Markets trading higher
The markets opened amid high volatility ,swinging between positive and negative zones.Volatility is expected to stay on over the next few days ahead of the expiry of the June 2007 derivatives contracts next Thursday, 28 June 2007.
At 12.10 pm the Sensex is up by 25 points at 14524.05 ,while Nifty is trading at 4268.75 up by barely 1.35 points.
Reliance Energy was the top gainer, up 4.39% to Rs 585.The company was one of the five qualified bidders to have submitted bids for the 4,000-mega watt Sasan ultra mega power project.The Lanco Infratech-Globeleq Singapore consortium had won the bid for the Sasan project after outbidding eight companies by quoting the lowest tariff of Rs 1.19 per unit. However, the project became controversial after Prince Stone Investments, the Mauritius-based holding company of Lanco, and Jindal Steel & Power together acquired Globeleq Singapore in February 2007.
NTPC gained 1.73% to Rs 152.70 boosted by the Bombay High Court’s decision, which came after market hours yesterday, 21 June 2007, that Reliance Industries (RIL) cannot sell the gas to be produced from one of its prime blocks in the Krishna-Godavari basin to any third party other than Anil Ambani’s Reliance Natural Resourses (RNRL) and NTPC.
State Bank of India (SBI) advanced for the fourth straight session, gaining 2.02% to Rs 1475.05.Aluminium and copper major Hindalco Industries advanced 1.71% to Rs 169.70. There is market speculation that promoters are hiking their stake from open market.Index heavyweight Reliance Industries (RIL) lost 1% to Rs 1,715.85.Cement major Gujarat Ambuja Cement was down 1.13% to Rs 118.
At 12.10 pm the Sensex is up by 25 points at 14524.05 ,while Nifty is trading at 4268.75 up by barely 1.35 points.
Reliance Energy was the top gainer, up 4.39% to Rs 585.The company was one of the five qualified bidders to have submitted bids for the 4,000-mega watt Sasan ultra mega power project.The Lanco Infratech-Globeleq Singapore consortium had won the bid for the Sasan project after outbidding eight companies by quoting the lowest tariff of Rs 1.19 per unit. However, the project became controversial after Prince Stone Investments, the Mauritius-based holding company of Lanco, and Jindal Steel & Power together acquired Globeleq Singapore in February 2007.
NTPC gained 1.73% to Rs 152.70 boosted by the Bombay High Court’s decision, which came after market hours yesterday, 21 June 2007, that Reliance Industries (RIL) cannot sell the gas to be produced from one of its prime blocks in the Krishna-Godavari basin to any third party other than Anil Ambani’s Reliance Natural Resourses (RNRL) and NTPC.
State Bank of India (SBI) advanced for the fourth straight session, gaining 2.02% to Rs 1475.05.Aluminium and copper major Hindalco Industries advanced 1.71% to Rs 169.70. There is market speculation that promoters are hiking their stake from open market.Index heavyweight Reliance Industries (RIL) lost 1% to Rs 1,715.85.Cement major Gujarat Ambuja Cement was down 1.13% to Rs 118.
Labels: Nifty.Sensex
posted by SY at 12:10 PM
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