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Stock market firms up in afternoon trade

Written by: Staff
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Mumbai, Dec 4 (UNI) Led by heavy weighted economy stocks, Sensex at the Bombay Stock Exchange (BSE) and Nifty at the National Stock Exhcnage (NSE) firmed up towards the afternoon on good buying support from institutional investors.

The BSE Sensex which was trailing by about 16 points from the day's opening firmed towards the afternoon and traded at 13,874.80 points, up by 30.02 points from the friday's close of 13,844.78 points. Similarly, the S&P Cnx Nifty at the NSE was hovering above the 4,000 mark at 4005.35 points, up by 7.75 points from the previous close.

According to brokers, the rise in Crude oil prices in the international market coupled with nervousness in the Asian market has initially dampened the mood, but activities picked up in the later part of the day, they said.

At the BSE, Tata Motors gained by Rs 36.55 to Rs 879.45, followed by cement giant ACC shot up by Rs 46.45 to Rs 178.70, Reliance Energy advanced by Rs 17.45 to Rs 557.70, L&T gaining by Rs 25.20 to Rs 1,404.10, Grasim shot up by Rs 32.70 to Rs 2,793 and Maruti rose by Rs 10.50 to 962.60.

Taking a cue from the findings of a leading research company, saying that the robost earnings shown by corporate India in the first half may not sustain the momentum due to slowdown in IT, affected trend on the counters, with Infosys loosing the ground by Rs 4.75 to Rs 2,189 followed by Satyam Computer registering decline of Rs 11.65 to Rs 455.20, Wipro moving down by Rs 10.50 to Rs 590.40, HDFC Bank was quoted lower by Rs 16.10 to Rs 1,104.50 housing major HDFC was also declined by Rs 19.60 to Rs 1624.

FMCG Major HLL was came under selling spree and lost by Rs 0.75 to Rs 239.70 ICICI Bank too was quoted lower by Rs 4.70 to Rs 872.

UNI MPJ KU AG1420

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