Stock Market Discussion

[Pintu]

http://www.ptinews.com/news/334587_Stock-markets-to-conduct-Muhurat-trading-tomorrow

Stock markets to conduct Muhurat trading tomorrow

STAFF WRITER 17:58 HRS IST

Mumbai, Oct 16 (PTI) Stock and futures commodities markets will hold Muhurat trading tomorrow to mark the beginning of new Samvat 2066.

The special trading will be held between 1815 hrs and 1925 hrs after Lakshmi Puja at 1600 hrs at the Bombay Stock Exchange and the National Stock Exchange.

The Multi-Commodity Exchange and the National Commodity and Derivatives Exchange will hold the Muharat trading between 1815 hrs and 1925 hrs.

For Delhi and Mumbai bullions and oil and pepper markets it is business as usual tomorrow on Diwali day. However, other wholesale commodity markets will remain close on account of Diwali.

Stock, commodities and futures markets will remain close on Monday on account of 'Bhaiya Dhooj'.

 

[dineshchaturvedi]

http://www.defenceforum.in/forum/global-economy/4345-bse-nse-daily-index-figure-update-5.html

16th October, 2009

Bombay Stock Exchange (BSE) or SENSEX

Opening Time : 9:55 AM

Previous close : 17195.20

Day's High : 17347.85 Day's Low: 17126.55

Closing Time: 3:59:54 PM

Close: 17322.82

Gain: 127.62 , +0.74%

Nifty (National Stock Exchange)

Opening Time : 9.55 AM

Open : 10 AM

Previous Close : 5108.85

Day's High : 5149.65 Day's Low: 5093.20

Closing Time: 4 PM

Close: 5142.15

Gain: 33.30 , +0.65%

(Source: Sensex ends at 17-month closing high- Market News-Stocks-Markets-The Economic Times , National Stock Exchange of India Ltd. )

Regards

Sensex is right now at very high as compared to market situation, I am expecting a fall.

 

[Pintu]

Samvat 2065 gives 103% returns - India Business - Business - The Times of India

Samvat 2065 gives 103% returns
M Allirajan, TNN 17 October 2009, 03:19am IST

COIMBATORE: "If somebody had predicted that the sensex would yield 100% returns in Samvat 2065 last Diwali nobody would have believed," remarked the equity head of an investment firm reflecting on the stupendous growth in the capital markets in the last few months. Observers agree that nobody anticipated the markets to stage such a strong comeback in a short period given the economic conditions in the aftermath of the global meltdown.

There was gloom all around last Diwali with the global financial crisis taking the wind out of the sails of the Indian market. The Sensex, which hit a high of 21206.77 on January 10, 2008, nosedived 59.8% in nine months as panic stricken foreign investors pulled out a whopping $10.4 billion in fiscal 2009. It slumped to a 52-week low of 7697.39 points during 'Muhurat' trading last year before closing 103.5% higher on Friday.

The sensex has spurted 125% from last year's low ironically on the back of strong foreign inflows that have crossed $13 billion so far this year. "The entire rally has been driven by (global) liquidity," said a top official at the India arm of a Europe-based asset management firm.

"The liquidity is not getting out of the system as (earnings) growth has surprised on the positive side. Valuations are also not that extravagant," he said. "Markets have bounced back from its lows, on back of the rebound in economic activity and improved corporate performance," said Dinesh Thakkar, CMD, Angel Broking. While all the Sensex stocks gave positive returns in Samvat 2065 infrastructure, automobile and metal scrips have gained the most. Telecom and IT stocks were the laggards among the pack. Jaiprakash Associates notched up the highest return of 387.8% followed by Tata Motors (313%) and Sterlite Industries (280.4%).

Sun Pharmaceuticals grew the least delivering a 15% return followed by telecom majors Bharti Airtel (15.5%) and Reliance Communications (16.7%), which are facing stiff tariff competition from new entrants.

If you had put your money in Sensex stocks last Diwali 16 out of the 30 scrips would have at the least more than doubled your investments. While two scrips have more than quadrupled, prices of four stocks have more than trebled. However, more than a third of the Sensex constituents (11 stocks) have underperformed the benchmark index during the period.

