Wednesday, December 29, 2010

Indian stock markets trading positive; Nifty above 6000 mark

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The Indian equity benchmarks gained in the morning trading session. The Sensex gained more than 100 points, especially after consolidation for last few sessions. The Nifty has been in a range of 5950-6050 level.

Financial and metal companies' shares were leading the markets, followed by FMCG, power and oil & gas companies' shares along with Bharti Airtel, TCS, DLF, Maruti, Tata Motors and Infosys.
However, downtrend continued in Wipro, BHEL, Sun Pharma, Cipla, Reliance Communications, HCL Tech, Ambuja, M&M, Hero Honda and ACC, which capped gains a bit.

The 30-share BSE Sensex rose 139.57 points to 20,164.99 and the 50-share NSE Nifty gained 41.40 points at 6,037.40. Broader indices were outperforming benchmarks; the BSE Midcap Index was up 0.7% and Smallcap up 1%.

Among largecaps, Hindalco, Bharti Airtel, Sterlite Industries, HDFC Bank, Jindal Steel and SAIL went up 1-2% while Cipla, Wipro, BHEL, Reliance Communications, M&M and Sun Pharma declined 0.2-0.9%.

Gitanjali Gems, Ravi Kumar Distilleries, VIP Industries, Tata Motors, BF Utilities, Reliance Industries, ICICI Bank and Aban Offshore were most active shares on exchanges.

In midcap space, MindTree, Monsanto India, KGN Industries, Shriram City and Aban Offshore were up 3.7-6% while Money Matters, Sterling International, Amtek Auto, Manappuram and Info Edge lost 1.8-5%.

In smallcap space, Binani Industries surged 17%. TTK Healthcare, Sahara One, ISMT and Symphony gained 10-13% whereas Asian Hotels, Elpro Intl, SVC Resources, Midfield Industries and Spectacle Info fell 5% each.

Breadth was positive; about 1807 shares advanced while 900 shares declined on Bombay Stock Exchange.


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