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Indian stock markets trade strong
Fri, 16 Mar 11:30 am

Indian stock market indices are trading strong over the last two hours of trade. Realty and Banking stocks witnessed maximum buying interest while Auto and Consumer Durable stocks witnessed maximum selling pressure.

The BSE-Sensex is up by 192 points, while the NSE-Nifty is up by 61 points. BSE Mid cap and the BSE Small cap are up by 1.07% and 0.76% respectively. The rupee is trading at 50.29 to the US dollar.

Software stocks are trading strong led by NIIT Ltd and Info Edge. According to a leading financial daily, the consulting and outsourcing arm of Wipro Ltd, Wipro Technologies has launched a new cloud based solution for US healthcare market. This is a product aimed at primary care physicians and healthcare providers. These solutions are expected to be of help to the United States' Medical Home and Accountable Care Organisation (ACO) programme. This programme is to enable personalized, affordable and quality care. The solution would be compatible with Smartphones, Tablet PCs and would integrate with remote patient monitoring devices to ensure access to medical records of patients. It would use sms, chat, alerts, reminders, activity workflows to achieve desired result.

Energy stocks are trading strong led by Hindustan Petroleum Corporation Limited (HPCL) and Indian Oil. According to a leading financial daily, a PSU consortium comprising of Gujarat State Petronet Limited (GSPL), Bharat Petroleum Corporation Limited (BPCL), Oil India and Oil and Natural Gas Corporation Limited (ONGC) have emerged as the sole bidders for buying British Gas stake in Gujarat Gas. If this acquisition comes through, it will help the PSU companies enter into downstream gas business. British Gas which is in the process of divesting its 65.12% controlling stake in Gujarat Gas, had earlier extended the bid deadline to March 15 from the earlier February 29 cut-off. The idea was to give more time to companies to discuss the matter with their boards and decide on the bidding process. However private bidders like Adani Group and Torrent Power, who were earlier expected to put in aggressive bids, have stayed away.

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