The market extended losses in the mid-afternoon trade. Weak global cues and a surge in inflation to more than three year high dampened the investor sentiments today. Consumer durables and FMCG stocks bucked the weak market trend. Bharti Airtel held firm.
European markets, which open after Indian markets, were trading lower. Key indices in UK, France and Germay were down by 1.13% to 2.04%. Asian markets, which opened before Indian market, were trading lower. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.36% to 2.06%.
At 14:20 IST, the 30-share BSE Sensex was down 198.65 points or 1.16% at 16,882.01. The index lost 236.56 points at day’s low of 16,844.09, hit in the mid-afternoon trade. Sensex rose 45.3 points at the day's high of 17,125.95, hit in early trade.
The broader based S&P CNX Nifty was down 63.75 points or 1.25% at 5017.95.
The market breadth was weak on BSE with 928 shares advancing as compared to 1704 stocks that declined. 61 stocks remained unchanged.
The BSE Mid-Cap index fell 0.92% to 7,087.48 and BSE Small-Cap index fell 0.68% to 8,629.84.
India’s biggest cellular service provider by market share Bharti Airtel spurted 3.55% to Rs 856.75. Some reports suggested Bharti Airtel may make an offer to acquire MTN Group next week.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries slipped 3.34% to Rs 2577.
India’s largest private sector bank by assets ICICI Bank slipped 2.03% to Rs 873.20. State Bank of India (down 1.49% to Rs 1704.85) and HDFC Bank (down 3.67% at Rs 1451.60), declined.
The BSE Consumer Durables index was up 0.66% at 4,439.22. Rajesh Exports (2.46% at Rs 99.90), Blue Star (down 2.43% at Rs 454), Gitanjali Gems (down 1.46% at Rs 274) and Videocon Industries (down 0.55% at Rs 368.25), moved higher.
The BSE FMCG index was up 0.17% to 2,449.18. Nestle (up 2.33% at Rs 1,795), Godrej Consumer Products (up 0.70% at Rs 137.05), ITC (up 0.70% at Rs 216.55), Tata Tea (up 0.52% at Rs 915) and Britannia Industries (up 0.37% at Rs 1,370.05), gained.
Electronic display units maker MIC Electronics jumped 2.02% to Rs 920.85 after the firm said its board will meet on 19 May 2008 to consider splitting each share into five.
India’s largest dry cell battery manufacturer by sales Eveready Industries India jumped 3.92% to Rs 46.40 after the company reported lower net loss of Rs 8.16 crore in Q4 March 2008 compared to net loss of Rs 26.45 crore in Q4 March 2007. Sales rose 10.40% to Rs 193.20 crore in Q4 March 2008 over Q4 March 2007.
Moser Baer (down 5.70% at Rs 180.40), Reliance Petroleum (down 5.46% at Rs 186.10), Reliance Capital (down 5.42% at Rs 1,309.90), MRPL (down 4.45% at Rs 93.30), Chennai Petroleum (down 4.32% at Rs 364), and Essar Oil (down 272), fell.
Friday, May 9, 2008
Bank shares down after inflation data
The market witnessed a bout of volatility after the latest data showed a surge in inflation to highest level in more than three years. Banking and oil & gas stocks edged lower. The market breadth was positive.
Asian markets were trading lower. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.60% to 2.06%.
At 12:20 IST, the 30-share BSE Sensex was down 31.87 points or 0.19% at 17,048.78. The index lost 106.03 points at day’s low of 16,974.62, hit in early trade. Sensex rose 45.3 points at the day's high of 17,125.95, hit in early trade.
The broader based S&P CNX Nifty was down 12.85 points or 0.25% at 5068.85.
The market breadth was positive on BSE with 1275 shares advancing as compared to 1177 stocks that declined. 69 stocks remained unchanged.
The BSE Mid-Cap index rose 0.01% to 7,153.80 and BSE Small-Cap index rose 0.39% to 8,723.30.
The top Sensex gainers were, Bharti Airtel (up 3.12% at Rs 853.10), Reliance Communication (up 1.91% at Rs 553.30), Wipro (up 1.38% at Rs 504), Satyam Computer (up 1.15% at Rs 476.50), and Ranbaxy Laboratories (up 1.05% at Rs 475).
Top Sensex losers were, ACC (down 1.94% at Rs 728.50), Bharat Heavy Electricals (down 1.72% at Rs 1729.90), Housing Development Finance Corporation (down 1.57% at Rs 2679.90), Hindalco Industries (down 1.64% at Rs 177.10) and TCS (down 1.24% at Rs 932).
