Good buying interest helped market end on a strong note. IT and
banking stocks were in demand throughout the trading session.
Realty and metal stocks picked up momentum in the last hour of
trade. Banking stocks rose after inflation eased from more than
three years' high hit in late March 2008.
Initial forecast of a near-normal monsoon this year by the Indian
Meteorological Department boosted market sentiments today besides
positive global cues.
The wholesale price index rose 7.14% in the 12 months to 5 April
2008, as per latest data. This was slower than the previous week's
annual rise of 7.41%.
European markets that opened after Indian market were trading
higher. Key indices in UK, France and Germany were up 0.04% to
0.67%.
Asian markets, which opened before Indian market, were mostly in
green. Key indices in Taiwan, South Korea, Singapore, Japan, and
Hong Kong were up 0.27% to 1.92%. However, China's Shanghai
Composite was down 2.09%.
US stocks vaulted higher on Wednesday, 16 April 2008, after Intel
Corp, JPMorgan Chase & Co and other blue chips reported earnings
that reassured investors worried that a weak economy would sap
corporate profits.
The 30-share BSE Sensex rose 237.01 points or 1.46% at 16,481.20.
The Sensex gained 326.38 points at day's high of 16,570.57, hit in
the early afternoon trade.
The S&P CNX Nifty was up 71.1 points or 1.45% at 4958.40. Nifty
April 2008 futures were at 4963, at a premium of 4.6 points as
compared to spot closing of 4958.40.
Sensex has gained 1671.71 points or 11.28% from a recent low of
14,809.49 on 17 March 2008. It is off 4725.57 points or 22.28% from
a record high of 21206.77 hit on 10 January 2008.
As per provisional data, foreign institutional investors (FIIs)
bought shares worth a net Rs 597.53 crore today. Domestic funds
sold shares worth a net Rs 59.87 crore.
The market remains closed tomorrow, 18 April 2008, on account of
Mahavir Jayanti.
The BSE Mid-Cap index rose 2.05% at 6,836.55 and the BSE Small-Cap
index was up 2.16% at 8,531.36. Both these indices outperformed the
Sensex.
The market breadth was strong: on BSE, 2025 stocks gained, 703
stocks declined and 51 stocks were unchanged.
BSE clocked a turnover of Rs 6683 crore as against Rs 6,800.65 on
Wednesday, 16 April 2008. NSE's futures & options (F&O) segment
turnover was Rs 42461.28 crore, which was higher than Rs 39646.97
crore on Wednesday, 16 April 2008.
Top Sensex gainers were, HDFC Bank (up 6.95% at Rs 1396.40),
Hindalco Industries (up 5.58% at Rs 186.35), Housing Development
Finance Corporation (up 4.32% at Rs 2487.30), DLF (up 4.28% at Rs
648.60) and Tata Steel (up 3.55% at Rs 715.20).
Top Sensex losers were, Hindustan Unilever (down 3.59% at Rs
232.40), ACC (down 0.85% at Rs 799.40), Larsen & Toubro (down 0.80%
at Rs 2776.20), Reliance Energy (down 0.74% at Rs 1335.25), and
ONGC (down 0.14% at Rs 1015.95).
The BSE Bankex was outperformed the Sensex, rising 3.13% to
8,295.84. Oriental Bank of Commerce (up 6.83% at Rs 192.35), Bank
of India (up 6.42% at Rs 320.85), Centurion Bank of Punjab (up
5.63% at Rs 45.05), Axis Bank (up 4.82% at Rs 824.75), Kotak
Mahindra Bank (up 1.08% at Rs 718.50) and State Bank of India (up
1.01% at Rs 1682.85), surged.
India's largest private sector bank by assets ICICI Bank was up
2.38% at Rs 835.20.
The BSE IT index outperformed the Sensex, gaining 3.60% to
4,150.90. i-Flex Solutions (up 12.60% at Rs 1289.80), Hcl
Technologies (up 3.36% at Rs 269.25), Satyam Computer (up 3.28% at
Rs 468.95), TCS (up 2.71% at Rs 100.90) and Wipro (up 2.65% at Rs
459.20), flared up.
India's second largest software exporter by sales Infosys
Technologies gained 4.16% at Rs 1666.45. The stocks is on a rise
since Tuesday, 15 April 2008, when the company reported 1.46% rise
in consolidated net profit to Rs 1249 crore on a 6.34% growth in
revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
The stock advanced 17.15% in three session from Rs 1,422.45 on
Friday, 11 April 2008.
The BSE Oil & Gas index underperformed the Sensex, sliding 0.10% to
11,411.03. Gail India (down 1.83% at Rs 446.30), Indian Oil
Corporation (down 0.89% at Rs 452.50), Essar Oil (down 0.30% at Rs
262.55), and BPCL (down 0.10% at Rs 400.80), slipped.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries fell 0.30% at Rs 2636.95.
Orchid Chemicals & Pharmaceuticals clocked the highest turnover of
Rs 663.21 crore on BSE. NDTV (Rs 240.30 crore), Reliance Industries
(Rs 216.82 crore), Reliance Petroleum (Rs 139.25 crore) and
Reliance Natural Resources (Rs 134.24 crore), were the other
turnover toppers on BSE in that order.
Ispat Industries reported the highest volume of 2.75 crore shares
on BSE. Orchid Chemicals & Pharmaceuticals (2.19 crore shares),
Nagarjuna Fertiliser & Chemicals (2.05 crore shares), Tata
Teleservices (Maharastra) (1.81 crore shares) and Chambal
Fertilisers and Chemicals (1.32 crore shares), were the other
volume toppers on BSE in that order.
Tea stocks surged after tea prices in Kenya, one of the biggest
exporters of black tea, rose on fears that insufficient rain would
cut production. McLeod Russel (up 20% at Rs 96.95), Jay Shree Tea
(up 13.43% at Rs 133.05), Harrisons Malayalam (up 15.61% at Rs
83.80), Warren Tea (up 10% at Rs 79.75) and Tezpore Tea & Exports
(up 5% at Rs 61.65), surged.
Steel and real estate firm Shree Precoated Steels rose 5% to Rs
190.95 on reports it planned to raise Rs 1000 crore from private
equity funds.
Real estate firm Parsvnath Developers rose 2.71% at Rs 212.45 on
reports the firm sold a 30% stake in a Mumbai project to foreign
funds for Rs 186 crore.
Telecom provider Tata Teleservices (Maharastra) rose 14.58% at Rs
33.80 on reports the firm is planning to sell 15-30% stake to
private equity (PE) investors for raising over $1 billion. The
funds would be employed for the company's expansion in both CDMA
and the upcoming GSM services.
Wind turbines maker Indowind Energy rose 6.18% at Rs 85.90 after it
reported net profit of Rs 0.50 crore on sales of Rs 0.55 crore in
the quarter ended March 2008.
Software firm Nucleus Software Exports advanced 5.62% at Rs 265.05
after the company said Reem Finance, one of the leading non banking
financial institutions headquartered in Abu Dhabi has selected its
flagship product FinnOne.
Gas distributor Petronet LNG gained 3.65% to Rs 79.60 after the
company reported 51.52% increase in net profit to Rs 474.65 crore
on 19.17% rise in total income to Rs 6608.89 crore in the year
ended March 2008 over the year ended March 2007.
Mukesh Ambani-controlled Reliance Petroleum rose 1.11% at Rs 186.90
after the company said its 5.80 lakh barrel a day export-oriented
refinery at Jamnagar, Gujarat would be completed ahead of its
schedule start of December 2008.
Chennai-based BPO Dhanus Technologies gained 0.44% to Rs 240.10
after the company said it has acquired 60% stake in Hyderabad based
information technology firm, Sreeven Infocom.
Gujarat Alkalies & Chemicals, which is India's largest producer of
caustic soda by capacity, slipped 1.08% at Rs 192, off day's high
of Rs 203. The firm signed an agreement with Dow Europe GmbH, a
unit of Dow Chemical Co, to set up a joint venture company for
manufacture of two lakh tonnes per annum of chlorinated organics.
India's monsoon rains are likely to be near normal this year, the
Indian Meteorological Department (IMD) forecasted on Wednesday, 16
April 2008, promising robust harvests which could bolster growth in
the country and soothe global food worries.
Earth sciences minister Kapil Sibal said this year's forecast
should be more reliable as the IMD was using a combination of
statistical and dynamic models, unlike earlier when only
statistical models were applied.
IMD will update its prediction in June 2008 when it makes the
second-stage forecasts. Separate forecasts for July 2008 rainfall
(crucial for Kharif crop) and seasonal rainfall over the country's
four geographic regions will also come in June 2008.
Wall Street shares surged to end at their highs for the day
yesterday, 16 April 2008, as investors cheered the latest round of
earnings, which included Intel and JP Morgan. The Dow Jones
industrial average jumped 256.80 points or 2.08% to 12,619.27, the
broader S&P 500 index advanced 30.28 points or 2.27% to 1,364.71
and the Nasdaq Composite index climbed 64.07 points or 2.80% to
2,350.11.
Thursday, April 17, 2008
Markets Close in Green
The markets have closed the session on a strong note as decline in Inflation numbers boosted the markets sentiments and giving the positive signals to the government measures to control inflation. Positive global cues also fueled to the sentiments. Realty, technology, metal, banking and telecom stocks outperformed the markets. All BSE indices ended in green. Market breadth remained positive; nearly 4:1. On the global front, Asian markets closed strong.
The Sensex rose by 237.01 points or 1.46% to settle at 16481.20, and the Nifty up 71.10 points or 1.45% at 4958.40. Market breadth was positive; about 2062 shares have advanced, 776 shares declined, and 237 shares remained unchanged.
Markets have rallied for fourth consecutive days. Overall, it was a spectacular week for the markets. Week started with strong technology news as tech giant, Infosys Technologies reported good earnings, and shown that rupee appreciation and subprime crisis have not impacted its earnings. It is an positive indication for other tech companies.
Other news from IT ministry that STPI concession may be extended for small & medium IT companies also pushed midcap and small companies shares higher.
Turnover for the day reported at Rs 64280.63 crore including Rs 15118.92 crore from NSE cash segment, Rs 6700.43 from BSE cash segment and the balance Rs 42461.28 from NSE F&O segment.
The Sensex rose by 237.01 points or 1.46% to settle at 16481.20, and the Nifty up 71.10 points or 1.45% at 4958.40. Market breadth was positive; about 2062 shares have advanced, 776 shares declined, and 237 shares remained unchanged.
Markets have rallied for fourth consecutive days. Overall, it was a spectacular week for the markets. Week started with strong technology news as tech giant, Infosys Technologies reported good earnings, and shown that rupee appreciation and subprime crisis have not impacted its earnings. It is an positive indication for other tech companies.
Other news from IT ministry that STPI concession may be extended for small & medium IT companies also pushed midcap and small companies shares higher.
Turnover for the day reported at Rs 64280.63 crore including Rs 15118.92 crore from NSE cash segment, Rs 6700.43 from BSE cash segment and the balance Rs 42461.28 from NSE F&O segment.
Market pares gains in volatile trade after inflation data- Noon Report
A bout of volatility was witnessed on the bourses in afternoon trade soon after the inflation data hit the market. The market extended gains initially after the data showed the inflation was slightly lower than expectations. The market, however, shortly came off higher level. Banking stocks rallied, while IT stocks remained firm. Metal and power stocks perked up. All the sector indices on BSE were positive.
The wholesale price index rose 7.14% in the 12 months to 5 April 2008. This was slower than the previous week's annual rise of 7.41%.
Asian markets, which opened before Indian market, were mostly in green. Key indices in Taiwan, South Korea, Singapore, Japan, and Hong Kong were up 0.27% to 1.92%. However, China’s Shanghai Composite was down 1.96%.
At 12:20 IST, the 30-share BSE Sensex was up 249.33 points or 1.53% at 16,493.52. The Sensex gained 326.38 points at day’s high of 16,570.57, hit in the early afternoon trade.
The S&P CNX Nifty was up 66.4 points or 1.36% at 4953.70.
The market remains closed tomorrow, 18 April 2008, on account of Mahavir Jayanti.
The BSE Mid-Cap index was up 1.68% at 6,811.60 and the BSE Small-Cap index was up 1.75% at 8,497.
The market breadth was strong: on BSE, 1922 stocks gained, 622 stocks declined and 55 stocks were unchanged.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 1% at Rs 2671.20.
The BSE Bankex was up 3.13% at 8,295.17. Axis Bank (up 7.40% at Rs 845), Bank of India (up 5.57% at Rs 318.30), Yes Bank (up 3.87% at Rs 171.65), Canara Bank (up 3.28% at Rs 236.50), and HDFC Bank (up 3.01% at Rs 1,345), soared.
India’s largest private sector bank by assets ICICI Bank rose 3.59% at Rs 84.80.
India’s second largest software exporter by sales Infosys Technologies gained 4.97% at Rs 1677.05. The stocks is on a rise since Tuesday, 15 April 2008, when the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007. The stock advanced 12.47% to Rs 1,599.95 on Wednesday, 16 April 2008 from Rs 1,422.45 on Friday, 11 April 2008.
Top Sensex gainers were, DLF (up 3.53% at Rs 644), Wipro (up 3.08% at Rs 461.15), Satyam Computer (up 3.03% at Rs 467.80), HDFC Bank (up 3.09% at Rs 1346) and State Bank of India (up 2.39% at Rs 1703.90).
The BSE Metal index was up 2.19% at 14,444.02. Jindal Steel & Power (up 4.41% at Rs 2020), Steel Authority of India (up 4.69% at Rs 169.75), Ispat Industries (up 3.87% at Rs 30.85), Hindalco Industries (up 3.48% at Rs 175), JSW Steel (up 3.32% at Rs 799) and Tata Steel (up 2.66% at Rs 709), jumped.
Steel and real estate firm Shree Precoated Steels rose 5% to Rs 190.95 on reports it planned to raise Rs 1000 crore from private equity funds.
