Update 4
Sensex gains 63 points
Sensex extended its rally for the fifth straight day as buying continued. Metal and IT stocks were in demand.
The 30-share BSE Sensex settled 63.32 points higher at 13,937.65, a lifetime closing high. It came off the higher level after opening with an upward gap of 154.14 points at 14,028.47, which is also its all time high. Sensex touched an intra-day low of 13905.65
The S&P CNX Nifty also settled at lifetime closing high at 4015.35, up 14.35 points from its previous close. It had surged to an all time high of 4033.20.The market breadth stayed positive with 1307 shares advancing on BSE as compared to 1263 that declined. 68 shares were unchanged.The total turnover on BSE amounted to Rs 4743 crore as compared to Rs 4836 crore on Monday (4 December).Among the Sensex pack, 18 declined while the rest advanced.
Gallant show by ADR lifts Infosys
IT bellwether Infosys Technologies gained 1.5% to Rs 2240 after its ADR rose 2.7% on Monday to $54.42.1.3 lakh shares changed hands in the counter on BSE.
After a solid surge during early October 2006 to late November on the back of strong Q2 results, the stock entered a consolidation mode. It moved in a range of Rs 2157 to Rs 2234 between 22 November to 4 December. Earlier, the stock surged to a lifetime closing high of Rs 2253.10 on 20 November from Rs 1803.20 on 4 October as strong Q2 resulted prompted analysts to raise their earnings estimates for the year.
Recent reports that top Indian IT firms are chasing over a dozen deals on an average, the sizes of which range between $50 - $100 million continue to support IT pivotals. At the end of September 2006, Infosys had 34 clients paying more than $50 million a year, up from 14 a year before.
Reliance Communications reaches a summit on major expansion plans
Reliance Communications rose 3% to Rs 456.40 after reports suggested the company has invited bids for 90-100 million cellular lines valued at $7-8 billion.
The scrip struck a high of Rs 458.45 which is a lifetime high for the scrip. 11.2 lakh shares changed hands in the counter on BSE.
Greenply Industries gains on carbon credits sale
Plywood maker Greenply Industries jumped 7.5% to Rs 102.05 after the firm said it had signed a deal to sell carbon credits worth $5 million.The deal would add 500,000 euros annually to its revenues from FY 2007 to till 2012.1.3 lakh shares changed hands in the counter on BSE.
The stock had drifted lower in the past few days after it had moved in a narrow range of Rs 97 to Rs 103 between mid-October to mid-November 2006. From Rs 102.55 on 15 November, the stock had declined to Rs 94.85 by 4 December.
Sensex extended its rally for the fifth straight day as buying continued. Metal and IT stocks were in demand.
The 30-share BSE Sensex settled 63.32 points higher at 13,937.65, a lifetime closing high. It came off the higher level after opening with an upward gap of 154.14 points at 14,028.47, which is also its all time high. Sensex touched an intra-day low of 13905.65
The S&P CNX Nifty also settled at lifetime closing high at 4015.35, up 14.35 points from its previous close. It had surged to an all time high of 4033.20.The market breadth stayed positive with 1307 shares advancing on BSE as compared to 1263 that declined. 68 shares were unchanged.The total turnover on BSE amounted to Rs 4743 crore as compared to Rs 4836 crore on Monday (4 December).Among the Sensex pack, 18 declined while the rest advanced.
Gallant show by ADR lifts Infosys
IT bellwether Infosys Technologies gained 1.5% to Rs 2240 after its ADR rose 2.7% on Monday to $54.42.1.3 lakh shares changed hands in the counter on BSE.
After a solid surge during early October 2006 to late November on the back of strong Q2 results, the stock entered a consolidation mode. It moved in a range of Rs 2157 to Rs 2234 between 22 November to 4 December. Earlier, the stock surged to a lifetime closing high of Rs 2253.10 on 20 November from Rs 1803.20 on 4 October as strong Q2 resulted prompted analysts to raise their earnings estimates for the year.
Recent reports that top Indian IT firms are chasing over a dozen deals on an average, the sizes of which range between $50 - $100 million continue to support IT pivotals. At the end of September 2006, Infosys had 34 clients paying more than $50 million a year, up from 14 a year before.
Reliance Communications reaches a summit on major expansion plans
Reliance Communications rose 3% to Rs 456.40 after reports suggested the company has invited bids for 90-100 million cellular lines valued at $7-8 billion.
The scrip struck a high of Rs 458.45 which is a lifetime high for the scrip. 11.2 lakh shares changed hands in the counter on BSE.
Greenply Industries gains on carbon credits sale
Plywood maker Greenply Industries jumped 7.5% to Rs 102.05 after the firm said it had signed a deal to sell carbon credits worth $5 million.The deal would add 500,000 euros annually to its revenues from FY 2007 to till 2012.1.3 lakh shares changed hands in the counter on BSE.
The stock had drifted lower in the past few days after it had moved in a narrow range of Rs 97 to Rs 103 between mid-October to mid-November 2006. From Rs 102.55 on 15 November, the stock had declined to Rs 94.85 by 4 December.
posted by SY at 4:18 PM
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