After consolidating for two straight sessions, frontline
stocks opened with strong gains today. The Sensex rallied
more than 100 points in early trades while the Nifty moved
close to 3600.
markets have recovered from yesterday's fall on hopes
that the North Korean nuclear test would not have much
of an impact on other Asian economies.
opened at 12416 and saw a high of 12482. The index is
trading higher by 74 points at 12439 at 11.10 AM.
opened at 3567 and touched a high of 3597. The index is
now trading higher by 19 points at 3586.
Energy, which has been correcting for a couple of sessions,
is the best performer among index stocks with gains of
close to 2.5 per cent.
auto stocks, Tata Motors is continuing the rally with
gains of well over a per cent and Maruti has gained more
than 1.5 per cent.
has gained more than a per cent ahead of its results due
tomorrow. The stock had rallied close to 2.5 per cent
in opening trades on the back of a 4 per cent gain in
Bank and HDFC, which were under pressure in recent sessions,
have recovered and gained more than a per cent each.
has gained well over a per cent on expectations that the
group would announce its foreign partner, rumoured to
be Tesco, for its retail foray. It is not clear if Bharthi
Airtel, the telecom entity, would have any interest in
the retail business.
which underperformed other cement stocks in recent sessions,
has also added more than a per cent.
Reddy's has gained more than 2 per cent on some positive
news flows regarding early launch of the generic version
of a key drug.
is the other major gainer, trading nearly 1.5 per cent
are only 5 losers among Nifty stocks. HLL is under pressure
for the third session and is down nearly a per cent.
Power has lost more than 0.5 per cent while ONGC, Sun
Pharma and Tata Steel are trading with modest losses.
and small caps are outperforming the large caps by a wide
margin for the third successive session. Strong buying
momentum is evident across sectors even as some of the
recent gainers continue to correct.
NSE mid-cap index is now trading with gains of around
0.65 per cent. BSE mid-cap index has added over 0.9 per
cent and the small-cap index is the best performer with
gains of 1.25 per cent. Market breadth on the NSE is very
positive with nearly 5 stocks advancing for every declining
Engineering, Gati, GM Breweries, Induj Enertech, GKW,
BPL, Oil Country Tubular, Petron Engineering, Flex Chemicals
and BSEL Infrastructure are among the major mid-cap gainers.
Cinema, Provogue, Assam Company, Unitech and Shriram City
Union are the major mid-cap losers.