Stock Market Discussion

[Pintu]

http://economictimes.indiatimes.com...estors-get-money-back/articleshow/5790293.cms

In a first, duped investors get money back
13 Apr 2010, 0209 hrs IST,ET Bureau

NEW DELHI: Delhi-based investor Suman Parakh is a little bemused at the Rs 300 cheque she got from finance minister Pranab Mukherjee. “I don’t know what to say. Should I be happy or feel sad, I don’t know,” she says with a confused expression on her face.

Ms Parakh is among the 13 lakh investors who’ll benefit from stock-market regulator Sebi’s disbursment of disgorged amount from IPO irregularties of 2004.

“This is a significant milestone since this is the first time that not only the manipulators are being penalised but the amount recovered is being redistributed to the persons who were deprived of their gains,” said Mr Mukherjee at a function to mark Sebi foundation day.

It has been a long journey for investors such as Suman Parakh who had to wait for the committee under the chairmanship of justice D P Wadhwa, (former judge of the Supreme Court of India) to advise on the procedure for identification of persons who might have been deprived on account of IPO irregularities.

The committe was set up following an assurance by the then finance minister P Chidambaram to the Lok Sabha that steps would be taken to compensate persons who had lost out on allocation of shares on account of the IPO scam.

It took almost five years to implement those recommendations, as Sebi appointed an administrator in February 2010 who has since identified 12,74,736 unsuccessful IPO applicants who may have benefited had the scam not happened.

The finance minister said that this should go a long way towards making the investors feel safe and secure while investing in the stock markets.

Already, proceedings against 105 entities has started who cornered shares meant for retail investors in 21 IPOs, including IDFC, NTPC, TCS, YES Bank and Suzlon Energy, during 2003-05 by opening multiple fictitious demat accounts.

“Well, I would have Rs 25,000 if the share were allocated to me. But I think even Rs 300 is not too bad, what I have gained is the faith in the system,” says Ms Parakh.

The finance minister also asked Sebi to double its efforts in protecting and promoting the interests of all investors and making India the best investment destination.

 

[Pintu]

http://timesofindia.indiatimes.com/...rt-over-ULIPs-impasse/articleshow/5813959.cms

Sebi moves court over ULIPs impasse
TIMES NEWS NETWORK & AGENCIES, Apr 16, 2010, 12.34am IST

NEW DELHI: In view of insurance regulator IRDA's decision to challenge Sebi's ban on unit-linked insurance products (ULIPs) in court, the market watchdog on Thursday moved the Supreme Court and some high courts to guard against any ex parte decision.

According to highly placed sources, Sebi filed caveats, including in the high courts of Delhi, Bombay and Hyderabad, but no official comments could be obtained from the market regulator.

The caveat comes a day after the government asked both regulators — Sebi and IRDA — to move court immediately to resolve differences over who will have jurisdiction over ULIPs.

On April 10, Sebi had banned 14 life insurance companies, including those belonging to Tatas, SBI, ICICI, HDFC and the Reliance Anil Dhirubhai Ambani Group, from raising funds through Ulips without its approval. However, the Sebi order did not include the state-run insurance major LIC.

IRDA, on the other hand, asked insurers to ignore the Sebi ban, setting the stage for a long-drawn legal battle between the two regulators.

On Tuesday, Sebi came out with a second order that exempted existing Ulips from the ban, but said its nod was must for issuing new Ulips.

But defiant insurers, under the umbrella of Life Insurance Council, on Wednesday said they would follow IRDA's directions.

The Sebi's action against ULIPs is a result of a long-standing feud between mutual funds and Ulips. Insurance companies, which started selling Ulips around six years ago, offer huge commissions to insurance agents to hardsell Ulips, which combine insurance and investment. During the 2005-2008 bull-run, insurance companies mopped up large sums through Ulips while mutual funds lost business. Sebi wants Ulips to be regulated by norms similar to those regulating mutual funds.

In December 2009 and January 2010, Sebi had issued show-cause notices to 14 insurance companies asking why action should not be initiated against them for issuing investment products without Sebi's permission.

