Sensex builds on early gains, moves up 121 points
Indian equities markets built on morning gains about an hour after opening bell on Friday, with a key index moving up 121 points. Earlier, the benchmark index of the BSE, the Sensex, was ruling at 15,130.27 points, 121.59 points or 0.81 percent higher than Thursday's close.business Updated: Jun 05, 2009 13:54 IST
Indian equities markets built on morning gains about an hour after opening bell on Friday, with a key index moving up 121 points.
Around 11.20 am, the benchmark index of the Bombay Stock Exchange (BSE), the Sensex, was ruling at 15,130.27 points, 121.59 points or 0.81 percent higher than Thursday's close. It opened at 15,040.24 points, higher than the last close.
The S&P CNX Nifty of the National Stock Exchange (NSE) too gained ground, moving up 0.64 percent to rule at 4,601.95 points around the same time.
Broader market indices were also ruling in the green, with the BSE midcap index up 1.06 percent than its previous close while the BSE smallcap index was trading 0.86 percent higher.
Of the 13 sectoral indices on the BSE, only the one for FMCG stocks was seen losing, while those for consumer durables, IT and auto stocks were on the gaining side.
The market breadth was positive, with 1,729 stocks advancing, 778 declining and 59 remaining unchanged.
Among gainers on the Sensex at this time were Tata Power, up 3.4 percent at Rs.1,076.95; Grasim, up 3.29 percent at Rs.2,445; Hindalco, up 3.28 percent at Rs.92.80; and Infosys, up 3.27 percent at Rs.1,680.25.
Of the losers on the Sensex at this time were ITC, down 5.16 percent at Rs.192; SBI, down 1.33 percent at Rs.1,851; Reliance Infra, down 1.27 percent at Rs.1,257.30; Reliance, down 0.74 percent at Rs.2,239.10; and Jaiprakash Associates, down 0.43 percent at Rs.230.80.
Other Asian markets were ruling mixed, with a key index of the Tokyo stock exchange, Nikkei 225 Stock Average, rising 74.68 points above its last close at 9,743.64 points.
On the other hand, the Hang Seng, a primary index of the Hong Kong stock exchange, was ruling 40.01 points down at 18,462.76 points.
A rise in oil prices helped drive US stocks higher Thursday together with improved forecasts for some of the country's top banks.
Crude oil jumped 4.1 percent to $68.81 per barrel in New York, spurring a rally in energy companies including Exxon Mobil and Chevron.
The blue-chip Dow Jones Industrial Average rose 74.96 points or 0.86 percent to 8,750.24, while the broader Standard and Poor's 500 Index climbed 10.7 points or 1.15 percent, to 942.46.
The technology-heavy Nasdaq Composite Index jumped 24.1 points or 1.32 percent to 1,850.02 points.