Stock Market Discussion

[Pintu]

http://timesofindia.indiatimes.com/...ose-to-intra-day-high/articleshow/6248336.cms

Sensex closes close to intra-day high
IANS, Aug 2, 2010, 06.15pm IST

MUMBAI: Buoyed by steady buying, a benchmark index for Indian equities on Monday ended 226 points higher than its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,911.31 points, closed at 18,094.66 points (provisional), 226.37 points or 1.27% up from its previous close at 17,868.29 points.

It had touched an intra-day high of 18,104.24 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty ended 1.29% up at 5,436.7 points.

Broader markets indices were also in the green with the BSE midcap index trading 1.13% up and the BSE smallcap index 0.99% higher.

 

[Pintu]

http://timesofindia.indiatimes.com/...touches-30-month-high/articleshow/6258840.cms

Sensex rises 103 points, touches 30-month high
TNN, Aug 5, 2010, 01.18am IST

MUMBAI: Technology stocks led the BSE sensex to a two-and-half-year high on Wednesday, backed mainly by a robust quarterly numbers from the US-listed Indian IT company Cognizant Technology Solutions. The sensex opened flat but an end-of-the-session rally took the index to close at 18,217, up 103 points on the day. In early trade the index had risen to almost 18,250 level, a level last seen in February 2008. The day's gains were also helped by buying foreign funds, although domestic funds continued to remain net sellers, exchange data showed.

On Tuesday, Congizant results beat market expectations, and the company raised its full year projections. As a result, on Dalal Street, technology major TCS rallied nearly 4.5% to Rs 870. In intra-day trade, the stock had rallied to Rs 871, a new all-time peak. Among other technology majors, Wipro gained 4% to Rs 429, while Infosys ended 3% to Rs 2,868. The combined effect led BSE IT Index up by over 3%.

Other than the rally in technology stocks, the day's rally was also helped by FII buying, with net inflows at Rs 689 crore, BSE data showed. On the other hand, domestic funds logged a net outflow of Rs 276 crore. Sebi data showed so far in 2010, net FII inflow is almost at $11 billion, that is also helping the strength of the rupee which is at 46.08 to the dollar, a one-month high level.

Brokers feel that the market is at a spot where it is rightly priced and hence hard for investors to look for value buying.

 

[Pintu]

http://economictimes.indiatimes.com/Sensex-ends-near-18300-realty-metals-up/articleshow/6281967.cms

Sensex ends near 18300; realty, metals, banks up
9 Aug 2010, 1702 hrs IST,Mohammed Sabir,ET Bureau

MUMBAI: Equities ended near day's highs Monday, taking cues from positive European peers. The rally was led by realty, metals and banks while oil&gas space ended marginally lower.

Indices turned rangebound after a positive start due to lack of direction from Asian peers. Momentum picked up with the positive opening of Europe but indices fell shy of key resistance levels.

National Stock Exchange's Nifty ended at 5486.15, up 46.90 points or 0.86 per cent. The index touched a high of 5492.30 and low of 5433.25.

Bombay Stock Exchange's Sensex closed at 18287.50, up 143.51 points or 0.79 per cent. The 30-share index hit a high of 18309.25 and low of 18139.90.

"Broadly speaking for the past four weeks, indices have been trading sideways in the range of 17840 / 5350 and 18300 / 5480 (Sensex / Nifty respectively). Any breakout or breakdown from mentioned levels would dictate the direction of the trend. Presently, there is no weakness on the chart as the intermediate trend is up.

We maintain our view that a strong upward momentum would resume only once the indices trade and close above 18315/5480 levels. On the upside, the indices could test 18360 to 18600 / 5500 to 5600 levels.

On the downside, 17840 / 5350 remains crucial support level for the coming week. Any breach of this level would mean loss of upside momentum and we could witness further weakness," said an Angel Broking note.

The BSE Midcap Index added 1.16 per cent and BSE Smallcap Index moved higher by 1.42 per cent.

Amongst the sectoral indices, BSE Realty Index surged 4.47 per cent, BSE Metal Index gained 1.52 per cent and BSE Bankex advanced 1.28 per cent.

DLF (3.97%), ICICI Bank (3%), Tata Motors (2.75%), Reliance Communications (2.46%) and ACC (2.30%) were amongst the top Sensex gainers.

Losers included HDFC Bank (-0.68%), Reliance (-0.66%) and Cipla (-0.28%).

Market breadth was positive on the BSE with 1958 gainers against 1002 losers.

Meanwhile, European markets were in the green and Wall Street is likely to follow suit. At 4:45 pm IST, Dow Jones futures was up 0.30 per cent, S&P 500 gained 0.36 per cent and Nasdaq 100 moved 0.33 per cent higher.

