Market Update:Nifty nears 11,250; HDFC Life down 5%; Jet Airways jumps

HDFC Life down 5% - HDFC Life Insurance Company Ltd on Monday said that its promoter Standard Life will sell 70 million shares or 3.4 per cent stake through an offer for sale (OFS) on March 12 and 13.

The sale offer has a green-shoe option of 29.5 million shares, it also said in a regulatory filing. The share sale base price has been fisex at Rs 357.5 per share, it added.

Market Opens: Indian indices continued its upward momentum on the second day on Tuesday with Nifty opened above 11,200 level. The Sensex is up 291.67 points at 37345.77, while Nifty is up 80.50 points at 11248.50. About 759 shares have advanced, 129 shares declined, and 24 shares are unchanged.

RIL, Tata Motors, IOC, Bajaj Finserv, HDFC, Dabur, Ashok Leyland, Union Bank, IOB, Coal India, HDFC Bank, Gail, Grasim Industries are among major gainers on the indices, while losers are Bharti Airtel, Bharti Infratel and HDFC Standard Life. All the sectoral indices are trading higher led by energy, infra and metal.

Rupee Opens: The Indian rupee opened higher by 13 paise at 69.75 per dollar on Tuesday versus Monday's close 69.88.

Jet Airways jumps - Etihad Airways PJSC, which owns a 24% stake in Jet Airways (India) Ltd, has set several conditions before its next round of proposed investment in the cash-strapped airline. The infusion of fresh funds, will, however, be subject to approval from the Etihad board of directors.

Crude Update: Oil prices rose on Tuesday, lifted by healthy demand and output cuts led by producer group OPEC.

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