Quick view: Sensex gains 24 points ahead of Infosys results

Oct 11 2013, 03:01 IST
Comments 0
SummaryThe benchmark Sensex ended 24 points higher on Thursday in a choppy session, ahead of the Q2 results of Infosys

The benchmark Sensex ended 24 points higher on Thursday in a choppy session, ahead of the Q2 results of Infosys, which kicks off the earnings season. The Sensex opened lower and traded in a range of 20,135.91 to 20,323.77 before ending at 20,272.91, a rise of 23.65 points or 0.12%. Auto, metal and IT stocks advanced as 10 of the 13 BSE sectoral indices gained. Tata Motors, HDFC and Infosys boosted the Sensex, while HDFC Bank, ITC and Hindustan Unilever dragged it lower. Infosys, which reports its Q2 results on Friday, gained 0.53% to R3,124.15, rising for the fourth session. The CNX Nifty on the National Stock Exchange gained 13.50 points, or 0.22%, at 6,020.95. The SX40 index on the MCX Stock Exchange added 23.42 points at 12,079.15.

HSBC cautious on India, sets Sensex target at 20,250

Slowing economy, election-related uncertainty and tighter monetary conditions pose risks for Indian markets and the Sensex is likely to hover around 20,250 by the end of this year, says an HSBC report. It also cut private banks to ‘neutral’ from ‘overweight’. According to the global financial services major, “a combination of weak economy, election uncertainty and concern over the reversal of foreign equity/debt flows make us cautious on India”.

Sebi surveillance system generates 100 alerts daily

Sebi’s surveillance system generates about 100 alerts of suspicious trading activities, of which at least 10 are pursued for further action. To provide a broad idea about surveillance mechanism in place for the capital market, these figures were disclosed by Securities and Exchange Board of India (Sebi) chairman UK Sinha on Thursday. Talking about frauds in the securities market, he said that the regulator has a sophisticated surveillance mechanism in place for detecting such activities. Similar systems are also there with stock exchanges. “Everyday, Sebi system generates about 100 alerts. Each and every alert is tracked, it is based on certain parameters. Everyday, 8 to 10 alerts we take to the next level. Some of these (cases) leads to investigation and enforcement action,” Sinha said.

SAT sets aside Sebi order against Earnest Health

The Securities Appellate Tribunal (SAT) has set aside a Sebi order that slapped a fine of R10 lakh on Earnest Healthcare for alleged failure to redress investor grievances and submit a status report as specified by the market regulator. In an order dated October 9, the tribunal directed Earnest Healthcare to effectively deal with all

Single Page Format
Ads by Google

More from Corporates & Markets

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...