Markets are trading in a narrow range.

Date : Jul-07-2009 14:42

The markets are still trading higher with a narrow range. The investors are now actively participating in the markets today and want to bet safely. Further the positive opening of the European markets failed to cheer the investor’s sentiments today. The significant buying is seen among the FMCG, Auto, Capital Goods and Consumer Durables stocks. However, Metal, Oil & Gas and Realty stocks are still remained under pressure.

The BSE Sensex is now trading above the 14,100 mark and the NSE Nifty around the 4,200 mark.

The overall market breadth is negative as 903 stocks are advancing while 1549 stocks are declining in BSE.

ITC reported the top gainer from the BSE Sensex pack, as it is trading up by (6.55%) at Rs. 210.75 while ONGC reported the top loser trading down by (2.81%) at Rs. 1,040.25.

At 2.33PM the BSE Sensex is trading up by 169.97 points at 14,213.37 and the NSE Nifty is trading higher by 43.20 points at 4,208.90.

The BSE Mid Cap increased by 29.02 points to 4,947.90 while the BSE Small Cap fell by 38.97 points to 5,523.90.

The FMCG index is trading with gains of 85.49 points or 3.70% at 2,397.98. Gainers from this pack are Marico Ltd trading up by 7.50% at Rs76.70 along with ITC by 6.93% at Rs211.50, United Spirits by 4.41% at Rs867.35, Godrej Cons by 4.29% at Rs170.05, Britannia by 2.50% at Rs1610 and Colgate Palmolive by 2.45% at Rs624.

The Auto index is trading up by 160.41 points or 3.60% at 4,620.37. Leading the rally are Exide Inds trading up by 6.56% at Rs68.25 followed by Hero Honda Motors by 5.70% at Rs1436.10, Mahindra and Mahindra by 5.28% at Rs747.90, Bajaj Auto by 3.41% at Rs988 and Ashok Leyland by 2.56% at Rs30.05.

The most active shares on NSE are Unitech trading at Rs 75.55 with a total traded quantity of 48358121 shares followed by Suzlon Energy trading at Rs.97.25 with a total traded quantity of 37299307 shares.

On the global markets front, the European markets are now trading higher as the FTSE 100, DAX and CAC 40 index are trading up by (0.40%), (0.33%) and (0.26%) respectively.

India allocates Rs 500 cr for rehabilitation of Tamils

New Delhi, Jul 6 (PTI) In a special gesture, India today allocated Rs 500 crore for rehabilitation of the internally displaced ethnic Tamils and reconstruction of Northern and Eastern Sri Lanka devastated by two decades of war.

The allocation was made in the general Budget 2009-10 presented by Finance Minister Pranab Mukherjee in Parliament.

While announcing the allocation, he said the government is committed to ensuring that the Sri Lankan Tamils enjoy their rights and legitimate aspirations within the territorial sovereignty and framework of the country's constitution.

He said MEA was working closely with Sri Lankan Government to ensure rehabilitation of the displaced people.

Speaking on the issue later, Foreign Secretary Shivshankar Menon said the allocation has been made as per the commitment made by Prime Minister Manmohan Singh.

PTI

Highlights of Union Budget 2009-10

New Delhi, July 6 (PTI) Following are the highlights of Budget 2009-10.

* IT exemption limit raised

* Limit raised by Rs 15,000 for sr.citizens (65 yrs & above)

* Limit raised by Rs 10,000 for general tax payers & women

* 10% surcharge on personal income tax scrapped

* Fringe Benefit Tax, Commodities Transaction Tax abolished

* Corporate Tax unchanged; Minimum Alternate Tax hiked to 15%

* Legal services brought under Service Tax net

* Cosmetic & plastic surgery become taxable services

* Rs 3472 cr for Commonwealth Games, up from Rs 2112 cr

* LCD TVs to become cheaper; Set-Top boxes costlier

* Stimulus for print media for another six months

* Branded jewellery to become cheaper; excise duty goes

* Govt plans to bring back economy to high growth of 9%

* GDP growth dipped to 6.7% in FY'09

* Fiscal deficit up from 2.7% to 6.

Soruce:PTI

SC urged to review gay ruling

Lucknow, July 4: Students and teachers of Lucknow’s City Montessori School (CMS), the world’s largest school in terms of enrolment have appealed to the chief justice of India to review the Delhi High Court’s judgement on decriminalising homosexuality.

"On behalf of our 37,000 students and hundreds of teachers, we have forwarded a letter to Justice K G Balakrishnan, requesting him to urgently hold a sitting of the full bench of the Supreme Court (SC) to review the judgement," Jagdish Gandhi, founder manager of CMS, told reporters here onSaturday. The Delhi High Court’s judgement will strengthen the already disintegrating structure and fabric of Indian society and ethos, Gandhi said. Students and teachers of the school are of the view that champions of gay rights are only a microscopic minority in India. Law should be enacted and so interpreted as to ensure protection of culture and moral values of the vast majority, they said.

"Law is to maintain social issues and morality, but the unfortunate verdict of the High Court tends to mislead youth and it will cause break-ups in society and family and will tarnish the Indian culture and tradition," said Gandhi. The CMS is in the Guinness Book of Records for maximum enrolment of pupils. (IANS)