Sensex crosses 3,800, falls back

March 10: After volatile movements, pivotals ended with losses on the Bombay Stock Exchange (BSE) today amidst alternate bouts of buying ...

March 10: After volatile movements, pivotals ended with losses on the Bombay Stock Exchange (BSE) today amidst alternate bouts of buying and selling. Pharma and software counters, however, attracted fresh buying support on expectations that the Patents Bill will be passed by the Parliament.

The BSE sensitive index (Sensex) which surpassed the important 3800 mark during the mid-session (day’s high of 3804.00), fell sharply to the day’s low at 3689.21 but recovered partially to finish at 3743.37, showing a net loss of 40.74 points from the previous close of 3784.11. The BSE-100 index eased by 3.65 points to 1635.18 as against the previous close of 1638.83.

Brokers said the sentiment was weak during the mid-session following selling pressure by bull operators and profit-taking by foreign funds. Banking scrips which saw smart gains during last couple of trading sessions fell sharply on selling pressure. SBI, ICICI Banking, Global Trust Bank, Corporation Bank, Bank of Baroda and Bank of India hit the downward circuit filters.

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The sentiment turned better towards the end following buying by FIIs on reports that the controversial Patents (amendment) Bill was passed in the Lok Sabha. Among the specified group, MRF, Pentafour Software, Ranbaxy Lab, Dr Reddy, Hind Lever Chem, Bharat Forge, Telco, Gujarat Gas, Siemens, Lakme, Sun Pharma, Arvind Mills, Ashok Leyland and Godrej Soaps hit the upper circuit band exhausting their daily price limits.

The total volume of business was higher at Rs 2474.37 crore against Rs 2372.58 crore registered yesterday. Pentafour Software shot up by 79.75 to 1077, ITC by 5 to 991, Satyam Computer by 24 to 1335.75 and Telco by 14.60 to 197.60. However, SBI dropped by 17.90 to 207.

Govt clears decks to let Adani plant for Bangladesh link to India grid

India58 min ago

The Centre has approved Adani Power Limited's Godda Ultra Super Critical Thermal Power Plant to connect to the Indian grid, allowing them to sell power to domestic discoms. The plant, previously supplying electricity to Bangladesh, can now cater to India's power demand for 25 years, subject to compliance with regulations and guidelines.

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