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Realty stocks surge today
Thu, 29 Jan Closing

After opening in the red, the indices gained momentum in the final hours of trade thus closing in the positive. While the BSE Sensex today closed higher by 122 points, the NSE-Nifty closed higher by 38 points. Smallcaps too witnessed a rise today; midcaps however saw a decline. While the BSE Mid Cap index closed the day lower by 0.4%, the BSE Small Cap index closed the day higher by 0.1%. Sectoral indices closed the day on a mixed note, with realty and energy stocks being the top gainers today.

As regards global markets, Asian indices closed on a negative note today. The rupee was trading at Rs 61.49 to the dollar at the time of writing.

Textile stocks have ended the day on a mixed note with the gainers being led by Arvind and Bombay Dyeing. As per a leading business daily, the new National Textiles Policy is slated to be unveiled after the upcoming Union Budget next month. In the backdrop of the various changes that have taken place in the textile industry on both the domestic and international fronts, the Ministry of Textiles had initiated the process of reviewing the National Textile Policy, 2000. The new policy is expected to be a long term road map for the textile and apparel industry and aims to achieve US$ 300 bn exports by FY25.

Hotel stocks too ended the day on a mixed note. EIH and Taj GVK were the biggest losers today. As per a leading business daily, the Indian Hotels Company may be able to operate its Taj Mahal Hotel property in New Delhi for another 4 to 5months despite its current lease agreement expiring this weekend. This comes on the back of the fact that the New Delhi Municipal Council (NMDC) has yet to finalise the terms for auctioning the hotel property. It is worth pointing out here that this will be the sixth temporary extension given to the company after its 33 year lease with NDMC came to an end in October 2011.

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