It was a day of roller-coaster moves for the indices as
the frontline stocks saw very high volatility. After opening
with good gains, both frontline indices slumped more than
a per cent each in mid-morning trades. They started a
steady recovery soon after, which lasted till the end
of the session.
closed with gains of 117 points at 13731 and the Nifty
gained 40 points to end at 3929. Nifty December futures
closed at a premium of 5 points to the spot index.
rally was led from the front by ONGC, which was helped
by reports of a major gas find. The stock was up more
than 5 per cent in morning trades before giving up part
of the gains. Afternoon saw another rally which helped
the stock to finally end 4.17 per cent higher
Industries also did well to end 2.82 per cent higher.
Gail India added 3.89 per cent.
Power was the best performer among index stocks, rallying
5.81 per cent on reports that the company is the lowest
bidder for one of the ultra-mega power projects
added 4.13 per cent on reports of government assistance
for its research programme. Glaxo closed 3.01 per cent
Motors closed 4.01 per cent higher after the company announced
a JV in Thailand
stocks continued the rally from Friday, led by SAIL which
gained 2.0 per cent. Nalco added 2.46 per cent
was the best performer among tech stocks, rallying 2.89
saw a sell-off in afternoon trades and was the biggest
loser among index stocks, closing 4.37 per cent lower
Entertainment, the entity after the de-merger of news
business, DTH and cable distribution, started trading
today and ended at Rs272.35
recovered from its early lows, but ended 1.88 per cent
Airways continued its decline and lost 1.74 per cent
Energy lost 1.25 per cent as the company has not been
successful in its bids for ultra-mega power projects
lost 1.01 per cent even as other metal stocks rallied
Dabur, Sun Pharma and HPCL were the other major losers
markets / crude oil
Asian markets were mostly firm, helped by the gains in
US indices and the modest correction in oil prices. Shanghai
soared 2.5 per cent, continuing its out-performance in
the region. Singapore gained 1.1 per cent while South
Korea added more than 0.8 per cent. Hong Kong ended with
gains of over 0.4 per cent while Japan added nearly 0.3
the losers, Thailand lost nearly 0.8 per cent and Malaysia
ended 0.7 per cent lower. Indonesia closed 0.25 per cent
markets opened firm but have given up part of their gains.
Major indices are trading with gains of between 0.1 and
0.5 per cent each in early afternoon trades.
oil prices have corrected modestly after last week's rally.
Near month NUMEX futures has lost over 0.5 per cent and
is trading close to $63 per barrel in European trades
has discovered gas reserves in some of the offshore
blocks in the west coast, according to unconfirmed reports.
The finds may contain up to 21 trillion cubic feet of
in-place gas reserves, according to reports.
Power has reportedly emerged as the lowest bidder
for the 4,000 MW Mundra ultra-mega power project in
Gujarat. A consortium led by Lanco Infratech is the
lowest bidder for the Sasan project in Madhya Pradesh
Motors has formed a JV in Thailand to assemble and
market pickup trucks. The company would hold a 70 per
cent stake in the venture, but investment and volume
details have not been disclosed
would receive financial assistance in the form of soft
loans from the government for new drug discovery research
is planning an aluminium smelter in Indonesia, according
to unconfirmed reports
would provide JD Edwards ERP solutions to mid-size domestic
has acquired the technology to offer a more emission-free
and small caps also declined after a firm start, before
attempting a recovery in afternoon trades. However, they
missed out on the last hour rally in large caps.
CNX Mid-Cap index ended just one point lower at 5010.
BSE mid-cap index gained 0.05 per cent and the BSE small
cap index ended with gains of 0.58 per cent.
mid-cap technology and related stocks continued to rally
ahead today. Sonata Software, Softpro Solutions, Teledata
and RS Software were all locked in 10 per cent upper circuits.
Goldstone Technologies, which gained 80 per cent last
week, was locked in the 10 per cent upper circuit today
Ericsson was locked in 20 per cent upper circuit while
RPG Cables, Parekh Aluminex and Vivimed Labs all closed
in the 10 per cent upper circuits
Overseas had a weak listing today. Issue at Rs56 per share,
the stock opened at Rs60 on the NSE and saw a low of Rs51.25.
It finally ended at Rs52.3 per share.
Textiles, Simbhaoli Sugar, Sandesh, Madhucon Projects,
RPG Life, DCM, Khaitan Limited, Shree Cement and NEPC
India were among the major mid-cap losers.
raise $200 million from an overseas issue besides raising
FII investment limit to 100 per cent
has raised Rs555 crore from a QIP issue at a price of
Rs370 per share
raised Rs200 crore from an issue of subordinated tier-II
said its parent company has informed its willingness
to buy out the minority shareholders, who now hold nearly
17 per cent of the company, through an open offer at
a price not exceeding Rs380 per share
has won a new order from a Dutch company for an offshore
supply vessel worth €16.54 million
said one of its subsidiaries has acquired an unidentified
Dubai-based company for an undisclosed sum, and has
opened a branch office of the company there
Heidelberg Cement is going ahead with the earlier announced
open offer at Rs58 per share, which would open on 27
December. Heidelberg would pay an additional Rs14.5
per share if it is unsuccessful in its appeal against
a SEBI order to pay a higher price
invest Rs300 crore for diversification into ethanol
production and power generation at its units
has taken delivery of a second hand container vessel
with a capacity of 1,300 teu
Overseas Finance has received High Court approval
for the merger with Shriram Transport Finance
would sell the assets of its closed manufacturing units
in Andhra Pradesh
Industries is considering a rights issue of equity
received work orders worth Rs21.5 crore for design,
supply and commissioning of electrical sub-stations
would raise FII investment limit to 100 per cent
equal JV between Unity Infraprojects and Pratibha
Industries has won an order for setting up a water
supply scheme worth Rs94 crore
board of KPIT Cummins would meet next week to
consider a bonus issue and stock split
acquired 2 companies based in the US and UK for undisclosed
set up a new research centre in Bangalore for telecom
has reportedly received €25 million as milestone
payment from Merck, under a licensing agreement for
a drug discovered by the company
would set up a subsidiary in Singapore