Technology stocks spur while Auto stocks dip
Mumbai -- The market continues to trade with positive bias and has surged higher in the afternoon trades. Metal and Technology stocks have pushed the markets higher. At 2:09pm (IST), the BSE 30-share Sensex has jumped by 71 points at 12141 and NSE 50-share Nifty is up by 17 points to 3510. Satyam Computer, Tata Chemicals, Dr Reddy’s Labs, Hindalco, Colgate and MTNL are the major gainers among the 50-scrips of the NSE Nifty.
Financial Technologies has surged higher by 0.7% to Rs. 1642 after the company entered into a Joint Venture deal with Mother Dairy Foods Processing Ltd and MCX (Multi Commodity Exchange of India Ltd.) to establish the SAFAL National Exchange of India Ltd (SNX). The scrip has touched an intra-day high of Rs. 1657 and a low of Rs. 1631 and has recorded volumes of over 11,000 shares on BSE.
Technology stocks are moving further with gains. Satyam Computer has spurred by 2.5% to Rs. 845, Wipro has advanced by 1% to Rs. 518, Polaris is up by 0.7% to Rs. 116 and Infosys is up by 0.5% to Rs. 1825.
Unlike, tech stocks, Auto stocks are down on back of profit booking. Tata Motors has dipped by 0.7% to Rs. 854, Hero Honda is down by 0.4% to Rs. 769, Maruti has lost by 0.3% to Rs. 939 and Bajaj Auto has slipped by 0.3% to Rs. 2785.
Similarly, Suryajyoti Spinning has shed by 1.4% to Rs. 35. The company has announced that it would establish a specialty bottom weight fabric weaving, dyeing & finishing facility in technical collaboration with an Italian company. The scrip has touched an intra-day high of Rs. 36 and a low of Rs. 34 and has recorded volumes of over 13,000 shares on NSE.
PBM Polytex has also lost by 2.1% to Rs. 27. The Board of Directors of the company is considering setting up windmill power project at an initial investment of Rs. 65mn. The scrip has touched an intra-day high of Rs. 28 and a low of Rs. 27.
