Markets remain well placed in the green on last day of the week

Despite coming off the day's high level, the local equity markets remain well placed in the positive territory at this point of time. Both the Bombay Stock Exchange (BSE) benchmark Sensex and National Stock Exchange (NSE) Nifty indexes are trading above their psychological levels of 18,500 and 5,500. Other key Asian markets are all trading well in the green and US index futures too are showing an up-tick in screen trade. Back home, except capital goods segment which was down by 1.04%, all the sectoral indices were trading in the green. Among them, auto, banking, power, information technology and healthcare counters were leading the gains on the BSE sectoral space. Meanwhile, the banking segment is trading in the positive zone since morning following Cabinet giving its nod to the Banking Regulation (Amendment) Bill, which proposes to increase the voting rights of foreign investors in private sector banks. The Bill - which seeks to align the voting rights of foreign shareholders in banks in proportion to their equity holding - will make it easier for banks to raise capital. The broader markets were also moving higher with BSE mid-cap and small-cap indices gaining 0.37% and 0.38%, respectively. The market breadth on the BSE was positive; the gainers thrashed the losers in a ratio of 1572:1093 while 123 shares remained unchanged.

The BSE Sensex soared 103.66 points or 0.56% at 18,593.42. The index touched a high and a low of 18,736.97 and 18,526.22, respectively.

The BSE Mid-cap and Small-cap indices rose 0.37% and 0.38%, respectively.

All the sectoral indices on the BSE with an exception of Capital Goods (CG), which was down by 1.04% were trading higher. Auto up 1.23%, Bankex up 1.07%, Power up 0.71%, Information Technology (IT) up 0.70% and Healthcare (HC) up 0.64% were the major gainers on the index.

Meanwhile, drug maker Cipla has launched a breakthrough screening technology called the No Touch Breast Scan (NTBS) in India recently. NTBS is the first painless, non-invasive and radiation-free breast scanning technique for detecting breast cancer at an early stage.

Three centres across India have already installed the 40 lakh worth machine. The cost of each NTBS test would range between Rs 800 to 1000, depending on the pricing determined individually by the hospitals and centres. With introduction of this technology in India, Cipla has entered into the diagnostic market.

Developed by UE Life Sciences, the NTBS is the world's first fully computerized thermal imaging technology with dual IR cameras which can find thermal changes at less than 0.08 degree C. The NTBS using infrared imaging creates a sophisticated heat-map of the breast without using any radiation. Thermal imaging has been approved by the FDA several years ago for early diagnosis of breast cancer.

Breast cancer is associated with increased formation of new blood vessels and this show up as 'hot spots' which could indicate a cancerous growth. Today, one in every 22 women in India is expected to be diagnosed with breast cancer.There are NTBS machines available in the US, UK, Turkey, Sri Lanka and Kazakhstan, but women in India would have greater access to this landmark technology and have more control over their breast health.

The top gainers on the Sensex were Tata Power up 2.55%, Hero Honda up 2.45%, Jindal Steel up 2.14%, HDFC up 2.08% and Bajaj Auto up 1.98%.

On the flip side, L&T down 2.07%, JP Associates down 1.81%, Bharti Airtel down 0.70%, ONGC down 0.56% and Hindalco Inds down 0.43% were the major losers on the index.

Resuming their composite dialogue process, India and Pakistan will hold Secretary-level talks on anti-terrorism measures and steps to check drugs trade on March 27 and 28. The meeting will be held in New Delhi following last month's meeting between Pakistani Foreign Secretary Salman Bashir and his Indian counterpart Nirupama Rao in the Bhutanese capital Thimpu, and Pakistan and India announced the resumption of bilateral peace talks.

The talks will be mainly focused on progress made by Pakistan in the trial of Mumbai suspects. Seven suspects are being tried in Pakistan for allegedly masterminding and facilitating Mumbai attacks. India has also Pakistan to allow a team to question some persons in Pakistan suspected of involvement in the Mumbai attacks.

Meanwhile, India had pulled out of talks following the November 2008 bloodshed in India's commercial capital Mumbai which killed 166 people. India had blamed the attacks on terrorist outfits based in Pakistan.

The S&P CNX Nifty jumped 29.20 points or 0.53% to 5565.40. The index touched a high and a low of 5608.20 and 5544.60, respectively. 

The top gainers on the Nifty were Sun Pharma up 3.35%, RPower up 3.13%, Tata Power up 2.89%, Jindal Steel up 2.38% and Bajaj Auto up 2.29%.

On the flip side, L&T down 2.39%, JP Associates down 2.21%, SAIL down 1.05%, Sesa Goa down 0.89% and Bharti Airtel down 0.76% were the major losers on the index.

Other key Asian markets are trading in the green. Shanghai Composite soared 1.28%, Hang Seng rose 1.44%, Jakarta Composite added 1.19%, KLSE Composite gained 1.10%, Nikkei 225 surged 1.02%, Straits Times soared 1.25%, Seoul Composite jumped 1.73% and Taiwan Weighted increased 0.53%.

Unit-8, 3rd Floor, First Mall, The Mall, Ludhiana-141001, Punjab (INDIA).

To unsubscribe or change subscriber options visit: http://www.aweber.com/z/r/?TJzsLEwstCyc7OysHMyctEa0nEzMbMycTA==