 

[Pintu]

The Telegraph - Calcutta (Kolkata) | Business | Turnaround year holds out hope

Turnaround year holds out hope

OUR SPECIAL CORRESPONDENT

Mumbai, Oct. 16: The sensex ended Samvat 2065 today on a confident note, wiping off the memories of Samvat 2064 that saw the BSE bellwether getting butchered by the global financial crisis.

Market watchers were awash with optimism about Samvat 2066 amid sentiments of recovering Indian and global economies.

On October 28 last year, the first day of Samvat 2065, the sensex had closed at 9008.08; today it finished at 17322.82, which is a gain of 92 per cent in a year.

During Samvat 2064, the benchmark index had plummeted to as low as the 7,600-level from a historic high of 21000 after a series of bank collapses — starting with Lehman Brothers — took a heavy toll on stock markets across the world.

In the year gone by, select sectoral indices have performed better than the sensex. While the BSE realty index rose nearly 134 per cent, the metal index shot up 243 per cent, capital goods by nearly 110 per cent and banks, 125 per cent.

Analysts, however, are advising caution — large-cap stocks have run up significantly in recent times, and investors should be careful in taking fresh positions, which could be done only after a correction.

“The markets are looking expensive at this point of time. Though we are clearly in the midst of a bull run, the markets have moved beyond their fundamentals. Therefore, investors, particularly those who have missed the recent rally, should wait for a correction and then enter,” Ambareesh Baliga, vice-president of Karvy Stock Broking, told The Telegraph.

Reflecting the positive mood among the investing community, the sensex today opened marginally higher at 17196.80.

After initially touching a low of 17126.55, the benchmark index bounced back to finish the day at 17322.82, a net gain of 0.74 per cent over yesterday’s close.

Realty and banking counters attracted heavy buying interest, while metal and automobile stocks fell on profit booking.

From the sensex pack, DLF gained 6.30 per cent, State Bank rose 5.30 per cent, TCS, 2.84 per cent, ICICI Bank, 2.41 per cent and Reliance Industries, 2.08 per cent.

Stocks in Asia were mixed today. Indices from Japan and Taiwan closed in the green, while China, Hong Kong, Singapore and South Korea finished in the red. European markets such as France, Germany and the UK were up in early trading. US stock index futures also indicated a firm opening today.

Sustained heavy buying by foreign institutional investors (FIIs) boosted the market sentiment.

FIIs purchased shares nearly worth Rs 3,334 crore in the current week, including provisional data of October 15, while injecting over $13.38 billion in 2009 so far.

The broader 50-issue Nifty of the National Stock Exchange rebounded 33.30 points, or 0.65 per cent, to close at 5142.15 from its last close.

The index opened at 5108.65 and traded in a range of 5149.65 and 5093.20 before concluding at 5142.15, a rise of 33.30 points.

Both the BSE and NSE will open for an hour tomorrow between 1815 hrs and 1915 hrs for moorat trading.

Stock, commodities and futures markets will be closed on Monday on account of Bhai Dooj.

Among the losers, Sterlite Industries dropped 5.44 per cent, M&M, 2.28 per cent, Tata Steel, 1.44 per cent and ITC, 1.43 per cent.

Of the sectoral indices, BSE Realty flared up 152.24 points, or 3.36 per cent, and Bankex, 237.16 points, or 2.29 per cent, while BSE Auto dipped 84.24 points, or 1.26 per cent, and BSE Metal, 174.38 points, or 1.10 per cent.

Market breadth remained positive with 1,506 counters gaining ground against 1,264 ending with losses on the BSE.

The trading volume declined further to Rs 6,268.75 crore from Rs 6,538.56 crore on Thursday.

The State Bank of India remained the top traded share with a turnover of Rs 376.03 crore.

 

[Pintu]

http://www.ptinews.com/news/335829_Sensex-closes-flat-in-Muhurat-trading

Sensex closes flat in Muhurat trading

STAFF WRITER 19:48 HRS IST

Mumbai, Oct 17 (PTI) The stock market today ended moderately higher in the first trading session of the new Samvat year 2066 as investors preferred to book profits to start their new accounts with gains.

The Bombay Stock Exchange benchmark Sensex closed up by 3.19 points at 17,326.01 points after the one-hour special 'Mahurat' trading convened to mark the start of new Samvat.

The index had opened higher by over 170 points.