The BSE Bankex was down 0.41% to 8,720.01. HDFC Bank (down 2.12% at Rs 1,476.45), Centurion Bank of Punjab (down 2.01% at Rs 48.80), Axis Bank (down 0.50% at Rs 859), and State Bank of India (down 0.10% at Rs 1,728.15), slipped.
India's largest private sector bank by assets ICICI Bank rose 0.99% to Rs 900.15.
The BSE Oil & Gas index was down 0.83% to 11,531.42. Reliance Petroleum (down 3.73% at Rs 189.50), Gail India (down 2.41% at Rs 412.40), BPCL (down 0.91% at Rs 381.05), ONGC (down 0.80% at Rs 1,020.10), Indian Oil Corporation (down 0.74% at Rs 446.45), slipped. However, HPCL rose 0.26% to Rs 246.80.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.65% at Rs 2647.
Among the side counters, Reliance Industrial Infrastructure (down 5% at Rs 1,392.65), Reliance Capital (down 3.24% at Rs 1,340), Nagarjuna Construction Company (down 2.86% at Rs 212.55), Chennai Petroleum (down 2.75% at Rs 370) and Indiabulls Financial Services (down 2.67% at Rs 477.90), dropped.
Side counter stocks that gained were, Max India (up 10% at Rs 163.50), Godrej Industries (up 8.70% at Rs 309.70), United Breweries Holdings (up 7.84% at Rs 755), Rajesh Exports (up .62% at Rs 102), and Videocon Industries (up 4.05% at Rs 381.10).
Asian markets were trading lower. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.60% to 2.06%.
At 12:20 IST, the 30-share BSE Sensex was down 31.87 points or 0.19% at 17,048.78. The index lost 106.03 points at day’s low of 16,974.62, hit in early trade. Sensex rose 45.3 points at the day's high of 17,125.95, hit in early trade.
The broader based S&P CNX Nifty was down 12.85 points or 0.25% at 5068.85.
The market breadth was positive on BSE with 1275 shares advancing as compared to 1177 stocks that declined. 69 stocks remained unchanged.
The BSE Mid-Cap index rose 0.01% to 7,153.80 and BSE Small-Cap index rose 0.39% to 8,723.30.
The top Sensex gainers were, Bharti Airtel (up 3.12% at Rs 853.10), Reliance Communication (up 1.91% at Rs 553.30), Wipro (up 1.38% at Rs 504), Satyam Computer (up 1.15% at Rs 476.50), and Ranbaxy Laboratories (up 1.05% at Rs 475).
Top Sensex losers were, ACC (down 1.94% at Rs 728.50), Bharat Heavy Electricals (down 1.72% at Rs 1729.90), Housing Development Finance Corporation (down 1.57% at Rs 2679.90), Hindalco Industries (down 1.64% at Rs 177.10) and TCS (down 1.24% at Rs 932).
The BSE Bankex was down 0.41% to 8,720.01. HDFC Bank (down 2.12% at Rs 1,476.45), Centurion Bank of Punjab (down 2.01% at Rs 48.80), Axis Bank (down 0.50% at Rs 859), and State Bank of India (down 0.10% at Rs 1,728.15), slipped.
India's largest private sector bank by assets ICICI Bank rose 0.99% to Rs 900.15.
The BSE Oil & Gas index was down 0.83% to 11,531.42. Reliance Petroleum (down 3.73% at Rs 189.50), Gail India (down 2.41% at Rs 412.40), BPCL (down 0.91% at Rs 381.05), ONGC (down 0.80% at Rs 1,020.10), Indian Oil Corporation (down 0.74% at Rs 446.45), slipped. However, HPCL rose 0.26% to Rs 246.80.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.65% at Rs 2647.
Among the side counters, Reliance Industrial Infrastructure (down 5% at Rs 1,392.65), Reliance Capital (down 3.24% at Rs 1,340), Nagarjuna Construction Company (down 2.86% at Rs 212.55), Chennai Petroleum (down 2.75% at Rs 370) and Indiabulls Financial Services (down 2.67% at Rs 477.90), dropped.
Side counter stocks that gained were, Max India (up 10% at Rs 163.50), Godrej Industries (up 8.70% at Rs 309.70), United Breweries Holdings (up 7.84% at Rs 755), Rajesh Exports (up .62% at Rs 102), and Videocon Industries (up 4.05% at Rs 381.10).
inflation rate 7.61%
Inflation based on wholesale prices rose 7.61% in the 12 months to 26 April 2008, marginally higher than previous week's annual rise of 7.5%, government data released in early afternoon trade showed.
