Nifty holds 100 pts gains; ICICI Bank, Tata Motors up 6%

Nifty gains 100 points prevents the benefits of large-driven sectors such as banking, metal, technology, oil and gas and the car, although there was some profit taking at higher levels. Quoted at 4937.95 index points to 106 16486.03 Sensex rose 363 points short covering.

But Vikas Khemani, vice president and head - institutional equities Edelweiss Securities says the rally may not be retained. "I think markets will see a big turning hereon. India, the problem is much more domestic, as the sole world-wide." He said important problems remain to be addressed.

Major largecaps like Reliance Industries, Infosys, HDFC, L & T, ITC, SBI, TCS, NTPC, and from 1.5 to 3%.

ICICI Bank, Tata Motors, Hindalco, Sterling, DLF and drive increased 5-7%. But Bharti, Hul, Dr Reddy Labs are, BHEL and BPCL fell 1.5-2%.

Interim payments and reduce the decline in the afternoon trade, especially after the opening of the markets. About 1700 shares advanced as compared BSE 1088 shares declined.European markets such as the German DAX and French CAC fell 0.006 each while the UK FTSE flat.At 0.594444444444444 hours IST: high profit booking Sensex off day, gains over 300 pts

The market erased about 0.5 of their accumulated profits of the morning due to profit booking. The Sensex was trading up only 312 points, compared to 594 by the morning. Index heavyweight Bharti Airtel extended its losses of 0.024 and BHEL turned negative. Even other largecaps fell victim to profit taking. Sensex quoted at 16435.86 and the Nifty was trading in 4920 to 88 points.

European markets like France and Britain CAC DAX fell 0.5%. European Central Bank head feels threatened by the economic outlook has increased. Yesterday, the central banks agreed to reduce the cost of temporary dollar loans they offer the banks, which could not rally further.

Back home, the BSE Metal Index rose 3.9% to 3.3% and Bankex. Realty, auto and oil & gas from 2 to 2.7%. IT, Capital Goods and Power indices rose by 1 to 1.7%.

In largecap space, ICICI Bank, Hindalco, Tata Motors, DLF, Sterling Industries and sail retained its top positions in the buy list, shooting up from 5.5 to 6%.

However, Bharti Airtel lost 2.4% and BHEL fell 1.59%. HUL and Maruti Suzuki fell 0.5%. BPCL and Dr Reddy Labs has dropped by 2% each.

The broader indices too slipped from the high days - BSE Midcap and Smallcap rose 1% to 0.9%. Of smaller ones by the dwindling 1753-954 BSE.

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