The BSE Power index was up 1.51% at 3,256.31. CESC (up 4.75% at Rs 447), Power Grid Corporation of India (up 4.61% at Rs 103.15), Areva T&D (up 3.21% at Rs 1,755.30), Tata Power (up 2.41% at Rs 1,295) and Reliance Power (up 2.24% at Rs 384.20), soared.
Real estate firm Parsvnath Developers rose 3.77% at Rs 214.50 on reports the firm sold a 30% stake in a Mumbai project to foreign funds for Rs 186 crore.
Telecom provider Tata Teleservices (Maharastra) rose 5.93% at Rs 31.25 on reports the firm is planning to sell 15-30% stake to private equity (PE) investors for raising over $1 billion. The funds would be employed for the company's expansion in both CDMA and the upcoming GSM services.
Wind turbines maker Indowind Energy rose 4.51% at Rs 84.50 after it reported net profit of Rs 0.50 crore on sales of Rs 0.55 crore in the quarter ended March 2008.
Among the side counters, IG Petrochemicals (up 20% at Rs 63.20), Elgitread (India) (up 20% at Rs 25.95), STL Global (up 20% at Rs 24.20), Chambal Fertilisers and Chemicals (up 9.31% at Rs 62.20), i-Flex Solutions (up 8.51% at Rs 1,242.95), Nagarjuna Fertilisers and Chemicals (up 6.03% at Rs 43.95), soared.
The wholesale price index rose 7.14% in the 12 months to 5 April 2008. This was slower than the previous week's annual rise of 7.41%.
Asian markets, which opened before Indian market, were mostly in green. Key indices in Taiwan, South Korea, Singapore, Japan, and Hong Kong were up 0.27% to 1.92%. However, China’s Shanghai Composite was down 1.96%.
At 12:20 IST, the 30-share BSE Sensex was up 249.33 points or 1.53% at 16,493.52. The Sensex gained 326.38 points at day’s high of 16,570.57, hit in the early afternoon trade.
The S&P CNX Nifty was up 66.4 points or 1.36% at 4953.70.
The market remains closed tomorrow, 18 April 2008, on account of Mahavir Jayanti.
The BSE Mid-Cap index was up 1.68% at 6,811.60 and the BSE Small-Cap index was up 1.75% at 8,497.
The market breadth was strong: on BSE, 1922 stocks gained, 622 stocks declined and 55 stocks were unchanged.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 1% at Rs 2671.20.
The BSE Bankex was up 3.13% at 8,295.17. Axis Bank (up 7.40% at Rs 845), Bank of India (up 5.57% at Rs 318.30), Yes Bank (up 3.87% at Rs 171.65), Canara Bank (up 3.28% at Rs 236.50), and HDFC Bank (up 3.01% at Rs 1,345), soared.
India’s largest private sector bank by assets ICICI Bank rose 3.59% at Rs 84.80.
India’s second largest software exporter by sales Infosys Technologies gained 4.97% at Rs 1677.05. The stocks is on a rise since Tuesday, 15 April 2008, when the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007. The stock advanced 12.47% to Rs 1,599.95 on Wednesday, 16 April 2008 from Rs 1,422.45 on Friday, 11 April 2008.
Top Sensex gainers were, DLF (up 3.53% at Rs 644), Wipro (up 3.08% at Rs 461.15), Satyam Computer (up 3.03% at Rs 467.80), HDFC Bank (up 3.09% at Rs 1346) and State Bank of India (up 2.39% at Rs 1703.90).
The BSE Metal index was up 2.19% at 14,444.02. Jindal Steel & Power (up 4.41% at Rs 2020), Steel Authority of India (up 4.69% at Rs 169.75), Ispat Industries (up 3.87% at Rs 30.85), Hindalco Industries (up 3.48% at Rs 175), JSW Steel (up 3.32% at Rs 799) and Tata Steel (up 2.66% at Rs 709), jumped.
Steel and real estate firm Shree Precoated Steels rose 5% to Rs 190.95 on reports it planned to raise Rs 1000 crore from private equity funds.
The BSE Power index was up 1.51% at 3,256.31. CESC (up 4.75% at Rs 447), Power Grid Corporation of India (up 4.61% at Rs 103.15), Areva T&D (up 3.21% at Rs 1,755.30), Tata Power (up 2.41% at Rs 1,295) and Reliance Power (up 2.24% at Rs 384.20), soared.
Real estate firm Parsvnath Developers rose 3.77% at Rs 214.50 on reports the firm sold a 30% stake in a Mumbai project to foreign funds for Rs 186 crore.
Telecom provider Tata Teleservices (Maharastra) rose 5.93% at Rs 31.25 on reports the firm is planning to sell 15-30% stake to private equity (PE) investors for raising over $1 billion. The funds would be employed for the company's expansion in both CDMA and the upcoming GSM services.
Wind turbines maker Indowind Energy rose 4.51% at Rs 84.50 after it reported net profit of Rs 0.50 crore on sales of Rs 0.55 crore in the quarter ended March 2008.
Among the side counters, IG Petrochemicals (up 20% at Rs 63.20), Elgitread (India) (up 20% at Rs 25.95), STL Global (up 20% at Rs 24.20), Chambal Fertilisers and Chemicals (up 9.31% at Rs 62.20), i-Flex Solutions (up 8.51% at Rs 1,242.95), Nagarjuna Fertilisers and Chemicals (up 6.03% at Rs 43.95), soared.
Mkt cheers on decline inflation nos
The markets have reacted cheerfully to the inflation numbers, which was at 7.14% for the week ended April 5 as against earlier 7.41% while the market estimated at 7.3%
Performance of 17th April calls and Views
See our Today's Call performance... All Rocked :) including the nifty and BSE views
We can expect a gap up opening for 50+ points in NSE and 300 points in BSE - NSE opened 75 and BSE opened 230 points up
GMR INFRASTRUCTURE LTD. Buy above 150.5 target 153/155/157 SL 149 high 154.70
WIPRO LTD . Buy above 448 target 450/454/460 SL 444 high 461.00
INFOSYSTCH buy above 1610 target 1632/1650/1668 SL 1590 high 1,690.00
REL buy above 1336 taeget 1350/1360/1372 SL 1325 high 1,395.00
RPL buy above 185 target 188/192/195/202 SL 182 high 189.80
RNRL buy above 108 target 109.5/111.25/113 SL 107 high 110.95
IDBI buy above 94.75 target 95.5/97.25/99/102 SL 94 high 97.00
RPOWER buy above 376 target 382/388/392/404 SL 371 high 390.00
We can expect a gap up opening for 50+ points in NSE and 300 points in BSE - NSE opened 75 and BSE opened 230 points up
GMR INFRASTRUCTURE LTD. Buy above 150.5 target 153/155/157 SL 149 high 154.70
WIPRO LTD . Buy above 448 target 450/454/460 SL 444 high 461.00
INFOSYSTCH buy above 1610 target 1632/1650/1668 SL 1590 high 1,690.00
REL buy above 1336 taeget 1350/1360/1372 SL 1325 high 1,395.00
RPL buy above 185 target 188/192/195/202 SL 182 high 189.80
RNRL buy above 108 target 109.5/111.25/113 SL 107 high 110.95
IDBI buy above 94.75 target 95.5/97.25/99/102 SL 94 high 97.00
RPOWER buy above 376 target 382/388/392/404 SL 371 high 390.00
Market trades high
The markets have held its early trade gains and still trading strong with the support from technology, realty, banking, metal, power and capital goods stocks. Midcap and small cap stocks are also trading positive. Market breadth is positive, 924 shares advanced while 220 shares declined on the NSE. On the global front, Asian markets have surged barring Shanghai Composite.
At 10.56 hrs IST, the Sensex was up 247 points at 16492, and the Nifty up 70 points at 4957. About 2056 shares have advanced, 747 shares declined, and 271 shares are unchanged.
Top gainers were Infosys, Satyam, DLF, Wipro, TCS, Cairn India and HDFC Bank while losers - HUL, Ranbaxy Labs, BHEL and Hero Honda.
Most active shares on the bourses were Orchid Chemicals, Infosys Technologies, Reliance Industries and NDTV.
Midcap and small cap stocks are trading very strong, indices up over 1.6% and 1.3%.
Technology stocks have been outperforming since Monday due to strong earnings from Infosys Technologies and HCL Technologies. Index was up over 4%.
BSE Realty and TEck were up over 3%, Bankex up 2.3%, Metal and Power indices rose over 1%.
At 10.56 hrs IST, the Sensex was up 247 points at 16492, and the Nifty up 70 points at 4957. About 2056 shares have advanced, 747 shares declined, and 271 shares are unchanged.
Top gainers were Infosys, Satyam, DLF, Wipro, TCS, Cairn India and HDFC Bank while losers - HUL, Ranbaxy Labs, BHEL and Hero Honda.
Most active shares on the bourses were Orchid Chemicals, Infosys Technologies, Reliance Industries and NDTV.
Midcap and small cap stocks are trading very strong, indices up over 1.6% and 1.3%.
Technology stocks have been outperforming since Monday due to strong earnings from Infosys Technologies and HCL Technologies. Index was up over 4%.
BSE Realty and TEck were up over 3%, Bankex up 2.3%, Metal and Power indices rose over 1%.
Market opens firm on strong overseas cues
The key indices opened with an upward gap tracking advances in overseas markets. IT stocks extended gains for the third straight session. All the sector indices on BSE are positive.
The market is keenly awaiting key inflation data, due to be released this afternoon, which may decide the course of the market movement in the latter part of the day. The alarming rise in inflation has been a cause of concern for the past few weeks, since it crossed the Reserve Bank of India’s caution limit of 5%.
US stocks vaulted higher on Wednesday, 16 April 2008, after Intel Corp, JPMorgan Chase & Co and other blue chips reported earnings that reassured investors worried that a weak economy would sap corporate profits.
Asian markets, which opened before Indian market, were mostly in green. Key indices in Taiwan, South Korea, Singapore, Japan, and Hong Kong were up 0.55% to 2.03%. However, China’s Shanghai Composite was down 0.12%.
At 10:20 IST, the 30-share BSE Sensex was up 187.79 points or 1.16% at 16,431.98. The Sensex gained 290.65 points at day’s high of 16,534.84, hit at the onset of the trading session.
The S&P CNX Nifty was up 53.45 points or 1.09% at 4940.75.
The market remains closed tomorrow, 18 April 2008, on account of Mahavir Jayanti.
The BSE Mid-Cap index was up 1.43% at 6,794.70 and the BSE Small-Cap index was up 1.36% at 8,464.55.
The market breadth was strong: on BSE, 1425 stocks gained, 319 stocks declined and 33 stocks were unchanged.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 1.03% at Rs 2672.
India’s largest private sector bank by assets ICICI Bank was up 1.75% at Rs 830.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 1.34% at Rs 2836.
India’s second largest software exporter by sales Infosys Technologies gained 2.64% at Rs 1642. The stocks is on a rise since Tuesday, 15 April 2008, when the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007. The stock advanced 12.47% to Rs 1,599.95 on Wednesday, 16 April 2008 from Rs 1,422.45 on Friday, 11 April 2008.
The top Sensex gainers were, Satyam Computer (up 2.54% at Rs 465.60), DLF (up 1.93% at Rs 634), HDFC Bank (up 1.65% at Rs 1327.20), TCS (up 1.63% at Rs 990), Housing Development Finance Corporation (up 1.67% at Rs 2424) and Wipro (up 1.06% at Rs 452.10).
Orchid Chemicals & Pharmaceuticals was the most active stock on BSE in terms of turnover. The Orchid stocks clocked a turnover of Rs 70.42 crore, while the stocks was up 1.55% at Rs 324.
The market is keenly awaiting key inflation data, due to be released this afternoon, which may decide the course of the market movement in the latter part of the day. The alarming rise in inflation has been a cause of concern for the past few weeks, since it crossed the Reserve Bank of India’s caution limit of 5%.
US stocks vaulted higher on Wednesday, 16 April 2008, after Intel Corp, JPMorgan Chase & Co and other blue chips reported earnings that reassured investors worried that a weak economy would sap corporate profits.
Asian markets, which opened before Indian market, were mostly in green. Key indices in Taiwan, South Korea, Singapore, Japan, and Hong Kong were up 0.55% to 2.03%. However, China’s Shanghai Composite was down 0.12%.
At 10:20 IST, the 30-share BSE Sensex was up 187.79 points or 1.16% at 16,431.98. The Sensex gained 290.65 points at day’s high of 16,534.84, hit at the onset of the trading session.
The S&P CNX Nifty was up 53.45 points or 1.09% at 4940.75.
The market remains closed tomorrow, 18 April 2008, on account of Mahavir Jayanti.
The BSE Mid-Cap index was up 1.43% at 6,794.70 and the BSE Small-Cap index was up 1.36% at 8,464.55.
The market breadth was strong: on BSE, 1425 stocks gained, 319 stocks declined and 33 stocks were unchanged.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 1.03% at Rs 2672.
India’s largest private sector bank by assets ICICI Bank was up 1.75% at Rs 830.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 1.34% at Rs 2836.
India’s second largest software exporter by sales Infosys Technologies gained 2.64% at Rs 1642. The stocks is on a rise since Tuesday, 15 April 2008, when the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007. The stock advanced 12.47% to Rs 1,599.95 on Wednesday, 16 April 2008 from Rs 1,422.45 on Friday, 11 April 2008.
The top Sensex gainers were, Satyam Computer (up 2.54% at Rs 465.60), DLF (up 1.93% at Rs 634), HDFC Bank (up 1.65% at Rs 1327.20), TCS (up 1.63% at Rs 990), Housing Development Finance Corporation (up 1.67% at Rs 2424) and Wipro (up 1.06% at Rs 452.10).
Orchid Chemicals & Pharmaceuticals was the most active stock on BSE in terms of turnover. The Orchid stocks clocked a turnover of Rs 70.42 crore, while the stocks was up 1.55% at Rs 324.
Pre Market Report 17th April 2008
Local market may open higher today, 17 April 2008, following firm global cues. Asian markets were trading higher today, 17 April 2008. US markets settled with decent gains yesterday, 16 April 2008.
