Mumbai, Feb 9: The benchmark indices continued the uptrend for the second consecutive day and ended the day sharply higher led by short covering. The Nifty has tested 2900 mark as well as the Sensex hit 9600 level in last half an hour of trade, after 20 sessions. Buying in shares of oil & gas, banking, metal, power, capital goods and telecom companies have lifted the markets higher.
Broader indices also joined the same league througout the session, due to which market breadth was in favour of advances; about 1706 shares advanced while 1128 shares declined. Nearly 170 shares are unchanged.
The 30-share BSE Sensex has touched an intraday high of 9,601.56, before closing the day at 9,583.89, up 283.03 points or 3.04 per cent over previous close. The 50-share NSE Nifty ended with a gain of 76.80 points or 2.7 per cent at 2919.90, after hitting a high of 2926.75.
Markets moving up; oil&gas, banking gain
The benchmark indices have gained further on the back of support from oil&gas, banking, metal, capital goods, pharma stocks and Bharti Airtel. The buying also continues in midcap and small cap stocks.
The Sensex was trading at 9,419, up 118 points and Nifty was at 2,872, up 29 points, at 1.43 hours IST. BSE Midcap and Small cap indices went up 1-1.4 per cent.
ONGC, Reliance Industries, HDFC, SAIL, ICICI Bank, Sterlite, SBI, BHEL, Tata Steel, L&T, Sun Pharma and HDFC Bank are biggest supporters in today's trade. However, Power Grid, Wipro, ITC, TCS, Idea, M &M and HCL Tech are under pressure.
Benchmark Indices witnessing buying interest
The benchmark indices are witnessing buying interest despite some volatility. The equity markets are getting support from capital goods, banking, realty, metal and select power stocks. Midcap and small cap stocks are following the same trend. However, sell-off continues in Wipro, ITC, Sun Pharma, TCS and cement stocks.
The Sensex went up 115 points, to 9,416 and the Nifty jumped 23 points, to 2,866, at 10:30 hours IST. BSE Midcap and Small cap indices gained more than 1 per cent.
Reliance Industries, HDFC, Bharti Airtel, ICICI Bank, SAIL, SBI, L&T, Sterlite, Infosys, HDFC Bank, and Tata Steel are supporting markets.
Markets volatile; Infosys, HDFC among gainers
Benchmark indices have started quiet in early trade amidst greater volatility. Asian markets have opened good and is impacting our markets. Metal, private banks and realty stocks are witnessing buying interest.
At 9.56 am, the Sensex went up 54 points, to 9,354 and the Nifty gained 5 points, to 2,848. CNX Midcap rose 0.32 per cent, to 3,350.
Among frontliners, Unitech, DLF, Suzlon, ICICI Bank, Tata Motors, Sterlite, Tata Steel, Hindalco, HDFC, HDFC Bank and Infosys have gained while ONGC, Bharti, NTPC, ITC, Ambuja Cements, Sun Pharma, TCS and ACC are under pressure.
OneIndia News (With inputs from Agencies)