Markets hold on to their morning gains
Shrikant / 26 Dec 2011
But Asian markets are mixed at the moment. The Shanghai index has remained range bound today
Benchmark Indices
Index
Rate
% Change
FTSE
5,512.70
0.00%
CAC
3,102.09
0.00%
DAX
5,878.93
0.00%
Hang Seng
18,629.17
0.00%
Nikkei
8,479.34
1.00%
Shanghai
2,189.70
-0.68%
SENSEX
15,961.63
1.42%
NIFTY
4,776.35
1.32%
All the sectoral indices except the Health Care index are trading in the green. Technology stocks are up with gains of over 2 percent.
In the Sensex, 27 stocks are trading up. Bharti Airtel is leading the gainers pack with 3.86 per cent after TDSAT put a stay on a decision to ban inter-circle 3G roaming, until the next hearing.
Auto stocks like Hero MotoCorp, Mahindra & Mahindra, Maruti Suzuki and Tata Motors are trading in the green. IT stocks - Infosys, TCS and Wipro - are also trading in the green after last week's poor performance. On the other hand, shares of Cipla, Hindalco industries and ONGC are trading in the red.
At the moment, a total 40 stocks are trading with double digit gains with Prakash Industries hitting the upper circuit.
Shares of Apollo Hospital, Crompton Greaves, Sintex Industries, Tata Communications, Idea Cellular, IFCI and Havells India are all trading with gains of over 3 per cent.
In new corporate announcements, Singapore's Changi Airports is likely to buy a 26 per cent stake in GVK's airport business (the scrip is trading up by over 7 per cent).
Zuari Industries is buying a rock phosphate mine in Latin America for an assured supply of raw material. The Zuari scrip is currently trading up by 2.38 per cent.
NTPC commissioned Unit 2 of the 660 MW Sipat Super Thermal Power on December 24, 2011.
Havells India is entering into a joint venture (JV) with Shanghai Yaming Lighting Co. It will focus on launching energy efficient and green light solutions. The stock is trading up by over 3.80 per cent .
The market breadth, indicating the overall health of the market, is positive. Out of total 2939 stocks, 1888 stocks advanced, while 935 stocks declined. A total 116 stocks remained unchanged.
In conclusion, we at DSIJ expect markets to remain positive for the day.
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