labels: stock markets - india, markets - general

04 Sep 01.10 PM: Sensex rallies 140 points news
04 September 2006

Markets have gained further from the morning highs, helped by strong up moves in oil and technology stocks. Asian markets are holding on to their gains and Europe has opened with modest gains.

Sensex is trading higher by 140 points at 11918 at 01.10 PM.

Nifty is now trading higher by 41 points at 3477.

Zee Tele has gained further and remains the best performer among index stocks. The stock is now up 4.5 per cent.

Oil marketing stocks have moved up further. HPCL is now trading 3.5 per cent higher and BPCL has added nearly 2 per cent.

Auto stocks have also built on their early strengths. Maruti is now trading more than 2.5 per cent higher while Tata Motors has added nearly 2.5 per cent.

Dabur is a major mover in early afternoon trades and has gained well above 3 per cent. HLL has gained close to 2 per cent while ITC has added nearly a per cent.

Glaxo is holding on to its gains of over 2.5 per cent.

Among engineering stocks, Suzlon has added nearly 2.5 per cent while L&T is holding on to gains of over 2 per cent.

Among index heavies, ONGC is up nearly 1.5 per cent while Reliance continues to trade with gains of close to a per cent.

IPCL is up nearly 2 per cent.

Infosys has gained close to 2 per cent and Satyam is still trading 1.5 per cent higher. TCS has gained 1.25 per cent while Wipro is trading nearly a per cent higher.

Hero Honda remains the only loser among index stocks and is down nearly a per cent.

Mid-caps and small caps have gained further from their early levels as there is no let up in buying. The NSE mid-cap index is now trading with gains of 1.2 per cent.

BSE mid-cap index is doing much better with gains of 1.7 per cent and small-cap index has added 1.4 per cent. Market breadth on the NSE continues to be highly positive with nearly 4 stocks advancing for every declining stock.

United Western Bank continues to trade with losses of over 32 per cent, following the RBI moratorium on its operations over the weekend.

Essel Propack and Orient Paper are locked in the 10 per cent upper circuits.

Softpro Solutions, Vimta Labs, Subros, Saksoft, Garden Silk and Astra IDL are among the major mid-cap gainers.

Gruh Finance, Quintegra, Petron Engineering, SPL and Zuari Agro are the major mid-cap losers.

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04 Sep 01.10 PM: Sensex rallies 140 points