 

[Pintu]

http://economictimes.indiatimes.com...on-for-profit-booking/articleshow/6290281.cms

RBI against securitisation for profit booking
11 Aug 2010, 0250 hrs IST,ET Bureau

MUMBAI: The Reserve Bank of India, or RBI, has said that it wants banks and non-banking finance companies, or NBFCs, to undertake securitisation only for risk transfer, and not for profit booking.

RBI deputy governor Shyamala Gopinath said that the central bank wants to have sustainable securitisation. "We cannot have markets growing on the basis of arbitrage. We need securitisation, we need to make bank assets liquid. But then, it has to be a true risk transfer. If the credit enhancement itself is excessive, then it is not true transfer of risk."

Going by the feedback received on the draft rules on securitisation, many bankers wanted to restrict the minimum retention requirement below 5% for retail loans, she said.

According to the draft rules unveiled in April, NBFCs and banks were required to retain their loans in their books for one year and retain 10 % of the securitised loan amount for a loan with an original maturity for two years. If the loan is for two years, the originator shall retain the loan for nine months (called minimum holding period) in its loan book, and retain 5% of the securitised amount (called the minimum retention requirement).

Many bankers were of the view that volumes would fall further, once the final norms were in place, as it would be difficult to securitise asset classes with short term loans considering that MHPs are long, and there is no differential holding periods based on tenures. PK Sethi, GM-securitisation, IDBI Bank said: "The minimum retention requirements should be tailor made for various asset classes, depending upon their tenures." Curently, IDBI Bank is "only into buying securitisation, mainly for our retail loans, though we have made use of selling opportunities that have come our way in the past," he said.

The total volumes traded in structured finance assets have fallen from `65030 crore in 2007-08 to `42,590 crore in 2009-10. Lavesh Sardana, VP, head-securitisation at HDFC Bank, said: "Once the guidelines come out, some of the asset classes will dry up, especially the MFI and gold loans are bound to be hit. Priority sector is the major driver of securitisation for most banks. We have been predominantly buying from issuers. But we would make use of arbitrage options, as and when they come our way."

The major asset classes that are securitised against are commercial vehicle loans (55%) and home loans (18%).

But some banks are of the view that the regulations would legitimise the securitisation market. Sudipto Basu, AGM, structured finance, ICICI Bank said: "Nobody would have the wherewithal to hold on the loan in their loans books for such long terms. In our case, 30% of our loans to the priority sector are securitised. We do not originate any securitisations. But we buy from the issuers. Once the draft guidelines come out, volumes are obviously going to come down. But regulations always will legitimise the market."

Ms Gopinath said that RBI will soon launch credit default swaps or CDS. "We are introducing credit default swaps at the time when the world is shying away from it. So we need to understand the risks we will be taking. We need to look at how the CDS market is going to develop."

She said that it was important for the corporate sector to understand the implications because it will affect their credit pricing. "Everyone should understand the impact of the CDS market on their own pricing," she said.

 

[Pintu]

http://economictimes.indiatimes.com...-negative-global-cues/articleshow/6293423.cms

Sensex down 150 points on negative global cues; IT leads fall
11 Aug 2010, 1641 hrs IST,PTI

MUMBAI: The BSE benchmark Sensex today fell by 150 points on sustained selling of blue-chips, led by IT stocks, after the US Federal Reserve expressed concern over the state of the American economy.

Amid a weakening trend in Asia and a lower opening on European bourses, the Bombay Stock Exchange's 30-share index -- which lost 67 points in the previous session -- fell by another 149.80 points to 18,070.19 after the US Federal Reserve said US economic growth will be "more modest" than anticipated, with software exporters the worst hit.

The broad-based National Stock Exchange index Nifty also fell by 40.10 points to 5,4520.60, after trading between a low of 5,412.00 and high of 5,474.60.

Indian software companies earn more than 50 per cent of their revenue from the US and Europe. Software services provider, Infosys Technologies, the second-most valuable scrip on the Sensex, lost Rs 21.85 to Rs 2,810.80, while Wipro fell by Rs 9.75 to Rs 418.15 and Tata Consultancy Services by Rs 5.70 to Rs 858.85.

After a better start, early gains on the Sensex were eroded after reports of a weakening trend in the Asian region and a lower opening in Europe. The Japan's Nikkei lost 2.70 per cent and Hong Kong's Hang Seng 0.83 per cent, while London's FTSE opened 1.68 per cent lower.

Selling pressure further gathered momentum after leading mobile phone services provider Bharti Airtel plunged by 1.42 per cent to Rs 319.70 following the announcement of a 32 per cent slump in net income for the first quarter as price cuts reduced margins.

Trading was more of a stock-specific nature, with the result that 24 stocks in the 30-BSE index components fell, while six ended with gains.

However, the downtrend was cushioned by Tata Motors, which rose by Rs 49.35 to Rs 1,006.65, extending gains for the sixth consecutive day. The stock yesterday rose to the highest level in at least 19 years after the company posted a first quarter profit after recording a loss in the corresponding period a year ago.

