Wednesday, June 11, 2008

Mkts: Blue Chips Rebound, Lift Sensex Up By 200 Pts - June 11, 2008

Trading got off to a positive start on the major Indian bourses this morning with pharma, realty, power, capital goods, metal and information technology stocks surging higher in early trade. Though Wall Street ended on a subdued note and Asian markets remain mixed, a few front line stocks from various sectors have moved up sharply on bargain hunting in opening trade.

Mirroring the buoyant start, the Sensex vaulted to 15,115.69 after opening with a positive gap of over 125 points at 15,018.68. At present, the barometer is up with a handsome gain of 199.04 points or 1.34% at 15,088.29. The Nifty, which shot up to a high of 4516.95 in opening trade, is up by 1.16% or 51.65 points at 4501.45.

Ranbaxy Laboratories, which has been moving up sharply of late, has scored a gain of 3.65% this morning. BHEL, Jaiprakash Associates, Reliance Infrastructure, Ambuja Cements, Maruti Suzuki and ONGC have gained 2% - 3.5%.

ACC, Cipla, DLF, Hindalco, HDFC, ICICI Bank, Infosys Technologies, Larsen & Toubro, Mahindra & Mahindra, Reliance Communications, Reliance Industries, Satyam Computer Services, State Bank of India, Tata Motors, Tata Steel, Wipro and Tata Consultancy Services have also risen sharply. Bharti Airtel and Grasim Industries have chipped in with notable gains.

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Hindustan Unilever and ITC have declined sharply in early trade and lost 1.45% and 1.75% respectively in the process. HDFC Bank hovers around its previous closing price.

HCL Technologies, Unitech, Suzlon Energy, SAIL, Dr. Reddy's Laboratories, BPCL, Nalco, Idea Cellular, Power Grid, Sterlite Industries, Reliance Petroleum, Tata Power, GAIL India, Punjab National Bank, Hero Honda and Siemens are among the prominent gainers in the Nifty index. Cairn India and ABB have posted sharp losses.

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