Mumbai: Investors are in a rush to pick up shares of Reliance Industries, SBI, HDFC Bank, TCS, L&T and HDFC. Prices of these stocks are up in the 1.6 per cent-3 per cent range. The 30-share BSE Sensex index surged 209 points to 17,071 and the 50-share NSE Nifty was trading at 5,129, up 65 points.
Global markets moved up further; European indices futures like France's CAC, Germany's DAX and Britain's FTSE were trading 2.5 per cent higher. Dow Jones futures gained 1 per cent.
Heavyweight Reliance Industries and SBI rose 1.6 per cent and 3 per cent, respectively. L&T, HDFC and Wipro gained 1.9 per cent each.
TCS, NTPC and ICICI Bank went up 1.4 per cent each. HDFC Bank rallied nearly 3 per cent. Among other largecaps, Bharti Airtel and ONGC moved up 0.5-1 per cent.
Biggest gainers - Tata Power, ACC, Jaiprakash Associates, Ambuja Cements, HCL Tech and Reliance Communications shot up 4-7 per cent.
However, ITC, Sun Pharma, M&M, Hero Motocorp, Tata Motors and Dr Reddy's Labs were only losers; these stocks fell 0.3-0.9 per cent.
Among midcaps like IVRCL, Sterlite Tech, Tata Investment Corp, Educomp Solutions and Prism Cement rallied 5-7 per cent.
In the smallcap space, Vascon Engg, Ajmera Realty, Parekh Aluminex, SML Isuzu and Jai Balaji Ind lost 11-15 per cent.
At 11:30 hours IST : Sensex holds on to gains; Everonn, SBI most active
Indian equity benchmarks held on to the gains supported by financial, oil & gas, power, capital goods, metal, ADAG and cement stocks. However, profit booking continued in auto stocks. The 30-share BSE Sensex was trading at 17,002, up 139 points and the 50-share NSE Nifty rose 43 points to 5,107.
Among largecaps, Jaiprakash Associates and ACC shot up 5-6 per cent. Tata Power, Hindalco, SBI, Coal India, Ambuja Cements and HCL Tech jumped 2-3.5 per cent.
However, Infosys, ITC, Sun Pharma, Tata Motors, Maruti Suzuki and Hero Motocorp declined 0.6-1 per cent.
Everonn Education, SBI, Tata Coffee, Educomp Solutions, Reliance Industries, Infosys and ICICI Bank were most active shares on exchanges.
In the midcap space, Sterlite Tech, IVRCL, Educomp Solutions, SKS Microfinance and KEC International rallied 5-7 per cent. However, KGN Industries, Anant Raj Industries, TTK Prestige, Petronet LNG and Jain Irrigation fell 1.5-5 per cent.
In the smallcap space, Ajmera Realty, Vascon Engg, Parekh Aluminex, Jai Balaji Industries and Bodal Chemicals surged 9-15 per cent while Sical Logistics, Oriental Hotels, Prabhav Industries, Prraneta Industries and Shri Ganesh slipped 5-9 per cent.
Three shares gained for every share falling on NSE.
Asian markets gained further; Shanghai, Hang Seng, Nikkei, Straits Times and Taiwan moved up 1.5-2 per cent. Kospi surged 3.5 per cent.
At 10:21 hours IST : Nifty extends gains; SBI, HDFC Bank, HDFC rally 2 per cent each
Benchmarks Nifty and Sensex extended gains along with rest of Asia. The 30-share BSE Sensex was trading at 17,030, up 167 points and the 50-share NSE Nifty surged 48 points to 5,113. The broader indices too gained 1 per cent.
Among Asian markets, Kospi jumped nearly 3 per cent. Shanghai, Hang Seng, Nikkei, Straits Times and Taiwan went up 1-1.8 per cent. The Dow Jones futures gained 44 points ahead of President Barack Obama speech today.
Financials were leading the market. SBI, HDFC Bank and HDFC rallied 2 per cent each. ICICI Bank, Kotak Mahindra Bank and PNB rose 1 per cent each.
ACC, Tata Power and Jaiprakash Associates were biggest gainers; these stocks jumped 4-5 per cent.
Among other largecaps, ONGC, Reliance Industries, L&T, Wipro, SAIL and DLF gained 0.9-1.8 per cent. Bharti, NTPC and BHEL were up 0.5 per cent.
However, auto stocks were witnessing profit booking. Tata Motors, Hero Motocorp, M&M, Maruti and Bajaj Auto fell 0.3-0.7 per cent.
ITC, Infosys and JSPL were down 0.5-1 per cent.
At 9:18 hours IST : Sensex hits 17000, Nifty reclaims 5100 in opening trade
Equity benchmarks continued to gain on the back of positive Asian cues, and sharp recovery in the US markets. The Nifty has hit the 5100 level while the Sensex touched the 17,000 mark in the opening trade.
Banking, oil & gas, power and select technology stocks were supporting the market. At 9:17 hours IST, the 50-share NSE Nifty was up 36 points at 5,101 and the 30-share BSE Sensex gained 139 points at 17,002.
Jaiprakash Associates gained 2.5 per cent on the back of buzz of stake sale in cement business.
HCL Tech, Cairn India, Reliance Capital, SAIL, ICICI Bank, ACC, SBI, Reliance Industries, DLF, JSPL, Bajaj Auto, Bharti Airtel, Kotak Mahindra Bank, Tata Steel and Hero Motocorp were leading the market.
The CNX Midcap rose 55 points to 7,453. The Nifty Junior jumped 77 points to 10,229.
Pipavav Shipyard jumped 3 per cent as company raised Rs 160 crore by issuing convertible warrants at Rs 78 a share.
Tata Coffee, Mangalore Chemical and 3i Infotech gained 3.5 per cent each. Shree Renuka Sugar rallied 4 per cent on stake sale buzz.
IVRCL and Escorts rose 2 per cent each. SKS Microfinance was locked at 5 per cent upper circuit for third consecutive session.
However, Everonn Education fell 6 per cent, though it showed some recovery from day's low (it has been falling since Friday - it lost over 50 per cent). Mahindra Satyam was down 1 per cent.
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