Markets gain 600 points; energy, cap goods up

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posted on 16 years ago — updated on 1 second ago

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Market breadth has been very good with over 900 stocks on the rise.

Mumbai: The markets have gained further as some more buying interest was witnessed in the scrips across sectors led by realty, power, metal and banking. Global cues have been very supportive on Thursday as Asia is trading strong following another day of gains on Wall Streel.

Broader markets are also trading in line with frontline counters. BSE midcap and smallcap index are up over 2.5 per cent each.

Market breadth has been very encouraging with over 900 stocks on the advancing side and nearly 120 stocks on the declining side on NSE. However, the volume is still a problem.

At 1025 hrs IST, the Sensex was up 643.48 points or 3.80 per cent at 17592.62, and the Nifty up 192.15 points or 3.90 per cent at 5121.60. About 1740 shares have advanced, 1218 shares declined, and 57 shares are unchanged.

Markets open with huge gap up; energy, cap goods up

The markets opened with huge gap up on Thursday on the back of strong cues from the global markets.

Asian markets are trading strong with substantial gains following surge in US markets yesterday. Oil & gas, metal, capital goods and telecom stocks surged in opening trade.

At 0956 hrs IST, Sensex was up 556 points at 17505 and Nifty was up 134 points at 5063. Major gainers in the opening trade were Reliance, Rel Comm, RPL, NTPC, SAIL, BHEL, Reliance Energy, Unitech, Hindalco, Tata Power and Suzlon.

Asian markets were trading higher. Hong Kong's Hang Seng surged 3.05 per cent or 706.66 points at 23,876.21. Japan's Nikkei shot up 2.79 per cent or 364.74 points at 13,433.04. Taiwan's Taiwan Weighted rose 2.93 per cent or 221.52 points at 7,772.07. Singapore's Straits Times advanced 2.91 per cent or 85.77 points at 3,035.31. South Korea's Seoul Composite gained 2.55 per cent or 41.62 points at 1,673.40.

US market: The Dow gained 178.83 points, or 1.45 per cent, to 12,552.24. The Standard & Poor's 500 index rose 18.35 points, or 1.36 per cent, to 1,367.21, and the Nasdaq composite advanced 53.89 points, or 2.32 per cent, to 2,373.93.

Market cues: