MUMBAI: Refiner Essar Oil Ltd on Monday said its board had approved delisting of shares from the BSE Ltd and National Stock Exchange of India Ltd.

Essar Oil, a unit of the diversified Essar Group, said its board met on Sunday to decide on the proposal.

Markets extended gains and were trading near their day's highs led by index heavyweights ITC and Reliance Industries.

At 1:55 PM, the 30-share Sensex was up 25,411 up 380 points and the 50-share Nifty was up 96 points at 7,590.

Benchmarks BSE Sensex and NSE Nifty today extended losses for the third day and ended at two-week lows dragged down by Mahindra and Mahindra, Tata Power and ICICI Bank shares as caution prevailed over the growing unrest in Iraq choking oil supplies and a weak monsoon stunting economic revival.

The S&P BSE benchmark Sensex slipped another 96.29 points, or 0.38 per cent, to end at 25,105.51 and the NSE 50-share Nifty moved down by 29.25 points, or 0.39 per cent, to finish at 7,511.45, its lowest close since June 5.

IFCI, the government-owned finance company, will reduce its stake in the National Stock Exchange (NSE) and divest its entire stake in the broking and financial product distribution arm, IFCI Financial Services Ltd (IFIN).

Malay Mukherjee, managing director, said: “The board had given a nod for partial divestment of stake in the bourse in April. We are starting the process.”

Equities bounced back and posted modest gains today after overnight fall on the NSE led by select blue-chips ahead of key economic data on a day when top level changes at IT giant Infosys dominated the market.

Firm buying in healthcare, FMCG, auto, financial and technology counters supported the recovery, but selling in index-heavyweights Infosys, which got its first outsider CEO in Vishal Sikka, Bharti Airtel and ICICI Bank capped gains.

Benchmark indices continue to trade in a narrow range with positive bias led by IT shares.

At 10:10 AM, the 30-share Sensex was up 18 points at 25,601 and the 50-share Nifty was up 4 points at 7,660.

On the global front, the euro came under mounting pressure on Wednesday as the European Central Bank's liquidity package encouraged flows out of the zone, while Asian shares consolidated near recent highs following a flat finish on Wall Street.

NEW DELHI: The S&P BSE Sensex rallied over 200 points in trade on Monday to touch its fresh lifetime high of 25604.33, while Nifty also managed to hit its crucial psychological level of 7600 in trade today.

Benchmark indices hit record all-time high led by gains in capital goods, oil & gas, realty and power sectors as foreign institutional investors continued to pump in dollars on hopes of a reformist budget. The indices are likely to move higher in the trade taking cues from supportive Asian markets as well.

After two failed attempts on earlier occasions, the BSE benchmark Sensex on Thursday closed above the 25,000 mark, for the first time ever, on continued optimism about a turnaround in the domestic economy with a stable government at the centre.

The market got a boost from metal and mining stocks, which surged for a third straight session after positive manufacturing data from China earlier this week aided sentiment.

Mumbai: The 30-share bellwether BSE Sensex on Tuesday was trading flat after the Reserve Bank of India (RBI) opted to keep its key lending rate unchanged.

RBI retained the repo rate, at which it lends short-term funds to banks, at 8% but reduced the statutory liquidity ratio (SLR) to 22.5% from 23%, effective the fortnight starting 14 June.

MUMBAI: The Sensex began the week on a promising note, snapping two-day losing streak. It gained over 350 points, led by gains in capital goods, oil & gas and power.

The next trigger for the market will be any positive surprise from the Reserve Bank of India at its policy meet tomorrow, say analysts. However, the central bank is likely to keep interest rates unchanged tomorrow, says ET poll.

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