Shares rose 1 percent in early trade on Wednesday
Shares rose 1 percent in early trade on Wednesday to their highest level since February 2008, with ICICI Bank and Reliance Industries leading the gains, taking cues from strong Asian markets. Leading the pack were metals, realty and banking stocks. However, IT continued to languish post Infosys Q1 results.
Sensex breached the 18 k mark to trade at 18,125, advancing by 139.10 points. The Bombay Stock Exchange sensitive index opened the day at 18,024.95 against the previous close of 17,985.90. The 30-share index touched a high of 18,167.22 in the early minutes.
Nifty inched toward the 5500 level gaining 37.85 points or 0.70 per cent to rule at 5438.50. The National Stock Exchange benchmark opened at 5402 versus Tuesday’s close of 5400.65 and moved higher to touch 5453.45. The 50-share index saw a low of 5401.30.
“We expect the Indian markets to open in the green following positive global cues. Important resistance to watch out for on the Nifty is 5,475. Realty and metal stocks could outperform today. IT stocks could underperform,” said HDFC Securities in its morning note.
News beuro,
- Last Modified: July 14, 2010
- Filed Under: Latest News, MARKETS, NATION, WORLD
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