Broader Markets Up

A benchmark index for Indian equities markets slipped from intra-day highs Wednesday, while broader indices held on to gains after IT stocks rose buoyed by software giant HCL technologies which posted better than expected quarterly results. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,274.21 points, was ruling at 19,198.92 points, up 73.71 points or 0.39 percent from its previous close at 19,121.83 points. The 50-scrip S&P CNX Nifty of the National Stock Exchange was trading 0.37 percent higher at 5,761.9 points. Broader markets were ruling in the green as well with the BSE midcap index up 0.55 percent and the BSE small cap index up 0.86 percent. IT, consumer durables, and auto stocks were among major gainers, while capital goods scrips saw some selling. HCL Technologies reported a 34 percent rise in profit for the quarter ended March 31. Among major gainers on the Sensex were M&M, TCS, Tata Motors and ONGC, while the losers included Reliance Communications, Hero Honda, Reliance Infra and L&T. The market breadth was positive with 1,758 stocks advancing, 1,004 on the decline and 93 remaining unchanged. Asian markets were trading in the positive, tracking overnight gains at Wall Street. The Japanese Nikkei average closed 1.76 percent up at 9,606.82 points, while the Shanghai composite index of the Chinese stock exchanges moved up 0.27 percent at 3,007.04 points. The Hang Seng of the Hong Kong stock exchange was in the green too, trading 1.41 percent higher at 23,851.11 points.