Asian markets were trading higher today, 17 April 2008. Japan's Nikkei (up 2.33% at 13,452.23), Hang Seng (up 1.69% at 24,280.76), Taiwan's Taiwan Weighted (up 0.67% at 9,127.13), Singapore's Straits Times (up 1.80% at 3,143.07) and South Korea's Seoul Composite (up 1.13% at 1,778.43) edged higher.
Wall Street shares surged to end at their highs for the day yesterday, 16 April 2008, as investors cheered the latest round of earnings, which included Intel and JP Morgan. JP Morgan was the biggest gainer at 6%. Inspite of a 50% drop in profits it still beat street expectations. The Dow Jones industrial average gained 256 points to 12,619. The Nasdaq Composite advanced 64 points at 2,350. While the S&P 500 index gained 30 points to 1,364.
Back home, gains in three index heavyweights Infosys, Reliance Industries and ICICI Bank led gains in the key benchmark indices on Wednesday, 16 April 2008. The 30-share BSE Sensex rose 90.53 points or 0.56% at 16,244.19 while the S&P CNX Nifty rose 7.65 points or 0.16% at 4887.30 on that day.
Sensex has gained 1434.7 points or 9.68% from a low of 14,809.49 on 17 March 2008. It is off 4962.58 points or 23.40% from a record high of 21206.77 hit on 10 January 2008.
Asian markets were trading higher today, 17 April 2008. Japan's Nikkei (up 2.33% at 13,452.23), Hang Seng (up 1.69% at 24,280.76), Taiwan's Taiwan Weighted (up 0.67% at 9,127.13), Singapore's Straits Times (up 1.80% at 3,143.07) and South Korea's Seoul Composite (up 1.13% at 1,778.43) edged higher.
Wall Street shares surged to end at their highs for the day yesterday, 16 April 2008, as investors cheered the latest round of earnings, which included Intel and JP Morgan. JP Morgan was the biggest gainer at 6%. Inspite of a 50% drop in profits it still beat street expectations. The Dow Jones industrial average gained 256 points to 12,619. The Nasdaq Composite advanced 64 points at 2,350. While the S&P 500 index gained 30 points to 1,364.
Back home, gains in three index heavyweights Infosys, Reliance Industries and ICICI Bank led gains in the key benchmark indices on Wednesday, 16 April 2008. The 30-share BSE Sensex rose 90.53 points or 0.56% at 16,244.19 while the S&P CNX Nifty rose 7.65 points or 0.16% at 4887.30 on that day.
Sensex has gained 1434.7 points or 9.68% from a low of 14,809.49 on 17 March 2008. It is off 4962.58 points or 23.40% from a record high of 21206.77 hit on 10 January 2008.
Stock tips for 17th April
Today nifty and almost all Stocks will open high. IT stocks will rock today.
GMR INFRASTRUCTURE LTD. Buy above 150.5 target 153/155/157 SL 149
WIPRO LTD . Buy above 448 target 450/454/460 SL 444
INFOSYSTCH buy above 1610 target 1632/1650/1668 SL 1590
REL buy above 1336 taeget 1350/1360/1372 SL 1325
RPL buy above 185 target 188/192/195/202 SL 182
RNRL buy above 108 target 109.5/111.25/113 SL 107
IDBI buy above 94.75 target 95.5/97.25/99/102 SL 94
RPOWER buy above 376 target 382/388/392/404 SL 371
Keep booking profit dont keep long..
Asian markets trade high
After opening strong asian markets continue in the same levels
Nikkei 225 13,452.23 +306.10 +2.33%
Hang Seng 24,378.62 +500.27 +2.10%
Straits Times 3,146.63 +59.14 +1.92%
Nikkei 225 13,452.23 +306.10 +2.33%
Hang Seng 24,378.62 +500.27 +2.10%
Straits Times 3,146.63 +59.14 +1.92%
Asian markets open in Green
After good results of US corporates, Asian markets opened more than 1% up. We can expect a gap up opening for 50+ points in NSE and 300 points in BSE
US markets close high
After very good results from corporates, US market ended above 2% high in green
Dow 12,619.27 +256.80 +2.08%
Nasdaq 2,350.11 +64.07 +2.80%
S&P 500 1,364.71 +30.28 +2.27
Dow 12,619.27 +256.80 +2.08%
Nasdaq 2,350.11 +64.07 +2.80%
S&P 500 1,364.71 +30.28 +2.27
Indices off early highs - Noon Report 16th april
The key benchmark indices pared gains in afternoon trade even as European markets which opened after Indian market, started on a positive note. IT stocks remained firm even as capital goods stocks slipped. Small-cap and mid-cap stocks attracted investor interest for second day in a row.
Positive cues from the global markets boosted domestic bourses today. Asian markets, which opened before Indian markets, were trading higher today. Key indices in Taiwan, South Korea, Singapore, and Japan were up 0.68% to 1.58%. However, China’s Shanghai Composite and Hong Kong’s hang Seng were down by 0.21% to 1.69.
In Europe key indices in UK, France and Germany were up 0.60% to 0.69%. US stocks gained on Tuesday, 15 April 2008, as record oil prices lifted energy shares and stronger-than-expected quarterly results at several US regional banks boosted financial companies.
At 13:20 IST, the 30-share BSE Sensex was up 124.52 points or 0.77% at 16,278.18. The Sensex gained 260.14 points at day’s high of 16,413.80, hit in early trade.
The S&P CNX Nifty was up 24.9 points or 0.51% at 4904.55.
The BSE Mid-Cap index was up 1.62% at 6,711.71 and the BSE Small-Cap index was up 1.91% at 8,361.16.
The market breadth was strong: on BSE, 1938 stocks gained, 633 stocks declined and 67 stocks were unchanged.
India’s second largest software exporter by sales Infosys Technologies rose 5.64% at Rs 1596. The company, on Tuesday, 15 April 2008, reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
At the time of announcing Q4 March 2008 results, Infosys management said on Tuesday, 15 April 2008, there are significant growth opportunities for the company in the medium to long term. The company, however, may face short-term challenges due to global economic uncertainties.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 1% at Rs 2635.
The top Sensex gainers were, Satyam Computer (up 4% at Rs 470.15), Reliance Energy (up 2.96% at Rs 1339.10), Wipro (up 2.13% at Rs 433.70), Hindalco Industries (up 1.70% at Rs 176.50) and TCS (up 1.73% at Rs 992).
Top Sensex losers were, Ambuja Cements (down 2.83% at Rs 113.25), Bharat Heavy Electricals (down 2.36% at Rs 1792.50), ONGC (down 1.44% at Rs 1010), Jaiprakash Associates (down 1.28% at Rs 216) and Tata Motors (down 1.09% at Rs 618.70).
Among the mid-cap stocks, Bombay Dyeing (up 18.62% at Rs 818.55), Orchid Chemicals & Pharmaceuticals (up 13.57% at Rs 327.20), Usha Martin (up 11.52% at Rs 92), Motilal Oswal Financial Services (up 11.29% at Rs 761) and Mahindra Lifespace Developers (up 8.86% at Rs 461.40), surged.
Among the small-cap stocks, Vaibhav Gems (up 17.70% at Rs 66.50), Sarda Energy & Minerals (up 17.08% at Rs 351.30), Vimta Labs (up 14.71% at Rs 97.50), Nesco (up 13.27% at Rs 1,320.05) and Diamond Cables (up 12.94% at Rs 384), spurted.
US markets logged gains on Tuesday, 15 April 2008, following better-than-forecast earnings at regional banks and record prices for oil and gasoline. The gain was led by financial and energy shares. The Dow Jones industrial average gained 60 points to close at 12,362. The Nasdaq gained 10 points at 2,286, while the S&P 500 index rose 6 points to 1,334.
Back home, the battered stock market rebounded yesterday, 15 April 2008, triggered by IT bellwether Infosys Technologies' good future outlook. The 30-share BSE Sensex rose 346.02 points or 2.19% at 16,153.66 and the S&P CNX Nifty was up 101.85 points or 2.13% at 4879.65 on that day.
Positive cues from the global markets boosted domestic bourses today. Asian markets, which opened before Indian markets, were trading higher today. Key indices in Taiwan, South Korea, Singapore, and Japan were up 0.68% to 1.58%. However, China’s Shanghai Composite and Hong Kong’s hang Seng were down by 0.21% to 1.69.
In Europe key indices in UK, France and Germany were up 0.60% to 0.69%. US stocks gained on Tuesday, 15 April 2008, as record oil prices lifted energy shares and stronger-than-expected quarterly results at several US regional banks boosted financial companies.
At 13:20 IST, the 30-share BSE Sensex was up 124.52 points or 0.77% at 16,278.18. The Sensex gained 260.14 points at day’s high of 16,413.80, hit in early trade.
The S&P CNX Nifty was up 24.9 points or 0.51% at 4904.55.
The BSE Mid-Cap index was up 1.62% at 6,711.71 and the BSE Small-Cap index was up 1.91% at 8,361.16.
The market breadth was strong: on BSE, 1938 stocks gained, 633 stocks declined and 67 stocks were unchanged.
India’s second largest software exporter by sales Infosys Technologies rose 5.64% at Rs 1596. The company, on Tuesday, 15 April 2008, reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
At the time of announcing Q4 March 2008 results, Infosys management said on Tuesday, 15 April 2008, there are significant growth opportunities for the company in the medium to long term. The company, however, may face short-term challenges due to global economic uncertainties.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 1% at Rs 2635.
The top Sensex gainers were, Satyam Computer (up 4% at Rs 470.15), Reliance Energy (up 2.96% at Rs 1339.10), Wipro (up 2.13% at Rs 433.70), Hindalco Industries (up 1.70% at Rs 176.50) and TCS (up 1.73% at Rs 992).
Top Sensex losers were, Ambuja Cements (down 2.83% at Rs 113.25), Bharat Heavy Electricals (down 2.36% at Rs 1792.50), ONGC (down 1.44% at Rs 1010), Jaiprakash Associates (down 1.28% at Rs 216) and Tata Motors (down 1.09% at Rs 618.70).
Among the mid-cap stocks, Bombay Dyeing (up 18.62% at Rs 818.55), Orchid Chemicals & Pharmaceuticals (up 13.57% at Rs 327.20), Usha Martin (up 11.52% at Rs 92), Motilal Oswal Financial Services (up 11.29% at Rs 761) and Mahindra Lifespace Developers (up 8.86% at Rs 461.40), surged.
Among the small-cap stocks, Vaibhav Gems (up 17.70% at Rs 66.50), Sarda Energy & Minerals (up 17.08% at Rs 351.30), Vimta Labs (up 14.71% at Rs 97.50), Nesco (up 13.27% at Rs 1,320.05) and Diamond Cables (up 12.94% at Rs 384), spurted.
US markets logged gains on Tuesday, 15 April 2008, following better-than-forecast earnings at regional banks and record prices for oil and gasoline. The gain was led by financial and energy shares. The Dow Jones industrial average gained 60 points to close at 12,362. The Nasdaq gained 10 points at 2,286, while the S&P 500 index rose 6 points to 1,334.
Back home, the battered stock market rebounded yesterday, 15 April 2008, triggered by IT bellwether Infosys Technologies' good future outlook. The 30-share BSE Sensex rose 346.02 points or 2.19% at 16,153.66 and the S&P CNX Nifty was up 101.85 points or 2.13% at 4879.65 on that day.
Todays call performance
RPOWER is in a upmove looks like will hit back 400 again
3 month chart is below
Buy above 385 for a target of 390/393/397 with SL 380
There might be Some profit booking at higher levels today so be cautious
was call and see it opened at 393 went till 404. then the selling pressure pushed back to 381, now trading @386 see how perfect we told...
3 month chart is below
Buy above 385 for a target of 390/393/397 with SL 380
There might be Some profit booking at higher levels today so be cautious
was call and see it opened at 393 went till 404. then the selling pressure pushed back to 381, now trading @386 see how perfect we told...
Wall Street surges higher after upbeat earnings reports
Wall Street rallied Wednesday after better-than-expected quarterly results from JPMorgan Chase and two other Dow Jones industrials raised investors' hopes that companies and the economy are indeed recovering from the protracted global credit crisis. The Dow rose more than 250 points as investors shrugged off any concerns about oil passing $115 a barrel for the first time.
A market anxious about corporate earnings and their effect on the economy was relieved after JPMorgan Chase & Co., Coca-Cola Co. and Intel Corp. all topped first-quarter projections. The three companies are among dozens posting quarterly results Wednesday.
The battered financial sector advanced after JPMorgan beat analysts' expectations despite a 50 percent drop in quarterly profit. The nation's third-biggest bank, which is in the process of acquiring ailing Bear Stearns Cos., reported $2.6 billion of write-downs tied to its loan portfolio.
"You have a combination of JPMorgan and all these other strong earnings out there from a broad range sectors, and that's helping the buying we're seeing," said Todd Salamone, director of trading and vice president of research at Schaeffer's Investment Research. "There's an unwinding of all the negativity that we saw ahead of the earnings season."
A market anxious about corporate earnings and their effect on the economy was relieved after JPMorgan Chase & Co., Coca-Cola Co. and Intel Corp. all topped first-quarter projections. The three companies are among dozens posting quarterly results Wednesday.
The battered financial sector advanced after JPMorgan beat analysts' expectations despite a 50 percent drop in quarterly profit. The nation's third-biggest bank, which is in the process of acquiring ailing Bear Stearns Cos., reported $2.6 billion of write-downs tied to its loan portfolio.
"You have a combination of JPMorgan and all these other strong earnings out there from a broad range sectors, and that's helping the buying we're seeing," said Todd Salamone, director of trading and vice president of research at Schaeffer's Investment Research. "There's an unwinding of all the negativity that we saw ahead of the earnings season."
Wednesday, April 16, 2008
Reliance Petroleum says refinery 90 percent complete
India's Reliance Petroleum Ltd, which is building a 580,000 barrel per day (bpd) refinery, said on Wednesday it had completed 90 percent of the project by March 31.
