Sluggishness continues to persist in the Indian equity markets lacking any trigger to take the markets in both way and the benchmarks are trading in a very tight range though in the positive terrain. Rate sensitive sectors along with healthcare and IT stocks were keeping the spirit high for the markets while capital goods along with the defensive sector FMCG was slightly in the somber mood. Reserve Bank of India has said that it is monitoring the economic data and also the liquidity situation, and would take a forward-looking view while deciding on the policy action. RBI is scheduled to come out with mid-quarterly review of the policy on June 16. However, the broader indices were performing better than their larger peers, taking the market breadth in firmer side. Some up move in PSU oil marketing companies too was being witnessed on decline in international crude prices.
The BSE Sensex is currently trading at 18,441.86, up by 21.75 points or 0.12%. The index has touched a high and low of 18,465.06 and 18,351.24 respectively. There were 15 stocks advancing against 15 declines on the index.
The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices were up by 0.51% and 0.43% respectively.
The major gaining sectoral index on the BSE were Realty up by 0.97, HC up by 0.88%, IT up by 0.52%, Oil & Gas up by 0.43% and Bankex up by 0.42%. While, CG down by 0.51%, FMCG down by 0.14%, CD down by 0.10% and Auto down by 0.07% were the only losers on the index.
The top gainers on the Sensex were Cipla up by 1.84%, DLF up by 1.01%, Reliance Infrastructure up by 0.94%, Reliance up by 0.85% and Mahindra & Mahindra up by 0.82%.
On the flip side, L&T down by 1.04%, Bajaj Auto down by 0.98%, Hero Honda down by 0.86%, Hindustan Unilever down by 0.84% and Tata Power down by 0.78% were the top losers on the index.
Meanwhile, Ambuja Cements has acquired 85% stake in Dang Cement Industries, Nepal for a consideration of Rs 19.13 crore. With this acquisition, Dang Cement Industries has become a subsidiary of the Company. The Company is also in the process of acquiring further 5% stake in the company for a consideration of Rs 1.13 crore.
Dang Cement Industries is a company incorporated in Nepal and holds limestone mining lease in Nepal. At present the company is not carrying out any business activity. Recently, Ambuja Cements reported a 6.57% dip in May sales at 17.64 lakh tones as compared to the same month last year. The company had recorded 18.88 lakh tones sales in May 2010.
On the other hand, Germany, India's biggest trading partner in Europe and one of the largest foreign investors in India, signed four bilateral agreements in the fields of science and technology, vocational education, medical research and nuclear physics with Asia's third largest economy. Germany's Chancellor Angela Merkel and India's Prime Minister Manmohan Singh held extensive talks on issues including war on terror and security in the Asian subcontinent as well as prevailing political climate in the Middle East and Libya.
The Indian Council of Medical Research (ICMR) and Helmholtz Association (HGF), Germany have signed a new Memorandum of Understanding (MoU) on translational efforts in biomedical research for a period of next five years. The MoU will provide for active translational efforts in biomedical research particularly in infectious diseases with long term capacity building for researchers and scientists. The other areas identified under the MOU are Oncology and Biomedical research related to health.
While, welcoming his German counterpart Katherina Reiche in his office, Union Minister of New and Renewable Energy, Dr Farooq Abdullah appreciated the large scale deployment of solar energy systems, especially on the rooftops of houses in Germany. He highlighted the problem of lack of electricity and access to energy in remote areas in India and the efforts undertaken to address the issue. He said there is a large scope for greater co-operation between the two countries in the field of developing renewable energy resources, technologies, manpower, etc.
Both the G4 nations which have been supporting each other's bids for permanent seats on the United Nations Security Council, also stressed on speeding up the process of the UN reforms. Germany, which has forged close ties in the field of research and development with India, also has robust economic ties with India given the fact that its annual bilateral trade currently pegged at $21 billion and the two countries have set their sights on further augmenting trade volumes to $29 billion by 2012.
The S&P CNX Nifty is currently trading at 5,538.15, up by 6.10 points or 0.11%. The index has touched a high and low of 5,542.15 and 5,507.80 respectively. There were 24 stocks advancing against 26 declines on the index.
The top gainers of the Nifty were Cipla up by 1.87%, Sun Pharma up by 1.64%, Kotak Bank up by 1.32%, Reliance up by 1.09% and JP Associate up by 1.03%.
L&T down by 1.32%, ACC down by 1.19%, Hero Honda down by 1.09%, SAIL down by 1.09% and Bajaj Auto down by 1.00% were the major losers on the index.
