Local equity markets continue to trade in the green with holding on to most of their gains. Both the important benchmarks -- Bombay Stock Exchange's (BSE) Sensex and National Stock Exchange's (NSE) index Nifty have managed to hold on to their crucial psychological levels of 18,000 and 5,400 levels. On the global front, rest of the Asian markets are trading in mixed range; while the US index futures are trading in the positive terrain. Back home, capital goods, banking, consumer durables, oil & gas and technology counters witnessed maximum traction while realty, metal, auto, FMCG and public sector undertakings remained major laggards in the local markets. Index heavyweights such as RIL, Infosys, L&T, HDFC, ICICI Bank are providing the much needed fillip to the local markets; while ITC, SBI, DLF and Hindalco were trading lower. The mid-cap index of the BSE managed to hold on to its early gains while the small-cap index slipped in the negative terrain at this point of time; the BSE Mid cap index added 0.06%, while the Small cap index lost 0.04%. The market breadth on the BSE was marginally in favour of advances in the ratio of 1175:1125 while 111 scrips remained unchanged.
The BSE Sensex rose 67.96 points or 0.38% at 18,061.29. The index has touched a high of 18,109.05 and a low of 17,996.34, respectively.
The BSE Mid cap index added 0.06%, while the Small cap index lost 0.04%.
The top gainers on the BSE sectoral space were Capital Goods (CG) up 1.03%, Bankex up 0.93%, Consumer Durables (CD) up 0.75%, Oil & Gas up 0.62% and TECk up 0.41%.
On the flip side, Realty down 1.37%, Metal down 0.65%, Auto down 0.36%, FMCG down 0.34% and Public Sector Undertakings (PSU) down 0.28% were the only losers in the BSE sectoral space.
The top gainers on the Sensex were ICICI Bank up 1.73%, L&T up 1.52%, Cipla up 1.45%, RIL up 1.12% and HDFC up 0.99%.
On the flip side, DLF down 2.26%, Hindalco Inds down 1.96%, Rel Infra down 1.44%, M&M down 1.39% and HUL down 1.33% were the major losers on the index.
Meanwhile, India's crude steel production capacity swelled by 7.2% in the financial year 2010-11 to 78 million tonnes per annum (mtpa) compared to 72.76 mtpa in the previous year, according to the United Progressive Alliance (UPA), Report to the People 2010-11 released by the Prime Minister Manmohan Singh. The presser also highlighted that total output of crude steel stood at 68.32 mtpa during 2010.
The official statement opined that public sector steel companies performed well during the year and their combined profit after tax was Rs 8,605 crore during the period April-December 2010. The process of drafting a new National Steel Policy has been initiated and a five year strategy paper has been prepared for promotion of the steel sector. A policy paper on research and development has also been prepared with special focus on beneficiation, coal ash reduction and promotion of high grade value added steel in the country, the statement emphasized.
It also avowed that government in its bid to enhance the productivity, efficiency and competitiveness of the steel sector, has approved a number of innovative research and development proposals and research projects at a cost of Rs 442 crore.
Moreover, the Report to the People 2010-11 also underscored that the demand for major fertilizers in the country is on the rise and has been the highest during 2010-11. During the year approximately Rs 65,000 crore has been paid as subsidy to fertilizer companies to make subsidized fertilizers available to farmers at affordable prices.
The S&P CNX Nifty gained 18.40 points or 0.34% at 5404.95. The index has touched a high and a low of 5417.75 and 5384.85, respectively.
The top gainers on the Nifty were L&T up 1.64%, Cairn India up 1.59%, ICICI Bank up 1.57%, Ambuja Cement up 1.34% and HDFC up 1.23%.
On the flip side, Hindalco Inds down 2.25%, DLF down 2.22%, Sesa Goa down 1.86%, Rel Infra down 1.77% and HCL Tech down 1.67% were the major losers on the index.
Rest of the Asian markets were trading in mixed range. Hang Seng gained 0.10%, Nikkei 225 rose 0.12%, Straits Times increased 0.05%, Seoul Composite jumped 0.63% and Taiwan Weighted added 0.10%; while, Shanghai Composite dropped 0.41%, Jakarta Composite dipped 0.18% and KLSE Composite declined 0.07%.
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