Mid Session Market Analysis for Apr 13, 2011

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Mid Session Market Analysis for Apr 13, 2011
On Tuesday, the Indian benchmark indices have recovered from the early fall and presently trading firm on strong Asian peers and buying interest in the auto and capital goods stocks. A slide in crude oil prices from 2-1/2-year peak also helped ease macroeconomic concerns.

The broader market indices are trading with moderate gains as BSE Mid Cap and BSE Small Cap are trading up by 0.9% and 1.05% respectively. The key benchmark indices are trading firm with BSE 30-share Sensex above 19,470 mark, while Nifty is above the 5,840 mark.

At 12:34PM BSE SENSEX was at 19,470.16, up by 207.62 points or by 1.08 % and then NSE Nifty was at 5,841, up by 55.3 points or by 0.96 %.

The BSE MIDCAP was at 7,187.01, up by 63.44 points or by 0.89 %. while the BSE SMLCAP was at 8,801.71, up by 91.8 points or by 1.05 %.

The BSE Sensex touched intraday high of 19,504.58 and intraday low of 19,101.63 The NSE Nifty touched intraday high of 5,853.8 and intraday low of 5,735.55.

On the economic front, leaders of Brazil, Russia, India and South Africa have found common cause at a meeting of the so- called BRICS grouping of developing countries in China: push their host to import more than just commodities such as oil, soybeans and iron ore.

On the corporate front, IT and BPO services provider Hexaware Technologies shares rose 3.56% after the company announced a deal with its US-based financial services client that would help it generate $10-15 million in annual revenue.

Alstom Projects are trading higher, after reports quoting Alstom chairman & chief executive officer Patrick Kron stated that the French industrial engineering group Alstom is planning to tap Indian renewable energy market.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2,808, shares advanced were 1,768 while 929 shares declined and 111 were unchanged.

The top gainers of the BSE Sensex pack were Jaiprakash Associates Ltd. (Rs. 95.85,+4.53%), Hindustan Unilever Ltd. (Rs. 280.80,+2.67%), Housing Development Finance Corporation Ltd. (Rs. 706.25,+2.34%), Hero Honda Motors Ltd. (Rs. 1677.00,+2.31%), Tata Motors Ltd. (Rs. 1246.60,+2.24%), among others.

In BSE, BSE Auto index was at 9346.37 up by 151.7 points or by 1.65%. Bharat Forge Ltd. (Rs. 361.15,+2.53%), Apollo Tyres Ltd. (Rs. 66.90,+2.45%), Hero Honda Motors Ltd. (Rs. 1677.00,+2.31%), Tata Motors Ltd. (Rs. 1246.60,+2.24%), Maruti Suzuki India Ltd. (Rs. 1263.55,+2.08%),.

In BSE, BSE_CGS index was at 13809.1 up by 214.19 points or by 1.58%. Usha Martin Ltd. (Rs. 60.05,+4.98%), Siemens Ltd. (Rs. 872.35,+3.68%), BGR Energy Systems Ltd. (Rs. 536.50,+2.07%), BEML Ltd. (Rs. 737.70,+2.05%), Larsen & Toubro Ltd. (Rs. 1695.00,+1.90%).

The leading Asian bourses are trading mix as Hang Seng, Seoul Composite, Shanghai Composite and Nikkei 225 are trading up by 0.60%, 1.56%, 0.74% and 0.90% respectively.

Read more about: bse, nse, nifty, sensex
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