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Tuesday, 4 November 2014

Sensex up over 100 pts, Nifty holds 8350; SBI, ITC gainers

9:40 am Market update: NSE rates are updating now. The Nifty is at 8350.50, up 26 points. The Sensex is up 101.89 points at 27962.27. Sun Pharma, Tata Power, BHEL, SBI and ITC are top gainers in the Sensex. Among the losers are Coal India, Tata Steel, Sesa Sterlite, Hero MotoCorp and Hindalco.

9:30 am Buzzing: Shares of Hexaware jumped 8 percent, touching 52-week high at Rs 213 per share intraday . Investors are hurriedly buying shares of the software firm as its third quarter earnings were strong. Hexaware has posted a net profit of Rs 86 crore in the quarter ended September, up 12.3 percent sequentially. In dollar terms, its revenue grew 7.9 percent quarter-on-quarter (up 11.4 percent on yearly basis) to USD 110 million.

The company has said Europe has led the geographic growth while BFSI and Emerging segments led growth among verticals. In rupee terms, the software service firm’s Q3 revenue jumped 9.9 percent Q-o-Q (up 8 percent Y-o-Y) to Rs 671 crore.

According to a CNBC-TV18 poll, Q3 net profit was expected at Rs 83 crore on a revenue of Rs 645 crore. Hexaware added 10 new clients added in Q3 2014.

OMCs in good spot, see crude at USD 70/bbl: HDFC Sec

The market has opened on a higher note. The Sensex is up 80.29 points at 27940.67. NSE rates not are updating. About 609 shares have advanced, 144 shares declined, and 37 shares are unchanged.

Tata Power, TCS, Sun Pharma, Sesa Sterlite, ICICI Bank are top gainers in the Sensex. Among the losers are Tata Motors, NTPC, Infosys, HUL and Maruti are among the losers.

The Indian rupee opened marginally lower at 61.35 per dollar on Wednesday against 61.40 on Monday.

The dollar nursed modest losses as investors decided to take some profits on a four-session rally that swept the greenback to multi-year highs against the yen and euro.

Himanshu Arora of Religare said, "USD-INR pair is expected to trade slightly higher today amid strength in dollar against basket of currencies and a fear of increasing risk in the market. Range for the rupee is seen between Rs 61.24-61.65/dollar."

Asian markets were trading lower on Wednesday. Sentiment in Asia was also under further pressure after the European Commission cut its growth forecasts for the euro zone on Tuesday. The body now forecasts growth of just 0.8 percent this year, down from the 1.2 percent forecast in May.

Brent crude prices slipped to USD 82 per barrel, touching its lowest point since October 2010. Top oil exporter Saudi Arabia cut prices to the United States but raised them to Asia and Europe.

From precious metals space, gold snapped its four-session losing streak, boosted by a drop in the dollar index and expectations of Asian physical demand following bullion's tumble to a four-year low. More Information Please visit this site

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