Monday May 6, 11:30 AM
Gujarat takes toll... |
|
By Equitymaster.com
The stocks markets are once again witnessing a lull. The fresh round of violence in Gujarat, over the weekend, seems to have taken a toll on the volumes. There is selective buying in banking, Oil PSUs and index heavyweights. Technology stocks are out of favour.
The BSE Sensex closed at 3,386 (up 5 points) and the NSE Nifty closed at 1,099 (up 2 points). The rupee was trading at Rs 48.98 per US dollar.
Wipro (WIPRd.BO, news) has announced the commercial availability of its high-speed Universal Serial Bus (USB) 2.0 technology. The technology will enable high-speed data transfer between personal computers (PCs), high performance peripherals and broadband Internet services. The high speed of data transfer will enable better quality of video capture and video editing as well as faster storage. Considering the fact that the Internet will widely be used to transfer real time audio and video in the future, the technology is likely to find many takers. The stock is however down by 0.8%. Infosys and Satyam are also out of favour.
ICICI Bank (ICBK.BO, news) is in talks with FleetBoston Financial, US, to sell a part of the 16% stake held by ICICI (ICIC.BO, news) in the Bank. Fleet Boston is the seventh largest financial holding company in the US. ICICI Bank is up by 1.9% and ICICI is up by 1.3%. Other banking stocks in favour include SBI, Corporation Bank and Oriental Bank (ORBC.BO, news) .
|
