Market firm ahead of positive cues from international market
| The key benchmark indices are continuously trading with strong buying sentiments in line with its Asian peers after encouraging U.S. job and consumer data boosted the sentiments that the world”s largest economy is recovering. In addition to this, Prime Minister Manmohan Singh’s statement that the economy would grow by at least 8% in the year through March 2011 last week also helped institutional buyers to take fresh positions in large cap stocks. Almost all the sectoral indices in the BSE are trading in green. BSE Realty, Auto and IT stocks are leading the race with the gain of 1.61%, 1.44% and 0.93% respectively. Overall market breadth is positive as out of total 2,361 stocks traded in the BSE, 1806 stocks advanced, 506 declined while 49 remain unchanged.
At 10.30 IST, the BSE Sensex is trading higher by 156.23 points or by (0.91%) at 17,150.73 and the NSE Nifty is trading higher by 45.19 points or by (0.88%) at 5,133.9. The BSE Mid Cap is now trading up by 71.1 or by (1.05%) at 6,806.59 and the BSE Small Cap is trading up by 120.38 points or by (1.41%) to 8,620.03. Zee Entertainment Enterprises is trading higher by 2.44% after a news that company is likely to acquire 9X for over Rs 60 crore say reports. Jaiprakash Associates is trading higher by 2.09% at Rs 149.20 after a report that company’s cement sales rose 60% in February’10 from a year ago. Suzlon Energy is trading higher by 1.37% at Rs. 81.55 after a news that Mangalam Cement has finalized order of Rs 39 crore with Suzlon Energy for installation of 6 wind mills of 1.25 MW each (total capacity 7.5 MW), at Jaisalmer. Gainers from the BSE Sensex pack are Mahindra and Mahindra surged by (3.44%) at Rs. 1,112.90, followed by Hero Honda up by (2.48%) at Rs. 1,902.10, ICICI Bank up by (2.16%) at Rs. 921.30, Jaiprakash Associate up by (2.12%) at Rs. 149.25 and Wipro surged by (1.57%) at Rs. 697.50, BSE Realty index was at 3,515.86 up by 55.67 points or by (1.61%). The main gainers were Phoenix Mills up by (3.45%) at Rs. 196.60 followed by Anant Raj up by (2.91%) at Rs. 130.75, Orbit Corp up by (2.39%) at Rs.267.8, Sobha Dev up by (2.26%) at Rs. 283.4 and Ackruti City up by (2.19%) at Rs. 543.05. BSE Auto index was at 7,662.08 up by 108.88 points or by (1.44%). The main gainers were Mahindra and Mahindra by (3.44%) at Rs. 1,112.90 followed by Exide Industries up by (3.07%) at Rs. 112.55, Hero Honda up by (2.42%) at Rs. 1,901, MRF up by (1.63%) at Rs. 6,211.5 and Tata Motors up by (0.89%) at Rs. 802.35. The Asian stocks markets are trading higher as Hang Seng, Straits Times, Seoul Composite and Nikkei 225 indices are trading up by (1.92%), (1.27%), (1.36%) and (1.86%) respectively. |
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