Monday, August 20, 2012

Sensex, Nifty rose 8/21/2012

Sensex, Nifty rose 8/21/2012 : The BSE Sensex rose 0.40 per cent early Tuesday led by gains in Infosys, Tata Motors and ICICI Bank. The 50-share Nifty was trading at 5,382, up 0.3 per cent.

At 9:20 a.m., the 30-share BSE index was trading at 17,766.80, up 75 points or 0.43 per cent. Infosys (2.1 per cent), Tata Motors (2.02 per cent) and ICICI Bank (0.6 per cent) led the gains.


Infosys surged over 2 per cent in opening trade after the software major won a harassment case filed by its employee Jack Palmer, after a US judge dismissed his claims and threw out the case on Monday.

Maruti Suzuki Ltd gained 1 per cent in early trade. India's largest carmaker will lift the lockout at its Manesar facility today and restart production on a small scale. Reacting to the development, Macquarie upgraded Maruti Suzuki to 'outperform' from 'neutral' and also raised its target price to Rs 1,500 from Rs 1,200.

However, an early restart to the Manesar operations is seen as the key to restore investor confidence in the stock as well as mitigate the risk of losing customers to competition ahead of the festive season.

The rupee opened higher in line with gains in local shares. The Indian unit was at 55.58/59 versus its previous close of 55.73/74, up 0.8 per cent on the week, Reuters reported.

"The dollar/rupee 1-month NDF was trading at 55.88 after closing NY trading at 56.08-13. Dealers say a fall in crude oil prices will keep the pressure on the pair," the report noted.

The BSE IT Index was trading 1.1 per cent higher, the BSE Auto Index gained 0.8 per cent and the BSE Realty Index was up 0.45 per cent. The BSE Capital Goods Index was trading 0.1 per cent lower followed by the BSE HealthCare Index, which was down 0.05 per cent.

Top traded counters on BSE include Infosys, SBI and Tata Motors.

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