Indian Stock Markets opened marginally higher and banking stocks have continued from yesterday’s rally. Axis Bank and SBI were among major gainers in early trades. BSE Sensex was up by 15 points while NSE Nifty was higher by 3 points.
Among banking stocks, Federal Bank, Union Bank, Axis Bank and Bank of India were up by more than a per cent. PNB, Kotak Mahindra, IndusInd Bank, SBI, Bank of Baroda, Yes Bank and Canara Bank were trading higher.
Among sectoral indices, BSE Auto was up by 86 points. BSE HealthCare was up by 45 points and BSE Metals index was also positive. IT, Oil & Gas and Capital Goods stocks were trading lower.
Aashish Tater of Fortunewizard. com has suggested Omkar Speciality Chemicals as a multbagger stock during at interview with CNBC-TV18. He has also suggested investors to buy Lanco Infratech with a medium term view for decent gains.
Indian Markets opened positive on Wednesday with BSE Sensex up by 42 points at 19296 and NSE Nifty up by 11 points. Asian Markets were trading strong as well. Nikkei 225 was trading higher as Japanese Yen was weak compared to US Dollar and Euro.
CFO of McLeod Russel has expressed his view that tea prices are likely to remain strong during year 2013. As the production of tea was hit by weather, the supply constraint will most likely push up prices. McLeod Russel stock was up by 0.6% at Rs 356.
Bharti Airtel, JP Associates, Ranbaxy Labs, Cipla and Sun Pharma were among major gainers in todays session. Infosys, TCS, Wipro and other technology counters were trading marginally lower. Banking stocks were also trading lower compared to previous close.
Market analyst SP Tulsian has given buy call for Balrampur Chini. Sudarshan Sukhani has given buy call for Sesa Goa. Manoj Murlidharan has given buy call for ITC with target price of Rs 301.
CARE has debuted on stock market today with positive surprise for retail investors. The stock has touched intraday high of Rs 985 and is currently trading at Rs 964 on back of strong trading volume.
Indian Stock Market closed marginally lower after hovering in negative territory for the trading session. European markets closed marginally higher compared to previous closing. BSE Sensex was down by 22 points at 19453 during the closing bell.
USD gained further ground compared to Indian currency. USD-INR was trading at 54.85. Euro was also trading strong at 72.81. Euro is near its all time high compared to Indian currency.
Among major gainers in today’s session were metal stocks. Hindalco gained 2.35% to close at Rs 132. Jindal Steel gained 2.2%. Tata Steel was also higher by 1.77% at Rs 431.
Major losers included Ambuja Cements, Sun Pharma, BPCL and Jaiprakash Associates.
Among major companies, Reliance, ONGC, ITC and Coal India closed flat. TCS gained Rs 19.4 to close the day at Rs 1252.
The banking amendment bill received final approval in the parliament today. BJP has retained similar number of seats in Gujarat. Congress won 36 seats in Himachal Pradesh.
Indian Stock Markets closed marginally higher on Tuesday. BSE Sensex closed 42 points higher at 19348 and NSE Nifty closed 5 points higher compared to yesterday’s close. Among European stocks, CAC was up by 0.8%. DAX and FTSE were marginally higher.
Jaiprakash Associates was among major gainers in today’s trade. The stock closed above Rs 100 after gaining 4.4%. Tata Power, Reliance and Ranbaxy Labs were among major gainers.
Top losers included Ambuja Cements, Mahindra & Mahindra, Wipro and TCS. The markets are looking at FDI in retail decision as various political parties have kept their cards hidden on the issue.
Rating agency Moody’s has maintained negative outlook for Indian banks. The financial services and banking sector is facing pressure on margins.
USD was trading at 54.68 compared to INR. Euro was strong compared to Indian currency at 71.52. Gold prices were down by 0.44% at Rs 31125 per 10 grams.