Realty and banking stocks, which were the fancy of investors in the recent past, were the major losers today on emergence of profit-booking. The realty sector index suffered the most, losing 1.81 per cent to 3,555.85, followed by the banking index, which shed 0.95 per cent to 11,829.08.

 

[Pintu]

Markets ignore rising food inflation, Sensex gains 133 points - The Economic Times

9 Sep, 2010, 04.56PM IST,PTI
Markets ignore rising food inflation, Sensex gains 133 points

MUMBAI: Ignoring rising food inflation, the BSE benchmark Sensex today jumped by 133 points to close at a 31-month high on persistent FII inflows, with financial stocks registering most of the gains.

Rising for the fourth session in a row, the Bombay Stock Exchange's 30-share index closed with a gain of 132.95 points, or 0.71 per cent, at 18,799.66 -- its best close since January 18, 2008, when it settled at 19,013.70.

The wide-based 50-share Nifty index of the National Stock Exchanged increased by 0.57 per cent to finish at 5,640.05.

"Markets are doing well on the back of relentless inflow from overseas fund houses, which are bullish on India's growth story," Unicon Financial CEO Gajendra Nagpal said.

On a weekly basis, the Sensex recorded a gain of 3.17 per cent. Despite mixed cues from global peers, Indian markets traded with a positive bias throughout the week.

Stock markets will remain closed tomorrow on the occasion of the Eid-ul-Fitr festival.

"Indian stock markets have so far displayed resilience to news flow pertaining to the global economic slowdown and sovereign debt concerns," brokerage house Reliance Securities said in a note.

"However, there is a possibility of heightened volatility that may creep into domestic markets in these uncertain global times," it added.

Barring oil & gas and pharma, all the sectoral indices on the BSE ended in the green, with financial, consumer goods and PSU stocks leading the gains.

It was another day when banking heavyweights like SBI, HDFC Bank and ICICI Bank led from the front. SBI zoomed 3 per cent, HDFC Bank 2.67 per cent and ICICI Bank 1.48 per cent.

With a jump of 3.16 per cent, M&M was the top gainer in the Sensex pack. L&T rose nearly 1 per cent and DLF 1.29 per cent.

"Investors are confident that in the coming period, inflation will come down as the monsoon has been good," Nagpal added.

Food inflation increased to 11.47 per cent for the week ended August 28, rising for the second consecutive week, fuelling speculation that the Reserve Bank will hike policy rates at its meeting on September 16.

IT bellwether Infosys continued to move forward and closed 0.67 per cent higher. Tata Steel rose 2.38 per cent, BHEL 1.76 per cent, Hero Honda 1.54 per cent, NTPC 1.45 per cent and HUL 1.33 per cent.

The investor sentiment was also upbeat after the successful placement of debt worth USD 1.3 billion by Portugal eased concerns about sovereign default in Europe, a broker said.

Of the 30 Sensex stocks, 18 ended with gains, while 12 closed in the red.

Reliance Industries, which holds the highest weightage in the Sensex, lagged behind and ended 0.22 per cent lower at Rs 957.95.

 

[Pintu]

Sensex zooms 409 points to reclaim 19k peak

Sensex zooms 409 points to reclaim 19k peak

fe Bureau
Posted: Tuesday, Sep 14, 2010 at 0111 hrs IST
Updated: Tuesday, Sep 14, 2010 at 0256 hrs IST

Mumbai: Saluting the remarkable 13.8% IIP growth number for July and shrugging off any worries about an impending rate hike, the Sensex on Monday surged past the 19,000-mark, gaining more than 400 points during the session. Foreign Institutional Investors (FIIs) who have bought close to $14 billion in Indian equities so far in 2010, shopped for half a billion dollars worth of stocks, seemingly unconcerned about the valuations. The Sensex is now up more than 20% since the lows of May 2010, having gained 7% in just eight trading sessions. The rise was driven by financial stocks including State Bank of India and HDFC Bank, which hit lifetime highs as the Sensex rose 2%.

Andrew Holland, CEO (equities), Ambit Capital observed that globally, many pension funds were increasing their India weightage and so, a re-rating of the market was probably warranted. "We see the Sensex at 23,000 by end-March 2011," he said.

Added Rashesh Shah, chairman, Edelweiss Capital:"The underlying India story continues to be good and FII flows are likely to remain strong. It's true the breadth of the rally hasn't been as good as one would have liked, but that should happen."

Suresh Mahadevan, managing director and head (India research), UBS Securities observed that several FIIs were buying into India for the first time and the trend was discernible from the buying pattern of these investors who picked up several stocks at a time.

