Markets gain in morning trades
The markets have opened on positive note on the last trading day of the current financial year 2011-12. The Sensex is up 193 points at 17,250. Nifty is up 62 points at 5,241.
At the domestic level, traders will also keep a tab on RBI’s move to buy 10,000 crore rupees worth of bonds from the market via open market operations.
US equities pared most losses on Thursday. The Dow Jones industrial average closed up 0.2 per cent, at 13,146. The Standard & Poor's 500 Index ended 0.2 per cent lower at 1,403.
In Asia, MSCI's broadest index of Asia Pacific shares outside Japan inched up 0.1 per cent on Friday, while Japan's Nikkei average opened down 0.3 per cent.
BSE realty index has gained 1.5% at 1,758. Consumer durables index has added 1.4%, followed by bankex and metal indices.
ICICI Bank accounts for a 27 points run on the Sensex. Th stock has gone up 2.2% at Rs 875. Tata POwer, TCS and DLF have added 2% each. Among other gainers are Hindalco, SBI and Gail India.
Among individual stocks, Coal India has moved up 0.6% at Rs 335. Reports suggest that the company has approved the new draft fuel supply pact, but with riders.
The government will look into the possibility of disinvestment of Andrew Yule and Company’s stake in Tide Water Oil. The stock has gained 1.2% at Rs 7,340.
NTPC has frozen expansion of its gas-based projects due to non-availability of the fuel, reports suggest. Shares of NTPC is up 0.7% at Rs 164.
Essar Oil has completed the expansion of its Vadinar oil refinery in Gujarat and expects revenue to grow 35 per cent in 2012-13. The stock is up 3% at Rs 54.20.
Ashok Leyland has initiated talks with foreign players for technological partnerships to foray into the aerospace business. Ashok Leyland has advanced 2.5% at Rs 30.
The promoters and promoter group of Chemplast Sanmar are planning to buyback shares worth 90.60 crore rupees. Shares of Chemplast has advancd 1.3% at Rs 6.60.