Sensex gains 268 points; Satyam surges 6.5 per cent

Frontline Indian indexes have added modestly to their morning gains on strong results from technology companies and continued strength in Asian markets. Other Asian markets continue to be firm, led by Shanghai which has recovered over 4 per cent after yesterday's fall.

Sensex is trading higher by 268 points at 13888 at 12.30 PM IST.

Nifty is now trading higher by 76 points at 4074.

Satyam has surged ahead after a firm start and is now trading nearly 6.5 per cent higher on strong results. HCL Tech is holding on to gains of nearly 3 per cent.

Among metals, Tata Steel has added more than 3 per cent while SAIL is trading 2.5 per cent higher. Nalco has gained nearly 2.5 per cent.

Reliance Communications is now trading over 3.5 per cent higher.

HDFC has also rallied and is now trading 4.5 per cent higher.

Reliance Industries has made an up move and has added well over 2 per cent.

Gujarat Ambuja and BPCL are the other major gainers, both trading well over 2 per cent each higher.

Dabur has slumped after a weak start and is now the worst performer among Nifty stocks with losses of nearly 3.5 per cent.

Gail India is now trading nearly a per cent lower.

Hero Honda has lost nearly 0.5 per cent while Bajaj Auto is trading with modest losses.

Among pharma stocks, Cipla has declined 0.5 per cent while Glaxo continues to trade with marginal losses.

Zee Entertainment and VSNL are the other losers among Nifty stocks.

Mid-caps and small caps are holding on to their morning gains. The NSE mid-cap index continues to trade with gains of over 1.2 per cent. BSE mid-cap index has added over 1.3 per cent and the BSE small-cap index is trading more than 1.4 per cent higher.

Numeric Power Systems, Aurionpro and Kopran are all locked in 10 per cent upper circuits.

Property stocks are doing very well today. Orbit Corp has added nearly 10 per cent while Unitech has gained over 8 per cent.

Elgi Tyre, ITI, S Kumar Synfab and Spentex are the major gainers among mid-caps and small caps.

Orient Press, Blue Coast, MM Forgings, Banswara Syntex, Malco, Weizman Industries and Supreme Industries are the other major losers among mid-caps and small-caps.

Thomas White Global Research, part of the Thomas White International Group, publishes capital market research for global institutions and investment banks, and is headed by Thomas White, a former managing director of Morgan Stanley Asset Management.

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