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Sensex maintains morning gains, up by more than 200 pts at 12,251

Written by: Staff

Mumbai, May 2 (UNI) Markets were trading with huge gains backed by handsome fourth quarter results this afternoon.

Sensex traded 209 points up at 12,251 and Nifty traded 44 points up at 3,602 at 1402 hrs.

Even though the crude oil prices hovered above USD 73 per barrel, the bulls seemed unstoppable since this morning.

After last Friday's 490 point fall, the markets have been rising very firmly and gained 190 points on Saturday too in the three-hour special live trade to 12,042 points.

There was an across the board rally in the market this afternoon.

BSE Health Care index was having a phenomenal run up by 4.42 per cent, Dr Reddy's Lab was up by 17.46 per cent to Rs 1,681.90 and Ranbaxy was up by 11.42 per cent to Rs 526.50.

BSE metal index was also up by 3.01 per cent and BSE Bankex index was up by 3.58 per cent.Hindalco was up by 4.72 per cent to Rs 235.

The BSE midcap and smallcap indices too were up by 1.24 per cent and 1.49 per cent, respectively.

The top gainers on the BSE Sensex were Dr Reddy's Lab, Ranbaxy, Hindalco, ICICI Bank, HDFC Bank, Tata Steel, Bajaj Auto, ITC, Maruti and SBI.

Larsen&Toubro won Rs 440 crore contract for construction of four ships from Zadeko Ship Management CV of the Netherlands, the L&T scrip was up by 1.05 per cent to Rs 2,739.95.

ICICI Bank had a block deal of 10.2 lakh shares this morning in the Foreign Institutional Investor's segement at Rs 615 per share, the scrip was up by 4.40 per cent to Rs 616.20 this afternoon around 1346 hrs.

Reliance Industries was also up by 1.35 per cent to Rs 1,035.25.

Adani Exports gained around 20 per cent and was locked in circuit at Rs 73.25 this afternoon.

Indiabulls too gained heavily today touching a high of Rs 368.60 and traded 7.05 per cent up at Rs 335 at 1416 hrs, the stock had fallen heavily on Friday morning after SEBI had issued orders against the company in the IPO scam.

Earlier today, the Bombay Stock Exchange (BSE) Sensitive Index(Sensex) opened higher with a gap of 61 points at 12,103.78 as compared to the last close of 12,042 points and soon crossed the 12,200 mark touching a high of 12,285.70 in the mid-morning trade.

Earlier the National Stock Exchange (NSE) S&P CNX Nifty index too opened flat at 3,557.35 and touched a high of 3,616.00.

The losers on the Sensex were Hero Honda, Tata Power, NTPC, Satyam Computers, Infosys and Wipro.


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