The sensex rallied for the third day today adding 197 points on heavy buying on realty companies and heavy buying in Reliance Industries.
The Nse index Nifty also ended higher by 45.65 points, The rally today was backed by Reliance Industries and Infosys following strengthening of dollar.
Reliance was up by 5.49 percent following reports that the company has reached agreement with fertilizer firms on sale of gas from its eastern offshore, Realty index was up by 6.32 per cent.
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Week opened Indian stock markets closed father week on the CLAS downgrades of EPS targets of most of the index stocks. CLSA has down graded the EPS targets of ICICI Bank, TATA Steel, and Reliance Industries.
BSE Bank index closed at 4298.91 down by 3.49%, IT index closed at 2038.51 down by 2.69% and Metal Index closed down by 2.67% at 4692.47.
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What can be called as ranged trading, once again the Indian stocks markets closed with very small gains,
In low volumes day the NSE CNX Nifty traded below 2800 level most part of the day and closed at 2789.65 with gains of 13 points, BSE Sensex closed at 9042 up by 27 points.
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Indian markets were on a winning streak as they ended in green back on positive points from global markets on wednesday, National Stock Exchange’s 50-share Nifty closed the day 0.69 per cent higher at 2803. Intraday, it touched a high of 2842.20 and low of 2780.70.
Nifty February futures provisionally ended at a widening discount of 28 points against 19 points on Tuesday. The contract price gained 0.39 per cent and open interest added 16 lakh shares. The sell quantity was nearly 1.5 times that of buy. This indicates build up of short positions in the contract at higher levels.
Reliance Industries February futures slipped 0.25 per cent while open interest added 1.94 lakh shares. The contract was provisionally ended at a discount of Rs 11, indicating modest short build up. State Bank of India February contract has also attracted modest short positions.
While DLF futures jumped 6.28 per cent, Educomp gained 2.84 per cent and Bharati Airtel rose 1.48 per cent. L&T fell 0.47 per cent while OI added 2.2 lakh
shares. ICICI Bank dropped 1 per cent adding 4.42 lakh shares in OI.
Source: Economic times
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MMFL Limited has announced the Non-Consolidated Results for the quarter ended on 31-DEC-2008 as follows:
Net Sales of Rs.4993.95 Lakhs for the quarter ending on 31-DEC-2008 with Netprofit of 173.80 Lakhs with an EPS of 2.88 Other Income was at Rs 107.26 Lakhs and Total expenditure was Rs.4634.25 Lakhs.
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