Thursday, April 17, 2008

Sensex Up Over 200 Pts @ 10:10 Hrs

Taking cues from strong global markets, equities opened on a buoyant note on the major Indian bourses this morning. Stocks cutting across sectors have surged higher with the bulls thronging the counters in early trade.

The Sensex, which opened at 16,456.04, around 212 points off its previous closing mark, moved on to 16,534.84 in early trade. At present, the barometer is up with a gain of 205.45 points or 1.26% at 16,449.64.

The Nifty, which flared up to 4966.85 after opening at 4890.60, has posted a gain of 1.14% or 55.70 points at 4943.

Information technology stocks, as they had done over the last two sessions, are seen leading the charge up north. Sector bellwether Infosys Technologies has gained over 2.5% at Rs 1640.10. Satyam Computer Services has posted a gain of 2.85%. Wipro and Tata Consultancy Services have gained 2.2% and 1.3% respectively.

Index heavyweight Reliance Industries has notched up a gain of 1.3%. Reliance Energy is up by around 2%. Among banking sector heavyweights, HDFC Bank and ICICI Bank have gained 2.65% and 2.1% respectively while State Bank of India is up with a gain of 1.15%.

Tata Motors, Tata Steel, ONGC, Ranbaxy Laboratories, Larsen & Toubro, Jaiprakash Associates, ICICI Bank, HDFC, Hindalco, Bharti Airtel, BHEL and DLF have gained 1% - 2%.

ACC, Ambuja Cements, Cipla, Grasim Industries, Hindustan Unilever, Mahindra & Mahindra, Maruti Suzuki, Reliance Communications and NTPC have also posted smart gains.

HCL Technologies, Sterlite Industries, Reliance Petroleum, Zee Entertainment, Tata Power, Cairn India, Nalco, BPCL and Idea Cellular are among the top gainers in the Nifty index.

Bombay Dyeing which finished with a hefty gain yesterday, is up by around 10.5% at Rs 887. RNRL (2.3%), Nagarjuna Fertilizers (6.8%) and Reliance Capital (1.7%) have also moved up on strong volumes.

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