Markets Extend Gains, BHEL Up After Flash Results
Shrikant / 03 Apr 2012
The Indian markets have extended their morning gains. BHEL is up after it reported growth in its net profit. The order inflow, however, remained nearly 60% lower in the last fiscal.
After a positive opening, the Indian markets have maintained their positive streak. Both the benchmark indices, Sensex and Nifty, have risen further and now stand taller by 153 and 48 points respectively.
Among the Asian peers, Hang Seng is up 1.24% while Nikkei is down by 0.59%.
The European markets have opened the day marginally positive.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| FTSE | 5,886.29 | 0.19% |
| CAC | 3,469.26 | 0.18% |
| DAX | 7,068.12 | 0.16% |
| Hang Seng | 20,776.84 | 1.24% |
| Nikkei | 10,050.39 | -0.59% |
| Shanghai | -- | -- |
| SENSEX | 17,632.09 | 0.88% |
| NIFTY | 5,366.20 | 0.91% |
Among the sectoral indices, Oil & Gas has rallied by 2.05% at this time. Power, Realty, PSU, Bankex, Metals, CD and CG are also up by over 1% each. FMCG is up with 0.48% gains. The rest of the sectoral indices are marginally down.
From the Sensex stocks, Sterlite is up by 3.14% and Hindalco is up by 3.06%. BHEL has surged by 2.86% after the flash results. ICICI Bank is holding fort with 2.26% gains. After yesterday's fall, RIL is up by 2.25%. SBI has also advanced by 2.14%. L&T, GAIL India and ONGC are all up at this time. Of the losers, Hero MotoCorp is down by 1.66%, as is Maruti Suzuki, down by 1%. Against our expectations, Sun Pharma is down 0.80%.
In other stocks, Pantaloon Retail is up 11% and Manappuram Finance has also surged by nearly 10%. NALCO, United Spirits, CRISIL and JP Associates are seen trading in the positives.
The market breadth, which indicates the overall health of the market, is positive. Out of a total of 2739 stocks, 1668 stocks advanced, 960 stocks declined and 111 stocks remained unchanged.
With the positive opening in the European markets and positive domestic cues, we expect the markets to remain volatile with a positive bias.
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