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Pintu

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Nifty closes below 4400 on profit booking- Market News-Stocks-Markets-The Economic Times

Nifty closes below 4400 on profit booking
22 Jul 2009, 1720 hrs IST, ET Bureau



MUMBAI: Indian stock markets ended lower for the second consecutive session on Wednesday, as traders booked profits after the recent rally. Capital goods, IT and auto space were down while realty stocks closed a little higher.

Indices opened on a positive note and gained momentum led by realty, metals and banks. But the upmove couldn’t last long as traders pressed sales. Negative opening of European markets also added pressure.

However, experts are still bullish on the market and expect more upside in coming days. “We are seeing fresh buying as well as short covering which is pushing the indices. Nifty has formed a bullish head-and-shoulder pattern on weekly charts. Investors should remain long. Nifty has resistance at 4500-4700 but once this barrier is broken then it is headed for 5500 and new highs are possible in next 2 years. On the downside, trend will turn negative below 4250-4300,” said a senior market analyst.

Bombay Stock Exchange’s Sensex ended at 14,843.12, down 219.37 points or 1.46 per cent. The broader index hit a high of 15369.42 and low of 14786.58.

National Stock Exchange’s Nifty closed at 4398.90, down 70.2 points or 1.57 per cent. The index touched an intra-day low of 4380.45 and high of 4557.95.

The BSE Midcap Index was down 0.97 per cent and BSE Smallcap Index inched 0.35 per cent lower.

Amongst the sectoral indices, BSE Capital Goods Index declined 1.87 per cent, BSE IT Index was down 1.6 per cent and BSE Auto Index fell 1.61 per cent.

Sensex losers comprised HCL Technologies (-5.82%), HDFC (-4.88%), Cipla (-3.91%), ABB (-3.86%) and Hindalco Industries (-3.39%)

Gainers were ONGC (4.54%), GAIL (1.03%), Sterlite Industries (0.92%), DLF (0.65%), and NTPC (0.35%).

Market breadth on BSE was negative with 1374 declines against 1231 advances on BSE.

European markets ended their seven-day winning streak led by losses in mining and banking stocks. The US markets are also likely to open in the red indicate stock futures. At 5pm, Dow Jones stock futures was down 0.48 per cent, S&P 500 stock futures declined 0.48 per cent and Nasdaq 100 futures slipped 0.13 per cent.

Results:

Wipro’s net profit rose to Rs 1015.50 crore in the April-June quarter of 2009 as against Rs 1010 crore in the March quarter. Consolidated net sales stood at Rs 6289.10 crore for the quarter ended June 30, 2009 compared with Rs 6482.10 crore the quarter ended March 31, 2009. The company’s revenue increased by 5% year-on-year to Rs. 6,274 crore while net profit grew by 12% year-on-year to Rs Rs. 1,016 crore. On a standalone basis, Wipro reported a net profit of Rs 1197.90 crore for the June quarter as against Rs 842.10 crore in the earlier quarter. The scrip closed 1.65 per cent lower on the NSE.
 

Pintu

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Sensex falls 219pts to close below 15K - India Business - Business - NEWS - The Times of India

Sensex falls 219pts to close below 15K
PTI 22 July 2009, 04:43pm IST

MUMBAI: The BSE Sensex on Wednesday fell 219 points and ended below 15,000 due to weak European cues amid encouraging first-quarter corporate earnings.

Wiping out initial sharp gains of nearly 307 points, the Bombay Stock Exchange 30-share barometer turned negative and settled the day at 14,843.12, netting a loss of 219.37 points or 1.46 per cent from previous close.

Good first-quarter results by India's electric equipment maker BHEL and the third-largest software exporter Wipro did not impact the market.

IT major Wipro reported 11.86 per cent increase in consolidated net profit at Rs 1,015.50 crore for the first quarter ended June 30, 2009.

European markets and US index futures were trading in the red in the afternoon, adversely affecting market sentiment.

Investors preferred to book profits at higher levels as the market surged sharply over the last five days.

The Sensex rose from the intra-day low of 13,219.99 on July 13 to 15,191 on July 20, registering a rise of about 2,000 points or 15 per cent in five days after over 100 companies reported significant growth in Q1 net profits.

Foreign institutional investors too were net sellers to the tune of Rs 250.86 crore in equity on the BSE and NSE on July 21, according to provisional data.
 

Pintu

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http://www.ptinews.com/news/188042_Sensex-falls-for-second-day-on-profit-selling

Sensex falls further for second day on profit selling


STAFF WRITER 17:27 HRS IST

Mumbai, July 22 (PTI) Capital goods, auto and power stocks were instrumental in bringing down the Bombay Stock Exchange Sensex for the second session and the barometer dipped below 15,000 after a good start amid a weak opening at European bourses and concerns over an unfriendly monsoon.

