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Wednesday, 26 November 2014

Market closes marginally up; DLF gains 7%, Zee Ent off 4.1%

3:30 pm: Key indices closed with a 0.15 percent gain, with DLF (up 7.1 percent) and Zee Entertainment (down 4.1 percent) being the biggest movers among the top 100 stocks.

Apart from realty, which got a shot in the arm following a Delhi government decision to boost developable area, metal stocks were among the gainers with a 1 percent rise.

IT and pharma shares, however, exhibited weakness with a 0.25 percent fall on average.

3:00 pm: Indian stocks gave up most gains they had notched up in afternoon trade to trade marginally higher as they headed into the last hour of trade.

At the time of writing, both the Sensex and Nifty were up 30 and 9 points respectively (0.1 percent), receding off earlier highs.

The climb down came as investors chose to sell shares in consumer non-durables, IT and pharma. While providing strength to the index are property shares (the BSE Realty index was up 4.1 percent) with leader leader DLF surging 8 percent following a Delhi government decision to increase the city’s floor area ratio by 200 percent.

While high-beta capital goods, metals, and oil & gas shares rose 0.4 percent to 0.8 percent.

Top gainers on the Sensex are GAIL, Hindalco and Sesa Sterlite, rising 2.2 percent to 2.8 percent while losers are Bharti Airtel and ICICI Bank, down 2.4 percent and 1.3 percent.

The market breadth, however, is holding up with advances (1676) outpacing declines (1171). More information please visit this site

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