Intraday Stock Market News and Trading Tips Today 08/03/2013 by http://www.researchvia.com ~ Bank stocks advance

Key benchmark indices continued to hover in the positive terrain in early afternoon trade, with gains in Asian stocks boosting sentiment on the domestic bourses.

Indore, India (prHWY.com) March 8, 2013 - Key benchmark indices continued to hover in the positive terrain in early afternoon trade, with gains in Asian stocks boosting sentiment on the domestic bourses. The market breadth was positive. The barometer index, the 30-share S&P BSE Sensex, was up 120.25 points or 0.62%, off about 50 points from the day's high and up close to 55 points from the day's low. Index heavyweight Reliance Industries (RIL) edged higher after the telecom department on Thursday, 7 March 2013, cleared a proposal to allow companies with Internet permits to also offer basic mobile telecom services by paying a one-time license-conversion fee. Index heavyweight and cigarette maker ITC held firm.

Bank stocks advanced. Aviation shares rose as the government has decided to replace the present Director General of Civil Aviation with more powerful Civil Aviation Authority. The market edged higher in early trade on firm Asian stocks. The market extended initial gains in morning trade. The Sensex and the 50-unit CNX Nifty, both, hit their highest level in more than two weeks. The market held firm in mid-morning trade. The market continued to hover in positive terrain in early afternoon trade.

Reduction of promoter stake to meet the Securities & Exchange Board of India (Sebi) mandated minimum public shareholding of 25% for private companies and 10% for state-run firms will result in supply of equity in the market over the next few months. As per the Sebi mandated minimum public shareholding rule, private-sector companies must cut founders' stake to adhere to the rules by 13 June 2013, while the deadline for state-run firms is 13 August 2013. PSU divestment will also add to share sale glut in FY 2014. The government has set a target of Rs 40000 crore from divestment of government stake in state-run firms and Rs 14000 crore from divestment of stake in non-government companies for FY 2014.

###

Tag Words: free nifty tips, share tips, stock futures tips, mcx tips, nifty options tips

Categories: Finance

Press Release Contact
http://www.researchvia.com/free-trials/

Link To This Press Release:

URL HTML Code