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| Metal & IT push market higher |
| SI Reporter / Mumbai Sep 06, 2010, 12:08 IST |
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Continuing its good run, the Sensex is up 256 points at 18,477 and the Nifty has added 74 points at 5,554.The smallcap index is up 1.6% as compared to the miscap index and the benxhmark index at 1.3%.
On the sectoral indices, Metal index continues to lead. The top gainer in theis space is Hindalco, trading 3.5% higher at Rs 177 after announcing plans to spend around Rs 21,000 crore for capital expenditure. The company is planning to spend Rs 10,000 crore in 2010-11 and Rs 11,000-crore in 2011-12 on account of an ongoing expansion programme that should be commissioned between 2012 and 2014.Around 209,000 shares have changed hands on the counter so far. The other gainers in this space are Tata Steel up 3.6%, Sterlite up 3.4% and Jindal Saw up 2.4%.
The other major gainer on the sectoral index is IT. The major propellers here are Financial Technologies up 2%, Mphasis and Infosys gaining nearly 2%, TCS, Patni Computer adding 1% each.
Other than the metal scrips, the major gainers are ICICI Bank up 2%, index heavyweight RIL gaining nearly 2%, Tata Motors, Tata Power, SBI, DLF adding 1.4%- 1.8%.
On the Sensex only 3 components are trading in the red, Hero Hinda has fallen 1.5% to Rs 1710, Reliance Communication is also down 0.9% to Rs 162 and Bharti Airtel is trading flat at Rs 339
Market breadth is positive, for 2187 advancing stocks, 696 stocks are declining
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