Monday, November 29, 1999

BSE Sensex to tread water; DLF, Sterlite watched

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MUMBAI (Reuters) The BSE Sensex could pause on Thursday after climbing more than 5 percent over six straight sessions, with mixed Asian markets providing little clear direction.Top-listed real estate firm DLF will be in focus after the Economic Times reported Malaysian sovereign fund Khazanah was close to buying a controlling stake in luxury hotel chain Aman Resorts from the Indian company for up to $350 million.Metals stocks such as Sterlite Industries will be watched after London copper futures dropped 1.6 percent.The MSCI's measure of Asian markets other than Japan were up 0.1 percent by 0258 GMT, while Japan's Nikkei was trading 0.4 percent lower.The Nifty India stock futures in Singapore were up 0.15 percent.On Wednesday, the 30-share BSE index rose 0.3 percent to 17,462.87, its highest close since April 30. The benchmark's six-day rise was the longest run since September 2009.STOCKS TO WATCH* State Bank of India, after the country's largest lender said it plans to start wealth management services in the current financial year.* Reliance Capital, part of billionaire Anil Ambani's conglomerate, after it agreed to buy 18 percent in Bloomberg UTV, a business news channel.* Indraprastha Gas Ltd, after it said it would raise retail prices of compressed natural gas by 5.6 rupees per kg from Thursday due to an increase in natural gas prices.* Binani Cement Ltd after it said it would spend up to 1.31 billion rupees to buy back 14.5 million shares at 90 rupees each.(Reporting by Ami Shah & Aniruddha Basu; Editing by RanjitGangadharan)(For more business news on Reuters India click
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