Sensex Scales New Peaks

Bombay Stock ExchangeToday, the BSE Sensex opened healthily at 14,720, continuing its upward trend to touch a record high of 14,790.87. The stocks from banking, auto, and IT led the advances.
On the other hand, Asian markets also opened higher after a rise in the metal and crude prices. The increase was further affected by a report that mulled an upward drift in the constructing activity in USA and Europe.

Bankex Surges As Inflation Falls

BSE's banking share index ‘Bankex’ had surged 153.28 points, or 1.92%, to 8,143.76 in noon trades on anticipations that interest rates may diminish because of lower inflation.
The existing level is a record high for the Bankex. It also hit a low of 8,019.66 during the day. On 19 July 2006, the Bankex had touched a 52-week low of 4,032.39.
State Bank of India (SBI) boosted 3.21% to Rs 1580, ICICI Bank 1.64% to Rs 966.25, HDFC Bank 0.34% to Rs 1150, Bank of India 0.26% to Rs 228.20, Punjab National Bank (PNB) 2.55% to Rs 541.80.
On the other hand, ICICI Bank, State Bank of India and HDFC bank showed weightages of 40.36%, 17.12% and 13.83%, correspondingly, in the Bankex.

Flow Outlook Spurs Rupee To One-Month High

Mumbai: Today, the rupee climbed to its peak level within a month, driven by the viewpoint of soaring investment flows into Asia’s third- biggest economy.
In morning, the rupee was at 40.54/55 a dollar, which is its highest peak since June 6, and strengthening from Monday's 40.65/66.
The chief dealer with the foreign bank anticipating the rupee to trade in a 40.52-40.62 rannge today said, “The positive signals from Asian equities are leading the market to believe that the stock market will do well, and that the inflows will be good.”
He stated that the RBI was expected to get involved at around 40.52 to restrict the rupee’s advancements.

ABN Amro Indian Sector’s Profit Climbs 59%

ABN Amro BankOn the back of an increase in interest and fee-based income, ABN Amro Bank has

Govt may Hike Petrol, Diesel Rates

New Delhi: PetrolThe government is thinking over ways such as increasing petrol and diesel prices for coping with the surge in worldwide crude oil rates, which have resulted in oil companies losing Rs 170 crore a day.
According to the official sources that an increase of Rs 2 in petrol and a Re 1 in diesel prices is being mooted as Indian basket of crude oil passed over $69 a barrel mark.
Public sector oil companies are receding more than Rs 5.3 a litre on petrol and Rs 4.40 on diesel as Indian basket of crude oil has climbed 12 per cent since February 15, when petrol and diesel prices were down by Rs 2 and Re 1 a litre correspondingly.

BJP Looks For Fresh Guidelines

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News in Focus

Mitesh Thakkar: BUY TCS, Dr Reddy’s; SELL Axis Bank and BPCL

Market analyst Mitesh Thakkar has suggested two BUY Calls and two SELL Calls for today’s trading session.

Ashwani Gujral: BUY Tech Mahindra, Divi’s Labs, Sun TV; SELL M&M Finance and Manappuram Finance

Market analyst Ashwani Gujral has suggested three BUY Calls and two SELL Calls for today’s trading session. Indian markets have been facing selling pressure as global trends have turned bearish.

Mitesh Thakkar: BUY HCL Technologies, Godrej Consumer; SELL Bajaj Finance and ONGC

Market analyst Mitesh Thakkar has suggested two BUY Calls and two SELL Calls for today’s session. Indian markets are expected to trade lower today, especially after yesterday’s big decline.

Sudarshan Sukhani: BUY UPL, Apollo Hospitals; SELL Coal India and Axis Bank

Technical analyst Sudarshan Sukhani has suggested two BUY Calls and two SELL Calls for today’s trading session.

Mitesh Thakkar: BUY Cipla, Bharti Airtel; SELL Bajaj Finserv and Hindustan Unilever

Market analyst Mitesh Thakkar has suggested two BUY Calls and two SELL Calls for today’s trading session.

Sudarshan Sukhani: BUY Dabur, UPL, Aurobindo Pharma; SELL PVR

Technical analyst Sudarshan Sukhani has suggested three BUY Calls and one SELL Call for today’s trading session.