The Indian Indices closed higher in today’s trade. The Sensex 30 crossed the 17,000 mark to close at 17032.56, up 135.93 points or 0.80%. It touched an intraday high of 17,042 and lows of 16,800 levels in trade today. The Nifty closed at 5165 points, up 44.45 points today. It touched highs of 5165 levels and lows of 5093 in intraday trade.

Asian markets closed lower by 0.50 – 1.00 percent on weaker yen. Europe is trading lower on last night’s Fed’s statements at the FOMC statement.

The Indian rupee hits record lows against the US Dollar in trade today to breach the 56 level mark.

Cement stocks were penalised by competition watchdog CCI, by imposing a penalty of 50 percent of their profits in FY10 on grounds of cartelization.

On the stock front, Mastek rose 6 percent to INR 106 a share on news of the firm signing a USD 30 m deal with US based Majesco Mastek. Reliance Industries dropped 3.25 percent to INR 713 on lower estimates of output at the KG D6 basin. Output is expected to have decreased by 50 percent, according to Niko Resources. Moodys reviewed Tata Power for a possible downgrade on covenant breaches.

Commodities moved lower with WTI at USD 80.56 down 1.09% and Brent trading at USD 91.61 down -1.17%. On the weather front, tropical disturbance are expected to originate in the western Caribbean and Southern Gulf of Mexico.




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Categories: General News

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