Markets stay in the green (Lead)June 1st, 2009 - 2:36 pm ICT by IANS
Mumbai, June 1 (IANS) Benchmark indices at the Indian equity markets gave up some of their gains after rising rapidly on opening but still managed to hold well above previous closing figures around noon Monday.
The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 14,746.51 points, gave up some of its gains to rule at 14,785.44 points, 160.19 points or 1.1 percent higher than its previous close. It had risen more than 240 points soon after opening bell.
Similarly, the S&P CNX Nifty index of the National Stock Exchange (NSE) stood at 4,514.15 points, 1.47 percent above its last close at 4,448.95. At this level the Nifty was at its nine-month high.
Broader market indices were doing a tad better, with the BSE midcap index rising 2.27 percent from its previous close, while the BSE smallcap index was up 2.37 percent.
Of the 13 sectoral indices on the BSE, only the index for banking stocks was under pressure, while indices for metal, realty and IT stocks were on the gaining side.
The market breadth was positive, with 2,030 stocks advancing, 569 declining and 49 remaining unchanged.
Among gainers at this time on the Sensex were Jaiprakash Associates, up 6.46 percent at Rs.220.90; NTPC, up 5.94 percent at Rs.228.25; Tata Steel, up 4.82 percent at Rs.425.90; and Reliance Communications, up 4.55 percent at Rs.319.70.
Among the losers were ICICI Bank, down 3.04 percent at Rs.7189.20; Bharti Airtel, down 2.68 percent at Rs.797.70; BHEL, down 1.84 percent at Rs.2,134.90; and Ranbaxy, down 1.58 percent at Rs.274.40.
Other Asian markets were in the green as well. Tokyo stocks rose Monday following Wall Street’s week-ending rally. A key index, Nikkei 225 Stock Average Nikkei, closing 155.25 points in the green at 9,677.75 points, and a broader Topix index was also up 14.61 points to 912.52.
The Hang Seng, the primary index of the Hong Kong Stock Exchange, was 618.32 points up at 18,789.32 points.
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