labels: stock markets - india, markets - general

31 July 11.10 AM: Sensex adds 155 points; above 10800 news
31 July 2006


Markets have resumed the rally after Friday's modest correction, helped by the firm trend in most Asian markets. Most large cap stocks are continuing the rally, helped by strong quarterly results.

Sensex opened at 10759 and rallied to a high of 10843. The index is trading higher by 155 points at 10835 at 11.10 AM.

Nifty opened at 3131 and touched a high of 3176. The index is trading higher by 41 points at 3172.

Suzlon Energy is the best performer among index stocks, helped by strong results for the June quarter. The stock is now trading nearly 4.5 per cent higher.

Auto stocks are doing well in early trades, led by M&M which has added over 2.5 per cent. Maruti and Tata Motors have added over 2 per cent each.

Satyam Computers is the best performer among tech stocks, trading nearly 2 per cent.

Tata Tea is the biggest gainer among FMCG stocks, which are finding interest following good results from HLL. The stock is trading nearly 3 per cent higher while ITC has added over 2 per cent.

Nalco is another big winner, trading more than 2.5 per cent higher.

ICICI Bank and Zee Tele are the other major gainers among Nifty stocks, trading with gains of more than 2 per cent each.

There are only four losers among index stocks in early trades. Jet Airways is the worst performer among Nifty stocks after the company reported losses for the last reporting quarter. The stock is trading more than 0.5 per cent lower.

Grasim, ONGC and VSNL are the other losers among Nifty stocks.

Mid-caps and small stocks are doing even better than the large caps. The smaller stocks have extended their gains into the fifth straight session as buying interest continues.

The NSE mid-cap index is now trading with gains of around 1.85 per cent. BSE mid-cap index has gained over 1.62 per cent and the small-cap index is trading with gains of around 1.89 per cent each. Market breadth on the NSE is positive with nearly 6 stocks advancing for every declining stock.

Havells India, Blow Plast, Hindustan Motors, Monsanto India, Seshasayee Paper and Corporation Bank are among the major mid-cap gainers.

Titanor Components, Visual Soft, MRO-Tek, Ador Welding, Indus Ind Bank and Dredging Corp are the major mid-cap losers.


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31 July 11.10 AM: Sensex adds 155 points; above 10800