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Markets firm and steady
July, 09th 2010

The trading activity this morning has been an almost mirror image of the previous day's proceedings. Riding on supportive global cues, the bourses opened on a confident note for the second day in a row and have retained their gains thereafter. The Sensex is now quoting at 17,834, higher by 182 points and Nifty is at 5352, up 55 points. The midcap index is at 7328, higher by 76 points and the smallcap index is at 9309, up 73 points.

Telecom stocks continue to attract buying interest. Bharti Airtel remains the leading gainer on the BSE, having added 8.4% at Rs 304, MTNL has added 3.2% at Rs 67 and RCom has gained 2.9% at Rs 193. Idea Cellular has soared a whopping 12.8% at Rs 66 and Tata Teleservices has zoomed 5.5% at Rs 22.

In the realty space, Indiabulls Real Estate has strengthened by 3% at Rs 164 and DLF has gained 2.8% at Rs 290.

And the metal space has seen Hindalco advancing by 2.1% at Rs 148, Tata Steel gaining 2% at Rs 494 and Sterlite adding 1.7% at Rs 167.

On the other hand, TCS (weakened by 0.3% at Rs 773), Hindustan Unilever (shed 0.2% at Rs 265) and Cipla (lost 0.1% at Rs 338) are marginal losers among the Sensex-50 scrips.

The market breadth is positive. Out of 2801 stocks traded on the BSE, there are 1805 advancing stocks as against 908 declines.

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