ECONOMY ANALYSIS
- Banks lift Nifty above 6100, Sensex soars 170; Axis up 4%
- Bharti Airtel buys Loop Mobile, to get 3 mn subscribers
- GlaxoSmithKline Pharma Q4 profit falls 15.5% to Rs 117 cr
- ABB Q4 profit jumps 3.5-fold to Rs 58.6 cr, margin doubles
- RR Finance consolidated Dec '13 sales at Rs 18.18 crore
- RDB Realty consolidated Dec '13 sales at Rs 18.10 crore
- Interim Budget: Excise duties cut; FY14 fisc at 4.6%, FY15 seen at 4.1%
MARKET ANALYSIS
- MUMBAI: The benchmark Sensex today shot up 170 points to a nearly three-week closing high of 20,634.21, driven by gains in banking, capital goods and auto shares as investors continued to cheer the interim budget proposals.
- The Sensex, which had gained 271 points in the previous two sessions, rose further by 170.15 points, or 0.83 per cent, to close at 20,634.21 -- the highest level since January 29.
- Axis Bank, HDFC, ICICI Bank and Maruti Suzuki led the 21 gainers in 30-share Sensex.
- GAIL and ITC were among laggards.
- The 50-scrip National Stock Exchange index Nifty rose 53.80 points, or 0.89 per cent, to close at 6,127.10.
- "While announcing the Interim Budget, the Finance Minister stated government will contain the fiscal deficit at 4.6 per cent of GDP. This has boosted investor confidence and buying interest was seen.
- Excise duty cuts in sectors such as Auto and Capital Goods also led to renewed buying," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.
MAJOR INDICES
INDIAN MARKET
INDEX
|
CLOSE
|
CHANGE
|
% CHANGE
|
SENSEX
|
20634.21
|
170.15
|
0.83
|
NIFTY
|
6127.10
|
53.80
|
0.89
|
BANK NIFTY
|
10575.20
|
248.65
|
2.41
|
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