03:30 pm Market close
Bulls rampaged Dalal Street as market closed at record high
boosted by some heavyweights. The Sensex ended up 522.66 points or 1.8 percent
at 28784.67. The Nifty shut at 8695.60, up 144.90 points or 1.7 percent. About
1568 shares have advanced, 1406 shares declined, and 291 shares were unchanged.
03:15 pm FII view
Brokerage house Morgan sees six Asian economies facing a
‘3D’ challenge of worsening demographics, debt and deflation.
“The challenges imposed by weaker demographics, high debt
and deflationary pressures are most keenly felt in China, Hong Kong, Korea,
Singapore, Taiwan and Thailand,” said the Morgan Stanley report to clients.
“In contrast, India, the Philippines and Indonesia are not
facing challenges on this front,” the report said.
03:06 pm New high
again!
The Sensex also hit record touching 28829, up 549.70 points,
up 1.9 percent while the Nifty is up 150.15 points or 1.8 percent at 8700.85.
About 1552 shares have advanced, 1375 shares declined, and 293 shares are
unchanged.
HDFC is up 6 percent,
while Sesa Sterlite, Axis Bank, Tata Steel and Tata Motors are top
gainers in the Sensex. Among the losers are GAIL, Maruti, Hero, Tata Power and
TCS.
03:03 Record high
The Nifty is up 149.20 points or 1.7 percent at 8701, while
the Sensex is up 545.01 points or 1.9 percent at 28807.02. About 1534 shares
have advanced, 1380 shares declined, and 299 shares are unchanged.
02:50pm Nifty races
towards 8700
The 30-share BSE Sensex spiked 495.02 points or 1.75 percent
to 28757.03 and the 50-share NSE Nifty jumped 139.85 points or 1.64 percent to
8690.55.
HDFC topped the buying list on the Sensex, up 6.5 percent
followed by Sesa Sterlite and Tata Steel with 4.6 percent gains. ITC, SBI, HDFC
Bank, Reliance Industries, Tata Motors, Axis Bank and Hindalco rallied 2-3.6
percent.
About 1533 shares have advanced, 1366 shares declined, and
300 shares are unchanged on the Bombay Stock Exchange.
02:45pm Tata
Teleservices shares in demand
Norway-based Telenor is doing a due diligence of Tata
Teleservices to acquire a majority stake in the company, reports Kritika Saxena
quoting unnamed sources.
The sources said Telenor, which is into communications,
media and IT, may look to merge its Indian subsidiary with Tata Teleservices.
Telenor CEO Fredrik Baksaas is expected to come down to
India for negotiations, the sources said.
Telenor was unavailable for comment, and a Tata Sons
spokesperson said the company did not comment on such matters.
Last month, the RBI had allowed Tata Sons to buy out NTT
Docomo’s 26 percent in Tata Teleservices for USD 1.1 billion. The stock gained
7 percent.
02:30pm India looks
promising?
A sharp plunge in oil prices is likely to transfer USD 1.5
trillion of wealth to consumers, bringing the US back as global growth engine
while India is the most promising story among emerging markets, says a study.
India may outsmart China in terms of growth rate in a few years, global
analytics and information services major IHS said here on the first day of WEF
annual meeting. Overall, the BRICS gap has widened as developed economies are taking
the lead.
"With many of today's economic trends reminiscent of
the 1980s and 1990s, we are looking at a 'Back to the Future' scenario for the
global economy," IHS Chief Economist Nariman Behravesh said. "Once
again the US is a locomotive of global growth, the dollar is resurgent and US
oil production is set to be the highest in the world," he said at the
World Economic Forum in Davos, Switzerland. "Everyone right now is talking
about the impact of the oil price plunge," Behravesh said, reports PTI.
02:00pm Market Check
It is a crackling day on Dalal Street today as the frontline
indices gained more than a percent higher led by banking & financials and
metals stocks. Reliance Industries, ITC and Infosys too played supportive role.
The Sensex rallied 401.14 points or 1.42 percent to 28663.15
and the Nifty scored a century, up 111.70 points or 1.31 percent at 8662.40
while the broader markets lagged frontline indices, up half a percent.
About 1542 shares have advanced, 1306 shares declined, and
290 shares are unchanged on the Bombay Stock Exchange.
It’s a blue chip led rally today. HDFC contributed nearly 40
percent to the Nifty's gain, up 6 percent. Shares of ITC and Reliance
Industries gained 2.7 percent and 1.7 percent, respectively. State Bank of
India, ICICI Bank and HDFC Bank climbed 1 percent each while rival Axis Bank
jumped 3.4 percent. Tata Motors gained 1.7 percent.
Sesa Sterlite, Tata Steel and Hindalco Industries surged 3-4
percent whereas TCS, HUL, GAIL, Maruti Suzuki, Bajaj Auto and Hero Motocorp
fell 0.5-2 percent.
Nandan Chakraborty of Axis Capital says all eyes are on the
Budget. It's extremely important for the fiscal math to be credible in the
Budget, capex plays like EPC companies will give maximum delta, he adds.
Global markets are upbeat today. Asian markets like Japan
close with 350-point gain while Shanghai rallied almost 2 percent after
reporting Q4 GDP better-than-expected at 7.3 percent against forecast of 7.2
percent.
The rupee traded flat to marginally lower as the dollar
strengthened overseas. The rupee slipped from a two-month high , currently at
61.77 against a close of 61.71 yesterday. More information please visit this
site www.bigprofitbuzz.com
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