Sensex rises 185 pts as buying gains momentum

Last Updated: Fri, Mar 08, 2013 08:36 hrs

With stocks gaining in strength on sustained buying support, the market, which opened on a firm note this morning, has moved further up north in afternoon trade.

The Sensex, which rose to 19,608.04, is now up 185.22 points or 0.95% at 19,598.76. The Nifty index of the National Stock Exchange is up 55.15 points or 0.94% at 5918.45.

Oil, FMCG and PSU and capital goods stocks are mostly up with impressive gains. Metal stocks are up on reports the Supreme Court has permitted some mines in Karnataka to reopen. Bank and power stocks too are trading notably higher. Consumer durables, healthcare and realty stocks are also attracting buyers. Automobile stocks have come off their highs and information technology stocks are trading weak.

Among the stocks in the Oil & Gas index, heavyweights Reliance Industries and ONGC are up 1.7% and 2.2%, respectively. BPCL is up nearly 4%, Hindustan Petroleum Corporation is up 2.7% and Indian Oil Corporation is up with a gain of 1.7%. Cairn India is up 2.5%, Castrol India is gaining around 3%, Oil India is up 2.8% and GAIL India is trading 1.8% up.

FMCG stocks United Breweries and United Spirits are up 5.5% and 2.3%, respectively. ITC, Godrej Consumer Products, Dabur India, Hindustan Unilever, Jubilant Foodworks, Nestle India and Tata Global Beverage are up 0.5% - 2%.

Jindal Steel & Power is trading stronger by 3.2%. HDFC is up 2.8%. Hero Motocorp. IDFC, Jaiprakash Associates, Tata Steel and Coal India are also up with strong gains.

Maruti Suzuki, Ambuja Cements, Tata Motors, Infosys, DLF, Dr Reddy's Laboratories, Tata Consultancy Services and Wipro are down 0.4% - 2%.

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