Nifty tests 5150; Bharti, ICICI Bank, SAIL, Wipro gain
Published on Fri, Mar 12, 2010 at 08:59 | Source : Moneycontrol.com
Updated at Fri, Mar 12, 2010 at 09:13
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Nifty tests 5150; Bharti, ICICI Bank, SAIL, Wipro gain
The benchmark Nifty started the day on a flat to positive note and remained in a consolidation phase due to lack of global cues. Technology, auto, metal, realty, select banking and capital goods stocks were gainers.
The benchmark Nifty started the day on a flat to positive note and remained in a consolidation phase due to lack of global cues. It has touched the 5150 levels in early trade. Technology, auto, metal, realty, select banking and capital goods stocks were gainers.
At 9:02 hours IST, the Nifty was trading at 5157, up 24 points and the Sensex was at 17240, up 74 points. The CNX Midcap rose 33 points to 7544 and BSE Smallcap went up 42 points to 8512. The market breadth was positive; about 526 shares advanced while 119 shares declined on the NSE.
Among the frontliners, Unitech, Hindalco, IDFC, L&T, Tata Steel, ICICI Bank, Wipro, Reliance Communications, Bharti, ACC and ONGC were seeing buying interest.
However, Idea Cellular, HUL, Sun Pharma and ABB declined.
Midcap & Smallcap Space:
Fortis Healthcare shot up 3% as the company bought Parkway (Asia's largest chain) for USD 686 million.
IL&FS Investment Managers gained 1%.
Bank of Rajasthan rose 6%, as the bank received approval for Rs 250 crore QIP.
Usha Martin gained 9%. NMDC was up just 0.6%; its follow-on public offer subscribed 80% till now.
Chemplast rose 10% and Meghmani Organics was up 5%.
Recently listed Texmo Pipes was down 1% and Man Infra down 2%
Global cues:
Asian markets quiet in trade. Nikkei rose 0.4% while others were flat.
