Sensex ends above 17k on +ve cues, IIP data
Mumbai, Jun 11: After suffering trade in negative zone throughout the week, the benchmarks ended the week above their psychological marks, ie Sensex above 17k mark and Nifty above 5k mark.
The markets gained strength from the better-than-expected Index of Industrial production data for Apr 2010, positive global cues and buying in heavyweights like Reliance Industries, BHEL, ICICI Bank, HDFC, TCS, HDFC Bank and SBI.
BSE
Sensex
shut
shop
at
17,064.95,
up
142.87
points;
while
NSE
Nifty
closed
at
5119.35,
up
40.75
points.
4:
40
PM
Benchmarks hold on to psychological levels
With the European markets opening on a flat note, the upward trend of the Indian markets slowed down massively. At 2 pm, BSE Sensex was trading at 17,048.23, up 126.15 points while NSE Nifty was at 5115.60, up 37.00.
Sell-off in Bharti, ONGC, Sun Pharma, Sterlite Industries, Infosys, Unitech, IDFC, Reliance Infrastructure, Power Grid, Axis Bank, BPCL, Reliance Communications, Reliance Capital, Maruti and ACC. The global cues as well as the selling pressure forced Nifty erase majority of its early gains.
However,
buying
interest
was
seen
in
banking,
FMCG,
capital
goods,
select
technology,
auto
and
metal
companies' shares.
Markets
also
gained
support
from
the
index
heavyweight
Reliance
Industries,
which
continued
its
rally
and
was
up
nearly
2.5
per
cent.
2:08
PM
Sensex
surges
200
pts
on
IIP;
RIL
rallies
2pc
After
opening
the
day
on
a
strong
note
on
positive
global
cues,
the
Sensex
surged
yet
another
200
points
celebrating
the
better-than-expected
Index
of
Industrial
Production
(IIP)
data.
Growth
across
sectors
took
the
Apr
2010
IIP
to
17.6
per
cent
versus
13.5
per
cent
recorded
in
Mar
2010.
At 12: 40 pm, BSE Sensex was at 17,107.34, up 185.26 points, while Nifty gained 50 points to trade at 5128.60.
Markets were gaining support from Financial, technology, capital goods, FMCG, auto, metal, cement and select oil & gas companies' shares.
Among the gainers index heavyweight Reliance Industries surged 2.7 per cent, HDFC, TCS, ICICI Bank, Wipro, SBI and HDFC Bank rose 1 to 2 per cent.
The
only
losers
were
ONGC,
Bharti,
Reliance
Communications,
Sun
Pharma,
Unitech,
Power
Grid,
IDFC,
Axis
Bank,
Idea
and
BPCL.
12:
44
PM
Mkts begin day on +ve note on strong global cues
Riding on the rally in the global markets, the Indian indices opened the day on a strong note. While Nifty jumped above the 5100 level, the Sensex began the day at the 17000 mark.
At 9:02 am, NSE Nifty was trading at 5125, up 47 points; BSE Sensex was at 17077, up 155 points. The CNX Midcap too went up by 62 points to 7943.
The global markets are responding to better-than-expected US jobless claims, Australia's unemployment data and good numbers from China on trading front and Spanish bond auction.
The early gainers among the frontliners were Sterlite Industries, SAIL, Reliance Industries, HDFC, ICICI Bank, HDFC, M&M, HCL Tech, Wipro, DLF, Unitech, Reliance Power, Reliance Capital, Hindalco and Suzlon Energy.
RIL rose 1.5 per cent post upgrading the stock by brokerage firm on M&A news.
The newly listed Standard Chartered Bank IDR was trading close to its issue price of Rs 104.
Among
the
midcaps
and
smallcaps,
the
gainers
were
Tata
Metaliks,
Videocon
Industries,
DCB,
Indiabulls
Financial,
Karnataka
Bank,
Jet
Airways,
HCC
while
KPIT
Cummins
lost.
9:45
AM
OneIndia News