ECONOMY ANALYSIS
Nifty closes above 8400 amid M&A buzz
Kotak Mahindra, ING Vysya rally 7% on acquisition buzz
Bosch, Strides Arcolab, Amtek Auto up on NSE F&O inclusion
CBI to probe RBI's role in Bank of Rajasthan merger case
China Nov flash HSBC PMI falls to 50, output shrinks for first
time in 6 months
MARKET ANALYSIS
Equities held on to their late gains, with both the Sensex and Nifty closing
above key 28,000 and 8,400 marks. At close, the Nifty rose 0.22 percent,
or 19 points, to 8,401 while the Sensex gained 0.12 percent, or 34 points,
to 28,067.
Early in the day, high beta shares edged lower, but several sectors such as
banks and oil & gas staged a smart recovery to close in the green. Metals
and capital goods, though, closed 0.8 percent lower. But the best
performers of the day were IT and pharma, both helped by a depreciation
in the rupee. Cipla jumped 3.2 percent after announcing it had tied up with
Serum Institute of India to launch vaccines in Europe.
The IT pack got a further boost with Tech Mahindra rallying about 3
percent, amid speculation it would announce an acquisition at a press
conference it has scheduled at 4 pm today.
Nifty closes above 8400 amid M&A buzz
Kotak Mahindra, ING Vysya rally 7% on acquisition buzz
Bosch, Strides Arcolab, Amtek Auto up on NSE F&O inclusion
CBI to probe RBI's role in Bank of Rajasthan merger case
China Nov flash HSBC PMI falls to 50, output shrinks for first
time in 6 months
MARKET ANALYSIS
Equities held on to their late gains, with both the Sensex and Nifty closing
above key 28,000 and 8,400 marks. At close, the Nifty rose 0.22 percent,
or 19 points, to 8,401 while the Sensex gained 0.12 percent, or 34 points,
to 28,067.
Early in the day, high beta shares edged lower, but several sectors such as
banks and oil & gas staged a smart recovery to close in the green. Metals
and capital goods, though, closed 0.8 percent lower. But the best
performers of the day were IT and pharma, both helped by a depreciation
in the rupee. Cipla jumped 3.2 percent after announcing it had tied up with
Serum Institute of India to launch vaccines in Europe.
The IT pack got a further boost with Tech Mahindra rallying about 3
percent, amid speculation it would announce an acquisition at a press
conference it has scheduled at 4 pm today.
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