At the close, the benchmark 30-share index, BSE Sensex gained 216.98 points or 1.19% at 18,439.65 with 25 components posting rise. Meanwhile, the broad based NSE Nifty went up by 57.65 points or 1.06% at 5,520.80 with 40 components registering rise.
The regulator has served Reliance Industries a show-cause notice on why action should not be taken against the company in the matter of the conversion of the warrants, which increased the promoters' stake in the company from 22.17% to 38.8% in March 2000. The company has 14 days to respond to the show-cause notice. RIL officials declined to comment. RIL has the option to go in for consent proceeding, under which it can settle the charges by paying a fine, without admission of any wrongdoing.
| FOR TODAY: Political situation eased a bit which gave the markets support in its uptrend. More strength can be seen in the markets if crude comes down near to USD 101.EU as well as US markets were closed well in GREEN. Today, all Asian markets are trading in GREEN. SGX Nifty is trading at 5548.50, up 11.50 indicating nifty may open around 5550 area which is also a minor resistance area. On the upside, if nifty spot able to trade above 5555 area, we may see 5577/5590/5602 today itself. On the downside, major support is now at 5524/5500/5460 area. |
