Positive global cues helped the key benchmark indices open higher today. However, the market exhibited some volatility as May 2008 series futures & options are set to expiry today. Auto and information technology stocks declined. Realty stocks were in demand.
At 10:20 IST, the 30-share BSE Sensex was up 31.38 points or 0.19% to 16,556.75. The index climbed 140.66 points at day’s high of 16,666.03, hit in the onset of trading session.
The broader based S&P CNX Nifty was up 3.4 points or 0.07% at 4921.75.
As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 57% as compared to 62% in the April 2008 to May 2008 series, as on 28 May 2008. The marketwide rollovers were healthy, at 62% as compared 61% in the previous series.
US crude fell 76 cents to $130.27 a barrel, while London Brent crude fell 83 cents to $130.10 a barrel today, 29 May 2008, as a strengthening dollar more than offset fears of supply disruptions in Nigeria.
Asian markets were trading higher today, 29 May 2008. Key indices in Japan, Hong Kong, Taiwan, Singapore and South Korea were up by 0.21% at 3.05%. However, China’s Shanghai Composite was down 0.33%.
US markets ended higher yesterday, 28 May 2008, after a volatile session led by better-than-forecast durable goods orders and positive financial results from select retailers. The Dow Jones industrial average gained 46 points to 12,594. The Nasdaq Composite index rose 5 points to 2,487. The S&P 500 index garnered 5 points to 1,390.10.
The market breadth was strong on BSE with 1120 shares advancing as compared to 434 stocks that declined. 36 stocks remained unchanged.
The BSE Mid-Cap index rose 0.79% to 6,807.18 and BSE Small-Cap index rose 0.69% to 8,294.20.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.33% at Rs 2530.
India’s largest private sector bank by assets ICICI Bank fell 0.79% at Rs 826.70.
India’s largest engineering and construction firm by revenue Larsen & Toubro fell 0.75% to Rs 2729.50. The company will declare its Q4 March 2008-ended quarterly results on today, 29 May 2008. The stock has fallen 9.92% to Rs 2709.10 in one month to Wednesday, 28 May 2008.
The top Sensex gainers were, Housing Development Finance Corporation (up 2.72% at Rs 2583), Jaiprakash Associates (up 1.57% at Rs 232.95), Wipro (up 1.23% at Rs 512.40), Reliance Communication (up 1.39% at Rs 559.25), and Tata Steel (up 1.09% at Rs 912.50).
Top Sensex losers were, Tata Motors (down 3.92% at Rs 609.85), ITC (down 1.87% at Rs 217.40), Infosys Technologies (down 1.66% at Rs 1880.90), Ambuja Cements (down 1.59% at Rs 102.45), Maruti Suzuki (down 1.25% at Rs 768.10).
Chambal Fertilisers & Chemicals was the top traded counter on BSE in terms of turnover. The stock was up 1.53% at Rs 89.80 on a turnover of Rs 45.15 crore.
A sharp fall in crude oil prices, firm global cues and short covering in late trade, propelled the market higher yesterday, 28 May 2008. The 30-share BSE Sensex rose 249.78 points or 1.53% at 16,525.37 and the broader based S&P CNX Nifty was up 58.55 points or 1.20% at 4918.35, on that day.
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