labels: stock markets - india, markets - general

09 Aug 01.10 PM: Sensex rallies 145 points as Asian markets recover news
09 August 2006

Markets have gained further from their morning levels, led by stocks in auto and pharma sectors. Banking stocks and heavyweights like Reliance and ONGC are also providing good support.

Asian markets have recovered from their early weakness, led by Japan, which has bounced back from a 2 per cent decline, and closed more than a per cent higher. European markets have opened with modest gains.

Sensex is trading higher by 145 points at 11160 at 01.10 PM.

Nifty is trading higher by 44 points at 3256.

Auto stocks have rallied in early afternoon trades. Tata Motors is the best performer among index stocks, trading nearly 4.5 per cent higher. M&M has added nearly 3 per cent. Maruti has added nearly 2.5 per cent.

Pharma stocks are also finding good interest today. Glaxo is still trading more than 3 per cent higher. Dr Reddy's has added over 2.5 per cent while Ranbaxy is trading more than 2 per cent higher.

OBC is holding on to its gains of 3.5 per cent. SBI is now up more than 2 per cent while ICICI Bank is trading with gains of close to a per cent.

Reliance Industries has also gained further and is now up nearly 1.5 per cent. ONGC has added well over a per cent.

Satyam is the best performer among tech stocks, trading more than 2.5 per cent higher. TCS and Wipro have gained over 1.5 per cent each while Infosys is up more than a per cent.

Among metals, SAIL and Tata Steel have added over 2 per cent each. Hindalco and Nalco are trading with gains of more than 1.5 per cent each.

Among other major gainers, ITC, HPCL and Suzlon are all trading with gains of around 2.5 per cent each.

There are just two losers among Nifty stocks. Grasim and HDFC Bank are trading with losses of below 0.5 per cent each.

Mid-caps and small stocks have also rallied further from their morning highs. Sugar stocks continue to do well and other major mid-cap stocks are also holding on to their gains.

The NSE mid-cap index is now trading with gains of nearly 1.6 per cent. BSE mid-cap index has also added close to 1.8 per cent and the small-cap index is trading with gains of 1.7 per cent. Market breadth on the NSE has improved further with nearly four stocks advancing for every declining stock.

Hindustan Oil Exploration, IndiaBulls, Lumax Industries, Indo-Rama, Gammon India, Mahindra Gesco, Balrampur Chini, Centurion Bank, Shanti Gear and Hindustan Construction are among the major mid-cap gainers.

Shreyan Industries, Flex Chemicals, Apcotex Lattices and Panacea Biotech are the major mid-cap losers.

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09 Aug 01.10 PM: Sensex rallies 145 points as Asian markets recover