labels: stock markets - india, markets - general

Market update: Sensex flat after firm start news
16 January 2007

Indices started the day on a firm note, helped by good results from TCS and HCL Tech, but have shed all their gains. Other Asian markets are mixed in morning trades.

Sensex opened at 14146 and rallied to a new lifetime high of 14211. The index is trading flat at 14129 at 11.10 AM.

Nifty opened at 4091 and touched a new high of 4107. The index is now trading higher by 3 points at 4081.

SAIL has corrected nearly 2 per cent after yesterday's sharp surge

HDFC is the worst performer among index stocks, down nearly 2.5 per cent.

Reliance Industries has corrected nearly a per cent after gaining yesterday. Gail India has also lost nearly a per cent.

Among FMCG stocks, ITC has shed well over a per cent while HLL has lost more than 0.5 per cent.

Jet Airways is continuing the correction and has lost close to a per cent

Among pharma stocks, Glaxo has lost nearly a per cent and Sun Pharma is down more than 0.5 per cent.

Tata Power is the other loser, down more than 0.5 per cent.

TCS opened strong and gained more than 3 per cent following better than expected results. The stock is now trading nearly a per cent higher.

HCL Tech is the best performer among index stocks on the back of strong quarterly numbers. The stock is now trading nearly 3 per cent higher.

Among other tech stocks, Satyam has added nearly 1.5 per cent.

BHEL has added more than 1.5 per cent and Siemens is trading nearly a per cent higher.

ONGC is firm in early trades and has added more than 0.5 per cent.

Bajaj Auto has gained close to 1.5 per cent and M&M is trading nearly a per cent higher.

Reliance Energy and PNB are the other major gainers.

Mid-caps and small caps remain firm in early trades. The NSE mid-cap index is now trading with gains of nearly 0.3 per cent. BSE mid-cap index has added close to 0.5 per cent and the BSE small-cap index is trading with gains of over 0.4 per cent. Market breadth on the NSE is marginally positive in early trades.

Lumax Auto Tech got listed today. Issued at Rs75, the stock opened at Rs80 on the NSE and saw a high of Rs143. The stock is now trading at Rs115.7.

XPro India, Lumax Auto and GMR Industries are locked in the 10 per cent upper circuits.

Yes Bank, Aftek, Bank of Maharashtra, Shivalik Global and 3i Infotech are among the major mid-cap gainers.

Tata Sponge, IVP, HB Stock, Hanung Toys, Gujarat State Petronet, Softpro and Godavari Fert are the major mid-cap losers.

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Market update: Sensex flat after firm start