Indian shares up in mid-session trade on sustained buying by foreign funds |
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Mon, 23 Jul 2007 08:27
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MUMBAI (Thomson Financial) - Indian shares traded higher in mid-session trade on sustained buying interest from foreign funds, dealers said.The market undertone stayed bullish on the back of strong quarterly earnings detailed by most companies so far, the dealers added.At 0639 GMT, the Bombay Stock Exchange's benchmark 30-share Sensex was trading at 15,621.65, up 0.36 pct or 56.10 points.The National Stock Exchange's broader S&P CNX Nifty was at 4,583.50 points, up 0.38 pct.Hindustan Unilever Ltd continued to be the top gainer amongst BSE-30 stocks, after it said it will consider a share buyback at its July 29 board meet. The stock had gained 3.99 pct at 202.00 rupees.Larsen & Toubro Ltd and Bharat Heavy Electricals Ltd rose 3.58 pct each to 2,563.80 rupees and 1,707.00 rupees respectively, as the thrust to infrastructure projects in the country has led to a positive outlook on the sector, dealers said.United Breweries Holdings Ltd climbed 8.21 pct at 730.25 rupees on reports it is planning to sell around 20 pct of its consolidated aviation business to private equity investors.IVRCL Infrastructures & Projects Ltd gained 1.37 pct at 410.00 rupees after a joint venture led by it won a 6.41 bln rupee contract from the government of the Indian state of Andhra Pradesh.Cipla Ltd, the top loser among Sensex constituents, was down 3.88 pct at 193.10 rupees as the fall in its first-quarter net reported Friday weighed on the stock.TFN.newsdesk@thomson.comami/jroCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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OUTLOOK India stocks likely to open higher on easing inflationary concerns 