Tuesday January 8, 12:30 PM
Tech comes back... |
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By Equitymaster.com
The markets have rebounded again on strong buying interest in software stocks. Satyam is the most active stock in both spot and derivatives market. All the three series of Nifty futures are trading at a marginal discount to the spot.
The BSE Sensex is at 3,402 (up 16 points) and the NSE Nifty is at 1,103 (up 3 points). The rupee is trading at Rs 48.28 per US dollar.
Banking stocks are in red. ICICI Bank (ICBK.BO, news) is down marginally. The bank is proposing to float a 100% banking arm in UK. The UK operation will be based in London. The focus of the branch will be on international loan syndication to the Indian and overseas clients. ICICI (ICICp.BO, news) will shift some of its staff from India and will also recruit locally.
Public sector banking stocks are up selectively. Bank of India (BOI.BO, news) is the key gainer (up 2.5%).
Hero Honda (HROH.BO, news) is attracting selling pressure at higher levels (down 3%). The company reported encouraging financial performance for the third quarter ended December 2001. Its earnings were up by 90% and sales grew by 44%. The stock touched its 52-week high of Rs 303 in the early trading session.
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