The Sensex, which had lost 128.52 in the previous day's trading, fell further by 219.37 points at 14,843.12 with financial stocks led by ICICI Bank losing 1.44 per cent, paring a 21 per cent advance since last week after the government revealed plans for more reforms in the banking sector.

The key index had touched the day's high of 15,369.42 and a low of 14,786.58 points.

Similarly, the 50-share National Stock Exchange index Nifty lost 70.20 points at 4,398.90. It oscillated between 4,557.95 and 4,380.45.

The 30-share BSE index had increased more than 9.
 

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Sensex sheds 220 pts on profit taking

SIFY
Sensex sheds 220 pts on profit taking

2009-07-22 16:58:02

The market extended losses to a second straight session as participants resorted to profit taking after recent strong gains. However, unlike in the previous session when it spent not more than a few minutes in the positive territory, the market's spell in the positive zone lasted nearly three hours today as stocks cutting across sectors found some strong support in morning trade.

Besides profit taking, the weak trend on the European bourses and lower US index futures also contributed to the sell-off in afternoon trades. There were a few good report cards from India Inc and there were reports of a few big order wins as well but investors were keen on taking home some profits today.

The Sensex, which was up by over 300 points at 15,369.42 around mid morning, eventually ended the day with a big loss of 219.37 points or 1.46% at 14,843.12. The barometer touched a low of 14,786.58 in late afternoon trade. The broader 50-stock Nifty index of the National Stock Exchange closed at 4398.90, netting a loss of 70.20 points or 1.57% for the day. The Nifty hit a high of 4557.95 and a low of 4380.45 today.

Capital goods, auto, power and information technology stocks bore the brunt of pressure today. Metal, pharma and bank stocks too declined sharply but managed to find modest support at lower levels. Oil, FMCG and telecom stocks drifted lower while select realty and PSU stocks closed with notable gains.

After trading firm for a couple of hours, midcap and smallcap stocks encountered resistance but they still managed to outperform the broad market till an hour to close.

Housing finance major HDFC turned weak ahead of announcement of quarterly results and despite the company reporting a decent surge in earnings, the stock ended the session with a sharp 4.4% loss. HDFC posted a net profit of Rs 5649.20 million for the quarter ended June 30, 2009 as compared to Rs 4681.10 million for the quarter ended June 30, 2008.

Hindalco, Reliance Infrastructure, Grasim Industries and Tata Steel lost 3.25% - 3.5%. Jaiprakash Associates closed with a loss of 2.95%. BHEL ended 2.85% down despite fairly strong quarterly numbers. Tata Consultancy Services ended lower by 2.4%. Reliance Communications and ACC lost over 2%.

Index heavyweight Reliance Industries ended nearly 2% down. Maruti Suzuki, Bharti Airtel, Hero Honda, Larsen & Toubro, Wipro, ICICI Bank, Mahindra & Mahindra, Infosys Technologies and HDFC Bank also closed with sharp losses.

HCL Technologies (down 5.8%) was the biggest loser in the Nifty index. Cipla, ABB, Cairn India, SAIL, Axis Bank, Tata Communications, BPCL and Nalco lost 2% - 4%. Idea Cellular, Reliance Power, Unitech and Power Grid Corporation also declined sharply.

ONGC closed with a handsome gain of 4.6%. GAIL India ended more than a per cent up. Sterlite Industries, DLF and NTPC finished with modest gains.

The market breadth which was pretty strong this morning, turned weak in afternoon trade and was marginally negative at close. Out of 2704 stocks traded on BSE, 1231 stocks closed with gains. 1374 stocks declined and 99 stocks ended flat.

The sell-off happened on higher volumes today. The National Stock Exchange clocked a turnover of Rs 21,378.53 crore, up nearly Rs 2,100 crore over the turnover recorded in the previous session.
 

Pintu

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Sensex ends 400 points up on earnings, economic data- Market News-Stocks-Markets-The Economic Times

Sensex ends 400 points up on earnings, economic data
23 Jul 2009, 1537 hrs IST, ET Bureau

MUMBAI: Indian markets ended sharply higher as sentiments turned bullish with better than expected earnings from India Inc and release of core sectors data indicating economic recovery. All the sectoral indices ended in the positive terrain.



Showing distinct signs of economic recovery, the six core industrial sectors led by coal and cement recorded a growth rate of 6.5 per cent in June compared to 2.8 per cent in the previous month.

Bombay Stock Exchange’s Sensex closed at 15237.94, up 394.82 points or 2.66 per cent. The index touched an intra-day high of 15264.84 and low of 14997.75.

National Stock Exchange’s Nifty ended at 4521.55, up 122.65 points or 2.79 per cent. The broader index touched a high of 4532.40 and low of 4405.95.

BSE Midcap Index gained 2.38 per cent and BSE Smallcap Index moved 2.95 per cent higher.

Amongst the sectoral indices, BSE Realty Index jumped 5.61 per cent higher, BSE Metal Index gained 4.34 per cent and BSE FMCG Index moved up 4.09 per cent.

