03:30pm Market closing
After hitting record highs, the market turned flat to ends with some gains.
The Sensex closed up 120.11 points at 28562.82, and the Nifty was up 26.75
points at 8564.40. About 1489 shares advanced, 1459 shares declined, and 124
shares were unchanged.
ITC was star of the day, with a hefty gain of 6 percent at close. Other
gainers in the Sensex include Sesa Sterlite, Cipla, HUL and HDFC Bank.
Among the top losers were Bharti Airtel, Hindalco, Tata Power and BHEL.
03:15pm Shipping stocks in focus
Shipping stocks see huge buying interest on hopes of relaxations in rules
for the sector. Bharati Shipyard rallied nearly 14 percent followed by ABG
Shipyard, Varun Shipping, SCI, Shreyas Shipping and Pipavav Defence
with 4-5 percent gains.
The government today asked Reserve Bank of India to relax rules to revive
the shipbuilding industry. The government also asked RBI and finance ministry
to sanction special dispensation for 5 years.
Meanwhile, for the revival of the industry, the government on Monday
also launched the PM JalMargYojna and projects for setting up dry and satellite
ports, besides converting riverways into waterways.
03:00pm Market Update
The market gained strength in late trade with the Sensex rising 154.78
points to 28597.49 and the Nifty climbing 34.10 points to 8571.75 led by
banking & financials and FMCG stocks.
ITC stayed strong with 5.3 percent gains as report suggests that the
government is unlikely to ban sale of loose cigarettes in near-term. Sesa
Sterlite extended gains, up 3.4 percent followed by Cipla with 2.7 percent
upside.
Shares of HDFC, HDFC Bank, ICICI Bank, State Bank of India and Axis Bank
advanced 0.7-0.9 percent whereas Infosys, L&T and Reliance Industries were
marginally under pressure.
02:45pm ONGC in News
Oil and Natural Gas Corp (ONGC), India's biggest explorer, will next week
sign a deal to acquire stake in two Siberian oilfields, including the strategic
Vankor, during Russian President Vladimir Putin's visit to India.
ONGC Videsh, the overseas arm of state explorer, will sign a memorandum of
understanding (MoU) for acquiring the stake in Vankor and
Yurubcheno-Tokhomskoye fields, government officials said.
The MoU is part of Putin's energy engagement as he seeks to expand trade
links with Asian nations to counter sanctions from the US and its allies. More
information please visit this site www.bigprofitbuzz.com
No comments:
Post a Comment