In terms of valuations, India is now trading at a steep premium to its Asian peers. At a trailing price-to-earnings (P/E) multiple of 18.73 times, India is now way more expensive than China and South Korea, which trade at 13 times each. Foreign funds have invested $13.75 billion in Indian equities so far in 2010, resulting in a 10% rise for the Sensex. India is among the best-performing markets in Asia this year.

Asian equities too rallied on Monday led by positive industrial output data from the US and China. Said Holland: "In the second half of 2011, we will start to see the global economy recover."

On Sunday, the Basel Committee on Banking Supervision introduced new tighter regulations for banks to avoid a repeat of the financial crisis and gave lenders eight years to comply, which gave a further fillip to markets. In India, banking stocks, main beneficiaries of India's economic growth story, gained the most on Monday, contributing half of the gains, followed by oil and gas and industrials.

Gaining for the fifth session, the Sensex climbed 408.7 points, or 2.2%, to 19,208.33, while the 50-share NSE Nifty advanced 120 points or 2.1% to 5,760. Both the indices posted their biggest single-day percentage gain since May 26, 2010 and closed at the highest level since January 17, 2008.

Only four out of the 30 Sensex stocks fell. The overall breadth was mixed with equal number of shares advancing and declining. In a reversal of trend, the BSE Midcap and Smallcap indices gained just 0.77% and 0.22% respectively, underperforming benchmark indices. Major Asian markets closed with gains, while most European markets opened over 1% higher. All sectoral indices ended up, with the banking, oil & gas, realty and metals clocking maximum gains.

The biggest Sensex gainer was SBI, which soared 5.52% to Rs 3,147, followed by HDFC, which advanced 5.32% to its all-time high of Rs 664. Reliance Industries, with the highest index weight gained 3.6% to Rs 992. Only Wipro, Reliance Communications, Hero Honda and Bharti Airtel ended on the losing side.

 

[Pintu]

Regards

 

[Pintu]

Nifty closes at 5885 on positive global cues - The Economic Times

17 Sep, 2010, 05.09PM IST,ET Bureau
Nifty closes at 5885 on positive global cues

MUMBAI: Equities ended the week on a higher note Friday riding high on positive cues from global peers. Buying was seen across the board as funds and retail investors both participated actively on expectations that the bull-run may continue next week.

The benchmarks also got support from Reliance Industries which surged on reports of talks with US-based Chesapeake Energy to buy stake in Eagle Ford shale gas project.

Indices resumed upward journey after taking a brief halt in previous session. All the sectoral indices were in the green with healthcare,oil&gas and metals stocks in the lead. According to experts the rally is likely to continue and market may test all-times highs.

"We are witnessing a robust broad based rally and there is no doubt on its sustainability. There was a sound break-out on huge volumes around 5650-5700 levels, which will now act as strong support.

On the upside, the Nifty is likely to test 6300 levels in next couple of months. Traders and investors alike should hold on to their long positions," said DD Sharma, senior VP research, Anand Rathi.

National Stock Exchange's Nifty closed at 5884.95, up 56.24 points or 0.97 per cent. The index touched a high of 5898.40 and low of 5828.70 in today's trade.

Bombay Stock Exchange's ended at 19594.75, up 177.26 points or 0.91 per cent. The 30-share index hit intraday high of 19639.18 and low of 19436.71.

BSE Midcap Index was up 1.43 per cent and BSE Smallcap Index moved 0.93 per cent higher.

Amongst the sectoral indices, BSE Healthcare Index advanced 2.05 per cent, BSE Oil&gas Index advanced 1.78 per cent and BSE Metal Index gained 1.73 per cent.

Reliance Communications (6.54%), Ranbaxy Laboratories (5.51%), Ambuja Cements (4.92%), ABB (4.22%), Idea Cellular (3.87%) and Reliance Industries (2.63%) were amongst the top Nifty gainers.

Wipro (-1.05%), HDFC (-0.89%), Maruti (-0.70%), NTPC (-0.68%) and Siemens (-0.57%) were the top losers.

Market breadth was positive on the NSE with 1948 gainers against 1285 losers.

 

[Pintu]

Markets have another good week

Markets have another good week
SI Reporter / Mumbai October 2, 2010, 10:44 IST

It was a climactic end to the week. The Sensex began the week on a shaky note after gaining by a stupendous 450 points and scaling the 20k peak in the preceding week. The BSE-benchmark index pottered around the important psychological level in the earlier part of the week before receiving a shot in the arm on Thursday, thanks to the encouraging derivatives rollovers data and covering of intra-day short positions on what was the derivatives expiry day. And the short-covering just got more intense on the following day; the markets began the first day of October with stupendous returns of nearly 400 points and thereby heralded yet another good week for the indices, the five consecutive week of gains. The Sensex ended the week at 20,445 - gaining 400 points o 2% this week. The Nifty jumped 2% at 6,143.

