Nifty Bounce Back

Indian equity benchmarks bounced back on Monday morning after a sharp sell-off seen on Friday due to poor guidance forecasted by Infosys. The Nifty has touched the 5850 level amid volatility. There was a bit of short covering too in trade today.

At 9:19 hours IST, the 30-share BSE Sensex was trading at 19,428, up 41 points and the 50-share NSE Nifty gained 10 points at 5,835. The Nifty April futures were trading at 12 points premium.

Among frontliners, TCS, SBI, ONGC, Hero Honda, L&T, Sterlite, HDFC Bank, Wipro, HDFC, Bharti, Tata Motors, HUL and Hindalco were leading the markets higher.

Asia Mixed Trading

At 7: 47 am (IST), Asian markets were trading mixed. China's Shanghai Composite was up 0.23% or 7.03 points at 3,057.56. Hong Kong's Hang Seng was flat at 24,017.33. Japan's Nikkei was down 0.23% or 22.32 points at 9,569.20. Singapore's Straits Times added 0.45% or 14.31 points at 3,167.61. South Korea's Seoul Composite was flat at 2,142.73. Taiwan's Taiwan Weighted rose 0.42% or 36.56 points at 8,754.68.

Gold at all-time high of Rs 21,710

Both silver and gold set new records on the bullion market today on hectic buying by stockists for the upcoming marriage season amid firm global cues.

While silver spurted by Rs 2,700 to a new high of Rs 63,200 per kg, gold gained Rs 280 to touch an all-time high of Rs 21,710 per 10 grams.

Trading sentiment turned extremely bullish as gold and silver soared to a record levels in 31 years in global markets as inflation in China accelerated underscoring the challenge that central bankers worldwide face in combating rising prices. Read more

Sensex gains 434 points ahead of Infosys Q4 numbers

It was a spectacular pullback rally for the Indian equity benchmarks on Wednesday, recouped entire losses shed in previous four sessions as well as today's initial sell-off. For more

IT Index Down by 5%

The equity benchmark indices were bleeding in red on poor guidance from IT bellwether Infosys for FY12. BSE IT index was down 5%. Power, capital goods, oil & gas, realty and metals were down 1% each.

At 09.36 hrs IST, the Sensex was down 184.02 points or 0.93% at 19512.84, and the Nifty was down 59.65 points or 1.01% at 5851.85. About 848 shares advanced, 954 shares declined, and 1828 shares remain unchanged.

Hero Honda, Hindalco, Bharti Airtel, HDFC and ITC were up 0.2-2%. On the losing side, Infosys was down close to 7%. Wipro was down 4%. TCS, ONGC and NTPC shed 1-2%. Read more>>