As China has cut CRR by 100 bps, the expectaion of a cut by Reserve Bank of India (RBI) grew stronger and this rubbed off on Sensex too.
4:28 PM 11/26/2008
Just in: The markets at 2:05 pm are trading with marginal gains. Sensex gained 111 points and was quoted at 8,808 mark, While Nifty was up 34 points at 2,687 mark. Reliance Industries, ONGC, Bharti, ICICI Bank, HDFC Bank, NTPC, Sterlite, SAIL, Sun Pharma and HDFC are top gainers.
2:34 PM 11/26/2008
Just in: Markets again turned choppy after acquiring early gains. Sensex just reported 46 points up at 8,742 mark and Nifty gained 11 points 2,665 at 10:30 am. Siemens Q4 net profit plunged to Rs 225 cr impacted a little on Sensex.
11:50 AM 11/26/2008
Mumbai, Nov 26: The effect of Asian markets trading rubbed off here as Sensex opened 91 points up at 8,786 mark on Wednesday, Nov 26. Nifty reported 23 points up at 2,677 mark.
Nikkei is trading low on profit booking. US markets too didn't show any gain and ended flat.
ICICI Bank, Wipro, Suzlon Energy, Unitech, HDFC, HDFC Bank, Tata Motors, L&T, BHEL, ACC, Ambuja Cements, Sterlite Industries, M&M and TCS are gainers.
Most Asian markets were trading firm today. The US central bank will purchase as much as USD 600 billion in debt issued or backed by government-chartered housing finance companies.
Among heavyweights, Wipro (up by 1.85 pc to Rs 233), Bharti Airtel (up by 2.17 pc to Rs 640.05), Grasim (up by 1.19 pc to Rs 907.30), HDFC Bank (up by 1.78 pc to Rs 850), State Bank of India (up by 0.50 pc to Rs 1,077.50), HDFC (up by 1.47 pc to Rs 1,370), Reliance Industries (RIL) (up by 1.05 pc to Rs 10) -- all surged.
However, other metal shares such as Hindalco Industries (down by 2.5 pc to Rs 50.05), Tata Steel (down by 2.16 pc to Rs 147.10), Mahindra & Mahindra (down by 2.65 pc to Rs 269.80), Jaiprakash Associates (down by 2 pc to Rs 53.60) and Reliance Communications (down by 1.51 pc to Rs 192.60) edged lower among the Sensex pack.
Foreign institutional investors (FIIs) were net sellers worth Rs 161.88 crore, while mutual funds bought shares worth Rs 155.09 crore yesterday, according to provisional data on NSE.
10:23 AM 11/26/2008