Share Market Report
Key indices meandered in dull trade Monday afternoon, as traders avoided taking up huge positions in a week marked by Christmas holiday on Tuesday and derivatives expiry on Thursday.
The BSE Sensex was up 42 points at 15284 and the Nifty up 9 points at 5857. Nifty December futures, which were quoting at a premium of 22-25 points over spot earlier in this series, are now quoting at a premium of less than 10 points. However, Nifty January futures are quoting at a premium of over 50 points to spot, indicating a bullish near term outlook on the market.
Lanco shares were up 6 percent, retaining much of the gains made earlier in the day, on a news report that the company was looking to sell one of its power plants to reduce debt.
Glenmark Pharma shares were up 4 percent at Rs 518, following the company signing a deal with Forest Laboratories to develop inhibitors to treat chronic inflammatory conditions, including pain. The stock hit a 52-week high of Rs 527 earlier in the day.
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