Markets through the day: BSE Sensex, NSE Nifty continue record-setting streak, SBI shares rise

Mar 27 2014, 18:20 IST
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Consistent pumping of money by FIIs have lifted BSE Sensex and NSE Nifty to their lifetime high. Reuters Consistent pumping of money by FIIs have lifted BSE Sensex and NSE Nifty to their lifetime high. Reuters
SummaryBSE Sensex closed 0.48 pct higher, while NSE Nifty gained 0.58 pct.

housing contracts worth Rs 1,981 crore - Construction major L&T has won contracts worth Rs 1,981 crore in the housing sector this month, including a major order in Bangalore. "The Buildings & Factories Business of L&T Constructions has won new housing orders worth Rs 1,981 crore in March 2014," the company said in a filing to the BSE.

1:52: Lupin buys Mexico's Laboratorios Grin; forays into LATAM mkt - Drug major acquired Mexico's Laboratorios Grin, a leading player in ophthalmic products, for an undisclosed amount, marking its foray into the Latin American country.

1:10 P.M.: NEWSFLASH - SC proposes any person associated with India Cements Ltd will not be involved with BCCI

* Supreme Court proposes that Chennai Super Kings and Rajasthan Royals should not be part of IPL 7

* * SC proposes Sunil Gavaskar as interim President of BCCI in place of N Srinivasan till it gives final verdict in the matter

* SC asks BCCI to come up with its response on its proposals tomorrow.

12:30 P.M.: NEWSFLASH: Fire reported in Haryana Governor plane; no injuries reported; Beech Craft B200's control system got jammed. Governor Jagannath Pahadia and nine others safe.

12:25 P.M.: Shares of PSU banks Punjab National Bank (PNB) (3.09%), Bank of Baroda (2.60%) and State Bank of India (3.50%) gain after Goldman Sachs upgrade. The brokerage says that stressed assets are likely to decline as the economy improves. Brokerage upgrades SBI and Bank of Baroda to 'BUY' from 'NEUTRAL', while it upgraded Punjab National Bank to 'NEUTRAL' from 'SELL'.

The SBI scrip was trading at Rs 1829.70, the PNB scrip was trading at Rs 700.30, while shares of Bank of Baroda were trading at Rs 696.45, at 12.00 pm IST.

11:58 A.M.: Experts warn that the markets could be volatile. "The markets may witness volatility ahead of March derivative segment expiry on Thursday. Easing tension in Ukraine and positive global data points could support the market," Standard Chartered Securities analysts said.

"We may remain positive as long as the NSE Nifty holds 6,460 level. NSE Nifty may touch 6,800 in the medium term. Support is at 6,540 and 6,460," the note added.

11.45 A.M.: Higher FII flows towards India logical but quick reversals may happen, say experts

11.40 A.M: Foreign investors bullish on India as rest of BRICS disappoint and future cloudy

11.10 A.M.: S&P BSE Sensex up over 114.07

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