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Markets recoup losses in last hour
Fri, 26 Dec Closing

After trading in the negative territory during post noon trading session, the Indian equity markets recouped losses and closed in the green. While the BSE-Sensex today closed higher by 33 points, the NSE-Nifty closed higher by 27 points. Midcaps and Smallcaps too closed in the green today. While the BSE Mid Cap index was up by 0.41%, the BSE Small Cap index closed higher by 0.02%. Realty and IT stocks were the biggest gainers today.

As regards global markets, Asian pack closed strong today. The rupee was trading at Rs 63.6 odd levels to the dollar at the time of writing.

Real Estate & Construction stocks have ended the day on a mixed note. The stock of VA Tech Wabag closed flat after rallying sharply earlier in the day after the company announced that it won a sewage treatment plant order in Philippines. The order value is Rs 1.75 bn and the company will design and build sewage treatment plant for Maynilad Water Services Inc. The contract also includes O&M services for a period of one year. After this order, VA Tech's Philippines order book stood at Rs 4.5 bn.

Aviation stocks ended strong today with the exception of Jet Airways. The stock of SpiceJet rallied 10% today after the company announced plans to submit a revival plan to the government. As per news reports, the plan entails proposed investment of US$ 200 m from potential investors who may buy the stake from current promoters (Kalanithi Maran). It may be noted that the distressed airline has already received some Rs 170 m from investors recently and it has cleared all its pending dues with the oil companies.

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