The Bombay Stock Exchange (BSE) has halted trading for 150 minutes from 12 noon to 2.30 pm due to technical glitches. However, the Nifty continued its trading.

As per BSE website, “Due to technical problem faced by members in trade confirmation, it has been decided to close the market till 2.30 PM today. All pending orders would be cancelled and returned.”

At 12:05 hours IST – the 30-share BSE Sensex gained more strength and added more than 300 points on the back of buying in heavyweights as well as across sectors. Reliance Industries came off day’s high and was trading 0.5% higher, despite that the markets looked strong.

Financial was the leading sector; ICICI Bank was the biggest gainer with 6.3% gain post stellar performance in Q2FY11 results on Friday (the stock had jumped 6.5% on Friday). HDFC Bank rallied 2.8% and HDFC rose 1.9%. Axis Bank went up 2% followed by SBI, Kotak Mahindra Bank, IDFC and PNB, which gained 1-1.4%.

Infosys was also leading the markets with 1.9% gains. In technology pack, TCS and Wipro moved up 1% each while HCL Tech declined 0.76%. Bharti Airtel from telecom space jumped 2% and Reliance Communications was up 0.7%.

Heavyweights ONGC and L&T climbed 1.5% each. BHEL went up nearly 0.8%. ITC and HUL from FMCG segment were up 0.8-1%. DLF from realty space was up 2%. However, Hero Honda and Maruti Suzuki declined 1.9% & 2.55%, respectively post their quarterly numbers.

The Sensex was trading at 20368, up 336 points and the Nifty was at 6114, up 97 points. The Nifty November futures were trading at 35 points premium. The broader indices were also strong; went up 1.2% each.

Asian markets were quite supportive; Shanghai and Hang Seng jumped 2% each, which were outperforming other markets. Straits Times, Kospi and Taiwan were up 1-1.7%.

Bajaj Holdings, ICICI Bank, Reliance Industries, BS TransComm, Tata Steel and Orchid Chemical were the most active shares on exchanges.

In midcap space, Shree Ashtavinayak, TVS Motor, Petronet LNG, KS Oils and M&M Financial were up 4.8-6.7%.

However, Texmaco tanked 57.32% due to demerger of TREL. The company has fixed November 02, 2010 as the record date for the purpose of entitlement of 1 (one) equity share in TREL (Texmaco Rail & Engineering Ltd.) of Re. 1/- each credited as fully paid up for every 1 (one) equity share Re 1/- each fully paid up held by members in the Company.

Bajaj Electrical, Jagran Prakashan, Simplex Infra and Puravankara Projects fell 2.7%.

In smallcap space, Goodricke Group rallied 17.76%. Atul, Lloyd Electric, MBL Infra and AK Capital gained 8-11.65% while Hitachi Home, Hawkins Cooker, Grindwell Norton, Well Pack Paper and Religare Tech slipped 5-10%.

About 2162 shares advanced while 1122 shares declined on BSE. Nearly 157 shares were unchanged

source: Moneycontrol

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