The Market remained strong aided by technology, FMCG, capital goods, auto and select oil stocks. The Sensex jumped 195.60 points to 28712.19 and the Nifty advanced 49.45 points to 8709.75. Coal India rallied 5 percent after the government removed the cap on e-auction sales volumes. Reliance Industries and TCS extended uptrend to 3.5 percent and 2.5 percent, respectively. Dr Reddy's Labs gained 2 percent as the company and its subsidiaries filed 3 new drug applications with the US drug regulator FDA. ITC, Infosys, Bharti Airtel, Cipla, GAIL and BHEL advanced 1 percent each whereas HDFC, Axis Bank, ONGC and Hero Motocorp fell 1-2 percent. Sun Pharma, ICICI Bank and NTPC slipped over 0.5 percent. Sesa Sterlite declined more than 2 percent after S&P downgraded Vedanta's credit rating to BB- from BB with a negative outlook citing weak financial performance for atleast 12 more months because of low oil prices. The broader markets also maintained morning gains, up 0.8-1.7 percent. About 1707 shares have advanced, 955 shares declined, and 201 shares are unchanged on the BSE.
Shares of Coal India (CIL) have moved higher by 4% on reports that the coal ministry has removed cap on the state-owned miner’s e-auction sales.
The rupee is trading down four paise at 62.30 against the US dollar today at the Interbank Foreign Exchange. Increased demand for the dollar from importers also weighed on the local currency but the positive trend in domestic equity market limited the rupee’s losses.
Shares of Coal India (CIL) have moved higher by 4% on reports that the coal ministry has removed cap on the state-owned miner’s e-auction sales.
The rupee is trading down four paise at 62.30 against the US dollar today at the Interbank Foreign Exchange. Increased demand for the dollar from importers also weighed on the local currency but the positive trend in domestic equity market limited the rupee’s losses.
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