Markets hold on to morning gains
Vidrum / 07 Dec 2011
The Indian markets are holding on to their morning gains. Both the bourses are trading approximately 1% higher. Among the sectors, the IT, FMCG and Auto indices are also trading higher by more than 1%. On the other hand, Healthcare and Consumer Durables are trading in the red, down by 0.50%.
Asian markets continued trading higher, and extended their morning gains. The Hang Seng and Nikkei are up by 1.43% and 1.71% respectively.
The European markets have also opened in the green, following speculations that the European leaders' meeting at the end of this week will provide additional options to solve the debt crisis.
Back home, Tata Power and Jaiprakash Associates are among the leading index gainers, with both trading up 2.47%. Metals stocks continue to shine, with Hindalco, Sterlite, Tata Steel and Jindal Steel all trading up more than 1%. The IT pack, which includes Infosys, Wipro, etc., also extended their morning gains. Others in the gainers list include Hero MotoCorp, HUL, BHEL and Reliance Industries, which are trading marginally in the green zone.
Coal India, however, is among the leading index losers, down by 2.83% at Rs 383.15. Other morning losers like ICICI Bank, Cipla and Bharti Airtel continued to trade weak. Sun Pharma also gave up its initial morning gains, and is down 1.59% at Rs 516.15.
L&T is trading 1.03% higher at Rs 1328, as L&T Construction has bagged orders worth Rs 2700 cr.
Dewan Housing Finance surged 8.66% to Rs 206.35, after Arthveda, the company's fund management arm, announced the launch of a real estate fund to tap the demand in the middle income housing segment in Tier II and III cities.
Pennar Industries is up 2.93% to Rs 38.60, after the company bagged orders worth Rs 50 cr in Nov 2011, taking the order book to Rs 260 cr as of Dec 1, 2011.
The market breadth, which indicates the overall health of the market, is strong. On the BSE, 1442 shares rose, 1159 shares fell and 126 shares remained unchanged.
We expect the markets to remain volatile for the rest of the day, and advise readers to play with caution.
Asian markets continued trading higher, and extended their morning gains. The Hang Seng and Nikkei are up by 1.43% and 1.71% respectively.
The European markets have also opened in the green, following speculations that the European leaders' meeting at the end of this week will provide additional options to solve the debt crisis.
Back home, Tata Power and Jaiprakash Associates are among the leading index gainers, with both trading up 2.47%. Metals stocks continue to shine, with Hindalco, Sterlite, Tata Steel and Jindal Steel all trading up more than 1%. The IT pack, which includes Infosys, Wipro, etc., also extended their morning gains. Others in the gainers list include Hero MotoCorp, HUL, BHEL and Reliance Industries, which are trading marginally in the green zone.
Coal India, however, is among the leading index losers, down by 2.83% at Rs 383.15. Other morning losers like ICICI Bank, Cipla and Bharti Airtel continued to trade weak. Sun Pharma also gave up its initial morning gains, and is down 1.59% at Rs 516.15.
L&T is trading 1.03% higher at Rs 1328, as L&T Construction has bagged orders worth Rs 2700 cr.
Dewan Housing Finance surged 8.66% to Rs 206.35, after Arthveda, the company's fund management arm, announced the launch of a real estate fund to tap the demand in the middle income housing segment in Tier II and III cities.
Pennar Industries is up 2.93% to Rs 38.60, after the company bagged orders worth Rs 50 cr in Nov 2011, taking the order book to Rs 260 cr as of Dec 1, 2011.
The market breadth, which indicates the overall health of the market, is strong. On the BSE, 1442 shares rose, 1159 shares fell and 126 shares remained unchanged.
We expect the markets to remain volatile for the rest of the day, and advise readers to play with caution.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5614.03 | 0.81 |
| DAX | 6114.02 | 1.41 |
| CAC | 3235.58 | 1.76 |
| Hang Seng | 19212.25 | 1.43 |
| Nikkei | 8722.17 | 1.71 |
| Shanghai | 2444.07 | 0.29 |
| Sensex | 16948.9 | 0.85 |
| Nifty | 5083.8 | 0.89 |
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