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Sensex up 378 points as bulls stay aggressive

Source : SIFY
Last Updated: Fri, Sep 14, 2012 06:19 hrs
Sensex drops 0.7 pct; banks down ahead of GDP data

With the bulls remaining quite aggressive, the market, which opened on a buoyant note this morning on strong global cues, remains high up in positive territory now.

The U.S. Federal Reserve's stimulus to boost U.S. economic growth, the hike in diesel price and expectations of a rate cut announcement from the Reserve Bank of India early next week, are aiding the rally.

The BSE benchmark Sensex, which rose to 18,456.33, is currently at 18,398.98, up 377.82 points or 2.1% from its previous closing mark. The Nifty index of the National Stock Exchange is up 116 points or 2.13% at 5551.35, slightly off the day's high of 5564.05.

Among bank stocks, sector majors State Bank of India, ICICI Bank and HDFC Bank are up 4.4%, 4.8% and 1.6%, respectively. Axis Bank, Bank of India, Bank of Baroda, Canara Bank, IDBI Bank, IndusInd Bank, Kotak Bank, Punjab National bank and Union Bank of India are up 3% - 5%, while Yes Bank is trading more than 6% up.

Several other bank stocks, that are not part of the Bankex, are also up in positive territory with handsome gains thanks to sustained buying support.

Among metal stocks, Tata Steel, Sterlite Industries, Sesa Goa, SAIL and Jindal Steel are up 3% - 5%, while Hindalco is trading higher by around 7%. JSW Steel is up with a gain of 2.4%.

Automobile majors Bajaj Auto, Hero Motocorp, Mahindra & Mahindra, Maruti Suzuki and Tata Motors are up 2% - 4.2%. Ashok Leyland is also trading firm, gaining nearly 3%.

Among capital goods stocks, heavyweights Larsen & Toubro and BHEL are up 4% and 1.8% at Rs 1473.80 and Rs 204.40, respectively. Punj Lloyd, Crompton Greaves, AIL, ABB, Bharat Earth Movers, Bharat Electronics, Havells India, Jindal Saw, Praj Industries, Siemens and Thermax are up 1% - 3%.

Among the stocks in the Realty index, DLF is up nearly 6% and Indiabulls Real Estate is trading stronger by 8.7%. Anant Raj Industries, HDIL and Unitech are up 4% - 4.8%. DB Realty, Oberoi Realty, Phoenix Mills and Sobha Developers are also up with strong gains.

Tata Power, Reliance Industries, GAIL India, HDFC, Infosys, NTPC, ONGC and Dr Reddy's Laboratories are also up with strong gains.


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