For Quick Alerts
For Daily Alerts

Markets opens steady; await Rail, Union Budget

Markets opens steady; await Rail, Union Budget
Benchmark indices opened the day steady, with the Sensex trading marginally lower by 11 points, while the Nifty was down 4 points in early trade.

Among the prominent index losers in trade were BPCL, Ultratech Cement, Reliance, ITC,Cipla and Coal India.

Non Banking Finance Companies were in the limelight after the Reserve Bank of India declared guidelines for new banking licences. Among the gainers from the sector were Shriram Transport Finance, L&T Financial Services, Mahindra and Mahindra Financial Services and Reliance Capital.

Shares of Power Finance also rallied after the company said its board would discuss applying for a bank licence.

Maruti Suzuki rallied despite awaiting an order from the Competition Commission of India on a few automobile companies that are using their dominant position in the country.

PSU banking stocks continued to find buyers at lower levels with State Bank of India, Syndicate Bank, Canara Bank, Bank of India and IDBI Bank all gaining in early trade.

Realty stocks were a little subdued in trade today with DLF dropping 1.5 per cent after rallying sharply on Friday. Other stocks from the industry saw marginal buying with Indiabulls, HDIL and Oberoi Realty among the gainers.

Metal stocks saw buying at lower levels with early gainers from the sector including JSW, Nalco, Hindalco and Tata Steel.

Meanwhile, markets in Asia were trading firm led by sharp gains in the Japanese Nikkei. Other Asian markets that were up included the Korean Kospi and the Singapore Strait Times.

Read more about: sensex nifty
Story first published: Monday, February 25, 2013, 9:52 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more