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Sensex, Nifty rangebound; Tata Motors, MM, ONGC gainers

Shares of Tata Motors, Mahindra & Mahindra, ONGC, HUL, NTPC, Dr Reddy’s Labs, Cipla, Tata Steel and GAIL gained 1-2 percent whereas BHEL falls 2 percent. Index heavyweights like Infosys, Reliance Industries, HDFC and ITC declined marginally.

12:13

The News International Team

Sensex, Nifty rangebound; Tata Motors, M&M, ONGC gainers

The market continued to be in a narrow range. The Sensex advanced 67.95 points to 28329.03 and the Nifty rose 18.70 points to 8589.60 whereas the BSE Midcap and Smallcap indices lost 0.3-0.6 percent.

About 909 shares have advanced, 1552 shares declined, and 191 shares are unchanged on the Bombay Stock Exchange.

Shares of Tata Motors, Mahindra & Mahindra, ONGC, HUL, NTPC, Dr Reddy’s Labs, Cipla, Tata Steel and GAIL gained 1-2 percent whereas BHEL falls 2 percent. Index heavyweights like Infosys, Reliance Industries, HDFC and ITC declined marginally.
 
JSPL tumbled 9 percent as government rejected bids for its Gare Palma IV 2 and 3 as well as the Tara coal block. The management told CNBC-TV18 that the company is shocked with the government’s decision and believes that their bids were very competitive. CNBC-TV18 learnt that the Delhi High Court agreed to hear company’s plea with respect to cancellation of the 3 coal block bids.

Usha Martin spiked close to 14 percent as the government accepted bids for Brinda and Sasai coal block won by company. Hindalco Industries rallied 2.5 percent as the government accepted bids for Dumri coal block won by the company.

Sun Pharma gained 1.8 percent as the US Federal Trade Commission passed final order on Sun Pharma-Ranbaxy merger deal. However, there is setback for Glenmark, which lost 1.7 percent as the Delhi High Court restrained the company from manufacturing and marketing its anti-diabetic drugs Zita & Zita Met.

Globally, Asian markets remained mostly higher. Nikkei and Shanghai traded at multi-year highs following a pullback in US dollar. In commodities, Brent crude slipped to USD 54 per barrel.

11:00

Sensex flat, Midcap falls; Sesa Sterlite, Glenmark decline

Sesa Sterlite too declined 0.4 percent, reacting to similar reasons. The government rejected BALCO’s bid for for Gare Palma IV/1 which was at Rs 1585 per tonne.

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10:00

Sensex, Nifty volatile; Bharti up 2%, Usha Martin soars 15%Read More »

The market remained volatile with the Nifty moving in a range of 8550-8600. Telecom, oil, FMCG, pharma and select private banks gained.

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09:15

Sensex, Nifty erase early gains; JSPL tanks 13%Read More »

Jindal Steel tanked 13 percent as sources told CNBC-TV18 that government rejected company’s bids for coal blocks.

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