Friday, June 5, 2009

IT Stocks, Capital Goods Boosts Sensex

. Friday, June 5, 2009

By stockOzone team

Advances in IT and capital goods stocks helped Sensex extend its gains. The benchmark index is on course for its longest weekly winning streak since August 2000.

Higher global markets helped the Indian equities maintain the momentum. Global stock markets mostly advanced today, with resource companies gaining as oil prices broke above $69. Japan's benchmark rose to an eight-month high.

But many investors tread cautiously ahead of a key US jobs report that could bring more signs of recovery — or weakness — in the world's largest economy.

Back in the Indian markets, the Sensex was trading at 15,240, up 231 points, after recovering from the day’s low of 14,994. The Nifty was trading at 4,629, up 56 points.

The broader markets remained firm too, with 1853 stocks advancing and 946 stocks declining. The CNX midcap index was up nearly 1.5 per cent while the BSE smallcap index was 1.2 per cent higher.

Among the capital goods stocks, L&T and BHEL traded 3-5 per cent higher. In IT stocks, Infy was up 4.5 per cent. ITC, Rel Infra and SBI were a drag on the Sensex.

RIL, down 1.7 per cent after Supreme Court dismissed it plea on Mumbai SEZ, pulled down the BSE oil & gas index.

Disclosure: Author does not own any of the stocks discussed here.

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