labels: markets - general
Market update: Sensex rallies 262 points; above 13100 news
09 April 2007

Indices have moved up further, with strong support from steel, telecom, banking and technology stocks. Other Asian markets continue to hold on to their gains.

Sensex is trading higher by 262 points at 13118 at 01.10 PM.

Nifty is now trading higher by 71 points at 3829.

Tata Steel has gained further and is now the best performer among Nifty stocks, trading nearly 5 per cent higher. SAIL has added more than 3 per cent.

MTNL has come off its highs, but is holding on to gains of over 4 per cent. Reliance Communications has added nearly 4 per cent on excellent subscriber additions for the month of March.

Siemens continues to lead the engineering pack with gains of nearly 3.5 per cent. BHEL has added over 3 per cent.

SBI is leading banking stocks with gains of over 3 per cent. HDFC Bank has added nearly 3 per cent while ICICI Bank and PNB are trading more than 2 per cent each higher.

ITC has made a major up move and has added over 3.5 per cent. HLL has added more than 2 per cent.

Maruti has recovered from last week''s fall and has gained close to 3.5 per cent while Tata Motors has added nearly 2 per cent.

Among tech stocks, Infosys is holding on to gains of 2.5 per cent while TCS is trading well over 2 per cent higher. Wipro has gained 2.5 per cent and Satyam is up nearly 2 per cent.

ONGC continues to trade with gains of well over 2 per cent while Reliance Industries is holding on to gains of nearly 1.5 per cent.

Reliance Energy is the other major gainer, trading more than 3 per cent higher.

Zee Entertainment is the only loser among Nifty stocks, down more than 0.5 per cent.

Mid-caps and small caps have also moved up further. The NSE mid-cap index is now trading with gains of close to 1.4 per cent. BSE mid-cap index has added nearly 1.6 per cent and the BSE small-cap index has gained over 2 per cent. Market breadth on the NSE remains very positive in early afternoon trades.

Hyderabad Industries has now added close to 16 per cent.

Raj Rayon, Rane Madras, Samtel, Supreme Petro, Gwalior Chemicals, Paramount Cables, Vishesh Info, SRF and Prime Focus are the other major mid-cap gainers.

Indo-Nippon, TVS Shrichakra, Nippo Battery, Shiv Texyarn, GM Breweries and Thiru Arooran Sugar are the major mid-cap losers.

also see : Other reports by Rex Mathew
Other reports by Rex Mathew

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Market update: Sensex rallies 262 points; above 13100