President Pranab Mukherjee, prime minister Manmohan Singh and a host of political leaders condoled the death of the girl and paid rich tributes to the victim for her brave fight
The indices have spent many weeks in a narrow band. A big move is likely, even if it is for a few days
Buying in oil & gas stocks after the government announced its intention to increase diesel and kerosene prices in a staggered manner resulted in the market closing near the day’s high. The indices have spent many weeks in a narrow band. A big move is likely, even if it is for a few days. The National Stock Exchange (NSE) reported a volume of 67.44 crore shares and advance-decline ratio of 867:838.
The market opened on a firm note on gains in power, auto and oil & gas stocks and support form its Asian peers, which were in the green in morning trade. However, the inability of the US policymakers to find a solution to the “fiscal cliff” was a matter of concern.
The Nifty opened 17 points up at 5,887 and the Sensex started off at 19,364, a gain of 40 points over its previous close. The market touched its intraday low in initial trade itself with the Nifty falling to 5,882 and the Sensex going back to 19,346.
All-round buying saw the benchmarks gaining strength in early trade on buying in oil & gas, power, capital goods and IT stocks. Although on selling pressure from banks and capital goods sectors resulted in the indices paring their gains in subsequent trade, they were still in the positive terrain.
The market slipped further in afternoon trade as the key European indices, after opening in the positive, slipped into the red. However, late buying in oil & gas stocks pushed the benchmarks to their highs. At the highs the Nifty rose to 5,916 and the Sensex climbed to 19,466.
The market closed near the highs with the Nifty gaining 38 points (0.65%) to 5,908 and the Sensex advancing 121 points (0.63%) to settle at 19,445.
Among the broader markets, the BSE Mid-cap index gained 0.79% and the BSE Small-cap index rose 0.28%.
BSE Healthcare (down 0.19%) and BSE Bankex (down 0.01%) were the only losers in the sectoral space today. The gainers were led by BSE Oil & Gas (up 2.38%); BSE IT (up 1.21%); BSE PSU (up 0.89%); BSE TECk (up 0.87%) and BSE Consumer Durables (up 0.75%).
Twenty two of the 30 stocks on the Sensex closed in the positive. The chief gainers were Reliance Industries (up 2.73%); ONGC (up 2.49%); Sterlite Industries (up 2.28%); Infosys (up 1.38%) and Hero MotoCorp (up 1.35%). The main losers were Sun Pharmaceutical Industries (down 1.05%); Mahindra & Mahindra (down 0.70%); Tata Steel (down 0.59%); State Bank of India (down 0.46%) and HDFC Bank (down 0.35%).
The top two A Group gainers on the BSE were—Suzlon Energy (up 7.52%) and Pantaloon Retail India (up 6.95%).
The top two A Group losers on the BSE were—Piramal Enterprises (down 2.05%) and Bayer CropScience (down 1.74%).
The top two B Group gainers on the BSE were—Aftek (up 19.95%) and Noida Medicare Centre (up 19.81%).
The top two B Group losers on the BSE were—Eurotex Industries & Exports (down 11.63%) and Alps Industries (down 10.78%).
Out of the 50 stocks listed on the Nifty, 35 stocks settled in the positive. The main gainers were RIL (up 3.22%); ONGC (up 2.93%); BPCL (up 2.46%); Wipro (up 1.70%) and Infosys (up 1.54%). The key losers were Axis Bank (down 0.69%); SBI (down 0.65%); M&M (down 0.60%); HDFC Bank (down 0.57%) and Sun Pharma (down 0.54%).
Markets in Asia closed with gains as reports indicated that core consumer prices in Japan fell 0.1% in November from a year earlier, making a case for prime minister Shinzo Abe to implement additional economic reforms. Hopes of a last-minute solution to sew a budget deal in the US also supported the gains.
The Shanghai Composite surged 1.24%; the Hang Seng rose 0.21%; the Jakarta Composite climbed 0.81%; the KLSE Composite gained 0.43%; the Nikkei 225 advanced 0.70%; the Straits Times rose 0.25%; the Seoul Composite was 0.49% higher and the Taiwan Weighted settled 0.67% higher.
At the time of writing, the key European indices were trading between 0.17% and 0.71% lower and the US stock futures were lower, indicating a subdued opening for US stocks.
Back home, withdrawals by foreign institutional investors were offset by inflows from domestic institutional investors on Thursday. While FIIs were net sellers of stock totalling Rs132.68 crore, DIIs were net buyers of equities totalling Rs132.77 crore.
EPC firm Tecpro Systems has got a Rs267.3 crore order from an NTPC subsidiary for supply of the entire coal handling plant package for its Muzaffarpur plant. Right from designing to commissioning, Tecpro will do the entire coal handling project for the 2X195 MW plant. However, no execution timeline was given. The stock declined 0.57% to close at Rs149.10 on the NSE.
HCL Infosystems on Thursday said the company will expand its presence in West Asia and Africa, especially for products like tablet computers over the next one year. The company, which is currently present in South Africa, wants to expand its operations to around 12 countries including Nigeria, Kenya, Rwanda, Tanzania, Uganda and Egypt. In West Asia, it is keen to spread its wings to Kuwait, Jordan, Bahrain and Saudi Arabia. The stock was unchanged from its previous close at Rs37.85 on the NSE.
Cholamandalam Investment and Finance Company on Thursday said its board has approved raising Rs300 crore in capital through an issue of securities. The board of directors at a meeting has approved raising capital by an issue of securities in one or more trenches, through private placement including QIP, the company informed the exchanges. The stock declined 0.43% to close at Rs268.85 on the NSE.
The initiative undertaken is “to minimise instances of registration of bogus or misleading addresses as registered office of companies”, the ministry of corporate affairs said in a public notice
New Delhi: The ministry of corporate affairs (MCA) has asked companies to rectify any mistake with regard to the address of their respective registered office by June next year, reports PTI.
This initiative has been undertaken “to minimise instances of registration of bogus or misleading addresses as registered office of companies”, MCA said in a public notice.
In a circular dated 21st December, the ministry has asked the corporates to avail this opportunity to “rectify any mistake” within a period of 180 days from the effective date.
“All professionals and corporates are requested to be more vigilant and be careful in certification and verification in the forms to avoid penal action,” the public notice said.
To minimise instances of misleading addresses, the ministry has made certain changes, as per which details of the address of the registered office and proof of registered office address have to be mandatorily attached.
Moreover, the new forms will contain provisions for certification by professionals endorsing the identity such as photographs and attached documents in this regard.