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Markets open in green, Sensex up 200 points; Nifty touches 10,500 mark
Posted on 12th February 2018
Key indices on Monday opened in green. The benchmark BSE Sensex opened 200 points higher to open at 34203.34 while the NSE Nifty gained over 70 points to trade above 10,500.

The BSE market breadth was bullish as 1,028 stocks advanced as against 224 declines.

At 10:00 AM, Sensex was up by 0.34% to trade at 34,120.03 points while Nifty was at 10,495.05.

Meanwhile, the rupee recovered by 15 paise to 64.25 against the dollar in opening trade today on fresh selling of the US currency by exporters and banks amid a higher opening in domestic equity markets.

Forex dealers said the dollar's losses against major global currencies overseas after last week's rally supported the rupee.

Asian share markets found a semblance of calm on Monday as S&P futures extended their bounce, though bond investors were still fretting about the risks from looming U.S. inflation data.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.8 per cent, having suffered a 7.3 per cent drubbing last week.

Both South Korea and China gained 0.8 percent, while Japan's Nikkei was closed for a holiday.

E-Mini futures for the S&P 500 rose 0.5 per cent, adding to a late bounce on Friday. Yet a relatively sharp 12 tick drop in Treasury bond futures suggested it was too early to sound an all-clear on volatility.

"A massive buildup in market leverage has been partially unwound in the blink of an eye and morphed into something far more broad-based," said Chris Weston, chief market strategist at broker IG.

"One could argue that it is the U.S. bond market that is the driving force, and will remain so through this coming week."Particularly challenging will be U.S. consumer price data on Wednesday given it was fears of faster inflation, and thus more aggressive rate rises, that triggered the global rout in the first place.

Median forecasts are for consumer price inflation to slow a little to 1.9 per cent in January, mainly due to the base effect of a high reading in January 2017, while the core measure is seen ticking down to 1.7 per cent.

Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

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BPCL to keep Mumbai refinery shut for at least 2 months after fire: Source
Posted on 17th August 2018
India's Bharat Petroleum Corp Ltd will keep a secondary unit at its 120,000 barrels-per-day (bpd) Mumbai refinery offline for at least two months following a fire last week, two industry sources said on Friday.

When contacted, a BPCL spokesman could not immediately confirm the duration of the shutdown, saying that a decision will be made in one to two days.


Ashok Leyland bags order for 300 double-decker buses from Bangladesh
Posted on 17th August 2018
Ashok Leyland has won an order of 300 double-decker buses from Bangladesh Road Transport Corporation (BRTC).

Leyland has to deliver the order within eight months.

Vinod K. Dasari, Managing Director of Ashok Leyland, said Bangladesh is one of the key export markets and this order further strengthens the company's position.


ITC hits fresh 52-week high; stock surges 17% in one month
Posted on 17th August 2018
Shares of ITC hit a fresh 52-week high of Rs 315, up 2.5% on the BSE in early morning trade, extending gains of the past 4 weeks after the company’s June quarter net profit beat the Street estimates.

The stock of fast moving consumer goods (FMCG) company was the largest gainer among the S&P BSE Sensex at 09:38 am. It outperformed the market by surging 17% in past one month, as compared to a 4% rise in the benchmark index.


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