Nifty hovers around 8350, midcap rises; UltraTech hits new high
The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.2-0.3 percent. Even the market breadth was positive as about 1049 shares advanced against 861 declining shares on the Bombay Stock Exchange.
Equity benchmarks continued to consolidate after a rally in previous six sessions. The Sensex fell 28.80 points to 27249.96 and the Nifty declined 15.55 points to 8355.15.
The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.2-0.3 percent. Even the market breadth was positive as about 1049 shares advanced against 861 declining shares on the Bombay Stock Exchange.
Equity benchmarks continued to consolidate after a rally in previous six sessions. The Sensex fell 28.80 points to 27249.96 and the Nifty declined 15.55 points to 8355.15.
The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.2-0.3 percent. Even the market breadth was positive as about 1049 shares advanced against 861 declining shares on the Bombay Stock Exchange.
UltraTech Cement touched a record high of Rs 3,600 intraday in opening but came off day's high on profit booking. The company finalised acquisition of 21.2 MTPA cement capacity of Jaiprakash Associates for Rs 16,189 crore. JP Associates rallied 35 percent. Meanwhile, there will be announcement of cabinet reshuffle today.
As many as 19 new ministers, half a dozen of them from Uttar Pradesh which goes to polls in 2017, are set to be inducted into his team by Prime Minister Narendra Modi.
According to sources, the expansion-cum-reshuffle being carried out by Modi is also expected to see elevation of at least one minister to Cabinet rank. Some of the 19 new ministers are expected to get Independent charge, the sources said.
As many as 19 new ministers, half a dozen of them from Uttar Pradesh which goes to polls in 2017, are set to be inducted into his team by Prime Minister Narendra Modi.
According to sources, the expansion-cum-reshuffle being carried out by Modi is also expected to see elevation of at least one minister to Cabinet rank. Some of the 19 new ministers are expected to get Independent charge, the sources said.
Read More - Nifty And Sensex Updates
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