting up 1,500 MW gas-based power unit in the absence of an adequate coal linkage. The plan entails an investment of Rs 7,000-7,500 crore in the project. BHEl is now trading up by (1.71%) at Rs. 2,196.05.