Subdued trend prevails ahead of inflation data
The key benchmark indices were trading weak in the mid-morning trade. Investors were cautious ahead of the inflation data for the year through 26 April 2008 which is expected by 12:00 IST. IT and capital good stocks moved into positive territory. Consumer durables shares extended gains.
Asian markets were trading lower. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.33% to 1.73%.
India’s inflation data for the year through 26 April 2008 is expected by 12:00 IST.
At 11:20 IST, the 30-share BSE Sensex was down 34.36 points or 0.20% at 17,046.29. The index lost 106.03 points at day’s low of 16,974.62, hit in early trade. Sensex rose 45.3 points at the day's high of 17,125.95, hit in early trade.
The broader based S&P CNX Nifty was down 20.15 points or 0.40% at 5061.55.
The market breadth was positive on BSE with 1175 shares advancing as compared to 1053 stocks that declined. 77 stocks remained unchanged.
The BSE Mid-Cap index fell 0.10% to 7,146.11 and BSE Small-Cap index rose 0.38% to 8,721.67.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.12% at Rs 2663.05.
The BSE IT index was up 0.08% at 4,297.90. Aptech (up 1.34% at Rs 248.95), Financial Technologies (up 1.01% at Rs 1,845), Wipro (up 0.73% at Rs 500.80), and Satyam Computer (up 0.41% at Rs 473.05), rose.
India's largest software exporter by sales TCS fell 0.19% to Rs 941.95. India's second largest software exporter by sales Infosys Technologies was down 0.33% at Rs 1,774.
The BSE Capital Goods index was up 0.10% at 13,389. Bharat Electronics (up 0.92% at Rs 1,235), Larsen & Toubro (up 0.91% at Rs 2,912.55), and Suzlon Energy (up 0.27% at Rs 280), rose.
India’s largest electrical equipment maker by sales Bharat Heavy Electicals fell 1.15% at Rs 1740.
The BSE Bankex was down 0.45% at 8,715.84. Karnataka Bank (down 1.57% at Rs 204), HDFC Bank (down 1.52% at Rs 1,485.50), State Bank of India (down 0.07% at Rs 1,728.65) and ICICI Bank (down 0.06% at Rs 890.75), declined.
Anil Dhirubhai Ambani group firm Reliance Power rose 0.85% to Rs 423.35. The stock is in action ahead of its record date for 3-for-5 bonus issue of shares. The company has set 2 June 2008 as the record date for bonus issue. The stock rose nearly 5.80% in past five sessions to Rs 419.80 on Thursday, 8 May 2008 from Rs 396.75 on Friday, 2 May 2008.
Ethanol maker Dollex Industries spurted 5.76% to Rs 50.50. The stock is in demand since Wednesday, 7 May 2008 when it declared 20 May 2008 as the record date for a 2-for-1 stock split. The stock had galloped 15.33% to Rs 47.75 on Thursday, 8 May 2008 from Rs 41.40 on 6 May 2008.
Private sector lender Kotak Mahindra Bank rose 0.20% to Rs 784. Global investment firm Credit Suisse has cut its rating on the stock by 20% to Rs 708 a share.
IT firm 3i Infotech rose 2.13% to Rs 129.70 after the firm said on Thursday it has acquired 26% stake in Hyderabad-based IT infrastructure services firm Locuz Enterprise Solutions, for an undisclosed sum.
Non-banking financial firm TVS Finance and Services rose 2.89% to Rs 24.90 on reports the Tata group’s financial services arm, Tata Capital, is in talks to acquire or become a strategic partner of the former
Asian markets were trading lower. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.33% to 1.73%.
India’s inflation data for the year through 26 April 2008 is expected by 12:00 IST.
At 11:20 IST, the 30-share BSE Sensex was down 34.36 points or 0.20% at 17,046.29. The index lost 106.03 points at day’s low of 16,974.62, hit in early trade. Sensex rose 45.3 points at the day's high of 17,125.95, hit in early trade.
The broader based S&P CNX Nifty was down 20.15 points or 0.40% at 5061.55.
The market breadth was positive on BSE with 1175 shares advancing as compared to 1053 stocks that declined. 77 stocks remained unchanged.
The BSE Mid-Cap index fell 0.10% to 7,146.11 and BSE Small-Cap index rose 0.38% to 8,721.67.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.12% at Rs 2663.05.
