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Mkt close near day's high: Tech stocks surge
Published on Tue, Apr 15 at 12:12 , Updated at Tue, Apr 15 at 18:29
Source : moneycontrol.com
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The markets closed near day's high after a sluggish start. Technolgy stocks bucked the treand with IT major coming positive set of numbers inline with street expectations. IT index gained a whopping 6% with Infosys, TCS, Wipro, HCL Tech among the top gainers on the bourses. The broader markets also closed higher with breadth is in the favour of advances. Oil, pharma, realty and power sectors also ended higher. Sensex closed up 346.02 points or 2.19% at 16153.66, and the Nifty up 101.85 points or 2.13% at 4879.65. About 1857 shares have advanced, 937 shares declined, and 280 shares are unchanged. The BSE Midcap Index ended at 6,604.42 up 1.2%. The BSE Smallcap Index ended at 8,204.39 up 1.5%. The BSE Bankex closed at 8,002.40 up 1.3%. IOB, ICICI Bank, Centurion bank, Axis closed in green. The BSE Capital Goods Index closed at 13,421.59 up 1%. Suzlon, Reliance Infra, Siemens, Triveni Engineering closed higher. The BSE Auto Index closed at 4,464.93 up 1%. Apollo Tyres, Escorts, Ashok Leyland, Hind Motors closed higher. The BSE Metal Index closed at 14,017.64 up 0.3%. SAIL, JSW Steel, Jindal Steel, Jindal Stainless, Hind Zinc closed higher. The BSE FMCG Index closed up 2% at 2,362.71. Colgate, ITC, Nestle, Marico, HUL, Dabur ended higher. BSE Oil and Gas Index closed at 11,333.93 up 2.8%. BPCL, HPCL, IOC, Reliance Natura, GAIL ended higher. The BSE IT Index was at 3,862.48 up 5.5%. HCL, Infosys, Tech mahindra, TCS, Wipro, Tech Mahindra closed higher. The NSE cash turnover was at Rs 14066.78 crore and the NSE F&O turnover was at Rs 46369.75 crore. The BSE cash turnover was Rs 5846.51 crore. Total market wide turnover was at Rs 66283.04 crore. Mkt trades higher: IT, power stocks rally The markets continue to trade at the higher levels supported by technology pivitols after inline set of numbers by IT major Infosys. Both the frontline indices are trading near day's high. Technology stocks are hogging the limelight with IT index up over 5%. TCS, Wiro and Infosys are up over 7% each. The broader, markets are doing well helping the breadth is in the favour of advances. Midcap IT stocks are also trading with smart gains. At 2.14 hrs IST, the Sensex is up 376.11 points or 2.38% at 16183.75, and the Nifty up 129.65 points or 2.71% at 4907.45. About 1775 shares have advanced, 1000 shares declined, and 299 shares are unchanged. Top gainers on the bourses Ranbaxy was up 9%, Infosys, TCS, Ranbaxy and HCL Tech while losers - HDFC, HDFC Bank, Hindalco and Nalco. IT index is up 5.5% with Infosys, TCS, HCL Tech were up over 6% each. Orchid Chem, Reliance Petroleum, Infosys and Reliance Industries were most active shares. Technology stocks have outperformed the markets on Infosys good numbers and guidance. BSE IT Index was up 3.6% as buying seen in Infosys (up 4.7%), TCS (up 3.7%), Wipro (2.8%) and Satyam (2.7%). Telecom stocks are also witnessing buying interest. The BSE TEck Index rose 1.6%. However, banking, metal, realty and oil stocks are under selling pressure. The BSE Bankex, Metal, Realty and Oil & Gas indices were down 1.1%, 1.03%, 0.43%, and 0.37%, respectively. 12:56 pm: After a sluggish start in the morning the markets have moved upwards amid volatility. Both the frontline indices are trading near day's high. Technology stocks are hogging the limelight with Infosys numbers being better than street expectations. The IT index is up over 3% with Infosys and HCL Tech up over 5% and TCS up over 4% followed by Satyam up over 3%. The broader, markets are doing well helping the breath to recover. Midcap IT stocks are also trading with smart gains. At 12.46 hrs IST, the Sensex is up 239.33 points or 1.51% at 16046.97, and the Nifty up 88.55 points or 1.85% at 4866.35. About 1713 shares have advanced, 1047 shares declined, and 314 shares are unchanged. Top gainers on the bourses Ranbaxy was up 9%, Infosys, TCS, Ranbaxy and HCL Tech while losers - HDFC, HDFC Bank, Hindalco and Nalco.IT index is up 5.5% with Infosys, TCS, HCL Tech were up over 6% each. Orchid Chem, Reliance Petroleum, Infosys and Reliance Industries were most active shares. Technology stocks