Tuesday, June 26, 2007

Market update:

The markets closed on a positive note on monday at 14,487 with a gain of 20 points over the previous close on the back of roll over of derivatives position, amid weak Global cues.

The markets were pushed up by index weight scrips like ONGC & BHARTI AIRTEL. There was also support from Capital goods heavy weights L&T & BHEL.

Oil stocks were on the limelight and closed higher.

BEML's FPO price was fixed at 1020-1090. Midcap stocks ended higher and the midcap index closed at a new high.

Banking and technology stocks however closed on a negative territory.

The rupee came under pressure and closed as 40.88 to a Dollar due to monthend purchase by the importers and the oil marketing companies.

The crude was traded around $68/bbl.