Business Standard

Markets continue firm trades, ITC leads rally

Marginal weakness can be seen in metal and consumer durables indices; broader markets up half a per cent

SI Reporter Mumbai
Markets continued to trade in the green in late-morning trades. The Sensex has gained 101 points, or half a per cent to 19,775. Nifty is up 28 points at 5,999.

Broader markets have gained in line with the benchmark. The BSE mid-cap index has added 39 points at 6,451. Small-cap index isup 33 points at 6,123.

The rupee today lost 18 paise to Rs 54.36 against the US dollar in early trade on the Interbank Foreign Exchange due to appreciation of the American currency against the euro overseas.

Meanwhile in Asia, Nikkei is up 3.5% at 14,181 to break above 14,000 for the first time since June 2008 as the market played catch-up from an extended holiday, with last week's strong U.S. jobs data easing concerns over the health of Japan's major export market..  However, Shanghai Composite and Hang Seng were trading on a flat note.
 
The BSE realty index saw buying interest and wasup 1.2% at 1930. Healthcare and FMCG indices were up 1% each. The bankex was up 1% at 14,311 after the RBI cut repo rate by 25 basis points on Friday. However, the consumer durables and metal indices slipped marginally.

ITC was the top mover among Sensex stocks - up 1.6% at Rs 332. NTPC gained 1.8% at Rs 159. ICICI Bank recoeverd from yesterday's low and was up 1.5% at Rs 1162.  Among other key gainers were BHEL, Sun Pharma and Bharti Airtel.

On the other hand, Coal India shed 1.7% at Rs 309. Mahidnra & MAhindra, Wipro and Dr Reddy's slipped 0.5-1% each.

Emami traded higher by 3.3% at Rs 687 after its board proposed to issue bonus shares in the ratio of 1 equity share for every 2 equity shares held by shareholder.

Cable television services firm Den Networks Ltd plans to raise around $160 million (about Rs 865 crore) through issue of shares to institutional investors, including $110 million from the Goldman Sachs Group. The stock went up 1% at Rs 229.

Surat Textile Mills  shed 5% to Rs 1.36 after the company proposed to sell 5.87 per cent stake in the company through offer for sale (OFS).

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First Published: May 07 2013 | 11:28 AM IST

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