Mumbai, Apr 23: The benchmark indices on Thursday, Apr 23 witnessed a strong rally mainly let by technology, metal, auto, infrastructure, cement oil & gas exploration and banking companies.
The Sensex closed above the 11,100 level while the Nifty ended above its 200 DMA (Daily Moving Average) of 3,495 as well as above the 3400 mark. Broader indices also followed the same trend but the benchmark indices outperformed these broader indices.
While Wipro, Reliance Industries, Infosys, NTPC, ONGC, SAIL, ICICI Bank, TCS, SBI, L&T, Reliance Communication, BHEL, DLF and Tata Steel gained Bharti, Unitech, Sun Pharma, ITC and ABB ended in red.
BSE Sensex tests 11k; Nifty above 3,400
The Sensex went up 265 points, to 11,082 and the 50-share NSE Nifty rose 80 points, to 3,411, at 15:02 hours IST. Broader indices were gained 0.4-0.8 pc.
As a result of buying in shares of technology, metal, power, capital goods, cement, auto, select banking stocks and in stocks like Reliance Industries, ONGC and Reliance Communication markets are trading higher. However, both indices were witnessing some selling pressure at higher levels, as Bharti, HDFC Bank, Sun Pharma, HUL, HDFC and Ranbaxy Labs were under pressure.
Markets in green; RIL, HDFC Bank results eyed
The Sensex was trading at 10,912, up 94 points and the Nifty went up 32 points, to 3,362, at 11:28 hours IST. Though the indices are trading higher, some volatility is still visible. Buying interest is seen technology, metal, auto, power and capital goods stocks.
However, individual stocks like Bharti, SBI, HDFC Bank, Unitech, HCL Tech, BPCL and Ranbaxy Labs were under pressure. Among the frontliners, Wipro, Reliance Communication, TCS, Infosys, Reliance Infrastructure, Hero Honda and Tata Steel gained 2-6.5 pc.
Markets volatile; power, tech gain
Though markets opened on a positive note, it turned choppy soon as a result of the mixed cues from the Asian markets. At 9:59 am, the Sensex was trading at 10,874, up 56 points while the Nifty was up 15 points, to 3,345. The CNX Midcap went up 16 points, to 3,861.
Reliance Power, Ambuja Cements (post earnings), Ranbaxy Labs, Tata Motors, Wipro, Sterlite, Nalco, Tata Steel, ICICI Bank, Infosys and TCS were the gainers. Unitech, Bharti, ACC, Reliance Industries (ahead of earnings), L&T, BPCL, HCL Tech, Reliance Petroleum and ITC were the major losers.