The wide-based National Stock Exchange index Nifty fell marginally by 0.35 points at 5,141.80 points.

Brokers said investors booked profits on the auspicious day of Diwali to mark gains in their new accounts.

They said investors made token transactions in brief trading after the Lakshmi pooja.

Shares in Teck, metal, consumer durable and IT sectors posted moderate gains helping the barometer to settle in the positive zone.

 

[Pintu]

Cautious optimism to prevail in mkt till next Diwali: Analysts - India Business - Business - The Times of India

Cautious optimism to prevail in mkt till next Diwali: Analysts
PTI 18 October 2009, 04:53pm IST

MUMBAI: As Samvat 2066 has begun, optimism is spread across the stock market with investors praying for an action replay of last year's record surge in equities but analysts are advising caution in preparing the portfolios.

After plunging to a three-year low during Diwali last year, the benchmark Sensitive index has surged 103 per cent. The total wealth of the investors in the over 4,000 listed companies soared by over Rs 30 lakh crore since last Diwali to over Rs 58 lakh crore.

"There is a positive outlook on the Indian economy as well for the stock market this year. Overall bullish sentiment will prevail in the market but corrections can come from time to time," Bonanza Portfolio Assistant Vice-President Avinash Gupta said.

Indian stock bourses ended moderately higher in the first trading session of the new Samvat year 2066 as investors preferred to book profits to start their accounts with gains. The sensitive index climbed 4.1 per cent during the week.

Reversing the trend after a fall of over 10,000 points during Samvat 2064, the Sensex recorded a gain of 8,813.26 points, or 103.57 per cent, in the Samvat 2065.

At the end of the truncated trading yesterday at 7:15 pm, the BSE Sensex closed up 3.19 points at 17,326.01.

 

[Pintu]

http://www.ptinews.com/news/336148_Investors-celebrate-Diwali-with-Rs-30-lk-cr-gain

Investors celebrate Diwali with Rs 30 lk cr gain

STAFF WRITER 10:5 HRS IST

Mumbai, Oct 18 (PTI) It has truly turned out to be a festive year for Dalal Street with investors becoming richer by nearly Rs 30 lakh crore since last Diwali, on the back of recovery in the stock market.

The total investor wealth has more than doubled to over Rs 58 lakh crore in the Samvat year 2065, the year according to the Hindu calendar, ended Friday last week, a day before Diwali.

As curtains are down to Samvat 2065, hopes of swifter economic recovery have replaced sombre mood seen last year.

Reversing the trend after a fall of over 10,000 points during Samvat 2064, the Sensex recorded a gain of 8,813.26 points, or 103.57 per cent, in the Samvat 2065.

The total investor wealth in the country's 30 blue-chip companies soared by over Rs 13 lakh crore in the Samvat Year 2065.

 

[Shredder]

Whats the current BSE and NSE Market Capitalization?

 

[Pintu]

http://www.ptinews.com/news/344462_Sensex-ends-flat-despite-early-rise--RIL-worst-hit

Sensex ends flat despite early rise, RIL worst hit

STAFF WRITER 17:45 HRS IST

Mumbai, Oct 23 (PTI) A sharp fall in index heaviest Reliance Industries dragged the markets down from its early highs, but the benchmark Sensex managed to remain in positive terrain after drubbing in straight three previous sessions.

On the back of firm global cues, the barometer surged 217.03 points in early trade, but closed marginally higher by 21.07 points at 16,810.81 after heavy selling in blue-chip RIL brought the markets down.

Brokers said a fall of four per cent in RIL, country's most valued firm, on reports of poor gas find in one of its wells, weighed against investor sentiment.

RIL fell by Rs 86.25 to Rs 2,047.30 after one of its partners, Britain's Hardy Oil and Gas, said that it is abandoning work on an exploratory well in a Krishna Godavari basin block owing to poor gas find.

 

[Pintu]

http://www.ptinews.com/news/344231_Sensex-sheds-early-gains-as-RIL-tumbles

Sensex sheds early gains as RIL tumbles

STAFF WRITER 16:15 HRS IST

Mumbai, Oct 23 (PTI) The Bombay Stock Exchange benchmark Sensex today closed flat after a sharp plunge in Reliance Industries, triggered by reports of poor gas find in one of its wells, erased early gains.

