Markets pare gains; breadth turns negative
The market hit record high on opening, mirroring gains in the US market. Banking and auto stocks edged higher.The markets have given up some gains but are still trading in green. The market breadth has turned negative. Providing support at the lower levels are banking stocks. Select real estate, IT and auto stocks are trading strong. Midcap and smallcap indices are trading flat. FMCG and pharma stocks are trading little subdued. Most of the Asia ended lower barring Shanghai and Jakarta.
At 1.03 hrs IST, the Sensex is up 208.07 points or 1.00% at 21077.85, and the Nifty up 29.80 points or 0.48% at 6301.80.
Reliance Industries was up 1.32% to Rs 3072.India’s largest private sector bank by assets ICICI Bank jumped 5.78% to Rs 1386.20 on reports the bank will list at least 4 arms starting with ICICI Securities in next 6 months though board is yet to decide on securities arm listing.
India's top commercial vehicles maker by sales Tata Motors moved up 0.95% to Rs 777.80. Ratan Tata, chairman, Tata Motors, unveiled the People's (Rs 1 lakh) car today. The car has been christened Nano. The car would be commercially launched in the second half of 2008 and would be produced at the Singur plant in West Bengal. The car is powered by a 624 cc, 30 bhp engine. The car will deliver about 20 kilometers per litre (kpl) mileage. The company plans to launch the car in Africa, Latin America and South East Asia, as well.
DLF rose 1.64% to Rs 1188, Reliance Communication gained 1.35% to Rs 831.80, Infosys Technologies moved up 0.87% to Rs 1667, and Reliance Energy rose 0.77% to Rs 2585.10.
ACC fell 1.84% to Rs 952, Grasim Industries declined 1.88% to Rs 3386.10, Bharti Airtel fell 1.35% to Rs 959.40, and Tata Steel declined 1.57% to Rs 876.50.
The BSE FMCG index was down 1.51% to 2,452.98. ITC slipped 1.73% to Rs 224, Hindustan Unilever shed 1.41% to Rs 230.55, REI Agro fell 2.04% to Rs 952.25 and United Spirits gave away 2.71% to Rs 2035.
Among the side counters, Sobha Developers soared 8.07% to Rs 1020, Aditya Birla Nuvo climbed 4.87% to Rs 2427, Welspun Gujarat Stahl Rohren flared up 4.33% to Rs 470.20, Century Enka rose 4.12% to Rs 178 and United Phosphorous moved up 3.33% to Rs 403.
At 1.03 hrs IST, the Sensex is up 208.07 points or 1.00% at 21077.85, and the Nifty up 29.80 points or 0.48% at 6301.80.
Reliance Industries was up 1.32% to Rs 3072.India’s largest private sector bank by assets ICICI Bank jumped 5.78% to Rs 1386.20 on reports the bank will list at least 4 arms starting with ICICI Securities in next 6 months though board is yet to decide on securities arm listing.
India's top commercial vehicles maker by sales Tata Motors moved up 0.95% to Rs 777.80. Ratan Tata, chairman, Tata Motors, unveiled the People's (Rs 1 lakh) car today. The car has been christened Nano. The car would be commercially launched in the second half of 2008 and would be produced at the Singur plant in West Bengal. The car is powered by a 624 cc, 30 bhp engine. The car will deliver about 20 kilometers per litre (kpl) mileage. The company plans to launch the car in Africa, Latin America and South East Asia, as well.
DLF rose 1.64% to Rs 1188, Reliance Communication gained 1.35% to Rs 831.80, Infosys Technologies moved up 0.87% to Rs 1667, and Reliance Energy rose 0.77% to Rs 2585.10.
ACC fell 1.84% to Rs 952, Grasim Industries declined 1.88% to Rs 3386.10, Bharti Airtel fell 1.35% to Rs 959.40, and Tata Steel declined 1.57% to Rs 876.50.
The BSE FMCG index was down 1.51% to 2,452.98. ITC slipped 1.73% to Rs 224, Hindustan Unilever shed 1.41% to Rs 230.55, REI Agro fell 2.04% to Rs 952.25 and United Spirits gave away 2.71% to Rs 2035.
Among the side counters, Sobha Developers soared 8.07% to Rs 1020, Aditya Birla Nuvo climbed 4.87% to Rs 2427, Welspun Gujarat Stahl Rohren flared up 4.33% to Rs 470.20, Century Enka rose 4.12% to Rs 178 and United Phosphorous moved up 3.33% to Rs 403.
Labels: Nifty.Sensex
posted by SY at 1:35 PM
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