Thursday, December 27, 2007

Markets trade higher

The market opened higher following gains in index heavyweights ICICI Bank and Reliance Industries. Tata Steel rose for the second consecutive day. Realty, metal and consumer durables stocks were in demand. IT stocks slipped. Asian markets, which opened before Indian markets, were mixed.The market slipped into the red in afternoon trade but recovered from there.

At 2:02 pm, the Sensex was up 78 points at 20270, and the Nifty up 22 points at 6092.

India’s largest private sector firm by market capitalization & oil refiner Reliance Industries fell 0.20% to Rs 2890.95.

India’s largest private sector bank by assets ICICI Bank rose 1.20% to Rs 1234.India’s second largest software exporter by sales Infosys Technologies rose 0.08% to Rs 1813.40.

Hindalco Industries moved up 2.53% to Rs 214.70, ITC rose 2.55% to Rs 204.75, Reliance Energy gained 1.95% to Rs 2153.10, ONGC climbed 1.63% to Rs 1256.30 and HDFC Bank flared up 1.36% to Rs 1726.10.

Bajaj Auto declined 2.77% to Rs 2607.70, Bharti Airtel fell 2.47% to Rs 958.25, Reliance Communications gave away 1.45% to Rs 732.25, Grasim Industries shed 1.13% to Rs 3576 and Tata Motors fell 0.94% to Rs 745.

Among the mid-caps, ISMT surged 20% to Rs 134.05, Raymond soared 8.15% to Rs 434, CMC spurted 7.94% to Rs 1,396.55, Castrol India jumped 7.47% to Rs 312.10 and SpiceJet rose 7.43% to Rs 74.50.

Among the small-caps, Sagar Cement surged 20% to Rs 435.90, Kalindee Rail Nirman (Engineers) soared 20% to Rs 517.35, KRBL spurted 20% to Rs 146.80, Hindustan Organic Chemicals jumped 16.67% to Rs 94.50 and Era Infra Engineering climbed 15.07% to Rs 333.20.

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