SFY: Sensex up 330 pts as buying resumes @ 11:02 hrs
The market, which gave up some gains after a buoyant start, has rallied again thanks to resumption of buying in several blue chip stocks. Realty and information technology stocks continue to hog the limelight.
Oil stocks, led by heavyweight Reliance Industries, have rallied sharply. FMCG, bank and pharma stocks have also posted sharp gains. Metal stocks, despite coming off their early highs, remains fairly well placed in the positive territory.
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Auto stocks have pared some gains. Capital goods and power stocks remain a bit subdued though a select few from these sectors have firmed up smartly. Even as a host of midcap stocks continue to trade firm with most of their gains intact, several smallcap stocks have declined on selling pressure.
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The Sensex, which spurted to 15,711.51 a little while ago, is up 287.34 points or 1.87% at 15,692.28 at present. The Nifty index of the National Stock Exchange has gained 1.82% or 83.05 points at 4646.95.
Jaiprakash Associates, the top gainer in the Sensex at present, is up 4.75% at Rs 203.60. DLF has gained 3.8%. Infosys Technologies has gained around 3.5%. ICICI Bank (3.4%) and Hindalco (3.3%) are also up sharply.
Reliance Industries, which suffered a big loss and contributed significantly to the market's sharp plunge yesterday, is up nearly 3% this morning. Sterlite Industries, Tata Consultancy Services, Wipro and Grasim Industries have gained 2% - 2.75%.
ACC, Hindustan Unilever, ITC, Tata Motors, Reliance Infrastructure, Mahindra & Mahindra, Larsen & Toubro, State Bank of India, ONGC and Maruti Suzuki are also trading with notable gains.
Tata Power has shed more than 2% at Rs 1282.80. Tata STeel is down nearly a percent at Rs 441.30. NTPC and BHEL, the other losers in the Sensex, are down by 0.85% and 0.25% respectively.
India Bulls Real Estate, the top gainer among BSE 'A' Group stocks, is up nearly 8%. Torrent Power has gained 5.8%. Canara Bank has notched up a gain of 5.5%. HDIL, Jubilant Organosys, Opto Circuit, Hindustan Construction Company, Godrej Industries, India Cements, Cipla, Unitech, Balrampur Chini, Voltas and IRB Infrastructure have also risen sharply this morning.
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Suzlon Energy, Pantaloon Retail, Tata Communications, Container Corporation, Spice Telecom, Idea Cellular, ABB, Oracle Financial Services and BEML are down with sharp losses.
