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Sensex hits 34000 marks, Nifty trades above 10,500

Stock MarketKey benchmark edged higher in early trade as trading resumed after Christmas Weekend. The BSE Sensex jumped 65.07 points at 34,005.37 while NSE Nifty also edged up, rising by 22.1 points at 10,515.1. Heavy weight Shares like TCS, ITC, HDFC, ONGC, RIL and Asian Paints contributed to the upsurge of Sensex.

Shares of Gail India gain on BPCL, IOCL, acquisition buzz, rising 2% to after reports that Indian Oil Corporation and Bharat Petroleum Corp. Ltd are eager to take in gas utility GAIL(India) limited to become completely integrated energy companies.

Shares of Binani Industries rose 5% after reports that India’s top cement majors, including UltraTech and Shree Cement, and the stressed asset inv. fund of Piramal Enterprises & Bain Capital Credit has made aggressive bids for Binani Cement.

Shares of Tata Power Company advanced 0.91% after company’s announcement that its Russian subsidiary company, Far Eastern Natural Resources, has been awarded the for thermal coal mining license in Kamchatka region in Far East Russia.

The rupee was trading little changed versus U.S. dollar today. The domestic currency opened at 64.03 per dollar and was trading at 64.02 apiece, up 0.03% from its Friday’s close of 64.06.
In later morning hours, Sensex and Nifty Slipped into negative territory by trading lower.