Tag Archives: 10%

Indian Stock Market Gains; PSB Gains 10%

Indian Stock Market closed higher on Tuesday after US managed to escape the fiscal cliff for the moment. BSE Sensex closed 154 points higher at 19580 and NSE Nifty closed 46 points higher at 5950. Next major resistance for NSE Nifty is 6000.

Among European markets, CAC was up yesterday while FTSE and DAX closed lower. US Markets are expected to remain positive in the start of New Year 2013. Markets closed with decent gains with Dow Jones gaining 1.28% and Nasdaq closing 2 per cent higher.

Punjab & Sind Bank gained 10% in today’s session after the bank announced that the board has approved the plan to raise Rs 1000 crore. The stock touched intraday high of Rs 81.75 on NSE and closed Rs 8.10 higher.

Among other major gainers were Reliance Infra, Jindal Steel, Hindalco and PNB. Among banking counters ICICI Bank, Bank of Baroda, HDFC Bank and Axis Bank closed positive.

Power Grid, NTPC, Infosys Technologies and Asian Paints were among major losers in today’s trade.

Indian currency gained smartly compared to USD. USD was down by 31 paisa at 54.68. Euro-INR was trading at 72.28.