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Tech rally
may continue, sentiment bullish
Mumbai: The
markets are expected to continue Tuesday's rally on renewed
buying in New Economy
stocks. Tech stocks are likely to surge following a sustained
rise in the US markets.
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Birla
Mutual plans two new schemes
Mumbai:
Birla Mutual Fund has said it plans to launch two equity schemes
Mid-Cap Fund and an Index
fund shortly.
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Bull
dominated tuesday's trading.
Mumbai: Bulls
were in total control of Tuesday's trading activity. Bears were
unable to make any impact during the day's trading. The market
sentiment reading of the
tradable counters continues to remain bullish.
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Block
deal takes GAIL up
Mumbai: Gas
Authority of India Ltd was buzzing with activity on Tuesday
with a huge block deal on
the BSE; 40 lakh shares changed hands in the block deal
at Rs 71 per share.
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Institutions
prop up IT stocks
Mumbai:
Technology counters seemed to heave a sigh of relief yesterday as
renewed institutional buying
propped up stock prices across-the-board. On the
Bombay Stock Exchange, the rise among frontline stocks was led by
CMC (Rs 518.05),
which gained 11.49 percent.
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Lack
of institutional support affects volumes at bourses
"Volumes have been partially affected by institutional
players, who account for
20-25 per cent of the daily volumes and from days traders, who
buy/sell in the
morning and square-off the trades before the market closes on the
same day."
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UTI
sells stake in Bajaj Hindusthan
Mumbai: Even as
the Bajajs grapple with a possible redistribution of family
assets, Unit Trust of India
(UTI) has sold about 9.50 per cent holding in the
Shishir Bajaj-controlled Bajaj Hindusthan Ltd to the promoters in
a negotiated deal.
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Overnight
gains at US markets pep up sentiment
Mumbai:
Aided by overnight buoyancy in the American stock market, domestic
market sentiment perked up
on Tuesday. After a lacklustre trading on Monday, the
Sensex managed to stage a recovery of about 25.54 points on
Tuesday to close at
3089.58.
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US
economy and markets: Improving prospects
Mumbai: On
Monday, the Dow came roaring back to within striking distance of
9,000. This happened despite
the big fall in the index of leading indicators on
the US economy released the same day.
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Re
firms up; gilts bullish
Mumbai: THE rupee
closed slightly higher on Tuesday at 48.5650/57 as compared
to Monday's close of 48.5850 in a volatile forex market. Dollars
supplies were seen to be
good and plenty of selling of the greenback was noticed.
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