Market continues its thrust on 10/6/2009:)

Market continues its thrust

Market continues its thrust

After a spectacular opening, the key benchmark indices extended gains on sustained buying by foreign funds.

Foreign funds bought shares worth Rs. 955.31 crore on Tuesday 9 June 2009.

Indian stocks roared on expectations that ample liquidity in pipeline and a return of risk appetite will nudge India Inc corporate profits. India Inc has already raised almost Rs. 5,000 crore from three qualified institutional placements (QIPs) so far in 2009 and announced plans to raise another Rs 20,000 crore.

On the sectoral front, out of 13 Indices, all were traded in green.

Oil stocks advanced as crude oil surged towards $71 a barrel for the first time in seven months on a larger-than-expected fall in crude oil stocks and a view that falling oil demand may have bottomed.

IT stocks fell on stronger rupee.

Banking stocks gained on reports the Reserve Bank of India may standardize the way banks calculate their prime lending rates (RLRs) and bar them from lending below their respective PLRs for more transparency.

Metal stocks gained as six metals traded on the London Stock Exchange jumped 3.8% overnight.

The Market breadth, indicating the overall strength of the market, was strong.

On BSE, out of 2,717 stocks traded so far, 1,411 shares advanced while 1,241 shares declined. Nearly 65 shares are unchanged.

Major gainers from the BSE Sensex pack are

Wipro Ltd 5.96% to Rs. 449.00, along with,

Tata Power Ltd spurted 5.70% to Rs. 1,205.35,

HDFC Bank Ltd spurted 5.66% to Rs. 1,495.50,

Larsen & Toubro 4.97%% to Rs. 1,652.00,

Reliance Infrastructure Ltd by 4.76% to Rs. 1,204.00,

Sterlite Industries Ltd by 4.61% to Rs. 684.00,

ONGC Ltd by 4.30% to Rs. 1,180.00,

Hindustan Uniliver Ltd rose 3.74% to Rs. 266.00 and

Bharti Airtel Ltd 3.17% to Rs. 838.55 among others.

Losers from the BSE Sensex Pack are

DLF Ltd plunged 0.98% to Rs. 398.75 along with

Tata Motors Ltd fell 0.68% to Rs. 366.00,

State Bank of India 0.41% to Rs. 1,756..00 and

Sun Pharmaceuticals Ltd by 0.36% to Rs. 1,331.00 among others.

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