After opening higher, the market soon slipped

The key benchmark indices extended gains in afternoon trade today led by a rally in metal, capital goods and oil & gas stocks.
The BSE 30-share Sensex was up 194 points at 14,304 and the Nifty rose 57 points to 4,333.
The market was volatile as traders rolled over positions from May 2009 contracts to June 2009 contracts in the futures & options (F&O) segment ahead of expiry of May 2009 contracts today, 28 May 2009. After opening higher, the market soon slipped into the red before bouncing back.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1553 shares rose as compared with 972 that fell. A total of 55 shares remained unchanged.
The BSE Mid-Cap index was up 0.16% and the BSE Small-Cap index was up 0.75%. Both the indices underperformed the Sensex.
From the 30 share Sensex pack, 21 stocks rose and rest fell.
India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) rose 2.14% to Rs 2,234.10 on reports it has struck gas in two nearby blocks (D3 and D9), with estimates putting the natural gas reserves at 20 trillion cubic feet (tcf). But the stock came off the day's high of Rs 2,245. Hardy Oil & Gas Plc has 10% stake each in the two blocks where RIL is the operator with 90% interest
Analysts expect strong growth in RIL's bottom line in coming quarters from sale of gas which it started pumping last month from its deep-sea field off the east coast.
India's largest oil exploration firm by revenue Oil & Natural Gas Corp rose 0.46% extending yesterday's sharp surge triggered by a newspaper report that the government may double the price of natural gas. The government may double the administered price of natural gas to $4.2 per million British thermal units. The increase will benefit ONGC and Oil India which sell the fuel at prices fixed by the government, according to the report.

Further details : profit.ndtv.com/2009/05/28132400/Metals-capital-goods-lead-Sen.html