Key equity benchmarks were trading firm on Tuesday backed by record buying from foreign institutional investors (FIIs). According to data compiled by Bloomberg, FIIs bought shares worth USD 196 million on May 3, taking their net investment in 2013 to USD 11.8 billion, a record for the period.
Key gainers in the Nifty were DLF, ICICI Bank, NTPC, Lupin and ITC, up over 1.5 percent each.
Laggards included Coal India, M&M, Power Grid, Ambuja Cements and HDFC, down between 0.6-2 percent.
DLF was up 2 percent as the company is planning to sell up to 81 million shares and has mandated eight banks for the institutional placement sale, according to a term sheet seen by Reuters on Tuesday. Full article
Software service major Infosys is set to become the first out of the big five information technology (IT) software companies to enter education and training business. The stock was trading flat. Full article
Emami reported a 30 percent growth in profits to Rs 94 crore while sales rose to over Rs 450 crore. The board also recommended a bonus issue in the ratio of 1:2. The stock was up 2.5 percent.
Den Networks was trading flat after the company raised USD 110 million via preferential issue yesterday.
The rupee today lost 18 paise to Rs 54.36 against the US dollar in early trade on the Interbank Foreign Exchange due to appreciation of the American currency against the euro overseas, reported PTI.
Brent futures slipped back towards USD 105 a barrel on Tuesday as investors saw the recent surge in prices as an opportunity to sell and book profits, with concerns of an escalation in tensions in the Middle East helping to stem losses, reported Reuters.
The market opened in the positive territory while the Nifty crawled itself to the psychological 6000-mark. The Nifty was up 35.60 points at 6006.65 while the Sensex gained 118.32 points to be at 19791.96. Buying interest was seen in all the indices.
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Economy turning for sure but cant say for mkts: DSP