 

[nandu]

Sensex gains most in a day in 10 months, closes 561 points up

Mumbai, May 10 (PTI) The Bombay Stock Exchange benchmark Sensex today registered its biggest single day gain of 561 points in ten months after EU and IMF agreed on a 1 trillion dollar emergency fund for the Union to help contain the region's credit crisis.

The Sensex, which lost over 788 points over the past five sessions, bounced back by 561.44 points to 17,330.55 on positive Asian cues.

Marketmen said European Central Bank's announcement that it will intervene in the public and private bond markets in an effort to help stave off a sovereign-debt crisis bolstered trading sentiment.

Of the 30-BSE index components, 25 stocks gained while six ended in the negative. The uptrend was further fueled by a higher closing in Asian stock markets and better opening in Europe.

The wide-based National Stock Exchange index Nifty shot up by 175.55 to 5,193.

 

[Pintu]

http://www.ptinews.com/news/648329_Sensex-falls-by-189-pts-on-profit-booking

Sensex falls by 189 pts on profit booking

STAFF WRITER 17:10 HRS IST

Mumbai, May 11 (PTI) The BSE barometer Sensex dropped 189 points today as investors booked profit at higher levels, a day after the gauge posted the biggest single-day gain in ten months, amid weak cues from Asian and European markets.

Analysts said stocks fell on doubts over the massive debt relief for the troubled euro-zone nations. Also, strong set of economic data in China amplified concerns of further monetary tightening in the world's fastest growing economy, they added.

In line with global markets, the Bombay Stock Exchange's index Sensex plunged 189.02 points, or 1.09 per cent, to close at 17,141.53 points.

The 30-share index opened higher on strong sentiments, boosted by the euro zone's USD 1 trillion bailout plan, but soon swung into the negative zone following weak cues from Asia.

 

[nandu]

Sensex regains 17k level as banking, refinery stocks rally

Mumbai, June 3 (PTI) The Bombay Stock Exchange benchmark Sensex today regained the 17,000 points-level on sustained buying of banking and refinery stocks by funds and firm global cues.

The Sensex, which had gained 170 points in the previous session, rose further by 280.49 points to settle at 17,022.33, a level last seen on May 13.

The benchmark index rose to touch an intra-day high of 17,072.63 as investor confidence rose on the back of reports of higher US home sales, even though inflation at home increased.

The wide-based National Stock Exchange index Nifty rose by 90.65 points to 5,110.50 after touching the day's high of 5,125.70.

A firming trend in the Asian region and the higher opening in Europe influenced the trading sentiment. The US Dow Jones Average spurted by 225.90 points to 10,249.

 

[nandu]

Sensex extend gains for third day led by FMCG, auto

Mumbai, June 4 (PTI) The Bombay Stock Exchange benchmark Sensex rose by over 95 points today on heavy buying of FMCG and auto stocks.

The Sensex, which gained 450 points in the last two trading sessions, advanced further by 95.36 points to 17,117.69 after touching a high of 17,150.42. The gauge has risen for the third straight day and 1.4 per cent this week.

The wide-based National Stock Exchange index Nifty rose by 25 points to 5,135.50, after touching the day's high of 5,147.90.

The upsurge in the market was backed by strong demand for Hindustan Unilever, a household products maker, which climbed to a four-month high after its board said it will consider buying back shares.

The index-related Hindustan Unilever, a unit of the world?s second-largest consumer-goods maker, advanced 1.74 per cent to Rs 251.50, near its highest close since January 28.

 

[Pintu]

http://timesofindia.indiatimes.com/...oses-above-17K-region/articleshow/6037731.cms

Sensex closes above 17K region
PTI, Jun 11, 2010, 05.41pm IST

MUMBAI: The benchmark Sensex on Friday rose by 143 points to regain the 17,000 points level on the back of surge in RIL, amid robust industrial growth in April. Supported by firm global cues, the 30-share bellwether of the Bombay Stock Exchange settled 142.87 points, or 0.84 per cent, higher at 17,064.95 points to extend the gains for third successive day.

Last time the index closed above the 17,000 points level was on June 4.

