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and whoever wants to be first must be slave of all. For even the Son of Man did not come to be served, but to serve, and to give his life as a ransom for many.”

3 Mar 2016


9.17 am: Sensex was trading 200.56 points up at 24,443.54. Nifty was up 49.20 points up at 7,418.
9.15 am: The BSE Sensex and NSE Nifty opened in green on Thursday on the back of firm global cues. The 30-share index opened 143.69 points up at 24,386.67, while the 50-share index opened 60.70 points up at 7,429.55.

8.41 am: Domestic equity indices may open on a positive note on Thursday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.
At 8.27 am (IST), SGX Nifty was trading 48.50 points, or 0.65 per cent, up at 7,409.50.
Asian shares were bound for a third straight session of gains on Thursday as upbeat data on US jobs and a rally in a range of commodities whetted risk appetites globally.
US markets inched higher to close on a positive note, on the back of encouraging ADP employment data, and uptick in oil prices. Also, commentary from the Beige book released by Fed indicated that economic activity expanded across most districts since the previous Beige Book. All these positives indicate that US economy is regaining momentum and as a result US markets closed in green. Energy and bank stocks had led Wall Street higher on Wednesday, giving the Dow a gain of 0.2 per cent. The S&P 500 added 0.41 per cent and the Nasdaq 0.29 per cent.

Majority of the European market indices ended in green. Financial and Resource stocks were amongst the best performers on Wednesday. Stocks pared some of its early gains in response to mixed regional data. While Eurozone producer prices fell at slowest pace in 5 months in Jan, matching estimates, British construction activity unexpectedly hit 10-month low in Feb, defying economists' expectations of modest improvement. FTSE was down 0.1 per cent.

Back home, market sentiment remained bullish on Wednesday as buying paced up after the government stuck to its fiscal deficit target, which raised hopes of a rate cut by the Reserve Bank any time this month. The 30-share Sensex closed higher by 463.63 points, or 1.95 per cent, at 24,242.98.
The 50-share NSE Nifty, after reclaiming the crucial 7,300-mark, settled at 7,368.85, up 146.55 points, or 2.03 per cent on Wednesday.
Shares of Bharat Forge and HDFC will remain in focus on Thursday. Life Insurance Corporation (LIC) has hiked its stake in components maker Bharat Forge by 2.02 per cent, by buying 47.12 lakh shares in the open market.
Leading mortgage lender HDFC Ltd on Wednesday said it will raise Rs 2,000 crore via non-convertible debentures (NCDs) to fund business needs.

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