Market Opens Firm Note

The key benchmark indices rose in early trade, tracking firm Asian equities. BSE Sensex rose 120.36 points or 0.69%. The size of the market was positive. Index heavyweight Reliance Industries (RIL) recovered on bargain hunting after a recent steep slide. Some stocks of capital goods increased. Reliance Communications (RCOM) and Reliance Infrastructure (R-Infra) increased slightly after plummeting Monday triggered by the decision of the ESB is to remove both Anil Dhirubhai Ambani (ADA) Group share index Sensex BSE barometer. ONGC has hit 52-week low PAN Card for NRI .

At 9:25 IST the BSE Sensex was up 120.36 points or 0.69% to 17,626.99. The Sensex was 136.14 points at day high 17,642.77 in early trading. The index rose 67.74 points to 17574.37 few days in early trading.

S & P CNX Nifty rose 23.90 points or 0.45% at 5281.80 NRI Demat Account.

Extension of the market, shows the health market, has been positive. BSE 797 shares advanced while 408 shares declined. A total of 44 shares remained unchanged.

Among the 30-member Sensex pack, 25 shares rose, while the rest of them fell NRI Share Trading Account.

Index heavyweight Reliance Industries (RIL) gained 1.08% to 845.90 rupees on bargain hunting after recent sharp decline. The stock hit a 52-week low of Rs 829 on Monday, June 20, 2011. The stock has fallen recently, reports of a government watchdog has accused the Ministry of Oil to promote the company by allowing it to double the cost of developing its KG-D6 gas field. According to recent reports, a draft report of the Comptroller and Auditor General of India (CAG) has challenged the decision of the Ministry of Petroleum and its technical arm, the Director General of Hydrocarbons (DGH) for the EFI raise the cost of developing RIL KG-D6 field. The Central Bureau of Investigation (CBI) is looking into the matter NRI Online Trading account.

RIL had said last week it has fully complied with the requirements of its production sharing contract at any time in the execution of oil operations. Meanwhile, RIL is before tax would have jumped 38.46% to RS 900 crore in the first quarter, in June 2011 at the First District in June 2010. Higher pre-tax payment usually indicates an increase in earnings for the period under review.

Oil and Natural Gas Corporation (ONGC) fell 1.6% in the RS 252 and was the top loser from Sensex pack. In stock hit a 52-week low of Rs 250.65 today. The company plans to invest $ 7.7 billion reported for the development of gas field in the block to the east coast and produces up to 30 million cubic meters per day in five years.

Reliance Infrastructure (Infra-R) was 0.32% after the company said after-hours trading on Monday it bought a share lakh, Monday, June 20, 2011, under its buyback program a maximum of RS 1000 crore. To date, the Company purchased 20.50 shares for Rs 129.42 lakh crore. Reliance Communications (RCOM) rose 1.08%.

Reliance Communications and Reliance Infrastructure had fallen 7.89% and 6.07% respectively, on Monday, June 20, 2011, after the Bombay Stock Exchange (BSE), has announced its decision to remove these two shares of Reliance ADA Group barometer index BSE Sensex. State-owned coal giant coal in India and Sun Pharmaceutical major drug companies to replace R-Infra and RCOM in the Sensex since August 8, 2011

HCL Technologies fell 0.53%. The company has signed a five-year contract product engineering services pact with U.S. firm Xerox. No financial details were disclosed. HCL will provide Xerox board, mechanical and software engineering services for certain lines of Xerox imaging products.

Capital goods stocks rose by bargain hunting. Larsen & Toubro, Punj Lloyd and BEML increased from 0.12% to 1.85%.

Foreign direct investment (FDI) in Mexico recovered in April 2011, increased investment in service sectors, construction and automotive, reversing a sharp fall in the previous year, the government said Monday.

On the political front, the Supreme Court on Monday rejected the means to rescue Kanimozhi DMK MP and co-defendant Sharad Kumar, CEO of Kalaignar TV, in a case involving the allocation of 2G spectrum fraud.

Asian stocks rose on Tuesday, tracking overnight gains in U.S. stocks. Benchmark indices in China, Hong Kong, Indonesia, South Korea, Japan, Singapore and Taiwan rose by between 0.22% and 0.76%.

The U.S. index futures said the Dow could drop three points at the opening bell Tuesday, June 21, 2011.

Global markets closely monitor the outcome of a vote of confidence in the new Greek cabinet reshuffle is due to face Tuesday, June 21, 2011, which could pave the way for the nation for a second round of funding bailout.

Finance ministers from the euro gave Greece two weeks from Monday to approve the strict austerity measures in exchange for other $ 12 million in emergency loans, increasing the pressure on Athens to get your finances in order irregular. Fitch Ratings said Tuesday it would be both against a sovereign debt exchange in Greece and an extension of terms, though a volunteer, as a default.

Federal Reserve holds its next policy meeting Tuesday, June 21, 2011 and Wednesday, June 22, 1011, and will present his policy statement after the conclusion of the meeting. Second round of the Fed quantitative easing or QE2, a temporary policy intended to increase the money supply, to keep interest rates low and stimulate the economy, will expire June 30, 2011. Part of the market speculated on the possibility of a third quantitative easing program, the Fed, after the expire in June 2011.


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