Markets Extend Gains On GAAR Clarification
Chandrakant / 30 Mar 2012
After opening on a positive note, the Indian markets have extended their morning gains on the back of the clarification provided on the promissory note by the Finance Minister, Pranab Mukherjee.
After opening on a positive note, the Indian markets have extended their morning gains on the back of the clarification provided on the promissory note by the Finance Minister, Pranab Mukherjee. The Finance Minister made a statement in the media that the intention of the government was not to cause any harassment to genuine investors. It also clarified that the question of tax liability for Participatory note (P-note) holders does not arise. The Sensex and Nifty are both trading up by 1.69% and 1.82% respectively.
Other Asian markets continue to trade on a mixed note.
The European markets too have opened on a positive note today ahead of the Euro zone Finance Ministers meeting that is expected to come out with a bailout package.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| FTSE | 5,760.28 | 0.32 |
| DAX | 6,927.56 | 0.76 |
| CAC | 3,410.45 | 0.85 |
| Hang Seng | 20,555.58 | -0.26 |
| Nikkei | 10,083.56 | -0.31 |
| Shanghai | 2,262.79 | 0.47 |
| SENSEX | 17346.55 | 1.69 |
| NIFTY | 5,273.20 | 1.82 |
All the BSE sectoral indices are trading up with gains between 0.88%-2.52%. Of these, Realty, Metals and Bankex are leading with gains of 2.52%, 2.41% and 2.31% respectively. PSU, Oil & Gas, IT, CG, Power, Tech, etc. are also all up between 1.57% - 1.95%.
Among the Sensex shares BHEL, GAIL India, Hindalco and Tata Steel are leading with gains of 2.83%, 2.65%, 4.29% and 3.28% respectively. Others like Bajaj Auto, Cipla, Bharti Airtel, HDFC, HDFC Bank, Hindalco, ICICI Bank, Infosys, SBI, RIL, etc. are trading with gains between 0.48%-2.35%. In the losers pack, Jindal Steel, Sun Pharma and Wipro are marginally down between by 0.23%, 0.01% and 0.21% respectively.
The market breadth, which indicates the overall health of the market, is positive. On the BSE, 1820 shares rose, 843 shares declined and 113 shares remained unchanged.
We expect the markets to remain positive for the rest of the day.
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