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Sensex up 437 pts; Reliance Infra gains over 11% @ 11:42 hrs

Source : SIFY
Last Updated: Mon, Nov 03, 2008 06:26 hrs
BSE, Sensex

The market remains high up in the positive territory as buying continues unabated at several blue chip stocks. The Sensex, which had shot up to a high of 10,358.63 in early trade today, is up with a gain of 437.09 points or 4.47% at 10,225.15 now.

Global meltdown and stock market

At 3001.85, around 43 points down from a high of 3044.40 it had touched earlier this morning, the Nifty is up 4.03 % or 116.25 points over its previous closing mark.

Stock commentary Live

Bank stocks are up with impressive gains today. Sector heavyweights ICICI Bank, State Bank of India and HDFC Bank are up by 9.2%, 8.9% and 4.25% respectively. Federal Bank, the biggest gainer in the Bankex at present, is up by as much as 11.7% at Rs 143. Yes Bank is up nearly 10% at Rs 74.65.

Stock tips for investors

Kotak Bank has gained 8.65% at Rs 366.05. Oriental Bank of Commerce, IDBI Bank, Indian Overseas Bank, IndusInd Bank, Punjab National Bank and Axis Bank are up by 6% - 8%. Allahabad Bank, Union Bank of India, Bank of India, Canara Bank, Bank of Baroda and Karnataka Bank have also recorded strong gains.

Stockometer

UCO Bank, which is not part of the Bankex, is up by 13.75% at Rs 31.10 thanks to impressive results. Corporation Bank has gained 9.5% at Rs 213.90. Andhra Bank, Indian Bank, Dena Bank, Maharashtra Bank, Central Bank of India and Vijaya Bank have also posted handsome gains today.

Top gainers

Reliance Infrastructure (up 11.25% at Rs 508) has rallied to the top spot on the Sensex gainers list now, overtaking Tata Motors (11%) and DLF (9.55%).

Worst losers

Maruti Suzuki, Hindalco, Larsen & Toubro and HDFC are up by 6.5% - 8%. Tata Steel, Tata Power, ONGC, NTPC, Jaiprakash Associates, Reliance Industries, Hindustan Unilever, Bharti Airtel, Tata Consultancy Services and BHEL also rule firm with strong gains to their credit.

Reliance Industries, ICICI Bank, SBI, Larsen & Toubro, HDFC, Bharti Airtel and HDFC Bank have all gained significant ground on strong volumes today. Reliance Capital (6.15%) has also risen sharply on impressive volumes today.


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