Dow closes 103 points up
New York:US stocks rallied on Friday, capping a second straight week of gains, as the expiration of February options and hopes that war may be averted helped push share prices higher.
"There was some unwinding going on that caused that late rally. It's not unusual to see the market move on expiration day because there's arbitrage that needs to be unwound," said Todd Clark, head of listed trading at Wells Fargo Securities.
Helping to fuel the rally was the simultaneous expiration.
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SAT relief to Clariant on Colour-Chem open offfer
Mumbai: The Securities Appellate Tribunal (SAT) today gave some relief to the Swiss multinational Clariant International on payment of interest at the time of making an open offer to the shareholders of Colour-Chem Ltd.
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Momentum buying in Oriental Bank
Mumbai:Value buying in Oriental Bank of Commerce sent its volumes soaring on the bourses today. Brokers said that the counter attracted sustained market interest on account that it is a "low PE with high dividend play' stock. The stock ended the day at Rs 60.30 with around 3.73 lakh shares traded on the BSE. On the NSE, the stock closed at Rs 60.45 with around 8.48 lakh shares traded. Of the traded shares, 40.49 per cent was up for delivery on the BSE and 39.67 per cent on the NSE.
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Institutional support lifts Reliance
Mumbai:Reliance Industries witnessed keen interest from institutions, particularly foreign institutional investors. According to market sources, several operators are also said to have bought into the stock. Reliance Infocomm is expected to make a big splash into the fixed line telephony market as well in the next few months and analysts expect the venture to give a further fillip to the stock. Reliance Industries holds about 49 per cent in Reliance Infocomm.
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