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Sensex up more than 150 points, looks set to end on bright note

Source : SIFY
Last Updated: Thu, Oct 18, 2012 09:30 hrs
People walk pass BSE building in Mumbai

Realty, bank, power, capital goods and automobile stocks are trading firm on the Indian bourses where the mood is fairly bullish this afternoon. Select stocks from consumer durables, metal, oil, FMCG and information technology sectors are trading higher. Healthcare stocks are mostly subdued.

The BSE benchmark Sensex, up 158 points or 0.85% at 18,768.69, looks well on course to end the session on a high note today. The Nifty index of the National Stock Exchange is up 51.55 points or 0.91% at 5711.80/



Tata Power is up nearly 3% thanks to sustained buying at the counter. State Bank of India is up 2.6% and Tata Motors is trading higher by a little over 2%. Hero Motocorp (1.7%), Larsen & Toubro (1.5%), Hindalco (1.2%), ICICI Bank (1.1%), Sterlite Industries (1%), HDFC Bank (1%) and Tata Consultancy Services (1%) are also up with strong gains.

HDFC, Reliance Industries, Tata Steel, ITC, Maruti Suzuki, Coal India, Bajaj Auto, Infosys and Mahindra & Mahindra are trading firm as well.

Jaiprakash Associates, the top gainer in the Nifty index, is up 4.6%. Axis Bank, Bank of Baroda, Reliance Infrastructure, HCL Technologies, Punjab National Bank, DLF, Kotak Bank and IDFC are also up with impressive gains.

Bharti Airtel, Sun Pharmaceutical Industries, Wipro, Cairn India, Grasim Industries, Ranbaxy Laboratories and GAIL India are down with sharp to moderate losses.

Dish TV India Ltd has posted a net profit of Rs. 550.90 million for the quarter ended September 30, 2012 as compared to net loss of Rs. (485.60) million for the quarter ended September 30, 2011. Total Income has increased from Rs. 5081.50 million for the quarter ended September 30, 2011 to Rs. 5416.50 million for the quarter ended September 30, 2012. The stock is down 2.2% at Rs 78 at present.

Karnataka Bank is trading sharply higher thanks to impressive results. The stock is up more than 4% on strong buying at the counter following the company reporting an almost three-fold jump in net profit at Rs 117 crore for the second quarter ended September 2012 due to lower provisioning. The private sector bank had a profit of Rs 41.08 crore in year ago quarter. The bank’s net interest income grew by 28% at Rs 233 crore, while provisions and contingencies fell 52.5% at Rs 22.75 crore in September 2012 quarter over the previous year. Net interest margins improved to 2.39% from 2.2% during the recently concluded quarter.

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