Sensex snaps Four-day drop on value buying

The key benchmark indices Sensex, Nifty settled with small gains on first trading session of the week after seeing volatility in intraday trade. The Sensex rose 36.78 points to end at 32,869.72 on value-buying in IT, teck, metal and healthcare stocks. The Nifty of National Stock Exchange inched up 5.95 points, or 0.06%, to 10,127.75 points

A highly volatile trading was seen all through the session ahead of RBI's monetary policy review and Gujarat elections later this week. The RBI is scheduled to announce the fifth bi-monthly policy of the current fiscal on Dec 6.

After a strong pick up at 32,968.02, the benchmark index Sensex reclaimed the 33,000-level to hit a high of 33,008.62 points, but profit- booking at high levels capped the gains and it finally settled at 32,869.72, up 36.78 points, or 0.11%.

The gauge had tanked 891.50 points in the proceeding four sessions as upbeat Q2 GDP numbers failed to dispel concerns over a widening fiscal deficit.

FIIs invested USD 3 billion in equities in November

Foreign institutional investors (FIIs) invested three billion dollars in Indian equities in November, which marks as the highest since March. The net November Foreign investor’s investment of USD 3.05 billion is the highest since the USD 5.1 billion in March. Their net investment so far this year stands at USD 8.86 billion.  This jump is attributed on the recapitalization of banks coupled with, global risk-on trade.

On 24 October, the govt announced a Rs. 2.11 trillion bank recapitalization plan for state-run lenders weighed down by bad loans, seeking to motivate the flow of credit.

Foreign institutional investment is used commonly in India to refer to outside companies investing in Indian financial markets.

Reliance Power Limited inks accord for USD1 billion power projects in Bangladesh

Reliance Power Limited, the part of the Reliance Anil Dhirubhai Ambani Group, has announced that it has signed an agreement to execute first phase of a USD 1 billion power project, which consists of 750 MW combined cycle gas-based power plant, in Bangladesh.   The company also announced that the project entails an investment outlay of over USD 1 billion, which is also the largest foreign direct investment in Bangladesh. 

On Friday, shares of Reliance Power Ltd closed at Rs 37.45, down Rs 0.55, or 1.45% on the NSE. The scrip opened at Rs 38.80 and touched a high of Rs 38.80 and a low 37.30. The stock attracted a traded volume of 29,78,171 shares on National Stock Exchange.

Reliance Power Limited is India's leading private sector power generation and coal resources Company. The company has the biggest portfolio of power projects in the private sector, based on coal, gas, hydro & renewable energy, with an operating capacity of 5,945 megawatts.