Thursday, June 5, 2008

Sensex Edges Up After A Cautious Start @ 10:16 Hrs - June 5, 2008

With global markets displaying a mixed trend, trading got off to a cautious start on the major Indian bourses this morning. Select IT, pharma and FMCG stocks have made some progress while realty, auto, power, bank and capital goods stocks trade weak.

The Sensex, which slipped into the red to 15,466.24 after a positive start, rallied to 15,611.88 in subsequent trade before drifting down below the 15,600 mark again. At 15,584.33, the barometer is up with a modest gain of 69.54 points or 0.45% at present. The Nifty is up with a gain of 0.51% or 23.40 points at 4609.
ONGC, which was the lone gainer from the Sensex yesterday, is up with a handsome gain of 4.1% at Rs 923.10. Tata Consultancy Services has gained nearly 3%. Satyam Computer Services and Infosys Technologies are up by 2.55% and 1.9% respectively.

Ranbaxy Laboratories has moved up by over 2%. State Bank of India, NTPC, Hindalco, Hindustan Unilever, ACC and Cipla are up by 1% - 2%.

Bharti Airtel, Grasim Industries, HDFC, ITC, Larsen & Toubro and Maruti Suzuki have posted modest gains.

Tata Steel, Wipro, Tata Motors, Reliance Industries, Jaiprakash Associates and ICICI Bank trade flat.

BHEL has slipped by 2.2% to Rs 1438.70. DLF, Reliance Communications, HDFC Bank, Mahindra & Mahindra, Ambuja Cements and Reliance Infrastructure are down with sharp losses.

GAIL India, Dr. Reddy's Laboratories, Sun Pharmaceuticals, Tata Power and Nalco are among the prominent gainers in the Nifty index. Power Grid, Hero Honda and Idea Cellular are down with sharp losses.

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