Monday, 2 September 2013

Sensex rises 301 points in afternoon trade

Some positive buying is seen in FMCG, metal, realty, consumer durables, banking, oil & gas, capital goods, healthcare and power sectors on BSE

At 12:56 PM (IST), S&P BSE Sensex is 301 points up at 18,921, while it had hit a high of 18,935.

The 50-share Nifty is 87 points up at 5,559 and it had hit a high of 5,563.

BSE Mid-cap is 67 points up at 5,368, whereas BSE Small-cap is 58 points higher at 5,249.

Some positive buying is seen in FMCG, metal, realty, consumer durables, banking, oil & gas, capital goods, healthcare and power sectors on BSE.

ITC, Tata Steel, Jindal Steel, HDFC, ICICI Bank, RIL, Hindalco, Maruti Suzuki and Sesa Goa are up on BSE, whereas M&M, Tata Power, NTPC, Dr Reddy's Lab, HDFC Bank and Wipro are showing some weakness.

Jet Airways Ltd is 5.05% up, after the Abu Dhabi-based Etihad Airways has extended a deadline for regulatory approval that ended on August 31, until end of September.

Sun Pharmaceuticals's US subsidiary, Taro Pharmaceuticals, has entered into an exclusive development and licensing agreement with NovaBiotics, for its novel anti-fungal drug Novexatin. Sun Pharma is 1.47% up.

Bajaj Auto total sales declined 9% to Rs. 3.12 lakh in August 2013 from 3.44 lakh in August 2013. The scrip is 1.45% up on BSE.

Reliance Industries is facing excessive delays in receiving regulatory approvals for five key oil and gas projects worth $7.5 billion. The scrip is 2.81% up on BSE.

L&T Construction has won water project orders worth Rs. 11.41 billion. L&T is 1.34% up.

Maruti Suzuki rose 2.36% on the news that the car maker sold a total of 87,323 units in August 2013.

Bharti Airtel is trading 0.37% up on BSE. The company is in race to acquire Loop Mobile, according to a media report.

JPMorgan has cut the country's GDP growth forecast to 4.1% for the fiscal year ending March 2014. The brokerage had earlier projected India's GDP growth at 5.1%.

The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index™ (PMI™) fell from 50.1 to 48.5 in August, indicating a moderate deterioration of business conditions. The latest index reading was the
lowest in four-and-a-half years and the first sub-50.0 reading since March 2009.

The finance ministry has asked the RBI to consider if export credit could be included in priority sector lending of banks

Nikkei closed 184 points up at 13,572, while Hang Seng is trading 390 points up at 22,121.

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