The company said it had spent 233.19 billion rupees ($5.8 billion) on the project up to end-March, and repeated previous statements it was on course to complete the refinery ahead of its initial target of December 2008.
But it did not specify the exact date the plant would be commissioned.
Reliance Petroleum is a subsidiary of Reliance Industries Ltd, India's most-valuable listed firm, which runs a 660,000 bpd refinery next to the new project in Jamnagar in Gujarat.
The company said it had spent 233.19 billion rupees ($5.8 billion) on the project up to end-March, and repeated previous statements it was on course to complete the refinery ahead of its initial target of December 2008.
But it did not specify the exact date the plant would be commissioned.
Reliance Petroleum is a subsidiary of Reliance Industries Ltd, India's most-valuable listed firm, which runs a 660,000 bpd refinery next to the new project in Jamnagar in Gujarat.
Mkts off highs
The markets are off the highs and have given up most of its gains to trade flat. Technology stocks have continued the uptrend and outperformed the frontline indices. Market breadth is positive. Nifty has slipped into the red. Midcap have stolen the show and have outperformed the benchmark indices. Buying support is seen from technology, telecom, realty, power, oil and banking stocks. Capital goods stocks are witnessing some profit booking while, auto and FMCG stocks are trading flat.
At 14.46 hrs IST, the Sensex is up 146.59 points or 0.91% at 16300.25, and the Nifty up 23.50 points or 0.48% at 4903.15.
About 2051 shares have advanced, 737 shares declined, and 286 shares are unchanged.
Among the frontline stocks HCL Tech was up over 6% followed by Infosys up over 5%, Satyam, Reliance Energy were up over 3% each.
While Ambuja Cements, ONGC, HUL and Suzlon Energy were among the top laggards.
Midcap and small cap stocks are trading strong, both indices up over 2% each.
Orchid Chemicals, RNRL, Reliance Petroleum and Reliance Industries were most active shares.
BSE IT Index surged over 3%, TEck and Realty up more than 2%, Power, Metal, Oil & Gas up over 1%. Capital Goods index is down 1%.
At 14.46 hrs IST, the Sensex is up 146.59 points or 0.91% at 16300.25, and the Nifty up 23.50 points or 0.48% at 4903.15.
About 2051 shares have advanced, 737 shares declined, and 286 shares are unchanged.
Among the frontline stocks HCL Tech was up over 6% followed by Infosys up over 5%, Satyam, Reliance Energy were up over 3% each.
While Ambuja Cements, ONGC, HUL and Suzlon Energy were among the top laggards.
Midcap and small cap stocks are trading strong, both indices up over 2% each.
Orchid Chemicals, RNRL, Reliance Petroleum and Reliance Industries were most active shares.
BSE IT Index surged over 3%, TEck and Realty up more than 2%, Power, Metal, Oil & Gas up over 1%. Capital Goods index is down 1%.
Asian Markets Sustain thier gains
Asian Markets @ 9AM IST
Nikkei 225 13,174.62 +184.04 +1.42%
Hang Seng 24,002.37 +101.04 +0.42%
Straits Times 3,087.33 +30.84 +1.01%
Nikkei 225 13,174.62 +184.04 +1.42%
Hang Seng 24,002.37 +101.04 +0.42%
Straits Times 3,087.33 +30.84 +1.01%
Tips for 16th April 2008 - Rpower
RPOWER is in a upmove looks like will hit back 400 again
3 month chart is below
Buy above 385 for a target of 390/393/397 with SL 380
There might be Some profit booking at higher levels today so be cautious
3 month chart is below
Buy above 385 for a target of 390/393/397 with SL 380
There might be Some profit booking at higher levels today so be cautious
Pre Market Report 16th April 2008
The market may open higher today, 16 April 2008, extending yesterday's rally, which was led by IT bellwether Infosys Technologies. Asian markets were trading higher today, 16 April 2008. US markets settled with decent gains yesterday, 15 April 2008.
Power Finance Corporation, Reliance Petroleum, Mindtree Consulting and Petronet Lng among others will declare their March quarterly results today.
Asian markets were trading higher today, 16 April 2008. Japan's Nikkei (up 1.42% at 13,174.62), Hong Kong's Hang Seng (up 0.84% at 24,102.72), Taiwan's Taiwan Weighted (up 0.76% at 8,992.41), Singapore's Straits Times (up 1.32% at 3,096.97) and South Korea's Seoul Composite (up 0.90% at 1,757.80) edged higher.
US markets logged gains on Tuesday, 15 April 2008, following better-than-forecast earnings at regional banks and record prices for oil and gasoline. The gain was led by financial and energy shares. The Dow Jones industrial average gained 60 points to close at 12,362. The Nasdaq gained 10 points at 2,286, while the S&P 500 index rose 6 points to 1,334.
Back home, the battered stock market found rebounded yesterday, 15 April 2008, triggered by IT bellwether Infosys Technologies' good future outlook. The 30-share BSE Sensex rose 346.02 points or 2.19% at 16,153.66 and the S&P CNX Nifty was up 101.85 points or 2.13% at 4879.65 on that day.
Sensex has gained 1344.17 points or 9.07% from a low of 14,809.49 on 17 March 2008. It is off 5,053.11 points or 23.82% from a record high of 21206.77 hit on 10 January 2008.
As per provisional data, foreign funds sold shares worth a net Rs 56.52 crore on Tuesday, 15 April 2008. Domestic funds purchased shares worth a net Rs 13.27 crore on that day.
FIIs were net sellers of Rs 795.13 crore in the futures & options segment on Tuesday, 15 April 2008. They were net sellers of index futures to the tune of Rs 738.58 crore and bought index options worth Rs 302.18 crore. They were net sellers of stock futures to the tune of Rs 361.57 crore and bought stock options worth Rs 2.84 crore.
Power Finance Corporation, Reliance Petroleum, Mindtree Consulting and Petronet Lng among others will declare their March quarterly results today.
Asian markets were trading higher today, 16 April 2008. Japan's Nikkei (up 1.42% at 13,174.62), Hong Kong's Hang Seng (up 0.84% at 24,102.72), Taiwan's Taiwan Weighted (up 0.76% at 8,992.41), Singapore's Straits Times (up 1.32% at 3,096.97) and South Korea's Seoul Composite (up 0.90% at 1,757.80) edged higher.
US markets logged gains on Tuesday, 15 April 2008, following better-than-forecast earnings at regional banks and record prices for oil and gasoline. The gain was led by financial and energy shares. The Dow Jones industrial average gained 60 points to close at 12,362. The Nasdaq gained 10 points at 2,286, while the S&P 500 index rose 6 points to 1,334.
Back home, the battered stock market found rebounded yesterday, 15 April 2008, triggered by IT bellwether Infosys Technologies' good future outlook. The 30-share BSE Sensex rose 346.02 points or 2.19% at 16,153.66 and the S&P CNX Nifty was up 101.85 points or 2.13% at 4879.65 on that day.
Sensex has gained 1344.17 points or 9.07% from a low of 14,809.49 on 17 March 2008. It is off 5,053.11 points or 23.82% from a record high of 21206.77 hit on 10 January 2008.
As per provisional data, foreign funds sold shares worth a net Rs 56.52 crore on Tuesday, 15 April 2008. Domestic funds purchased shares worth a net Rs 13.27 crore on that day.
FIIs were net sellers of Rs 795.13 crore in the futures & options segment on Tuesday, 15 April 2008. They were net sellers of index futures to the tune of Rs 738.58 crore and bought index options worth Rs 302.18 crore. They were net sellers of stock futures to the tune of Rs 361.57 crore and bought stock options worth Rs 2.84 crore.
Asian Markets open high
Asian markets at 7:25 AM
Nikkei 225 13,177.91 +187.33 +1.44%
Hang Seng 23,901.33 0.00 0.00% - Not open
Straits Times 3,099.54 +43.05 +1.41%
Nikkei 225 13,177.91 +187.33 +1.44%
Hang Seng 23,901.33 0.00 0.00% - Not open
Straits Times 3,099.54 +43.05 +1.41%
Post Market report for 15th April 2008
The battered stock market found a solace in IT bellwether Infosys
Technologies' good future outlook. That triggered a broad-based
rally in IT stocks. Healthcare and oil & gas stocks marched ahead
as well. Ranbaxy Laboratories was the top gainer from the Sensex
pack.
The 30-share BSE Sensex rose 346.02 points or 2.19% at 16,153.66.
The index gained 441.82 points at session's high of 16,249.46, hit
in mid-afternoon trade. The Sensex slipped 234.61 points at day's
low of 15,573.03, hit in early trade.
The S&P CNX Nifty was up 101.85 points or 2.13% at 4879.65. Nifty
April 2008 futures were at 4914.90, at a premium of 35.25 points as
compared to spot closing of 4879.65.
The BSE Mid-Cap index underperformed the Sensex, gaining 1.24% at
6,604.42. The BSE Small-Cap index underperformed the Sensex,
gaining 1.52% at 8,204.39.
The market breadth was strong: on BSE, 1784 stocks gained, 875
stocks declined and 50 stocks were unchanged.
BSE clocked a turnover of Rs 5827 crore as against the turover of
Rs 5,586.86 crore on Friday, 11 April 2008.
The NSE's futures & options (F&O) segment turnover was Rs 46369.75
crore, which was higher than Rs 41003.92 crore on Friday, 11 April
2008.
India's second largest software exporter by sales Infosys
Technologies rose 6.21% at Rs 1510.75. At the time of announcing Q4
March 2008 results, Infosys management today said there are
significant growth opportunities for the company in the medium to
long term. The company, however, may face short-term challenges due
to global economic uncertainties. Another major booster for the
counter was the company's announcement that it has decided to
increase the dividend payout ratio to up to 30% of net profits from
the current year from 20% thus far
Infosys has given guidance of a between 16.3% to 18.3% growth in
earnings per share (EPS) to between Rs 92.32 to Rs 93.92 for the
year ending March 2009 over the year ending March 2008. It has
given guidance of a between 19.2% to 21.1% growth in revenue to
between Rs 19894 crore to Rs 20214 crore for the year ending March
2009 over the year ending March 2008
As per US GAAP, Infosys has given guidance of a 16.7% to 18.7%
growth in earnings per American Depository Shares at between $2.31
to $2.35 for the year ending March 2009 over the year ending March
2008. It has given guidance of a between 19% to 21% growth in
revenue as per US GAAP to between $4.97 billion to $5.05 billion
for the year ending March 2009 over the year ending March 2008
Infosys reported 1.46% rise in consolidated net profit to Rs 1249
crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March
2008 over Q3 December 2007.
Infosys' strong outlook comes at a time when there has been a gloom
surrounding India Inc's earnings due to mark-to-market losses on
forex derivatives, rise in input costs and due to concerns about
delays in project execution for the capital goods sector.
A steep decline in the value of the US dollar against the Japanese
Yen and the Swiss Franc hit Indian corporates which have used these
two currencies (Yen and Franc) extensively to swap their rupee
denominated debt. As per estimates by a domestic brokerage, the
mark-to-market losses of corporate India under forex derivatives
could be around $4 billion.
The BSE IT index outperformed the Sensex, gaining 5.55% to
3,862.48. TCS (up 7.37% at Rs 975.10), Mphasis (up 7.10% at Rs
226.95), HCL Technologies (up 6.78% at Rs 245.80), Wipro (up 4.52%
at Rs 424.65), and Satyam Computer (up 4.35% at Rs 452.05), soared.
The BSE Healthcare index outperformed the Sensex, gaining 3.32% to
4,049.35. Orchid Chemicals & Pharmaceuticals (up 16.50% at Rs
288.10), Glenmark Pharmaceuticals (up 5.97% at Rs 533.80),
Wockhardt (up 5.38% at Rs 299.90), Bilcare (up 4.81% at Rs 950.35)
and Dr Reddy's Pharmaceuticals (up 4.22% at Rs 615.95), moved up.
India's largest drug maker by sales Ranbaxy Laboratories surged
8.62% to Rs 481.80 after the company said Anglo-Swedish drugmaker
AstraZeneca had settled US patent litigation against the company
over its top-selling drug, ulcer pill Nexium.
The BSE Oil & Gas index outperformed the Sensex, gaining 2.77% to
11,333.93. Essar Oil (up 8.65% at Rs 261.95), Reliance Natural
Resources (up 6.61% at Rs 105.70), Reliance Petroleum (up 4.31% at
Rs 189.80), BPCL (up 3.84% at Rs 408.50) and ONGC (up 2.45% at Rs
1,024.80), soared.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries rose 2.30% at Rs 2608.80.
The BSE Bankex underperformed the Sensex, gaining 1.28% to
8,002.40. Kotak Mahindra Bank (up 5.97% at Rs 677), Union Bank (up
2.85% at Rs 155), Punjab National Bank (up 2.27% at Rs 519.45),
Axis Bank (up 1.73% at Rs 774.90) and State Bank of India (up 0.55%
at Rs 1,677.05), flared up.
India's largest private sector bank by assets ICICI Bank rose 2.34%
at Rs 806.90.
New age lender Yes Bank rose 3.39% at Rs 166.25 on reports the bank
plans to raise $300 million (about Rs 1,200 crore) by December for
its expansion plans.
Brokerage firm Motilal Oswal Financial Services soared 4% at Rs
683.80 after the firm said its board will meet on 21 April 2008 to
consider the subdivision (split) of the equity shares of the
company.
Automobile tyres maker JK Tyre & Industries spurted 4.34% at Rs
121.40 after the firm on Friday, 11 April 2008 announced the
acquisition of a $200 million Mexican tyre-producing company Tornel
for Rs 270 crore.
Anil Dhirubhai Ambani-controlled Reliance Power moved up 6.37% at
Rs 384.35 after the Reserve Bank of India (RBI) reportedly approved
a proposal by the company to raise $2 billion (about Rs 8,000
crore) for its Sasan ultra mega power project.
Bhagyanagar India, which makes non-ferrous metal products, surged
16.71% to Rs 45.75 after the company said it has scheduled a board
meet on 22 April 2008 to consider buy back of equity shares.
