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Market: Indices

17 May 2007

Under arrangement with Thomas White International*

Helped by the sustained up trend across global markets, frontline Indian indexes extended their gains today as well. They opened higher and remained within a range for the rest of the session. Oil & gas, banking and select technology stocks did very well today.

Sensex closed with gains of 172 points at 14300 and the Nifty gained 49 points to end at 4220. Nifty May futures closed at a premium of 2 points to the spot index.

Oil & gas stocks were the best performers today, led by Reliance Industries which rallied 3.09 per cent. HPCL was the biggest gainer among Nifty stocks and closed 3.44 per cent higher. BPCL added 3.13 per cent and IPCL closed 2.97 per cent higher.

Banking stocks continued their rally for the third day, once again led by SBI. The stock surged another 3.35 per cent while ICICI Bank ended 2.12 per cent higher.

Among tech stocks, HCL Tech gained 2.76 per cent and TCS ended 2.11 per cent higher.

Among other major gainers, Dr. Reddy's added 2.24 per cent and Tata Motors closed 2.17 per cent higher.

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