The key indices opened with an upward gap tracking advances in overseas markets. IT stocks extended gains for the third straight session. All the sector indices on BSE are positive.
The market is keenly awaiting key inflation data, due to be released this afternoon, which may decide the course of the market movement in the latter part of the day. The alarming rise in inflation has been a cause of concern for the past few weeks, since it crossed the Reserve Bank of India’s caution limit of 5%.
US stocks vaulted higher on Wednesday, 16 April 2008, after Intel Corp, JPMorgan Chase & Co and other blue chips reported earnings that reassured investors worried that a weak economy would sap corporate profits.
Asian markets, which opened before Indian market, were mostly in green. Key indices in Taiwan, South Korea, Singapore, Japan, and Hong Kong were up 0.55% to 2.03%. However, China’s Shanghai Composite was down 0.12%.
At 10:20 IST, the 30-share BSE Sensex was up 187.79 points or 1.16% at 16,431.98. The Sensex gained 290.65 points at day’s high of 16,534.84, hit at the onset of the trading session.
The S&P CNX Nifty was up 53.45 points or 1.09% at 4940.75.
The market remains closed tomorrow, 18 April 2008, on account of Mahavir Jayanti.
The BSE Mid-Cap index was up 1.43% at 6,794.70 and the BSE Small-Cap index was up 1.36% at 8,464.55.
The market breadth was strong: on BSE, 1425 stocks gained, 319 stocks declined and 33 stocks were unchanged.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 1.03% at Rs 2672.
India’s largest private sector bank by assets ICICI Bank was up 1.75% at Rs 830.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 1.34% at Rs 2836.
India’s second largest software exporter by sales Infosys Technologies gained 2.64% at Rs 1642. The stocks is on a rise since Tuesday, 15 April 2008, when the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007. The stock advanced 12.47% to Rs 1,599.95 on Wednesday, 16 April 2008 from Rs 1,422.45 on Friday, 11 April 2008.
The top Sensex gainers were, Satyam Computer (up 2.54% at Rs 465.60), DLF (up 1.93% at Rs 634), HDFC Bank (up 1.65% at Rs 1327.20), TCS (up 1.63% at Rs 990), Housing Development Finance Corporation (up 1.67% at Rs 2424) and Wipro (up 1.06% at Rs 452.10).
Orchid Chemicals & Pharmaceuticals was the most active stock on BSE in terms of turnover. The Orchid stocks clocked a turnover of Rs 70.42 crore, while the stocks was up 1.55% at Rs 324.
No comments:
Post a Comment