Markets end on a new high
The markets ended on a new high outperforming most of its Asian peers. Asian markets closed in red and even Europe was trading weak after the Fed cut rates by 25 bps disappointing analyst who were expecting a 50 bps cut. Midcap and smallcaps were the star performers.
Sensex closed up 84.98 points or 0.42% at 20375.87, and the Nifty up 62.05 points or 1.02% at 6159.30.
Reliance Industries was flat at Rs 2,878.05. The company said on Tuesday, 11 December 2007, it has signed exploration and production contracts with Colombia's Agencia Nacional de Hydrocarburos for two offshore blocks, Borojo North and Borojo South.
Banking stocks declined. ICICI Bank (down 2.37% to Rs 1,284.90) and State Bank of India (down 0.24% to Rs 2,440) edged lower. Interest rates in India are unlikely to come down in the short to medium term, T.S. Bhattacharyya, managing director of State Bank of India said today. HDFC Bank rose 0.31% to Rs 1,780.25.
IT pivotals were mixed. Infosys (down 3.79% to Rs 1,677), Satyam Computer Services (down 2.67% to Rs 429.90) edged lower. Wipro (up 0.08% to Rs 505.55) and Tata Consultancy Services (up 0.94% to Rs 1,049) edged higher.
Healthcare stocks advanced in late trade. Cipla (up 2.36% to Rs 199.55), Ranbaxy Laboratories (up 0.63% to Rs 407.70) and Dr. Reddy’s Laboratories (up 1.75% to Rs 685.80) edged higher.
Realty stocks rose. Hosing Development & Infrastructure (up 14.01% to Rs 978.30), Ansal Properties & Infrastucture (up 22.38% to Rs 418.35), Indiabulls Real Estate (up 3.19% to Rs 746.55) Unitech (up 1.28% to Rs 485.95), and DLF (up 0.74% to Rs 1,021.10) edged higher.
Metal stocks surged in late trade. Tata Steel rose 3.42% to Rs 864.45. The company today said it has signed a joint venture agreement with state-run mineral development company SODEMI for the development of Mount Nimba iron ore deposits in Ivory Coast, West Africa.
Jindal Saw (up 12.35% to Rs 1,036.45), Shree Precoated Steel (up 3.67% to Rs 395.15), National aluminium Company (up 11.55% to Rs 451.45), Hindalco Industries (up 3.06% to Rs 205.65), Steel Authority of India (up 3.85% to Rs 287.55) edged higher.
HDFC (up 5.33% to Rs 3,103.95), Reliance Communications (up 3.51% to Rs 765.75), NTPC (up 3.21% to Rs 251) edged higher.Bharat Heavy Electricals declined 0.82% to Rs 2,648.35.
Reliance Energy declined 0.72% to Rs 1,931.70. It has bagged an engineering, procurement and construction (EPC) contract from Damodar Valley Corporation (DVC) to set up a coal based power station at Raghunathpur in West Bengal. The contract is valued at over Rs 3,725 crore. The EPC Group of Reliance Energy currently has orders on hand for execution aggregating over Rs 10,000 crore.
Sensex closed up 84.98 points or 0.42% at 20375.87, and the Nifty up 62.05 points or 1.02% at 6159.30.
Reliance Industries was flat at Rs 2,878.05. The company said on Tuesday, 11 December 2007, it has signed exploration and production contracts with Colombia's Agencia Nacional de Hydrocarburos for two offshore blocks, Borojo North and Borojo South.
Banking stocks declined. ICICI Bank (down 2.37% to Rs 1,284.90) and State Bank of India (down 0.24% to Rs 2,440) edged lower. Interest rates in India are unlikely to come down in the short to medium term, T.S. Bhattacharyya, managing director of State Bank of India said today. HDFC Bank rose 0.31% to Rs 1,780.25.
IT pivotals were mixed. Infosys (down 3.79% to Rs 1,677), Satyam Computer Services (down 2.67% to Rs 429.90) edged lower. Wipro (up 0.08% to Rs 505.55) and Tata Consultancy Services (up 0.94% to Rs 1,049) edged higher.
Healthcare stocks advanced in late trade. Cipla (up 2.36% to Rs 199.55), Ranbaxy Laboratories (up 0.63% to Rs 407.70) and Dr. Reddy’s Laboratories (up 1.75% to Rs 685.80) edged higher.
Realty stocks rose. Hosing Development & Infrastructure (up 14.01% to Rs 978.30), Ansal Properties & Infrastucture (up 22.38% to Rs 418.35), Indiabulls Real Estate (up 3.19% to Rs 746.55) Unitech (up 1.28% to Rs 485.95), and DLF (up 0.74% to Rs 1,021.10) edged higher.
Metal stocks surged in late trade. Tata Steel rose 3.42% to Rs 864.45. The company today said it has signed a joint venture agreement with state-run mineral development company SODEMI for the development of Mount Nimba iron ore deposits in Ivory Coast, West Africa.
Jindal Saw (up 12.35% to Rs 1,036.45), Shree Precoated Steel (up 3.67% to Rs 395.15), National aluminium Company (up 11.55% to Rs 451.45), Hindalco Industries (up 3.06% to Rs 205.65), Steel Authority of India (up 3.85% to Rs 287.55) edged higher.
HDFC (up 5.33% to Rs 3,103.95), Reliance Communications (up 3.51% to Rs 765.75), NTPC (up 3.21% to Rs 251) edged higher.Bharat Heavy Electricals declined 0.82% to Rs 2,648.35.
Reliance Energy declined 0.72% to Rs 1,931.70. It has bagged an engineering, procurement and construction (EPC) contract from Damodar Valley Corporation (DVC) to set up a coal based power station at Raghunathpur in West Bengal. The contract is valued at over Rs 3,725 crore. The EPC Group of Reliance Energy currently has orders on hand for execution aggregating over Rs 10,000 crore.
Labels: Nifty.Sensex
posted by SY at 5:47 PM
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