Infact, the month of September signified the third largest ever gains for the markets on a monthly basis, with the Sensex adding a whopping 2000+ points during the month.

Meanwhile, the wholesale food inflation rose to 16.44% for the week ended September 18 compared to 15.46% per cent in the previous week as heavy rains and floods in some parts of the country resulted in a temporary disruption in the supply of essential food items.

Thursday's Allahabad High Court ruling that the disputed land in Ayodhya would be split between the Hindus and the Muslims, dousing immediate fears of a violent backlash, aided the rally.

Data on Friday suggested that exports rose for the tenth straight month in August 2010, growing an annual 22.5% to $16.64 billion.

The beginning of the week saw markets being subdued to negative as September expiry approached. The Sensex touched a low of 19,864 on Thursday. However, markets gained once again on Friday to touch its highest in as many as 32-months. The Sensex touched a high of 20,475.

BSE metal index soared 5.2% this week to 17,517. Capital goods, auto and banking sectors also saw good gains and ended 2-3% higher.

However, the Oil & gas and the FMCG index ended slightly lower at 10,603 and 3,744, respectively.

The mid and small-cap indices underperformed. While the mid-cap index added 1.2% at 8,214, the small-cap jumped 1.3% to 10,403.

SAIL load the gainer's list among metal stocks - jumping 8.6% to Rs 223. JSW Steel surged 7% to Rs 1,369. Hindalco rallied 7% to Rs 204.

Tata Steel, Jindal Saw, Jindal Steel and Welspun Corp gained 4-6% each.

Other than metal stocks, realty stocks shone in the market this week. DLF jumped 6% to Rs 388. Jaiprakash Associates added 2.3% to Rs 124.

PSU stocks were up. BHEL gained 5.5% to Rs 2,590. NTPC added 4.6% to Rs 219.

Tata Power advanced 4.6% to Rs 1,390. Tata Motors, Larsen & Toubro, SBI, Mahindra & Mahindra and Cipla were up 2-4% each. IT stocks - Wipro, TCS and Infosys gained 2-3% each.

Meanwhile, ONGC shed 2% at Rs 1,406. FMCG stocks were weak. Hindustan Unilever dropped 1.5% to Rs 310. ITC was unchanged at Rs 179.

Hero Honda was the auto loser among Sensex stocks and dropped 1% while ACC from the cements space slipped 1.3% this week.

Telecom sector showed weakness as Reliance Communications and Bharti Airtel slipped 0.8% each to Rs 168 and Rs 365, respectively.

 

[Pintu]

Sensex scales to 33-month high on FIIs inflow - The Times of India

Sensex scales to 33-month high on FIIs inflow
PTI, Oct 6, 2010, 04.26pm IST

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Wednesday scaled to a fresh high level in 33-month on strong foreign fund's inflow on optimism of encouraging quarter earnings by corporates.

The Sensex shot up by 135.37 points to close at 20,543.08, a level never seen since January 2008, as foreign funds bought more equities than they sold for the 24 straight session.

The benchmark touched the day's high of 20,669.95. The second broad-based National Stock Exchange index- Nifty shot up by 40.65 points to end at 6,186.45, after touching 6,223.40 at the outset.

In 30-BSE index components, 20 stocks ended with gains and ten declined on profit-booking.

While the two most heaviest with their 23 per cent weightage on the Sensex - Reliance Industries and Infosys Technologies spurted on investment buying, the most battered realty sector stocks regained strength after a Morgan Stanley- backed Oberoi Realty began selling shares in an initial public offering.

The index-heaviest Reliance Industries spurted by Rs 21.35 to Rs 1,044.60 and the software exporter Infosys Technologies by Rs 17.65 to Rs 3,101.70.

The realty sector index gained the most by adding 2.75 per cent to 4,015.82 as Jaiprakash Associates, a builder of dams, roads and bridges rose by Rs 8.65 to Rs 137.95 and DLF Ltd by Rs 2.80 to Rs 392.75.

The realty sector also boosted on reports that the Department of Economic Affairs seeking to allow borrowers to raise funds annually in global markets for financing projects.

Trading sentiment further bolstered on reports of a firming trend in Asian region and higher opening in Europe this afternoon, after US Federal planning to take more measures to boost the economic growth.

 

[Pintu]

Sensex falls by 228 pts on weak global cues, inflation - The Times of India

Sensex falls by 228 pts on weak global cues, inflation
PTI, Oct 7, 2010, 04.43pm IST

MUMBAI: The Bombay Stock Exchange benchmark Sensex today lost 228 points to drop from 33-month record levels due to profit booking sparked by reports of high inflation and weak global trends.

The 30-share BSE barometer fell sharply by 227.76 points to 20,315.32 points as recent gainers like realty, software exporting and financial stocks tumbled. The index had gained 135.37 points to close at 33-month high of 20,543.08 yesterday.

