Indian Market Open higher; OMC"s rallied on RBI"s Analysis for Aug 29, 2013

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Domestic bourses opened on a higher note on the account of buying witnessed in oil marketing companies (OMC"s) after the RBI opened a special foreign exchange swap window to meet the daily dollar requirements of the three public sector OMC"s. US market ended on higher note as energy stocks rallied on higher price of crude which settled at a more-than-two-year high above $110 a barrel on concern about supply amid rising tension over Syria. Caution ahead of August series expiry, due today and Q1FY14 GDP data, due on Friday, may keep the market under pressure.

Rupee will continue to play mayhem in the market as rising oil prices and risks to portfolio outflows could lead to further depreciation of the already undervalued rupee. The PSU oil marketing companies too are likely to be under pressure as the international crude prices have surged on escalating geo-political tension that there will be a military strike against Syria.

Pratibha Industries Ltd stock will be in focus today as the company has bagged a Rs 230-crore order from Public Health Engineering Department of Jaipur for water supply project.

Videocon Ltd, is planning to roll out fourth generation (4G) services by July-August next year and for infrastructure it is in talks with Nokia Siemens Networks.

Mphasis will announce its Q3 earnings today.

ONGC, BPCL & HPCL will be in focus after the RBI has decided to open a foreign exchange swap window to meet the daily dollar requirements of the three public sector OMC"s.At 9:21AM BSE SENSEX was at 18125.2 up by 129.05 points or by 0.72 per cent and then NSE Nifty was at 614.4 down by 4670.6 points or by -88.37 per cent.

The BSE MIDCAP was at 5266.06 up by 41.93 points or by 0.8 per cent. while the BSE SMLCAP was at 5169.77 up by 24.3 points or by 0.47 per cent.

The BSE Sensex touched intraday high of 18205.49 and intraday low of 18071.22.

The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 675.60,+3.29per cent), Larsen & Toubro Ltd. (Rs. 722.50,+2.52per cent), HDFC Bank Ltd. (Rs. 575.60,+2.47per cent), ICICI Bank Ltd. (Rs. 814.75,+2.27per cent), Bharti Airtel Ltd. (Rs. 293.55,+2.02per cent), among others.

The top losers of the BSE Sensex pack were Infosys Ltd. (Rs. 3076.90,-1.39per cent), Wipro Ltd. (Rs. 465.25,-1.30per cent), Tata Consultancy Services Ltd. (Rs. 1883.00,-1.13per cent), Bajaj Auto Ltd. (Rs. 1717.85,-0.73per cent), Mahindra & Mahindra Ltd. (Rs. 774.40,-0.32per cent), among others.

In BSE, BSE_Bankex index was at 10172.26 up by 192.9 points or by 1.93per cent. YES Bank Ltd. (Rs. 233.00,+3.14per cent), Federal Bank Ltd. (Rs. 263.35,+2.53per cent), HDFC Bank Ltd. (Rs. 575.60,+2.47per cent), ICICI Bank Ltd. (Rs. 814.75,+2.27per cent), Union Bank of India (Rs. 101.75,+1.34per cent),.

In BSE, BSE_CGS index was at 7068.63 up by 125.08 points or by 1.8per cent. Jindal Saw Ltd. (Rs. 49.00,+2.94per cent), Larsen & Toubro Ltd. (Rs. 722.50,+2.52per cent), Welspun Corp Ltd. (Rs. 32.00,+1.27per cent), Bharat Electronics Ltd. (Rs. 1144.00,+1.21per cent), Suzlon Energy Ltd. (Rs. 5.81,+0.87per cent),.

In BSE, BSE_IT index was at 7760.36 down by -73.15 points or by -0.93per cent. Infosys Ltd. (Rs. 3076.90,-1.39per cent), Wipro Ltd. (Rs. 465.25,-1.30per cent), Tata Consultancy Services Ltd. (Rs. 1883.00,-1.13per cent), HCL Technologies Ltd. (Rs. 972.95,-0.50per cent), Hexaware Technologies Ltd. (Rs. 127.40,-0.39per cent),.

In BSE, BSETECk index was at 4314.42 down by -21.56 points or by -0.5per cent. Infosys Ltd. (Rs. 3076.90,-1.39per cent), Wipro Ltd. (Rs. 465.25,-1.30per cent), GTL Infrastructure Ltd. (Rs. 1.66,-1.19per cent), Tata Consultancy Services Ltd. (Rs. 1883.00,-1.13per cent), Zee Entertainment Enterprises Ltd. (Rs. 219.20,-1.08per cent),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total s

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Story first published: Thursday, August 29, 2013, 9:48 [IST]
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