labels: stock markets - india, markets - general
23 Feb 01.10 PM: Indices hold firm; Nifty at new highnews
23 February 2006

After opening firm and recording new intra-day lifetime highs, both frontline indices are maintaining a firm trend.

The Sensex is trading higher by 62 points at 10286 at 01.10 PM.

The Nifty is doing even better and went past its early high. The index saw a new lifetime high of 3074 in early afternoon trades and is now trading higher by 21 points at 3072.

HLL has added to its early gains and is now trading close to 3.5 per cent higher. The stock continues to be the best performer among index stocks.

Dabur is another FMCG stock finding favour in today's trade. The stock is trading higher by nearly 3 per cent. ITC is also trading firm and has gained 1.5 per cent.

Steel stocks are holding on to their early gains on reports of steel prices firming up over the last couple of weeks. SAIL has gained over 2.5 per cent while Tata Steel has added nearly 2.5 per cent.

ONGC has added close to 2 per cent and is providing considerable support to Nifty.

L&T has given up part of its early gains but is still trading with gains of nearly 1 per cent.

NTPC continues to be firm and is now trading over 2.5 per cent higher. The company is due to price its bond issue, which received a good response, this week.

Zee Tele, Reliance Energy, Nalco and HPCL are the other gainers among index stocks.

HDFC Bank continues to be the biggest loser among index stocks and is trading nearly 2 per cent lower. MTNL has lost further ground and is trading over 1.5 per cent lower.

Heavyweights Reliance Industries and SBI have lost around a per cent each and are putting some pressure on indices.

Ranbaxy has declined further and has lost over 1.5 per cent while Dr. Reddy's has recovered and is trading higher by nearly 0.5 per cent.

PNB, IPCL, OBC, Gail and Grasim are among the large cap stocks trading lower today.

Mid-caps are holding on to their modest gains, unable to build momentum. Market breadth is once again moderately positive.

Inox Leisure is holding firm and is now trading at Rs187.5, a gain of 56 per cent from its issue price.

Micro Inks, Uttam Galva and Zenith Computers are among the major gainers in mid-caps.

Winsome Yarn, Visual Soft and Rain Calcining are among the mid-cap losers.

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23 Feb 01.10 PM: Indices hold firm; Nifty at new high