Wednesday 10 December 2014

Closing Summary, Market Synopsis: 10 th December, 2014

After a volatile day of trade, the market ended on a flat note: Indian stocks bounced back on Wednesday, as sentiment got a boost as China markets surged. The Nifty closed above the crucial psychological level of 8,350. Insurance stocks edged higher after the Parliamentary Select Committee cleared the government's proposal of an increase in cap on foreign investment in the insurance sector to 49% from 26%. The market breadth indicating the overall health of the market was strong.
The government could soon finalise the proposal for coal linkage rationalisation and swapping arrangements of about 40 thermal power projects, a move that is expected to save up to Rs 6,000 crore in logistics cost. The proposal includes swapping agreements for power projects of companies including Adani Power, Indiabulls Power and NTPC, among others.

Photo: Closing Market Update:
After a volatile day of trade, the market ended on a flat note: Indian stocks bounced back on Wednesday, as sentiment got a boost as China markets surged. The Nifty closed above the crucial psychological level of 8,350. Insurance stocks edged higher after the Parliamentary Select Committee cleared the government's proposal of an increase in cap on foreign investment in the insurance sector to 49% from 26%. The market breadth indicating the overall health of the market was strong.
The government could soon finalise the proposal for coal linkage rationalisation and swapping arrangements of about 40 thermal power projects, a move that is expected to save up to Rs 6,000 crore in logistics cost.  The proposal includes swapping agreements for power projects of companies including Adani Power, Indiabulls Power and NTPC, among others.

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