MUMBAI: Equities extended Wednesday’s gains opening sharply higher taking cues from rise in global shares. Early gains in real estate, energy and FMCG heavyweights added over two per cent to the benchmarks on Thursday.
At 10:05 am, the Bombay Stock Exchange’s Sensex was up 346 points or 1.97 per cent at 17,939.97. It touched a high of 18,096.31, after opening at 17,920.98.
Biggest Sensex gainers comprised ACC (up 6.62%), Mahindra & Mahindra (5.84%), HDFC (5.26%), Hindustan Unilever (3.93%) and ITC (3.9%).
Bharti Airtel (down 0.38%) and Maruti Suzuki (0.26%) were the losers.
The National Stock Exchange’s Nifty was at 5303.60, higher by 100 points or 1.93 per cent over Wednesday. The index touched a high of 5355.25 and low of 5194.70 so far.
“With stocks having risen substantially yesterday, their ability to do an encore would be restricted. Traders are advised to watch the market closely and bail out at the first signs of a correction. Use of tight stop losses is recommended. The stop loss can be raised as the market rises, but do not lower the stop loss and allow it to be triggered,” said Anagram Stock Broking in a note.
Reliance Power seeks SEBI nod for early allotment to QIBs
Key US indices ended a volatile session with substantial gains as investors bought stocks expecting another rate cut shortly from the Federal Reserve. The Dow Jones Industrial Average rose 2.5 per cent, the Standard & Poor's 500 Index was up 2.14 per cent and the Nasdaq Composite Index gained 1.05 per cent.
Asian stocks rose for a second day on speculation regulators will coordinate efforts to support financial companies following a meltdown in credit markets. The Nikkei 225 was up 1.42 per cent, the Hang Seng added 1.4 per cent and the Straits Times shot up 3.86 per cent.
At 10:05 am, the Bombay Stock Exchange’s Sensex was up 346 points or 1.97 per cent at 17,939.97. It touched a high of 18,096.31, after opening at 17,920.98.
Biggest Sensex gainers comprised ACC (up 6.62%), Mahindra & Mahindra (5.84%), HDFC (5.26%), Hindustan Unilever (3.93%) and ITC (3.9%).
Bharti Airtel (down 0.38%) and Maruti Suzuki (0.26%) were the losers.
The National Stock Exchange’s Nifty was at 5303.60, higher by 100 points or 1.93 per cent over Wednesday. The index touched a high of 5355.25 and low of 5194.70 so far.
“With stocks having risen substantially yesterday, their ability to do an encore would be restricted. Traders are advised to watch the market closely and bail out at the first signs of a correction. Use of tight stop losses is recommended. The stop loss can be raised as the market rises, but do not lower the stop loss and allow it to be triggered,” said Anagram Stock Broking in a note.
Reliance Power seeks SEBI nod for early allotment to QIBs
Key US indices ended a volatile session with substantial gains as investors bought stocks expecting another rate cut shortly from the Federal Reserve. The Dow Jones Industrial Average rose 2.5 per cent, the Standard & Poor's 500 Index was up 2.14 per cent and the Nasdaq Composite Index gained 1.05 per cent.
Asian stocks rose for a second day on speculation regulators will coordinate efforts to support financial companies following a meltdown in credit markets. The Nikkei 225 was up 1.42 per cent, the Hang Seng added 1.4 per cent and the Straits Times shot up 3.86 per cent.
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