Market momentum intact; oil&gas stocks soar May 29, 2009
Posted by dhirendra08 in Biggest SEnsex Gainers, Edged Lower, Extremely Strong, Index Touch, Previous Session.Tags: 's Sensex, Bombay Stock Exchange, BSE Capital Goods, BSE Midcap Index, BSE Realty, BSE Smallcap Index, Gas, Healthcare Stocks, Inflation, Interest rates, National Stock Exchange, Oil, Oil Price Deregulation, Realty Stocks
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Good morning friends. The market mood remained upbeat in afternoon trade spurred by advances in the oil & gas space amid reports that oil price deregulation may be on the cards. Realty stocks were in demand as well on hopes that interest rates may soften given sub-1% inflation. Healthcare stocks, however, edged lower.
At 1:25 pm, Bombay Stock Exchange’s Sensex was trading at 14,650.01, higher by 2.48 per cent or 354 points from the previous session. The index touched a high of 14,692.82 and low of 14,319.87 in trade so far.
National Stock Exchange’s Nifty rose 2.75 per cent or 119.45 points to 4456.55. The index climbed a high of 4471.80 after opening at 4340.75.
The BSE Midcap Index climbed 2.44 per cent and BSE Smallcap Index rose 2.88 per cent.
Sectorwise, BSE Oil & Gas surged 4.19 per cent, BSE Realty climbed 4.04 per cent and BSE Capital Goods rose 3.42 per cent.
Biggest Sensex gainers comprised Mahindra & Mahindra (8.2%), ACC (7.04%), Jaiprakash Associates (6.02%), ONGC (5.77%), Tata Steel (5.03%) and Tata Consultancy Services (4.4%).
Sun Pharmaceuticals (-7.91%), Grasim Industries (-1.2%) and Tata Power (-1.09%) were the only losers in the 30-share index.
Market breadth on BSE was extremely strong with 2213 advances against 487 declines. – The Economic Times
