10 August 2011

Sensex holds on to early gains


It was green all over the screen today with bulls going full throttle across the globe. The pullback was powered by short covering. The 30-share BSESensex was trading at 17,154, up 296 points and the 50-share NSE Nifty jumped 93 points to 5,166.
Tata Motors was leading the largecap space, gaining 6% as it had beaten quite badly on fears of slowdown in US and Europe.
Among other laregcaps, top gainers like Hindalco, M&M, DLF, Infosys and SAIL surged 3.5-5%.
ONGC lost 1.5% on profit booking. Earlier the stock rallied, when the markets sharply corrected in previous five sessions, on hopes that subsidy sharing burden may come down post more than 20% fall in crude oil prices in last few sessions.
HUL, Bharti Airtel, Sun Pharma, BPCL and GAIL too were under pressure, with falling 0.5-1%.

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