Cement maker Grasim Industries rose 0.11% to Rs 2553.45 after the
company said it has increased its stake from 25% to 45% in AV Cell
Inc, a joint venture company in Canada for a total consideration of
around Canadian dollar 6 million.
Orchid Chemicals & Pharmaceuticals clocked the highest turnover of
Rs 453.41 crore on BSE. Reliance Industries (Rs 373.44 crore),
Reliance Petroleum (Rs 299.24 crore), Reliance Natural Resources
(Rs 233.98 crore) and Reliance Capital (Rs 196.31 crore), these
were the turnover toppers on BSE in that order.
Reliance Natural Resources reported the highest volume of 2.27
crore shares on BSE. Orchid Chemicals & Pharmaceuticals (1.65 crore
shares), Reliance Petroleum (1.59 crore shares), Sita Shree Food
Products (1.42 crore shares) and Kaashyap Technologies (1.33 crore
shares), these were the volume toppers on BSE in that order.
Asian markets, which were mixed earlier, were mostly in green. Key
indices in China, Hong Kong, Japan, Singapore, and Taiwan were up
by between 0.36% to 1.57%. However, South Korea's Seoul Composite
index was down 0.26%. European markets, which opened higher,
however, slipped into red after positive start. Key indices in
Germany and France were down 0.04% to 0.12%. However, UK's FTSE 100
was up 0.86%.
US markets slipped yesterday, 14 April 2008, after Wachovia
declared an unexpected first quarter loss. On the other hand, a US
government report declared better-than-expected growth in retail
sales. The Dow Jones industrial average slipped 23.36 points, or
0.19%, to 12,302.06. The S&P 500 index was down 4.51 points, or
0.34%, to 1,328.32, and the Nasdaq Composite index dropped 14.42
points, or 0.63%, to 2,275.82. US markets had suffered sharp losses
on Friday, 11 April 2008.
Besides concerns about corporate earnings, moderation in economic
growth, prospects of further rise in interest rates and fears of
funding crunch for some corporates amid credit crisis in the United
States, spooked the Indian market in the past three months. Fears
of redemption pressure for mutual funds following steep market fall
looms large on the bourses.
Sensex has gained 1344.17 points or 9.07% from a low of 14,809.49
on 17 March 2008. It is off 5,053.11 points or 23.82% from a record
high of 21206.77 hit on 10 January 2008.
Technologies' good future outlook. That triggered a broad-based
rally in IT stocks. Healthcare and oil & gas stocks marched ahead
as well. Ranbaxy Laboratories was the top gainer from the Sensex
pack.
The 30-share BSE Sensex rose 346.02 points or 2.19% at 16,153.66.
The index gained 441.82 points at session's high of 16,249.46, hit
in mid-afternoon trade. The Sensex slipped 234.61 points at day's
low of 15,573.03, hit in early trade.
The S&P CNX Nifty was up 101.85 points or 2.13% at 4879.65. Nifty
April 2008 futures were at 4914.90, at a premium of 35.25 points as
compared to spot closing of 4879.65.
The BSE Mid-Cap index underperformed the Sensex, gaining 1.24% at
6,604.42. The BSE Small-Cap index underperformed the Sensex,
gaining 1.52% at 8,204.39.
The market breadth was strong: on BSE, 1784 stocks gained, 875
stocks declined and 50 stocks were unchanged.
BSE clocked a turnover of Rs 5827 crore as against the turover of
Rs 5,586.86 crore on Friday, 11 April 2008.
The NSE's futures & options (F&O) segment turnover was Rs 46369.75
crore, which was higher than Rs 41003.92 crore on Friday, 11 April
2008.
India's second largest software exporter by sales Infosys
Technologies rose 6.21% at Rs 1510.75. At the time of announcing Q4
March 2008 results, Infosys management today said there are
significant growth opportunities for the company in the medium to
long term. The company, however, may face short-term challenges due
to global economic uncertainties. Another major booster for the
counter was the company's announcement that it has decided to
increase the dividend payout ratio to up to 30% of net profits from
the current year from 20% thus far
Infosys has given guidance of a between 16.3% to 18.3% growth in
earnings per share (EPS) to between Rs 92.32 to Rs 93.92 for the
year ending March 2009 over the year ending March 2008. It has
given guidance of a between 19.2% to 21.1% growth in revenue to
between Rs 19894 crore to Rs 20214 crore for the year ending March
2009 over the year ending March 2008
As per US GAAP, Infosys has given guidance of a 16.7% to 18.7%
growth in earnings per American Depository Shares at between $2.31
to $2.35 for the year ending March 2009 over the year ending March
2008. It has given guidance of a between 19% to 21% growth in
revenue as per US GAAP to between $4.97 billion to $5.05 billion
for the year ending March 2009 over the year ending March 2008
Infosys reported 1.46% rise in consolidated net profit to Rs 1249
crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March
2008 over Q3 December 2007.
Infosys' strong outlook comes at a time when there has been a gloom
surrounding India Inc's earnings due to mark-to-market losses on
forex derivatives, rise in input costs and due to concerns about
delays in project execution for the capital goods sector.
A steep decline in the value of the US dollar against the Japanese
Yen and the Swiss Franc hit Indian corporates which have used these
two currencies (Yen and Franc) extensively to swap their rupee
denominated debt. As per estimates by a domestic brokerage, the
mark-to-market losses of corporate India under forex derivatives
could be around $4 billion.
The BSE IT index outperformed the Sensex, gaining 5.55% to
3,862.48. TCS (up 7.37% at Rs 975.10), Mphasis (up 7.10% at Rs
226.95), HCL Technologies (up 6.78% at Rs 245.80), Wipro (up 4.52%
at Rs 424.65), and Satyam Computer (up 4.35% at Rs 452.05), soared.
The BSE Healthcare index outperformed the Sensex, gaining 3.32% to
4,049.35. Orchid Chemicals & Pharmaceuticals (up 16.50% at Rs
288.10), Glenmark Pharmaceuticals (up 5.97% at Rs 533.80),
Wockhardt (up 5.38% at Rs 299.90), Bilcare (up 4.81% at Rs 950.35)
and Dr Reddy's Pharmaceuticals (up 4.22% at Rs 615.95), moved up.
India's largest drug maker by sales Ranbaxy Laboratories surged
8.62% to Rs 481.80 after the company said Anglo-Swedish drugmaker
AstraZeneca had settled US patent litigation against the company
over its top-selling drug, ulcer pill Nexium.
The BSE Oil & Gas index outperformed the Sensex, gaining 2.77% to
11,333.93. Essar Oil (up 8.65% at Rs 261.95), Reliance Natural
Resources (up 6.61% at Rs 105.70), Reliance Petroleum (up 4.31% at
Rs 189.80), BPCL (up 3.84% at Rs 408.50) and ONGC (up 2.45% at Rs
1,024.80), soared.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries rose 2.30% at Rs 2608.80.
The BSE Bankex underperformed the Sensex, gaining 1.28% to
8,002.40. Kotak Mahindra Bank (up 5.97% at Rs 677), Union Bank (up
2.85% at Rs 155), Punjab National Bank (up 2.27% at Rs 519.45),
Axis Bank (up 1.73% at Rs 774.90) and State Bank of India (up 0.55%
at Rs 1,677.05), flared up.
India's largest private sector bank by assets ICICI Bank rose 2.34%
at Rs 806.90.
New age lender Yes Bank rose 3.39% at Rs 166.25 on reports the bank
plans to raise $300 million (about Rs 1,200 crore) by December for
its expansion plans.
Brokerage firm Motilal Oswal Financial Services soared 4% at Rs
683.80 after the firm said its board will meet on 21 April 2008 to
consider the subdivision (split) of the equity shares of the
company.
Automobile tyres maker JK Tyre & Industries spurted 4.34% at Rs
121.40 after the firm on Friday, 11 April 2008 announced the
acquisition of a $200 million Mexican tyre-producing company Tornel
for Rs 270 crore.
Anil Dhirubhai Ambani-controlled Reliance Power moved up 6.37% at
Rs 384.35 after the Reserve Bank of India (RBI) reportedly approved
a proposal by the company to raise $2 billion (about Rs 8,000
crore) for its Sasan ultra mega power project.
Bhagyanagar India, which makes non-ferrous metal products, surged
16.71% to Rs 45.75 after the company said it has scheduled a board
meet on 22 April 2008 to consider buy back of equity shares.
Cement maker Grasim Industries rose 0.11% to Rs 2553.45 after the
company said it has increased its stake from 25% to 45% in AV Cell
Inc, a joint venture company in Canada for a total consideration of
around Canadian dollar 6 million.
Orchid Chemicals & Pharmaceuticals clocked the highest turnover of
Rs 453.41 crore on BSE. Reliance Industries (Rs 373.44 crore),
Reliance Petroleum (Rs 299.24 crore), Reliance Natural Resources
(Rs 233.98 crore) and Reliance Capital (Rs 196.31 crore), these
were the turnover toppers on BSE in that order.
Reliance Natural Resources reported the highest volume of 2.27
crore shares on BSE. Orchid Chemicals & Pharmaceuticals (1.65 crore
shares), Reliance Petroleum (1.59 crore shares), Sita Shree Food
Products (1.42 crore shares) and Kaashyap Technologies (1.33 crore
shares), these were the volume toppers on BSE in that order.
Asian markets, which were mixed earlier, were mostly in green. Key
indices in China, Hong Kong, Japan, Singapore, and Taiwan were up
by between 0.36% to 1.57%. However, South Korea's Seoul Composite
index was down 0.26%. European markets, which opened higher,
however, slipped into red after positive start. Key indices in
Germany and France were down 0.04% to 0.12%. However, UK's FTSE 100
was up 0.86%.
US markets slipped yesterday, 14 April 2008, after Wachovia
declared an unexpected first quarter loss. On the other hand, a US
government report declared better-than-expected growth in retail
sales. The Dow Jones industrial average slipped 23.36 points, or
0.19%, to 12,302.06. The S&P 500 index was down 4.51 points, or
0.34%, to 1,328.32, and the Nasdaq Composite index dropped 14.42
points, or 0.63%, to 2,275.82. US markets had suffered sharp losses
on Friday, 11 April 2008.
Besides concerns about corporate earnings, moderation in economic
growth, prospects of further rise in interest rates and fears of
funding crunch for some corporates amid credit crisis in the United
States, spooked the Indian market in the past three months. Fears
of redemption pressure for mutual funds following steep market fall
looms large on the bourses.
Sensex has gained 1344.17 points or 9.07% from a low of 14,809.49
on 17 March 2008. It is off 5,053.11 points or 23.82% from a record
high of 21206.77 hit on 10 January 2008.
US Market ends flat +ve
Us markets ended in green but flat after volatile movements
Dow 12,362.47 +60.41 +0.49%
Nasdaq 2,286.04 +10.22 +0.45%
S&P 500 1,334.43 +6.11 +0.46%
Dow 12,362.47 +60.41 +0.49%
Nasdaq 2,286.04 +10.22 +0.45%
S&P 500 1,334.43 +6.11 +0.46%
Market close near day's high
The markets closed near day's high after a sluggish start. Technolgy stocks bucked the treand with IT major coming positive set of numbers inline with street expectations. IT index gained a whopping 6% with Infosys, TCS, Wipro, HCL Tech among the top gainers on the bourses. The broader markets also closed higher with breadth is in the favour of advances. Oil, pharma, realty and power sectors also ended higher.
Sensex closed up 346.02 points or 2.19% at 16153.66, and the Nifty up 101.85 points or 2.13% at 4879.65.
About 1857 shares have advanced, 937 shares declined, and 280 shares are unchanged.
The BSE Midcap Index ended at 6,604.42 up 1.2%.
The BSE Smallcap Index ended at 8,204.39 up 1.5%.
The BSE Bankex closed at 8,002.40 up 1.3%. IOB, ICICI Bank, Centurion bank, Axis closed in green.
The BSE Capital Goods Index closed at 13,421.59 up 1%. Suzlon, Reliance Infra, Siemens, Triveni Engineering closed higher.
The BSE Auto Index closed at 4,464.93 up 1%. Apollo Tyres, Escorts, Ashok Leyland, Hind Motors closed higher.
The BSE Metal Index closed at 14,017.64 up 0.3%. SAIL, JSW Steel, Jindal Steel, Jindal Stainless, Hind Zinc closed higher.
The BSE FMCG Index closed up 2% at 2,362.71. Colgate, ITC, Nestle, Marico, HUL, Dabur ended higher.
BSE Oil and Gas Index closed at 11,333.93 up 2.8%. BPCL, HPCL, IOC, Reliance Natura, GAIL ended higher.
The BSE IT Index was at 3,862.48 up 5.5%. HCL, Infosys, Tech mahindra, TCS, Wipro, Tech Mahindra closed higher.
The NSE cash turnover was at Rs 14066.78 crore and the NSE F&O turnover was at Rs 46369.75 crore. The BSE cash turnover was Rs 5846.51 crore. Total market wide turnover was at Rs 66283.04 crore.
Sensex closed up 346.02 points or 2.19% at 16153.66, and the Nifty up 101.85 points or 2.13% at 4879.65.
About 1857 shares have advanced, 937 shares declined, and 280 shares are unchanged.
The BSE Midcap Index ended at 6,604.42 up 1.2%.
The BSE Smallcap Index ended at 8,204.39 up 1.5%.
The BSE Bankex closed at 8,002.40 up 1.3%. IOB, ICICI Bank, Centurion bank, Axis closed in green.
The BSE Capital Goods Index closed at 13,421.59 up 1%. Suzlon, Reliance Infra, Siemens, Triveni Engineering closed higher.
The BSE Auto Index closed at 4,464.93 up 1%. Apollo Tyres, Escorts, Ashok Leyland, Hind Motors closed higher.
The BSE Metal Index closed at 14,017.64 up 0.3%. SAIL, JSW Steel, Jindal Steel, Jindal Stainless, Hind Zinc closed higher.
The BSE FMCG Index closed up 2% at 2,362.71. Colgate, ITC, Nestle, Marico, HUL, Dabur ended higher.
