The benchmark equity indices are trading firm in late afternoon session as positive cues from the other Asian markets, which have settled in green are providing support to the markets. European markets were also trading in green and US index futures too was trading in green as reports came out of Kuwait's Oil Minister statement about OPEC being in consultations regarding a potential output rise, though he added that there was no decision for the group to produce over quotas yet. However, Al-Sabah said he believed Saudi Arabia was already moving to boost its own production in response to the supply shortfalls from OPEC member Libya. Back home, in the sectoral space all the indices are trading in the positive territory, led by Information Technology, TECk, Metal, Bankex, and Consumer Durables shares. The NSE Nifty and BSE Sensex are surfing around 5,500 and 18,400 levels respectively. Today's market total volume is around Rs 81,000 crore which is very low volume compared to average volume. Broader markets were also trading strong, midcap and small cap indices were up 0.75% and 0.63% each. Market breadth was positive 1657 stocks advanced for 1077 stocks that declined while 127 stocks were unchanged.
Mahindra Satyam surged 3.92% as its Oracle Practice has signed a contract with OMRAN, in association with Bahwan IT, Mahindra Satyam's local partner in Oman to implement Oracle ERP. Mahindra Satyam and Oracle's solutions will support OMRAN at all levels and will help streamline the various units and enable an orderly growth of their business. Mahindra Satyam's implementation of the ERP system will include solutions across Finance, HRMS, Payroll and Procurement functions. This will help OMRAN standardize and automate business process across its unit, thereby enabling faster decision making, providing better service to all its stakeholders. The solutions will help automate most organizational functions and provide improved business process for OMRAN.
The BSE Sensex surged 175.52 points or 0.96% at 18,398.19. The index touched a high and a low of 18,455.76 and 18,266.62, respectively.
The BSE Mid-cap and Small-cap indices added 0.75% and 0.63%, respectively.
All the sectoral indices were trading in the green. Information Technology (IT) up 1.99%, TECk up 1.95%, Metal up 1.22%, Bankex up 1.16% and Consumer Durables (CD) up 1.06% were the major gainers in BSE sectoral space.
The top gainers on the Sensex were Bharti Airtel up 2.76%, Infosys up 2.64%, Tata Motors up 2.31%, ONGC up 2.08% and Bajaj Auto up 2.04%.
Hero Honda down 2.35%, Maruti Suzuki down 1.09%, ITC down 0.58% and L&T down 0.25% were the only losers on the index.
Hero Honda declined on the back of news flow on .Hero Investments would be buying Honda Motors' 26 percent stake in Hero Honda Motors for around $851 million in a deal that will see the Japanese automaker exit its joint venture in India after more than 26 years. Hero Investments has proposed to buy Honda's stake in the company at Rs 739.97 per share on March 22, 2011. The proposed price is at a significant discount to the current market price of Rs 1,499.
The S&P CNX Nifty advanced 49.10 points or 0.90% to 5512.25. The index touched a high and a low of 5526.15 and 5464.75, respectively.
The top gainers on the Nifty were Tata Motors up 2.81%, HCL Tech up 2.69%, Bharti Airtel up 2.67%, Infosys up 2.54% and ONGC up 2.29%.
Hero Honda down 2.66%, Cairn India down 1.43%, GAIL down 0.87%, Maruti down 0.76% and R Power down 0.65% were the major losers on the index.
The other Asian markets settle in green; Shanghai Composite advanced 0.15%, Hang Seng increased 1.71%, KLSE Composite added 0.11%, Nikkei 225 advanced 0.19%, Strait Times gained 1.01%, Seoul Composite rose 0.81%, Taiwan Weighted soared 0.39% and Jakarta Composite trimmed 0.17%.
All the European markets were marginally trading in green. FTSE increased 0.04%, DAX surged 0.50% and CAC-40 advanced 0.09%.
Unit-8, 3rd Floor, First Mall, The Mall, Ludhiana-141001, Punjab (INDIA).
| To unsubscribe or change subscriber options visit: http://www.aweber.com/z/r/?TJzsLEwstCyc7OysHMyctEa0nExs7OzsTA==  |
Posts
0 comments:
Post a Comment
Note: only a member of this blog may post a comment.