Friday, April 15, 2011
RIL has announced the start of planned expansion of its domestic projects in the polyester sector. (BL)
RIL has refused to sell natural gas to power and fertilizer plants by cutting supplies to non-priority sectors like steel and refineries. (ET)
ONGC Videsh to sign pact to buy stake in a Kazakh block. (BL)
Essar has approached the RBI seeking its nod to sell 10.97% equity in the joint venture Vodafone Essar for US$1.2bn, which the company claimed is lower than the fair value of shares of US$1.72bn. (ET)
Sensex ended at 19,697 surging 434 points. While, NSE Nifty shot up by 126 points to close at 5,911.
Just when we thought that the Indian stock market seem to have lost its winning ways, bulls were back with a bang on Wednesday. After being under pressure for four straight trading sessions the Indian markets ended with healthy gains on amid a swift recovery seen in the Asian markets. Sentiments further got a boost after the European markets also started off with smart gains.
IT bellwether Infosys Technologies' Q4 result which will be unveiled before the opening of the market will set the tone for the day's trade. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 42 points at the opening bell. The stock market was closed on Thursday, 14 April 2011, on account of Dr. Ambedkar Jayanti. As per provisional figures foreign institutional investors (FIIs) bought shares worth Rs 25.60 crore on Wednesday, 13 April 2011. Domestic institutional investors (DIIs) sold shares worth Rs 4.80 crore on Wednesday.
Today’s start is expected to be in the red as the global markets look unsupportive. Infosys Technologies results will be out today; IT stocks will remain in action.
Headlines for the day:
Fortis to buy 86% in Super Religare Labs
Jaypee to foray into dairy biz
Infosys recasts management for bigger bite of retail, banking & healthcare
Another weak start is in store for the day. Global cues are not encouraging at all. The Hang Seng Index is down for the third day.
“You may never know what results come of your action, but if you do nothing there will be no result” - Mahatma Gandhi
As communities across the country celebrate their new year, the market will hope for an auspicious start to the main results season. The big number comes in from Infosys today.
Bargain hunting after a four-day decline helped Indian stocks log smart gains in what was a global rally. A slide in crude oil prices from 2-1/2-year peak helped ease macroeconomic worries, aiding strong gains in Indian shares. The Sensex was up 434.32 points or 2.25% to 19,696.86, up 595.23 points from the day's low and off 34.51 points from the day's high. The barometer index BSE Sensex settled at one-week high while the 50-unit S&P CNX Nifty settled at 3-month high. The market breadth, indicating the overall health of the market, was strong.