BSE Oil and Gas Index closed at 11,333.93 up 2.8%. BPCL, HPCL, IOC, Reliance Natura, GAIL ended higher.
The BSE IT Index was at 3,862.48 up 5.5%. HCL, Infosys, Tech mahindra, TCS, Wipro, Tech Mahindra closed higher.
The NSE cash turnover was at Rs 14066.78 crore and the NSE F&O turnover was at Rs 46369.75 crore. The BSE cash turnover was Rs 5846.51 crore. Total market wide turnover was at Rs 66283.04 crore.
Market pares gains in late trade
The market, after trading in a narrow range through the day, eased from early highs and ended with decent gain. It was a rewarding session for IT stocks for second consecutive day after IT bellwether Infosys on Tuesday, 15 April 2008, gave a confident medium-term outlook. Small- and mid-cap stocks extended gains from the previous session.
Positive cues from the global markets boosted domestic bourses today. Asian markets, which opened before Indian markets, were trading higher today. Key indices in Taiwan, South Korea, Singapore, and Japan were up 0.94% to 1.58%. However, China’s Shanghai Composite and Hong Kong’s Hang Seng were down by 0.10% to 1.69%.
In Europe key indices in UK, France and Germany were up 0.34% to 0.87%. US stocks gained on Tuesday, 15 April 2008, as record oil prices lifted energy shares and stronger-than-expected quarterly results at several US regional banks boosted financial companies.
As per provisional closing, the 30-share BSE Sensex rose 87.71 points or 0.54% at 16,241.37. The Sensex gained 260.14 points at day’s high of 16,413.80, hit in early trade.
The S&P CNX Nifty was up 9.15 points or 0.19% at 4888.80.
The BSE Mid-Cap index was up 1.47% at 6,701.77 and the BSE Small-Cap index was up 1.81% at 8,352.51.
The market breadth was strong: on BSE, 1867 stocks gained, 807 stocks declined and 76 stocks were unchanged.
BSE clocked a turnover of Rs 6767 crore as against Rs 5,861.39 on Tuesday, 15 April 2008.
India’s second largest software exporter by sales Infosys Technologies rose 5.57% at Rs 1596.50. The company, on Tuesday, 15 April 2008, reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
At the time of announcing Q4 March 2008 results, Infosys management said on Tuesday, 15 April 2008, there are significant growth opportunities for the company in the medium to long term. The company, however, may face short-term challenges due to global economic uncertainties.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 1.17% at Rs 2638.
India’s largest private sector bank by assets ICICI Bank gained 1.08% at Rs 815.20.
The top Sensex gainers were, Wipro (up 4.98% at Rs 445.80), Reliance Energy (up 2.99% at Rs 1339.50), Hindalco Industries (up 1.93% at Rs 176.50), Reliance Communication (up 1.39% at Rs 527) and ITC (up 1.11% at Rs 210.25).
Top Sensex losers were, Ambuja Cements (down 3.52% at Rs 112.45), Bharat Heavy Electricals (down 3.11% at Rs 1780.20), Jaiprakash Associates (down 2.08% at Rs 214.25), NTPC (down 2.06% at Rs 187.50) and Hindustan Unilever (down 1.79% at Rs 241).
Drug maker Nicholas Piramal India advanced 2.45% to Rs 328.10 after the company signed an agreement with Khandelwal Laboratories for the purchase of its anti-spasmodic Anafortan and antibiotic CEFI brands for a total consideration of Rs 116 crore.
Construction firm Maytas Infra fell 1.52% to Rs 644.10, off day's high of Rs 680. The company said on Tuesday 15 April 2008 it has bagged an order worth Rs 68 crore from AP Road Development Corporation, Andhra Pradesh for building a bridge.
Agro chemicals maker Rallis India galloped 3.99% to Rs 425 after the company reported 115.40% surge in net profit to Rs 125.19 crore on 7.60% rise in net sales to Rs 692.15 crore in the year ended March 2008 (FY 2008) over the year ended March 2007 (FY 2007).
Mukesh Ambani-controlled Reliance Industrial Infrastructure was locked at upper limit of 5% at Rs 999.85 after posting 52.4% rise in net profit to Rs 6.43 crore on 38.6% rise in sales to Rs 18.92 crore in Q4 March 2008 over Q4 March 2007.
US markets logged gains on Tuesday, 15 April 2008, following better-than-forecast earnings at regional banks and record prices for oil and gasoline. The gain was led by financial and energy shares. The Dow Jones industrial average gained 60 points to close at 12,362. The Nasdaq gained 10 points at 2,286, while the S&P 500 index rose 6 points to 1,334.
Positive cues from the global markets boosted domestic bourses today. Asian markets, which opened before Indian markets, were trading higher today. Key indices in Taiwan, South Korea, Singapore, and Japan were up 0.94% to 1.58%. However, China’s Shanghai Composite and Hong Kong’s Hang Seng were down by 0.10% to 1.69%.
In Europe key indices in UK, France and Germany were up 0.34% to 0.87%. US stocks gained on Tuesday, 15 April 2008, as record oil prices lifted energy shares and stronger-than-expected quarterly results at several US regional banks boosted financial companies.
As per provisional closing, the 30-share BSE Sensex rose 87.71 points or 0.54% at 16,241.37. The Sensex gained 260.14 points at day’s high of 16,413.80, hit in early trade.
The S&P CNX Nifty was up 9.15 points or 0.19% at 4888.80.
The BSE Mid-Cap index was up 1.47% at 6,701.77 and the BSE Small-Cap index was up 1.81% at 8,352.51.
The market breadth was strong: on BSE, 1867 stocks gained, 807 stocks declined and 76 stocks were unchanged.
BSE clocked a turnover of Rs 6767 crore as against Rs 5,861.39 on Tuesday, 15 April 2008.
India’s second largest software exporter by sales Infosys Technologies rose 5.57% at Rs 1596.50. The company, on Tuesday, 15 April 2008, reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
At the time of announcing Q4 March 2008 results, Infosys management said on Tuesday, 15 April 2008, there are significant growth opportunities for the company in the medium to long term. The company, however, may face short-term challenges due to global economic uncertainties.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 1.17% at Rs 2638.
India’s largest private sector bank by assets ICICI Bank gained 1.08% at Rs 815.20.
The top Sensex gainers were, Wipro (up 4.98% at Rs 445.80), Reliance Energy (up 2.99% at Rs 1339.50), Hindalco Industries (up 1.93% at Rs 176.50), Reliance Communication (up 1.39% at Rs 527) and ITC (up 1.11% at Rs 210.25).
Top Sensex losers were, Ambuja Cements (down 3.52% at Rs 112.45), Bharat Heavy Electricals (down 3.11% at Rs 1780.20), Jaiprakash Associates (down 2.08% at Rs 214.25), NTPC (down 2.06% at Rs 187.50) and Hindustan Unilever (down 1.79% at Rs 241).
Drug maker Nicholas Piramal India advanced 2.45% to Rs 328.10 after the company signed an agreement with Khandelwal Laboratories for the purchase of its anti-spasmodic Anafortan and antibiotic CEFI brands for a total consideration of Rs 116 crore.
Construction firm Maytas Infra fell 1.52% to Rs 644.10, off day's high of Rs 680. The company said on Tuesday 15 April 2008 it has bagged an order worth Rs 68 crore from AP Road Development Corporation, Andhra Pradesh for building a bridge.
Agro chemicals maker Rallis India galloped 3.99% to Rs 425 after the company reported 115.40% surge in net profit to Rs 125.19 crore on 7.60% rise in net sales to Rs 692.15 crore in the year ended March 2008 (FY 2008) over the year ended March 2007 (FY 2007).
Mukesh Ambani-controlled Reliance Industrial Infrastructure was locked at upper limit of 5% at Rs 999.85 after posting 52.4% rise in net profit to Rs 6.43 crore on 38.6% rise in sales to Rs 18.92 crore in Q4 March 2008 over Q4 March 2007.
US markets logged gains on Tuesday, 15 April 2008, following better-than-forecast earnings at regional banks and record prices for oil and gasoline. The gain was led by financial and energy shares. The Dow Jones industrial average gained 60 points to close at 12,362. The Nasdaq gained 10 points at 2,286, while the S&P 500 index rose 6 points to 1,334.
The market surged
The market surged in the afternoon trade led by solid rally in IT stocks after IT bellwether Infosys gave a confident medium-term outlook and said it has decided to increase the dividend payout ratio to up to 30% of net profits from the current year from 20% thus far. All the sectoral indices on BSE moved into the positive territory. Ranbaxy laboratories edged higher.
Positive opening in European markets and sharp recovery in Asian indices also aided the rally.
European markets, which opened after Indian markets, were in green. Key indices in UK, France and Germany were up between 0.34% to 0.93%. Asian markets, which were mixed earlier, were mostly in green. Key indices in China, Hong Kong, Japan, Singapore, and Taiwan were up by between 0.36% to 1.57. However, South Korea’s Seoul Composite index was down 0.26%.
At 13:20 IST, the 30-share BSE Sensex was up 342.25 points or 2.17% at 16,149.89. The index gained 350.02 points at session’s high of 16,157.66, hit in afternoon trade. The Sensex slipped 234.61 points at day’s low of 15,573.03, hit in early trade.
The S&P CNX Nifty was up 112 points or 2.34% at 4889.80.
The BSE Mid-Cap index was up 1.12% at 6,596.03 and the BSE Small-Cap index was up 1.13% at 8,172.82.
The market breadth was strong: on BSE, 1609 stocks gained, 868 stocks declined and 69 stocks were unchanged.
Positive opening in European markets and sharp recovery in Asian indices also aided the rally.
European markets, which opened after Indian markets, were in green. Key indices in UK, France and Germany were up between 0.34% to 0.93%. Asian markets, which were mixed earlier, were mostly in green. Key indices in China, Hong Kong, Japan, Singapore, and Taiwan were up by between 0.36% to 1.57. However, South Korea’s Seoul Composite index was down 0.26%.
At 13:20 IST, the 30-share BSE Sensex was up 342.25 points or 2.17% at 16,149.89. The index gained 350.02 points at session’s high of 16,157.66, hit in afternoon trade. The Sensex slipped 234.61 points at day’s low of 15,573.03, hit in early trade.
The S&P CNX Nifty was up 112 points or 2.34% at 4889.80.
The BSE Mid-Cap index was up 1.12% at 6,596.03 and the BSE Small-Cap index was up 1.13% at 8,172.82.
The market breadth was strong: on BSE, 1609 stocks gained, 868 stocks declined and 69 stocks were unchanged.
Mkt trades near day's high
After a sluggish start in the morning the markets have moved upwards amid volatility. Both the frontline indices are trading near day's high. Technology stocks are hogging the limelight with Infosys numbers being better than street expectations. The IT index is up over 3% with Infosys and HCL Tech up over 5% and TCS up over 4% followed by Satyam up over 3%. The broader, markets are doing well helping the breath to recover. Midcap IT stocks are also trading with smart gains.
At 12.46 hrs IST, the Sensex is up 239.33 points or 1.51% at 16046.97, and the Nifty up 88.55 points or 1.85% at 4866.35.
About 1713 shares have advanced, 1047 shares declined, and 314 shares are unchanged.
Top gainers on the bourses Ranbaxy was up 9%, Infosys, TCS, Ranbaxy and HCL Tech while losers - HDFC, HDFC Bank, Hindalco and Nalco.
IT index is up 5.5% with Infosys, TCS, HCL Tech were up over 6% each.
Orchid Chem, Reliance Petroleum, Infosys and Reliance Industries were most active shares.
Technology stocks have outperformed the markets on Infosys good numbers and guidance. BSE IT Index was up 3.6% as buying seen in Infosys (up 4.7%), TCS (up 3.7%), Wipro (2.8%) and Satyam (2.7%).
Telecom stocks are also witnessing buying interest. The BSE TEck Index rose 1.6%.
However, banking, metal, realty and oil stocks are under selling pressure. The BSE Bankex, Metal, Realty and Oil & Gas indices were down 1.1%, 1.03%, 0.43%, and 0.37%, respectively.
At 12.46 hrs IST, the Sensex is up 239.33 points or 1.51% at 16046.97, and the Nifty up 88.55 points or 1.85% at 4866.35.
About 1713 shares have advanced, 1047 shares declined, and 314 shares are unchanged.
Top gainers on the bourses Ranbaxy was up 9%, Infosys, TCS, Ranbaxy and HCL Tech while losers - HDFC, HDFC Bank, Hindalco and Nalco.
IT index is up 5.5% with Infosys, TCS, HCL Tech were up over 6% each.
Orchid Chem, Reliance Petroleum, Infosys and Reliance Industries were most active shares.
Technology stocks have outperformed the markets on Infosys good numbers and guidance. BSE IT Index was up 3.6% as buying seen in Infosys (up 4.7%), TCS (up 3.7%), Wipro (2.8%) and Satyam (2.7%).
Telecom stocks are also witnessing buying interest. The BSE TEck Index rose 1.6%.
However, banking, metal, realty and oil stocks are under selling pressure. The BSE Bankex, Metal, Realty and Oil & Gas indices were down 1.1%, 1.03%, 0.43%, and 0.37%, respectively.
Market extends gains; breadth strong
The market extended gains in the early afternoon trade after IT bellwether Infosys gave a confident medium-term outlook and said it has decided to increase the dividend payout ratio to up to 30% of net profits from the current year from 20% thus far.
Healthcare and PSU stocks moved higher. Ranbaxy Laboratories was the top gainer from the Sensex pack.
Meanwhile, Asian markets, which exhibited mixed trend earlier, recovered slightly. Key indices in Taiwan, Singapore, Hong Kong and Japan were up 0.36% to 0.57%. However, indices in South Korea, Hong Kong and China were down 0.26% to 0.87%.
At 12:20 IST, the 30-share BSE Sensex was up 88.28 points or 0.56% at 15,895.92. The index gained 92.96 points at session’s high of 15,844.21 in early afternoon trade. The Sensex slipped 234.61 points at day’s low of 15,573.03, hit in early trade.
