Sensex, Nifty@record high; top ten stocks in focus

NEW DELHI: Bucking the global trend, Indian benchmark indices rose to their fresh record highs in trade on Monday, led by gains in capital goods, banks, auto and oil & gas stocks.

The S&P BSE Sensex rose as much as 163 points in trade to hit its fresh 52-week high of 26582.27 and Nifty rose 44 points to hit its fresh life high of 7957.70 in trade today.

At 10:10 a.m.; the 30-share index was at 26,545, up 125 points or 0.48 per cent. It touched fresh record intraday high of 26,582.27 and a low of 26,490.31 in trade today.

The Nifty was at 7,940, up 27 points or 0.35 per cent. It touched record intraday high of 7,957.70 and a low of 7,927.75 in trade today.

Here is a list of ten stocks which are likely to be in focus today:

ONGC, OIL: A four-member committee of secretaries (CoS) set up by the government to review the gas-pricing formula will on Monday hold its first meeting with stakeholders, media reports said quoting a petroleum ministry source.

At 10:10 a.m.; ONGC was trading 0.3 per cent higher at Rs 428, while OIL was up 0.6 per cent to Rs 601.70.

Reliance Industries Ltd: While a secretaries' panel set up last week is about to go into the vexed issue of gas pricing, Reliance Industries chose not to withdraw an arbitration notice sent to the Centre in May for the latter's failure to keep the promise of a new gas price from July. RIL has written to the petroleum ministry contending that the government is not within its right to compel it to sell gas at below market price, said media reports.

At 10:10 a.m.; the stock was trading 0.6 per cent higher at Rs 1004.

Jet Airways Ltd: Credit-rating agency ICRA has downgraded Jet Airways' debt to "D" rating from "BB" after it "got information" on payments by the airline. According to Icra's rating scales, "Instruments with 'D' rating are in default or are expected to be in default soon."

At 10:10 a.m.; the stock was trading 3.9 per cent lower at Rs 235.

Financial Technologies Ltd: The Securities Appellate Tribunal (SAT) has asked Jignesh Shah-promoted Financial Technologies to approach Sebi for seeking extension of time for divesting existing holdings in MCX-SX and four other entities.

At 10:10 a.m.; the stock was trading 3.2 per cent higher at Rs 275.25.

GAIL India Ltd: The Narendra Modi government has pulled out from the cold storage a Rs 10,000 crore pipeline project that would make it possible to provide CNG and PNG services in these cities and revive sick fertilizer plants in the region.

At 10:10 a.m.; the stock was trading 1 per cent lower at Rs 428.20.

TCS & ITC Ltd: Tobacco-to-FMCG conglomerate ITC has replaced Tata group's IT giant TCS as the country's most admired company on a Fortune magazine list, which has got as many as 19 new entrants including Cognizant, Birla group firm Idea Cellular and discom BSES Rajdhani Power Ltd.
At 10:10 a.m.; TCS was trading 1.06 per cent higher at Rs 2490 and ITC was 0.4 per cent higher at Rs 345.10.

Jindal Steel Ltd: Naveen Jindal's JSPL says its stand against the BOlivian government has been vindicated by Paris based the International Chamber of Commerce which has ordered Evo Morales' Bolivian government to pay the company $22.5 million.

At 10:10 a.m.; the stock was trading 2 per cent lower at Rs 288.20.

Asian Paints Ltd: The paint company on Friday said its step-down subsidiary Berger International Ltd (BIL) has filed an application for investment approval with the regulatory authorities for setting up a paint manufacturing facility in Indonesia.

At 10:10 a.m.; the stock was trading 0.2 percent higher at Rs 611.90.