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Trading for the week started on a firm footing as key benchmark indices settled with decent gains. The barometer index, the S&P BSE Sensex, rose 198.76 points or 0.70% to settle at 28,439.28. The Nifty 50 index rose 60.10 points or 0.69% to settle at 8,801.05. The Sensex and the Nifty, both, hit their highest closing level in 4-1/2-months.
Key benchmark indices were range bound in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was up 105.79 points or 0.40% at 26,454.89. The Nifty 50 index was up 34.20 points or 0.42% at 8,162.95. Positive leads from Asian markets and overnight rally on the Wall Street boosted investors sentiment in the domestic market.
Key benchmark indices continued to trade on a firm note in early afternoon trade. At 12:18 IST, the barometer index, the S&P BSE Sensex, was up 349.11 points or 1.23% at 28,762. The gains for the Sensex were higher in percentage terms than those for the Nifty 50 index. The Nifty was up 99.80 points or 1.14% at 8,842.35. The broad market depicted strength. There were more than two gainers against every loser on BSE.
An investment of Rs 10,000 in Tata Metaliks has turned to around Rs 40,000 since the beginning of the ongoing financial year till July 22, whereas the benchmark index BSE Sensex gave 10 per cent return during the same period. Other than Tata Metaliks, there are 65 more stocks, which jumped between 100-360 per cent during April 1-July 22 this year.
Seventh Pay Commission continued to effect as stocks markets with both the BSE Sensex and NSE Nifty opening firm on Thursday amid strong global cues. At 9.19 am, Sensex was trading 218.55 points up at 26,958.94, while NSE Nifty was trading 62.40 points up at 8,266.40.
Around 38% of the total of sugarcane dues still to be paid to farmers for the 2015-16 season are to come from five companies, the government said on Wednesday. These are Bajaj Hindusthan Sugars, Mawana Sugars, Modi Sugar, Simbhaoli Sugars and Rana Sugars, it was stated. However, mills have cleared around 92% of the cane prices payable to farmers for the 2015-16 season that will end in September. The total of sugarcane dues for the season so far is estimated to be Rs 4,225 crore, of the cumulative dues of Rs 52,900 crore.