Sensex up 48 points

The Bombay Stock Exchange benchmark Sensex today registered a moderate gain of 48 points after erasing early losses suffered on IT major Infosys' poor first quarter numbers.

The 30-share index opened on a weak note and touched an intra-day low of 17,855.85 following Infosys' announcement of an over 2 per cent decline in its first quarter profit.

The key index, however, bounced back to close 48.70 points up at 17,985.90 on the back of strong activity at the Reliance Industry counter, which gained Rs 19 to Rs 1,074.75 on some favourable reports.

Similarly, the broad-based National Stock Exchange index Nifty gained 17.65 points to 5,400.65, its highest closing level in the last one year.

The IT bellwether Infosys Technologies reported a fall of 2.4 per cent in its June quarter net profit. The company's consolidated net profit declined to Rs 1,488 crore against Rs 1,525 crore in the same quarter last year. The IT firm's stock lost Rs 99.65 or 3.44 per cent to Rs 2,795.30.

European markets opening higher also helped revive buying activity, marketmen said.

The recovery was supported by realty, consumer durables and refinery stocks. In the Sensex, 17 advanced and 12 ended with losses, while Hero Honda remained unchanged.

With the buying activity was spread over a wide front, small cap and mid cap segment indices ended higher by 0.72 per cent each at 9,393.70 and 7,380.25 respectively.

Monday market looks Bullish

2 feb 2010
Market looks Bullish and may go upside, Nifty is expected to go 4920 level, other stocks to watch for rise is Ambuja Cement, Cipla, ONGC, Reliance industries.

Indian Stock Market gains due to central bank action

Friday 29/Jan/2010

Sensex of the Bombay Stock Exchange ,which opened at 16,253.82 points, shut shop at 16,357.96 points, up 51.09 points or 0.31 percent from its previous close at 16,306.87 points.

It had earlier fallen over 325 points or nearly 2 percent to 15,982.08 points below its previous close, soon after the Reserve Bank of India announced a 75 basis points hike in the cash reserve ratio as fears spread it would result in industry facing a crunch to raise credit.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed at 4,882.05 points against the previous close at 4,867.25 points -- a gain of 0.3 percent.

Broader markets also witnessed a change in sentiments with buying resulting in the BSE midcap index closing 1.01 percent up and the BSE small cap index ending 1.2 percent higher.

Banking stocks, realty and consumer goods scrips saw buying interest, while FMCG, metal and telecom stocks came under selling pressure.

The market breadth was positive with 1,471 stocks advancing against 1,354 scrips declining and 62 remaining unchanged.

Among gainers on the Sensex were ICICI Bank, up 5.29 percent at Rs.830.40; BHEL, up 3.1 percent at Rs.2,406.45; SBI, up 2.37 percent at Rs.2,058; and DLF, up 2.54 percent at Rs.332.80.

Top losers included Hindustan Unilever, down 4.44 percent at Rs.244.10; Wipro, down 3.8 percent at Rs.647.40; Tata Motors, down 2.92 percent at Rs.694.35; and Tata Steel, down 2.83 percent at Rs.569.