Profit Prevails in Market Due to Greece
A ray of hope has been aroused in the trade market due to Greece, and the market was seen flowing in profits with all credit going to Germany which paid 769 million Euros in form of bond coupons. With this it has been considered that it would also be able to pay all its debt and would not let economy to dip in recession.
After this news, Nifty was up by 116.80 points, 2.32%, and with this, it was at 5148.75 at the end of the day. Sensex took a big leap and was up by 358.32 points, up by 2.32%, and at the end of the day, it was at 17103.67.
Those who gained in Nifty were Reliance Capital which was up by 5.08%, Reliance Power which witnessed profit of 5.01%, Cairn India which was up by 4.83% and Reliance Communications which was at rise by 4.26%.
Indian rupee declined again at today's trade, and was at two-year low with market seeing revival of the US dollar. Among today's losers, ONGC declined by 2.73%, and BHEL was at 0.75% distress. Shares of ONGC were found declined as Indian Finance Ministry declared that they would double the ONGC subsidy in order to decrease the prices of LPG, diesel and kerosene for consumers.