Thursday April 4, 01:30 PM
Markets move forward... |
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By Equitymaster.com
Defensive stocks in the FMCG and MNC pharma sector are attracting heavy buying interest. Selective frontline IT stocks are also in the limelight. The cost of carry on Nifty futures has however, slipped in to the negative territory. Rupee has recovered after slipping to Rs 48.92 in the morning session.
The BSE Sensex is at 3,518 (up 55 points) and the NSE Nifty is at 1,143 (up 19 points). The rupee is trading at Rs 48.88 per US dollar.
Aventis pharma (up 6%) is witnessing considerable buying interest. The company's stock price had dripped considerably over the confusion in the recent DPCO order. Apart from DPCO, what could be attracting buying interest is the launch of its international diabetes product 'Lantus' in India, early next year.
Colgate (down 8%) is witnessing profit booking after a sharp rise yesterday. The stock price of the company had touched a three year low of Rs 130 some days back. HLL is witnessing heavy buying interest ahead of its first quarter results during the month. The power brands of the company are expected to have performed well during the quarter. The stock is up 4%.
IPCL is up 7%. As per media reports, Reliance (RELI.BO, news) has been allowed to bid for IPCL divestment.
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