Markets extend their gains
Shrikant / 28 Nov 2011
After a positive opening in the morning, the Indian markets have extended their gains. The 30-share benchmark index is currently trading up by 348 points, or 2.22%. The Nifty is trading up by 2.19%. The Metal index has further gained, and is now trading up by more than 400 points, or 4.06%.
The other Asian indices are still in the green, creating a wave of positive sentiment in the markets. The Nikkei is trading up by 1.56% while the Hang Seng and the Taiwanese index are up by 2% and 1.68% respectively. Shanghai's index is marginally up by 0.12%.
Meanwhile, European markets have opened in the green. CAC and DAX are up by more than 1% each, while the FTSE is up by 40 points, or 0.78%.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5,204.85 | 0.78% |
| CAC | 2,897.45 | 1.42% |
| DAX | 5,583.69 | 1.65% |
| Hang Seng | 18,042.73 | 2.00% |
| Nikkei | 8,287.49 | 1.56% |
| Shanghai | 2,383.03 | 0.12% |
| Sensex | 16,043.94 | 2.22% |
| Nifty | 4,813.20 | 2.19% |
Back home, all the sectoral indices are trading in the green. Realty, Power, Bankex, Oil & Gas, FMCG and PSU are all up by over 2%. The BSE 100, 200 and 500 indices are also up by more than 2% each.
Among the Sensex companies, Hindalco is up by more than 5.77%. Other metal stocks such as Jindal Steel, Sterlite Industries and Tata Steel are still in the green. Coal India, which was marginally up in the morning, has now gained by more than 4.58%.
In the auto space, Tata Motors is trading up by 4.37%, while Maruti Suzuki and Mahindra & Mahindra are seen in the green. Bajaj Auto, however, has shed some points, and is trading down by about 2%.
Amongst the individual stocks, Lanco Infratech has gained by 4% on its plans to hike coal prices in Australia. Educomp Solutions has gained by more than 14% over a sanction of Rs 410 cr from a PSU bank. Vascon Engineers has slipped down by 1.19%, as the company reported some misappropriation of funds in its internal audit.
The market breadth, which indicates the overall health of the market, is extremely positive. Out of a total 2945 stocks, 2032 stocks advanced while 824 stocks declined. 89 stocks remained unchanged.
We expect the markets to remain positive for the rest of the day.
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