Quotes with Resistance & Support
Market Information

Market reverses losses

This article was posted on Oct 29, 2008 and is filed under Market News

At 12:07am (IST), Sensex was up 146 points at 9,160 and the NSE Nifty was up 41 points at 2,725. Markets are witnessing wild intra-day swings. After sliding in the negative terrain, bulls have yet again staged a smart come back led by gains in the index heavyweights like Reliance Industries, Infosys, HDFC and ICICI Bank. At 12:06 pm (IST).. the BSE 30-share Sensex was up 146 points at 9,160 and the NSE Nifty was up 41 points at 2,725.

Market breath was positive, 1096 stocks advanced against 960 declines, while, 62 stocks remained unchanged.

Among the BSE Sectoral indices, BSE FMCG index (down 3%), BSE Pharma index (down 2.5%) and BSE Auto index (down 0.5%). On the other hand, BSE Metal index (up 3%) and Oil & Gas index (up 2.2%).

According to reports, government may allow NTPC to invest over Rs260bn in setting up five large JV subsidiaries and a foreign subsidiary to acquire overseas assets.

NTPC has gained by half a percent to Rs133 after the scrip touched an intra-day high of Rs135 and a low of Rs128 and has recorded volumes of over 22,00,000 shares on NSE.

Shares of Educomp have rallied by over 13% to Rs2180. The scrip has touched an intra-day high of Rs2199 and a low of Rs1832 and has recorded volumes of over 4,00,000 shares on NSE.

Shares of Unitech have rallied by over 5% to Rs51.8 the company announced that Telenor entered into a definitive agreement with Unitech and its Telecom Companies (“Unitech Wireless”) whereby Telenor would invest over Rs61.2bn to subscribe to new shares in Unitech Wireless, resulting in an enterprise value of Rs116.2bn. Telenor would hold upto 60% stake in Unitech Wireless.

The scrip has touched an intra-day high of Rs54 and a low of Rs47 and has recorded volumes of over 2,00,00,000 shares on NSE.

source: Indiainfoline

Tags: , , , ,

Similar Posts: