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Mkts bullish on ve European cues; Nifty above 4650
Posted on: 10-06-2009 , 04:: | DY365 Bureau

The positive European cues were also being supportive to our markets; the FTSE rose 67 points, to 4,471. The CAC gained 51 points at 3,347 and the DAX went up 65 points, to 5,062.

The Sensex was trading at 15,473, up 346 points and the Nifty went up 105 points, to 4,656. Only five out of 50 Nifty stocks were in the red. The broader indices were up 0.9-1.5%. All sectoral indices were in the green.

Among the frontliners, Tata Power, Wipro, HDFC Bank, L&T, Reliance Infrastructure, HCL Tech and Cairn India were top gainers, gained 5-9%. Sterlite, HUL, ACC, NTPC, Bharti Airtel, Grasim, ICICI Bank, Reliance Communication and Tata Steel went up 2.5-4.5%.

Montek Singh while talking to Network18 said one more stimulus package would be expected and 2009-10 is expected to be difficult year.
The market breadth was in favour of advances; about 1512 shares advanced while 1308 shares declined. Nearly 323 shares were unchanged.

On the sectoral front, BSE Capital Goods, Metal, Bank, Power, TECk, Healthcare, IT, Oil & Gas and FMCG indices gained 2-3%.

Tata Tele is going to invest $2 billion for pan-India GSM rollout and it sees national rollout in 6 months. Tata Teleservices (Maharashtra) was up just over 1%.



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