The 30-share benchmark Sensex, which gained 217.03 points in the morning, closed 21.07 points up at 16,810.81.

The wide-based National Stock Exchange index Nifty shuttled between 5,054.95 points and 4,983.25 points, before closing with a gain of 8.45 points at 4,997.05.

Sensex-heaviest Reliance Industries tumbled over four per cent, or by Rs 86.25, to Rs 2,047.30 after one of its partners, Britain's Hardy Oil and Gas, said that it is abandoning work on an exploratory well in a Krishna Godavari basin block owing to poor gas find.

In the 30-share BSE index, 18 scrips closed with gains, while 12 ended lower, led by RIL, Reliance Infra, RCom, Tata Motors and Tata Steel.

 

[Pintu]

http://www.ptinews.com/news/349884_Sensex-down-387-points-on-credit-policy-review

Sensex down 387 points on credit policy review

STAFF WRITER 17:21 HRS IST

Mumbai, Oct 27 (PTI) Markets today tumbled by over 380 points on frenzied selling triggered by the Reserve Bank's quarterly monetary policy review, which investors viewed as hawkish even though key policy rates were kept unchanged.

The Bombay Stock Exchange benchmark Sensex was bearish in opening and came under intense selling pressure after the unveiling of credit policy, which asked banks to park more money in government securities and raised inflation forecast.

Realty, metal, banking and consumer durables shares were battered and their indices closes sharply lower in the range of 3-6 per cent.

The 30-share index closed the day at 16,353.40, a steep fall of 387.10 points or 2.31 per cent from its last close.

Realty shares bore the maximum brunt of selling as RBI raised to 1 per cent requirements for banks to keep money aside while lending to commercial real estate to prevent NPAs increasing.

 

[Rage]

I include this here because it is most relevant, and significant: the SEBI is planning to extend trading hours:

YouTube - CNBC WHAT'S HOT: LONGER TRADING DAY

 

[Pintu]

Wkly Tech Analysis: Nifty may move in 4,640-4,900 band

Wkly Tech Analysis: Nifty may move in 4,640-4,900 band
Rex Cano / Mumbai November 08, 2009, 0:15 IST

In a week marked by high volatility, markets corrected sharply only to bounce back with greater strength. Last week, it was mentioned that the markets might stage a July-like recovery amid high volatility. Although, markets have bounced back sharply, chances of a full recovery look remote currently. Going forward, one needs to watch the 15,530-15,640 zone for the Sensex as crucial for the current upmove to remain intact. As and when it comes below this level, the index is likely to test its long-term support of 14,800.

The BSE benchmark index tumbled to a low of 15,331 at the start of the week. Thereafter, the index rallied to a high of 16,284 — a sharp recovery of 953 points. It finally ended the week with a gain of 262 points at 16,158.

Among the index stocks, Bharti Airtel zoomed 9.5 per cent to Rs 320, and Jaiprakash Associates soared 8.5 per cent to Rs 228. ICICI Bank, Tata Steel, Mahindra & Mahindra, Maruti and Sterlite were the other major gainers. On the other hand, Tata Power slipped over 5 per cent to Rs 1,343. ACC, Hindustan Unilever, ITC and Hero Honda were the other prominent losers.

The near-term support and resistance for the index is at 15,900 and 16,500, respectively. Positive news flow on the disinvestment and economic front is likely to act as boosters. However, the global cues will continue to have a dominant effect on markets in the short term. The NSE Nifty moved in a range of 298 points, from a low of 4,539, the index surged to a high of 4,836, before settling with a gain of 84 points at 4,796.

The Nifty is likely to find considerable support around 4,640 and resistance around 4,900. Technically, the short-term trend is still bearish as the index hovers below its short-term (20-day) and mid-term (50-day) moving averages which are currently at 4,885 and 4,928, respectively.

The Nifty’s low of 4,539 last week seems to be a perfect support on the monthly and yearly charts. Hence, the probability of the index breaking slipping this level may become slim once the index firms up above the 4,900 level. 4,525 is the crucial support for the Nifty on the monthly and yearly chart, after which the index may drop to the 3,900 level.

