MUMBAI: Equities shot up at the open triggered by a rally in markets across the globe after a Lehman Brothers share offering triggered hopes that the worst of the credit crisis may have ended.
At 10:05 am, the Bombay Stock Exchange’s Sensex was up 539 points or 3.45 per cent at 16,165.41.
Biggest Sensex gainers were ICICI Bank (up 6.4%), HDFC Bank (5.39%), DLF (4.94%), Wipro (4.89%), Larsen & Toubro (4.84%), HDFC (4.67%) and BHEL (4.18%).
There were no losers in the 30-share index. Market breadth on BSE showed 789 advances and 25 declines.
The National Stock Exchange’s Nifty was up 152 points or 3.21 per cent at 4891.60.
“The outlook is positive today following cheerful global cues.
Sensex faces resistance at 15,874 and while support comes at 15,338. The Nifty faces resistance at 4,817 and support lies at 4,645,” Networth Stock Broking said in a note.
Asian stocks advanced the most in seven weeks, led by banks and technology companies, on speculation financial companies will be able to overcome a freeze in credit markets and shore up global economic growth. The Nikkei 225 rose 3.72 per cent, the Hang Seng increased 4.22 per cent and the Straits Times added 2.59 per cent.
US stocks on Tuesday celebrated the start of a new quarter, rallying as Lehman Brothers Holdings Inc.'s equity offer drew a warm reception, fueling the Dow Jones to its 8th-biggest point jump ever. The index gained 3.19 per cent. The Standard & Poor's 500 Index rose 3.59 per cent and the Nasdaq Composite Index jumped 3.67 per cent.
At 10:05 am, the Bombay Stock Exchange’s Sensex was up 539 points or 3.45 per cent at 16,165.41.
Biggest Sensex gainers were ICICI Bank (up 6.4%), HDFC Bank (5.39%), DLF (4.94%), Wipro (4.89%), Larsen & Toubro (4.84%), HDFC (4.67%) and BHEL (4.18%).
There were no losers in the 30-share index. Market breadth on BSE showed 789 advances and 25 declines.
The National Stock Exchange’s Nifty was up 152 points or 3.21 per cent at 4891.60.
“The outlook is positive today following cheerful global cues.
Sensex faces resistance at 15,874 and while support comes at 15,338. The Nifty faces resistance at 4,817 and support lies at 4,645,” Networth Stock Broking said in a note.
Asian stocks advanced the most in seven weeks, led by banks and technology companies, on speculation financial companies will be able to overcome a freeze in credit markets and shore up global economic growth. The Nikkei 225 rose 3.72 per cent, the Hang Seng increased 4.22 per cent and the Straits Times added 2.59 per cent.
US stocks on Tuesday celebrated the start of a new quarter, rallying as Lehman Brothers Holdings Inc.'s equity offer drew a warm reception, fueling the Dow Jones to its 8th-biggest point jump ever. The index gained 3.19 per cent. The Standard & Poor's 500 Index rose 3.59 per cent and the Nasdaq Composite Index jumped 3.67 per cent.
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