The S&P CNX Nifty was up 33.05 points or 0.69% at 4810.85.
The BSE Mid-Cap index was up 0.71% at 6,569.24 and the BSE Small-Cap index was up 0.90% at 8,153.95.
The market breadth was strong: on BSE, 1409 stocks gained, 964 stocks declined and 52 stocks were unchanged.
India’s largest drug maker by sales Ranbaxy Laboratories surged 7.33% to Rs 476.30 after Anglo-Swedish drugmaker AstraZeneca reportedly said on Tuesday, 15 April 2008 it had settled US patent litigation against Ranbaxy Laboratories over its top-selling drug, ulcer pill Nexium.
India’s second largest software exporter by sales Infosys Technologies rose 5.46% at Rs 1500.76 after the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries fell 0.54% at Rs 2538.
The BSE Healthcare index was up 1.81% at 3,990.08. Orchid Chemicals & Pharmaceuticals (up 8.03% at Rs 267.20), Piramal Healthcare (up 6.24% at Rs 327), Bilcare (up 4.67% at Rs 949), Glenmark Pharmaceuticals (up 2.91% at Rs 518.45) and Dr Reddy’s Laboratories (up 1.30% at Rs 598.70), moved up.
The BSE PSU index was up 1.04% at 7,521.85. MMTC (up 10% at Rs 26,847.80), Rashtriya Chemicals & Fertilizers (up 5% at Rs 60.45), Power Finance Corporation (up 4.15% at Rs 164.30), Neyveli Lignite Corporation (up 3.48% at Rs 132.15) and Chennai Petroleum (up 2.59% at Rs 327), flared up.
Bhagyanagar India, which makes non-ferrous metal products, surged 13.65% to Rs 44.55 after the company said it has scheduled a board meet on 22 April 2008 to consider buy back of equity shares.
Cement maker Grasim Industries slipped 0.49% to Rs 2538 even as the company said it has increased its stake from 25% to 45% in AV Cell Inc, a joint venture company in Canada for a total consideration of around Canadian dollar 6 million
Healthcare and PSU stocks moved higher. Ranbaxy Laboratories was the top gainer from the Sensex pack.
Meanwhile, Asian markets, which exhibited mixed trend earlier, recovered slightly. Key indices in Taiwan, Singapore, Hong Kong and Japan were up 0.36% to 0.57%. However, indices in South Korea, Hong Kong and China were down 0.26% to 0.87%.
At 12:20 IST, the 30-share BSE Sensex was up 88.28 points or 0.56% at 15,895.92. The index gained 92.96 points at session’s high of 15,844.21 in early afternoon trade. The Sensex slipped 234.61 points at day’s low of 15,573.03, hit in early trade.
The S&P CNX Nifty was up 33.05 points or 0.69% at 4810.85.
The BSE Mid-Cap index was up 0.71% at 6,569.24 and the BSE Small-Cap index was up 0.90% at 8,153.95.
The market breadth was strong: on BSE, 1409 stocks gained, 964 stocks declined and 52 stocks were unchanged.
India’s largest drug maker by sales Ranbaxy Laboratories surged 7.33% to Rs 476.30 after Anglo-Swedish drugmaker AstraZeneca reportedly said on Tuesday, 15 April 2008 it had settled US patent litigation against Ranbaxy Laboratories over its top-selling drug, ulcer pill Nexium.
India’s second largest software exporter by sales Infosys Technologies rose 5.46% at Rs 1500.76 after the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries fell 0.54% at Rs 2538.
The BSE Healthcare index was up 1.81% at 3,990.08. Orchid Chemicals & Pharmaceuticals (up 8.03% at Rs 267.20), Piramal Healthcare (up 6.24% at Rs 327), Bilcare (up 4.67% at Rs 949), Glenmark Pharmaceuticals (up 2.91% at Rs 518.45) and Dr Reddy’s Laboratories (up 1.30% at Rs 598.70), moved up.
The BSE PSU index was up 1.04% at 7,521.85. MMTC (up 10% at Rs 26,847.80), Rashtriya Chemicals & Fertilizers (up 5% at Rs 60.45), Power Finance Corporation (up 4.15% at Rs 164.30), Neyveli Lignite Corporation (up 3.48% at Rs 132.15) and Chennai Petroleum (up 2.59% at Rs 327), flared up.
Bhagyanagar India, which makes non-ferrous metal products, surged 13.65% to Rs 44.55 after the company said it has scheduled a board meet on 22 April 2008 to consider buy back of equity shares.
Cement maker Grasim Industries slipped 0.49% to Rs 2538 even as the company said it has increased its stake from 25% to 45% in AV Cell Inc, a joint venture company in Canada for a total consideration of around Canadian dollar 6 million
Market recovers as Infosys spurts
The key indices, which hovered in the negative zone earlier, moved into positive territory in the mid-morning trade. IT stocks clocked smart gains after Infosys reported decent Q4 March 2008 results. But banking stocks struggled to make headway into the positive territory. Asian markets, which opened before Indian markets, were mixed.
At 11:20 IST, the 30-share BSE Sensex was up 4.80 points or 0.03% at 15,812.44. The index gained 36.57 points at session’s high of 15,844.21, hit in the mid-morning trade. The Sensex slipped 234.61 points at day’s low of 15,573.03, hit in early trade.
The S&P CNX Nifty was up 13.45 points or 0.28% at 4791.25.
The BSE Mid-Cap index was up 0.44% at 6,551.91 and the BSE Small-Cap index was up 0.48% at 8,120.45.
The market breadth was strong: on BSE, 1198 stocks gained, 928 stocks declined and 56 stocks were unchanged.
India’s second largest software exporter by sales Infosys Technologies rose 3.56% at Rs 1473.10 after the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
Infosys has given guidance of a between 16.3% to 18.3% growth in earnings per share (EPS) to between Rs 92.32 to Rs 93.92 for the year ending March 2009 over the year ending March 2008. It has given guidance of a between 19.2% to 21.1% growth in revenue to between Rs 19894 crore to Rs 20214 crore for the year ending March 2009 over the year ending March 2008
As per US GAAP, Infosys has given guidance of a 16.7% to 18.7% growth in earnings per American Depository Shares at between $2.31 to $2.35 for the year ending March 2009 over the year ending March 2008. It has given guidance of a between 19% to 21% growth in revenue as per US GAAP to between $4.97 billion to $5.05 billion for the year ending March 2009 over the year ending March 2008
The BSE IT index was up 3.35% at 3,782.06. TCS (up 4.11% at Rs 945.50), I-Flex Solutions (up 3.10% at Rs 1124), HCL Technologies (up 2.95% at Rs 237), Satyam Computer (up 2.37% at Rs 443.45) and Wipro (up 2.39% at Rs 415.75), edged higher.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries fell 1.30% at Rs 2516.85.
The BSE Bankex was down 1.10% at 7,813.86. HDFC Bank (down 2.64% at Rs 1292), Centurion Bank of Punjab (down 2.33% at Rs 41.85), Kotak Mahindra Bank (down 1.48% at Rs 629.40), Axis Bank (down 1.27% at Rs 751), and State Bank of India (down 0.87% at Rs 1653.35), slipped.
India’s largest private sector bank by assets ICICI Bank was down 1.40% at Rs 777.40.
The BSE Metal index was down 1.03% at 13,823.12. Steel Authority of India (down 1.88% at Rs 159.25), Gujarat NRE Coke (down 1.65% at Rs 154.88), Ispat Industries (down 1.38% at Rs 28.50), Hindalco Industries (down 1.84% at Rs 174), National Aluminum Company (down 1.27% at Rs 416), Sterlite Industries (down 1.16% at Rs 782.50) and Tata Steel (down 0.72% at Rs 687.25), declined.
Among the side counters, MMTC (up 10% at Rs 26,847.80), Piramal Healthcare (up 6.24% at Rs 327), United Phosphorus (up 5.15% at Rs 310.45), Gijarat Minerals Development (up 4.87% at Rs 333) and Deccan Aviation (up 4.33% at Rs 133.80), edged higher.
Brokerage firm Motilal Oswal Financial Services soared 4.96% at Rs 690.10 after the firm said its board will meet on 21 April 2008 to consider the subdivision (split) of the equity shares of the company.
Automobile tyres maker JK Tyre & Industries spurted 6.36% at Rs 123.75 after the firm on Friday, 11 April 2008 announced the acquisition of a $200 million Mexican tyre-producing company Tornel for Rs 270 crore.
Anil Dhirubhai Ambani-controlled Reliance Power moved up 3.53% at Rs 374.40 after the Reserve Bank of India (RBI) reportedly approved a proposal by the company to raise $2 billion (about Rs 8,000 crore) for its Sasan ultra mega power project.
New age lender Yes Bank rose 1.03% at Rs 162.45 on reports the bank plans to raise $300 million (about Rs 1,200 crore) by December for its expansion plans.
Asian markets were trading mixed today, 15 April 2008 after a sell-off on Monday, 14 April 2008. Key indices in Taiwan, Singapore and Japan were up 0.30% to 0.74%. However, indices in South Korea, Hong Kong and China were down 0.05% to 1.04%.
At 11:20 IST, the 30-share BSE Sensex was up 4.80 points or 0.03% at 15,812.44. The index gained 36.57 points at session’s high of 15,844.21, hit in the mid-morning trade. The Sensex slipped 234.61 points at day’s low of 15,573.03, hit in early trade.
The S&P CNX Nifty was up 13.45 points or 0.28% at 4791.25.
The BSE Mid-Cap index was up 0.44% at 6,551.91 and the BSE Small-Cap index was up 0.48% at 8,120.45.
The market breadth was strong: on BSE, 1198 stocks gained, 928 stocks declined and 56 stocks were unchanged.
India’s second largest software exporter by sales Infosys Technologies rose 3.56% at Rs 1473.10 after the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
Infosys has given guidance of a between 16.3% to 18.3% growth in earnings per share (EPS) to between Rs 92.32 to Rs 93.92 for the year ending March 2009 over the year ending March 2008. It has given guidance of a between 19.2% to 21.1% growth in revenue to between Rs 19894 crore to Rs 20214 crore for the year ending March 2009 over the year ending March 2008
As per US GAAP, Infosys has given guidance of a 16.7% to 18.7% growth in earnings per American Depository Shares at between $2.31 to $2.35 for the year ending March 2009 over the year ending March 2008. It has given guidance of a between 19% to 21% growth in revenue as per US GAAP to between $4.97 billion to $5.05 billion for the year ending March 2009 over the year ending March 2008
The BSE IT index was up 3.35% at 3,782.06. TCS (up 4.11% at Rs 945.50), I-Flex Solutions (up 3.10% at Rs 1124), HCL Technologies (up 2.95% at Rs 237), Satyam Computer (up 2.37% at Rs 443.45) and Wipro (up 2.39% at Rs 415.75), edged higher.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries fell 1.30% at Rs 2516.85.
The BSE Bankex was down 1.10% at 7,813.86. HDFC Bank (down 2.64% at Rs 1292), Centurion Bank of Punjab (down 2.33% at Rs 41.85), Kotak Mahindra Bank (down 1.48% at Rs 629.40), Axis Bank (down 1.27% at Rs 751), and State Bank of India (down 0.87% at Rs 1653.35), slipped.
India’s largest private sector bank by assets ICICI Bank was down 1.40% at Rs 777.40.
The BSE Metal index was down 1.03% at 13,823.12. Steel Authority of India (down 1.88% at Rs 159.25), Gujarat NRE Coke (down 1.65% at Rs 154.88), Ispat Industries (down 1.38% at Rs 28.50), Hindalco Industries (down 1.84% at Rs 174), National Aluminum Company (down 1.27% at Rs 416), Sterlite Industries (down 1.16% at Rs 782.50) and Tata Steel (down 0.72% at Rs 687.25), declined.
Among the side counters, MMTC (up 10% at Rs 26,847.80), Piramal Healthcare (up 6.24% at Rs 327), United Phosphorus (up 5.15% at Rs 310.45), Gijarat Minerals Development (up 4.87% at Rs 333) and Deccan Aviation (up 4.33% at Rs 133.80), edged higher.
Brokerage firm Motilal Oswal Financial Services soared 4.96% at Rs 690.10 after the firm said its board will meet on 21 April 2008 to consider the subdivision (split) of the equity shares of the company.
Automobile tyres maker JK Tyre & Industries spurted 6.36% at Rs 123.75 after the firm on Friday, 11 April 2008 announced the acquisition of a $200 million Mexican tyre-producing company Tornel for Rs 270 crore.
Anil Dhirubhai Ambani-controlled Reliance Power moved up 3.53% at Rs 374.40 after the Reserve Bank of India (RBI) reportedly approved a proposal by the company to raise $2 billion (about Rs 8,000 crore) for its Sasan ultra mega power project.
New age lender Yes Bank rose 1.03% at Rs 162.45 on reports the bank plans to raise $300 million (about Rs 1,200 crore) by December for its expansion plans.
Asian markets were trading mixed today, 15 April 2008 after a sell-off on Monday, 14 April 2008. Key indices in Taiwan, Singapore and Japan were up 0.30% to 0.74%. However, indices in South Korea, Hong Kong and China were down 0.05% to 1.04%.
Tuesday, April 15, 2008
Mkts choppy: Technology stocks gain
The markets have turned into choppy mode ahead of results announcements and reacting to mixed Asian cues after weak opening in morning trade. Infosys numbers did not support the markets to boost though they are better than expectations. Market breadth is positive.
At 10.29 hrs IST, the Sensex was down 30.65 points or 0.19% at 15776.99, and the Nifty down 4.35 points or 0.09% at 4773.45. About 1503 shares have advanced, 1233 shares declined, and 338 shares are unchanged.
Top gainers on the bourses were Infosys, TCS, Ranbaxy and HCL Tech while losers - HDFC, HDFC Bank, Hindalco and Nalco.
Orchid Chem, Reliance Petroleum, Infosys and Reliance Industries were most active shares.
Technology stocks have outperformed the markets on Infosys good numbers and guidance. BSE IT Index was up 3.6% as buying seen in Infosys (up 4.7%), TCS (up 3.7%), Wipro (2.8%) and Satyam (2.7%).
