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Key equity benchmarks ended a promising trade, albeit still at 2-year highs, on a flat note.
The star of the session was Mukesh Ambani-led Reliance Industries closing up 2.35 percent. Earlier in the session, Reliance hit its highest level since June 10, 2011 after beating expectations with a 24 percent increase in third-quarter net profit.
BHEL gained 2 percent at Rs 231 after it said it has achieved a significant milestone in Africa with the successful commissioning of its first Steam Turbine Generator (STG) Unit in Ethiopia. The stock ends at Rs231, up Rs5.10. The stock has hit a high of Rs233 and a low of Rs226.
Budget carrier SpiceJet swung to a quarterly profit on Monday, aided by higher fares, sending its shares up as much as 7.6 percent. SpiceJet earned Rs 1.02 billion in October-December, compared with a net loss of Rs 392.6 million in the year-ago quarter.
SpiceJet said average passenger yields rose 29 percent in the latest quarter, a period that saw Kingfisher Airlines grounding its fleet. A rise in passenger yields reflects higher airfares.
Kingfisher was also in the news, but for the wrong reasons, as sources said that former debt-ridden airlines’ passengers have sent a notice to the Vijay Mallya-led firm. The stock was down 4.93 percent today.
Hindustan Unilever shares closed up 1.6 percent ahead of October-December earnings on Tuesday.
Shares in Mahindra & Mahindra fell 1.4 percent after a newspaper reported that the government might impose a higher excise duty or a surcharge on diesel sports utility vehicles, citing an unnamed finance ministry official.
TCS, Coal India, Tata Steel, Bajaj Auto, Tata Motors, NTPC, HDFC Bank, Sun Pharma were among losers in Sensex and Nifty.
Capital Goods, Oil and Gas, FMCG, Power, Consumer Durables indices are the gainers.
Bankex, IT, Healthcare, Realty, Metal, PSU indices are the losers.
The rupee today rose by six paise to 53.65 against the dollar
The market seems to be stuck in the 20000 levels today. With an extremely slow pace, the Sensex is up 37.50 points at 20076.54 while the Nifty up 10.85 points at 6075.25.
The Sensex up around 40 points at 20079; the benchmark is down around 80 points from its highest point of the day. The Nifty up 5.25 points or 0.09% at 6069.65.
Not much of movement was seen in the stock market as heavyweights like Reliance and Bhel continue to lead the surge. The Sensex was up 72.48 points or 0.36% at 20111.52, while the Nifty gained 12.65 points or 0.21% at 6077.05.
Key indices continued their climb in early trade Monday, as the third quarter earnings season so far has turned out to be better-than-expected. Reliance Industries shares were up over 4 percent to Rs 938 after the company’s quarterly numbers announced post-market hours Friday beat analyst estimates by a wide margin.
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