The buying support of the last two days continued amid a buzz in the market that Mukesh Ambani-led petrochemical giant Reliance Industries would make a foray into telecom sector by acquiring Infotel. Shares of RIL, which enjoys maximum weight in the index, attracted brisk buying since beginning of the trade and ended higher by 3.03 per cent at Rs 1,046.25, pushing the Sensex up by 143 points.

RIL, after the trade, said it has agreed to acquire a 95 per cent stake in Infotel for Rs 4,800 crore. The announcement of deal came within hours of Infotel emerging as the sole winner of broadband spectrum for the entire country for Rs 12,872 crore.

Buying got a boost from a whopping 17.6 per cent growth rate in industrial production in April, which bolsters the prospects of 8.5 per cent expansion in the whole economy. "The smart rally in RIL on Infotel acquisition news and robust IIP data, coupled with firm global sentiments lifted the market today," SMC Global Vice President Rajesh Jain said.

The wide-based 50-share Nifty index of the National Stock Exchange too closed 0.80 per cent up at 5,119.35 points. The Sensex, however, recorded a loss of 0.3 per cent on a weekly basis.

Apart from oil & gas, banking, auto and consumer goods stocks too recorded smart gains.

ICICI Bank rose by 1.94 per cent, HDFC by 1.74 per cent, HDFC Bank by 1.54 per cent and SBI by 0.47 per cent.

Auto stocks extended gains for another day on robust May sales figures. Mahindra & Mahindra soared 2.11 per cent, Tata Motors 0.74 per cent, Maruti Suzuki 0.80 per cent and Hero Honda 0.30 per cent.

State-run BHEL rose 2.66 per cent. In frontline IT stocks TCS jumped 1.12 per cent and Wipro 0.77 per cent. But, Infosys ended in red with 0.50 per cent loss.

"With global scenario improving backed by strong economic data, and a decent start to the monsoons in India, we believe that markets have a good chance of retesting their previous highs," Reliance Securities said in a note.

 

[Pintu]

http://timesofindia.indiatimes.com/...s-gain-33bn-in-a-week/articleshow/6043076.cms

HDFC Bank-led ADRs gain $3.3bn in a week
PTI, Jun 13, 2010, 11.40am IST

NEW YORK: Led by private sector lender HDFC Bank, Indian stocks trading on the American bourses added USD 3.3 billion to their cumulative market capitalisation last week.

For the week ended June 11, the 16 Indian entities listed on the New York Stock Exchange and Nasdaq added USD 3.3 billion to their market capitalisation, with HDFC Bank alone accounting for USD 1.07 billion, taking its valuation to USD 20.94 billion.

But out of the 16 companies listed as American depository receipts (ADRs), four have witnessed a value erosion in their market capitalisation.

ADRs are bought and sold on American bourses just like stocks and are issued by banks or brokerage firms.

HDFC Bank is followed by IT bellwether Infosys Technologies, whose valuation jumped by USD 937 million to touch a total valuation of USD 33.93 billion.

Next in the list of gainers, copper producer Sterlite Industries saw its market capitalisation rising by USD 554 million to USD 11.6 billion.

Apart from HDFC Bank, Infosys and Sterlite Industries, pharma major Dr Reddy's Laboratories and another private sector lender ICICI Bank, too saw a significant gain in their respective valuations.

Dr Reddy's Laboratories' valuation rose by USD 320 million to a total of USD 5.29 billion, while that of ICICI Bank grew by USD 168 million to USD 20.38 billion.

Among the losers, IT major Patni Computer Systems was the bigger loser, shedding shed USD 55 million from its total market capitalisation to USD 1.65 billion.

Other ADRs include IT firms Mahindra Satyam (earlier known as Satyam Computer Services)and Wipro, BPO companies WNS Holdings, EXLService Holdings and Genpact, Tata Group firms Tata Motors and Tata Communications, whose valuations gained in the range of USD 13 million to USD 79 million.

Meanwhile, the market capitalisation of Internet firms Rediff.com and Sify Technologies and telecom major Mahanagar Telephone Nigam slipped by USD 3 million, USD 4 million and USD 16 million, respectively.

On Friday the US markets ended in positive territory, with the Dow Jones settling up by 38.54 points at 10,211.07 and the S&P 500 gaining 4.76 points to 1,091.60. The Nasdaq was also up by 24.89 points at 2,243.60.

