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Sensex rises 100 pts; Ranbaxy hits 52-week high
Clean Media Correspondent
Mumbai, Aug 23 (CMC) Indian shares gained some strength today after a consolidation in previous session due to buying interest in technology, fast moving consumer goods, banks, metals and healthcare stocks. Asian markets like Hang Seng and Nikkei gained 0.9% and 0.2%, respectively whereas Shanghai declined just 0.2% due to HSBC's Preliminary PMI for August hit a 9-month low of 47.8 as against final 49.3 in July.
The 30-share BSE Sensex gained 98.56 points at 17,945.42 and the 50-share NSE Nifty rose 28.40 points to 5,441.25. The broader markets were up 0.5% as the market breadth remained in favour of advances.
Country's largest IT services exporters TCS, Infosys and Wipro moved up 1-1.6%. FMCG majors ITC and Hindustan Unilever went up 0.4%-0.8%.
Top lenders State Bank of India, ICICI Bank and HDFC Bank gained between 0.3% and 0.7%.
Healthcare stocks like Sun Pharma, Cipla and Dr Reddy's Labs climbed 0.5%-1.5% while Ranbaxy Labs hit a 52-week high of Rs 552.70 with gaining nearly 3%.
Metals stocks strengthened on hopes of fiscal stimulus by Federal Reserve. Jindal Steel surged 2.4% while Tata Steel and Hindalco Industries rose nearly 1.5%. Sterlite Industries was up 0.5%.
Top commercial vehicle maker Tata Motors and two-wheeler maker Bajaj Auto fell 0.8% on profit booking.
Telecom operator Bharti Airtel lost another 0.7% today after falling more than 3.5% yesterday due to downgrade by various foreign research firm. Nomura downgraded the stock to reduce and cut price target to Rs 220 from Rs 280.
Sensex opens 80 pts higher; metals, banks, FMCG gain
The BSE Sensex and NSE Nifty started off Thursday trade with a positive bias on hopes of QE3 by US Federal Reserve. Banks, technology metals, FMCG and capital goods stocks led the support while Bharti Airtel remained under pressure.
Sensex rises 100 pts; Ranbaxy hits 52-week high
Clean Media Correspondent
Mumbai, Aug 23 (CMC) Indian shares gained some strength today after a consolidation in previous session due to buying interest in technology, fast moving consumer goods, banks, metals and healthcare stocks. Asian markets like Hang Seng and Nikkei gained 0.9% and 0.2%, respectively whereas Shanghai declined just 0.2% due to HSBC's Preliminary PMI for August hit a 9-month low of 47.8 as against final 49.3 in July.
The 30-share BSE Sensex gained 98.56 points at 17,945.42 and the 50-share NSE Nifty rose 28.40 points to 5,441.25. The broader markets were up 0.5% as the market breadth remained in favour of advances.
Country's largest IT services exporters TCS, Infosys and Wipro moved up 1-1.6%. FMCG majors ITC and Hindustan Unilever went up 0.4%-0.8%.
Top lenders State Bank of India, ICICI Bank and HDFC Bank gained between 0.3% and 0.7%.
Healthcare stocks like Sun Pharma, Cipla and Dr Reddy's Labs climbed 0.5%-1.5% while Ranbaxy Labs hit a 52-week high of Rs 552.70 with gaining nearly 3%.
Metals stocks strengthened on hopes of fiscal stimulus by Federal Reserve. Jindal Steel surged 2.4% while Tata Steel and Hindalco Industries rose nearly 1.5%. Sterlite Industries was up 0.5%.
Top commercial vehicle maker Tata Motors and two-wheeler maker Bajaj Auto fell 0.8% on profit booking.
Telecom operator Bharti Airtel lost another 0.7% today after falling more than 3.5% yesterday due to downgrade by various foreign research firm. Nomura downgraded the stock to reduce and cut price target to Rs 220 from Rs 280.
Sensex opens 80 pts higher; metals, banks, FMCG gain
The BSE Sensex and NSE Nifty started off Thursday trade with a positive bias on hopes of QE3 by US Federal Reserve. Banks, technology metals, FMCG and capital goods stocks led the support while Bharti Airtel remained under pressure.
Sensex must keep on swelling to keep the indian economy robust!
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