Biggest gainers that propelled the 30-share Sensex were DLF (7.76%), Reliance Infrastructure (6.76%), Maruti Suzuki (6.63%), Hindalco Industries (6.2%) and ACC (5.96%).

Bharti Airtel (-1.01%) and ONGC (-0.44%) were the only laggards in the rally.

Market breadth on BSE was extremely positive with 1789 advances outnumbering 846 declines.

Maruti Suzuki India Ltd has standalone net profit of Rs. 583.54 crore for the quarter ended June 30, 2009, up from Rs. 465.85 crore for the corresponding quarter of 2008. Net sales was Rs. 6340.26 crore for quarter compared with Rs. 4753.58 crore in the year ago quarter.

ACC posted a net profit of Rs 4856.193 million for the quarter ended June 30, 2009 whereas the same was at Rs 2714.242 million for the quarter ended June 30, 2008. Total Income is Rs 21382.483 million for the quarter ended June 30, 2009 against Rs 18541.087 million year ago.

ITC Ltd. has reported standalone net profit of Rs. 878.70 crore for the quarter ended June 30, 2009, up from Rs. 748.67 crore for the same quarter of 2008. Net sales stood at Rs. 4082.68 crore against Rs. 3899.70 crore year ago. Shares of the company were higher by 3.14% at Rs 224.85 on NSE, following the results.


(All the figures are provisional)
 

advaita

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Why do people make such silly predictions?. It will be more meaningful for these guys to predict when will the countries come out of recession.

To reach 100,000 points on sensex by 2025, we should be able create that much more wealth proportionately. Going by current sensex figures, we need to grow at least 10 folds from the present economy scale, which means our economy size should be around $10 trillions by 2025 compared to present $1 trillion. I think this is not possible in any sense with the pace our economy is moving.
Dear Daredevil,
You are both practically as well as theoretically... wrong.
BSE on 02.07.1993 was at 2,243.81
BSE at its peak last year was 21000 plus
Go figure it out for yourself (and there are more then one reasons for me to put in my comment)

Dear Yusuf,
It is not such a big deal. Also I agree with Elliot Wave but it has some significant problems in its predictive value (China historically, World wars, Russia historically, even India historically). China in my view is not going to be a technical bear market for a pretty long time to come. Historically whichever country came up economically did not fitter it away easily and did good for itself for hundreds of years. In the super cycle even the US is a strong bull market even today. However you would be happy to note that even India is a long term bull market now.

Dear All,
There thread has very little to do with incremental growth of India in which i am sure we people are interested. Such informations are good only for traders and there discipline is so speciallised that it cannot be done justice in this manner. Why not close it. Just my suggestion.
 

Antimony

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There thread has very little to do with incremental growth of India in which i am sure we people are interested. Such informations are good only for traders and there discipline is so speciallised that it cannot be done justice in this manner. Why not close it. Just my suggestion.
I agree with the lack of value part.

But closing the thread would give us one less chance to argue with one another and that is never good:wink:
 

Pintu

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Sensex ends flat ahead of F&O expiry; Results, policy drive market- Market News-Stocks-Markets-The Economic Times

Sensex ends flat ahead of F&O expiry; Results, policy drive market
28 Jul 2009, 1742 hrs IST, Mohammed Sabir, ET Bureau

MUMBAI: Equity benchmarks ended a choppy session flat on Tuesday, ahead of July F&O series expiry. Realty and auto did well as the Reserve Bank of India kept policy rates unchanged and said there is space for lowering interest rates. But this saw bank stocks suffer. Action was also seen in stocks that announced quarterly results.

“The rate decision and policy statement signals a move away from a sole focus on boosting demand to giving more weight to inflation. The policy confirms that there will be no more rate cuts and therefore takes away a small overhang on the rupee. The Goldman Sachs WPI inflation forecast, at 6.5% for end-March 2010 remains higher than the RBI’s revised target of 5%, while Goldman Sachs projection for GDP growth at 5.8% is in line with the RBI’s target of 6%,” said Tushar Poddar, vice president & chief economist, Goldman Sachs India.

Market opened higher and turned rangebound as traders squared off positions, and due to lack of buying at higher levels.

“Rollovers are better compared to last month. Long build up was seen in power sector on good volumes. Infrastructure and auto space also saw long build up while banks continued to face pressure,” said a derivative analyst from a local brokerage.

Bombay Stock Exchange’s Sensex settled at 15,331.94, down 43.1 points or 0.28 per cent from its previous close. The index swayed from a low of 15,240.53 to a high of 15,463.46.

National Stock Exchange’s Nifty closed at 4564.10, lower by 8.2 points or 0.18 per cent. The 50-share index traded in a range of 4599.90 and 4529.15 during the day.

“Market has been trading in narrow range between 4400-4600 for the last few days. Nifty is likely to correct as selling pressure may emerge at 4600. If Nifty slips below 4480-4450 then it may correct to 4300. If Nifty moves above 4620 then 4700-4750 looks possible,” the analyst added.

