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| Markets trade range bound |
| SI Reporter / Mumbai Sep 09, 2010, 12:01 IST |
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Altough the markets have started its upward movement, the sensex continues to trade in a range of 30 odd points. The Sensex is at 18,746, up 80 points and the Nifty has added 17 points at 5,624. The midcap index, up 0.8% and the smallcap index adding 0.6% continues to outperform the broader market at 0.4%.
Among the sectoral indices on the BSE, bankex up 1.5% continues to lead followed by Realty and PSU at 0.7%. IT, Oil & Gas, Health Care and Metal continues to trade in the red at the bottom of the chart.Auto index has pared some of its gains and is at 0.5%. the draggers in the metal area are Sterlite and Hindalco down 1%, Wel Corp and Sesa Goa shedding 0.7% each.
The shares of banking sector are in limelight on hopes that huge infrastructure investment in the coming days will give a push to credit growth in the second half of 2010-11.State Bank of India (SBI), ICICI Bank, HDFC Bank, Bank of India, Oriental Bank of Commerce, Canara Bank, Jammu and Kashmir Bank and Federal Bank are trading 2-4% higher on the BSE. SBI, Punjab National Bank, Oriental Bank of Commerce, Bank of India, Indusind Bank, Allahabad Bank and Canara Bank are trading at historic highs on the BSE.
Other than the banking scrips, the gainers on the Sensex are Mahindra & Mahindra,NTPC, Hindustan Unilever,BHEL,DLF,Hero Honda up 1% each.
The losers on the Sensex are Cipla and Sterlite down 2% each followed by ACC,Hindalco,Tata Power, Reliance Communications shedding 0.8% each.
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