Monday, June 16, 2008

Mkts: ICICI Bank, Infosys Rally; Sensex Up Nearly 325 Pts @ 10:55 Hrs - June 16, 2008

The market, which opened on a rousing note this morning, has gained further ground in the positive territory now thanks to sustained buying across the board.

The Sensex, which zoomed to 15,553.37 this morning, is up with a sparkling gain of 323.61 points or 2.13% at 15,513.23 at present. At 4607.65, a few points down from a high of 4616.40 it had touched earlier this morning, the Nifty is up 2% or 90.55 points over its previous closing mark.

Bank, realty, information technology, metal and power stocks have risen sharply. There are impressive gains for several stocks from capital goods, oil and pharma sectors as well. Auto and FMCG stocks also rule firm, albeit with less pronounced gains.

Besides several large cap stocks, a number of stocks from midcap and smallcap segments too have moved up sharply. Mirroring the sharp surge in prices of stocks from these segments, the BSE Midcap and Smallcap indices have advanced by around 1.75% now.

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So positive is the mood that only Tata Motors (down 0.2%) and Hindalco (down marginally), among the Sensex components are down in the negative territory at present. Among Nifty stocks, Cairn India (down 2.05%) and Hero Honda (down 0.15%) have posted losses.

HDFC, the most prominent gainer in the Sensex, is up by around 4.8% at Rs 2235. ICICI Bank and Infosys Technologies are up by nearly 3.5% at present. Bharti Airtel has gained 3.7%. ONGC is up by a little over 3%.

Satyam Computer Services, Jaiprakash Associates, NTPC and BHEL are up by 2% - 2.5%. ACC, Ambuja Cements, Grasim Industries, Cipla, Larsen & Toubro, Ranbaxy Laboratories, Reliance Industries, State Bank of India, Tata Steel, Wipro and Tata Consultancy Services have also posted strong gains.

Power Grid has gained nearly 4.5%. Siemens is up by around 4.25%. Unitech has gained close to 4%. GAIL India, Tata Communications, Sterlite Industries, HCL Technologies, Punjab National Bank, Zee Entertainment, Tata Power, SAIL, Sun Pharmaceuticals, Suzlon Energy and Reliance Petroleum have recorded impressive gains.

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