labels: stock markets - india, markets - general
20 March 01.10 PM: Indices hold on to early gains; Tech stocks rallynews
20 March 2006

Markets are maintaining the higher levels seen earlier in the day. The indices are finding strength from the uptrend in metal and cement stocks while the technology sector is seeing considerable interest in early afternoon trades.

The Sensex is trading higher by 59 points at 10919 at 01.10 PM.

The Nifty saw a new lifetime intra-day high of 3263 before noon and is trading higher by 23 points at 3258.

Technology stocks have made a firm up move in early afternoon trades. Wipro is the biggest gainer from the sector, having gained over 3 per cent. TCS and Infosys have added over 1.5 per cent each.

Zee is holding on to its early gains and is the biggest gainer among index stocks. The stock has added over 7 per cent.

Metal stocks are also holding on to their gains, with SAIL leading the charge with close to 4 per cent gains. Tata Steel continues to trade with gains of close to a per cent. Among the aluminium stocks, Nalco has added 2 per cent while Hindalco is trading higher by over 1.5 per cent.

MTNL is continuing the good run with a 3 per cent gain after the company management came out with some positive statements including a Rs2,200 crore investment plan.

Gail, Grasim and IPCL are among the other major gainers.

The losers among Nifty stocks have lost only modest ground today. SCI, Bharti, Glaxo, OBC and PNB are also among the losers in large caps.

Mid-caps are also holding on to their early gains and the mid-cap index has gained close to 0.6 per cent. The market breadth also continues to be positive.

Recent listings like Pratibha Industries, Sunil Hitec Engineers, Indo Tech Transformers, BL Kashyap and Gitanjali Gems are also doing well.

Patspin Limited, Media Video and Bombay Dyeing are among the major gainers in mid-caps.

Kinetic Motors, Kopran and Mukand Engineers are among the mid-cap losers.


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20 March 01.10 PM: Indices hold on to early gains; Tech stocks rally