Tag Archives: High

Indian Stock Market Gains Marginally; Dr Reddys Labs Touches 52-week High

Indian Stock Market gained in the last two hours of trading session. The market was helped by the buying witnessed in HDFC and ITC. BSE Sensex closed 51 points higher while NSE Nifty closed 13 points higher.

Pharmaceutical major Dr Reddys Labs touched 52-week high of Rs 1921 and the stock closed at Rs 1908. Idea Cellular also touched 52-week high of Rs 112. Other stocks touching 52-week high included ING Vysya Bank, K Sera Sera, Cipla, Bank of Maharashtra, Marico, Nahar Spinning, Pantaloon Retail, Oracle Financial, RS Software and SBI.

Indian Currency gained compared to US dollar and Euro. Gold price remained flat while Silver was up by 0.4%.

Fitch Ratings has again raised the alarm against the Indian economy and growth outlook. The rating agency has cited high fiscal deficit as a reason for upcoming downgrades for Indian economy.

Finance Minister was quick to respond to Fitch’s report of future downgrades for India. He added that India is not concerned about downgrade as he is confident of containing the fiscal deficit.

Indian Stock Indices Trade Marginally Higher; Asian Stocks High

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.