labels: stock markets - india, markets - general

Market update: Sensex tops 14400; Tata Steel recovers 2.5 per cent news
02 February 2007

Indices are continuing the strong up trend from yesterday, once again helped by strong cues from global indices. The rally is very broad-based with most sectors participating. Other Asian markets, except Shanghai, have also extended their gains from yesterday.

Sensex opened at 14293 and touched a new lifetime high of 14416. The index is trading higher by 130 points at 14397 at 11.10 AM.

Nifty opened at 4140 and touched an all-time high of 4183. The index is now trading higher by 41 points at 4179.

Steel stocks are leading the rally today. Tata Steel has recovered more than 2.5 per cent after declining more than 12 per cent over the last 2 sessions. SAIL has also gained over 2.5 per cent.

Telecom stocks continue to do well today as well. VSNL has added another 2.5 per cent while Reliance Communications is up nearly 2 per cent. Bharti is trading more than 1.5 per cent higher.

Among tech stocks, Wipro has gained over 2 per cent and Satyam is trading nearly 2 per cent higher.

Suzlon is continuing its recovery and has added another 2.5 per cent. Siemens has also gained over 2.5 per cent.

Gujarat Ambuja has extended its gains and has gained another 2.5 per cent.

There are only six losers among Nifty stocks. Nalco has corrected more than a per cent after yesterday's rally and is down more than a per cent.

BPCL and Sun Pharma have lost around 0.5 per cent each.

ABB, Infosys and PNB are trading with modest losses.

Mid-caps and small caps are also doing well, but gains are lower than the large caps. The NSE mid-cap index is now trading with gains of over 0.7 per cent. BSE mid-cap index has gained close to a per cent and the BSE small-cap index is trading with gains of over a per cent. Market breadth on the NSE is highly positive in early trades.

Network 18, the de-merged division of Television 18, got listed today. The stock is now trading at Rs353 per share.

Minda Industries, which listed on the NSE today, is trading at Rs190.

Pyramid Saimira is locked in the 10 per cent upper circuit. VLS Finance, HFCL, and Agro Dutch are also locked in the 10 per cent upper circuits.

Nicco Corp, SI Group, Eveready and Plastiblends are among the major mid-cap gainers.

AVT Natural, Nissan Copper, Easun Reyrolle and Hindustan Dorr Oliver are the major mid-cap losers.


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Market update: Sensex tops 14400; Tata Steel recovers 2.5 per cent