Wednesday, July 13, 2011
A rebound in global equities and short covering led to a smart pull back in today’s trade. The Sensex rises 184 points and the Nifty gains 59 points
Bajaj Finserv Q1 net profit marginally down
Sun TV dips as police summons Kalanithi Maran
NIIT Tech signs 5-year deal with Morris
Key benchmark indices snapped three-day losing streak as world stocks rose on stronger-than-expected Chinese Q2 June 2011 GDP data. The latest data showing a strong 9.5% expansion of the Chinese economy in Q2 June 2011 helped offset euro-zone debt worries triggered by Moody's Investors Service downgrading Ireland to junk status on Tuesday, 12 July 2011. The BSE Sensex jumped 184.40 points or 1%, up close to 130 points from the day's low and off close to 30 points from the day's high. The market breadth was strong.
Except the BSE IT index, all the other sectoral indices on BSE were in green. Telecom pivotals and auto stocks were in demand on fresh buying. Bank stocks rose on bargain hunting after a recent decline triggered by fears about the spread of Europe's debt crisis. Index heavyweight Reliance Industries (RIL) extended intraday gains in late trade.
Key benchmark indices moved higher in early trade tracking a recovery in Asian stocks triggered by data showing strong-than-expected Chinese Q2 GDP growth. The BSE Sensex was up 122.05 points or 0.66% to 18,533.67. The market breadth was strong. Index heavyweight Reliance Industries (RIL) was firm. IT bellwether Infosys slipped marginally, extending Tuesday's near 5% slide triggered disappointing Q1 June 2011 results.
At 09:29 IST, the BSE Sensex was up 122.05 points or 0.66% to 18,533.67. The Sensex gained 145.72 points at the day's high of 18,557.34 in early trade. The index rose 53.78 points at the day's
low of 18,465.40 in early trade.