Helped by strong global markets, Indian indices are continuing
the rally and moving closer to their lifetime highs achieved
in May this year. Markets across Asia are trading with
very strong gains even as the US indices rallied yesterday
opened at 12359 and moved to a high of 12443. The index
is trading higher by 94 points at 12415 at 11.10 AM.
opened at 3572 and touched a high of 3604. The index is
now trading higher by 21 points at 3593.
and financial sector stocks are leading the rally from
the front once again. Most of the frontline stocks in
this sector are trading at, or very close, to their lifetime
highs. Hopes of declining interest rates and an extension
of the deadline for Basel II implementation are helping
is the best performer among index stocks, with gains of
more than 2 per cent. ICICI Bank has added nearly 2 per
cent and HDFC Bank is trading nearly 1.5 per cent higher.
has gained over a per cent while SBI and PNB has added
more than 0.5 per cent each.
goods stocks are firm in early trades, led by Siemens
which has added nearly 2 per cent. Suzlon has gained over
1.5 per cent.
has recovered from yesterday's correction and has added
more than 1.5 per cent.
Power has gained over 1.5 per cent on plans to set up
a 1,000 MW plant in Orissa.
pharma stocks, Sun Pharma has added more than 1.5 per
cent while Ranbaxy has gained close to 1.5 per cent.
Tech is the best performer among tech stocks, with gains
of around 1.5 per cent. TCS has gained more than 0.5 per
heavies, Reliance Industries and ONGC are trading with
gains of around 0.5 per cent each.
are only two losers among Nifty stocks in early trades.
Nalco has shed over 0.5 per cent while HPCL is trading
with marginal losses.
and small caps have also rallied in line with the overall
market movement. Most of the prominent mid-caps have moved
up further and the up trend in very broad based.
NSE mid-cap index is now trading with gains of over a
per cent. BSE mid-cap index has added 0.9 per cent and
the small-cap index has gained nearly a per cent. Market
breadth on the NSE is very positive in early trades with
more than 3 stocks advancing for every declining stock.
Services has had a poor listing on the exchanges today.
Issued at Rs200 per share, the stock opened at Rs204 per
share and touched a high of Rs234 on the NSE. The stock
has declined and is now trading with losses of 5 per cent
Newsprint and Bindal Agro are locked in the 20 per cent
upper circuit in early trades.
Biotech, Hikal, supreme Petro, United Phosphorous, Hyderabad
Industries, Micro Technologies and BPL are among the
major mid-cap gainers.
Publications, Pudumjee Agro, Tips Industries, Emami Limited,
Softpro Solutions and Schenectady Herdillia are the major