 

[Pintu]

http://timesofindia.indiatimes.com/...t-from-MFs-by-June-17/articleshow/6043071.cms

SEBI seeks dividend compliance report from MFs by June 17
PTI, Jun 13, 2010, 11.40am IST

NEW DELHI: Market regulator SEBI has asked mutual fund houses to submit reports, pertaining to compliance with a recent rule that dividends be paid only from realised gains and not premium income, by June 17.

"SEBI has directed mutual funds to pay dividends only from realised gains and asked them to submit a compliance report on the same by June 17," sources in the fund houses said.

Fund houses, which used to dole out handsome dividends to attract new investors, are now concerned that the move will lessen investors' interest in MFs.

Currently, if an investor buys a unit at its net asset value of Rs 100 by paying a premium of Rs 90 over the face value of Rs 10, dividends would be paid from the premium amount of Rs 90.

This practice is tantamount to paying back unit-holders from their own money.

Under the new rules, SEBI has said that dividends should be paid to investors only when the NAV rises above Rs 100. If the NAV rises from Rs 100 to Rs 120, in the event of gains realised from markets, the fund houses can use Rs 20 to distribute dividends.
"This is done to ensure that the fund houses pay dividends from the actual gains earned from business and that new investors do not get dividends from the premium amount paid," Value Research chief executive Dhirendra Kumar said.

The new norm would hurt most MFs and distributors as they have earned fees in the past by luring investors, mainly from the higher strata of society, into equity schemes for dividends.

Currently, some fund houses pay dividends from the premium amount and they are not sure whether the rule would be changed with retrospective effect, sources said.

The market regulator is trying to make MFs more investor-friendly. In this regard, it has also asked fund houses to disclose their dividend payouts in rupee terms, instead of percentage-wise.

It has also asked MFs to benchmark returns on investment against the Sensex and Nifty, instead of sectoral indices.

In order to increase the accountability of fund houses, the market regulator had, last month, asked MFs to disclose the details of investor complaints on their websites as well as annual reports.

Now, all asset management companies will have to put up data for the bygone fiscal by June 30, 2010, and for each new fiscal within two months of the close of the financial year.

 

[Pintu]

http://timesofindia.indiatimes.com/...-Rs-20K-cr-from-m-cap/articleshow/6043061.cms

Eight out of top-10 cos lose over Rs 20K cr from m-cap
PTI, Jun 13, 2010, 11.39am IST

MUMBAI: In a week that saw the benchmark index Sensex regaining the 17,000-level, eight out of the top-10 firms lost over Rs 20,000 crore from their market capitalisation, with IT major Infosys emerging as the biggest loser.

Meanwhile, two companies -- Reliance Industries and BHEL -- added Rs 8,062.29 crore to their market capitalisation for the week ended June 11.

Out of the eight firms, which lost a whopping sum of Rs 20,311.5 crore from their market capitalisation (m-cap), IT bellwether Infosys Technologies emerged as the biggest loser by losing Rs 5,563.18 crore from its market valuation, taking its total to Rs 1,51,121.24 crore.

Infosys Technologies' shares fell by 3.55 per cent to settle at Rs 2,633.60 at the end of Friday's trade on the Bombay Stock Exchange (BSE).

During the past week, the BSE benchmark barometer Sensex soared 52.74 points, or 0.30 per cent, to settle at Rs 17,064.95.

Corporate behemoth Reliance Industries Ltd (RIL) maintained its top position by adding Rs 5,073.77 crore to its m-cap, taking its total market valuation to Rs 3,42,191.76 crore.

Buoyed by acquisition of Internet service provider Infotel, RIL's share gained 3.03 per cent in yesterday's trade on the BSE, while during the week, the scrip surged 3.65 per cent to close at Rs 1,046.25.

Two state-run firms -- ONGC and NTPC -- together lost Rs 4,087.24 crore from their market valuation.

The country's second most valued firm, ONGC, lost Rs 2,149.56 crore from its m-cap, taking its valuation to Rs 2,52,333.19 crore, and power producer NTPC, at third place, saw its valuation falling by Rs 1,937.68 crore to Rs 1,64,290.79 crore.

