01 April 2011

Bulls keep Nifty above 5800

Indian equity benchmarks were quiet in opening trade on the first day of financial year 2011-12, but they still maintained a positive trend. The Nifty was still holding the 5800 level amid that volatility. There was no major impact seen due to rise in Brent crude to USD 117 a barrel.

Infrastructure, FMCG and Anil Dhirubhai Ambani Group were leading the markets higher.

Among frontliners, Reliance Communications, Reliance Power, Reliance Infrastructure, Reliance Capital, Hero Honda, Bajaj Auto, L&T, Reliance Industries, HDFC, HDFC Bank, Kotak Mahindra Bank,

However, BPCL, Bharti Airtel, Tata Motors, SBI and PNB were witnessing selling pressure.

At 9:18 hours IST, the 50-share NSE Nifty was trading at 5,843, up 10 points and the 30-share BSE Sensex gained 59 points at 19,504.

About 578 shares advanced as against 313 shares declined on National Stock Exchange.

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