The 30-share index, BSE Sensex was trading in a powerful manner since morning as heavy buying action was witnessed across banking, real estate, capital goods, power, metal and IT stocks.

BSE Midcap and Smallcap index gained 1.96% & 1.44% respectively.

The BSE Sensex today (August 29) opened with a gain of 230.68 points at 14,279.02.

At present (12:54 pm), the 30-share index Sensex stood at 14,513.92, up 465.58 points, after hitting a high of 14,549.57 and a low of 14,279.02.

Stock market analysts have maintained ‘buy’ rating on ICICI Bank with an intraday target of 650.

According to them, interested traders can purchase the stock above Rs 635 with a strict stop loss of Rs 630. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 660.
 

Stock market analyst E. Mathew has maintained ‘buy’ rating on Reliance Capital stock with an intraday target of 1312.

According to Mr. Mathew, interested traders can purchase the stock on declines near Rs 1264-1252 with a strict stop loss of Rs 1231. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 1319.
 
Shares of the company, on Thursday (Aug 28), closed at Rs 1284.55 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 1946750. Current EPS & P/E ratio stood at 42.74 and 31.22 respectively. The share price has seen a 52-week high of Rs 2925 and a low of Rs 822.50 on BSE.

Stock market analysts have maintained ‘buy’ rating on Tata Steel stock with an intraday target of Rs 595.

According to them, interested traders can purchase the stock above Rs 580 with a strict stop loss of Rs 570. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 600.
 

Technical analyst Vishwas Agarwal stated that some trading action is possible, on Friday (August 29), on the Bombay Stock Exchange (BSE) above the 14,150 level, as inflation numbers for the week ended Aug 16, 2008, came below hope in a surprising manner.

He also said that the upbeat mood in the international markets will help some recovery of the stock markets.

Indian equities closed on a negative note on Thursday, Aug 28 because of intense selling pressure witnessed across capital goods and oil & gas stocks on August series F&O expiry day.

In the meantime, some profit booking was also seen in heavyweights including RIL, RComm, Hindalco and increasing crude oil rates in global market also weighed down the reaction of the stock market.

After starting the day on a pessimistic note at 14,289.97, down 6.82 points, the stock index remained weak during the whole day.