Markets build on morning gains (Lead)

February 4th, 2009 - 1:27 pm ICT by IANS  

SensexMumbai, Feb 4 (IANS) Indian equities markets, which opened higher Wednesday, continued to build on the morning’s gains around noon, with a key index up 2.02 percent over its previous close.The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was at 9,296.05 points, 1.6 percent or 146.75 points higher than Tuesday’s close. It had opened at 9,226.2 points, higher than its previous close at 9,149.3-point close.

At the same time, the broader-based S&P CNX Nifty of the National Stock Exchange (NSE) was at 2,828.95 points, 1.62 percent up than its previous close of 2,783.9.

Broader market indices were down with the BSE midcap index trading 0.46 percent lower and BSE smallcap losing 0.66 percent.

Of the 13-sectoral indices on the BSE, the metal and banking indices were up, indicating such stocks were doing better than others.

Leading the gainers’ list on the Sensex at this time were Jaiprakash Associates (up 4.98 percent at Rs.69.60), Reliance Communications (up 4.64 percent at Rs.167), Tata Steel (up 4.57 percent at Rs.178.50) and Sterlite Industries (up 3.81 percent at Rs.277.75).

The only losing scrip was Hindustan Unilever (down 0.08 percent at Rs.264.25).

Asian markets were also up with a key index of the Tokyo Stock Exchange, the Nikkei 225 Stock Average ruling 2.89 percent higher at 8,051.42.

The Hang Seng, a key index of the Hong Kong Stock Exchange, rose 2.53 percent over its last close.

In the US, Wall Street stock indices gained Tuesday ending a three-day downward spiral, riding a few positive earnings reports and an increase in a key measure of home sales.

The blue-chip Dow Jones Industrial Average rose 141.53 points, or 1.78 percent, to 8,078.36. The broader Standard and Poor’s 500 Index was up 13.07, or 1.58 percent, to 838.51.

Technology-heavy Nasdaq Composite Index rallied 21.87 points, or 1.46 percent, to 1,516.30.

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