Sensex recovers 71 more
Mumbai: At close, the BSE Sensex gained 71.11 points at 5757.30 and on NSE the S&P CNX Nifty closed at 1833.10, up 23.21 points.

Market Gainers
National Aluminium (5.31 per cent), Mahindra & Mahindra (4.40 per cent), Hindalco (4.36 per cent), Oriental Bank of Commerce (3.92 per cent), Grasim Industries (3.6 per cent), Bank of Baroda (11.81 per cent), Tata Teleservices (9.50 per cent), Wockhardt (9.42 per cent), Bharat Forge (5.57 per cent) Canara Bank (5.10 per cent), Bank of Baroda, Bank of Rajasthan, Essar Steel, Bhushan Steel, Mahindra Ugine, Rama Newsprint, Orient Paper, iGate Global, Essar Steel (10.5 per cent), Bhushan Steel (9.1 per cent), West Coast Paper (3.93 per cent)

Market Losers
Cipla (1.60 per cent), BHEL (1.34 per cent), ITC (0.95 per cent), Wipro (0.88 per cent), HDFC (0.64 per cent), Moser Baer (3.75 per cent), IDBI (1.92 per cent), Punjab Tractors (1.64 per cent), Cummins India (1.59 per cent), IBP (0.85 per cent), Texmaco, India Cements, Bajaj Hindusthan, Sakthi Sugars, Dai-ichi Karkaria, Moser Baer, Thiru Arooran Sugars, Asahi India

Market Counters
BSE 30
ACC at 289.50 down -0.25
Bajaj Auto at 934.35 +2.20
Bharti Televentures at 174.40+1.40
BHEL at 578.95 -7.35
Cipla at 1,352.60 -21.45
Dr Reddy at 886.50 +11.10
GACL at 345.50 +6.40
Grasim at 1,232.05 +44.80
HDFC at 645.00 -0.15
HDFC Bank at 382.95 +0.85
Hero Honda at 492.25 +11.20
Hindalco at 1,144.90 +48.75
HLL at 145.75 +2.85
HPCL at 471.80 +8.40
ICICI Bank at 304.20 +2.60
Infosys at 5,299.90 +39.40
ITC at 1,051.00 -4.80
L&T at 595.70 +12.30
MTNL at 150.85 +2.50
ONGC at 862.15 +14.40
Ranbaxy at 1,051.15 +11.05
Reliance at 540.70 +10.85
Satyam at 329.05+4.10
SBI at 655.70 +13.10
Tata Motors at 484.55 +2.35
Tata Power at 390.05 +8.35
TISCO at 366.30 +11.30
Wipro at 1,592.90 -12.30
Zee Tele at 131.85 +1.25

Others
Bank of Baroda up 11.8 per cent to close at Rs.251.20
Bank of Rajasthan up 11.6 per cent to close at Rs 50.6
Mahindra Ugine up 19.19 per cent to close at Rs 29.5
iGate Global gained to close at Rs 246.05
Asian Electronics up 18.9 per cent to close at Rs. 65.05
Ballarpur Industries up 5.04 per cent at Rs 75
Tamil Nadu Newsprint up 5.95 per cent at Rs 70.35
Rama Newsprint up 19.94 per cent at Rs 11.13
Orient Paper up 17.69 per cent at Rs 61.20
Seshasayee Paper up 9.98 per cent at Rs 94.25
Star Paper up 9.98 per cent at Rs 30.85
Pudumjee Pulp up 9.88 per cent at Rs 32.25
IndusInd Bank up 7.3 per cent to close at Rs 59.55
IPCL closed at Rs 183.50
Mahindra & Mahindra up 4.5 per cent to Rs 493.30
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UTI AMC launches Axel
Mumbai: UTI Asset Management Company has launched a portfolio management service for high net worth individuals and corporates. The wealth management division, named `Axel' would offer investment services and execution of transactions across equity and fixed income securities market. The minimum investment limit for availing this service is Rs 25 lakh. In the initial stages, Axel would offer only discretionary portfolio services.

This indicates that the portfolio manager would make the investment decisions and the investor has no choice in deciding where his money should be invested. The scheme offers two options for investors. One is to avail the fixed fee service, which would charge a flat 2.5 per cent of the portfolio. The second option is to pay a fixed fee of 1.5 per cent and a variable fee of 10 per cent of the annual returns of the portfolio. Axel estimates the current market between Rs 2000 crore and Rs 4000 crore and has set a target of 100 customers and 15% market share for the first year.
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