Helped by the strong rally in US markets yesterday, markets
across Asia have rallied in early trades. The Sensex has
comfortably cruised to a new lifetime high.
opened at 13209 and touched a new all-time high of 13300.
The index is trading higher by 97 points at 13283 at 10.10
opened at 3812 and saw a new lifetime high of 3840. The
index is now trading higher by 23 points at 3832.
banking stocks are doing well in early trades. HDFC Bank
is the best performer with gains of nearly 2 per cent.
ICICI Bank has gained a per cent while OBC has recovered
and is trading a per cent higher
Reddy's has gained close to 1.5 per cent on speculation
about a European buy-out. Glaxo has also gained over a
techs, Infosys and Satyam have gained a per cent each
after the NASDAQ rally yesterday
Motors has recovered and has gained more than a per cent
and Suzlon are the other major gainers
marketing stocks remain weak on speculation about a cut
in retail fuel prices. Both BPCL and HPCL are down more
than a per cent each
Pharma and Zee are the only other losers among Nifty stocks
and small caps are once again doing far better than large
caps in early trades. Most of the frontline mid-cap stocks
are attracting very good buying interest as they are still
below their peaks touched in May this year.
NSE mid-cap index is now trading with gains of nearly
a per cent. BSE mid-cap has added 1.2 per cent and the
small-cap index is trading nearly 1.2 per cent higher.
Market breadth on the NSE is highly positive in early
Telecom, which got re-listed yesterday after a de-merger
and capital restructuring exercise, has gained another
15 per cent.
Infoline has added another 10 per cent after rallying
20 per cent yesterday.
Centum is locked in 10 per cent upper circuit for the
Sumi and Aban Offshore are among the major mid-cap
Balaji Tele, GVK Power, Surya Pharma and Gangotri Textiles
are the major mid-cap losers.