At 10:28 IST, the 30-share BSE Sensex was up 157.50 points or 0.93% at 17,013.18. It opened 147.13 points higher at 17,008.03. The barometer index hit a high of 17,033.83 in early trade. At the day’s high, Sensex 172.93 gained points. Sensex rose 90.05 points at day’s low of 16,951.95 touched in early trade
The broader based S&P CNX Nifty gained 36.75 points or 0.73% at 5,049.20
The market breadth was strong on BSE with 1302 shares advancing as compared to 315 that declined. 27 remained unchanged.
Source : Capitalmarket.com
The total turnover on BSE amounted to Rs 912 crore
Among the 30-member Sensex pack, 26 advanced while the rest slipped.
India's largest private sector aluminium manufacturer in terms of sales Hindalco Industries surged 4% to Rs 182 on 1.50 lakh shares. It was the top gainer from Sensex pack.
Jaiprakash Associates (up 3.69% to Rs 255.50), Reliance Infrastructure (up 3.30% to Rs 1401.90), and DLF (up 2.27% to Rs 636), edged higher from Sensex pack.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) was up marginally by 0.06% to Rs 2556 on 81,402 shares.
India’s largest cigarette manufacturer in terms of sales ITC declined 1.35% to Rs 220.80 on 40,109 shares. It was the top loser from Sensex pack.
Bharti Airtel, the country’s largest telecom services provider in terms of market capitalisation slipped 0.91% to Rs 830.60. UAE's Emirates Telecommunications Corp said on Monday, 12 May 2008, it was evaluating a bid for South African telecom firm MTN. This may compel Bharti Airtel to raise its indicative offer, which media reports said valued MTN at about $37 billion.
ONGC (down 0.47% to Rs 1024), and Mahindra & Mahindra (down 0.22% to Rs 661), edged lower from Sensex pack.
Recently listed Aishwarya Telecom jumped 4.09% to Rs 103.10 on high volumes of 86.20 lakh shares.
Among the side counters, MphasiS (up 10% to Rs 242.75), Futura Polyester (up 9.98% to Rs 33.60), and UCO Bank (up 8.84% to Rs 48.15), surged
Asian markets were trading higher barring China’s Shanghai Composite which fell 2.58% at 3,533.54 led on uncertainty following a deadly earthquake in southwest China on Monday, 12 May 2008 and the central bank's announcement of the fourth bank reserve ratio hike this year.
Hang Seng (up 0.66% at 25,227.91), Nikkei 225 Average (up 1.36% at 13,930.77), Straits Times (up 0.28% at 3,189.10), Seoul Composite (up 0.52% at 1,833.21), Taiwan Weighted (up 1.43% at 8,955.96) advanced.
US markets rallied yesterday, 12 May 2008 led by financials and technology stocks after the world's largest bond insurer MBIA said it has enough cash to cover claims. Also the drop in oil prices helped ease investors worries about inflation's impact on consumer spending. The Dow Jones industrial average rose 130.43 points, or 1.02%, to 12,876.31. The Nasdaq Composite index rose 42.97 points, or 1.76%, to 2,488.49.
Back home, frenzied buying in late trade helped market snap its five-day slide yesterday, 12 May 2008. The 30-share BSE Sensex rose 123.83 points or 0.74% to 16,860.90 and the broader based S&P CNX Nifty was up 30.05 points or 0.60% at 5,012.65, on that day.
India's industrial production growth dropped sharply to 3% in March 2008, slowing from the previous month's unrevised 8.6%, government data showed on Monday, 12 May 2008. It was the slowest annual growth since a 2.4% rise in February 2002.
Manufacturing production rose 2.9% in March 2008 from a year earlier, compared with 8.6% growth in February 2008. Industrial output rose 8.1% in 2007/08 compared with 11.6% in 2006/07.
As per provisional data, foreign funds sold shares worth a net Rs 210.57 crore yesterday, 12 May 2008. Domestic funds bought shares worth a net Rs 241.01 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 572.46 crore in the futures & options segment yesterday, 12 May 2008. They were net buyers of index futures to the tune of Rs 184.03 crore and bought index options worth Rs 311.27 crore. They were net buyers of stock futures to the tune of Rs 73.19 crore and bought stock options worth Rs 3.97 crore.
New York's main oil futures contract, light sweet crude for June delivery, was 73 cents lower at $123.50 as profit taking helped cool a red-hot market.