labels: stock markets - india, markets - general
23 March 11.10 AM: Indices firm in early tradesnews
23 March 2006

Markets have recovered from yesterday's decline as most of the frontline stocks which lost ground yesterday opened with gains. After gaining nearly two-thirds of a per cent each, both Sensex and Nifty have given up part of their gains in mid-morning trades.

Most Asian markets are trading with gains today, though the gains are modest. The Japanese Nikkei is trading marginally lower.

The Sensex opened at 10862 and saw a low of 10924. The index is trading higher by 14 points at 10855 at 11.10 AM.

The Nifty opened at 3241 and saw a high of 3266 in morning trades. The index is trading higher by 5 points at 3246.

Zee Tele is continuing its surge, which started last week. The stock has added more than 6 per cent and is the biggest gainer among index stocks.

MTNL is another stock which is maintaining it's up trend today as well. The stock has added over 3 per cent. VSNL has gained over 1.5 per cent.

Dabur has recovered from yesterday's losses and is now trading with gains of over 1.5 per cent.

Among the banking stocks, SBI and OBC have gained over a per cent each. ICICI Bank gained after a large block deal was reported in the FII segment of BSE.

BPCL, Sun Pharma, SAIL and Reliance Industries are among the other major gainers.

Dr. Reddy's have come under some selling pressure after yesterday's massive 9 per cent gain. The stock is now trading lower by close to 1.5 per cent.

BHEL, another gainer yesterday, has lost a per cent.

Infosys has come under some pressure and has now lost over a per cent.

Reliance Energy, Tata Motors and Bharti are among the other major losers.

Mid-caps have also recovered from yesterday's correction and the mid-cap index is now trading higher by 0.25 per cent. The index has given up part of its opening gains. Market breadth is also positive.

Some of the newly listed stocks are having another good day. Pratibha Industries has added over 8 per cent while BL Kashyap has gained over 6 per cent.

Allsec Technologies, Navbharat Ferro and Federal Bank are among the major gainers in mid-caps.

RNRL, Comsys and Nova Petro are among the mid-cap losers.


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23 March 11.10 AM: Indices firm in early trades