Date : Jan-16-2009 13:37
Market extended early gains, well above that psychological level of 9k mark, as fresh buying was seen in Index stocks. Recent news relating to Bank of America, newly nominated board member of Satyam and positive results from TCS supported the sentiments of the investors. However, concerns over economic slowdown, increasing number of job losses, stringent monitory policy, lack of liquidity, lower purchasing power parity and threat of depression are resisting the market to rally.
On the sectoral front, traders on-loaded position across sectors except Realty and IT. Auto stocks continues its northward direction on hopes lower interest rates and fall in fuel prices would boost demand for vehicles which are mainly driven by finance.
The Market breadth, indicating the overall strength of the market, was positive. On BSE, out of 2,314 stocks traded so far, 1,136 shares advanced while 1,097 shares declined. Nearly 81 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 164.6 points at 9,211.35 and NSE Nifty is up by 57.65 points at 2,794.35.
The BSE Mid Cap is trading higher by 7.7 points at 3,018.52 and Small cap is trading down by 0.23 points at 3,410.25.
Gainers from the BSE Sensex Pack are NTPC Ltd capitalized 5.24% to Rs. 175.75 along with Reliance Industries Ltd gained 4.30% to Rs. 1,192.50, R. Com 4.73% to Rs. 182.50, Reliance Infra 4.01% to Rs. 524.40, Bharti Airtel by 3.47% to Rs. 625.00, Tata Power by 2.73% at Rs. 757.40 and OCL by 2.50% at Rs. 640.50 among others.
Losers from the BSE Sensex Pack are DLF slumped 4.77% to Rs. 192.65 along with Wipro Ltd down by 1.83% at Rs. 231.00, TCS Ltd 1.47% to Rs. 502.50 and ACC Ltd by 0.90% at Rs. 498.00 among others.
The BSE Oil&Gas index is higher by 204.86 points or 3.63% at 5,850.89. Stocks trading in green are Reliance Industries Ltd gained 4.30% to Rs. 1,192.50, Gail India by 3.30% at Rs. 206.50, OCL by 2.50% at Rs. 640.50, Cairn Ind 2.41% to Rs. 153.20 and RNRL by 2.32% to Rs. 53.00 among others.
Satyam Computer Services galloped 18.72% to Rs. 24.10, on high volumes of 3.01 crore shares after Deepak Parekh, statement that if the cash-strapped company''s receivables come on time, it would not need any financial assistance from the government.
Reliance Industries Ltd gained 4.30% to Rs. 1,192.50, after announcement that it will start fuel exports from its new refinery this month. RPL, last month, commissioned its 5,80,000-barrels-per-day only for exports refinery at Jamnagar in Gujarat.
Oil and Natural Gas Corporation rose 2.71% to Rs. 641.85 on reports of investment of $5.3 billion in developing gas finds in two of its eastern offshore KrishnaGodavari basin blocks to produce 25 million standard cubic meters per day of gas by 2013.
Ranbaxy Laboratories slipped 0.35% to Rs. 215.25 despite it is planning to exit its Japanese joint venture - Nihon Pharmaceuticals Industry (NPI) by selling 50% stake after the Indian drug maker was acquired by Japanese drug major Daiichi Sankyo. The acquired company will sell the stake back to its Japanese partner Nippon Chemiphar.
DLF slumped 4.77% to Rs. 192.65 on reports it is planning to turn down its special economic zone (SEZ) plans, battered by low demand for real estate. The company is planning to start five of its SEZs after 2010 when demand revives.
Tata Consultancy Services fell 1.52% to Rs. 502.25 on posting a lower-than-expected rise in net profit in Q3 FY09.
Everest Kanto Cylinder gained 0.80% to Rs. 170.00 as board of directors will meet on 23 January 2009 to explore opportunities for buying back of foreign currency convertible bonds.
Punj Lloyd slipped 1.21% to Rs. 110.10 despite the company said a joint venture bagged an overseas order worth Rs 1311.19 crore. The company announced the overseas order win after trading hours on Thursday, 15 January 2009.
Hindustan Zinc declined 2.68% to Rs. 350.00, after the company lowered zinc prices by about 2%.
Power Finance Corporation''s fell by 0.76% to Rs. 131.05 despite net profit rose 5.76% to Rs 338.98 crore on 32.33% rise in total income to Rs. 1720 crore in Q3 December 2008 over Q3 December 2007.
Bajaj Finserv Ltd hit 4.99% lower circuit to Rs. 187.45 after reporting a 5.1% fall in net profit to Rs. 11.05 crore in Q3 December 2008 over Q3 December 2007.
