Market above the 4800 on Nifty
Feb-09-2010 13:12

The market gains further ground to trade on a strong note, witnessing a sudden upsurge. As majority of the Asian indices traded weak amid budget deficit concerns in Europe which may hamper global economic recovery, the India market followed suit and open in a lower note. It managed to move above the neutral line, but traded volatile in a narrow range, while struggling to move above the 4800 Nifty levels. Asian markets were still trading mixed. The European markets� opening will decide further direction for the market.

On the sectoral front, out of 13 Indices, 9 indices advanced whereas 4 declined. IT played the major role in driving the market up. TECk, Auto, Healthcare and FMCG were among the other significant gainers. However, Realty, Metal, Oil & Gas and PSU sectors were looking weak at the moment.

The market breadth showing overall strength in the market, was positive at the moment. On BSE, out of 2,731 stocks traded so far, 1,567 stocks advanced whereas 1,075 stocks declined. 89 stocks were unchanged.

At 1:13 PM BSE SENSEX was at 16,070.52 up by 134.90 points or by 0.84% and the NSE Nifty was at 4,804.60 up by 44.20 points or by 0.92%.

The BSE MIDCAP was at 6,460.48 up by 30.11 points or by 0.46% and the BSE SMLCAP was at 8,241.44 up by 50.24 points or by 0.61%.

Gainers from the BSE Sensex pack were Wipro trading up by 2.61% at Rs.653.20 followed by ACC by 2.51% at Rs.863.00, Grasim Inds by 2.46% to Rs. 2621.50, Infosys by 2.36% at Rs.2457.30, TCS by 1.88% at Rs.737.40, Hero Honda by 1.79% at Rs.1612.05, Bharti Artl by 1.33% at Rs.312.40, Tata Motors by 1.22% at Rs.681.85 and Tata Power by 0.83% to Rs. 1296.70 among others.

Losers from the BSE Sensex pack were DLF trading lower by 2.39% at Rs. 304.00 followed by Hindalco Inds by 1.14% at Rs.134.55, Reliance Infra by 1.04% at Rs. 1029.00, Maruti Suzuki by 0.79% at Rs. 1356.25, HDFC by 0.70% at Rs.2381.25, HUL by 0.70% at Rs.233.60, Reliance Comm by 0.59% at Rs.167.70, RIL by 0.56% at Rs.990.80 and HDFC Bk by 0.23% at Rs.1563.05 among others.

BSE IT index was at 4961.92 up by 111.29 points or by 2.29%. The major gainers were Patni Comp climbing by 5.35% at Rs. 480.90, Mphasis by 2.80% at Rs. 727.00, Wipro by 2.52% at Rs.625.65, Infosys by 2.49% at Rs. 2460.50, HCL Tech by 2.07% at Rs. 348.45, TCS by 2.07% at Rs. 738.75, Financial Tech by 1.98% at Rs. 1420.00 and NIIT by 1.60% at Rs. 66.80.

BSE REALTY index was at 3,297.78 down by 32.40 points or by 0.97%. The major losers were Indiabulls Real Est declining by 2.93% at Rs. 167.50, Parsvanath Dev by 2.13% at Rs. 121.65, DLF by 1.85% at Rs. 305.70, Unitech by 1.26% at Rs. 70.55, HDIL by 1.04% at Rs. 304.85, Phoenix Mills by 1.03% at Rs. 197.00 and Orbit Corp by 0.97% at Rs. 249.90.

Pantaloon Retail (India) Ltd gained 1.82% to Rs. 419.00, on reports that the company is planning to merge five of its brands with Capital foods in order to consolidate the foods businesses under one company.

L&T Ltd surged 0.72% to Rs. 1,455.15, on reports that the company has grabbed Rs. 582 crore for executing electrical projects, from various customers in India and UAE.

Parle Software Ltd zoomed 3.52% at Rs. 82.40, on reports that the company has acquired 45.83% stake in the capital of Hazoor Township Developers Pvt. Ltd., which is a subsidiary of Hazoor Multi Projects Ltd., a Real Estate major.