The BSE IT index was up 0.08% at 4,297.90. Aptech (up 1.34% at Rs 248.95), Financial Technologies (up 1.01% at Rs 1,845), Wipro (up 0.73% at Rs 500.80), and Satyam Computer (up 0.41% at Rs 473.05), rose.
India's largest software exporter by sales TCS fell 0.19% to Rs 941.95. India's second largest software exporter by sales Infosys Technologies was down 0.33% at Rs 1,774.
The BSE Capital Goods index was up 0.10% at 13,389. Bharat Electronics (up 0.92% at Rs 1,235), Larsen & Toubro (up 0.91% at Rs 2,912.55), and Suzlon Energy (up 0.27% at Rs 280), rose.
India’s largest electrical equipment maker by sales Bharat Heavy Electicals fell 1.15% at Rs 1740.
The BSE Bankex was down 0.45% at 8,715.84. Karnataka Bank (down 1.57% at Rs 204), HDFC Bank (down 1.52% at Rs 1,485.50), State Bank of India (down 0.07% at Rs 1,728.65) and ICICI Bank (down 0.06% at Rs 890.75), declined.
Anil Dhirubhai Ambani group firm Reliance Power rose 0.85% to Rs 423.35. The stock is in action ahead of its record date for 3-for-5 bonus issue of shares. The company has set 2 June 2008 as the record date for bonus issue. The stock rose nearly 5.80% in past five sessions to Rs 419.80 on Thursday, 8 May 2008 from Rs 396.75 on Friday, 2 May 2008.
Ethanol maker Dollex Industries spurted 5.76% to Rs 50.50. The stock is in demand since Wednesday, 7 May 2008 when it declared 20 May 2008 as the record date for a 2-for-1 stock split. The stock had galloped 15.33% to Rs 47.75 on Thursday, 8 May 2008 from Rs 41.40 on 6 May 2008.
Private sector lender Kotak Mahindra Bank rose 0.20% to Rs 784. Global investment firm Credit Suisse has cut its rating on the stock by 20% to Rs 708 a share.
IT firm 3i Infotech rose 2.13% to Rs 129.70 after the firm said on Thursday it has acquired 26% stake in Hyderabad-based IT infrastructure services firm Locuz Enterprise Solutions, for an undisclosed sum.
Non-banking financial firm TVS Finance and Services rose 2.89% to Rs 24.90 on reports the Tata group’s financial services arm, Tata Capital, is in talks to acquire or become a strategic partner of the former
Market opens lower
The market edged lower in opening trade, extending the decline for the fifth straight session. Weak Asian markets and soaring crude oil prices dampened the sentiments. Investors were also cautious ahead of the inflation data for the year through 26 April 2008 which is expected by 12:00 IST.
IT and banking shares were hammered. Realty stocks were in positive territory. The market breadth was positive.
Asian markets were trading lower. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.24% to 1.93%.
At 10:20 IST, the 30-share BSE Sensex was down 18.43 points or 0.11% at 17,062.22. The index lost 106.03 points at day’s low of 16,974.62, hit in early trade.
The broader based S&P CNX Nifty was down 6.65 points or 0.13% at 5075.05.
The market breadth was positive on BSE with 898 shares advancing as compared to 720 stocks that declined. 42 stocks remained unchanged.
The BSE Mid-Cap index rose 0.09% to 7,159.65 and BSE Small-Cap index rose 0.23% to 8,709.04.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.16% at Rs 2662.
India’s largest private sector bank by assets ICICI Bank fell 0.43% to Rs 887.50.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 1.69% to Rs 2935.
The top Sensex gainers were, Bharti Airtel (up 2.43% at Rs 847), DLF (up 1.68% at Rs 654.60), Grasim Industries (up 1.12% at Rs 2356.10), Reliance Communication (up 0.41% at Rs 545.15), Cipla (up 0.45% at Rs 212.50), and ITC (up 0.21% at Rs 215.50).
Top Sensex losers were Housing Development Finance Corporation (down 1.21% at Rs 2687.70), ACC (down 1.18% at Rs 735), Bharat Heavy Electricals (up 1.06% at Rs 1741.50), Infosys Technologies (down 0.44% at Rs 1773), and Hindustan Unilever (down 0.60% at Rs 249.45).
Aishwarya Telecom was the top traded counter in terms of turnover. The stock was up 2.31% at Rs 99.70 on a turnover of Rs 93.12 crore.