Telecom stocks are also witnessing buying interest. The BSE TEck Index rose 1.6%.
However, banking, metal, realty and oil stocks are under selling pressure. The BSE Bankex, Metal, Realty and Oil & Gas indices were down 1.1%, 1.03%, 0.43%, and 0.37%, respectively.
At 10.29 hrs IST, the Sensex was down 30.65 points or 0.19% at 15776.99, and the Nifty down 4.35 points or 0.09% at 4773.45. About 1503 shares have advanced, 1233 shares declined, and 338 shares are unchanged.
Top gainers on the bourses were Infosys, TCS, Ranbaxy and HCL Tech while losers - HDFC, HDFC Bank, Hindalco and Nalco.
Orchid Chem, Reliance Petroleum, Infosys and Reliance Industries were most active shares.
Technology stocks have outperformed the markets on Infosys good numbers and guidance. BSE IT Index was up 3.6% as buying seen in Infosys (up 4.7%), TCS (up 3.7%), Wipro (2.8%) and Satyam (2.7%).
Telecom stocks are also witnessing buying interest. The BSE TEck Index rose 1.6%.
However, banking, metal, realty and oil stocks are under selling pressure. The BSE Bankex, Metal, Realty and Oil & Gas indices were down 1.1%, 1.03%, 0.43%, and 0.37%, respectively.
Key indices trade lower; Infy gains after Q4 results
The key indices opened lower after an extended weekend. But markets soon pared losses, led by gains in key IT stocks after sector bellwether Infosys declared its quarterly results. Banking and capital goods stocks edged lower. Asian stocks, which opened before Indian markets, were mixed.
At 10:20 IST, the 30-share BSE Sensex was down 40.76 points or 0.29% at 15,762.42. The Sensex slipped 234.61 points at day’s low of 15,573.03, hit in early trade.
The S&P CNX Nifty was down 13.7 points or 0.29% at 4764.10.
The BSE Mid-Cap index was up 0.13% at 6,531.69 and the BSE Small-Cap index was up 0.42% at 8,115.11.
The market breadth was almost stable: on BSE, 757 stocks gained, 761 stocks declined and 31 stocks were unchanged.
India’s second largest software exporter by sales Infosys Technologies rose 4.05% at Rs 1480 after the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
Infosys has given guidance of a between 16.3% to 18.3% growth in earnings per share (EPS) to between Rs 92.32 to Rs 93.92 for the year ending March 2009 over the year ending March 2008. It has given guidance of a between 19.2% to 21.1% growth in revenue to between Rs 19894 crore to Rs 20214 crore for the year ending March 2009 over the year ending March 2008
As per US GAAP, Infosys has given guidance of a 16.7% to 18.7% growth in earnings per American Depository Shares at between $2.31 to $2.35 for the year ending March 2009 over the year ending March 2008. It has given guidance of a between 19% to 21% growth in revenue as per US GAAP to between $4.97 billion to $5.05 billion for the year ending March 2009 over the year ending March 2008
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries fell 1.81% at Rs 2504.
India’s largest private sector bank by assets ICICI Bank was down 2.09% at Rs 771.95.
India’s largest engineering and construction firm by revenue Larsen & Toubro fell 0.87% at Rs 2750.
HDFC Bank (down 2.85% at Rs 1290), Housing Development Finance Corporation (down 2.40% at Rs 2323.95), State Bank of India (down 1.47% at Rs 1643.45), Bharat Heavy Electricals (down 1.49% at Rs 1802.75) and Hindalco Industries (down 1.45% at Rs 173.80), were the top losers from the Sensex pack.
TCS (up 2.24% at Rs 905), Satyam Computer (up 2.10% at Rs 442.30), Ranbaxy Laboratories (up 1.75% at Rs 451.30), and Wipro (up 2.14% at Rs 415), were the top gainers from the Sensex pack.
Mukesh Ambani-controlled Reliance Petroleum (RPL) was the most active stock on BSE in terms of turnover. The RPL stock clocked a turnover Rs 42.02 crore, while the stock was up 1.62% at Rs 184.90.
Asian markets were trading mixed today, 15 April 2008 after a sell-off on Monday, 14 April 2008. Key indices in Taiwan, Singapore and Japan were up 0.31% to 0.60%. However, indices in South Korea, Hong Kong and China were down 0.06% to 1.19%.
US markets slipped yesterday, 14 April 2008, after Wachovia declared an unexpected first quarter loss. On the other hand, a US government report declared better-than-expected growth in retail sales. The Dow Jones industrial average slipped 23.36 points, or 0.19%, to 12,302.06. The S&P 500 index was down 4.51 points, or 0.34%, to 1,328.32, and the Nasdaq Composite index dropped 14.42 points, or 0.63%, to 2,275.82. US markets had suffered sharp losses on Friday, 11 April 2008.
Back home, Indian market remained closed on Monday, 14 April 2008 on account of public holiday.
The 30-share BSE Sensex rose 112.54 points or 0.72% at 15,807.64 on Friday, 11 April 2008. The S&P CNX Nifty was up 44.80 points or 0.95% at 4777.80 on that day.
The wholesale price index rose 7.41% in 12 months to 29 March 2008, accelerating from the previous week's annual rise of 7%, government data showed on Friday, 11 April 2008, sparking concerns that the Reserve Bank of India may tighten monetary policy. The rate is the highest reading since 13 November 2004 when it was 7.68%. The annual inflation rate was 5.94% during the corresponding week of the previous year.
India's industrial output (IIP) rose 8.6% in February 2008 from a year earlier, rising from the previous month's upwardly revised 5.8% growth, data showed on Friday, 11 April 2008
As per provisional data, foreign funds sold shares worth a net Rs 173 crore on Friday, 11 April 2008. Domestic funds purchased shares worth a net Rs 326.04 crore on that day.
At 10:20 IST, the 30-share BSE Sensex was down 40.76 points or 0.29% at 15,762.42. The Sensex slipped 234.61 points at day’s low of 15,573.03, hit in early trade.
The S&P CNX Nifty was down 13.7 points or 0.29% at 4764.10.
The BSE Mid-Cap index was up 0.13% at 6,531.69 and the BSE Small-Cap index was up 0.42% at 8,115.11.
The market breadth was almost stable: on BSE, 757 stocks gained, 761 stocks declined and 31 stocks were unchanged.
India’s second largest software exporter by sales Infosys Technologies rose 4.05% at Rs 1480 after the company reported 1.46% rise in consolidated net profit to Rs 1249 crore on a 6.34% growth in revenue to Rs 4542 crore in Q4 March 2008 over Q3 December 2007.
Infosys has given guidance of a between 16.3% to 18.3% growth in earnings per share (EPS) to between Rs 92.32 to Rs 93.92 for the year ending March 2009 over the year ending March 2008. It has given guidance of a between 19.2% to 21.1% growth in revenue to between Rs 19894 crore to Rs 20214 crore for the year ending March 2009 over the year ending March 2008
As per US GAAP, Infosys has given guidance of a 16.7% to 18.7% growth in earnings per American Depository Shares at between $2.31 to $2.35 for the year ending March 2009 over the year ending March 2008. It has given guidance of a between 19% to 21% growth in revenue as per US GAAP to between $4.97 billion to $5.05 billion for the year ending March 2009 over the year ending March 2008
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries fell 1.81% at Rs 2504.
India’s largest private sector bank by assets ICICI Bank was down 2.09% at Rs 771.95.
India’s largest engineering and construction firm by revenue Larsen & Toubro fell 0.87% at Rs 2750.
HDFC Bank (down 2.85% at Rs 1290), Housing Development Finance Corporation (down 2.40% at Rs 2323.95), State Bank of India (down 1.47% at Rs 1643.45), Bharat Heavy Electricals (down 1.49% at Rs 1802.75) and Hindalco Industries (down 1.45% at Rs 173.80), were the top losers from the Sensex pack.
TCS (up 2.24% at Rs 905), Satyam Computer (up 2.10% at Rs 442.30), Ranbaxy Laboratories (up 1.75% at Rs 451.30), and Wipro (up 2.14% at Rs 415), were the top gainers from the Sensex pack.
Mukesh Ambani-controlled Reliance Petroleum (RPL) was the most active stock on BSE in terms of turnover. The RPL stock clocked a turnover Rs 42.02 crore, while the stock was up 1.62% at Rs 184.90.
Asian markets were trading mixed today, 15 April 2008 after a sell-off on Monday, 14 April 2008. Key indices in Taiwan, Singapore and Japan were up 0.31% to 0.60%. However, indices in South Korea, Hong Kong and China were down 0.06% to 1.19%.
US markets slipped yesterday, 14 April 2008, after Wachovia declared an unexpected first quarter loss. On the other hand, a US government report declared better-than-expected growth in retail sales. The Dow Jones industrial average slipped 23.36 points, or 0.19%, to 12,302.06. The S&P 500 index was down 4.51 points, or 0.34%, to 1,328.32, and the Nasdaq Composite index dropped 14.42 points, or 0.63%, to 2,275.82. US markets had suffered sharp losses on Friday, 11 April 2008.
Back home, Indian market remained closed on Monday, 14 April 2008 on account of public holiday.
The 30-share BSE Sensex rose 112.54 points or 0.72% at 15,807.64 on Friday, 11 April 2008. The S&P CNX Nifty was up 44.80 points or 0.95% at 4777.80 on that day.
The wholesale price index rose 7.41% in 12 months to 29 March 2008, accelerating from the previous week's annual rise of 7%, government data showed on Friday, 11 April 2008, sparking concerns that the Reserve Bank of India may tighten monetary policy. The rate is the highest reading since 13 November 2004 when it was 7.68%. The annual inflation rate was 5.94% during the corresponding week of the previous year.
India's industrial output (IIP) rose 8.6% in February 2008 from a year earlier, rising from the previous month's upwardly revised 5.8% growth, data showed on Friday, 11 April 2008
As per provisional data, foreign funds sold shares worth a net Rs 173 crore on Friday, 11 April 2008. Domestic funds purchased shares worth a net Rs 326.04 crore on that day.
markets have opened lower
The markets have opened lower on the back of marginally weak global cues and selling pressure in banking, power, metal, realty, oil, capital goods and auto stocks. Market breadth is negative. Midcap and small cap stocks also slipped. On the global front, Asian markets were trading mixed.
At 9:56 am, the Sensex was down 202 points at 15,605 and the Nifty down 58 points at 4,719.
ICICI Bank, SBI, L&T, BHEL, Reliance, Axis Bank, PNB, Tata Motors and DLF were down.
Infosys was up 2.2% at Rs 1459 after announced of Q4 and FY08 numbers, which are inline with the expectations. It has posted posted FY08 net profit of Rs 4659 crore as against Rs 3856 crore in FY07 and net sales at Rs 16692 crore versus Rs 13893 crore.
Asian markets were trading mixed. Shanghai Composite was down 1.33%, Hang Seng down 0.30% and Seoul Composite down 0.41% while Jakarta Composite rose 0.5%, Nikkei up 0.97%, Straits Times up 0.09% and Taiwan up 0.20%.
At 9:56 am, the Sensex was down 202 points at 15,605 and the Nifty down 58 points at 4,719.
ICICI Bank, SBI, L&T, BHEL, Reliance, Axis Bank, PNB, Tata Motors and DLF were down.
Infosys was up 2.2% at Rs 1459 after announced of Q4 and FY08 numbers, which are inline with the expectations. It has posted posted FY08 net profit of Rs 4659 crore as against Rs 3856 crore in FY07 and net sales at Rs 16692 crore versus Rs 13893 crore.
Asian markets were trading mixed. Shanghai Composite was down 1.33%, Hang Seng down 0.30% and Seoul Composite down 0.41% while Jakarta Composite rose 0.5%, Nikkei up 0.97%, Straits Times up 0.09% and Taiwan up 0.20%.
Infosys FY08 net profit at Rs 4659 cr; EPS at Rs 81.56
Infosys Technologies has announced its fourth quarter and financial year 2008 numbers. It has posted FY08 net profit of Rs 4659 crore as against Rs 3856 crore in FY07 and net sales at Rs 16692 crore versus Rs 13893 crore.
Its FY08 EPS stood at Rs 81.56 as against its guidance of Rs 81.07.
For the quarter ended March 2008 (Q4), it has posted net profit of Rs 1,249 crore versus Rs 1,231 crore in previous quarter and revenue at Rs 4,542 crore versus Rs 4,271 crore.
Operating margin stood at 32.54% versus 32.60% while projection was at 32.8%. Other income was at Rs 139 crore and tax provision reported at Rs 211 crore. BFSI contributed 33.9% to Q4 revenues as against 36.8% in Q3.
Revenue and EPS growth in rupee terms is slowest since FY03.
The company says they have added one USD 300 million client in Q4 and in total, added 40 clients during the quarter. Net addition of employees stood at 2,596.
Guidance
FY09 revenues seen at Rs 19894-20214 crore
FY09 EPS at Rs 92.30-93.90
Q1 revenues seen at Rs 4570-4582 crore
Q1 EPS seen at Rs 20.73 Vs Rs 21.83 in Q4 (De-growth Of 5%)
According to CNBC-TV18 estimates, Infosys was expected to post FY08 net profit of Rs 4,663.8 crore and revenues at Rs 16,677.4 crore.
Monday, April 14, 2008
Asian Markets opens in Red all down more than 2%
Nikkei 225 12,949.80 -373.93 -2.81%
Hang Seng 23,896.70 -771.09 -3.13%
Straits Times 3,048.63 -78.24 -2.50%
Hang Seng 23,896.70 -771.09 -3.13%
Straits Times 3,048.63 -78.24 -2.50%
Us markets crash by more than 2%
Dow 12,325.42 -256.56 -2.04%
Nasdaq 2,290.24 -61.46 -2.61%
S&P 500 1,332.83 -27.72 -2.04%
Nasdaq 2,290.24 -61.46 -2.61%
S&P 500 1,332.83 -27.72 -2.04%
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