Pharma continues to be the top loser among sectors, with cuts of over 1 percent on the Nifty Pharma index. Metal stocks are up in trade, led by a surge in Hindalco, Vedanta and Tata Steel.
The Delhi High Court today dismissed the Centre's plea challenging Vodafone's move to initiate two international arbitrations against India in connection with a tax demand of Rs 11,000 crore under a retrospective law of 2012.
Justice Manmohan said the Centre can approach the UK arbitration tribunal under the India-United Kingdom Bilateral Investment Protection Agreement (BIPA) for its grievance.
Justice Manmohan said the Centre can approach the UK arbitration tribunal under the India-United Kingdom Bilateral Investment Protection Agreement (BIPA) for its grievance.
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Vodafone has initiated arbitration proceedings under the India-United Kingdom and India-Netherlands Bilateral Investment Protection Agreement in connection with the tax demand raised against the company in relation to its USD 11 billion deal to acquire the stake of Hutchison Telecom.
Sensex, Nifty maintain the uptrend
The Sensex has continued to trade higher from the morning trade. It is up over 100 points, while the Nifty is maintaining its level around 10,650. In the broader markets space, midcaps are trading marginally higher, while among sectors Nifty Pharma continues to trade over 1 percent lower. FMCG stocks are up in today’s trade, gaining over 1 percent, led by a surge in ITC. Axis Bank, HUL, Hindalco, and Vedanta are the top gainers, while Coal India, Dr. Reddy’s and Lupin lost the most.
The market has given up a shade of the gains from opening minutes. The Nifty is trading around 10,650-mark. Midcaps have given up all of their gains on the back of selling pressure. Maximum cuts are visible in the pharmaceuticals space, with the Nifty Pharma index down over 1 percent. Shares of Ambuja Cements fell over 1 percent during the morning trade as investors reacted to the company’s March quarter results.
The rupee has turned the tide now. The currency has slipped 20 paise at 67.06, tests the lowest level Since February 17, 2017
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Sensex, Nifty maintain the uptrend
The Sensex has continued to trade higher from the morning trade. It is up over 100 points, while the Nifty is maintaining its level around 10,650. In the broader markets space, midcaps are trading marginally higher, while among sectors Nifty Pharma continues to trade over 1 percent lower. FMCG stocks are up in today’s trade, gaining over 1 percent, led by a surge in ITC. Axis Bank, HUL, Hindalco, and Vedanta are the top gainers, while Coal India, Dr. Reddy’s and Lupin lost the most.
The market has given up a shade of the gains from opening minutes. The Nifty is trading around 10,650-mark. Midcaps have given up all of their gains on the back of selling pressure. Maximum cuts are visible in the pharmaceuticals space, with the Nifty Pharma index down over 1 percent. Shares of Ambuja Cements fell over 1 percent during the morning trade as investors reacted to the company’s March quarter results.
The rupee has turned the tide now. The currency has slipped 20 paise at 67.06, tests the lowest level Since February 17, 2017
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Bharti Airtel, Axis Bank, Hindalco and Mahindra & Mahindra were the top gainers, while Wipro, NTPC, Lupin and HPCL lost the most. Infosys is also trading over 1 percent higher.
The Sensex was up 110.25 points at 35025.63, while the Nifty was up 31.00 points at 10649.30. The market breadth was positive as 368 shares advanced, against a decline of 113 shares, while 48 shares were unchanged.
Shares have begun the week on a good note, with the Sensex gaining over 100 points, while the Nifty is trading around 10,650-mark.
The Sensex was up 110.25 points at 35025.63, while the Nifty was up 31.00 points at 10649.30. The market breadth was positive as 368 shares advanced, against a decline of 113 shares, while 48 shares were unchanged.
Shares have begun the week on a good note, with the Sensex gaining over 100 points, while the Nifty is trading around 10,650-mark.
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