IT and banking shares were hammered. Realty stocks were in positive territory. The market breadth was positive.
Asian markets were trading lower. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.24% to 1.93%.
At 10:20 IST, the 30-share BSE Sensex was down 18.43 points or 0.11% at 17,062.22. The index lost 106.03 points at day’s low of 16,974.62, hit in early trade.
The broader based S&P CNX Nifty was down 6.65 points or 0.13% at 5075.05.
The market breadth was positive on BSE with 898 shares advancing as compared to 720 stocks that declined. 42 stocks remained unchanged.
The BSE Mid-Cap index rose 0.09% to 7,159.65 and BSE Small-Cap index rose 0.23% to 8,709.04.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.16% at Rs 2662.
India’s largest private sector bank by assets ICICI Bank fell 0.43% to Rs 887.50.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 1.69% to Rs 2935.
The top Sensex gainers were, Bharti Airtel (up 2.43% at Rs 847), DLF (up 1.68% at Rs 654.60), Grasim Industries (up 1.12% at Rs 2356.10), Reliance Communication (up 0.41% at Rs 545.15), Cipla (up 0.45% at Rs 212.50), and ITC (up 0.21% at Rs 215.50).
Top Sensex losers were Housing Development Finance Corporation (down 1.21% at Rs 2687.70), ACC (down 1.18% at Rs 735), Bharat Heavy Electricals (up 1.06% at Rs 1741.50), Infosys Technologies (down 0.44% at Rs 1773), and Hindustan Unilever (down 0.60% at Rs 249.45).
Aishwarya Telecom was the top traded counter in terms of turnover. The stock was up 2.31% at Rs 99.70 on a turnover of Rs 93.12 crore.
Pre Market Report 09/05/2008
The market is likely to turn cautious ahead of inflation data to be released for the week ended 26 April 2008 by noon today. Soaring crude oil prices and no visible cooling in the prices of primary articles, inflation is likely to be more or less near previous week's levels.
The spiralling inflation has been the biggest cause of concern for Indian equities market. The wholesale price index (WPI) in the week ended 19 April 2008 had galloped to a fresh three-and-a-half-year high of 7.57% from 7.33%. The WPI remained above the 7%-mark (significantly above RBI's revised target of 5.5% for the year) for the past four weeks.
The recent rally in crude oil may also continue to weigh on investor sentiment. Oil rallied to strike a fresh record to an all-peak of $124.61 a barrel, after settling up 16 cents at $123.69 yesterday, 9 May 2008 as strong diesel demand outweighed signs of rising OPEC supplies.
With results already declared from majority of the frontline corporates, the result season has almost come to an end. The near term trend is likely to be dictated by global cues.
Aggregate results of 1601 companies showed 17.90% rise in net profit on 22.60% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 29.50% rise in net profit on 23.30% rise in net sales in the year ended March 2008 over year ended March 2007.
Meanwhile in a meeting held yesterday, 8 May 2008, the Bank of England and the European Central Bank have both kept interest rates unchanged at 5% and 4% respectively, as expected. Most experts now predict that both central banks are likely to cut rates by the end of the year to shore up stumbling economies.
Asian markets were mixed today, 9 May 2008. Nikkei (down 0.91% at 13,815.68), Hong Kong's Hang Seng (down 0.16% at 25,409.01), Taiwan's Taiwan Weighted (down 0.27% at 8,842.47), South Korea's Seoul Composite (down 0.98% at 1,829.86) declined.
However, Singapore's Straits Times (up 0.13% at 3,175.89) and Shanghai Composite (up 0.73% at 3,683.70) advanced.
US markets rebounded from the early lows on Thursday, 8 May 2008, led by technology stocks. Retailers' monthly sales reports also helped ease concerns about an economic downturn.
The Dow Jones industrial average rose 52.43 points, or 0.41%, to 12,866.78. The Standard & Poor's 500 index gained 5.11 points, or 0.37%, to 1,397.68, and the Nasdaq Composite index advanced 12.75 points, or 0.52%, to 2,451.24.
Back home, the market succumbed to selling pressure for the forth straight session yesterday, 8 May 2008, as weak global equities and soaring crude oil prices worried investors. The 30-share BSE Sensex fell 258.66 points or 1.49% at 17,080.65 whereas the broader based S&P CNX Nifty slipped 53.8 points or 1.05% at 5081.70 on that day.
As per provisional data, foreign funds sold shares worth a net Rs 724.49 crore yesterday, 8 May 2008. Domestic funds bought shares worth a net Rs 609.51 crore on that day.
