Mumbai Stocks opened on Monday extending gains

MUMBAI: Stocks opened sharply higher on Monday extending gains from the previous session. Shares of Tata Consultancy Services surged more than 10 per cent after the IT major beat street forecast with a 22 percent rise in quarterly profit. Bombay Stock Exchange’s Sensex was at 14950, higher by 207 points while National Stock Exchange’s Nifty rose 61 points to 4435.

“The week is set to begin on a positive note. The confidence comes from the fact that more than 3.2 crore shares have been added in the stock futures. This is the highest single day addition in the month of July. Some of the stocks that we like are Jaiprakash Associates, FSL and Rolta. Among the banks, our interest revolves around 'Axis'. Traders should keep an eye on international developments, where a $3 billion helpline is likely to be thrown at CIT, the beleaguered US bank. If this fails to materialise, it could jolt the traders,” said Anagram Stock Broking. US stocks closed out their best week in four months on Friday on a flat note as strong earnings from IBM offset disappointing results from General Electric Co. The Dow Jones Industrial Average gained 32.12 points, or 0.37 percent, to 8,743.94. But the Standard & Poor's 500 Index slipped 0.36 points, or 0.04 per cent, to 940.38. And the Nasdaq Composite Index added 1.58 points, or 0.08 per cent, to 1,886.61.


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