Indian shares bounced back Tuesday and made some marginal gains on the back of buying interest in blue chip stocks after ending lower a day earlier following seven successive trading days of sustained gains.
In the process, the benchmark 30-share sensitive index (Sensex) of the Bombay Stock Exchange again ended above the crucial 6,700-point mark, making a gain of 51.56 points or 0.77 percent at 6,715.11 points.
The barometer index had opened at 6,666.17 points - against Monday's close at 6,633.55 points - and fell for a brief while to Tuesday's low of 6.647.17 points.
The position improved as trading progressed and the Sensex hit the day's high of 6,722.55 points an hour before close. Twenty shares comprising the Sensex made gains, while 10 others ended in the red.
Over the past month, the Sensex has risen 9.11 percent, while the gains stand sharply higher at 41.09 percent over the past year.
"The markets have been on the rise over the past month because of good corporate results. Buying interest from institutional investors and mutual funds have also helped," said an analyst with a brokerage here.
"But now, all eyes are now on the monsoons. If we get good rains, we should see the Sensex breach the 6,700-point level soon with further investments by foreign and domestic institutions."
In the early hours of trading, Infosys Technologies lent support to sentiments by announcing a $39 million investment plan with engineering giant Alstom for a research and development centre in the country.
Reliance Energy too rose sharply following media reports that it was planning a 12,000MW power plant in Orissa.
Among other Sensex stocks, ITC rose 2.69 percent at Rs.1,559, Satyam Computers was up 2.22 percent at Rs.453.50, Reliance Industries rose 1.63 percent at Rs.535.25 and Bharti Televentures gained 1.49 percent at Rs.224.05.
Hero Honda led the losers, down 2.82 percent at Rs.553, followed by Hindustan Petroleum, down 1.43 percent at Rs.335.15, Larsen and Toubro, down 1.25 percent at Rs.1,046.65 and Hindustan Lever, down 0.93 percent at Rs.143.15.
Indo-Australia committed to resolve agri-trade issues
Publish Date : 3/3/2007 7:21:00 AM
The agri-trade has become a very contentious issue in the World Trade Organisation (WTO), but India and Australia have agreed to resolve issues coming in the way of trade in agricultural goods by setting up a mechanism.
RBI to absorb more liquidity to contain inflation
Publish Date : 3/3/2007 7:11:00 AM
In a bid to further contain inflation, Reserve Bank of India today announced a modified market stabilisation scheme (MSS) and liquidity adjustment facility (LAF) to suck out Rs 11,500 crore from the system.
Gold and Silver prices turn distinctly weak
Publish Date : 3/3/2007 7:03:00 AM
Both the precious metals today turned distinctly weak on the bullion market as silver plunged by Rs 570 and gold by Rs 155 on heavy stockists offerings tiggered by sharp fall in the global markets.
Further fall in gold and silver prices
Publish Date : 3/2/2007 7:06:00 AM
Both the precious metals continued to decline on the bullion market here today on sustained offering from stockists in view of fall in the international markets.
Rupee ends marginally up at 44.26/27 a dollar
Publish Date : 3/2/2007 7:03:00 AM
The rupee today ended marginally higher at Rs 44.26/27 a dollar, supported by a smart recovery on equity markets coupled with fresh exporters' dollar sales.
Hyundai domestic sales up 74 pc in Feb
Publish Date : 3/2/2007 7:01:00 AM
Hyundai Motor India today reported a 74 per cent increase in its domestic vehicle sales during February at 15,459 units compared to the same month last year.
Hutchison Telecom files caveat fearing legal move by Essar
Publish Date : 3/2/2007 6:59:00 AM
Hong Kong-based Hutchison Telecom has filed a caveat before the Bombay High Court to ensure that its plea is heard in case Essar moves the court, challenging the the foreign partner's decision to sell stake to Vodafone.
Skoda slashes car prices up to Rs 24,000
Publish Date : 3/2/2007 6:56:00 AM
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.
Bond prices continue to decline
Publish Date : 3/1/2007 8:30:00 AM
Government bond prices continued to decline on persistent selling while call rates eased in view of ample liqudity in the system.
India should be more conscious of global developments: RBI
Publish Date : 3/1/2007 8:19:00 AM
The Reserve Bank of India today said the steep fall in Indian stock markets was a contagious effect of plunge in overseas bourses and the country should have strong market and regulatory mechanism to avoid disruption in markets.
Total Results : 354
More News (Opens in New Window) : [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Next Page
|