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Markets open with gains after positive news

September 19th, 2008

Friday, September 19, 2008 10:28:24 AM IST

The panic selling rally in the markets for the last two days seems to have cooled off a bit after the American and the Asian markets came back to the green. Nifty is up 2.88% at 4154.44 but is still below the anticipated 4200 mark

The statements from the ICICI Bank saying its exposure to Lehmans and soothing words from the Indian Finance Minister Chidambaram about the Indian banks have boosted the morale and the markets sentiments. Some amount of buying is evident in select stocks.

CNX IT is up 4.06% and Bank Nifty is up 2.04%. CNX 100 is up 2.81% and CNX 500 is up 2.55%

The Sensex is at 13721.82 up 406.22 or 3.05%. The Midcap and Smallcap index are up 2.10% and 1.93% each. IT, Realty, Power, Capital Goods, Consumer Durables are all up in the green.

HDFC, HCL Tech, Wipro are up over 5% each. Tata Communications, Satyam, TCS, HDFC Bank, Bharti Airtel, Nalco and Siemens are the other stocks in the green. Hero Honda, Reliance Communications and BPCL are in the red.

1 U.S. dollar = 46.3606 Indian Rupees
1 U.S. dollar = 104.7559 Japanese Yens
1 U.S. dollar = 0.6964 Euros
1 Ounce Gold = $846.30
1 Barrel Crude Oil = $97.98

Entry Filed under: Equity Markets, Opening trade