Sensex Gains 225 Pts in early trade, Banking Sector among gianers
The bulls, with international markets giving them the boundary, surprised the prime Indian stock exchanges at the stroke of the opening bell and ascended valuations of blue chip securities to upper positions in the early trade.
Today, the benchmark BSE Sensex opened up with a huge positive gap of 156 points at 14,581.35 in subsequent trading activity. After some time, it reached to an upper position with a massive gain of 225.08 points at 14,649.95, whereas the Nifty is also up by about 59.60 points at 4249.75.
Banking stocks, chaired by sector majors State Bank of India (3.7%), ICICI Bank (3.6%) and HDFC Bank (1.75%) have rallied cleverly. The SBI counter is rising upwards on the back of the bank merging State Bank of Saurashtra with itself.
Federal Bank,Punjab National Bank, Karnataka Bank, Indian Bank, Centurian Bank of Punjab, Dena Bank, IDBI, Bank of Baroda, Allahabad Bank, Union Bank of India, Canara Bank, Yes Bank, Axis Bank, Andhra Bank, Indian Overseas Bank, Kotak Bank, , Corporation Bank and UCO Bank have all gained in strength.
Reliance Industries came up 1.25% and reached Rs 1023, ONGC gained nearly 1.45% at Rs 816.801. HDFC made a profit of 1.3% at Rs 1933, Larsen & Toubro and BHEL climbed up by 1.15% and 1.3% correpondingly.
On the other hand, auto scrips including Mahindra & Mahindra, Tata Motors, Maruti Udyog and Bajaj Auto, metal stocks comprising Tata Steel and Hindalco, power majors such as Reliance Energy and NTPC, cement stocks Grasim Industries and ACC, telecom major Reliance Communications and pharma stock Ranbaxy Laboratories have advanced between 1% and 2.5%.
IT majors comprising Wipro, Tata Consultancy Services and Satyam Computers have made profit of 0.5%-1%. Infosys Technologies is also up with a mild gain of 0.3%. Moser Baer, Patni Computers, HCL Technologies, MphasiS, Financial Technologies, I-Flex Solutions and Rolta India have recorded strong gains.
Zee Entertainment, VSNL, Sterlite Industries, Suzlon Energy, SAIL, MTNL, Tata Power, ABB, Siemens, Reliance Petroleum, BPCL and IPCL are among the prominent gainers in the Nifty index.