There was good amount of buying in the broader market which spurred the sectoral indices higher. The BSE Midcap Index ended 1.13 per cent and BSE Smallcap Index 1.68 per cent higher.

Sectorwise, BSE Realty Index surged 4.64 per cent after the government lowered interest rates on loans for affordable housing. Among a slew of concessions, including 1 per cent interest subsidy for lower and middle income housing loans, it also extended a tax holiday to industrial parks and lifted the tax burden off road repair costs.

The BSE Auto Index, up 1.92 per cent, was the second in lead boosted by significant gains in Tata Motors after the auto major delivered better-than-expected earnings in the April-June quarter.

Index losers comprised Hindustan Unilever (-7.28%), ICICI Bank (-2.37%), Grasim Industries (-1.77%), State Bank of India (-1.7%) and Infosys Technologies (-1.51%).

Gains in Tata Motors (10.47%), Reliance Infrastructure (3.91%), DLF (3.4%), Reliance Communications (2.98%) and Maruti Suzuki (2.84%) cushioned the slide.

Market breadth on BSE showed 1,709 advances outnumbering 645 declines.

Results Impact:

Tata Motors, whose portfolio stretches from the marquee Jaguar to the world’s cheapest car Nano, defied market forecasts to clock a 58% rise in net profit for the June quarter, on the back of share sales in a sister concern and new accounting norms that offset forex losses. The flagship firm of the steel-to-software Tata Group said its standalone profit for its first quarter of the year rose to Rs 514 crore, from Rs 326 crore a year ago, even as revenues dipped 8% to Rs 6.404 crore because of weaker sales of its mainstay heavy trucks.

Hindustan Unilever Ltd posted a standalone net profit of Rs. 543.19 crore for the quarter ended June 30, 2009, down from Rs. 558.18 crore for the same quarter of 2008. Net sales for the April-June period of 2009 was Rs. 4475.68 crore against Rs. 4215.67 crore for the quarter ended June 2008.
 

ajay_ijn

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Why do people make such silly predictions?. It will be more meaningful for these guys to predict when will the countries come out of recession.

To reach 100,000 points on sensex by 2025, we should be able create that much more wealth proportionately. Going by current sensex figures, we need to grow at least 10 folds from the present economy scale, which means our economy size should be around $10 trillions by 2025 compared to present $1 trillion. I think this is not possible in any sense with the pace our economy is moving.
dunno abt stock market and GDP can be even more than 10 trillon by 2025.
http://en.wikipedia.org/wiki/List_of_countries_by_past_GDP_(nominal)
Indian economy doubled from 500 billion USD to 1 trillion USD from 2002 to 2007. with similar growth rates we may reach 2 trillion by 2012, 4 trillion 2017 and 8 trillion 2022 and 16 trillion 2027. It mostly depends on exchange rate.
 

Pintu

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Sensex jumps to 13-month high of 15,670 - India Business - Business - NEWS - The Times of India

Sensex jumps to 13-month high of 15,670
PTI 31 July 2009, 05:23pm IST

MUMBAI: The Bombay Stock Exchange 30-share index surged by 282.35 points to more than a 13-month high of 15,670.31, boosted by India Inc's
excellent first-quarter performance.

The Sensex gained 1.83% to hit a level not seen since June 17, 2008, when it had closed at 15,696.90.

Excellent Q1 earnings by most corporates raised market expectations about an encouraging outlook for Indian companies in the current financial year.

The mood turned upbeat after India's largest public sector bank SBI and the biggest tractor maker Mahindra & Mahindra yesterday came out with strong Q1 results, beating analysts' estimates.

Initially, firm Asian markets aided investor sentiment. Asian indices ended up about 1.0 to 3.0%.

The broader 50-share Nifty of the National Stock Exchange also soared by 65 points or 1.42% to 4,636.45 from its last close.

Bonanza Portfolio Assistant Vice-President Avinash Gupta said, "The market opened strong but was dragged down by profit booking. A sharp recovery in the last half an hour of trading
helped the Nifty to close with a gain of 65 points. The advance-decline ratio was almost 1:1. The market is expected to consolidate around the current levels."
 

Pintu

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Sensex at 2009 high, rallies 282pts

Sensex at 2009 high, rallies 282pts
BS Reporter / Mumbai July 31, 2009, 16:15 IST

The Sensex today recorded a fresh 2009 high on the back of strong earnings, positive global cues and renewed buying interest at the start of the August derivatives series.

The BSE index today opened with a positive gap of 61 points at 15,449. The index surged thereafter to the calendar year's high of 15,733 - up 345 points. Towards the end of the day, the index slipped for a brief while but managed to recover sharply.

The Sensex finally ended the day with a gain of 282 points (2%) at 15,670.

The BSE Oil & Gas and FMCG indices gained 3% each to 2,738 and 9,480, respectively.

