Bear domination continues on the bourses
Mumbai: Bears were in total control of Wednesdays trading activity. Bulls were unable to make any impact during the day's trading. None of the counters in the tradable list is in the uptrend.
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Stock market takes a hit
The critical condition of Dhirubhai Ambani, chairman, Reliance group, coupled with the sharp fall in stock prices in the overseas markets, kept the local bourses in negative territory on Wednesday.
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Heavy FII selling in tech stocks
Mumbai: There was across-the-board selling in most of the technology stocks on Wednesday. Most of the selling came from FIIs. The heavy selling was mainly due to the sharp fall in Nasdaq futures.
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Phillips Carbon gains momentum on auto revival
Mumbai: The Phillips Carbon Black Ltd stock has been making impressive gains in the recent trading sessions on the major bourses. The stock moved up to close on Wednesday at the level of Rs 25 from a level of Rs 10 early this month on the Bombay Stock Exchange.
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Consider put spreads in Nifty
Mumbai: The cash market ended the day on a negative note. On the penultimate day of the current near month contract, call options lost value. Traders who were short calls or long puts would have seen their position move in the money.
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BPCL issue may be priced at Rs 300
Mumbai: After the IPO, the stake is likely to come down further to about 57 per cent. But the government has not ruled out the possibility of bringing down its stake in BPCL even below the threshold level of 51 per cent in this company.
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