 

[Pintu]

http://www.ptinews.com/news/366005_Sensex--Nifty-bounce-by-2-per-cent-over-the-week

Sensex, Nifty bounce by 2 per cent over the week

STAFF WRITER 12:34 HRS IST

Mumbai, Nov 7 (PTI) Key indices Sensex and Nifty bounced by nearly 2.0 per cent over the week even as global markets are expected to influence activity at home amid possibility of FII pullout at the year-end.

Technically, increasing build up in the Nifty positions as also in the futures and options indicate that the market unlikely to continue with the upward movements.

Analysts feel that foreign institutional investors (FIIs) which made record investments so far in the current calendar year, may book profits in the next two months as it marks the end of their accounting year.

Over the week, the Bombay Stock Exchange 30-share index ended at 16,158.28, a net rise 262 points or 1.65 per cent over its last weekend's close.

Similarly, the National Stock Exchange's broader 50-share Nifty gained 84.45 points or 1.79 per cent at 4,796.15 at the weekend from the previous weekend's close.

 

[Pintu]

Range-bound Nifty ends near 5000- Market News-Stocks-Markets-The Economic Times

Range-bound Nifty ends near 5000
13 Nov 2009, 1732 hrs IST, Mohammed Sabir, ET Bureau

MUMBAI: After gyrating in a narrow range for major part of the day, Indian equity benchmarks ended on positive note Friday. The indices have run out of steam due to lack of domestic triggers and subdued global markets.

Indices opened higher in line with other Asian markets and faced tough resistance at higher levels. Disinvestment reports and oil ministry’s proposal to hike regulated gas price did little to boost sentiments.

National Stock Exchange’s Nifty ended at 4998.95, up 46.30 points or 0.89 per cent from Thursday. The broader index touched a high of 5017.90 and low of 4942.65 during the day’s trade.

Bombay Stock Exchange’s Sensex closed at 16848.83, up 152.80 points or 0.92 per cent. The index hit a high of 16909.74 and low of 16666.70 intraday.

“Nifty ended near 5000 on a weekly basis which is a positive sign. A close above 1100 for S&P 500 will lead to sharp upmove in global markets including India. We are expecting Nifty to see 5150-5200 in coming sessions,” said Dharmesh Desai, vice president, Asian Market Securities.

The BSE Midcap Index gained 0.02 per cent and BSE Smallcap Index moved up 0.20 per cent.

Amongst the sectoral indices, BSE Metal Index jumped 1.66 per cent, BSE IT Index was up 1.51 per cent and BSE Auto Index moved 1.50 per cent higher. BSE Realty Index was down 0.90 per cent.

The government is identifying PSUs for disinvestment and may possibly sell shares in as many as 60 firms, said Disinvestment Secretary Sunil Mitra. The government is likely raise over Rs 8100 crore by selling stake in NTPC.

The BSE PSU Index closed 0.59 per cent higher.

Oil&gas sector witnessed buying activity on reports that the oil ministry has proposed 31 per cent hike in regulated gas price. BSE Oil&gas Index gained 1.05 per cent on these reports.

“We are bullish on capital goods and engineering space while realty space looks weak. There are short build-ups in sector leaders like DLF and Unitech,” Desai added.

Biggest Nifty gainers were Maruti Suzuki (4.07%), SAIL (3.83%), Hero Honda (3.55%), ONGC (3.22%) and IDFC (2.79%).

Suzlon Energy (-3.75%), Jaiprakash Associates (-2.45%), Power Grid (-1.18%), IDEA (-1.08%) and GAIL (-1.01%) were the losers.

Market breadth on BSE showed 1372 advances against 1355 declines.

 

[Pintu]

Now trade in MF through stock brokers- MF News-Mutual Funds-Personal Finance-The Economic Times

Now trade in MF through stock brokers
14 Nov 2009, 0047 hrs IST, ET Bureau

MUMBAI: In a move aimed at providing mutual fund investors more options to buy or sell units of mutual fund schemes, the Securities and Exchange Board of India (Sebi) allowed mutual fund schemes to be transacted through brokers of stock exchanges.

This move is expected to reduce the transaction costs for investors compared with what they were paying before Sebi clamped down on distributor commissions.

