Thursday, April 05, 2007

Third straight day of gains

The markets advanced for the third straight day, backed by firm buying interest for shares from metal, banking and cement sectors.

The 30-shares BSE Sensex settled 69.31 points or 0.54% higher at 12856.08.The S&P CNX Nifty closed with a gain of 18.75 points (0.50%), at 3,752. The Nifty April 2007 futures settled at 3,711, a sharp discount of 41 points over the spot closing.

Tata Steel was the top gainer, up 5.75 % to Rs 463.40.HDFC (up 2.20% to Rs 1529.90), ICICI Bank (up 2.02% to Rs 837.10) and REL (up 2% to Rs 497.10) were the other gainers.
Index heavyweight RIL was down 0.60% to Rs 1355 on 3.50 lakh shares.

State run oil exploration major Oil and Natural Gas Corporation (ONGC) rose 0.10% to Rs 848 after reports that it has entered into service contracts for development of 14 onshore marginal fields with M/s Hydrocarbon Resources Development, M/s Deep Industries, M/s B G Shirke Construction Technology, M/s KEI - RSOS Maritime and M/s Shiv Vani Oil and Gas Exploration. By this process, ONGC has initiated action to put about 96% reserves of marginal fields on production in the XI plan period.

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