The broad-based National Stock Exchange index Nifty fell by 66.15 points to close at 6,120.30 points.

Weak advices from the global market mainly affected the market sentiment, brokers said.

European markets declined in the early trade ahead of interest rate decision from the Bank Of England and the European Central bank. The key indices in France, Germany and London were trading lower by 0.03 per cent to 0.08 per cent.

Food inflation remained at a high level of 16.24 per cent as of September 25, official data released today showed.

In the 30-BSE index components, 17 stocks closed with losses while 13 ended in the positive zone.

IT stocks led by Infosys Technologies closed down after a US report raised concern about the global economic recovery after the private job payroll fell. The software exporting companies get more than 50 per cent of their revenue from the US and European markets.

Infosys closed over 1 per cent, or Rs 46.45, down at Rs 3,055.25.

The realty sector index suffered the most losing 2.80 per cent to 3,930.31, followed by metal index which fell by 1.70 per cent to 17,654.71. The IT sector index lost 1.30 per cent to 6,030.26 and capital goods index by 1.26 per cent to 16,325.56 points.

With the profit-booking spreading over a wide front, smallcap index lost 0.89 per cent to 10,541.69 and midcap index by 0.68 per cent to 8,369.62.

Asian stocks ended lower as investors remained cautious ahead of the release of Friday's US job data. The key indices in Singapore, South Korea and Japan fell by 0.07 per cent and 0.73 per cent while Hong Kong index edged up by 0.02 per cent.

 

[Rahul92]

China rate rise hits Asian shares

Asian shares have fallen after China unexpectedly raised interest rates for the first time since the onset of the global financial crisis.

Japanese shares fell more than 2% before recovering slightly, while Hong Kong's Hang Seng index also slipped.

Japanese shares fell more than 2%


Sentiment was also hit by a fall in US shares on Tuesday, as banks suffered after Bank of America posted a $7.3bn (£4.6bn) loss due to a one-off charge.

Analysts warned China's rate rise could continue to undermine share prices.

In the last hour of trading, Japan's Nikkei 225 index was down 158 points, or 1.7%, at 9,382. The Hang Seng was 152 points, or 0.6%, lower at 23,612.

"China's rate hike and the sharp fall on Wall Street were key factors that put a lot of downward pressure on the Nikkei," said Nagayuki Yamagashi at Mitsubishi UFJ Morgan Stanley Securities.

The Dow Jones fell by 165 points, or 1.5%, to 10,978.62.
'Negative sentiment'

Earlier on Tuesday, China surprised markets by announcing a rise in its key interest rates.

The People's Bank of China said it would raise its one-year lending rate to 5.6% from 5.31% and its one-year deposit rate to 2.5% from 2.25%.

The move raised concerns among investors about the impact of slower growth in the world's fastest-growing economy.

"We expect negative sentiment to remain in the short run, weighing on risk assets globally, as global markets are very sensitive to slowdown risk in the country that led the world out of recession," said Credit Agricole bank.

 

[badguy2000]

Asian shares have fallen after China unexpectedly raised interest rates for the first time since the onset of the global financial crisis.

Japanese shares fell more than 2% before recovering slightly, while Hong Kong's Hang Seng index also slipped.

Japanese shares fell more than 2%


Sentiment was also hit by a fall in US shares on Tuesday, as banks suffered after Bank of America posted a $7.3bn (£4.6bn) loss due to a one-off charge.

Analysts warned China's rate rise could continue to undermine share prices.

In the last hour of trading, Japan's Nikkei 225 index was down 158 points, or 1.7%, at 9,382. The Hang Seng was 152 points, or 0.6%, lower at 23,612.

"China's rate hike and the sharp fall on Wall Street were key factors that put a lot of downward pressure on the Nikkei," said Nagayuki Yamagashi at Mitsubishi UFJ Morgan Stanley Securities.

The Dow Jones fell by 165 points, or 1.5%, to 10,978.62.
'Negative sentiment'

Earlier on Tuesday, China surprised markets by announcing a rise in its key interest rates.

The People's Bank of China said it would raise its one-year lending rate to 5.6% from 5.31% and its one-year deposit rate to 2.5% from 2.25%.

The move raised concerns among investors about the impact of slower growth in the world's fastest-growing economy.

"We expect negative sentiment to remain in the short run, weighing on risk assets globally, as global markets are very sensitive to slowdown risk in the country that led the world out of recession," said Credit Agricole bank.

the boss of Chinese central bank seems to have more influnence on India's stock market than anyone else now.

