After consolidating yesterday, the markets have resumed
their rally in early trades. The Sensex has moved closer
to the 12000 mark after an indifferent start. Weak trend
in major Asian indices, despite a firm closing by US indices
yesterday, has not yet affected sentiments.
opened at 11909 and touched a high of 11977. The index
is trading higher by 69 points at 11974 at 11.10 AM.
opened at 3474 and touched a high of 3489. The index is
now trading higher by 14 points at 3488.
stocks are continuing the rally from yesterday afternoon.
Nalco has added nearly 3 per cent and Hindalco is trading
nearly 2 per cent higher.
steel stocks, Tata Steel and SAIL have added close to
1.5 per cent each.
Energy is the best performer among index stocks, trading
nearly 3 per cent higher. The stock had gained yesterday
as well on speculation about award of coal blocks and
some other projects.
decline in crude oil prices has helped HPCL to add nearly
2 per cent and BPCL has added more than 1.5 per cent.
Reddy's is another major gainer, having added nearly 2
stocks, VSNL and MTNL have added 1.5 per cent each. Reliance
Communications has gained over a per cent.
has recovered from the correction over the last couple
of days and is trading nearly 2 per cent higher.
has also added nearly 2 per cent. Reliance Industries
is trading 0.5 per cent higher.
stocks Tata Motors and Maruti have added over a per cent
ONGC has corrected as crude oil prices continue to decline.
The stock is now trading more than 0.5 per cent lower,
limiting the gains on frontline indices.
is the worst performer among index stocks, trading nearly
a per cent lower. HDFC Bank has lost nearly 0.5 per cent.
Pharma is another major loser, trading nearly a per cent
stocks, HCL Tech and TCS are trading with modest losses.
Airtel and BHEL are the other losers.
and small caps are once again performing much better than
the large caps as they extend the rally to the fourth
day. A number of individual stocks are seeing high investor
interest on news flows.
NSE mid-cap index is now trading with gains of 0.9 per
cent. BSE mid-cap index has added nearly 1.1 per cent
and the small-cap index is trading 1.2 per cent higher.
Market breadth on the NSE is highly positive with more
than 3.5 stocks advancing for every declining stock.
Limited is the best performer among mid-cap stocks with
gains of 12 per cent on reports that the value of Alembic
Glass, which is planning to de-list its shares, is much
higher than the floor price indicated for a reverse book
building issue. Minority shareholders are reportedly planning
to approach SEBI on the issue. Alembic holds a 4-per cent
stake in Alembic Glass, which is locked in 5 per cent
Finance, Cyber Media, Unitech, Munjal Auto, Premier, Emkay
Stock, Lyka Labs, Simplex Infrastructure and Excel Industries
are among the major mid-cap gainers.
Narmada Chematur, Sterling Tools and Financial Technologies
are the major mid-cap losers.