Market Watch

Monday 7 July 2014

Stock Tips & Current Market News Updates


The S&P BSE Sensex rallied as much as 154 points in trade on Monday to hit its fresh record high of 26116.73 in trade, led by gains in InfosysBSE 2.37 %, TCSBSE 2.21 %, Tata MotorsBSE 1.21 %, L&T and Bharti AirtelBSE 1.79 %.
The 50-share index was at 7,779.70, up 28.10 points or 0.36 per cent. It touched an all-time high of 7,791.40 and a low of 7,765.80 in trade today.
Indian stocks are witnessing a pre-Budget rally amid expectations that Finance Minister Arun Jaitley will announce measures aimed at bolstering economic growth.
Technology stocks gain ahead of Infosys Ltd kicking of the April-June earnings season on July 11. Infosys is up 2.2 percent, while Tata Consultancy Services Ltd gains 2.4 percent.
 Sentiment is also supported as investors expect the government's maiden budget, to be to unveiled on Thursday, to target increase in revenue from asset sales while controlling spending.
South Indian Bank Ltd's shares gain as much as 5.9 percent to a record high at 35.05 rupees after U.S.-based Pabrai Investment Fund, run by fund manager Mohnish Pabrai, bought a 1.5 percent stake, or 19.6 million shares, in the company on Friday.
The market breadth indicating the overall health of the market was strong.

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