Friday March 22, 11:30 AM
Markets show imrpovement... |
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By Equitymaster.com
The bourses are now witnessing some buying interest. Software and auto stocks are in favour. Select FMCG and pharma stocks are also witnessing buying. There is selling in select index heavyweights. The volumes that were very dissapointing yesterday are also showing signs of improvement.
The BSE Sensex is at 3,582 (up 7 points) and the NSE Nifty is at 1,147 (up 3 points). The rupee is trading at Rs 48.76 per US dollar.
The PC prices are likley to go up in the near future. This is due to the MNC companies hiking prices across brands. The key driver behind the rise in PC prices has been the rise in memory costs. HCL (HCLL.BO, news) Infosystems that has the largest share of the PC market is up by 1.3%. Among the software stocks Infy (1.6%), Satyam (1.2%), Wipro (1.5%) and Hughes (1%) are witenssing buying. Second rung stocks like Polaris (3.2%) and VisualSoft (2%) are also in favour.
Among the FMCG stocks, ITC (ITCd.BO, news) that plans to launch its own atta in April is witnessing buying. HLL too is up marginally. However, Nestle and Dabur are out of favour. Among the index heavyeights Reliance (1%) and Reliance (RELI.BO, news) Petro (0.7%) are in the red.
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