Markets rise upwards

At 15:17 the BSE 30-share Sensex has gained by 73 points at 10682 and the NSE 50-share Nifty is up by 17 points at 3146

The markets advanced further led by buying in heavy weights like Satyam Computers, TISCO, Reliance, ONGC and Infosys. At 15:17 the BSE 30-share Sensex has gained by 73 points at 10682 and the NSE 50-share Nifty is up by 17 points at 3146. Tech stocks are at the limelight. The Tech Indices has added 1.5% at 3800.64. Others like FMCG, Oil and Gas and Metal stocks has lifted the markets up in positive territory.

The markets moved further led by buying in Reliance Industries, Infosys, HLL, SBI and ITC. The Sensex added 86 points at 10695 and NSE Nifty was up by 23 points at 3151.

The markets moved upward led by buying in Reliance Industries, Infosys, HLL, SBI and ITC. Volatility kept the bulls out for most part of the day as the markets moved in & out of the positive territory on lack of any fresh trigger from the global markets. In a flat to positive markets across the globe, the Indian markets managed to close higher as Frontline stocks held firm. IT, FMCG, Oil and Gas and Metal stocks were the major gainers. While Auto stocks witnessed huge activity after the auto companies announced their monthly sales numbers. A late burst of buying in the noon trades took the benchmark Sensex to a high of 10729.92 after touching a low of 10589.46.

Nikkei added 0.43%, Hang Seng Index rose by 0.36% and S&P/ASX 200 Index was up by 0.36%. While European markets were steady to firm in the early trades.

FMCG stocks rose yet again on hopes of better monsoons. HLL gained by 3.2% to Rs. 236, ITC was up by 1% to Rs. 184, Colgate climbed 5.5% to Rs. 411, Archies surged by 1.2% to Rs. 122 and Marico India gained by 2.8% to Rs. 453.

Monthly sales numbers kept auto stocks in action. However, Despite strong sets of monthly numbers Auto stocks pared its gains. M&M lost by 0.6% to Rs. 618, Maruti Udyog lost 0.3% to Rs. 793 and Bajaj Auto was down by 0.3% to Rs. 2740. However TVS surged by 1.4% to Rs. 99.25. Tata Motors June sales was up by 36.9% at 45223 units. M&M June Tractor sales rose up 32% at 10,410 units. Bajaj Auto sales rose 33% in June to 213,918 units

Tech stocks closed on a positive note on expectation of impressive Q1 results. Satyam Computers gained by 1.3% to Rs. 719, Infosys surged by 2.4% to Rs. 3154 and Rolta India rose by 0.6% to Rs. 148 and HCL Technologies gained by 0.8% to Rs. 509. However Wipro lost by 2.2% to Rs. 502. Fall in Rupee against the Dollar help will benefit the major technology firms as US market is on the major source of revenue for the Indian Tech companies.

Cement stocks were mixed. ACC lost by 0.2% to Rs. 781, Grasim was down by 1.8% to Rs1899 Gujarat Ambuja shed by 0.4% to Rs. 99, Prism Cement came down by 0.5% to Rs. 27.90. While India Cements surged by 6.3% to Rs. 154.40 and Jai Prakash Associates gained by 3.8% to Rs. 407.

Metal stocks edged higher. SAIL gained by 0.4% to Rs. 81, Hindalco rose by 0.4% to Rs. 176, Sterlite Industries surged by 0.7% to Rs. 409 TISCO climbed over 1.6% to Rs. 542 and Jindal Steel gained by 2% to Rs. 1429.