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Markets remain upbeat, ICICI Bank gains 1.5%
December, 30th 2011

Markets continue to hold on to their gains amidst volatility with the Sensex and the Nifty hovering around 15,600 mark and 4,675 levels, respectively.

By 1125, the Sensex was up 80 points at 15,624 and the Nifty gained 23 points to 4,670.

ICICI Bank has rebounded after witnessing sharp fall for last three trading session, rising 1.5% at Rs 697. SBI has gained 1% at Rs 1,640.

From the technology space, Infosys and TCS have gained 1% each. The rupee declined by 17 paise to Rs 53.24 per dollar in early trade on the Interbank Foreign Exchange today on the back of increased demand for the American currency from importers and strengthening of the dollar against the euro overseas.

Tata Motors is the top Sensex gainer, up 2% at Rs 182. Maruti Suzuki and Hero MotoCorp have gained 1% each. However, Bajaj Auto has topped the selling list, dropping by 1%.

Index heavyweight Reliance Industries is trading with marginal gains, up 0.45%. ONGC has spurted by 1%.

In the capital goods space, BHEL has gained 0.57% at Rs 239.

However, Jindal Steel and M&M have fallen by almost 1% each. Shares L&T, NTPC and HUL are trading marginally weak, all declining between 0.2-0.4%.

The BSE mid-cap and small-cap indices maintain the steady movement, both gaining between 0.4-1%.

Among midcap and smallcap space, Godrej Properties has surged 2% to Rs 629. The company has raised Rs 45 crore by selling 49 per cent stake in its arm to private equity firm Sun Apollo.

Lupin has gained nearly 0.49% to Rs 442. The US health regulator has granted approval to Lupin to market generic Fenofibrate tablets, a cholesterol lowering drug, in the American market. 

Power Finance Corporation (PFC) has rallied 5% to Rs 138 on reports that the state-owned company will launch medium- to long-term infrastructure bonds in the first week of January to raise around Rs 5,000 crore.

GTL Group shares -GTL and GTL Infrastructure are trading higher by 5% each after these companies said they received letter of approval from the Corporate Debt Restructuring (CDR) Cell, Mumbai, for restructuring loans.

The overall market breadth remains positive with 1,319 stocks advancing while 939 declining.

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