Friday, April 11, 2008

Market trades strong

The 30-share BSE Sensex rallied further on emergence of fund-buying in heavy-weight shares, led by power and realty stocks. It touched a high of 15,957.24 in the noon trades.

Inflation vaulted to over three-year high of 7.41% for the week ended Mar. 29,2008 which will mount pressure on the Reserve Bank to further tighten money supply in its forthcoming annual credit policy later this month.

The Sensex is currently trading at 15,912.76, up 217.66 points, or 1.39%; while NSE Nifty is trading at 4,796.60, up 63.6 points, or 1.34% (12.44 p.m.).

Out of the total 2,535 stocks traded at the BSE, 1,610 advanced, 839 declined, while 86 remained unchanged.

Among the sectoral indices, BSE Power and Oil & Gas rose over 2% each, BSE Metal and Realty rose 1% each, BSE Auto rose 0.93%, BSE Bankex rose 0.56%, BSE IT rose 0.90%.

Gainers at the BSE Sensex were L&T soared 4.06% to Rs 2,787.00, BHEL, which rose over 3% to Rs 1,822.00 and RIL rose 2.85% to Rs 2,538.10. Satyam, REL, Hindalco, TCS, Tata Steel, RComm, DLF, Maruti and NTPC also moved up.

Losers at the BSE Sensex which include HUL, which declined 0.79% to Rs 238.10, Ranbaxy dipped 0.59% to Rs 448.00 and Grasim was down 0.39% to Rs 2,560.00.

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