The step is also a relief to many mutual fund investors, deprived of services from distributors, who have been selling lesser equity schemes because of lower incentives. In August, the market regulator banned mutual fund houses from charging entry load or initial fees that found its way to distributors. Sebi said, instead, distributors should collect commissions directly from investors.

The fee charged by brokers for buying or selling mutual fund units will be the same as that of shares, said leading brokers. “The fee for transacting mutual fund units is likely to be 0.25-0.50%, similar to the charge for delivery-based share transactions,” said Motilal Oswal, CMD, Motilal Oswal Financial Services.

This means, brokers could charge investors up to 0.50% buying and the same amount for selling. But there is lack of clarity on how additional costs such as securities transaction tax and stamp duty would be levied.
“However, the aggregate costs to go through a broker will be much lower than what it was to go through a distributor,” said Rashesh Shah, CMD, Edelweiss Capital. In the period before August, investors were charged 2.25% as entry load.

Mutual Fund officials said the biggest hindrance to the new system being a success is that the transaction through a stock broker can be done only by mutual fund investors with dematerialised account (form of holding shares electronically). “Investors will not be able to take advantage of this, unless they have a demat account...many mutual fund investors don’t have demat accounts,” said a top official at a private mutual fund. Also, there is lack of clarity on how will mutual fund investors be charged for their systematic investment plans (SIPs), where investments are made at fixed intervals for a specified period.

The move to enable transaction of schemes through stock brokers will likely give clarity to the 80,000-strong distributors community in India on how much should they charge clients for their services “It will give a mechanism for brokers and distributors to charge a fee to the client, which was not available earlier, where banks have an uneven advantage,” said Rajiv Deep Bajaj of New-Delhi-based Bajaj Capital.

Sebi said investors have an option of holding mutual fund units in the dematerialised form against the paper form currently.

“In case investors desire to convert their existing physical units (represented by statement of account) into dematerialised form, mutual funds/AMCs shall take such steps in coordination with registrar and transfer agents, depositories and depository participants (DPs) to facilitate the same,” the market regulator said. Sebi added the disputes between brokers and clients would be handled by stock exchanges.

 

[Pintu]

Foreign funds pull Sensex above 17,000 - India Business - Biz - The Times of India

Foreign funds pull Sensex above 17,000
PTI 16 November 2009, 04:34pm IST

MUMBAI: The stock market benchmark Sensex gained 184 points to close above the 17,000-points level as investors, foreign funds in particular, bet their money on Indian stocks amid a smart rally in other markets.

The Bombay Stock Exchange 30-share barometer settled the day at more than a three-week high of 17,032.51, netting a rise of 183.68 points or 1.09% over its last close.

Asian and European markets rallied smartly as dollar weakened against a basket of currencies.

Shanghai Composite gained 2.74%, Strait Times 2.08%, Hang Seng 1.73%, Taiwan weighted 1.66% and Kospi 1.30%. European markets were trading firm in their early trade this afternoon.

The market sentiment was also boosted by sustained capital inflow into equity. Foreign Institutional Investors bought shares worth $774.2 million so far in November, taking the total purchases to $14.8 billion in the current calendar year.

The market, however, came under pressure at the day's higher levels on concerns about rising inflation which stood at 1.34% for October.

Auto stocks attracted continued demand from investors as the sector registered robust sales growth in October.

 

[Pintu]

Sensex ends little changed; oil & gas, banks down- Market News-Stocks-Markets-The Economic Times

Sensex ends little changed; oil & gas, banks down
18 Nov 2009, 1732 hrs IST, Mohammed Sabir, ET Bureau

MUMBAI: Indices ended yet another lukewarm session little changed on Wednesday, in line with other global markets and due to lack of buying activity at current levels.

Market opened on a sluggish note and moved in a narrow range. However, selling in heavyweights like Reliance Industries, ICICI Bank and L&T led to a lower closing for the benchmarks.

“For the last the three sessions Nifty has been moving in the range of 5000-5080. If it fails to move above 5080 then we may see a downward correction. If it manages to hold 5080 then we may see bout of short of covering taking the index to 5150-5180 levels,” said a Chandan Taparia, derivative
& technical analyst, Anand Rathi.

National Stock Exchange’s Nifty closed at 5054.70, down 7.55 points or 0.15 per cent. The index touched an intra-day low of 5041.65 and high of 5079.30.