Market extended early gains, well above that psychological level of 9k mark, as fresh buying was seen in Index stocks. Recent news relating to Bank of America, newly nominated board member of Satyam and positive results from TCS supported the sentiments of the investors. However, concerns over economic slowdown, increasing number of job losses, stringent monitory policy, lack of liquidity, lower purchasing power parity and threat of depression are resisting the market to rally.
On the sectoral front, traders on-loaded position across sectors except Realty and IT. Auto stocks continues its northward direction on hopes lower interest rates and fall in fuel prices would boost demand for vehicles which are mainly driven by finance.
The Market breadth, indicating the overall strength of the market, was positive. On BSE, out of 2,314 stocks traded so far, 1,136 shares advanced while 1,097 shares declined. Nearly 81 shares are unchanged.
At 1.30PM, the BSE Sensex is trading higher by 164.6 points at 9,211.35 and NSE Nifty is up by 57.65 points at 2,794.35.
The BSE Mid Cap is trading higher by 7.7 points at 3,018.52 and Small cap is trading down by 0.23 points at 3,410.25.
Gainers from the BSE Sensex Pack are NTPC Ltd capitalized 5.24% to Rs. 175.75 along with Reliance Industries Ltd gained 4.30% to Rs. 1,192.50, R. Com 4.73% to Rs. 182.50, Reliance Infra 4.01% to Rs. 524.40, Bharti Airtel by 3.47% to Rs. 625.00, Tata Power by 2.73% at Rs. 757.40 and OCL by 2.50% at Rs. 640.50 among others.
Losers from the BSE Sensex Pack are DLF slumped 4.77% to Rs. 192.65 along with Wipro Ltd down by 1.83% at Rs. 231.00, TCS Ltd 1.47% to Rs. 502.50 and ACC Ltd by 0.90% at Rs. 498.00 among others.
The BSE Oil&Gas index is higher by 204.86 points or 3.63% at 5,850.89. Stocks trading in green are Reliance Industries Ltd gained 4.30% to Rs. 1,192.50, Gail India by 3.30% at Rs. 206.50, OCL by 2.50% at Rs. 640.50, Cairn Ind 2.41% to Rs. 153.20 and RNRL by 2.32% to Rs. 53.00 among others.
Satyam Computer Services galloped 18.72% to Rs. 24.10, on high volumes of 3.01 crore shares after Deepak Parekh, statement that if the cash-strapped company''s receivables come on time, it would not need any financial assistance from the government.
Reliance Industries Ltd gained 4.30% to Rs. 1,192.50, after announcement that it will start fuel exports from its new refinery this month. RPL, last month, commissioned its 5,80,000-barrels-per-day only for exports refinery at Jamnagar in Gujarat.
Oil and Natural Gas Corporation rose 2.71% to Rs. 641.85 on reports of investment of $5.3 billion in developing gas finds in two of its eastern offshore KrishnaGodavari basin blocks to produce 25 million standard cubic meters per day of gas by 2013.
Ranbaxy Laboratories slipped 0.35% to Rs. 215.25 despite it is planning to exit its Japanese joint venture - Nihon Pharmaceuticals Industry (NPI) by selling 50% stake after the Indian drug maker was acquired by Japanese drug major Daiichi Sankyo. The acquired company will sell the stake back to its Japanese partner Nippon Chemiphar.
DLF slumped 4.77% to Rs. 192.65 on reports it is planning to turn down its special economic zone (SEZ) plans, battered by low demand for real estate. The company is planning to start five of its SEZs after 2010 when demand revives.
Tata Consultancy Services fell 1.52% to Rs. 502.25 on posting a lower-than-expected rise in net profit in Q3 FY09.
Everest Kanto Cylinder gained 0.80% to Rs. 170.00 as board of directors will meet on 23 January 2009 to explore opportunities for buying back of foreign currency convertible bonds.
Punj Lloyd slipped 1.21% to Rs. 110.10 despite the company said a joint venture bagged an overseas order worth Rs 1311.19 crore. The company announced the overseas order win after trading hours on Thursday, 15 January 2009.
Hindustan Zinc declined 2.68% to Rs. 350.00, after the company lowered zinc prices by about 2%.
Power Finance Corporation''s fell by 0.76% to Rs. 131.05 despite net profit rose 5.76% to Rs 338.98 crore on 32.33% rise in total income to Rs. 1720 crore in Q3 December 2008 over Q3 December 2007.
Bajaj Finserv Ltd hit 4.99% lower circuit to Rs. 187.45 after reporting a 5.1% fall in net profit to Rs. 11.05 crore in Q3 December 2008 over Q3 December 2007.
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