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Market Update : 
India Closes at Historic High
Author: Elena Todorova
123jump.com
Last Update: 10:42 AM EDT May 08 2006

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Asian stocks were on the rise on a report from the U.S. Labor Department that proved to be slower than expected. The Sensex held positive territory all through the session. Reliance Industries soared, as well as HDFC. Cement stocks gained in the late trading on a greater interest from buyers and on stable product prices. Automotive stocks gained too.

 
Decliners
Open Text stock declined 19% due to missed analyst estimate for a quarterly earnings profits and weaker-than-expected sales.
Electronic Arts was also down by 11%, following the release of its disheartening guidance.
McData sank 4% in the wake of its announcement that the first-quarter profit and revenue would just meet forecasts.
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