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Markets consolidate gains

SI Reporter/ 26 Nov 12 | 10:14 AM

Indian shares consolidated early morning gains on uncertainty over ability of Congress-led UPA government to pass key reforms in the winter session of the Parliamend. Tarding was also volatile ahead of Futures and Options expiry on Thursday.

At 10:05AM, The Bombay  Stock Exchange's Sensex rose 52 poinst to 18,560, while National Stock Exchange's Nifty-50 index gained 22 points to 5,637 in the morning trades.

Investors were hopeful ahead of all-party meeting the government to break Parliament logjam and discuss contentious foreign direct investment in multi-brand retail among others.

Global risk appetite remained firm after minutes of last month’s Bank of Japan policy meeting showed members calling for wider monetary easing amid hopes Greece may soon a clinch a bailout and avoid bankruptcy ahead of euro zone finance ministers meeting later in the day.

The Hang Seng fell 0.01% to 21,912, Straits Times rose 0.59% to 3,006, Nikkei rose 0.73% to 9,434 while Taiwan Weighted gained 0.74% to 7,380.

MSCI's broadest index of Asia Pacific shares outside Japan fell 0.12% to 858.42.

Back home, metals, technology and capital goods sectors on BSE lead gains while real-esate and PSU indexes were among the laggards.

Among notable stock movers, Hindustan Copper has locked in lower circuit of 20% at Rs 170 on the NSE, for second day in a row, after the government sold its around 6% stake at a huge discount.

GlaxoSmithKline Consumer Healthcare also locked in upper circuit of 20% at Rs 3,652 on the BSE, also its record high after its parent company GlaxoSmithKline Plc made an open offer to acquire additional 31.84% stake in the company at price of Rs 3,900 per share.

Jet Airways Ltd, country's biggest aviation company, rose over 10% on reports of a stake sale to Etihad Airways.

The BSE mid-cap and small-cap indices rose 0.4-0.5% each.

The overall breadth is positive as 1,087 stocks have advanced while 569 stocks declined on the BSE.

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Indian shares opened up on Monday tracking gains in Asian equities on hopes Greece may soon a clinch a bailout and avoid bankruptcy ahead of euro zone finance ministers meeting later in the day.

The Bombay  Stock Exchange's Sensex opened at 18,544.76, up 38 points while National Stock Exchange's Nifty-50 index gained 22 points to open at 5,648 in the opening trades.

All the sectors on BSE traded positive with healthcare, PSU, technology indices leading the gains.

The BSE mid-cap and small-cap indices rose 0.2-0.3% each.

The overall breadth is positive as 534 stocks have advanced while 150 stocks declined on the BSE.

(Updated at 9:22AM)

Sensex

Company Price Gain (%)
Sun Pharma.Inds.780.904.44
Hind. Unilever658.002.44
H D F C1,060.352.40
Hero Motocorp2,581.651.79
Dr Reddy`s Labs2,740.051.09

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