Nifty holds 5600 on opening; ONGC shoots up 4%

Nifty holds 5600 on opening; ONGC shoots up 4%-NSE

Date: 22.02.2012

The Sensex opened with 50 points gap up on Wednesday, while the Nifty stayed above the 5600 level, supported by auto, capital goods, FMCG and metals stocks. However, the fall in banks limited the upside.
The BSE benchmark was up 43.52 points at 18,472.13 and the NSE benchmark rose 8.35 points to 5,615.50.
Among front liners,  ONGC up 4% ahead of EGoM meeting on for divestment on February 24.
Sterlite Industries gained 2.65% after yesterday's sell-off.
Among others, SAIL, Tata Steel, BHEL, Reliance Power, Reliance Communications, Reliance Infrastructure, Coal India and PNB were supporting the market.
However, ACC, Ambuja Cements, Infosys, TCS, ICICI Bank and SBI were down about 0.5% in early trade.
The CNX Midcap Index rose 41 points to 8,021. About 3.5 shares advanced for every share rising on the National Stock Exchange.
In the second line shares, Indiabulls Power, Lanco Infratech, Suzlon Energy and Adani Power climbed 1-3%.
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