Update 1: Markets Flat!
The BSE Sensex stayed range-bound in the afternoon, after a bout of volatility earlier.
At 12:28 IST the Sensex was up 5.57 points, at 13,345.73. It had opened lower, and slipped to an intra-day low of 13,182.35 as selling continued. Here, the benchmark index found support, and struck an intra-day high of 13,361.30 by 11:07 IST.
The market-breadth was strong on BSE, as buying for small-cap and midcap stocks continued. Against 1,343 shares that advanced on BSE, 996 declined. As many as 89 remained unchanged. Gainers outpaced losers by a ratio of 1.3:1.
The total turnover on BSE amounted to Rs 2,066 crore.
Among the 30-Sensex pack, 17 decline while the rest advanced.
Reliance Communication was the top gainer, up 2.15% to Rs 457.15, on a volume of 9.42 lakh shares.
Reliance Energy (up 1.75% to Rs 523), Tata Motors (up 1.63% to Rs 849.55) and Bajaj Auto (up 0.71% to Rs 2,527) followed.
Index heavyweight Reliance Industries (RIL) gained 0.56% to Rs 1,255.65 on a volume of 3.16 lakh shares. Recently, RIL and its partner Niko Resources, discovered oil in the hydrocarbon rich Krishna-Godavari basin. The two have discovered a column of gas condensate of 170 m and 24 m of oil-bearing hydrocarbons. RIL has 90% stake in the block and Niko 10%.
State-run engineering firm Bharat Heavy Electricals (Bhel) rose 0.30% to Rs 2,285, after it bagged an order worth Rs 165 crore from Indian Oil Corporation for a power generation unit.
ONGC was the top loser, down 1.02% to Rs 850, on a volume of 1.08 lakh shares. Reports say, it has struck gas in Mahanandi, which may contain 3 - 4 trillion cubic feet natural gas.
Satyam Computers (down 0.96% to Rs 454) and L&T (down 0.78% to Rs 1397.90) were the other losers.
Telecom software firm Tech Mahindra jumped 20% to Rs 1,492.55, on high volumes of 19.93 lakh shares, with pending buy order of 47,309 shares on BSE. It has also signed a $ 1 billion contract with British Telecoms (BT), the validity of which is for over five years.
Power transmission equipment firm KEC International rose 3% to Rs 357, a day after it secured orders worth Rs 151 crore. Three of these are for setting up transmission lines in the United Arab Emirates, and one for transmission lines in Ghana, the company said in a statement.
Dishman Pharmaceuticals & Chemicals rose 3.30% to Rs 232.50, after it announced a joint venture in Saudi Arabia with Takamul Investments Holding Company (Takamul), a group company of Capital Advisory Group for manufacturing hospital disinfectant formulations, anti-cancer drug formulations and dry powder inhaler (DPI).
Asian markets were mostly subdued, as they took a breather after a strong rebound in the previous session.
US stocks edged lower on Wednesday in light trading as a disappointing outlook from FedEx Corp pulled down transport stocks and offset the positive influence of the latest round of proposed takeovers. The Dow Jones industrial average dipped 7.45 points, or 0.06%, to end at 12,463.87, while the Standard & Poor's 500 Index edged down 2.02 points, or 0.14%, to finish at 1,423.53. The Nasdaq Composite Index fell 1.94 points, or 0.08%, to close at 2,427.61.
As per provisional data, FIIs were net sellers to the tune of Rs 354 crore on Wednesday (20 December). They were net buyers to the tune of Rs 270 crore in index-based futures and Rs 152 crore in individual stock futures on that day.
Crude oil climbed to a three-month high in New York after a government report showed that US inventories dropped more than expected and imports fell, signalling that OPEC is acting on its pledge to trim output. Crude oil for February delivery rose 26 cents, or 0.4%, to $63.72 a barrel on the New York Mercantile Exchange, the highest close for the contract nearest expiration since 18 September.
At 12:28 IST the Sensex was up 5.57 points, at 13,345.73. It had opened lower, and slipped to an intra-day low of 13,182.35 as selling continued. Here, the benchmark index found support, and struck an intra-day high of 13,361.30 by 11:07 IST.
The market-breadth was strong on BSE, as buying for small-cap and midcap stocks continued. Against 1,343 shares that advanced on BSE, 996 declined. As many as 89 remained unchanged. Gainers outpaced losers by a ratio of 1.3:1.
The total turnover on BSE amounted to Rs 2,066 crore.
Among the 30-Sensex pack, 17 decline while the rest advanced.
Reliance Communication was the top gainer, up 2.15% to Rs 457.15, on a volume of 9.42 lakh shares.
Reliance Energy (up 1.75% to Rs 523), Tata Motors (up 1.63% to Rs 849.55) and Bajaj Auto (up 0.71% to Rs 2,527) followed.
Index heavyweight Reliance Industries (RIL) gained 0.56% to Rs 1,255.65 on a volume of 3.16 lakh shares. Recently, RIL and its partner Niko Resources, discovered oil in the hydrocarbon rich Krishna-Godavari basin. The two have discovered a column of gas condensate of 170 m and 24 m of oil-bearing hydrocarbons. RIL has 90% stake in the block and Niko 10%.
State-run engineering firm Bharat Heavy Electricals (Bhel) rose 0.30% to Rs 2,285, after it bagged an order worth Rs 165 crore from Indian Oil Corporation for a power generation unit.
ONGC was the top loser, down 1.02% to Rs 850, on a volume of 1.08 lakh shares. Reports say, it has struck gas in Mahanandi, which may contain 3 - 4 trillion cubic feet natural gas.
Satyam Computers (down 0.96% to Rs 454) and L&T (down 0.78% to Rs 1397.90) were the other losers.
Telecom software firm Tech Mahindra jumped 20% to Rs 1,492.55, on high volumes of 19.93 lakh shares, with pending buy order of 47,309 shares on BSE. It has also signed a $ 1 billion contract with British Telecoms (BT), the validity of which is for over five years.
Power transmission equipment firm KEC International rose 3% to Rs 357, a day after it secured orders worth Rs 151 crore. Three of these are for setting up transmission lines in the United Arab Emirates, and one for transmission lines in Ghana, the company said in a statement.
Dishman Pharmaceuticals & Chemicals rose 3.30% to Rs 232.50, after it announced a joint venture in Saudi Arabia with Takamul Investments Holding Company (Takamul), a group company of Capital Advisory Group for manufacturing hospital disinfectant formulations, anti-cancer drug formulations and dry powder inhaler (DPI).
Asian markets were mostly subdued, as they took a breather after a strong rebound in the previous session.
US stocks edged lower on Wednesday in light trading as a disappointing outlook from FedEx Corp pulled down transport stocks and offset the positive influence of the latest round of proposed takeovers. The Dow Jones industrial average dipped 7.45 points, or 0.06%, to end at 12,463.87, while the Standard & Poor's 500 Index edged down 2.02 points, or 0.14%, to finish at 1,423.53. The Nasdaq Composite Index fell 1.94 points, or 0.08%, to close at 2,427.61.
As per provisional data, FIIs were net sellers to the tune of Rs 354 crore on Wednesday (20 December). They were net buyers to the tune of Rs 270 crore in index-based futures and Rs 152 crore in individual stock futures on that day.
Crude oil climbed to a three-month high in New York after a government report showed that US inventories dropped more than expected and imports fell, signalling that OPEC is acting on its pledge to trim output. Crude oil for February delivery rose 26 cents, or 0.4%, to $63.72 a barrel on the New York Mercantile Exchange, the highest close for the contract nearest expiration since 18 September.
posted by SY at 1:21 PM
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