 

[Pintu]

http://www.thestatesman.net/index.php?option=com_content&view=article&id=347442&catid=35

Sensex ends at an all-time high on capital inflow

4 November 2010
Press Trust of India
MUMBAI, 4 NOV: The Samvat year 2066 ended on a cheerful note with the BSE benchmark Sensex closing at an all-time high of 20,893.57 points on heavy capital inflows.
The wide-based National Stock Exchange's index Nifty too spurted by 121.30 points to close at record high of 6,281.80 points.
On the eve of Diwali, the 30-share benchmark Sensex shot up by 427.83 to 20,893.57, surpassing its previous record closing level of 20,873.33 on 8 January, 2008. The measure was still below an intra-day high of 21,206.77 on 10 January, in the same year.
Trading sentiment turned bullish as the US central bank expanded support for the worlds biggest economy and the mega public offering by Coal India gained over 39 per cent in its debut trading today. Easing food inflation was another supporting factor for the market.
This years nearly 20 per cent rally makes the Sensex the best performer among the worlds 10 biggest stock markets as foreign funds inflows surged 80 per cent, helping to absorb the country's largest initial share sale by Coal India Ltd.
In 30-BSE index components, 28 stocks closed with gains and two ended with losses, while all the sectoral indices finished in positive zone. The upsurge was important for the investors and broker fraternity ahead of the special 'Mahurat trading on Diwali tomorrow between 1800 to 1915 hrs to start new accounts by registering gains.
The Muhurat trading, considered the most auspicious time to start investments, normally advise them to start new accounts by making profits. The markets generally develop profit booking in the special trading in more than a decade. The most-heaviest on the Sensex, Reliance Industries shot up by Rs 39.50 to Rs 1,104.75 and second most heaviest Infosys Technologies by Rs 52.50 to Rs 3,076.55. State Bank of India also rose by Rs 162.85 to Rs 3,434.90. Three carry nearly 29 per cent weightage on the index.
The oil and gas sector index gained the most by 2.77 per cent to 11,147.90 followed by metal sector index by 2.27 per cent to 17,467.93. The banking sector index rose by 2.12 per cent to 14,961.26. The auto index rose by 1.67 per cent to 10,241.05 as stocks of Tata Motors Ltd., the best performer on the benchmark index this year, rose by Rs 47.80 to Rs 1,233.10.

 

[vinay535]

arrey bhai if anyone has any daytrade tips , pls let me know

 

[adilali99]

Stock Exchange

F o r i x j i n . c o m >> Current Status of Stock Exchange | Currency Exchange Rates | Currency Exchange News

Stock Exchange, Currency Exchange Rates,Currency Exchange NewsBeing the main force driving the global economic market, currency is no doubt an essential element for a country. However, in order for all the countries with different currencies to trade with one another, a system of exchange rate between their currencies is needed; this system, is formally known as foreign exchange or currency exchange.

In the early days, the system of currency exchange is supported solely by the gold amount held in the vault of a country. However, this system is no longer appropriate now due to inflation and hence, the value of one's currency nowadays is determined through the market forces alone. In order to determine the value of a currency's exchange rate, two main types of system is used which is floating currency and pegged currency.

F o r i x j i n . c o m >>

 

[Pintu]

http://economictimes.indiatimes.com...-2-realty-metals-down/articleshow/6935546.cms

16 Nov, 2010, 03.42PM IST,ET Bureau
Sensex falls by over 2%; realty, metals down

MUMBAI: Profit booking across the board, triggered by sell-off in Chinese markets on concerns of credit tightening, saw indices close below crucial support levels.

Bombay Stock Exchange's Sensex ended at 19856.92, down 452.77 points or 2.23 per cent. It touched a high of 20380.10 and low of 19832.22 in trade so far.

National Stock Exchange's Nifty closed at 5987, down 134.60 points or 2.20 per cent. The 50-share index touched intraday high of 6144.05 and low of 5970.60.

BSE Midcap Index was down 2.19 per cent and BSE Smallcap Index fell 3 per cent.

Amongst the sectoral indices, BSE Realty Index moved 3.62 per cent lower, BSE Metal Index fell 3.13 per cent and BSE Capital Goods Index declined 2.82 per cent.

Sterlite Industries (-4.55%), Tata Motors (-4.55%), Hindalco (-4.54%), Reliance Communications (-4.05%) and Jaiprakash Associates (-3.40%) led the decline. Bharti Airtel (1.13%) was the lone gainer.

Market breadth turned negative on the BSE with 1842 declines against 1071 advances.

China's Shanghai Composite ended down 4 per cent lower as renewed talk of further policy tightening spooked sentiments.

(All figures are provisional)

 

[Pintu]

http://profit.ndtv.com/news/show/ch...oints-lower-122256?pfrom=Business?trendingnow

China slowdown fear sends Sensex 444 points lower

Varun Sinha, November 16, 2010

The markets have shut with big losses on global weakness. The Sensex fell 444 points to 19,865 and the Nifty declined 132 points to 5,988.

The benchmark indices have broken key levels with the Sensex slipping below the 20,000 mark. The Nifty has broken the key support of 6,047.

