Sensex on firm foot, RCom, ONGC, RIL, RInfra up
Tuesday, 29 June 2010
MUMBAI, June 28 (Economic Times): Indices were near day's highs as investors continued to add index heavy-weights from oil&gas space. Positive opening of the European markets also boosted sentiments.
At 2:20 pm, Bombay Stock Exchange's Sensex was at 17740.55, up 166.02 points or 0.94 per cent. The index touched a high of 17751.18 and low of 17571.85 in trade so far.
National Stock Exchange's Nifty was at 5320.25, up 51.2 points or 0.97 per cent. The broader index hit intra-day high of 5324.15 and low of 5270.75.
BSE Midcap Index was up 0.92 per cent and BSE Smallcap Index moved 1.12 per cent higher.
Amongst the sectoral indices, BSE Oil&gas Index gained 2.31 per cent, BSE Power Index advanced 1.48 per cent and BSE Realty Index moved up 1.33 per cent.
Reliance Communications (4.34 per cent), ONGC (3.33 per cent), Reliance Infrastructure (2.80 per cent), Reliance Industries (2.23 per cent) and Tata Steel (1.79 per cent) were amongst the top Sensex gainers.
Reliance Communications Sunday announced a deal that would see its tower business combine with smaller rival GTL Infrastructure to create what it claimed would be the world's largest independent telecom tower company with an enterprise value of Rs 500 billion and 80,000 towers. The GTL Infra-RCOM deal is one of the biggest domestic M&A deals.
Pemex and Reliance Industries may soon forge a partnership to develop a large-capacity greenfield refinery in Mexico. The 300,000-barrels-a-day refinery will largely meet the domestic energy requirements of Mexico.
Shares of oil&gas companies like ONGC and oil marketing companies moved higher after the government hike petrol, diesel and LPG prices.
Losers included ITC (-1.37 per cent), Jindal Steel (-0.82 per cent), Maruti (-0.50 per cent), Hero Honda (-0.46 per cent), and Cipla (-0.04 per cent).
Market breadth was positive on the BSE with 1799 gainers and 1028 declines.
European markets were in the green but off early gains profit booking emerged in banks. FTSE 100 was up 0.56 per cent, CAC 40 gained 0.97 per cent and DAX climbed 0.92 per cent higher.
At 2:20 pm, Bombay Stock Exchange's Sensex was at 17740.55, up 166.02 points or 0.94 per cent. The index touched a high of 17751.18 and low of 17571.85 in trade so far.
National Stock Exchange's Nifty was at 5320.25, up 51.2 points or 0.97 per cent. The broader index hit intra-day high of 5324.15 and low of 5270.75.
BSE Midcap Index was up 0.92 per cent and BSE Smallcap Index moved 1.12 per cent higher.
Amongst the sectoral indices, BSE Oil&gas Index gained 2.31 per cent, BSE Power Index advanced 1.48 per cent and BSE Realty Index moved up 1.33 per cent.
Reliance Communications (4.34 per cent), ONGC (3.33 per cent), Reliance Infrastructure (2.80 per cent), Reliance Industries (2.23 per cent) and Tata Steel (1.79 per cent) were amongst the top Sensex gainers.
Reliance Communications Sunday announced a deal that would see its tower business combine with smaller rival GTL Infrastructure to create what it claimed would be the world's largest independent telecom tower company with an enterprise value of Rs 500 billion and 80,000 towers. The GTL Infra-RCOM deal is one of the biggest domestic M&A deals.
Pemex and Reliance Industries may soon forge a partnership to develop a large-capacity greenfield refinery in Mexico. The 300,000-barrels-a-day refinery will largely meet the domestic energy requirements of Mexico.
Shares of oil&gas companies like ONGC and oil marketing companies moved higher after the government hike petrol, diesel and LPG prices.
Losers included ITC (-1.37 per cent), Jindal Steel (-0.82 per cent), Maruti (-0.50 per cent), Hero Honda (-0.46 per cent), and Cipla (-0.04 per cent).
Market breadth was positive on the BSE with 1799 gainers and 1028 declines.
European markets were in the green but off early gains profit booking emerged in banks. FTSE 100 was up 0.56 per cent, CAC 40 gained 0.97 per cent and DAX climbed 0.92 per cent higher.