Noon: Sensex holds positive trade on firm global cues

Noon: Sensex holds positive trade on firm global cues
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First Published: Wed, Jan 28 2009. 12 46 PM IST
Updated: Wed, Jan 28 2009. 12 46 PM IST
New Delhi:The Bombay Stock Exchange benchmark Sensex is trading positive on Wednesday influenced by strong global counterparts.
Markets opened 110 points up, continuing its upward trend for the second straight day. Overnight gains in US markets and firming Asia boosted buying in the domestic index.
Auto segment was boosted the most after the UK government decided to provide financial aid to automakers, a decision that will benefit Tata Jaguar. FMCG, IT and oil and gas were other sectors advancing.
At 12:03pm, the 30-share BSE Sensex was up by 85.67 points at 9,089.75 while NSE Nifty surged by 26.65 points at 2,790.65 at the same time.
Domestic buying sentiment was also encouraged by third quarter profits posted by companies like SAIL and GlaxosmithKline. Saytam Computers continued its surge for the second day today after Larsen and Toubro’s decision to increase its stake to 12% in the fraud-hit company. Shares of Satyam are trading at Rs55.15, up 16.96%.
ONGC is leading the index rise by 3.74% at Rs644.25, along with Tata Motors by 3.67% at Rs145.45, Wipro Ltd by 3.58% at Rs234.25, Mahindra and Mahindra Ltd by 3.23% at Rs281, Grasim Industries Ltd by 2.90% at Rs1,214.75 and ICICI Bank Ltd by 2.49% at Rs390.85.
Most Asian markets remained closed even today on account of Lunar New Year. Meanwhile, Japan’s Nikkei edged 0.6% higher as Wall Street rallied and US stimulus plan was expanded.
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First Published: Wed, Jan 28 2009. 12 46 PM IST
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