Markets on 18th
Market closed with marginal gains
The Indian market closed with marginal gains after presenting a good show but a lot of volatility was witnessed during the trading session. The market gave up most of its gains as the profit booking across the counters prevailed. Though the market opened almost on a flat note but gathered the momentum towards the mid session as the buying intensified across the counters. From the sectoral point, Capital goods and Realty scrips remained the centre of attraction as most buying was witnessed from theses baskets. The BSE Sensex closed higher by 23.97 points at 14,833.46 and NSE Nifty grew by 29.9 points to close 4533. However, the Mid Caps and Small Caps remained out of favor as most selling was witnessed from these counters to close lower by 90.44 points and 157.03 points at 6,033.91 and 7,365.20 respectively. The market breadth turned weak as 1918 stocks closed in red as against 749 stocks that closed in green.
As regards global markets, while the Asian indices closed in the green, the European indices are witnessing a positive trend currently.
The Sensex formed an inverted "U" as it rose steadily during the second half of the trading session but reversed right back to yesterday's closing levels by the final hours. Both the BSE midcap, as well as the BSE smallcap index closed lower by 2%. DLF (up 5%) and HUL (up 4%) led the pack of gainers, while Jaiprakash Associates (down 4%) and Tata Steel (down 3%) featured among the key losers.
Ranbaxy has entered into an exclusive in-licensing agreement with CD Pharma to market the INERSAN brand in India and Nepal. The patented product, a probiotic preparation, is used for the treatment of dental problems such as Periodontitis, Gingivitis and Halitosis. These are common dental problems, which if ignored, can lead to more serious complications. Dental practitioners in India currently do not have any specialized prescription product for these conditions. INERSAN shall be the first-of-its-kind to be introduced in India. This is a positive development for the company as it consolidates its position in the dental segment. Ranbaxy closed higher by 4%, while its peer Dr. Reddy's ended 2% higher.
L&T's heavy engineering division has bagged a contract valued at Euro 28 m for supplying the coal gasifier and syngas cooler assembly to Hebi Coal and Electricity, a subsidiary of Zhongyuan Coal Chemical Industry Group, China. The structure, which is expected to weigh 1,740 MT, will be the world's largest and heaviest gasifier assembly and will form the heart of a methanol plant with a capacity of 600,000 tonnes per annum. The equipment will be manufactured from advanced technology steels at L&T's manufacturing facilities at Powai & Hazira. The Hazira facilities are situated on the waterfront with easy access to the sea for ease of shipment. It may be noted that at the end of December 2007, the order backlog for the E&C segment stood at Rs 476 bn, almost 3.5 times the segment's FY07 revenues. L&T ended higher by 3%, while its peer BHEL closed higher by 4%.
Source - Religare
0 comments:
Post a Comment