Update 2
Sensex continues its upward trend
The 30 share-index is making inroads into the positive zone as sustained buying is being witnessed among the participants in frontline stocks. IT, telecom, pharma, banking, auto, engineering and cement sectors traded firm.The BSE Sensex is currently trading at 13,718.50, up 101.73 points (1.03 p.m).Out of the total 2473 stocks traded so far, 1413 advanced, 987 declined while 73 remained unchanged.
Leaders on the index include Reliance Energy, which advanced 3.50% to Rs 551.40, Wipro, which gained 2.55% to Rs 583.20 and Satyam, which buoyed up 2.37% to Rs 464. Reliance Comm, Bharti Airtel and L&T also gained.
Laggards on the BSE Sensex were HDFC, that declined 1.25% to Rs 1622, ITC, that went down 0.90% to Rs 182.20 and HLL, that slid 0.84% to Rs 246.45. HDFC Bank, Tata Steel and Infosys were among the other top losers.
Fund raising proposal lifts ICICI Bank
ICICI Bank rose for the second day in a row on reports the private sector bank is slated to raise large overseas funds to fund lending growth.The stock was up 1.2% to Rs 882. 2.3 lakh shares changed hands in the counter on BSE.
Bharti Airtel, Rel Comm rise on probable access to more frequencies
Bharti Airtel and Reliance Communications rose for the second successive day amid reports that the government will free up more frequencies for cellular telephony.
Bharti Airtel (BTL) scrip was up 2% to Rs 636.60 and Reliance Communications (RCL) was up 1.8% to Rs 423.50. Both had set news records today.
As per reports, the Department of Telecom (DoT) has decided to roll out the optical fibre cable project in phases, which will free a part of 45 Mhz of radio frequency being used by the armed forces presently. This will help cellular service providers, who are facing a severe spectrum crunch. Reports also suggest that third generation 3G mobile services can hit the market as early as mid-2007.
To Read MoreClick Here
The 30 share-index is making inroads into the positive zone as sustained buying is being witnessed among the participants in frontline stocks. IT, telecom, pharma, banking, auto, engineering and cement sectors traded firm.The BSE Sensex is currently trading at 13,718.50, up 101.73 points (1.03 p.m).Out of the total 2473 stocks traded so far, 1413 advanced, 987 declined while 73 remained unchanged.
Leaders on the index include Reliance Energy, which advanced 3.50% to Rs 551.40, Wipro, which gained 2.55% to Rs 583.20 and Satyam, which buoyed up 2.37% to Rs 464. Reliance Comm, Bharti Airtel and L&T also gained.
Laggards on the BSE Sensex were HDFC, that declined 1.25% to Rs 1622, ITC, that went down 0.90% to Rs 182.20 and HLL, that slid 0.84% to Rs 246.45. HDFC Bank, Tata Steel and Infosys were among the other top losers.
Fund raising proposal lifts ICICI Bank
ICICI Bank rose for the second day in a row on reports the private sector bank is slated to raise large overseas funds to fund lending growth.The stock was up 1.2% to Rs 882. 2.3 lakh shares changed hands in the counter on BSE.
Bharti Airtel, Rel Comm rise on probable access to more frequencies
Bharti Airtel and Reliance Communications rose for the second successive day amid reports that the government will free up more frequencies for cellular telephony.
Bharti Airtel (BTL) scrip was up 2% to Rs 636.60 and Reliance Communications (RCL) was up 1.8% to Rs 423.50. Both had set news records today.
As per reports, the Department of Telecom (DoT) has decided to roll out the optical fibre cable project in phases, which will free a part of 45 Mhz of radio frequency being used by the armed forces presently. This will help cellular service providers, who are facing a severe spectrum crunch. Reports also suggest that third generation 3G mobile services can hit the market as early as mid-2007.
To Read MoreClick Here
posted by SY at 1:33 PM
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