ECONOMY ANALYSIS
Nifty ends above 8700, Sensex up 271 pts; BHEL gains 5%
Hindalco Q3 profit up 7.5% to Rs 359 cr, misses forecast
ONGC to pay Rs 8.7K cr subsidy as FinMin gives only Rs 5,085cr
Bank of India Q3 profit tanks 70.4%, provisions increase
India Cements up 17%, transfers Chennai Super Kings to arm
Nikkei closes at highest level in 7.5 years
MARKET ANALYSIS
Domestic shares rallied around 1 per cent, in a sharp turnaround from
earlier mild losses after the leaders of Germany, France, Russia and
Ukraine reached a deal to end fighting in eastern Ukraine, sparking gains in
global markets.
The developments helped overcome earlier falls by bank shares over
concerns that the country's largest lender, State Bank of IndiaBSE -0.56 %
may post lower-than-expected December-quarter earnings on Friday.
The NSE's Nifty index rose 0.98 per cent to 8,711.55, marking its third
consecutive daily gain, after earlier falling as much as 0.33 per cent.
The BSE Sensex rose 271 points, or 0.95 per cent, to 28,805.10.
Gains were led by drugmakers such as Dr Reddy's Laboratories Ltd and
Cipla LtdBSE 4.07 %, which have a significant exposure to the Russian
market.
Dr. Reddy's gained 5.7 per cent, while Cipla ended 3.8 per cent higher.
Lenders even reversed earlier falls, with ICICI BankBSE 1.39 % ending up
1.3 per cent after earlier falling as much as 1.4 per cent. But State Bank of
India fell 0.6 per cent.
Nifty ends above 8700, Sensex up 271 pts; BHEL gains 5%
Hindalco Q3 profit up 7.5% to Rs 359 cr, misses forecast
ONGC to pay Rs 8.7K cr subsidy as FinMin gives only Rs 5,085cr
Bank of India Q3 profit tanks 70.4%, provisions increase
India Cements up 17%, transfers Chennai Super Kings to arm
Nikkei closes at highest level in 7.5 years
MARKET ANALYSIS
Domestic shares rallied around 1 per cent, in a sharp turnaround from
earlier mild losses after the leaders of Germany, France, Russia and
Ukraine reached a deal to end fighting in eastern Ukraine, sparking gains in
global markets.
The developments helped overcome earlier falls by bank shares over
concerns that the country's largest lender, State Bank of IndiaBSE -0.56 %
may post lower-than-expected December-quarter earnings on Friday.
The NSE's Nifty index rose 0.98 per cent to 8,711.55, marking its third
consecutive daily gain, after earlier falling as much as 0.33 per cent.
The BSE Sensex rose 271 points, or 0.95 per cent, to 28,805.10.
Gains were led by drugmakers such as Dr Reddy's Laboratories Ltd and
Cipla LtdBSE 4.07 %, which have a significant exposure to the Russian
market.
Dr. Reddy's gained 5.7 per cent, while Cipla ended 3.8 per cent higher.
Lenders even reversed earlier falls, with ICICI BankBSE 1.39 % ending up
1.3 per cent after earlier falling as much as 1.4 per cent. But State Bank of
India fell 0.6 per cent.
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