Mkts in positive terrain; infrastructure, financials rise
At 13:56 hours IST – the benchmark indices gained some strength but the volatility was not yet out of the markets. Infrastructure, banking, select telecom stocks along with Reliance Industries were witnessing buying interest. The Sensex was inching towards the 14,000 mark while the Nifty was moving towards 4250 level.
Among the frontliners, Reliance Industries, NTPC, ICICI Bank, L&T, Reliance Petroleum, Reliance Capital and ABB gained 3.5-5%. Bharti, HDFC, Infosys, SBI, HDFC Bank and Axis Bank went up 1-2%.
However, the sell-off in ONGC, Sterlite, Reliance Communication, TCS, Wipro, ACC, Grasim, Tata Power, and realty and auto stocks capped the gains.
The Sensex was trading at 13,917, up 181 points and the Nifty rose 31.6 points, to 4,242, at 13:56 hours IST. Among the broader indices, the BSE Midcap Index was up 1% and Smallcap Index surged over 2%.
Market breadth was positive; about 1992 shares advanced while 807 shares declined. Nearly 325 shares were unchanged.
Among the midcap stocks, Redington shot up 17.5% post FY09 numbers. Karnataka Bank gained 14.10% ahead of Q4 numbers on Monday. Nirma, Thomas Cook and Bayer Cropscience went up 10-12%.
In the smallcap space, Zandu Pharma, Indian Metals, Astra Microwave, NIIT and Deepak Fertilisers gained 16.5-20%.