Tuesday, 31 March 2015

After a setback that resulted in a fall of over 300 points from the day's high for Sensex, the market has recovered some lost ground thanks to modest support at lower levels.

Capital goods, bank, realty, IT and metal stocks are well off the day's highs. Healthcare and oil stocks are firm. Automobile stocks too are mostly up in positive territory despiting paring some gains.

The Sensex, which dropped to 27,868.21 from a high of 28,180.64, is now up 5.76 points or 0.02% at 27,981.62. The Nifty ids at 8495.20, up slightly from its previous close, after having declined to 8454.15 from the day's high of 8550.45.

ONGC has shed 2.5%. Punjab National Bank is lower by about 2.3%. Ultra Tech Cement, BHEL, HDFC Bank, Hindalco, Tata Steel, ACC and IDFC are down 1% - 1.75%.

Larsen & Toubro is down marginallly. The company announced that it has been awarded a contract valued at Rs 1432 crore by the Ministry of Defence for the design and construction of seven offshore patrol vessels for the Indian Coast Guard. Earlier in the day, L&T has announced that its construction division secured orders worth Rs 2101 crore across various business segments in this month.

BPCL is up over 5%. Tata Power is trading nearly 4% up and GAIL India is up by about 2.2%. Reliance Industries and Tata Motors are up close to 2%. 

Dr Reddy's Laboratories, Cipla, Sun Pharmaceutical Industries, Hindustan Unilever and Coal India are up 1% - 1.8%.

Hindustan Construction Company has announced that it has received a Letter of Award fromMinistry of Road Transport & Highways for construction of Four Laning of Jamgurihat to end of Biswanath Chariali Bypass in the State
of Assam under SARDP-NE Phase-A on EPC Basis. The value ofthe contract is Rs 392.13 crore.

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