Advancers
NTPC led the advance. The company jumped 5.5% to Rs 137.85, while Reliance Energy rose 2.9% to Rs 536. Infosys rose 1.2% to Rs 2,165.30. The stock had advanced after shareholders recently approved the proposal for a sponsored ADR issue.
Cellular services large-cap Bharti Airtel rose 4.6% to Rs 569.10. Bharti Airtel said on Monday it was talking to Microsoft, to offer software and other services to small and medium scale businesses in India.
Reliance Communications rose 3% to Rs 403.50. The stock also hit Rs 404.40, a record high duriing the trading. RCL and state-run BSNL, have entered into an agreement enabling subscribers to access 1-800 numbers or toll free numbers provided by either operator.
Housing finance large-cap HDFC jumped 4.6% to Rs 1,565. Zee Telefilms rose 3% to Rs 341, after it bought 50% stake in Dubai-based Ten Sports TV channel. Tata Motors gained 2% to Rs 835. HDFC Bank rose 1% to Rs 1,055, and ICICI Bank gained nearly 1% to Rs 840.
Index heavy, Reliance Industries, failed to capitalise on the rally today. The stock was flat at Rs 1,287.15, and traded within a narrow range.
Jaiprakash Associates jumped 5% to Rs 671, extending its recent advance after a court order which paved the way for the land development projects of the company.
Forbes Gokak jumped 20% to Rs 565.50, after the company said it had constituted a committee of directors to examine possibilities of restructuring.
Decliners
The large-cap decliners were Hero Honda which declined 1.52% to Rs 714.50, Tata Steel fell 1.19% to Rs 496.55, Hindalco sank 1.03% to Rs 182.05, ONGC fell 0.79% to Rs 872 and Ranbaxy fell 0.30% to Rs 397.
Other news
After its acquisition of 50% stake in Ten Sports, Zee Group has said there could be a possibility of merger of the Dubai-based channel with its sports channel, Zee Sports, in future.
9: 45AM Stocks opened mixed on cautious trading ahead of key data release.
Stocks opened mixed Monday on cautious trading ahead of retail sales and inflation data later in the week. On Tuesday the Labor Department releases its Producer Price Index and the Commerce Department issues retail sales data. Both are expected to give investors a better reading on the economy, inflation and consumer spending.
Intel (
INTC: chart) was an early gainer, up 1.1%, lifted by an upgrade for the chip sector from Citigroup. SanDisk (
SNDK: chart) fell 2.2% after UBS downgraded the company to neutral from buy. Tyson Foods (
TSN: chart) reported a Q4 loss vs. a year-earlier profit. Revenue fell from a year ago, but matched forecasts. The stock rose 2.2% in early trading. ISIS Pharmaceuticals (
ISIS: chart) was a notable gainer, up 29% after the drug maker said data from two Phase II trials showed its drug, ISIS 301012, reduces LDL, or bad, cholesterol.
KB Home (
KBH: chart), homebuilder, rose 3% on news its longtime CEO, resigned under pressure on Sunday, agreeing to return $13 million in profit from backdated stock options. The review revealed that company had misreported several unspecified grant dates for options issued between 1998 and 2005. KB Home expects to take a charge to its earnings of no more than $50 million, but may be forced to cover tax obligations related to the improper grants.
Significant weakness was visible in the gold sector, due to lower price of the precious metal. While a decrease by the price of oil contributed to some weakness among energy stocks, the oil-sensitive airline sector benefited from the price decrease. In the first hour of trading, the Dow Jones industrial average fell 19.69, or 0.16%, to 12,088.74. The Standard & Poor's 500 index was down 1.38, or 0.10%, at 1,379.52, and the Nasdaq composite index dropped 1.32, or 0.06%, at 2,388.40.
9:30AM FTSE 100 advances on Monday on merger and acquisition talks.
In late morning, the
FTSE 100 in London gained 7.6 points, or 0.1%, at 6,216.3.
Advancers
Resolution, the closed life assurance fund consolidator, was a leading gainer, up 3.9%. Talk in the market was of a possible merger with life assurer Prudential, up 2.4%, while others suggested Resolution could tie-up with Scottish Widows, the life assurance arm of Lloyds TSB, up 0.8 %.