Infosys Technologies stood at fourth place and the country's largest software exporter TCS, at the fifth spot, saw its valuation declining by Rs 1,242.82 crore to end the week at Rs 1,48,531.91 crore.

 

[Pintu]

http://economictimes.indiatimes.com...0-on-weak-global-cues/articleshow/6106332.cms

Sensex closes below 17550 on weak global cues
29 Jun 2010, 1713 hrs IST,ET Bureau

MUMBAI: Indian markets ended deep in the red Tuesday mirroring losses in global peers. The worst hit were stocks from metals, realty and banks whereas FMCG and capital goods ended with minimal losses.

Benchmarks opened lower tracking a decline in Chinese markets. Later, the negative opening of Europe pulled the indices further down. Broader markets also gave in to selling pressure and ended lower. According to analysts, the market had run-up in the past few sessions and some correction was expected.

Bombay Stock Exchange's Sensex closed at 17534.09, down 240.17 points or 1.35 per cent. The index touched intraday low of 17465.73 and high of 17777.95.

National Stock Exchange's Nifty ended at 5256.15, down 77.35 points or 1.45 per cent. The index touched a high of 5334.15 and low of 5235.80 in today's trade.

"Market has been rangebound for the past 6-7 sessions between 5368-5224. We don't see too much selling below 5224 in the near term. In case, the index closes below this level then the next supports to watch-out would be 5150-5080. On the upside Nifty is likely to face resistance around 5410 levels," said Hemen Kapadia, CEO, chartpundit.com.

BSE Midcap Index was down 0.65 per cent and BSE Smallcap Index moved 0.62 per cent lower.

Amongst the sectoral indices BSE Metal Index was down 2.74 per cent, BSE Realty Index declined 1.55 per cent and BSE Bankex moved 1.47 per cent lower.

Losers included Hindalco (-4.35%), Reliance Communications (-3.82%), Tata Steel (-3.70%), Reliance Infrastructure (-2.87%) and Jindal Steel (-2.61%).

L&T (0.22%), Bharti Airtel (0.15%) and ONGC (0.13%) were the only index gainers.

Market breadth was negative on the BSE with 1129 declines against 1728 advances.

European markets were reeling under pressure and US stock futures indicated a gap-down opening. At 5 pm IST, Dow Jones futures was down 1.05 per cent, Nasdaq slipped 1.27 per cent lower and S&P 500 declined 1.15 per cent.

 

[bholu3]

"BSE Midcap Index was down 0.65 per cent and BSE Smallcap Index moved 0.62 per cent lower", Hi Sir,,please help me to understand this sentence in your posts "Sensex closes below 17550 on weak global cues"

 

[nandu]

@bholu3,first try to learn about BSE Mid cap and Small cap.Then you will have better understanding about their trading.Actually it means average trading value of BSE Mid cap and Small cap listed shares were traded 0.65 and 0.62 % below to their respective previous closing traded value.
Many global political and economical issue affects indian economy,thats why it says "sensex closes below 17550 on weak global cues."

have patience you will learn sooner.

 

[Zaki]

is there any way i can trade in indian stock exchanges from internet?
if anybody know please do let me know
thanks

 

[Rage]

Yeh, two companies I'd recommend:

http://www.icicidirect.com/
http://www.indiabulls.com/


Use at your own risk.

 

[Zaki]

thanks Rage
oh sure, risk is always mine

Thanks a lot will go through these websites for more info

 

[Rage]

No worries. Although I'm not entirely sure that the facility is available to non-Indians.

Indiabulls' help-desk is pretty awesome, and should be of some assistance.

Good luck trading.

 

[Pintu]

http://economictimes.indiatimes.com...CS-surges-post-resuls/articleshow/6176824.cms

Sensex ends in green; TCS surges post resuls
16 Jul 2010, 1659 hrs IST,Mohammed Sabir,ET Bureau

MUMBAI: Equities ended a lacklustre session on a positive note on Friday. Lack of cues from global peers prevented the bulls from breaching the resistance levels. The broader markets continued to outperform the benchmarks.