The NSE Nifty, meanwhile, ended at 4,636, up 65 points. Ealier in the day the index touched a high of 4,670 - up 99 points.

US markets had closed with big gains yesterday. Asian markets today had closed at their 11-month high.

This has taken the Sensex up 291 points (2%) this week. The Nifty has added 68 points (1.5%) at the same time.

The market breadth today was positive. Out of 2,801 stocks traded, 1,401 advanced while 1,299 declined.

INDEX MOVERS...

Hindalco and Tata Motors have surged 6.5% each to Rs 100 and Rs 422, respectively. ONGC has rallied 6% to Rs 1,165.

SBI has gained 5% at Rs 1,814. Hindustan Unilever added 3% to Rs 291.

Reliance, ITC, Sterlite moved up 3% each. HDFC Bank, HDFC, Infosys, Sun Pharma, Tata Steel, Reliance Infrastructure and BHEL also moved up 1-3% each.

Among the Nifty stocks, Nalco surged 5% to Rs 306. Ambuja Cements and Idea Cellular added 4% each to Rs 109 and Rs 79, respectively.

ABB, Cairn India and Siemens also moved up.

...AND THE SHAKERS

Bharti Airtel traded in red through teh day and finally ended at Rs 411, down 3%. Reliance Communications and Hero Honda dropped 2% each to Rs 276 and Rs 1,606, respectively.

DLF also slipped 1% to Rs 396.

In Nifty, Jindal Steel, BPCL, HCL Technologies, Cipla and PowerGrid Corporation dropped 1-3% each.

VALUE & VOLUME TOPPERS...


Reliance topped the combined value chart with a turnover of Rs 875.43 crore, followed SBI (Rs 864.31 crore), DLF (Rs 776.88 crore), Tata Steel (Rs 752.48 crore) and Suzlon (Rs 660.45 crore).

The combined volume chart was led by Unitech with trades of 81.45 million shares, followed by Suzlon (65.09 million), Mahindra Satyam (52.11 million), Ispat Industries (50.2 million) and IFCI (42.47 million).
 

ajay_ijn

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i read that the total market capitilization of BSE is at 51 lakh crore. thats almost size of Indian GDP.
 

Pintu

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http://www.defenceforum.in/forum/newreply.php?do=postreply&t=1596

IANS​
Corporate India, global cues push Sensex to 13-month high

2009-08-01 13:30:00

Corporate India provided a much needed boost to investors this week and buying interest at Indian equities markets resurfaced in the wake of a good set of earnings reports, pushing a key index to a 13-month high.

Other Asian markets also provided a prop to their Indian peers, with some key indices touching new highs.

The 30-share sensitive index ( Sensex) of the Bombay Stock Exchange (BSE) rose 291.35 points or 1.89 percent over previous Friday's close and ended trade at 15,670.31 points. This was its highest closing figure since June 17, 2008.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) followed the Sensex, moving up 1.5 percent from its last weekly close to end at 4,636.45 points.

Lesser market capitalised scrips did better with the BSE's midcap index closing 3.52 percent higher than its previous weekly close, while the BSE smallcap index was up 2.57 percent.

Data with markets watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds were net buyers during the week, having bought scrips worth $735.7 million. In July, foreign investors bought a total of $2.28 billion.

'Positive results by corporates is proof that the economy is on the verge of a turnaround. This will continue to help the markets gain momentum,' said Jagannadham Thunuguntla, equity head at SMC Capitals.

Indian equities started the week on a volatile note with the benchmark indices trading in a see-saw like pattern till about Wednesday.

Late buying of heavyweight stocks helped the Sensex recoup most of its losses Monday, though it still ended trade 3.92 points lower after having slipped deep into the red. It ended trade 3.92 points or 0.03 percent lower at 15,375.04 points.

The Nifty, however, closed 0.08 percent higher at 4,572.3 points.

The Reserve Bank of India (RBI) announced the first quarterly monetary policy review Tuesday, but it turned out be a non-event for the markets with the central bank maintaining a status quo on key policy rates.

The Sensex shut shop 43.1 points or 0.28 percent to close at 15,331.94 points. It had managed to crawl into the positive terrain about an hour before closing bell after languishing in the red for most of the day.

The Nifty too ended in the red, closing 0.18 percent lower at 4,564.1 points.

Profit booking and a crash at the Chinese bourses pulled down the Sensex 158 points into the red Wednesday, even though it managed to salvage some of the losses. It had slipped more than 443 points around noon after Chinese bourses tanked.

The Sensex closed at 15,173.46 points -- 158.48 points or 1.03 percent lower than Tuesday's closing figure. Similarly, the Nifty closed in negative terrain, 1.11 percent down at 4,513.5 points.

Thursday saw the markets welcome a good set of corporate earnings and pushed the Sensex 214.5 points or 1.41 percent higher at 15,387.96 points. A bit of short covering before expiry of the futures and options contract for July also helped the rise.

The Nifty too closed in the positive terrain, 1.28 percent up at 4,571.45 points.

