labels: stock markets - india, markets - general
14 March 11.10 AM: Indices trading with modest gainsnews
14 March 2006

An indifferent closing in the US yesterday and weakness across most Asian markets led to some pressure in early trades today. The indices slipped after opening marginally higher. After declining more than a third of a per cent each, the frontline indices have recovered in mid-morning trades.

The Sensex opened at 10797 and saw a high of 10851. The index is trading higher by 27 points at 10831 at 11.10 AM.

The Nifty opened at 3197 and saw a high of 3217 in early trades. The index is trading higher by 3 points at 3206.

Cement stocks are back in action after some weakness yesterday afternoon. ACC and Gujarat Ambuja have added 2 per cent each while Grasim has gained close to 2 per cent.

Dabur is the biggest gainer among index stocks, having gained close to 3.5 per cent. Among the other FMCG stocks, ITC and HLL have gained close to a per cent each. Colgate is another major gainer from this sector.

HCL Infosystems saw a massive surge in mid-morning trades and is now trading with gains of nearly 12 per cent.

HDFC, Nalco and Bajaj Auto are among the other major gainers.

Zee Tele is the biggest loser among index stocks, trading nearly 2 per cent lower.

Telecom stocks are seeing some profit booking after the recent rally. MTNL has lost 1.5 per cent while Bharti has given up close to 0.5 per cent. Reliance Communication Ventures is also trading with losses of close to 0.5 per cent.

Technology stocks have given up part of the gains from yesterday. Satyam is the biggest loser in the sector, trading lower by close to a per cent. Wipro has also shed over 0.5 per cent. TCS and Infosys are also trading lower.

Sun Pharma, OBC and SAIL are also trading lower today.

Mid-caps are doing better than the large stocks today morning. The mid-cap index has gained close to a third of a per cent. The market breadth is marginally positive.

RNRL is locked in the 10 per cent upper circuit today as well, taking the total gains to around 80 per cent in the last 6 trading sessions.

TTK Prestige, Bindal Agro and Calsoft are among the major gainers in mid-caps.

JK Cement, Ruby Mills and Vivimed Lab are among the mid-cap losers.


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14 March 11.10 AM: Indices trading with modest gains