The markets have given up some of its morning gain but still witnessing buying interest and getting support from capital goods, pharma, metal, FMCG and technology stocks while ignored selling in power, realty, oil & gas and banking stocks. Market breadth is in the favour of declines, 493 shares advanced while 708 shares declined on the NSE. On the global front, Asian markets ended higher barring Taiwan. European markets were trading higher.
At 1:13 pm, the Sensex was up 88 points at 16,404 and the Nifty up 24 points at 4,859. Midcaps and small cap indices were flat.
Top gainers were Ranbaxy, HDFC, BHEL and Dr Reddy's Labs while JP Associates, Ambuja Cements, ICICI Bank, Hero Honda and PNB losers.
Markets @ 11:59 am: Mkts northbound, ignore higher inflation numbers
The markets have maintained its uptrend and ignored higher inflation numbers, which was way above market estimated figures. Inflation stood at 8.1% for the week ended May 17 as against 7.82% in previous week.
Market estimated at around 7.91%. Buying interest continued in capital goods, pharma, metal and FMCG while selling in power, banking and oil stocks.
At 11:59 am, the Sensex was up 115 points at 16,431 and the Nifty up 45 points at 4,880. Market breadth is negative, 551 shares have advanced while 625 shares declined.
Finance Minister P Chidambaram said that 8.1% inflation is worrisome and that will be contained over a period of time. There is no reason for GDP to go below 8.5% in FY09.
Top gainers were Ranbaxy Labs, L&T, HDFC, BHEL and Tata Comm while lowers - Ambuja Cements, ICICI Bank, Reliance, Satyam and PNB.
Capital Goods and Healthcare indices shot up over 2.5%; Metal up over 1.5% and FMCG up nearly 1%. However, Power fell nearly 3%, Bankex and Oil & Gas down over 0.6%.
Reliance Power (Ex-Bonus) has slipped around 36.3% at Rs 246 as against previous close of Rs 386.16 on the BSE.
L&T, Reliance, Ranbaxy, Tata Steel, Infosys and ICICI Bank were most active counters.
Markets @ 10:49 am: Mkts firm; CG, pharma, metal stks up, power, banks down
The markets are trading higher on the back of buying interest in capital goods, pharma, metal and FMCG. However, selling pressure has seen in power, oil and banking stocks. Midcap and small cap indices were flat. Market breadth is negative. On the global front, Asian markets were trading higher barring Taiwan, Shanghai.
At 10:49 am, the Sensex was up 89 points at 16,405 and the the Nifty up 35 points at 4,870. About 1337 shares have advanced, 1566 shares declined, and 207 shares are unchanged.
Top gainers were Ranbaxy, L&T, HDFC and Sterlite Industries while ICICI Bank, Wipro, Reliance and PNB losers.
Capital Goods Index went up 2.5% as buying seen in L&T, Alstom Projects, Punj Lloyd, BHEL and ABB.
Healthcare Index shot up over 2% due to gain in Ranbaxy Labs, Aventis Pharma, Dr Reddy's Labs, Sterling Bio, Sun Pharma and Cadila.
Metal stocks like Hindalco, JSW Steel, Sterlite, Jindal Saw, Tata Steel and SAIL have gained. The BSE Metal Index was up 1.25%.
FMCG Index was up over 1% as buying seen in Godrej Consumer, Dabur India, HUL, Britannia, Colgate, Marico and ITC.
However, power stocks like Reliance Power, Powe Grid Corp, Reliance Infra, Reliance Petro and Areva T&D have lost ground. The Power Index lost 2.7%.
Most active shares on the bourses were Reliance Power, L&T, IFCI and Reliance Industries.
Markets @ 9:56 am: Mkts bounce back in opening trade
The markets have recovered yesterdays losses and opened higher following positive cues from US markets and major Asian markets. Buying has seen in capital goods, power, telecom, banking and metal stocks. Market breadth is positive. Midcap and small cap stocks are in green.
Tata Motors, L&T, Sterlite, Ambuja, BHEL, Tata Power, HDFC, ITC, Bharti and Reliance Comm were gainers. However, Wipro, Satyam, Infosys and GAIL were some of the losers.
At 9:56 am, the Sensex was up 97 points at 16,412 and the Nifty up 38 points at 4873.
Reliance opened at Rs 308.95 ex-bonus and then the stock sliped to 263.15 , down 31.65%.
Asian markets were trading higher barring Shanghai, Jakarta and Taiwan.
US markets advanced for a third straight day. The rally was lead by strength in the financial sector and a big decline in oil prices.The Dow Jones industrial average advanced 52.19 points, or 0.41%, to 12,646.22. The Standard & Poor's 500 index rose 7.42 points, or 0.53%, to 1,398.26, and the Nasdaq composite index gained 21.62 points, or 0.87%, to 2,508.32.
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