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Positive global cues push markets higher
Published on Fri, Jun 06, 2008 at 10:35, Updated on Fri, Jun 06, 2008 at 11:01 in 
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Mumbai: The markets have opened strong and continued Thursdays pull back rally even further after sell off in last few sessions but given some early trade gains. Global cues are positive and buying seen in technology, capital goods, power and some banking stocks. Midcap and small cap indices are positive.
At 0956 hrs IST, the Sensex was up 68 points at 15,838 and the Nifty up 30 points at 4706. Market breadth is positive, 413 shares advanced while 51 shares declined.
Amongst frontliners, BHEL, Cairn India, Rel Petro, HDFC, Tata Comm, Tata Motors, Siemens, Rel Infra, Suzlon, NTPC, Power Grid, Unitech, Sterlite Ind, M&M, GAIL and JP Asso have gained while Sun Pharma, ABB, Zee, ONGC and CIpla were losers.
Cairn India shot up four per cent at the company got oil, gas exploration licence in Sri Lanka. Nymex Crude again went up to $128 per barrel.
Suzlon Energy was up nearly two per cent as the company bought Areva’s 30 per cent stake in REpower.
Sun Pharma slipped over two per cent as the company expresses concern over Taro's decision to sell its Irish plant.
Asian markets were trading higher. Hang Seng was up 0.96 per cent or 231.78 points at 24,487.07. Nikkei 225 Average jumped 1.3 per cent or 188.38 points at 14,529.50. Jakarta Composite was up 0.92 per cent or 22 points at 2,421.72. Straits Times shot up 0.64 per cent or 20 points at 3,163.96. Taiwan Weighted rose 0.63 per cent or 55.10 points at 8,793.56.
In the US markets, stocks rallied on stronger-than-expected May sales by Wal-Mart and other retailers and a surprising fall in weekly jobless claims, spurring optimism about the economy's health. The Dow gained 213.97 points, or 1.73 per cent, to 12,604.45. The Standard & Poor's 500 index advanced 26.85 points, or 1.95 per cent, to 1,404.05, and the Nasdaq composite index surged 46.80 points, or 1.87 per cent, to 2,549.94.
Market cues:
- FIIs net sell $204.6 mn in equity on June 4
- MFs net buy Rs 185.3 cr in equity on June 4
- NSE F&O Open Interest up by Rs 2,197 crore at Rs 69,761 crore
F&O cues:
- Futures Open Int up by Rs 618 crore, Options Open Int up Rs 1,579 crore
- Nifty Futures shed 15 lakh shares in OI, at 2-point premium
- Nifty Open Interst Put-Call ratio at 1.64 Vs 1.59
- Nifty Puts add 20 lakh shares in Open Interest
- Nifty Calls add 7.3 lakh shares in Open Interest
- Nifty 4400 Put adds 11 lakh shares in Open Interest
- Nifty 4500 Put adds 4.9 lakh shares in Open Interest
- Nifty 4800 Put sheds 4.7 lakh shares in Open Interest
- Nifty 4800 Call adds 5 lakh shares in Open Interest
- Stock Futures Open Interest unchanged
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