labels: stock markets - india, markets - general

21 Nov 01.10 PM: Sensex holding above 13500 news
21 November 2006

Indices are holding on to their early gains as oil stocks have rallied and telecom stocks are holding steady. Other Asian markets have shed part of their gains while Europe has opened firm.

Sensex is trading higher by 72 points at 13503 at 01.10 PM.

Nifty is now trading higher by 29 points at 3886.

Telecom stocks remain firm and MTNL continues to be the best performing index stocks with gains of over 3 per cent. VSNL has added over 2 per cent while Bharti and Reliance Communications are holding on to gains of over 1.5 per cent each.

Oil marketing stocks have recovered after a weak opening. HPCL is up more than 2.5 per cent and BPCL has added well over 2 per cent.

ONGC and Reliance Industries are trading with gains of close to 0.5 per cent each. Gail India is the other major gainer from the oil and gas space, trading more than 2 per cent higher.

Among autos, Maruti is up nearly 2.5 per cent and Tata Motors has gained over a per cent.

Siemens has rallied and is now trading nearly 3 per cent higher.

Reliance Energy is another major gainer, trading nearly 3 per cent higher.

Satyam is the best performer among tech stocks, trading over 2 per cent higher. TCS is up nearly 2 per cent and Wipro is trading 1.5 per cent higher.

HDFC has finally corrected after many days of sustained rally and a firm opening today. The stock is down more than 2.5 per cent and is the worst performer among index stocks.

Infosys has slipped further and is down more than 1.5 per cent. HCL Tech is down marginally.

Nalco remains weak by more than 0.5 per cent.

L&T, Zee Tele and Tata Power are the other losers.

Mid-caps and small caps have gained further after a firm start. The NSE mid-cap index is now trading with gains of nearly 1.5 per cent. BSE mid-cap has gained over 1.6 per cent and the small-cap index is trading with gains of nearly 1.85 per cent. Market breadth on the NSE is very positive with nearly 4 stocks advancing for every declining stock.

Infoedge India, which got listed today, has gained further. The stock is currently trading at Rs610, against an issue price of Rs320.

Shivam Autotech, which was re-listed today, is trading at Rs252 now.

Malu Paper is locked in 20 per cent upper circuit while Nelco and Tulip IT are locked in 10 per cent upper circuits.

DCB is the best performer among mid-caps, trading more than 16 per cent higher.

Aarvee Denim, Federal Moghul Goetze, HOV Services and Goldstone Tech are among the major mid-cap gainers.

GTN Industries, Nova Petro, Mangalam Textiles, Shiva Texyarn, Rane Holdings and Vakranjee Software are the major mid-cap losers.

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21 Nov 01.10 PM: Sensex holding above 13500