Sensex holds above 17k, Nifty slips

The markets continue to trade firm in noon deals with the benchmark index hovering at 17,039 levels.

In the broader markets, the Nifty hit a new high of 5,015 levels in opening moves. Profit booking at higher levels caused it to slip to 4,974 levels in noon deals. It has taken the Nifty 205 trading sessions to cover the last 1,000 points.

During the journey from 4,000 to 5,000 levels, Foreign Institutional Investors (FIIs) pumped in $10.75 billion and Mutual Funds (MFs) invested $1.26 billion.

"The Nifty faces strong resistance at 5,200 levels. The one sided move that has taken place, now needs a correction. I expect that to happen soon," said Amarjeet Singh, Senior VP, Mangal Keshav Securities.

Leading the charge at the Sensex is Reliance Energy. The counter moved up 7.8 per cent or Rs 80. Infosys Technologies, ACC, ONGC, Satyam Computer, Mahindra & Mahindra, Tata Steel and TCS are also trading in the green.

However, Hundustan Unilever at Rs 223 levels skidded over a per cent. Grasim, ICICI Bank, Ambuja Cements, HDFC and Bajaj Auto are some of the other key losers.

Among the NSE 50 counters, Sterlite Industries, Cipla, VSNL, Zee Entertainment, GAIL India, HCL Technologies, Sun Pharma, ITC Limited and MTNL logged smart gains.

Metals hot

Among sectoral indices, the BSE IT index is the top gainer that moved up 2.8 per cent or 127 points in noon deals.

"The IT sector has been a laggard on account of rupee-dollar equation. However, it should be back in flavour once companies start to announce Q2 results," said Saurabh Mittal, MD, Swadeshi Credit Share Brokers.

Key gainers include I-Flex Solutions, Infosys Technologies, Satyam Computer, Patni Computer, TCS, Mphasis and Tech Mahindra.

ACC, Shree Cements, Saurashtra Cement, Dalmia Cement, Prism Cement, India Cements, Birla Corp and Mangalam Cement are holding firm in the cement space.

Sterlite Industries (up 6.7 per cent), Sesa Goa (up 5.9 per cent), Hindustan Zinc (up 2.9 per cent), Jindal Saw (up 2.5 per cent), Maharashtra Seamless (up 2.1 per cent), Hindalco (up 2 per cent) and Tata Steel (up 1.9 per cent) gained ground in the metal pack.


Among the NSE 50 counters, Sterlite Industries, Cipla, VSNL, Zee Entertainment, GAIL India, HCL Technologies, Sun Pharma, ITC Limited and MTNL logged smart gains.

Metals hot

Among sectoral indices, the BSE IT index is the top gainer that moved up 2.8 per cent or 127 points in noon deals.

"The IT sector has been a laggard on account of rupee-dollar equation. However, it should be back in flavour once companies start to announce Q2 results," said Saurabh Mittal, MD, Swadeshi Credit Share Brokers.

Key gainers include I-Flex Solutions, Infosys Technologies, Satyam Computer, Patni Computer, TCS, Mphasis and Tech Mahindra.

ACC, Shree Cements, Saurashtra Cement, Dalmia Cement, Prism Cement, India Cements, Birla Corp and Mangalam Cement are holding firm in the cement space.

Sterlite Industries (up 6.7 per cent), Sesa Goa (up 5.9 per cent), Hindustan Zinc (up 2.9 per cent), Jindal Saw (up 2.5 per cent), Maharashtra Seamless (up 2.1 per cent), Hindalco (up 2 per cent) and Tata Steel (up 1.9 per cent) gained ground in the metal pack.


Among the NSE 50 counters, Sterlite Industries, Cipla, VSNL, Zee Entertainment, GAIL India, HCL Technologies, Sun Pharma, ITC Limited and MTNL logged smart gains.

Metals hot

Among sectoral indices, the BSE IT index is the top gainer that moved up 2.8 per cent or 127 points in noon deals.

"The IT sector has been a laggard on account of rupee-dollar equation. However, it should be back in flavour once companies start to announce Q2 results," said Saurabh Mittal, MD, Swadeshi Credit Share Brokers.

Key gainers include I-Flex Solutions, Infosys Technologies, Satyam Computer, Patni Computer, TCS, Mphasis and Tech Mahindra.

ACC, Shree Cements, Saurashtra Cement, Dalmia Cement, Prism Cement, India Cements, Birla Corp and Mangalam Cement are holding firm in the cement space.

Sterlite Industries (up 6.7 per cent), Sesa Goa (up 5.9 per cent), Hindustan Zinc (up 2.9 per cent), Jindal Saw (up 2.5 per cent), Maharashtra Seamless (up 2.1 per cent), Hindalco (up 2 per cent) and Tata Steel (up 1.9 per cent) gained ground in the metal pack.

Source: www.ndtvprofit.com