Sensex trades flat; banks, metal lead April 24, 2009
Posted by dhirendra1972 in Major Gainers, Overnight Gains, Straight Session, Upward Journey.Tags: Auto Sector Stocks, Banking Shares, Bombay Stock Eschange, Domestic markets, Earnings, Funds, Gains, High Trade, Metal Sector, National Stock Exchange, Quarter Earnings, Reginal Markets, Reliance Industries, Sensex, Session, Stock Brokers, Trade, Trading Sentiments, US Markets
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Good morning friends. There will be a good demand in banking shares after HDFC Bank after placing some earnings.
The Bombay Stock Exchange benchmark Sensex moved up by over 80 points in opening trade on Friday, extending its upward journey for the second straight session, on funds buying even as heavy-weight Reliance Industries reported a nine per cent drop in its fourth quarter earnings.
The Sensex, which had gained 2.94 per cent on Thursday, advanced further by 80.30 points, or 0.72 per cent, to trade higher at 11,215.29 points with banking, metal and auto sector stocks leading the rally.
The wide-based National Stock Exchange’s Nifty also rose by 21.85 points to 3,445.55.
Stock brokers said overnight gains on the US markets and mixed trend in regional markets in early trade today mainly buoyed the trading sentiments on the domestic markets.
Banking shares were in good demand after HDFC Bank posted encouraging Q4 earnings.
Major gainers in the banking sector were HDFC Bank, up by 1.14 per cent to Rs 1,105, ICICI Bank by 2.01 per cent to Rs 432.10 and State Bank of India by 1.60 per cent to Rs 1,286. –The Indian Express
