Market update: Sensex rallies 205 points on global strength

Gains across most global markets have helped frontline Indian indexes to extend their gains today morning. The Sensex crossed the 14000 mark in opening trading and is now comfortably above that level

Sensex opened at 13988 and saw a high of 14082. The index is trading higher by 205 points at 14077 at 11.10 AM IST.

Nifty opened at 4089 and rallied to a high of 4156. The index is now trading higher by 64 points at 4152

Bajaj Auto has surged more than 5.5 per cent and is the best performer among Nifty stocks, despite the company reporting a decline in April sales volume. Hero Honda has added nearly 2.5 per cent

Among engineering stocks, BHEL has added well over 3 per cent while L&T is trading nearly 3 per cent higher

Bharti has added nearly 3 per cent while VSNL has gained almost 2.5 per cent

Tata Power has gained 2.5 per cent on reports of expansion plans

Gail India is continuing the up trend and has added another 2.5 per cent

HCL Tech is the best performer among technology stocks with gains of well over 3 per cent

PNB is leading the banking sector with gains of nearly 3 per cent

There are only 3 losers among Nifty constituents. HDFC Bank has lost over 0.5 per cent while Nalco and HLL are trading with modest losses

Mid-caps and small caps have also gained sharply in early trading. The NSE mid-cap index is now trading with gains of close to 1.6 per cent. BSE mid-cap index has gained nearly 1.4 per cent and the BSE small-cap index is trading 1.2 per cent higher.

Among mid-cap metal stocks, Jai Balaji Sponge is locked in 10 per cent upper circuit while Shri Ramrupai Balaji Steel has added 8.5 per cent

Newspaper stocks continue to see strong buying interest. Mid-Day Multimedia has added 10.5 per cent

IFCI is continuing its rally and has added another 5.5 per cent

GMDC, Titanor Components, Gujarat Gas, Goldstone Technologies, Talbros Auto, Lakshmi Energy and Foods and Jindal Poly are the other major gainers among mid-caps and small caps

UFlex, BEPL, Chemfab Alkalies, Mirza International, Teledata and Mukand Engineering are the 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.

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