Tuesday February 26, 01:30 PM
Markets inch up further... |
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By Equitymaster.com
Ignoring concerns over poor performance of BJP in the state elections, markets are marching ahead. Heavy buying in index heavyweights is visible. Markets are eagerly waiting to take a cue from the railway budget, which is expected soon.
The BSE Sensex is at 3,664 (up 50 points) and the NSE Nifty is at 1,179 (up 14 points). The rupee is trading at Rs 48.77 per US dollar.
Cement stocks are trading flat, ahead of the railway budget, which will declare the change in freight rates. Markets are not expecting railway freight rates to go up on cement transportation. Grasim is trading strong and is up 2%.
Dr. Reddy (REDY.BO, news) 's is up 3%. According to one leading brokerage house, the company is likely to get Para IV approval for marketing Amlodipine, Pfizer (PFIZ.BO, news) 's billion-dollar cardiovascular product much ahead than expected. Other Pharma stocks are also gaining buying interest. Nicholas Piramal (up 6%), Novartis (up 2%), Glaxo (up 2%) and Lupin (up 2%) are among the major gainers.
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