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Indian markets rallies with midcap and smallcap stocks taking lead

December 5th, 2007

Bulls are back into action on the Indian stock markets as the Midcap and Smallcap stocks took the lead and largecap closely following them. The first 50 minutes of trade saw an up and down but the chart is more like marching upwards since then. Almost all sectoral indices reported good buzz except for IT stocks which again failed to cheer up.

The Nifty Midcap and Bank Nifty are the biggest index gainers - both the indices are up 2.47% and 2.29% respectively. The top largecap gainers of the day are GAIL, HPCL, ONGC, Tata Motors, SBI, Cipla, Hindalco, NTPC, BPCL and Sun Pharama. VSNL, Tata Steel, Infosys, Reliance Energy, Grasim, Hindustan Unilever, Satyam, Hero Honda and ABB closed in the red.

Banking stocks surely took the biggest attention. Even midcap banking stocks too began buzzing a lot. Syndicate Bank, Vijaya Bank, IOB, Canara Bank, Union Bank and Bank of Baroda are all up over 5%

Bongaigaon Refineries, Tech Mahindra, Chennai Petro, Ashok Leyland, Axis Bank, Ultratech Cement are few stocks that closed in the red.

Entry Filed under: Equity Markets, Closing Bell