Monday February 18, 02:30 PM
HLL, Reliance perk... |
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By Equitymaster.com
The bourses have regained some ground in the past hour. Index pivotals are strong and aiding market sentiment. However, software continues to be weak. PSUs too, are in the red. Banking stocks meanwhile, continue to chug upwards.
The BSE Sensex is at 3,616 (up 14 points) and the NSE Nifty is at 1,165 (up 5 points). The rupee is trading at Rs 48.64 per US dollar.
Private banks are having a field day. With 49% FDI allowed in private sector banks, all counters have surged since morning. ICICI Bank (ICBK.BO, news) , HDFC Bank (HDBK.BO, news) , Federal Bank (FED.BO, news) , Vysya Bank (VYSA.BO, news) , UTI Bank (UTBK.BO, news) and GTB, all are up significantly. However, PSU Banks like BOI, Corporation Bank and SBI are in the red.
Strength in index pivotals like HLL, Reliance (RELI.BO, news) and ITC (ITCd.BO, news) has further aided market sentiment. Spurt in Ranbaxy and Zee is another reason for the bourses gains. Except Grasim, cement counters are lacklustre today.
However, profit taking in PSUs and weakness in software sector has hindered the bourses from posting significant gains. Pivotals like Infosys, Satyam, Digital and Wipro (WIPRd.BO, news) are in the red. Among PSUs the scene is no different. The losers are VSNL, BPCL, HPCL, Bhel (BHEL.BO, news) , Gail (GAIL.BO, news) , Hindustan Zinc, IOC, IPCL, MTNL (MTNL.BO, news) and ONGC.
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