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| Nifty hovers around 5,600 |
| SI Reporter / Mumbai Sep 07, 2010, 12:02 IST |
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The markets have pared some of its gains and the Sensex is up 51 points at 18,611 and the Nifty has gained 13 points at 5,590.
In the Junior Nifty, 30 scrips have advanced while 20 scrips have declined. The gainers here are Crompton Greaves and UltraTech Cement up 4%, The Federal Bank, JSW Steel,Punj Lloyd gaining 2% each. The losers are Ashok Leyland, Zee Entertainment Enterprises and Syndicate Bank down 1% each.
In the CNX Realty space which is down 0.2%, six scrips have moved up while four scrips have slipped.Realty heavyweights, Unitech and Anant Raj down 1.5% each are the draggers in this space.
The shares of most cement companies rallied on the bourses on hopes of growth prospects. The frontline cement stocks such as India Cements, Madras Cements, Ambuja Cements, ACC and Ultratech Cement have rallied between 4% and 9% on the BSE.
The higher-than-expected monsoon may revive demand for cement in the next few months as infrastructure development picks up speed. Good monsoon generally improves income of farmers and rural demand. As a result, the improvement in earnings fuels housing and construction activities.
Ambuja Cement up 7% extendidng gains continue to lead the Nifty gainers chart. ACC adding nearly 5%, Idea up nearly 4%, Suzlon and L&T gaining 2% each are some of the othrer significant gainers.
Unitech down nearly 2%, Power Grid, Ranbaxy, HDFC, Siemens shedding more than 1% each are the gainers on the NSE.
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