Thursday March 14, 10:30 AM
Renewed buying interest... |
|
By Equitymaster.com
The markets have opened on a firm note this morning. Volumes are concentrated around software and pharma stocks. Frontline software stocks are in demand ignoring the weak trend on the NASDAQ. Easing of concern for Ayodhya issue has infused buying interest in the markets.
The BSE Sensex is at 3,589 (up 19 points) and the NSE Nifty is at 1,162 (up 5 points). The rupee is trading at Rs 48.73 per US dollar.
IDBI Bank (IDBK.BO, news) has flared up sharply in the early trading (up 5%). Its parent IDBI (IDBI.BO, news) has indicated that it will not merge with the bank. This will enable IDBI Bank to sell strategic stake of about 26% to the foreign partner to bring down the parent's stake in the bank to 40%.
Wipro (WIPRd.BO, news) is one of the prominent gainer among the software stocks. The company has entered into an agreement with Texas Instruments to write software applications for new generation mobile phones and other wireless equipments. Texas Instruments expects to make available features including multimedia messaging, digital camera, Internet access and mobile commerce on this advanced mobile equipment.
|
