Sensex, Nifty surge in late trade

Mumbai, Jan 16: Key indices ended sharply higher on Friday as foreign funds accelerated buying in index-related stocks, taking cues from firm global markets. However, investors shied away from placing their bets on midcaps and smallcaps.

Bombay Stock Exchange's Sensex ended at a provisional 9,313.51, up 266.77 points or 2.95 per cent. The index rose to a high of 9,342.47 after opening at 9,125.65.

National Stock Exchange's Nifty rose 3.36 per cent or 81.1 points at 2828.60. The index touched a high of 2820.20 and low of 2724.20 so far.

BSE Midcap Index ended at 0.53 per cent at 3,026.83 after rising to a high of 3,046.90 earlier in the day. BSE Smallcap Index was up 0.07 per cent at 3,412.77.

Biggest Sensex gainers were NTPC (7.54%), Reliance Infrastructure (7.25 per cent), Reliance Industries (6.76 per cent), Bharti Airtel (4.63 per cent) and Tata Power (5.11 per cent).

Losers comprised DLF (-3.51 per cent), Grasim Industries (-1.11 per cent), Tata Consultancy Services (-1.38 per cent), ACC (-0.27 per cent) and Maruti Suzuki (-0.22 per cent).

Market breadth remained positive with 1243 advances against 1156 declines on the BSE.
4.18PM

Frontline stocks firm; Tier II, III lose momentum
Key indices firmed up gains in afternoon trade on sustained buying in energy, power and PSU stocks. However, second line stocks pared most of their early gains. At 1:30 pm, Bombay Stock Exchange's Sensex climbed 2.02 per cent or 182.67 points to 9,229.41. The index touched a high of 9,260.44 and low of 9,125.65 so far. National Stock Exchange's Nifty rose 2.03 per cent or 55.45 points to 2792.15. The index rose to a high and low of 2806.15 and 2724.20 respectively.

Investors shied away from midcap and smallcap stocks. The BSE Midcap and Smallcap indices were up 0.48 per cent and 0.2 per cent respectively. Biggest Sensex gainers were NTPC (5.39 per cent), Reliance Communications (4.53%), Reliance Industries (4.52 per cent), Reliance Infrastructure (3.8 per cent) and Bharti Airtel (3.36 per cent).

Losers comprised DLF (-5.22 per cent), Wipro (-1.61 per cent), Tata Consultancy Services (-1.49 per cent), ACC (-0.9 per cent) and Grasim Industries (-0.9 per cent).
2.52 PM

Equities extend gains; Nifty above 2800

Equities were trading on a firm note with energy and power stocks leading advances. However, realty and technology shares edged lower.

Larsen & Toubro extended gains after the construction and engineering firm said it has entered into a deal with Westinghouse Electric for 1,000 megawatt nuclear reactors in India. Westinghouse Electric is a unit of Japan's Toshiba Corp. The L&T stock was up 3.48 per cent at Rs 729.30.

Shares of Punj Lloyd rose nearly 5 per cent in early trade after the construction and engineering firm said its joint venture had won a contract worth Rs 1,311 crore in Libya. Shares eased some gains and were trading up 3.2 percent at Rs 115.

At noon, Bombay Stock Exchange's Sensex climbed 2.11 per cent or 190.61 points to 9,237.35. The index touched a high of 9,250.49 and low of 9,125.65 so far. National Stock Exchange's Nifty rose 2.44 per cent or 66.9 to a high of 2803.60.
12.35 PM

Equities open higher; Satyam surges
Equities opened higher on Friday, Jan 16 in line with Asian peers. Stocks, which were badly beaten in Thursday"s trade, picked up steam.Secondline stocks were also in demand. Bombay Stock Exchange"s 30-share Sensex rose 78.95 points to 9125.65. National Stock Exchange"s benchmark Nifty climbed 25.40 points to 2754.90 from Thursday"s, Jan 15 close.

US stocks ended slightly higher on Thursday amid optimism the government will act to prevent the year-long recession from deepening, offsetting news that Bank of America was seeking fresh government aid, which fueled worries about the health of the financial sector.

The Dow Jones Industrial Average rose 12.67 points, or 0.15 per cent, to 8,212.81. The S&P 500 Index gains 1.12 points, or 0.13 per cent, to 843.74. The Nasdaq Composite Index adds 22.20 points, or 1.49 per cent, to 1,511.84.

10.20 AM