Market Opens Above 15,600 Mark, Gains Further Strength
Today, the 30-share BSE Sensex opened its eyes at 15,625.63. In early trades, it was trading on a sturdy note supported by strong buying interest in index heavyweights. It also touched a record high of 15,683.03. Stocks from telecom, IT, banking, cement and auto led the advancements.
According to Rahul Agarwal, Vice President, institutional sales, LKP Shares said that 15,500 was a target level. As market covered this level, it is most likely headed in the direction of 16,000 level.
He also said that the stock market will stay solid today and is bullish on telecom, technology, cement and auto sectors.
The stock market has had 895 progressions as against 230 declinations. All the sectoral indices were in positive including BSE Realty that arose 0.41%, BSE Consumer Durables, which climbed up 0.60%, BSE Auto and BSE Bankex ascended 0.52% each, BSE IT came up 0.50% and BSE Metal rose 0.80%.
The major gainers on the BSE index include M&M, which rose 1.74% to touch Rs 829.50, Bharti Airtel rose 1.47% to Rs 909.00 and NTPC rose 1.35% to Rs 158.00. L&T, ONGC, Ranbaxy and SBI were among the other gainers.
Laggards at the BSE include ACC, which declined 0.90% to Rs 1,140, Hindustan Unilever declined 0.18% to Rs 197.50, Satyam declined 0.14% to Rs 485.95 and Bajaj Auto declined 0.08% at Rs 2,379.75.