Sensex up 121 points as stocks open on firm note on positive global

Sensex up 121 points as stocks open on firm note on positive global cues

Last Updated: Tue, Mar 05, 2013 04:20 hrs
Sensex dives to 6-wk closing low, ends below 16,000

Stocks surged higher in early trades on the Indian bourses this morning, with investors tracking positive global cues and indulging in some brisk buying at several counters. Still, amid lingering worries about near term economic outlook, the mood is somewhat cautious at present.

Realty, FMCG and bank stocks are among the top gainers. Oil, capital goods, power and metal stocks are also trading reasonably firm. Select information technology and automobile stocks have edged higher, while consumer durables and healthcare stocks are a bit subdued.

The BSE benchmark Sensex, which spurted more than 150 points to 19035.60 in early trades, is currently at 18,998.73, up 120.77 points or 0.64% from its previous close. The Nifty index of the National Stock Exchange is up 40 points or 0.7% at 5738.50.

Tata Motors is trading 2.5% up following the company reducing prices of some cars, including Indica, to boost sales. Maruti Suzuki is up by about 1%.

ICICI Bank is trading stronger by 2.3% at Rs 1082. Hindalco, Jindal Steel & Power, Sterlite Industries, Tata Steel, Reliance Industries and Wipro are up 1% - 1.4%.

Tata Consultancy Services, HDFC, BHEL, State Bank of India, Infosys and Hindustan Unilever are also trading firm.

DLF is up 2.3% on reports the company's board will meet on Wednesday to consider offer of securities for achieving the minimum public shareholding as per regulatory norms.

Jaiprakash Associates, Ultratech Cement, IDFC, Sesa Goa, HCL Technologies, Ambuja Cements, Reliance Infrastructure and Cairn India are up 1% - 2.2%.

Bajaj Auto, Power Grid Corporation, Bharti Airtel, Lupin, Dr Reddy's Laboratories, Sun Pharmaceutical Industries and Bank of Baroda are trading weak.

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