Bombay Stock Exchange’s Sensex ended below the 17000 mark, settling at 16,998.78, down 51.87 points or 0.3 per cent. The 30-share index touched a high of 17098.79 and low of 16958.41.

Unlike the frontline counters, the broader market ended with gains. The BSE Midcap Index was up 0.29 per cent and BSE Smallcap Index moved 0.8 per cent higher.

BSE Oil&Gas Index closed 0.84 per cent lower, followed by BSE Bankex down 0.78 per cent and BSE Capital Goods Index down 0.66 per cent. The BSE Metal Index rose 1.2 per cent and BSE IT Index notched up 0.7 per cent.

Reliance Infrastructure (-3.2%), Larsen & Toubro (-1.72%), ICICI Bank (-1.47%), Reliance Industries (-1.47%) and Grasim Industries (-1.17%) ended with losses.

Tata Motors (3.14%), Tata Steel (1.68%), ITC (1.61%), Infosys Technologies (1.54%) and Jaiprakash Associates (1.06%) restricted the fall.

Market breadth was positive on the BSE with 1,598 advances and 1,166 declines.

 

[Pintu]

Weekly review: Markets get over the 'D' scare

Weekly review: Markets get over the 'D' scare
BS Reporter / Mumbai November 28, 2009, 12:08 IST

The markets after a strong start to the week, danced to the 'D'-word tune in the latter half of the week as derivatives unwinding coupled with the Dubai debt scare saw the index tumble sharply.

The Sensex touched a fresh monthly high of 17,290, up 268 points from the previous close in mid-week. However, heavy selling in the last two trading days of the week saw the index tumble to a low of 16,210 - down 1,080 points from the week's high.

Break of crucial technical levels on Thursday, saw significant unwinding of long positions on the derivatives expiry day. The next day markets opened amid global sell-off after Dubai government announced that two of its biggest realty firms - Dubai World and Nakheel - need to restructure debt. Dubai World said that it had to restructure debt worth $59 billion, out of a total of $80 billion. The company was affected by global credit crunch and recession.

Banking and realty stocks took a severe beating in Friday morning trades. They, however, bounced back smartly on hopes of minimal damage from the Dubai debt blow.

The Sensex finally ended the week at 16,632, down 2.3% (390 points). The NSE Nifty moved in a range of 331 points, and settled with a loss of 111 points at 4,942.

Auto and cement stocks were the gainers, while realty, banking and IT stocks ended with significant losses.

Hero Honda surged nearly 6% to Rs 1,746. ACC, Hindustan Unilever, Grasim, Sun Pharma and Maruti were the other major gainers.

On the other hand, Jaiprakash Associates slumped 8% to Rs 215. DLF tumbled 6.5% to Rs 351, and Reliance Infrastructure shed 5.5% at Rs 1,039. ICICI Bank, Infosys, HDFC, Reliance Communications, SBI, Wipro, NTPC, Sterlite, TCS and Larsen & Toubro dropped 3-5% each.

 

[Pintu]

Govt promises to bring Dubai World out of crisis- News -Real Estate-Markets-The Economic Times

Govt promises to bring Dubai World out of crisis
27 Nov 2009, 1734 hrs IST, PTI

DUBAI: The Dubai government on Friday said it fully expected the fallout from its massive debt problem and promised to pump in all necessary resources to ensure long-term success of Dubai World.

"The government is spearheading the restructuring of this commercial operation in the full knowledge of how the markets would react," Dubai Government's Supreme Fiscal Committee Chairman Shaikh Ahmad Bin Saeed Al Maktoum said in a statement.

He said the government's intervention in Dubai World was carefully planned and "reflects its specific financial position."

"We want to ensure resources are deployed in the full knowledge that they are used to enhance the businesses of the Dubai World Group, build on the restructuring that has already been taking place and ensure long term commercial success," Gulf News quoted Shaikh Ahmad as saying.

Dubai World, an investment company that manages and supervises a portfolio of businesses and projects for the Dubai Government, yesterday said it would ask creditors for a "standstill" on paying back its USD 60 billion debt until at least May, 2010.

Markets across the world went into a tailspin after the report. The FTSE 100, suffered its worst single-day dip since March on Thursday. Shares in Asian exchanges also got affected by the tremors of Dubai debt.