Markets continue to move up, NTPC, BHEL dip

NEW DELHI: Sensex erased some gains but was still trading higher at midsession on Monday. Shares of oil & gas, technology, metal and FMCG led the rally and helped the markets to stay on the higher side.

At 1.20 pm, the Sensex was trading 117 points up to be at at 17,182 and the Nifty was up 29 points at 5,148. However, scrips of auto and realty companies' slipped. Selling pressure was witnessed by Bharti Airtel, NTPC, BHEL, SBI, Idea and Suzlon Energy due to which markets came off their day's high.

In the morning session, Sensex opened over 172 points up on buying in heavyweight stocks, led by Reliance Industries.

The Sensex, which gained 142.87 points in the previous trading session, added another 172.71 points to touch 17,237.66 in the first five minutes of trading.

The broad-based National Stock Exchange Nifty gained 45.55 points to 5,164.90 at the same time.

The rally was led by Reliance Industries on reports that the company now plans to invest in the power sector after it acquired a broadband wireless access company last week.

The good start in the market was amplified by an upsurge in the Asian stock market.

TOI

Inflation up at 10.6%

NEW DELHI: Indian inflation broke into double figures in May, hitting 10.16 percent over 12 months from 9.59 percent in April, official data showed on Monday.



The headline wholesale price index figure, likely to add to pressure on the government to control price increases, was above the 9.59-percent median forecast by analysts polled by Dow Jones Newswires.



The government also revised the inflation rate for March to 11.04 percent year on year from a provisional 9.9 percent.

Bhopal gas tragedy: PM asks GoM to submit report in 10 days

NEW DELHI: Concerned over the uproar on the Bhopal gas leak judgment, Prime Minister Manmohan Singh on Monday directed the Group of Ministers (GoM), headed by home minister P Chidambaram, to report to the cabinet within 10 days on all aspects relating to the tragedy.

Manmohan Singh directed that the GoM "may meet immediately to take stock of the situation arising out of the recent court judgement, to assess the options and remedies available to the government on the various issues involved and to report to the cabinet within 10 days", a statement from the prime minister's office (PMO) said here.

The GoM, set up to look into all issues relating to the Bhopal disaster, was reconstituted recently with Chidambaram as the head of the panel.

The empowered GoM also comprises health and family welfare minister Ghulam Nabi Azad, law minister M Veerappa Moily, minister for urban planning S Jaipal Reddy, minister for roads and highways Kamal Nath, tourism minister Selja, minister for fertilisers and chemicals MK Alagiri, minister of state in the PMO Prithviraj Chavan and environment minister Jairam Ramesh.

Madhya Pradesh's minister in-charge of rehabilitation will be a permanent invitee to the panel.

TOI