Highlights for Today
Market Outlook for the day – Tuesdays’ strong green candlestick after Doji pattern in the previous session suggests more upside move in the coming session.
Cairn India has received environmental nod for raising crude oil production from its prolific Rajasthan fields by 50% to 300,000 barrels per day (15 million tons a year).
Cipla Ltd has acquired 60% stake in a new company in Sri Lanka for $14 million (nearly Rs 85 crore) to market its product in the country. The new company will market the Cipla's products in Sri Lanka.
Adani group will raise $1 billion (Rs 6,000 crore) by selling new shares of Adani Enterprises and raise another $1.5 billion (Rs 9,000 crore) from banks abroad to fund projects both in India and abroad.
Key benchmark indices rallied to fresh intraday high in late trade. A slide in crude oil prices and gains in European stocks underpinned sentiment on the domestic bourses. Markets gained momentum in late hour trade on value-buying in blue-chip stocks. Banks and Capital goods stocks witnessed strong buying and its BSE indices closed 2.28% and 1.93% up respectively. The market breadth indicating the overall health of the market was strong. The BSE Mid-Cap index was up 1.5%. The BSE Small-Cap index was up more than 2%.