Nifty closes above 5600; cement, auto outperform
This was led by technology, auto, cement and metal companies' shares along with Reliance Industries, L&T, ONGC and NTPC.
It stayed above the 5600 mark for first time since Jan 18, 2008, despite weak European cues.
The BSE Sensex closed at 18645.06, up 85.01 points and the NSE Nifty rose 27.05 points to settle at 5604. However, the Nifty September futures ended at 19 points discount, as per provisional data.
Sensex continues to be green
At 1:20 pm, the BSE Sensex has maintained positive momentum despite weak global cues.
The Sensex was trading at 18624, up 65 points and the Nifty was at 5595, up 18 points. However, the Nifty September futures were trading at 10 points premium.
Top gainers were Ambuja Cements, ACC, Idea Cellular, L&T, Suzlon Energy, Jindal Steel and Hindalco
In the midcap space, Madras Cements, Wockhardt, Prism Cement, Dalmia Cement and Indiabulls Power were up 8-14pc.
While in the smallcap space, Andhra Cement, Parekh Aluminex, IFB Industries, Sagar Cement and Sequent Scient rallied 11.6-14.7pc.
Nifty opens with +ve bias, inching near 5600 mark
After hitting the 31-month high of 5500 mark on Monday, Sep 6, Nifty has opened on a flat note with a positive bias slightly continuing its rally towards the 5600 mark.
At 9:01 am, BSE Sensex was trading at 18586, up 26 points and BSE Nifty was at 5583, up 6.6 points.
Reliance Communications, Idea Cellular, L&T, Siemens, Hero Honda, TCS, Maruti Suzuki, Tata Motors, ICICI Bank, Sterlite Industries, Sun Pharma, Ambuja Cements, ONGC, GAIL and Reliance Industries were the early frontline gainers as they enjoyed buying interest.
However, Unitech, SBI, PNB, HDFC Bank, Bharti Airtel and Jaiprakash Associates were reeling under pressure.
The CNX Midcap rose 18 points to 9038. In the midcap and smallcap space, KEC International surged 5 per cent, Andhra Cements shot up 16 per cent, Kinetic Motor was up 3 per cent, Indiabulls Power up 5 pc, Goa Carbon and Phillips Carbon Black rose 7 to 8 per cent; and Hanung Toys, Gujarat NRE Coke and Fortis Healthcare were up 1.5 per cent. PVR surged 8 per cent.
Kingfisher Airliners and Jet Airways gained 0.5 to 0.8 per cent.
However, Ceat slipped 3.5 per cent and Apollo Tyres was down 2.5 per cent. Raymond and NHPC were down 0.7 to 1.5 per cent.
9: 25 AM