Markets holding firm in afternoon tradeApril 21st, 2008 - 2:39 pm ICT by admin
Mumbai, April 21 (IANS) The Indian equities markets were trading firm in afternoon trade Monday on sustained buying in blue-chip stocks. The market opened higher today, as buoyant global markets overshadowed a steep 50 basis points hike in cash reserve ratio (CRR) announced by the Reserve Bank of India late last Thursday.
At 12.30 p.m., the 30 share Bombay Stock Exchange sensitive index was trading at 16,689.26 with a gain of 208.06 points or 1.26 percent.
At the same time, the S&P Nifty was trading at 5,031.50; it gained 73.10 points or 1.47 percent.
The market breadth was strong. On the BSE, 1,885 shares advanced as compared to 434 that declined; 46 remained unchanged.
All the 30-members from the Sensex pack advanced. Software pivotals extended previous week’s rally boosted by good future guidance from IT bellwether Infosys Technologies last week.