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Noon: Sensex over 150 pts up, TCS still under pressure

Noon: Sensex over 150 pts up, TCS still under pressure
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First Published: Fri, Jan 16 2009. 12 41 PM IST
Updated: Fri, Jan 16 2009. 12 41 PM IST
New Delhi: Following firm Asian markets, the Bombay Stock Exchange benchmark Sensex continues trading positive on Friday.
On opening, Sensex rebounded by 1% from Thursday’s 300 pts down end. Fund buying was also boosted by slight Wall Street gains on news of $20 billion government bailout for Bank of America. News of three more directors on Satyam’s new board to plan out firm’s finances also brought relief to investors
Around noon markets gained from initial slip and the 30-share BSE index was up by 191.98 points at 9238.72 whereas 50-share NSE Nifty was higher by 61.70 points at 2798.40 at 12pm.
Oil and gas was leading in trade volumes among sectors, rising by 3.5%. Power, PSUs and capital goods were close behind.
Shares of Tata Consultancy Services were under pressure after the company announced lower-than-expected earnings in their third quarter on Thursday. TCS was trading 0.78% lower at Rs490.
Reliance Communications is leading the gainers pack by 5.22% to Rs183.35, along with NTPC Ltd by 4.94% to Rs175.25, Reliance Infrastructure by 4.32% at Rs526, Reliance Industries by 4.21% at Rs1,191.50 and Tata Power by 3.04% at Rs 759.75.
Meanwhile, the Asian Markets surged after bailout of $20 billion to BoA was announced. Japan’s Nikkei rose by 2.6% and Hong Kong’s Hang Seng was slightly high by 0.19%.
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First Published: Fri, Jan 16 2009. 12 41 PM IST
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