Indian equities were again up Friday, with investors taking cues from a sustained Asian rally and corporates continuing to provide positive earnings results.

The Sensex which opened lower at 15,449.47 points, shut shop at 15,670.31 points -- 282.35 points or 1.83 percent higher than Thursday's closing figure. It was the highest closing since June 17, 2008.

The Nifty moved up as well rising 1.42 percent to 4,636.45 points.

The week's top gainers on the Sensex were Ambuja Cements (up 14.1 percent), Tata Motors (up 13.1 percent), Tata Power (up 11 percent), TCS (up 9.1 percent) and ITC (up 7.3 percent).

Among losers were Hero Honda (down 7.5 percent), Grasim (down 3.4 percent), Cipla (down 3.1 percent), Reliance Industries (down 3 percent), and Reliance Power (down 2.6 percent).
 

Pintu

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Auto, metals, realty team up to take Sensex near 16k- Market News-Stocks-Markets-The Economic Times

Auto, metals, realty team up to take Sensex near 16k
4 Aug 2009, 0041 hrs IST, AGENCIES

MUMBAI: The Bombay Stock Exchange benchmark Sensex rose to touch its highest level in more than a year on Monday. The 30-share index gained 253.92 points, or 1.6%, to end the day at 15924.23.

The rally got support from investors' taking long positions across the board, following the positive opening of the European markets and gains in auto, realty and metals spaces.

Maruti Suzuki and Mahindra & Mahindra paced gains after saying they sold more vehicles last month. Maruti Suzuki climbed 3.98% to 1469.55 while Mahindra & Mahindra gained 6.88% to close at 915.75.

Among the metal stocks, Sterlite Industries gained to a seven-week high after a measure of six metals traded in London jumped 1.7% on July 31. Tata Steel advanced 4.9% to 485.2 while Hindalco, the biggest aluminum producer in the country, jumped 8% to 108.3.

The Sensex climbed 8.1% last month as the first quarter results of 23 of the 30 companies on the index beat analysts' estimates.

"The good earnings by Sensex companies have added to the confidence of investors," said Deven Choksey, CEO of KR Choksey Shares & Securities. "The markets will see an upside going forward."

The Nifty added 1.6% to 4711.4, crossing the 4700 level for the first time since June 3, 2008. The BSE 200 Index increased 1.7% to 1941.93.

An "increase in rural demand" as a result of "government spending" is helping drive demand in some sectors such as auto manufacturing, said Navneet Munot, chief investment officer at SBI Funds Management, who oversees the equivalent of $7.3 billion in assets.

Among the other gainers, Hindustan Zinc, India’s largest producer of the metal, rose 6.8% to 738.4. The company raised prices of zinc and lead after the metals jumped on the London Metal Exchange.

Stocks of Reliance Communications surged 5.2% to 290 after it reported an unexpected increase in first-quarter profit.

Suzlon Energy, however, sank 4.2% to 95.65. The nation’s biggest maker of wind turbines reported a loss in the first quarter after winning fewer orders.

The Reuters/Jefferies CRB Index of 19 raw materials has gained 12 percent this year, led by a 90 percent rally in copper, on speculation the economic slump is bottoming and the dollar will weaken as the Federal Reserve maintains interest rates near zero.
India's manufacturing output rose for a fourth month in July as higher government spending and lower interest rates boosted domestic demand, a key gauge showed.

Markit Economics' Purchasing Managers' index stood at 55.3 in July, unchanged from June, according to a report released today. It was the fourth monthly reading above 50, which indicates factory production increased.

Central Bank Governor Duvvuri Subbarao, who has cut interest rates six times since October, left borrowing costs unchanged near record lows on July 28 to spur an economy growing at the slowest pace since 2003. The government has lowered the tax burden on individual incomes and reduced taxes for companies hit by shrinking profits due to a slump in exports.

"Business conditions in India continued to strengthen in July," Gemma Wallace, an economist with Markit Economics, said in the report. "The domestic market remained the primary impetus to growth, although the export market also played a part as its recovery gained pace."
 

Pintu

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Sensex closes in red; Power, realty disappoint- Market News-Stocks-Markets-The Economic Times

Sensex closes in red; Power, realty disappoint

4 Aug 2009, 1553 hrs IST, ET Bureau

MUMBAI: Indian equities ended lower as traders booked profits after a sharp rise in the previous session. Power, realty and pharmaceutical stocks slipped while auto and FMCG stocks ended higher.

Bombay Stock Exchange’s Sensex ended at 15814.79, down 109.44 points or 0.69 per cent. The index touched an intra-day low of 15699.13 and high of 16002.46.

National Stock Exchange’s Nifty closed at 4676.40, down 35 points or 0.74 per cent. The broader index hit a low of 4642.60 and high of 4731.45.

BSE Midcap Index was down 0.33 per cent and BSE Smallcap Index was up 0.31 per cent.

