29 December 2014

Indian Share Market Tips; Sensex up over 200pts, Nifty above 8250;

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The Indian share market has opened last trading week of the year with marginal gains. The Sensex is up 72.01 points at 27313.79 and the Nifty s up 15.70 points at 8216.40. About 417 shares have advanced, 135 shares declined, and 35 shares are unchanged. Sesa Sterlite, L&T, Dr Reddy's Labs, Tata Motors and ONGC are gainers in the Sensex.
The Indian rupee declined in the early trade. It opened lower by 10 paise at 63.66 per dollar versus 63.56 Friday. The dollar began the final week of 2014 on firm footing, as the euro flirted with two-year lows while investors awaited a key vote in Greece later in the session. Activity is likely to be thin this week ahead of the New Year's holiday and many investors have already closed out their positions.
Metals and auto stocks are driving the market higher. The Sensex sprinted to 27490.51, up 248.73 points or 0.9 percent while Nifty is up 67.55 points or 0.8 percent at 8268.25. About 816 shares have advanced, 218 shares declined, and 30 shares are unchanged. Sesa Sterlite, Hindalco, HUL, ONGC and Tata Motors are top gainers in the Sensex.
In commodities, Nymex crude rose more than USD 1, reversing a fall in the previous session as escalating clashes in Libya threatened oil exports and supply disruptions from the OPEC member. From precious metals space, gold prices were steady, as crude oil prices flattened.

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