The BSE Sensex Rises

The Bombay Stock Exchange benchmark Sensex advanced more than 180 points today. The BSE closed at 17738.84 after gaining 188.21 points or 1.07% and the National Stock Exchange's Nifty closed at 5323.80, up by 45.50 points or 0.86%.


Market analysts have predicted that the gain was led by Consumer Durables, FMCG, Anil Dhirubhai Ambani Group, Oil & Gas and IT stocks. Healthcare, metals and realty stocks did not perform well on the stock exchange.

According to Gautam Shah of JM Financial, a close at 5200 is a very important support for the Nifty. He further said, “We are likely to be range-bound in the 5200-5400 bands for a while, if by any chance, we do break it in the near-term, then we could crash another 7-10% at one go”.

Reliance Industries was the top gainer on Nifty with a rise of nearly 3% and the ONGC jumped 1.5%. From the FMGC sector, the ITC and HUL rose .4% & 2%, respectively. In the technology sector, TCS, Wipro, Infosys and HCL Tech went up between 1and 1.5%.

In the banking sector, SBI and ICICI Bank jumped 1% each whereas HDFC Bank gained 0.5%.

High Court Postpones the Hearing of Tata’s Request against the Singur Land Act

On Thursday, the Calcutta High Court has postponed the hearing of Tata Motors’ petition against the Singur Land Rehabilitation and Development Act, 2011. Tata Motors has challenged the Act passed by the West Bengal Assembly ordering the company to return the land. The court has said that the matter will be discussed at 11 a. m. on Friday.


The court has also ordered the Hooghly District Magistrate to submit a report on employment of police force at the site and maintenance of law and order in the region. The report must also clarify whether assets have been looted or stolen from the factory as reported by the media and as submitted by the Tata Motors' lawyers.

The ancillary units that were a part of the Tata Nano project in Singur are preparing for a legal fight with the state government after Tata Motors' challenged the Singur land return bill. The Managing Director of Lumax, a leading auto electronic component manufacturer, D K Jain, told the TOI that they might go to court in line with Tata Motors. He added that their company is left with no choice and have to take the legal action.