January 12, 2011 / 10:09 IST
The benchmark Nifty bounced back sharply in early trade today led by buying in financial, metal, telecom, realty, technology and select infrastructure companies' shares. Index was hovering around 5800 level amid a bit of volatility.
Among frontliners, Tata Motors, ICICI Bank, Bharti Airtel, DLF, TCS, HCL Tech, Hindalco, Sterlite Industries, Kotak Mahindra Bank, HDFC, Infosys (ahead of numbers tomorrow), Reliance Industries, Reliance Infrastructure, Suzlon, Siemens, Jaiprakash Associates and Reliance Communications were witnessing buying interest in early trade.However, Tata Steel fell 1.4% Hero Honda and L&T were on sellers' radar.At 9:17 hours IST, the 30-share BSE Sensex was trading at 19,362, up 166 points and the 50-share NSE Nifty rose 54 points to 5,808.The CNX Midcap gained 72 points at 8,332. The BSE Smallcap Index went up 44 points to 9,063 and Nifty Junior shot up 99 points to 11,421. Breadth was strong; about 707 shares advanced as against 144 shares declined on National Stock Exchange.
Midcap & Smallcap space:Dena Bank, IndusInd Bank and Syndicate Bank were up 2-3.5%.Gujarat NRE Coke, Delta Corp and Educomp Solutions gained 1.8-2.6%.Praj Industries and Firstsource Solutions went up 2.5%.Shree Renuka and Bajaj Hindusthan were up 1.6-2.2%. Dhampur Sugar rose 0.4%.Pfizer was up 2.8% as its Q4 net profit jumped to Rs 43.6 crore versus Rs 25.4 crore (YoY). Wyeth was up 4.6%.However, Jupiter Bioscience fell 1.8%.Global cues:Asian markets were witnessing buying interest. Hang Seng, Nikkei and Taiwan Weighted were up 0.5-0.7%. Shanghai and Kospi rose 0.2%._PAGEBREAK_European markets gained after Portuguese Premier Socrates says Portugal won
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