Markets bullish, break new frontiers

Mumbai: Extending its two-day winning streak, Bombay Stock Exchange benchmark Sensex shot up by more than 143 in early trade on sustained buying by funds. The markets were trading in positive terrain in early hours as index pivotal TCS, HDFC Bank and Tata Steel moved up. At 1129 hours, IST, the Sensex was up 102.71 points or 0.73% at 14159.24, and the Nifty up 34.75 points or 0.86% at 4087.2.

The 30-share-index, Sensex, which had gained over 425 points in the previous sessions, gathered another 143.88 points, over 1 per cent, to hit an intra-session record high of 14,200.41 in the first five minutes of trading.

The strong early gains were driven by firm global trends and expectations of strong earnings for the third quarter by corporates, brokers said. Similarly, the second wide-based National Stock Exchange index Nifty, surged by 47.20 points at 4099.65.

Most of the BSE-30 and NSE-50 share were in the positive zone with sizable gains, lifting the Sensex to record high. About 1699 shares have advanced, 669 shares declined, and 51 shares are unchanged.

The top gainers on the Sensex are TCS at Rs 1,362.00 up 2.77 per cent, HDFC Bank at Rs 1,091.05 up 2.61 per cent and Tata Steel at Rs 477.45 up 2.15 per cent. VSNL at Rs 449.65 up 3.13 per cent, HDFC Bank at Rs 1,091 up 2.77 per cent and Siemens at Rs 1,146.50 up 2.67 per cent are the top gainers on the Nifty.

The top percentage gainers on the BSE are CMC at Rs 920.00 up 31.81 per cent, KEC Int at Rs 484.35 up 19.99 per cent and Hisar Metal at Rs 36.45 up 19.90 per cent. Most active shares on BSE are Reliance, AdityaBirlaNuvo and Tech Mahindra.

However, Hero Honda, ITC, SBI, BPCL, HPCL and NALCO are the top losers on the indices. Index heavyweight Hindustan Lever was trading at Rs 221.25 up 0.75 per cent from its previous close of Rs 219.60. Index heavyweight Reliance was trading at Rs 1,360.55 up 1.53 per cent from its previous close of Rs 1,340.10.

Tech major Infosys was trading at Rs 2,241.00 up 0.84 per cent from its previous close of Rs 2,222.35. Cigarette major ITC was trading at Rs 170.00 down 0.79 per cent from its previous close of Rs 171.35. Refinery major HPCL was trading at Rs 301.40 down 0.9 per cent from its previous close of Rs 304.15.

(With agency inputs)