Markets scale new highs
Markets scale new highs The BSE benchmark index opening strong at 17,467.41 touched an all time high of 17,729.94 in the opening bell. The Sensex continues to trade higher as sustained buying interest was witnessed in the heavyweights; further positive global cues led the rally. All sectors are trading in positive. Asian stocks advanced on Wednesday (October 3) after Citigroup made an offer to buy the remaining 32% of Nikko Cordial Corp. Many analysts are of the opinion that this may spur up merger & acquisitions. The financial stocks had sunk after the US subprime slump. BSE Sensex is trading at 17,716.38, up 387.76 points, while NSE Nifty is trading at 5,196.85, up 127.9 points (10. 20 a.m). > Technical Analyst, Vishwas Agarwal said, “Market may move sidew ays in the coming session due to the unexpected events, but the overall mode of the market is positive and strong.“ Showing no sign of bearishness Vishwas said, “I will be bearish only after FII inflow turns negative or slows down and corporates come out with poor results than their past performances. The support for BSE is at 17,150 and 16,666 and the upward target is 17,777 and 18,000.“ Follow RIL and SBI to track market momentum, adds Vishwas.
body{margin:0px; font-family:Arial;} .heading{font-size:22px; padding:3px; color:#002b99; font-family:Tahoma;font-weight:bold} .subhead{background-color:#e3e3e3; font-size:14px; padding:3px;} .newstext{color:#004276; font-size:14px; padding:3px;font-family:arial} .redbar{background-color:#a60000; font-size:10px; color:#FFFFFF;padding:3px;} .black{background-color:#000000; font-size:10px; color:#FFFFFF;padding:3px;} .smalltext{font-size:10px; padding:3px;}
The BSE Midcap rose 0.50% and BSE Smallcap rose 0.56%.
Out of 2005 stocks traded at the BSE, 1,559 advanced, 412 declined while 34 remained unchanged.
Amongst the sectoral indices, BSE Auto rose 0.97%, BSE Bankex rose 1.93%, BSE IT rose 2.09% and BSE Realty rose 7.02%, BSE Metal rose 2.155%.
Key gainers amongst the Sensex include Reliance Comm which soared 7.04% to touch Rs 655.00, followed by Reliance Energy which rose 3.24% at Rs 1,393.10 and Grasim rose 2.79% at Rs 3,700.00.
NTP C, ONGC, Infosys, Reliance Industries and TCS also moved up.
Currently there are no losers at the BSE Sensex.
