Nifty closes above 5850 on FM's NIB proposal
Finance ministers P Chidambaram's proposition in Parliament to set up National Investment Board (NIB) that monitor and advise ministries on expediting projects entailing investments in excess of
Finance ministers P Chidambaram's proposition in Parliament to set up National Investment Board (NIB) that monitor and advise ministries on expediting projects entailing investments in excess of
Rs 1,000 crore captivated market participants.
The Sensex closed at 19339.90 up 168.99 points or 0.88% and the Nifty ended at 5876.20 up 51.20 points or 0.88%, About 1654 shares advanced, 1251 shares declined, and 560 shares remain unchanged.
All the major sectoral indices ended in green, barring auto, FMCG and realty. Metal stocks led the rally for Sensex today.
Jindal Steel was the top gainer on the Sensex registering 5.4% gains. Coal India and Bajaj Auto remained top losers.
The market completely ignored GDP numbers and took refuge in Finance Minister's assurance on NIB, which is part of the reforms programme planned by Chidambaram.
Indian markets have been rallying since November 20, giving hopes that Nifty may come close to the 6000 mark in December or early January. Brokerages and international rating agencies too have been upgrading India to overweight.
Weekly/Monthly Gainers
Suzlon energy gained about 28% for the week. The stock was reeling under pressure on high debt, picked upward movement as lenders agreed to restructure company’s debt.
On monthly basis, United Spirits clearly stole the show. It gained 69% in November 2012. The gains were on the back of the Diageo deal, wherein Diageo will acquire majority stake in the company.
Similarly, Jet airways soared about 57% in November 2012, on back of the news that it will enter into a deal with Etihad and may use the funds to retire debt.
The Sensex closed at 19339.90 up 168.99 points or 0.88% and the Nifty ended at 5876.20 up 51.20 points or 0.88%, About 1654 shares advanced, 1251 shares declined, and 560 shares remain unchanged.
All the major sectoral indices ended in green, barring auto, FMCG and realty. Metal stocks led the rally for Sensex today.
Jindal Steel was the top gainer on the Sensex registering 5.4% gains. Coal India and Bajaj Auto remained top losers.
The market completely ignored GDP numbers and took refuge in Finance Minister's assurance on NIB, which is part of the reforms programme planned by Chidambaram.
Indian markets have been rallying since November 20, giving hopes that Nifty may come close to the 6000 mark in December or early January. Brokerages and international rating agencies too have been upgrading India to overweight.
Weekly/Monthly Gainers
Suzlon energy gained about 28% for the week. The stock was reeling under pressure on high debt, picked upward movement as lenders agreed to restructure company’s debt.
On monthly basis, United Spirits clearly stole the show. It gained 69% in November 2012. The gains were on the back of the Diageo deal, wherein Diageo will acquire majority stake in the company.
Similarly, Jet airways soared about 57% in November 2012, on back of the news that it will enter into a deal with Etihad and may use the funds to retire debt.
