Tuesday, June 17, 2008

Mkts open on a cautious note; BHEL, Unitech rise early @ 10:13 Hrs - June 17, 2008

t's a cautious start for equities out there on the major Indian bourses this morning amid mixed global cues. Select realty, PSU and auto stocks have moved on to higher levels while oil, IT, metal and bank stocks remain subdued. Not much action is taking place in pharma, power and capital goods sectors.

The Sensex, which opened at 15,388.36, a few points down from its previous closing mark, drifted down by around 30 points before it rallied to 15,436.20 on some brisk buying in a few blue chip stocks.

At present, the Sensex is up with a minor gain of 18.25 points or 0.12% at 15,414.07. The Nifty, which has been moving in a range of around 25 points since trade commenced this morning, is up with a marginal gain of 5.70 points at 4578.20.

BHEL (2.15%), Jaiprakash Associates (2.6%), Hindalco (1.2%) and Maruti Suzuki (1.6%) have moved up sharply. Cipla, DLF, HDFC Bank, HDFC, ITC, Larsen & Toubro, NTPC, Ranbaxy Laboratories, State Bank of India, Tata Motors and Tata Consultancy Services have posted modest gains.

Bharti Airtel, ONGC, Reliance Communications, Reliance Industries, Reliance Infrastructure and Satyam Computer Services have declined sharply. ACC, Ambuja Cements, Grasim Industries, ICICI Bank and Wipro also trade weak. Infosys Technologies, Tata Steel and Wipro hover around their previous closing levels.

Nifty stock Unitech has gained over 3% at Rs 204.75. Siemens, Power Grid, Hero Honda, Suzlon Energy, HCL Technologies and Zee Entertainment are also up in the positive territory with notable gains. Tata Power, Sterlite Industries, Tata Communications and Dr. Reddy's Laboratories are down with sharp losses.

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