results from TCS and a sharp rally in ONGC have helped
the markets to sustain the momentum from yesterday. Both
indices have made substantial gains in early trades.
on the Nifty are much higher than Sensex gains as TCS
is not represented on the Sensex and ONGC has a higher
weight on the Nifty.
Sensex opened at 11625 and touched a high of 11754. The
index is trading higher by 188 points at 11728 at 11.10
Nifty opened at 3429 and saw a high of 3498 in early trades.
The index is trading higher by 65 points at 3490.
expected, TCS is the biggest gainer among index stocks
after the company's results and bonus announcement. The
stock has gained over 6 per cent, taking its market capitalisation
close to Rs1 lakh crore. The stock touched a lifetime
high of Rs2,088 on the NSE in early trades.
other technology stocks, Infosys has added 2 per cent
after the sharp gains in its ADR prices in the US markets
yesterday. Satyam is trading more than 1.5 per cent higher
while HCL Technologies has gained over 2.5 per cent.
crude oil prices above $70 per barrel are helping ONGC
to notch up sharp gains after yesterday's weakness. The
stock has gained close to 4 per cent.
is continuing its bounce back from yesterday and has added
nearly 4.5 per cent. Among other pharma stocks, Dr. Reddy's
is trading 2.5 per cent higher.
stocks are having a good day, led by VSNL which has added
close to 3.5 per cent. MTNL is trading higher by over
3 per cent while Reliance Communication is flat.
is another sector that is in the limelight today, led
by Dabur, which has added over 3.5 per cent. HLL has added
close to 2 per cent while ITC is trading nearly 1.5 per
cent higher. Tata Tea has also gained over 2 per cent.
is the best performer among metal stocks, having gained
over 2 per cent. Tata Steel has given up 0.5 per cent.
Hindalco is trading nearly a per cent higher while Nalco
is marginally lower.
crude prices have pulled down oil marketing stocks. Both
BPCL and HPCL have given up close to 2.5 per cent each.
Power has given up close to a per cent while Gujarat Ambuja
Cement is subdued after yesterday's spectacular rise.
are also maintaining the uptrend from yesterday, but gains
on the mid-cap index are considerably lower than the frontline
indices. The index has added nearly 1.25 per cent. Market
breadth is highly positive on the NSE.
India, RS Software and Alps Industries are among the major
gainers in mid-caps.
Mirc Electronics and Man Industries are among the mid-cap