Bombay Stock Exchange's Sensex ended at 17955.82, higher by 46.36 points or 0.26 per cent. The 30-share index touched intraday high of 17980.27 and low of 17892.16.

National Stock Exchange's Nifty closed at 5393.90, up 15.15 points or 0.28 per cent. The broader 50-share benchmark touched a high of 5401.35 and low of 5374.40 in today's trade.

"As long as we hold 5320 there are chances of Nifty going moving towards 5000-5520. Market may see selling pressure near these levels and the index may drift to 5250-5150 levels. We are bearish on Maruti, Cipla and GAIL whereas Reliance Industries looks bullish," said Jyoti Nagrani, technical analyst, Finquest Securities.

The BSE Midcap Index advanced 0.44 per cent and BSE Smallcap Index moved up 0.66 per cent.

Buying was seen in IT and banks while oil&gas and metal scrips led the losers. BSE IT Index moved up 1.97 per cent and BSE Bankex advanced 0.79 per cent. BSE Oil&gas Index moved 0.34 per cent lower and BSE Metal Index declined 0.27 per cent.

TCS (6.16%), Tata Motors (2.65%), ICICI Bank (2.32%), Reliance Communications (1.93%) and ONGC (1.32%) were the top Nifty gainers.

Tata Consultancy Services reported standalone net profit of Rs. 1556.41 crore for the quarter ended June 30, 2010 on net sales of Rs. 6410.95 crore. Consolidated net profit for the quarter to June 2010 was Rs 1906.07 crore, up 24 per cent year on year. Set sales grew 14 per cent from the year ago quarter to Rs. 8217.28 crore.

Mahindra and Mahindra (-2.06%), HDFC Bank (-1.24%), Reliance Industries (-0.93%), HDFC (-0.86%) and Jindal Steel (-0.80%) led the decline.

Market breadth was positive on the BSE with 738 advances against 562 declines.

 

[Pintu]

http://timesofindia.indiatimes.com/...-points-on-Asian-cues/articleshow/6194641.cms

Sensex closes 81 points higher
IANS, Jul 21, 2010, 10.05am IST

MUMBAI: A benchmark index for Indian equities on Wednesday closed 81 points higher than its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,873.92 points, closed at 17,959.13 points (provisional), 80.99 points or 0.45 percent up from its previous close at 17,878.14 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty ended at 5,395.3 points, up 0.51 percent from its previous close at 5,368 points.

Broader markets indices also shut shop in the green, with the BSE midcap index closing 0.48 percent up and the BSE smallcap index ending 0.36 percent higher.

Metals stocks outshone while realty stocks saw some buying.

 

[Pintu]

http://economictimes.indiatimes.com...nda-slips-3-pc-on-BSE/articleshow/6237623.cms

Hero Honda slips 3 pc on BSE
30 Jul 2010, 1744 hrs IST,PTI

MUMBAI: Shares of the country's largest two-wheeler maker Hero Honda today plunged nearly 3 per cent on the Bombay Stock Exchange (BSE), a day after it reported a fall in its first quarter result.

Hero Honda settled at Rs 1,815.40, down 2.95 per cent, on the BSE. During the day, the scrip tanked 4.26 per cent to touch a month low of Rs 1,790.65.

"The first quarter result of the company was not in line with the market expectation, as the bottom line was hit due to rise in commodity prices. The scrip has also witnessed good amount of profit-taking in the last few trading sessions," Ashika Stock Brokers research head Paras Bothra said.

On the National Stock Exchange also, the two-wheeler maker saw a downfall and closed down 3.17 per cent at Rs 1,814.90 per piece.

On the volume front, a total of over 18 lakh shares of Hero Honda changed hands on the two bourses.

The BSE benchmark Sensex too closed on a weak note at 17,868.29, down 123.71 points.

Yesterday, the company had reported a 1.68 per cent decline in its profit after tax for the quarter ended June 30, at Rs 491.69 crore, on concerns of rising commodity prices.

The company's MD and CEO Pawan Munjal while commenting on the result had said it was a challenging quarter for the bottomline due to rise in commodity prices. Switching over to the new emission norms has also added to the expenditures.