Today Stock Market Wrap Up News

24 Jan 4

End of Nifty above 8,600; Reliance, L&T gain nearly 2 per cent:

The market stay maximum in trade for the 2nd continually session with the 50-share National Stock Exchange (NSE) Nifty closing above 8600 level, again led by bank stocks.

The index climbed 61.85 points to 8627.40 while the 30-share Bombay Stock Exchange (BSE) Sensex rose 178.35 points to 28533.97. The stock markets broader excellent perform benchmarks with the Bombay Stock Exchange (BSE) Midcap and Smallcap indices increasing 1.5 % each.

GAINERS:

ICICI Bank gained over 1 per cent. ICICI Bank, has launched an e-wallet called ‘Pockets’ which is a mobile application, and can be used to book movie tickets, send money, pay utility bills, send gifts and share expenses. With Pockets, the ICIC bank plans to target the segment of youth and this is first-time to launched banking customers.

L&T gained 2.2 per cent. A group between Tata Power and L&T has been chosen for a defense project worth Rs 40,000-50-000 crore in which the MoD (Ministry of Defence) will fund 2 Indian consortia. The other chosen consortium is between BEL (Bharat Electronics Ltd) and Rolta. Tata Power ended up 0.8 per cent.

RIL gained around 2 per cent. The company has slapped a judgment of an arbitrator notice challenging oil ministry’s decision to take away 814 square kilometer of its eastern offshore KG-D6 area that contained 5 gas discoveries.

Sun Pharma gained 1.1 per cent after its unit Taro reported tough results of Q3. Sun Pharma will release its quarterly results on 14 February, 2015.  Other key pharma stocks like Cipla, down 1 per cent and Dr Reddys Lab, up 1 per cent ended mixed.

Asian Paints Shares were go up 2 per cent at Rs 838 after the company today (11 Feb) said that its Singapore-based subsidiary has acquired majority stake in Ethopian firm Kadisco.

Shares of RIL gains 2 per cent after it joined hands with Facebook Inc to give free access to 33 websites in order to garner a customer base and wider audience. The idea to encourage more people to use the Internet.

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