Most of the Asian equity indices were trading in the red; Hang Seng declined 0.31%, Jakarta Composite dropped 0.33%, KLSE Composite shed 0.04%, Straits Times trimmed 0.13%, Seoul Composite plunged 0.70%.
On the flip side, Taiwan Weighted was trading higher by 0.12%, while Shanghai Composite gained 0.32% and Nikkei 225 added 0.62%
The BSE Sensex is currently trading at 18,441.86, up by 21.75 points or 0.12%. The index has touched a high and low of 18,465.06 and 18,351.24 respectively. There were 15 stocks advancing against 15 declines on the index.
The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices were up by 0.51% and 0.43% respectively.
The major gaining sectoral index on the BSE were Realty up by 0.97, HC up by 0.88%, IT up by 0.52%, Oil & Gas up by 0.43% and Bankex up by 0.42%. While, CG down by 0.51%, FMCG down by 0.14%, CD down by 0.10% and Auto down by 0.07% were the only losers on the index.
The top gainers on the Sensex were Cipla up by 1.84%, DLF up by 1.01%, Reliance Infrastructure up by 0.94%, Reliance up by 0.85% and Mahindra & Mahindra up by 0.82%.
On the flip side, L&T down by 1.04%, Bajaj Auto down by 0.98%, Hero Honda down by 0.86%, Hindustan Unilever down by 0.84% and Tata Power down by 0.78% were the top losers on the index.
Meanwhile, Ambuja Cements has acquired 85% stake in Dang Cement Industries, Nepal for a consideration of Rs 19.13 crore. With this acquisition, Dang Cement Industries has become a subsidiary of the Company. The Company is also in the process of acquiring further 5% stake in the company for a consideration of Rs 1.13 crore.
Dang Cement Industries is a company incorporated in Nepal and holds limestone mining lease in Nepal. At present the company is not carrying out any business activity. Recently, Ambuja Cements reported a 6.57% dip in May sales at 17.64 lakh tones as compared to the same month last year. The company had recorded 18.88 lakh tones sales in May 2010.
On the other hand, Germany, India's biggest trading partner in Europe and one of the largest foreign investors in India, signed four bilateral agreements in the fields of science and technology, vocational education, medical research and nuclear physics with Asia's third largest economy. Germany's Chancellor Angela Merkel and India's Prime Minister Manmohan Singh held extensive talks on issues including war on terror and security in the Asian subcontinent as well as prevailing political climate in the Middle East and Libya.
The Indian Council of Medical Research (ICMR) and Helmholtz Association (HGF), Germany have signed a new Memorandum of Understanding (MoU) on translational efforts in biomedical research for a period of next five years. The MoU will provide for active translational efforts in biomedical research particularly in infectious diseases with long term capacity building for researchers and scientists. The other areas identified under the MOU are Oncology and Biomedical research related to health.
While, welcoming his German counterpart Katherina Reiche in his office, Union Minister of New and Renewable Energy, Dr Farooq Abdullah appreciated the large scale deployment of solar energy systems, especially on the rooftops of houses in Germany. He highlighted the problem of lack of electricity and access to energy in remote areas in India and the efforts undertaken to address the issue. He said there is a large scope for greater co-operation between the two countries in the field of developing renewable energy resources, technologies, manpower, etc.
Both the G4 nations which have been supporting each other's bids for permanent seats on the United Nations Security Council, also stressed on speeding up the process of the UN reforms. Germany, which has forged close ties in the field of research and development with India, also has robust economic ties with India given the fact that its annual bilateral trade currently pegged at $21 billion and the two countries have set their sights on further augmenting trade volumes to $29 billion by 2012.
The S&P CNX Nifty is currently trading at 5,538.15, up by 6.10 points or 0.11%. The index has touched a high and low of 5,542.15 and 5,507.80 respectively. There were 24 stocks advancing against 26 declines on the index.
The top gainers of the Nifty were Cipla up by 1.87%, Sun Pharma up by 1.64%, Kotak Bank up by 1.32%, Reliance up by 1.09% and JP Associate up by 1.03%.
L&T down by 1.32%, ACC down by 1.19%, Hero Honda down by 1.09%, SAIL down by 1.09% and Bajaj Auto down by 1.00% were the major losers on the index.
Most of the Asian equity indices were trading in the red; Hang Seng declined 0.31%, Jakarta Composite dropped 0.33%, KLSE Composite shed 0.04%, Straits Times trimmed 0.13%, Seoul Composite plunged 0.70%.
On the flip side, Taiwan Weighted was trading higher by 0.12%, while Shanghai Composite gained 0.32% and Nikkei 225 added 0.62%
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