Sensex extend gains to 2% on day

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Sens*x extend gains to 2% on day

MUMBAI: Indian shares extended gains to 2 percent on Monday afternoon, recovering from the previous session's fall as world stocks gains on the Irish bailout.

At 2:47 p.m. (0917 GMT), the 30-share BSE index was up 2.01 percent at 19,979.40 points, with 28 components advancing.

The 50-share NSE index was up 2.1 percent at 6,014.95.

BSE Midcap Index was up 0.78 per cent and BSE Smallcap Index moved 1.04 per cent higher.

Amongst the sectoral indices, BSE Bankex moved 1.99 per cent higher, BSE IT Index rose 1.86 per cent and BSE FMCG Index was up 1.42 per cent.

IDFC (4.44%), Jaiprakash Associates (4.02%), Wipro (3.39%), HCL Tech (3.29%) and Ranbaxy Laboratories (3.04%) were the top Nifty gainers.

Power Grid (-2.50%), Sterlite Industries (-1.25%), Dr Reddy’s Laboratories (-1.22%) and NTPC (-0.35%) were amongst the top losers.
Market breadth was positive on the Nifty with 45 gainers against 5 declines.

European markets also moved higher in line with peers. FTSE 100 was up 0.82 per cent, CAC 40 gained 0.81 per cent and DAX moved 0.78 per cent higher. Source: ET

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Motilal oswal expect Shree Renuka Sugars to post robust RoE of 29.2% in SY11 due to the strong performance of the Brazilian entities and the leveraged nature of acquisitions of both the entities


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