Web Sify
Follow us on
Mail
Print

Sensex up 81 points as blue chips recover after mild setback

Source : SIFY
Last Updated: Thu, Sep 27, 2012 08:59 hrs
Commuters walk past the BSE building in Mumbai

After a firm start and a susbequent retreat that saw the Sensex very nearly plunging into the red, the market has rallied smartly this morning with investors indulging in some hectic buying in capital goods, power and automobile stocks.

At 18,713.61, off the day's high of 18,735.95, the Sensex is now up 81.44 points or 0.44% from its previous closing mark. The Nifty index of the National Stock Exchange is up 23 points or 0.4% at 5686.45.

FMCG, realty, bank and healthcare stocks are also edging higher, due presumably to some short-covering ahead of expiry of near month derivatives contracts. Metal stocks are trading mixed, while oil and information technology stocks are quite subdued.

Tata Power has jumped 6% to Rs 108.80, ahead of the Central Electricity Regulatory Commission final hearing on the tariff revision plea of the company for the 4,000 MW Mundra Ultra Mega Power Project. Coastal Gujarat Power Ltd, a Tata Power company that operates the Mundra UMPP, had approached the CERC seeking a mechanism to offset the increase in cost of production by passing it to the buyers. The company is seeking a revision of about Re 1 per unit from this project, according to reports.

Larsen & Toubro is trading 2.7% up. Mahindra & Mahindra is up 2.2% and Maruti Suzuki is up with a gain of 1.8%. Jindal Steel, State Bank of India, Bajaj Auto, Bharti Airtel, Tata Steel and Hindalco are trading higher by 1% - 1.4%.

HDFC, Hindustan Unilever, Sun Pharmaceutical Industries, Tata Consultancy Services, GAIL India and Hero Motocorp are also trading firm.

HCL Technologies is up nearly 2.5%. Axis Bank, Kotak Bank, Jaiprakash Associates, ACC, Grasim Industries, Power Grid Corporation, Bank of Baroda and Siemens are also trading notably higher.

BHEL, Wipro, SAIL, Infosys, Coal India, ONGC, Cairn India, Cipla and Sesa Goa are down in negative territory, losing 0.4% - 1.4%.

Anant Raj Industries is up 5% following an announcement from the company that it has sold its subsidiary Aakarshak Realtors for around Rs 28.6 crore.

Shares of Vijay Mallya firms United Breweries, UB Holdings, United Spirits and Kingfisher Airlines moved higher on the back of reports that United Spirits has resumed talks with British drinks giant Diageo for a possible stake sale.

On Tuesday, United Spirits and Diageo plc issued a joint statement saying that Diageo plc is in discussion with United Spirits and United Breweries (Holdings) in respect of possible transactions for Diageo plc to acquire an interest in United Spirits.

Man Industries Limited shares spurted 5%, hitting an all-time in the process, following the company's directors raising their holdings through open market purchase. “Man Finance along with Rameshchandra Mansukani and his family members have acquired 776,459 million shares representing 1.35% stake of the company in past one week through market purchase,” the company said in a filing to the exchanges.

In the currency market, the rupee moved up to 53.37 against the U.S. dollar, gaining 14 paise, on the back of dollar selling by exporters and banks. On Wednesday, the partially convertible Indian currency had ended at 53.51 against the greenback, recording a loss of 15 paise.


More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance