Markets in green as Asian stocks recover
The market opened with a downward gap and lost further ground in early trade tracking weak global markets. The market later recovered from lower level.
At 13.05 hrs IST, the Sensex is up 39.09 points or 0.20% at 19672.45, and the Nifty up 3.20 points or 0.05% at 5910.85.About 2096 shares have advanced, 896 shares declined, and 74 shares are unchanged.
Index heavyweight and India’s largest private sector firm by market capitalisation Reliance Industries was dodeclined 0.15% to Rs 2,848.15, off session's low of Rs 2,808.
Banking stocks rose. India's biggest private sector bank in terms of operating income ICICI bank rose 1.85% to Rs 1,208.80. The stock recovered from session's lows of Rs 1,160.
State Bank of India (SBI) rose 1.09% to Rs 2,330.15. As per reports it is seeking to expand its foothold beyond immediate associate banks by possibly absorbing UCO Bank and Dena Bank. UCO Bank jumped 7.99% to Rs 61 and Dena Bank soared 5.46% to Rs 92.75.
However, India’s second largest private sector bank in terms of net profit HDFC Bank declined 0.31% to Rs 1,650.
Consumer Durable stocks rose. Videocon industries (up 8.84% to Rs 477), Titan Industries (up 1.66% to Rs 1,540) and Blue Star (up 1.27% to Rs 433.90) edged higher.
Gitanjali Gems rose 0.43% to Rs 389.55 after it announced today during market hours that it is forming an equal joint venture with ARMO Netherlands Finance B.V. for importing, wholesale, distribution and manufacture of watches, leather goods, writing instruments, jewellery and other products.
Realty stocks declined. DLF declined 1.45% to Rs 934. Merrill Lynch (ML) has reportedly acquired 49% equity stake in seven residential projects of DLF for Rs 1,481 crore. Indiabulls Real Estate down 0.61% to Rs 655.
Unitech declined 3.38% to Rs 384.95, on reports the company foraying into Mumbai with a commercial project spread over 80 acre near the Bandra Kurla complex.
IT stocks plunged. Tata Consultancy Services (down 1.04% to Rs 977.90), Infosys (down 0.93% to Rs 1,604.70), Satyam Computer Services (down 0.39% to Rs 421 and Wipro (down 0.52% to Rs 455) edged lower.
India’s second largest cement manufacturer by sales ACC rose 3.7% to Rs 1,123.90 and was the top gainer from Sensex pack.ITC (up 2.36% to Rs 203.50), Tata Steel (up 1.77% to Rs 878) and ONGC (up 1.63% to Rs 1,282) edged higher.Bharat Heavy Electricals (down 1.89% to Rs 2,731) and Maruti Suzuki India (down 1.65% to Rs 1,036.15) edged lower.
At 13.05 hrs IST, the Sensex is up 39.09 points or 0.20% at 19672.45, and the Nifty up 3.20 points or 0.05% at 5910.85.About 2096 shares have advanced, 896 shares declined, and 74 shares are unchanged.
Index heavyweight and India’s largest private sector firm by market capitalisation Reliance Industries was dodeclined 0.15% to Rs 2,848.15, off session's low of Rs 2,808.
Banking stocks rose. India's biggest private sector bank in terms of operating income ICICI bank rose 1.85% to Rs 1,208.80. The stock recovered from session's lows of Rs 1,160.
State Bank of India (SBI) rose 1.09% to Rs 2,330.15. As per reports it is seeking to expand its foothold beyond immediate associate banks by possibly absorbing UCO Bank and Dena Bank. UCO Bank jumped 7.99% to Rs 61 and Dena Bank soared 5.46% to Rs 92.75.
However, India’s second largest private sector bank in terms of net profit HDFC Bank declined 0.31% to Rs 1,650.
Consumer Durable stocks rose. Videocon industries (up 8.84% to Rs 477), Titan Industries (up 1.66% to Rs 1,540) and Blue Star (up 1.27% to Rs 433.90) edged higher.
Gitanjali Gems rose 0.43% to Rs 389.55 after it announced today during market hours that it is forming an equal joint venture with ARMO Netherlands Finance B.V. for importing, wholesale, distribution and manufacture of watches, leather goods, writing instruments, jewellery and other products.
Realty stocks declined. DLF declined 1.45% to Rs 934. Merrill Lynch (ML) has reportedly acquired 49% equity stake in seven residential projects of DLF for Rs 1,481 crore. Indiabulls Real Estate down 0.61% to Rs 655.
Unitech declined 3.38% to Rs 384.95, on reports the company foraying into Mumbai with a commercial project spread over 80 acre near the Bandra Kurla complex.
IT stocks plunged. Tata Consultancy Services (down 1.04% to Rs 977.90), Infosys (down 0.93% to Rs 1,604.70), Satyam Computer Services (down 0.39% to Rs 421 and Wipro (down 0.52% to Rs 455) edged lower.
India’s second largest cement manufacturer by sales ACC rose 3.7% to Rs 1,123.90 and was the top gainer from Sensex pack.ITC (up 2.36% to Rs 203.50), Tata Steel (up 1.77% to Rs 878) and ONGC (up 1.63% to Rs 1,282) edged higher.Bharat Heavy Electricals (down 1.89% to Rs 2,731) and Maruti Suzuki India (down 1.65% to Rs 1,036.15) edged lower.
posted by SY at 1:29 PM
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