Mumbai -- Fresh buying in index heavy weights like Reliance Industries, Dr Reddy’s Lab, Infosys, Tata Motors, Ranbxy, HLL and Tata Steel helped the markets to open in green territory. In the morning trading session, the BSE 30-share Sensex is up by 7 at 11910 and NSE 50-share Nifty is flat at 3468. Dr Reddy’s Labs National Aluminum, Hindalco, REL, Tata Power and ITC are the key gainers among the 50-scrips of Nifty.
However, most Asian markets were witnessing downfall this morning. The Nikkei in Tokyo was down 22 points at 16,363 while the Hang Seng in Hong Kong shed 79 points at 17,359. The Kospi in Seoul was flat at 1362 while the Straits Times in Singapore was down 9 points at 2529 and the Taiex in Taiwan advanced 6 points at 6741.
Speculations that Essar Steel Ltd. may buy an 83% stake in Egypt's Suez Steel Co. boosted the company shares. Essar has surged by 4% to Rs. 37. The scrip has touched an intra-day high of Rs. 37 and a low of Rs. 36 and has recorded volumes of over 80, 000 shares on BSE.
An investment plan pushed the REL higher. The company has surged by 2% to Rs. 474 after the company announced that it would invest Rs. 200 billion in Dadri plant. The scrip has touched an intra-day high of Rs. 475 and a low of Rs. 466 and has recorded volumes of over 1, 00, 000 shares on NSE.
Following the track of gainers, Ashok Leyland has edged higher by 0.8% to Rs. 43 after the company’s August sales rose by 36.8% to 6483 units. The scrip has touched an intra-day high of Rs. 44 and a low of Rs. 43 and has recorded volumes of over 7, 00, 000 shares on NSE.
