Nifty turns choppy after 2-day rally; SAIL, Bharti gain
Published on Thu, Mar 18, 2010 at 08:59 | Source : Moneycontrol.com
Updated at Thu, Mar 18, 2010 at 10:28
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Nifty turns choppy after 2-day rally; SAIL, Bharti gain
The benchmark Nifty started the day on a positive note with some consolidation, as the index rallied for last two days. Asian markets were also quiet in trade.
The benchmark Nifty started the day on a positive note with some consolidation, as the index rallied for last two days. Asian markets were also quiet in trade.
At 9:02 hours IST, the Nifty was trading at 5241, up 10 points and the Sensex was at 17525, up 35 points.
The CNX Midcap rose 21 points to 7591. The market breadth was positive; about 447 shares advanced while 248 shares declined on the NSE.
Among the frontliners, Idea Cellular, SAIL, BPCL, ICICI Bank, Infosys, Jaiprakash Associates, Reliance Infrastructure, Bharti Airtel and Sun Pharma were gainers in trade.
However, NTPC and IDFC were the losers.
Today's listing - United Bank of India was trading at Rs 73.20, up 10.9% over its issue price of Rs 66.
TTML gained 7%, as the company will divest 100% stake in tower subsidiary to Quippo-WTTIL. The deal was valued at Rs 1,318 crore.
SREI Infra will hold 12% stake in Quippo post merger; the stock rose 1%.
Apollo Hospital is in talks to buy stake in Kovai Medical, reports CNBC-TV18 quoting NW18 sources. Kovai Medical shot up 11% and Apollo was up 1.3%.
Dalmia Cement gained 2.5%, as the company is likely to demerge its sugar arm, reports CNBC-TV18 quoting sources.
S Kumar Nationwide is planning Reid & Taylor IPO in next 6-8 months. The stock rallied 6%.
Global cues:
Asian markets were trading mixed. Nikkei, Straits Times and Jakarta were down while Shanghai, Kospi and Hang Seng were up.
