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Friday, March 25, 2011

IT stocks lead Sensex to close 465 points higher


The Indian markets continued its upward journey for the fourth consecutive session, with the major support coming in from the technology stocks

Major headlines

Financial Technologies up 7% on reports of MCX listing

Simbhaoli Sugars to hive off some units

Uflex set to launch PET plant in US

Mkts post best weekly gain of 2011; indices rise 5%


Major news for the week:

Food inflation rises to 10.05% vs 9.42%

SEBI plans new rules on MF sales

JSW Steel raises offer price for Ispat

Wockhardt gets stay on winding up order from HC

FM rolls back 5% service tax on healthcare

Derivatives expiry, year-end reshuffling of positions may cause volatility


Expiry of the near-month March 2011 derivatives contracts may keep stocks choppy next week after this week's strong gains. Year-end reshuffling of positions by traders may also add to volatility. The near-month March 2011 derivatives contracts expire on Thursday, 31 March 2011.

Market rebounds from 3-week low


The market surged last week as investors bought shares after a recent sell-off that was triggered by negative global news like high crude oil prices and Japan crisis. Data showing buying by foreign funds also perked up sentiments. Indian stocks rose in four out of five trading session in the week ended 25 March 2011 with bullish comments on India from billionaire legendary investor Warren Buffett and on hopes for economic reforms, aiding the rally. The government tabled some key reforms bills in parliament. All the 30 Sensex shares rose last week.

Sensex, Nifty settle at 2-month highs as Infy, ICICI Bank sizzle


After team India's splendid feat in Ahmedabad on Thursday, 24 March 2011 dethroning the Aussies to enter the semi-finals of the World Cup 2011, today, 25 March 2011 it was the turn of Indian bourses. Stock markets mimicked Indian cricket team's all round performance as bulls went on rampage sending stocks across sectors rallying. Just as Yuvraj, Sachin and Gambhir steered India's way to the victory, heavyweights Infosys, ICICI Bank and Reliance Industries anchored the BSE Sensex and the S&P CNX Nifty to two-month closing highs.

United Phosphorus, Mahindra Holidays, Reliance Industries


United Phosphorus, Mahindra Holidays, Reliance Industries

Mundra Port and SEZ


Mundra Port and SEZ

India Real Estate


India Real Estate

Redington India


Redington India

JSW Steel


JSW Steel

Asian Paints


Asian Paints

Pidilite Industries


Pidilite Industries

Suzlon Energy


Suzlon Energy

Infosys Technologies


Infosys Technologies

TCS


TCS

Godrej Consumer Products


Godrej Consumer Products

Unitech


Unitech

KPIT Cummins


KPIT Cummins