Amongst the sectoral indices, BSE Power Index was down 1.48 per cent, BSE Realty Index slipped 1.39 per cent and BSE Healthcare Index declined 1.39 per cent. BSE Auto Index was up 0.54 per cent and BSE FMCG Index gained 0.26 per cent.

Hindustan Unilever (3.62%), Hindalco Industries (3.23%), Tata Motors (2.26%), ACC (1.46%) and Mahindra & Mahindra (1.34%) were amongst the Sensex gainers.

Tata Power (-4.80%), Reliance Infrastructure (-3.25%), ONGC (-2.98%), Reliance Communications (-2.86%) and Jai Prakash Associates (-2.63%) were amongst the losers.

Market breadth was positive on the BSE with 1476 advances and 1246 declines.

(All figures are provisional)
 

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http://www.ptinews.com/news/211853_Monsoon-concerns-return-to-haunt-Sensex

Monsoon concerns return to haunt Sensex

STAFF WRITER 17:38 HRS IST

Mumbai, Aug 4 (PTI) The BSE Sensex showed a fall of 93.25 points in uneven trade today, clouded by concerns over the weak monsoon reducing demand in rural areas.

Asian indices ended low while European markets were trading in the red in late morning trade, snapping three sessions of a strong rally.

The Bombay Stock Exchange 30-share barometer touched the intra-day high of 16,002.46 for the first time since June 2, 2008, but went down to 15,699.13 before settling the day at 15,830.98, a fall of 0.59 per cent over its previous close.

Similarly, the broad-based 50-share Nifty of the National Stock Exchange also dropped 30.90 points or 0.66 per cent to 4,680.50 from its last close.

According to operators, investors booked profits at higher levels after the Sensex touched 16,000.

Bonanza Portfolio Assistant Vice-President Avinash Gupta said, "The market is expected to be range-bound with an upward bias.
 

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Sensex sheds 390 points on weak monsoon - India Business - Business - NEWS - The Times of India

Sensex sheds 390 points on weak monsoon
TNN 7 August 2009, 12:58am IST

MUMBAI: A late sell-off on Thursday, mainly on fears that the monsoon could be far worse than estimated and basket selling by a hedge fund, pulled the sensex down 390 points to close at 15,514. Automobile, FMCG and realty stocks were the worse-hit. The day's session made investors poorer by Rs 96,329 crore with BSE's market capitalisation now down at Rs 51,00,079 crore.

The day's late sell-off surprised many a market player. Between 2 and 3 pm on Thursday, trades worth about Rs 5,500 crore were executed on NSE's cash segment while in the last half hour of the session, the corresponding figure was a whopping Rs 3,100 crore. Usually it is the first hour of the day which accounts for the maximum turnover.

Compared to Thursday's last hour of trade, the first hour saw trades worth about Rs 4,500 crore on NSE, head of dealing at a local brokerage pointed out.

Dealers attributed the end-of-the-day slide to basket selling by a hedge fund through one large foreign brokerage house. In market parlance basket selling means offloading a large mix of stocks, rather than one or two specific stocks, at one go. At times hedge funds, which go by pure technical levels, resort to basket selling after the benchmark index hits a particular level. Dealers said NSE nifty futures(4,730) was at such a level at which the basket selling was triggered.

Brokers also said the latest monsoon rainfall figures--that showed that during the week to August 5, showers in most part of the country had worsened--unnerved investors. As a result stocks of companies which gain from good rainfall were hit the most. While the automobile index on BSE ended 4.4% in the red, FMCG was down 3.3%.

On Thursday, data released by the India Meteorological Department showed that since June 1 till August 5, the country received 25% less raincompared to the 10-year average. The situation was slightly better at 19% till the previous week. For Friday, market players expect some initial weakness but said trading for the later part of the day will be driven by global cues. In Thursday's session, among sensex stocks, Tata Motors ended 6.9% off at Rs 418, Hindalco closed 6.5% off at Rs 104 while Jaiprakash Associates ended 5.5% down at Rs 231.
 

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http://www.ptinews.com/news/218689_Market-retreat-on-monsoon-worries--Sensex-down-3-pc

Market retreat on monsoon worries, BSE down 3 pc

STAFF WRITER 11:31 HRS IST

Mumbai, Aug 8 (PTI) Below the normal rainfall so far this year has halted a strong bull run on the bourses pulling down the key indices Sensex and Nifty by more than three per cent amid a sudden pullout by foreign institutional investors.

The Bombay Stock Exchange 30-share barometer ended the week at 15,160.24, at a net a fall of 510.07 points or 3.26 per cent from its last weekend's close.

The sensex crossed 16,000 level for the first time in 14 months to touch a trading high of 16,002.46 on August 4.

It rose by 2,166 points or 16 per cent in the last three weeks on impressive earnings season.

The broader 50-share Nifty of the National Stock Exchange also tumbled by 155.05 points or 3.34 per cent to close the week at 4,481.40 from its previous weekend's close.
 

