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Sensex, Nifty firm; Hero Motocorp, ONGC, BHEL lead gainers

Aug 28, 2014, 02.27 PM IST | Source: Moneycontrol.com

Hero Motocorp, BPCL, ONGC and BHEL topped the buying list in Nifty 50, up 2-3 percent followed by IDFC, GAIL, Wipro, ICICI Bank, Tata Motors, Sesa Sterlite and Dr Reddy’s Labs with 1-1.8 percent.

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Sensex, Nifty firm; Hero Motocorp, ONGC, BHEL lead gainers

Hero Motocorp, BPCL, ONGC and BHEL topped the buying list in Nifty 50, up 2-3 percent followed by IDFC, GAIL, Wipro, ICICI Bank, Tata Motors, Sesa Sterlite and Dr Reddy’s Labs with 1-1.8 percent.

14:00

The News International Team

02:20pm Govt notifies new law empowering SEBI

The government has notified a new law empowering the capital market regulator to pass orders for attachment of properties, arrest of defaulters and to access call data records.

The Securities Laws Amendment Act, which was cleared by Parliament earlier this month and amends all legislations governing capital markets, would also facilitate setting up of a special Sebi court to fast-track the investigation and prosecution process, including by granting approval for search and seizure operations in suspected cases of frauds.

The Act, which has come into force through a gazette notification dated August 25, is part of the government and regulators’ efforts to tighten the noose around fraudsters in the wake of several cases of illicit money-pooling activities including by ponzi operators in various parts of the country.

The new Act has as many as 57 clauses to amend various sections of the Sebi Act and two other related legislations, reports PTI.

02:00pm The 50-share NSE Nifty managed to hold the 7950 level in afternoon trade and is heading towards closing at new high on expiry day today. The index rose 19.20 points to 7955.25 while the Sensex gained 72.56 points at 26632.71.

Gautam Chhaochharia, Head of India Research at UBS Securities, who was among the first to set Nifty target of 8000 for 2014-end, said the 50-share index has the potential to overshoot the mark.

He sees a 15-16 percent earnings growth in the medium term (over the next 2 years).

Hero Motocorp, BPCL, ONGC and BHEL topped the buying list in Nifty 50, up 2-3 percent followed by IDFC, GAIL, Wipro, ICICI Bank, Tata Motors, Sesa Sterlite and Dr Reddy’s Labs with 1-1.8 percent.

However, the selling pressure continued in Infosys, State Bank of India, Axis Bank, TCS, Sun Pharma, NTPC, Tata Steel, Tata Power and Hindalco Industries, which declined 0.5-1 percent.

Among midcaps, ESS DEE Aluminium shot up 17 percent followed by Balkrishna Industries, Linde India and GMDC with 5-6 percent whereas IOB, Prism Cement, PS IT Infra, Bhushan Steel and Havells India lost 4-5 percent.

13:00

Sensex, Nifty steady; PSU banks under pressure, BPCL up 2%

PSU banks continued to see selling pressure with the top lender State Bank of India falling 1 percent after sources say the Economic Offence Wing (EOW) Mumbai is probing role of public sector banks relating to the fixed deposit (FD) scam.

Read More »

12:00

Sensex, Nifty remain in positive terrain; SBI, Infosys slipRead More »

Shares of Tata Motors, ICICI Bank, L&T, ONGC, HDFC, Sesa Sterlite, Reliance Industries, ITC and GAIL were top contributors to the Sensex, up 0.3-1.8 percent. However, Infosys, SBI, TCS, Sun Pharma, Cipla, NTPC, Tata Power and Tata Steel fell 0.4-1 percent.

Read More »

11:00

Nifty holds 7950; DLF slips further, rail stocks in demandRead More »

According to CK Narayan, founder and CEO, Growth Avenues, the way the evidence is shaping up on the charts of the indices as well as prominent stocks most definitely confirms that good times ought to continue.

Read More »

10:00

Sensex at record high; ICICI, Tata Motors, L&T lead gainersRead More »

Top private sector lender ICICI Bank, commercial vehicle maker Tata Motors, engineering and construction major L&T, state-run GAIL and BHEL advanced over a percent. Shares of HDFC, HDFC Bank, ONGC, Reliance Industries, Wipro, HUL, Axis Bank and Bajaj Auto climbed 0.5-1 percent.

Read More »

09:15

Sensex extends gains, Nifty reclaims 7950 on F&O expiry dayRead More »

Shares of Larsen and Toubro, ICICI Bank, Axis Bank, Bharti Airtel, Bajaj Auto, Cairn India, BPCL and HCL Technologies gained 0.8-0.9 percent. However, Hero Motocorp, Hindalco Industries, Sun Pharma, Infosys, ONGC and TCS fell 0.2-0.7 percent.

Read More »

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