Equities opened higher Tuesday spurring benchmark indices to all time highs. At 10:05 the Bombay Stock Exchange’s Sensex was up 222 points or 1.07 per cent at 21,034.36, making an all time high of 21,077.53.
"The weekly and monthly trend on the Sensex remains bullish. Since the past 11 days, from its bottom of 18,886, the index has seen intraday volatility, but has been moving higher. It faces resistance in the vicinity of 21,000-21,500. Traders are advised to stick to a strict stop-loss at 20,293," said Birendrakumar Singh, technical analyst at Religare Securities.
The National Stock Exchange’s Nifty was up 68 points or 1.09 per cent at 6347.25, near its fresh all-time high of 6351.45. Biggest contributors to the rally were Hindustan Unilever (up 2.78%), Reliance Petroleum (2.75%), Reliance Communications (2.52%), HDFC Bank (2.51%), Bharti Airtel (2.46%) and Satyam Computer (2.44%). Hindalco Industries (down 0.92%), ICICI Bank (0.86%), Grasim Industries (0.23%) and ACC (0.08%) were the laggards.
Stocks were mixed in the rest of Asia, with the Nikkei was down 0.32 per cent, while the Hang Seng and Straits Times were 0.88 per cent and 0.32 per cent higher, respectively.
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