Buoyed up by a sharp jump in the bank's net profit for the quarter ended March 31, 2008, the ICICI Bank stock spurted to Rs 947 in early trade on the BSE today. With a few other frontline stocks posting sharp gains, the Sensex opened with a positive gap of around 125 points at 17,251.56 and edged up by another twenty points in opening trade.
However, due to strong resistance at higher levels, a host of blue chip stocks have drifted lower in subsequent trade and pushed the barometer down to 17,109.94 within the next few minutes. Though it staged a recovery of sorts after that, due to a fresh round of selling in frontline stocks, the Sensex has now eased to 17,056.07, recording a loss of 69.91 points or 0.41%.
The Nifty, which moved on to 5147.47 in early trade, has now eased to 5098.55, netting a loss of 0.26% or 13.15 points.
ICICI Bank has now slipped to Rs 924, up by just around 0.9% over its previous closing price. Telecom stock Bharti Airtel has posted an impressive gain of 2.35%. Reliance Communications, Maruti Suzuki, NTPC, HDFC, HDFC Bank, Hindustan Unilever and Ranbaxy Laboratories are up by 0.5% - 1%.
Tata Steel, Tata Motors, Reliance Energy, ONGC, Mahindra & Mahindra, Hindalco, Grasim Industries, DLF and Cipla are up marginally over their previous closing levels.
BHEL, Infosys Technologies and Wipro have declined sharply. Tata Consultancy Services, Reliance Industries, State Bank of India, Satyam Computer Services, Larsen & Toubro, Jaiprakash Associates, ACC, Ambuja Cements and ITC also exhibit weakness.
Thanks to impressive quarterly results, Sterlite Industries has moved up by 3.7% to Rs 867. Cairn India, SAIL, Hero Honda, Sun Pharmaceuticals, Power Grid and Idea Cellular are the other prominent gainers in the Nifty index.
Siemens is down with a loss of 13.95% at Rs 554. ABB, Punjab National Bank and Nalco are also down in the red with sharp losses. While ABB has lost 3%, Punjab National Bank and Nalco are down by around 1% and 0.75% respectively.
However, due to strong resistance at higher levels, a host of blue chip stocks have drifted lower in subsequent trade and pushed the barometer down to 17,109.94 within the next few minutes. Though it staged a recovery of sorts after that, due to a fresh round of selling in frontline stocks, the Sensex has now eased to 17,056.07, recording a loss of 69.91 points or 0.41%.
The Nifty, which moved on to 5147.47 in early trade, has now eased to 5098.55, netting a loss of 0.26% or 13.15 points.
ICICI Bank has now slipped to Rs 924, up by just around 0.9% over its previous closing price. Telecom stock Bharti Airtel has posted an impressive gain of 2.35%. Reliance Communications, Maruti Suzuki, NTPC, HDFC, HDFC Bank, Hindustan Unilever and Ranbaxy Laboratories are up by 0.5% - 1%.
Tata Steel, Tata Motors, Reliance Energy, ONGC, Mahindra & Mahindra, Hindalco, Grasim Industries, DLF and Cipla are up marginally over their previous closing levels.
BHEL, Infosys Technologies and Wipro have declined sharply. Tata Consultancy Services, Reliance Industries, State Bank of India, Satyam Computer Services, Larsen & Toubro, Jaiprakash Associates, ACC, Ambuja Cements and ITC also exhibit weakness.
Thanks to impressive quarterly results, Sterlite Industries has moved up by 3.7% to Rs 867. Cairn India, SAIL, Hero Honda, Sun Pharmaceuticals, Power Grid and Idea Cellular are the other prominent gainers in the Nifty index.
Siemens is down with a loss of 13.95% at Rs 554. ABB, Punjab National Bank and Nalco are also down in the red with sharp losses. While ABB has lost 3%, Punjab National Bank and Nalco are down by around 1% and 0.75% respectively.
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