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Bulls take a breather, key indices slip 3 percent (Weekly market review))

Bulls take a breather, key indices slip 3 percent (Weekly market review)

2009-08-08 14:30:00

Though benchmark indices touched a 14-month high this week, continued selling pulled them down 3 percent from their last weekly close, as the government voiced concerns that the revival of the economy may be hampered due to deficient rains.

Bourses across the world touched highs not seen in 9-10 months, mainly backed by improved corporate earnings and a positive job market report in the US.

But then, the 30-share sensitive index ( Sensex) of the Bombay Stock Exchange (BSE) fell 510.07 points or 3.26 percent over previous Friday's close and ended trade at 15,160.24 points.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) followed the Sensex, moving down 3.34 percent from its last weekly close to end at 4,481.4 points.

Both Sensex and Nifty had touched a 14-month high Monday.

Mid-sized companies in terms of market capitalisation did no better with the BSE's midcap index closing 2.47 percent lower. However, smaller companies lost less with the BSE smallcap index going down 0.19 percent.

Data with markets watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds were net buyers during the week, having bought scrips worth $154 million.

Indian equities started the week with a bang, with both indices rising smartly. While the Sensex ended Monday with gains of 253.92 points or 1.62 percent at 15,924.23 points, the Nifty moved up a similar 1.6 percent to 4,711.4 points.

Consolidation set in Tuesday, with the bulls stalling their buys and booking profits. The Sensex ended trade on a low, moving down 93.25 points or 0.59 percent to 15,830.98 points. The Nifty, too, shut shop in the red at 4,680.5 points, down 0.66 percent.

Investors started cautious Wednesday, with both Sensex and Nifty languishing in the red for most of the day. It, however, recovered to shoot up into the green, an hour before close, only to give up sizeable gains and end slightly up.

The Sensex shut shop at 15,903.83 points, up 72.85 points or 0.46 percent, while the Nifty closed at 4,694.15 points, 0.29 percent higher.

Thursday saw some heavy selling in frontline stocks in the last trading hour, pulling down the Sensex 389.8 points or 2.45 percent to 15,514.03 points.

Similarly the Nifty shut shop in the red at 4,585.5 points, down 2.31 percent.

The selling continued Friday, as the Sensex closed down 353.79 points or 2.28 percent at 15,160.24 points. The Nifty shut shop in the red at 4,481.4 points, down 2.27 percent.

The top weekly gainers on the Sensex included Reliance Industries (up 2.2 percent), Wipro (up 2 percent) and Hindalco (up 1 percent).

Among top losers were Maruti Suzuki (down 8.6 percent), ITC (down 7.9 percent), Hero Honda (down 7.9 percent), Hindustan Unilever (down 7.5 percent), and DLF (down 7.3 percent).

In other Asian markets, the benchmark index of the Tokyo Stock Exchange touched a 10-month high this week, while European shares rose to a nine-month high Friday.

In the US, stocks rose as the government reported that job losses in July were far less than expected. Key indices like the Dow Jones Industrial Average and the Standard and Poor's 500 closed near their respective 2009-highs Friday.
 

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Fall season? Sensex sheds another 354 pts- Market News-Stocks-Markets-The Economic Times

Fall season? Sensex sheds another 354 pts
8 Aug 2009, 0120 hrs IST, ET Bureau

MUMBAI: Equity benchmarks fell steeply for the second successive session on Friday, as investors booked profits, worried that valuations had become expensive. According to provisional data, foreign institutional investors net sold shares worth over Rs 1,000 crore.



BSE's 30-share Sensex ended the day at 15160.24, down 353.79 points, or 2.3%, over the previous close. With this, the index has shed over 5% from its 13-month high of 16002, touched earlier in the week.

NSE's 50-share Nifty closed at 4481.40, down 104.10 points, over the previous close. Key markets in Asia mostly ended lower. But equity markets in Europe and the US were firm after unemployment rate in the US dropped for the first time since April 2008, further proof that the recession in that economy was easing.

"Indian markets have run up too fast and pullbacks can be expected. The good news is that the economy is recovering and earnings are looking up and there is global liquidity," says Jyotivardhan Jaipuria, MD and head-research, BoA Merrill Lynch.

"Valuations are now trading at 16.5-17 times one year forward. So revaluations will be slow. A big worry on the horizon is the monsoon. Weak monsoon will impact GDP, given that agriculture is 18% of the economy. There could be a corresponding increase in food prices and this could mean inflation going up," he said.

Automobile, banking and realty shares were among the worst performers. Brokerage house Macquarie has a cautious view on Asian equities in general.

"With valuations stretched, and indicators of the global manufacturing cycle at near 20-year highs, the balance of risks to Asian equities is to the downside over the next three months, in our view. A pullback of 15-20% is our base case," the brokerage said in a note to clients.

Macquarie is overweight on Singapore, China and Indonesia, while it is neutral on India.
 

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