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Markets touch 28,000 intraday
Wed, 5 Nov Closing

After touching a new high of 28,000 twice during the day, the indices lost momentum in the final hours of trade thus closing below that level. While the BSE Sensex today closed higher by 55 points, the NSE-Nifty closed higher by 14 points. Midcaps and Smallcaps too witnessed a rise today. While the BSE Mid Cap index closed the day higher by 0.2%, the BSE Small Cap index closed the day higher by 0.8%. Sectoral indices closed the day on a mixed note, with metal and power stocks being the top losers today.

As regards global markets, Asian indices closed on a mixed note today. The rupee was trading at Rs 61.38 to the dollar at the time of writing.

FMCG stocks ended the day on a mixed note. P&G Hygiene and Colgate were the biggest gainers. The management of FMCG major Nestle's MNC parent has stated its optimism regarding the growth prospects of the Indian market, and plans to strengthen its presence in the diverse segments it does business in. This includes its myriad business segments such as health and nutrition, in which it plans to make further investments. The management's comments testify to the company's long term commitment to invest aggressively in its Indian business.

Engineering stocks ended the day on a mixed note. Emco and Sanghvi Movers were the biggest gainers today. As per a leading business daily, power equipment major BHEL has bagged a contract for the supply and installation of the electrostatic precipitator (ESP) package for the super critical 2x800 MW Darlipali thermal power project. The order is valued at around Rs 2.2 bn, and has been placed on BHEL by NTPC for its upcoming project of super critical rating in Odisha. It may be noted that with the company having secured this large order, 13 of the 18 ESPs ordered for the 660/800 MW supercritical units of NTPC under the cabinet approved 'Bulk tender' power projects have been secured by BHEL, and is reflective of BHEL's dominance in the power generation equipment industry in India.

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