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Markets firm after a gap-up start
October, 07th 2009

The Sensex is displaying firm trend after a gap-up opening and is now up 109 points at 17,067.

The NSE Nifty is up 34 points at 5,061.

Sterlite has surged 4.7% to Rs 809. Hindalco has gained 3% at Rs 129, and Tata Steel has added 2.7% to Rs 524.

BHEL has rallied over 3% to Rs 2,494. Jaiprakash Associates has moved up 2.8% to Rs 237.

HDFC Bank and Larsen & Toubro have advanced around 2% each to Rs 1,694 and Rs 1,716, repsectively.

Sun Pharma, DLF, Hero Honda and Reliance Infrastructure are the other prominent gainers.

IT stocks are witnessing selling pressure in the backdrop of a rising rupee. The Indian currency has firmed to a fresh 12-month high at 46.83/$. Infosys and TCS have declined around 3% each to Rs 2,244 and Rs 595, respectively.

Wipro has dropped 2.2% to Rs 586.

Maruti has slipped 1.4% to Rs 1,576.

The market breadth is fairly positive - out of 2,205 stocks traded so far, 1,608 have advanced, 539 have declined and the rest are unchanged.

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