May 28, 2012, 01.07 PM IST

Markets Live: Sensex gains on strong Asian cues; BHEL, SBI, Tata Power up

The benchmark indices continued to trade higher in the morning trade. The NSE Nifty was hovering around 4950. Technical analyst Sudarshan Sukhani of s2analytics.com has a mildly bullish stance on Nifty and expects it to be in the trading range of 4,800-4,950 for the entire week.

Source: Moneycontrol.com

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10:34

The BSE Sensex gains 0.5%, while the 50-share NSE index is up 0.6% in morning trade. State Bank of India gained 2.1% while Tata Motors is flat ahead of earnings due on Tuesday.

Asian shares edge up as opinion polls showing a lead for Greece's pro-bailout camps help ease risk aversion.

With pressure mounting on the Indian government to consider a partial rollback of a petrol price hike, investors also on hold to see if the government musters the courage to increase diesel and LPG prices.

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Foreign investors were net sellers of Indian stocks worth Rs 6.24 billion on Friday, provisional exchange data showed, and total net sales of Rs 8.51 billion for the week.

Technical analyst Sudarshan Sukhani of s2analytics.com has a mildly bullish stance on Nifty and expects it to be in the trading range of 4,800-4,950 for the entire week.

All BSE sectoral indices trading were trading in green barring IT index. The BSE banking index has outperformed other sectoral indices; it was up over 1%. Stocks like Reliance, ITC, Infosys, ICICI Bank and HDFC Bank were major contributor to the Sensex.

Top gainers on the Sensex were BHEL at Rs 214.40 up 2.88%, SBI at Rs 2,052.90 up 2.39%, Tata Power at Rs 90.60 up 1.63%, Bharti Airtel at Rs 303.40 up 1.59% and M&M at Rs 647.30 up 1.43%.

However, top losers on the Sensex were GAIL at Rs 331.45 down 1.44%, HUL at Rs 416.50 down 1.06%, ONGC at Rs 255 down 0.82%, Maruti Suzuki at Rs 1,112.50 down 0.41% and TCS at Rs 1,217.85 down 0.3%.

Most active shares on BSE were SBI, Wockhardt, Reliance Comm, Jubilant Food and Tata Steel.

Index heavyweight Reliance was trading at Rs 700.45 up 1.22% from its previous close of Rs 692.00.

Cigarette major ITC was trading at Rs 234.70 up 1.27% from its previous close of Rs 231.75.

FMCG major Hindustan Lever was trading at Rs 416.50 down 1.06% from its previous close of Rs 420.95.

Refinery major HPCL was trading at Rs 300.00 down 0.17% from its previous close of Rs 300.50.

About 1438 shares advanced, 546 shares declined, and 1439 shares remain unchanged.

09:16

Markets Live: Nifty hits 4950 mark in opening bell; Rel Comm up 4%

It was a quiet start for the Nifty on the first day of the expiry week. Auto, banks and capital goods stocks were on buyer's radar today. The broader markets also opened with decent gains.