2011年6月23日 星期四

Nifty ends above 5300; RIL, ITC, RCom, HUL gain

Benchmarks witness ED a pull-back rally and closed above psychological resistance levels on the back of short-coverings near support levels.Air max classic bw shoes sale best quality and discount price! According to analysts, the market looks weak in the near-term and rallies can be used as an opportunity to exit some of the long positions. Macro economic factors such as inflation and high interest rates are expected to keep the institutional investors on sidelines.

India's food inflation for the week ended June 11 rose to two-and-half month high at 9.13 per cent against 8.authentic christian louboutin pumps are a symbol of nobility.96 per cent. The Finance Minister, Pranab Mukherjee has said the inflation levels were not acceptable and efforts are being made to bring them down.

"We are in the region of high inflationary regime, which is not acceptable. It will have to be brought down," Mukherjee said.

Benchmarks bounced back, after a lower start, as buying activity picked up in Reliance Industries following reports that the company has made another natural gas discovery in the D-9 block of the hydrocarbon rich Krishna Godavari basin. The resource potential of the block is now estimated at 5.210 trillion cubic feet by RIL's minority partner Hardy Oil .

The weak opening of the European markets and high inflation were ignored and the benchmarks ended comfortably higher.

National Stock Exchange's Nifty ended at 5320, up 41.70 points or 0.79 per cent. The broader index touched a high of 5330.60 and low of 5252.25 in trade today.

Bombay Stock Exchange's Sensex closed at 17727.49, up 176.86 points or 1.01 per cent. The 30-share index hit a high of 17754.55 and low of 17482.21 intraday.

While the benchmarks bounced back, profit booking continued in the broader markets. BSE Midcap Index was down 0.06 per cent and BSE Smallcap Index moved 0.33 per cent lower.Clothing designer Erin Fetherston stood nearby wearing a green-and-black ensemble from her spring collection above a pair of christian louboutin platform pumps. Selling pressure continued in S kumars Nationwide, Lovable Lingerie, KS Oils and GTL on concerns of pledged shares by promoters.

Shares of oil marketing companies were in action after ET Now reported that the Oil Ministry is seeking to scrap customs duty on crude, excise duty on diesel. If duty stays then the ministry is seeking Rs 4 per liter price hike in diesel and Rs 150 per liter hike in LPG. The EGoM is likely to meet on Friday to discuss the fuel price hike. It may mull hike in diesel and cooking gas price.

Amongst sectoral indices, BSE FMCG Index was up 2.18 per cent, BSE Oil&gas Index gained 1.95 per cent and BSE IT Index moved 0.Make is comparable history,christian louboutin high heel shoes it repeats itself and is inspired/copied.98 per cent higher. BSE Healthcare Index was down 0.53 per cent and BSE Realty Index slipped 0.36 per cent.

ITC (3.46%) Reliance Communications (3.36%), Reliance Industries (2.95%), Reliance Capital (2.64%) and Hindustan Unilever (2.33%) were the major Nifty gainers.

Maruti (-2.50%),christian louboutin women shoes, the uncrowned French king of luxury designer heels, brought a prototype from his new men's range to Dublin yesterday. Cipla (-1.92%), IDFC (-1.56%), Grasim (-1.52%) and Sun Pharma (-1.39%) were the top losers.

Shares of Unitech came under pressure after ET Now reported that the Enforcement Directorate is seeking legal advice to attach some of the specific properties of Unitech Wireless in connection with 2G telecom scam. The ED may attach properties worth Rs 2200 crore in next 7 days. The stock ended 2.18 per cent lower on the NSE.

Market breadth was negative on the NSE with 1627 declines against 1193 gainers.

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