NSE Nifty gains 70 points; BSE Sensex up by 180 points at 1.30 pm

After a weak start, Indian stock markets recovered fast in the first thirty minutes of trading session. However, due to selling pressure at higher levels, the indices slipped into red again around 11.30 a.m.

The stocks started gaining around 1 p.m. again and NSE Nifty touched a new intraday high of 4573 at 1.30 p.m. compared to an earlier high of 4563 during the morning session. BSE Sensex was up by 185 points.

Among major gainers in today’s trading session were Satyam Computers, Wipro, Reliance Power, Dr. Reddy’s and Cipla. Ranbaxy Labs was up by 3.1% at Rs 454. The stock lost quite substantially in yesterday’s session.

ONGC, Tata Chemicals and Tata Tea were also trading with a gain of over 2%.

Banking Stocks were dragging the indices down. ICICI Bank, HDFC Bank and Axis Bank were among major losers in banking sector.

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