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| Sensex, Nifty remain buoyant as blue chips trade firm @ 13:05 hrs
Asian markets rallied smartly on hopes global economy is inching its way up. The splendid recovery there has contributed significantly to the gains back home. Short-covering ahead of expiry of April series derivatives contracts too has played a role in lifting stock prices up.
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The Sensex is up 239.61 points or 2.18% at 11,241.36. The Nifty has gained 71.35 points or 2.12% at 3433.70.
Information technology, bank, power, realty, oil and auto stocks have rallied sharply on sustained buying support. A host of capital goods, PSU, pharma and metal stocks too have posted sharp gains. After remaining subdued for a long time, FMCG stocks have edged higher in early afternoon trade.
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With the mood remaining quite bullish, only a few stocks, Tata Motors, Tata Steel, Ranbaxy Laboratories and Larsen & Toubro, among the Sensex components, are down in the negative territory now. Among these stocks, Tata Motors is down by a little over half a per cent and the rest are down just marginally from their previous closing levels.
ICICI Bank, DLF, Wipro, Sun Pharmaceuticals, Infosys Technologies and HDFC have gained 3.5% - 4%. Jaiprakash Associates is up with a gain of 3.35%.
Reliance Infrastructure, ONGC, Tata Consultancy Services, Reliance Communications, Reliance Industries, HDFC Bank, Tata Power, NTPC, State Bank of India and Sterlite Industries have gained 2% - 3%. Mahindra & Mahindra, BHEL, Grasim Industries, ITC, ACC, Bharti Airtel, Hindustan Unilever and Hindalco have also gained notable ground in the positive territory.
Suzlon Energy and Hero Honda are up by around 6% now. Tata Communications, Reliance Capital, Axis Bank, Siemens, GAIL India, Reliance Petroleum, Punjab National Bank, SAIL, Power Grid Corporation, Cipla, ABB, Reliance Power and BPCL are also trading firm today.
Though buying remains a bit selective in midcap and smallcap stocks, the market breadth remains fairly strong. On BSE, out of 2271 stocks seen in action, 1212 stocks are up in the positive territory. 974 stocks have posted losses and 85 stocks trade flat.
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