Market Watch

Tuesday 1 July 2014

Stock Tips Alert: Indian Shares Gain on Heavy Buying


The S&P BSE Sensex surged as much as 123 points in trade on Tuesday despite muted trend seen in other Asian markets. The rally in the index was led by gains in ICICI BankBSE 1.02 %, HindalcoBSE 6.31 %, SesaBSE 2.17 % Sterlite and Tata MotorsBSE 0.85 %.
The 30-share index was at 25,507.04, up 93 points or 0.37 per cent. It touched intraday high of 25,536.22 and a low of 25,468.40 in trade today.
 India's BSE index is up 0.44 percent, while the broader NSE index is 0.31 percent higher, after heavy buying by foreign institutional investors in the previous session. A hike in fuel prices also helps.
ICICI Bank rises 0.9 percent, while Larsen & Toubro is up 0.6 percent.   

Indian Oil Corp raises the retail price of gasoline and diesel from Tuesday as global oil prices firmed and the rupee weakened in the last two weeks due to violence in Iraq.
India's Hindalco Industries Ltd surges 6.8 percent after CLSA upgrades the stock to "buy" from "sell" and raises its target price to 215 rupees from 110 rupees.

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