Volatile Nifty extends gains; Siemens, BPCL, HDFC up 2-3%
DATE: 11/09/2012
The 50-share NSE Nifty extended gains amid volatile trade, even after the fall in European markets on profit booking. The index rose 17.5 points to 5,380.90, supported by banking & financial, technology and public sector undertaking stocks.
Meanwhile, the 30-share BSE Sensex gained 65 points at 17,831.71. Even the broader markets advanced nearly 0.5% on positive market breadth.
Housing finance company HDFC and infrastructure financing company IDFC jumped more than 2%. Private sector lender ICICI Bank moved up 0.8% while its rivals HDFC Bank and State Bank of India remained flat after recovery.
Country's largest IT services exporter TCS extended gains to 1.5% while its rival Infosys rebounded with 0.5% gains.
PSU stocks caught in bull grip ahead of cabinet committee on political affairs meeting today evening. GAIL surged 2% while BHEL and NTPC gained 1% each. Oil & gas producer ONGC rose 0.4%. Oil retailers BPCL, HPCL and IOC rallied 1.6-2.8% on hopes of likely fuel price hike.
Shares of Siemens spiked 3%. Cigarette major ITC and top car maker Maruti Suzuki were up 1% each. Sesa Goa retained its top position in the selling list, losing 6% after the company stopped mining in Goa on government order. Sterlite Industries crashed 4.5% and Jindal Steel was down 3%.
Engineering and construction major Larsen & Toubro, FMCG major Hindustan Unilever, utility vehicle maker M&M and steel producer Tata Steel were down 0.5% each.
In the second line shares, Sun Pharma Advanced, Fresenius Kabi, Muthoot Finance, CMC and Opto Circuits shot up 8-11% while Karnataka Bank, Tulip Telecom, Jyothy Labs, Religare Enterprises and Info Edge lost 3-6%.
+POWERED BY: CAPITAL MARKET NEWS
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