Markets Looking Strong; IT, Real Estate and Banking Stocks gain

Stock Markets are looking strong today. NSE Nifty touched an intraday high of 4984 and an intraday low of 4889. BSE Sensex was up by 272 points at 16,516.

Orchid Chemicals has corrected from day’s high. The company declined any plans of Ranbaxy to pick up more stake at current levels. While sources have informed that Ranbaxy has decided a final price for the bid to buy more stake in Orchid Chemicals. The stock touched an intraday high of Rs 343.35 on NSE and is trading 4.6% lower at Rs 305 at 2.20 pm IST.

Ranbaxy Labs was trading marginally lower at Rs 480. Reliance Industries was trading with marginal loss at Rs 2635. The stock touched an intraday high of Rs 2718 and a low of Rs 2620.

Among major gainers were IT Stocks followed by Real Estate and Banking counters. Infosys Technologies was trading 4.11% higher in the afternoon session. Satyam Computers was trading strong with a gain of more than 3%. Wipro and HCL Tech were also trading strong.

DLF and Omaxe were trading higher as buying continued in select real estate counters. US markets closed with decent gains yesterday and Asian markets were trading higher as well.

DLF is looking good for intraday trading in today’s session. If the
stock crosses 642, traders can consider taking a position for a target
of Rs 660.

Indian Stock markets may close the day with decent gains for today’s session. NSE Nifty was trading almost 1.5% higher at 2.24 p.m. IST.

Tagged with