Markets surge in afternoon trade
The market surged in opening trade, tracking rally in Asian stocks. Most of the sectoral indices edged higher on BSE.The markets have surged and are trading at day's high on account of heavy buying seen in scrips across sectors. Sensex is trading well above 18,000 mark and has breached 18,100 with a hefty gain of 900 points. Nifty has breached 5,300 mark and is up nearly 300 points.
At 12.05 hrs IST, the Sensex is up 914.58 points or 5.31% at 18136.32, and the Nifty up 278.35 points or 5.53% at 5311.80.
Stocks rose in Asia today, 25 January 2008, buoyed up by several factors including strong corporate sentiment in Germany and a return of some confidence in the US economy after solid employment data and a congressional fiscal package. The Bush administration's fiscal package includes $150 billion of tax rebates and business incentives meant to prevent a slowdown in the country's economy.
India's wholesale price index rose 3.83% in the 12 months to 12 January 2008 marginally higher than the previous week's rise of 3.79%, government data showed on Friday, 25 January 2008. The annual inflation rate was 6.15% during the corresponding week of the previous year.
Meanwhile, all-India bank strike has prompted stock exchanges, BSE and NSE, to cancel clearing and settlement of trades, scheduled to be held today. Settlement of trades done on Wednesday, 23 January 2008, will be now done on Monday, 28 January 2008.
Reliance Industries (RIL) rose 3.75% to Rs 2584.
Among the Sensex gainers, Reliance Energy surged 10.91% to Rs 2014, ONGC soared 9.93% to Rs 1038, ICICI Bank climbed 10% to Rs 1245.85, Ranbaxy Laboratories flared up 7.31% to Rs 372.15, Mahindra & Mahindra moved up 6.53% to Rs 666.50 and Tata Motors gained 6.43% to Rs 704.
The BSE Metal index was up 5.24% to 14,965.50. National Aluminum Company (Nalco) surged 11.82% to Rs 429, JSW Steel soared 1.68% to Rs 980, Steel Authority of India (Sail) climbed 7.39% to Rs 215, Jindal Stainless flared up 6.61% to Rs 2070 and Tata Steel rose 6.20% to Rs 713.
The BSE Auto index was up 4.48% to 4,771.85. Escorts surged 9.14% to Rs 93.75, Hero Honda Motors jumped 6.33% to Rs 690, Bajaj Auto climbed 4.99% to Rs 2215, Apollo Tyre moved up 3.77% to Rs 46.80 and Maruti Suzuki India rose 3.44% to Rs 825.
At 12.05 hrs IST, the Sensex is up 914.58 points or 5.31% at 18136.32, and the Nifty up 278.35 points or 5.53% at 5311.80.
Stocks rose in Asia today, 25 January 2008, buoyed up by several factors including strong corporate sentiment in Germany and a return of some confidence in the US economy after solid employment data and a congressional fiscal package. The Bush administration's fiscal package includes $150 billion of tax rebates and business incentives meant to prevent a slowdown in the country's economy.
India's wholesale price index rose 3.83% in the 12 months to 12 January 2008 marginally higher than the previous week's rise of 3.79%, government data showed on Friday, 25 January 2008. The annual inflation rate was 6.15% during the corresponding week of the previous year.
Meanwhile, all-India bank strike has prompted stock exchanges, BSE and NSE, to cancel clearing and settlement of trades, scheduled to be held today. Settlement of trades done on Wednesday, 23 January 2008, will be now done on Monday, 28 January 2008.
Reliance Industries (RIL) rose 3.75% to Rs 2584.
Among the Sensex gainers, Reliance Energy surged 10.91% to Rs 2014, ONGC soared 9.93% to Rs 1038, ICICI Bank climbed 10% to Rs 1245.85, Ranbaxy Laboratories flared up 7.31% to Rs 372.15, Mahindra & Mahindra moved up 6.53% to Rs 666.50 and Tata Motors gained 6.43% to Rs 704.
The BSE Metal index was up 5.24% to 14,965.50. National Aluminum Company (Nalco) surged 11.82% to Rs 429, JSW Steel soared 1.68% to Rs 980, Steel Authority of India (Sail) climbed 7.39% to Rs 215, Jindal Stainless flared up 6.61% to Rs 2070 and Tata Steel rose 6.20% to Rs 713.
The BSE Auto index was up 4.48% to 4,771.85. Escorts surged 9.14% to Rs 93.75, Hero Honda Motors jumped 6.33% to Rs 690, Bajaj Auto climbed 4.99% to Rs 2215, Apollo Tyre moved up 3.77% to Rs 46.80 and Maruti Suzuki India rose 3.44% to Rs 825.
Labels: Nifty.Sensex
posted by SY at 12:40 PM
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