have outperformed the markets on Infosys good numbers and guidance. BSE IT Index was up 3.6% as buying seen in Infosys (up 4.7%), TCS (up 3.7%), Wipro (2.8%) and Satyam (2.7%). Telecom stocks are also witnessing buying interest. The BSE TEck Index rose 1.6%. However, banking, metal, realty and oil stocks are under selling pressure. The BSE Bankex, Metal, Realty and Oil & Gas indices were down 1.1%, 1.03%, 0.43%, and 0.37%, respectively. Mkts choppy: Technology stocks gain After a sluggish start in the morning the markets have moved upwards amid volatility. Both the frontline indices are trading flat. Technology stocks are hogging the limelight with Infosys numbers being better than street expectations. The IT index is up over 3% with Infosys and TCS up over 4% followed by Satyam up over 3%. The broader ,markets are doing well helping the breath to recover. Midcap IT stocks are also trading in green. The Asian markets are trading mixed but are off the day's lows. At 11.27 hrs IST, the Sensex is up 33.77 points or 0.21% at 15841.41, and the Nifty up 9.35 points or 0.20% at 4787.15. About 1554 shares have advanced, 1200 shares declined, and 320 shares are unchanged. Top gainers on the bourses were Infosys, TCS, Ranbaxy and HCL Tech while losers - HDFC, HDFC Bank, Hindalco and Nalco. Orchid Chem, Reliance Petroleum, Infosys and Reliance Industries were most active shares. Technology stocks have outperformed the markets on Infosys good numbers and guidance. BSE IT Index was up 3.6% as buying seen in Infosys (up 4.7%), TCS (up 3.7%), Wipro (2.8%) and Satyam (2.7%). Telecom stocks are also witnessing buying interest. The BSE TEck Index rose 1.6%. However, banking, metal, realty and oil stocks are under selling pressure. The BSE Bankex, Metal, Realty and Oil & Gas indices were down 1.1%, 1.03%, 0.43%, and 0.37%, respectively. 10:29 am: The markets have turned into choppy mode ahead of results announcements and reacting to mixed Asian cues after weak opening in morning trade. Infosys numbers did not support the markets to boost though they are better than expectations. Market breadth is positive. At 10.29 hrs IST, the Sensex was down 30.65 points or 0.19% at 15776.99, and the Nifty down 4.35 points or 0.09% at 4773.45. About 1503 shares have advanced, 1233 shares declined, and 338 shares are unchanged. Top gainers on the bourses were Infosys, TCS, Ranbaxy and HCL Tech while losers - HDFC, HDFC Bank, Hindalco and Nalco. Orchid Chem, Reliance Petroleum, Infosys and Reliance Industries were most active shares. Technology stocks have outperformed the markets on Infosys good numbers and guidance. BSE IT Index was up 3.6% as buying seen in Infosys (up 4.7%), TCS (up 3.7%), Wipro (2.8%) and Satyam (2.7%). Telecom stocks are also witnessing buying interest. The BSE TEck Index rose 1.6%. However, banking, metal, realty and oil stocks are under selling pressure. The BSE Bankex, Metal, Realty and Oil & Gas indices were down 1.1%, 1.03%, 0.43%, and 0.37%, respectively. At 9:56 am - The markets have opened lower on the back of marginally weak global cues and selling pressure in banking, power, metal, realty, oil, capital goods and auto stocks. Market breadth is negative. Midcap and small cap stocks also slipped. On the global front, Asian markets were trading mixed. At 9:56 am, the Sensex was down 202 points at 15,605 and the Nifty down 58 points at 4,719. ICICI Bank, SBI, L&T, BHEL, Reliance, Axis Bank, PNB, Tata Motors and DLF were down. Infosys was up 2.2% at Rs 1459 after announced of Q4 and FY08 numbers, which are inline with the expectations. It has posted posted FY08 net profit of Rs 4659 crore as against Rs 3856 crore in FY07 and net sales at Rs 16692 crore versus Rs 13893 crore. Asian markets were trading mixed. Shanghai Composite was down 1.33%, Hang Seng down 0.30% and Seoul Composite down 0.41% while Jakarta Composite rose 0.5%, Nikkei up 0.97%, Straits Times up 0.09% and Taiwan up 0.20%. US markets fell for a second day as Wachovia declared an unexpected first quarter loss. On the other hand, a US government report declared better-than-expected growth in retail sales. The Dow Jones industrial average slipped 23.36 points, or 0.19%, to 12,302.06. The Nasdaq composite index dropped 14.42 points, or 0.63%, to 2,275.82. Market cues:
F&O cues:
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