Pharma, FMCG pull up sensex
Mumbai: Moving away from the downtrend witnesses in the past several weeks, the stock market registered continued gains on Monday, as the "old economy’ stocks in the pharma and FMCG sectors showed increased buying.

The Sensex touched a high of 4,220.36 points after moving in a range in the last hour of trading, and settled at 4,189.85, registering a gain of 105.14 points over its Friday close. This is the third successive session in which the Sensex has ended the day with a gain. Despite this, advances at 842 outnumbered declines of 492 with a wide margin. On the NSE, the S&P CNX Nifty closed at 1311.05 gaining 35.7 points or 2.8 per cent over previous close.

Institutional investors were said to be aggressive buyers in these two sectors. Some recovery was also observed in the New Economy shares later in the day.

FMCG and pharmaceutical stocks were in the limelight following the predictions of a normal monsoon. Nestle, Bata India, Britannia Industries, Hindustan Lever, Colgate, Cadbury, ICI and Philips India were some of the major FMCG stocks to record appreciable gains.

Among the pharma stocks, while Novartis (Rs 726.30) remained frozen at the 12 per cent upper limit of the circuit breaker, counters like Glaxo, Ranbaxy Laboratories and Dr Reddy's Laboratories were firm on fresh buying interest.
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NSE trading terminal opened at MgSE
Mangalore: There was good news for the brokers at the Mangalore Stock Exchange with the inauguration of an NSE trading terminal at the exchange. The MgSE members can now directly access the Inter-connected Stock Exchange (ISE) and the National Stock Exchange (NSE).

MgSE thus becomes the first regional stock exchange in the country to be connected to the NSE. MgSE was also one of the earlier exchanges to take the lead in promoting the ISE as a common trading grid for members of the regional stock exchanges. ISE launched its NSE segment on May 3.

Trading on the ISE and NSE segments will now be available to members through iAccess, the multi-exchange trading and settlement product designed by ISE and ISS.

The ISE hopes that around 500 members from various participating regional stock exchanges and an equal number of dealers located in more than 70 cities would be able to trade on the ISE, the NSE and other stock exchanges using iAccess.
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