Markets trading strong
The market surged in opening trade, with the Sensex extending Friday’s 270-point surge. Broad-based gains in Indian ADRs on Friday, and firm Asian markets took the benchmark Sensex to its highest level in 1-½ months. IT, telecom, banking and cement shares nudged higher.
The markets have gained some more points and is trading very strong on account of buying interest witnessed across the sectors.At 11.35 am the Sensex is up 229 points at 13613.13 while Nifty is up 66 points at 3983.80.
TCS rose ahead of its Q4 results, which are scheduled today. The stock rose nearly 3% to Rs 1298. ONGC gained 2.6% to Rs 893, after a newspaper reported that the company planned a public offering to part-finance a planned Rs 18000 crore refinery-cum-petrochemicals complex, after the exit of the project's co-owner, IL&FS.
Banking stocks extended recent gains on reports that the credit-deposit ratio of the banking sector had hit an all-time high of 74.13% as at end FY 2007. State Bank of India (SBI) rose 1.8% to Rs 1018, ICICI Bank gained 1.3% to Rs 884 and HDFC Bank rose 1.4% to Rs 993.80.
The markets have gained some more points and is trading very strong on account of buying interest witnessed across the sectors.At 11.35 am the Sensex is up 229 points at 13613.13 while Nifty is up 66 points at 3983.80.
TCS rose ahead of its Q4 results, which are scheduled today. The stock rose nearly 3% to Rs 1298. ONGC gained 2.6% to Rs 893, after a newspaper reported that the company planned a public offering to part-finance a planned Rs 18000 crore refinery-cum-petrochemicals complex, after the exit of the project's co-owner, IL&FS.
Banking stocks extended recent gains on reports that the credit-deposit ratio of the banking sector had hit an all-time high of 74.13% as at end FY 2007. State Bank of India (SBI) rose 1.8% to Rs 1018, ICICI Bank gained 1.3% to Rs 884 and HDFC Bank rose 1.4% to Rs 993.80.
Labels: Nifty.Sensex
posted by SY at 11:33 AM
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