Markets climb back after brief slip (Lead)

April 13th, 2009 - 1:48 pm ICT by IANS  

Sensex Mumbai, April 13 (IANS) Indian equities markets climbed back into the green Monday after briefly slipping into the red following a higher opening. A key index was ruling about 0.65 percent above its last closing figure around noon.
At this time, the Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened at 10,916.43 points, was at 10,873.98 points, 0.65 percent or 70.12 points higher than its previous close Wednesday.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) was at 3,352.75 points, 0.32 percent up from its last close at 3,342.05 points.

Broader market indices like the BSE midcap and BSE smallcap were doing better, with the BSE midcap index trading 2.54 percent higher, and the BSE smallcap index up 2.53 percent.

Of the 13 sectoral indices on the BSE, the indices for metal, banking and auto stocks gained the most.

Among the gainers on the Sensex were Tata Steel, up 8.92 percent at Rs.284.50; HDFC Bank, up 5.92 percent at Rs.1,108; Sterlite, up 5.57 percent at Rs.417.90, and Tata Motors, up 5.37 percent at Rs.237.25.

The losers included Wipro, down 3.72 percent at Rs.264; TCS, down 2.88 percent at Rs.585.80; Hindustan Unilever, down 2.23 percent at Rs.227.75, and Infosys, down 1.97 percent at Rs.1,398.40.

Among other stocks in the thick of action was Satyam Computers, the management bid for which was won by Tech Mahindra around the same time. The Satyam stock surged 14.63 percent to rule around Rs.54.05, close to its upper circuit limit of Rs.56.55.

Over two million Satyam stocks (20,555,085) had changed hands till about noon.

The scrip of pharmaceutical company Pfizer also soared on opening as its New York-based parent Monday said it will make an offer to acquire a further 33.77 percent in the Indian subsidiary for Rs.6.8 billion, offering Rs.675 per share.

The Pfizer scrip opened higher Monday and was trading at Rs.687, about 10.27 percent higher than its previous close. The 52-week high for the stock is Rs.698, which it touched April 16 last year.

In other Asian markets, a key Japanese index - the Nikkei of the Tokyo Stock Exchange - closed about 39.68 points in the red, at 8,924.43 points.

However, the Hang Seng, a key index of the Hong Kong Stock Exchange, was ruling at 14,901.41 points, 2.95 percent higher than its last close.

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