Mumbai: The wait for union budget 2007 is creating new highs almost on a daily basis in the stock market. Achieving yet another milestone, Sensex touched 14,697.69 on Bombay Stock Exchange on Thursday.
Stock markets are on an upward march with Sensex gradually inching towards 15,000 level. At 10:15 hours IST, BSE 30-share index Sensex was up 47points at 14,690 while Nifty was up 3 points at 4,227.
Major gainers in the opening trade were HLL, Rel Comm, ACC, Hindalco, Satyam, Tata Steel, Bajaj Auto, Infosys, TCS. Losers list contains Tata Motors, Maruti during the opening trade.
Foreign Institutional Investors (FIIs) continued their buying spree and reportedly picked up shares worth Rs 1,665.60 crore in three trading sessions from February 2 and also pumped in Rs 543.30 crore (provisional) on February 7.
Domestic mutual funds, however, remained net seller. Dealers said the market is consolidating at the current higher levels before making any move ahead of the Union Budget on February 28.
The BSE has reviewed its ‘free float factors’ for IT major Infosys, Reliance Industries and Gujarat Ambuja Cements, based on the recent shareholding data filed by the companies.
The free-float factor is determined by the percentage of floated shares (trading in the open market) to outstanding shares.
For example, if a company has a float of 10 million shares and outstanding shares of 12 million, the percentage of ‘float to outstanding’ is 83 per cent.
The index is calculated when weighting the effect of a company on the index. The free float factor is also used to calculate the market capitalisation of companies.
Market cues:
- FIIs net buy USD 144.3 million in equity on February 6
- Feb 6 FII figure includes USD 192 million from TCS block deal
- FIIs have net bought nearly USD 500 million in equities in last 4 days
- MFs net sell Rs 28 crore (Rs 280 million) in equity on February 6
- NSE F&O Open Interest up by Rs 1,813 crore (Rs 18.13 billion) at Rs 59,372 crore (Rs 593.72 billion)
Comments
0 comment