Market Updates
Sensex Edges Higher in Mid-Afternoon
Ivaylo
07 Jun, 2007
New York City
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The benchmark index saw a highly volatile trading Thursday with IT large-caps rallying in late session on a weaker rupee, with Satyam and Wipro leading stocks higher. Cement stocks plunged with ACC and Grasim the worst performers in the sector. Hindalco gyrated between positive and negative zone, but is currently up, while Reliance Comms is firmly higher. Reliance Industries is down. The market-breadth is strongly negative with three decliners for every two advancers.
[R]5:30AM NY-4:30PM Mumbai Sensex is slightly higher in mid-afternoon trade Thursday.[/R]
The Sensex on BSE is up 2.36 points to 14,256.79 in mid-afternoon trading on Thursday.
Advancers
IT large-caps are firmly in positive territory on a weaker rupee against the dollar. Satyam has surged 3.6% to Rs 482, and Wipro has rallied 3% to Rs 548. Infosys and TCS are higher around 1% each at Rs 1,961 and Rs 1,210, respectively. Reliance Communications and Hindalco have advanced 1.5% each to Rs 524 and Rs 151, respectively.
Decliners
Hero Honda led the decliners in the Sensex stocks, down 2.49% to Rs 696. Index heavy Reliance Industries shed 0.36% to Rs 1,681. State Bank of India lost 1.24% to Rs 1,371 and ONGC dipped 0.69% to Rs 858. Larsen & Toubro declined 0.56% to Rs 1,912, despite the fact it secured a contract in United Arab Emirates.
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