3:55 PM 11/25/2008
Just in: Profit booking in European markets has wiped out early gains and the market is trading flat. After trading in green for most part of the day, Sensex now dropped 1.96 points and was quoted at 8,901 mark. But Nifty gained 8.05 points at 2,716.
2:40 PM 11/25/2008
Just in: Unlike Monday, Nov 24 the markets are trading higher... Sensex was up 92 points to 8,995 and the Nifty gained 40 points at 2,748, at 11:37 am. ONGC, Sterlite Industries, Tata Power, Wipro, HDFC Bank, Tata Communication, Cairn India and Reliance Infrastructure are top gainers.
12:33 PM 11/25/2008
Mumbai, Nov 25: US President-elect Barack Obama's new 'economic team', govt's rescue package to ailing Citigroup, a supposed economic bailout package in near future boosted the US economy. On this positive cues, the Sensex surged to green compared to previuos closed in red.
Sensex opened up 253 points at 9,156 mark while Nifty too rose 68 points at 2,776 at 10:00 am.
Asian markets are too trading higher. Nikkei reported a jump of 2 to 4 pc. Gold is trading at 5-week highs and Silver shot up 9 pc.
Key benchmark indices surged in the opening trade boosted by the Citigroup's bailout plan and the US President-elect Barack Obama promising to take extraordinary policy responses to save the world's largest economy from a major financial crisis. Sentiments across the globe improved after the US Government said it was prepared to lend more than USD 7.4 trillion on behalf of American taxpayers to rescue the financial system.
Global cues were strong. Asian markets surged today, after the US rescue of Citigroup bolstered badly needed confidence in the broader banking sector. Key benchmark indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were up by between 0.13 per cent and 3.71 pc.
Volatility may rise in the coming days ahead of the derivatives expiry for November 2008 series on November 27. As per reports, rollover of Nifty positions from November to December series stood at 30 pc yesterday.
Reliance Infrastructure was up by 4.82 pc to Rs 528.90, followed by Grasim (up by 2.45 pc to Rs 930.50) and Hindalco Industries (up by 2.71 pc to Rs 53.10).
ICICI Bank jumped up by 4.31 pc to Rs 336.45 and State Bank of India gained 0.58 pc to Rs 1,153.90 and HDFC Bank rose by 4.29 pc to Rs 867.20.
But, Maruti Suzuki India was down by 0.05 pc to Rs 529.70. It was followed by DLF (down by 0.39 pc to Rs 189.90) and Hindustan Unilever (down by 0.25 pc to Rs 35.35).
10:13 AM 11/25/2008