Commodity stocks help Nifty top 5400
Thursday, 22 July 2010
The Indian markets are trading near the day's high. At 2.50 pm, the BSE Sensex was up 106 points to 17,985 and the NSE Nifty gained 33 points to top the 5,000 mark, reports NDTV Profit.
The markets opened higher trade but have been trading flat except for the occasional spurt. The markets hit the intraday high at noon but since then have come off the highs only to regain strength in the last half hour of trade.
Most sectoral indices were in the green and metals continued to lead the gains along with the oil and gas stocks. The metal index rose 2.99 per cent.
Metal stocks rose mirroring sentiments on the London Metal Exchange. Higher oil & copper prices have boosted commodity stocks. Copper rose the highest in 3 weeks and crude topped $77/bbl.
Sterlite Industries rose 4.3 per cent, Tata Steel gained 3.64 per cent, Jindal Steel advanced 2.75 per cent and Hindalco added 2.29 per cent.
The broader markets underperformed. The BSE small cap index rose 0.41 per cent and the CNX midcap gained 0.42 per cent. Overall, 53 per cent stocks advanced on the BSE indicating a positive breadth for the market.
The markets opened higher trade but have been trading flat except for the occasional spurt. The markets hit the intraday high at noon but since then have come off the highs only to regain strength in the last half hour of trade.
Most sectoral indices were in the green and metals continued to lead the gains along with the oil and gas stocks. The metal index rose 2.99 per cent.
Metal stocks rose mirroring sentiments on the London Metal Exchange. Higher oil & copper prices have boosted commodity stocks. Copper rose the highest in 3 weeks and crude topped $77/bbl.
Sterlite Industries rose 4.3 per cent, Tata Steel gained 3.64 per cent, Jindal Steel advanced 2.75 per cent and Hindalco added 2.29 per cent.
The broader markets underperformed. The BSE small cap index rose 0.41 per cent and the CNX midcap gained 0.42 per cent. Overall, 53 per cent stocks advanced on the BSE indicating a positive breadth for the market.