labels: stock markets - india, union budget 2006, markets - general
01 March 1.10 AM: Indices at new highs; Cement, engineering and auto stocks surgenews
01 March 2006

Markets have built on their early gains and both frontline indices have set new lifetime intra-day highs. Sectors like engineering, cement and autos which were in the limelight yesterday continue to attract heavy buying interest. Most of the frontline stocks in these sectors are trading with significant gains.

The Sensex is trading higher by 104 points at 10474 at 01.10 PM.

The Nifty is trading higher by 20 points at 3095.

ACC continues to be the best performer among index stocks and has gained further from its early highs. The stock is now trading more than 5 per cent higher. Grasim has added close to 4 per cent while Gujarat Ambuja has gained close to 3 per cent.

BHEL is the star among engineering stocks, trading nearly 5 per cent higher. L&T has gained over 2 per cent.

Among auto stocks, Maruti is the best performer with more than 4.5 per cent gain. Tata Motors is close behind with over 3 per cent gain.

Aluminium stocks have made a come back after yesterday's losses and a weak opening today. Hindalco has added close to 3 per cent while Nalco has gained over 2.5 per cent.

Bharti, Tata Power, and Bajaj Auto are the other major gainers among index stocks.

OBC is the biggest loser among index stocks, trading over 2 per cent lower.

Zee Tele has recovered part of the early losses and is trading 2 per cent lower.

HDFC and ONGC are two heavyweights who have lost further ground in early afternoon trades. Both stocks are trading with losses of 1.5 per cent each.

Nalco is continuing the weak trend from yesterday and has lost another 2 per cent.

IPCL, Reliance Energy, Gail and Tata Tea are the other major losers among index stocks.

Mid-caps have also gained further from a strong opening. Though market breadth has not improved much, many individual stocks have gained substantial ground.

Sadbhav Engineering, which got listed on the exchanges today, has gained further from a strong opening. The stock is now trading at Rs273.

Tea plantation stocks like Harrison Malayalam, Jayshree Tea and McLeod Russel are locked in the upper price circuits.

Smaller cement stocks like Kesoram Industries and Shree Cement are trading with substantial gains.

Sintex, OCL and Zodiac JRD are among the major gainers in mid-caps.

Jindal Photofilms, Indo Rama and Rain Calcining are among the mid-cap losers.


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01 March 1.10 AM: Indices at new highs; Cement, engineering and auto stocks surge