Markets rally on cheers of good Infosys results - April 13, 2007
The markets had a great day today - Thanks largely to Infosys for setting up the much awaited tone. India’s largest IT company Infosys announced its quarterly results today, which were positive. The Indian stock markets which are eagerly waiting for a correct course of direction took the news positive. The Sensex closed today at 13,384.08 and gained 270.27 points or 2.06%. Both Midcap and Smallcap indices closed positive and are above 1%. Its all ITs day today with BSE IT sectoral index gaining 3.9%. Auto, Bank and Capital goods sectoral indices added over 2% while Consumer durables, Metal, Oil and PSU stocks are up by over 1%. FMCG was the only sectoral index on BSE to have closed in the red.
A similar story can be seen on the Nifty too. CNX Nifty closed at 3917.35 adding 2.28% in the days trade. CNX IT is up 4.29% while ank Nifty is up by 2.82%
Todays major gainers on the BSE are Satyam Computers, Geometric Software, HCL Tech, Cummins India, Welsp Guj, Tata Elxsi, EIH Limited, CMC Limited, Container Corporation and Polaris Labs. IGate Global that was in the toppers charts for the past few days turned red as the stock closed 16.95 points down today. Other major losers on the Sensex today are Micro Inks, Gujarat Mineral Development, Apollo, National Fertilizers, Finolex India, ITC Limited, Hindustan Zinc, Cadila Health and JB Chem.
Nifty toppers start with IT companies.
Satyam and HCL Tech are up 7%. TCS and Wipro are up 5%. Suzlon is up 5%. SAIL and MTNL are up 4% M&M, Bajaj Auto and PNB are up 3%.
Nifty top losers include ITC, Ranbaxy, GAIL, HPCL, Dabur, National Aluminium, HLL, Reliance Energy and Hindalco.
Looking at the Banking stocks on the Nifty, all 12 stocks on Bank Nifty advanced. The list is topped by Corporation Bank, Bank of India, PNB, Bank of Baroda and OBC.
CNX IT has 18 stocks advancing and 2 stocks declining. The list had Satyam, HCL Tech, CMC, Tech Mahindra and Tata Elxsi topping the list while Mastek and GTL marginally closed in red.
Overall some piece of nice news from the Infosys folks and the market close the trading week for a happy weekend. How the markets will open on Monday is what we need to wait and see.
Add commentApril 13th, 2007