Sensex Surges 154.93 Pts; Nifty At 5728.60
Submitted by Gurpreet Singh on Tue, 03/29/2011 - 09:14
Indian stock markets remained strong today on the back of heavy buying action across the board.
All the sectoral indices were ruling in the positive terrain with real estate, IT and capital goods topping the sectoral gainers pack.
At 11:45 a. m., the 30-share index BSE Sensex remained up by 154.93 points to trade at 19098.07.
It also hit an intraday high of 19116.25 and an intraday low of 18944.82 thus far.
On the other hand, the broad-based Nifty climbed 41.5 points to trade at 5728.60 after hitting an intraday high of 5734.45 and an intraday low of 5680.70.
According to Nirmal Bang report, "Nifty has rallied almost 300 points and we might see profit booking taking place at higher levels. The 100 DMA at 5,757 might act as an immediate resistance and we need a very strong trigger to surpass this level. If Nifty holds 5,700 then 5,780/5,810 level can be seen in near term."
"The long term trend is positive and one can continue to hold long position with the stop loss of 5,550 on closing basis. Immediate support for Nifty future seen at 5,650 and resistance at 5780," the report added.
The BSE Midcap Index gained 0.36% and the BSE Smallcap Index remained up by 0.30%.
Amongst the sectoral indices, BSE Realty Index climbed 1.81%, BSE IT Index surged 1% and BSE Capital Goods Index soared 0.98%.
The major gainers list comprised RComm (3.80%), Hero Honda (2.80%), Bharti Airtel (2.59%), Tata Power (2.48%) and Larsen & Toubro (1.51%).
The losers' list consisted of JP Associates, which shed 0.91%, Tata Steel lost 0.48%, ITC decline 0.08% and ICICI Bank remained down by 0.01%.