Prateek Agarwal of Bharati AXA Investment Managers attributed the fall to global factors on account of expected tightening in China. He said, "A good part of the global growth strategy is China. There is fear that consumption patterns would be hurt if China's growth slows." Agarwal, however, said that this dip could be used as an opportunity to buy. Stocks with domestic consumption story - FMCG, pharma and banking - would be better off than commodity stocks, Agarwal added.

Metal stocks plummeted after Chinese markets declined on fears of a rate hike. China's inflation topped a 2-year high prompting authorities to call for a higher rate regime to cool the economy. Any slowdown in Chinese economy has repercussions across the globe as it might lead to a slowdown in demand for commodities such as metals.

Realty and metal stocks declined more than 3 per cent. These two are high beta sectors that rise and fall more than the benchmark indices. Sterlite Industries and Hindalco fell more than 5 per cent.


All sectoral indices declined. IT, auto, capital goods and banking indices ended more than 2 per cent lower.

On the Sensex, 29 stocks closed in red. The only stock to advance was Bharti that rose 1.16 per cent. RIL and L&T contributed almost 100 points to the downside on the Sensex.

The broader markets echoed the benchmark indices. Small cap stocks fell 2.92 per cent and the CNX midcap index closed 1.67 per cent lower.

Gravita India was listed today. The stock closed with gains of 68.32 per cent at Rs. 210.40 against its issue price of Rs. 125.

Mahindra Satyam declined 11.85 per cent after its earnings failed to enthuse the Street.

SKS Microfinance touched a low and closed 11.55 per cent lower.

Asian stocks closed were lower. The Shanghai market in China closed 3.98 per cent lower. The Nikkei 225 in Japan fell 0.31 per cent lower to 9,797.

Overnight, the Wall Street rose higher but closed with minor gains (Dow closed 9 points higher at 11,201) after the dollar gained strength over concerns about the Irish economy where the government had to bail out a number of banks after the real estate collapse.

While the markets might not have closed on a high, corporate news suggested increased confidence in the economy. Two companies, Caterpillar Inc (construction machinery maker) and EMC Inc (data solutions Company) announced acquisition suggesting that companies were looking to expand.

 

[Pintu]

http://timesofindia.indiatimes.com/...ousing-finance-racket/articleshow/6992978.cms

Sensex dips 182 pts on housing finance racket
PTI, Nov 26, 2010, 05.43pm IST

MUMBAI: The 30-share Sensex on Friday slumped below the crucial 19,000-level in intra-day trading as the housing loan scam continued to hammer realty stocks, closing with a loss of about 182 points, although it regained the psychological mark.

Sensex started the day on a firm note but soon lost ground in a highly choppy trade, and finally settled at 19,136.61, shedding 181.55 points or 0.94 per cent from previous close.

Continuing its fall for the fourth consecutive session, the barometer had tumbled by 363.34 points to 18,954.82 during the trade -- the level last seen on September 13.

Crisis in Ireland and South Korea, interest rate hike in China, and a string of scams including 2G spectrum row and housing loan racket, has seen the Sensex plummet by 896 points or 4.47 per cent so far this month.

In a similar fashion, the National Stock Exchange's broad based Nifty also tanked by 47.80 points to finish at 5,751.95.

Marketmen said the continuous fall is an over-reaction to the negative news and also called it a buying opportunity for the investors.

"Sensex is on a falling spree due to the hammering in the blue chips including realty and banking shares in the wake of the ongoing investigations in the housing loan scam, which is just an over-reaction and market is bound to bounce back as the fundamentals are strong," CNI Research CMD Kishore P Ostwal said.

Realty stocks were beaten yet again with Jai Prakash Associates settling at Rs 105.75 with a loss of 8.04 per cent. The counter emerged as the worst performer among the 30 Sensex scrips. Another realty giant DLF too witnessed a plunge of 1.71 per cent to close at Rs 287.75.

Besides, continuing weakness in the heavy weights including Reliance Industries and ITC also triggered the fall in the Sensex. While the former saw a dip of 1.81 per cent, the latter slipped by 1.41 per cent on BSE.

However, the banking stocks rebound today, giving support to the market, with the country' largest lender SBI and the private sector giant ICICI Bank surging 1.16 per cent and 0.68 per cent respectively.

"Buying at lower levels gave strength to the banking blue chips," said an expert.

All the 13 sectoral indices ended the day in the negative terrain with IT and banking sectors losing marginally.

Among the IT stocks, the bellwether Infosys Technologies and the software major Wipro lost 0.76 per cent and 0.55 per cent respectively, while TCS was the best performer with a gain of 2.14 per cent.

Of the 30 Sensex components, 24 ended the day on a weak note, while rest including Cipla (1.16 per cent) and Tata Power(1.15 per cent) ended with gains.