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India Business News: MUMBAI: It is not just customers who look forward to the festive season in hopes of discounts and freebies - dealers, too, get target-based incentives.
The 30-share BSE Sensex pack surged 304 points or 0.44 per cent to hit an all-time high of 67,771, while the NSE Nifty moved 97 points or 0.47 per cent up to scale a fresh peak of 20,168. Broader market (mid- and small-cap) shares were positive as Nifty Midcap 100 climbed 0.91 per cent and small-cap gained 1.23 per cent.
Top mutual funds bought fresh stakes in Inox Wind, BSE, RPG Life Sciences, Shivalik Bimetals Control and Thomas Cook (I) and hiked their holdings in Suzlon Energy, Minda Corp, SJS Enterprises and Medplus Health Services, according to a Nuvama report
Considering the momentum in key sectors, if the Nifty50 decisively surpasses 19,500, then 19,650 is expected to be the crucial area for sharp up-move, while the critical support remains at 19,300-19,250, experts said
Orient Cement Ltd had approached the AAR seeking ruling in whether ITC can be claimed on distribution of gold coins and white goods to its dealers upon achieving a specified target fixed under the scheme.