The spiralling inflation has been the biggest cause of concern for Indian equities market. The wholesale price index (WPI) in the week ended 19 April 2008 had galloped to a fresh three-and-a-half-year high of 7.57% from 7.33%. The WPI remained above the 7%-mark (significantly above RBI's revised target of 5.5% for the year) for the past four weeks.
The recent rally in crude oil may also continue to weigh on investor sentiment. Oil rallied to strike a fresh record to an all-peak of $124.61 a barrel, after settling up 16 cents at $123.69 yesterday, 9 May 2008 as strong diesel demand outweighed signs of rising OPEC supplies.
With results already declared from majority of the frontline corporates, the result season has almost come to an end. The near term trend is likely to be dictated by global cues.
Aggregate results of 1601 companies showed 17.90% rise in net profit on 22.60% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 29.50% rise in net profit on 23.30% rise in net sales in the year ended March 2008 over year ended March 2007.
Meanwhile in a meeting held yesterday, 8 May 2008, the Bank of England and the European Central Bank have both kept interest rates unchanged at 5% and 4% respectively, as expected. Most experts now predict that both central banks are likely to cut rates by the end of the year to shore up stumbling economies.
Asian markets were mixed today, 9 May 2008. Nikkei (down 0.91% at 13,815.68), Hong Kong's Hang Seng (down 0.16% at 25,409.01), Taiwan's Taiwan Weighted (down 0.27% at 8,842.47), South Korea's Seoul Composite (down 0.98% at 1,829.86) declined.
However, Singapore's Straits Times (up 0.13% at 3,175.89) and Shanghai Composite (up 0.73% at 3,683.70) advanced.
US markets rebounded from the early lows on Thursday, 8 May 2008, led by technology stocks. Retailers' monthly sales reports also helped ease concerns about an economic downturn.
The Dow Jones industrial average rose 52.43 points, or 0.41%, to 12,866.78. The Standard & Poor's 500 index gained 5.11 points, or 0.37%, to 1,397.68, and the Nasdaq Composite index advanced 12.75 points, or 0.52%, to 2,451.24.
Back home, the market succumbed to selling pressure for the forth straight session yesterday, 8 May 2008, as weak global equities and soaring crude oil prices worried investors. The 30-share BSE Sensex fell 258.66 points or 1.49% at 17,080.65 whereas the broader based S&P CNX Nifty slipped 53.8 points or 1.05% at 5081.70 on that day.
As per provisional data, foreign funds sold shares worth a net Rs 724.49 crore yesterday, 8 May 2008. Domestic funds bought shares worth a net Rs 609.51 crore on that day.
List of Book Closures and dates.
Company Name Start Date End Date Agenda
Goodyear 01-May-08 16-May-08 60% Dividend
Multifarious Tr 03-May-08 10-May-08 Annual Closure
Essel Propack 06-May-08 12-May-08 60% Dividend
IOB 07-May-08 13-May-08 32% Dividend
Shilp Gravures 10-May-08 17-May-08 21% Dividend
Reliance 10-May-08 17-May-08 130% Dividend
Temptation Food 12-May-08 19-May-08
Bosch 16-May-08 30-May-08 250% Dividend
Motilal Oswal F 16-May-08 31-May-08 80% Dividend
Elantas Beck 19-May-08 26-May-08 40% Dividend (AGM Revised)
White Diamond 19-May-08 24-May-08
BOC India 20-May-08 29-May-08 20% Dividend
Vishal Cotsp 21-May-08 22-May-08
Zuari Inds 22-May-08 29-May-08 Dividend
Ranbaxy Labs 23-May-08 30-May-08 120% Final Dividend
JSW Steel 23-May-08 27-May-08 140% Dividend
Deep Industries 23-May-08 30-May-08
Sulzer 24-May-08 07-Jun-08 100% Dividend
Indian Bank 24-May-08 26-May-08 30% Dividend
Sterling Bio 26-May-08 02-Jun-08 50% Dividend
Axis Bank 26-May-08 06-Jun-08 60% Dividend
Petronet LNG 26-May-08 04-Jun-08 15% Dividend
Nelcast 26-May-08 31-May-08 30% Dividend
Sudal Industrie 27-May-08 02-Jun-08 (Revised)
ABB 28-May-08 03-Jun-08 110% Dividend
Uni Legwears 29-May-08 31-May-08
SE Investments 29-May-08 03-Jun-08
Bharat Seats 29-May-08 04-Jun-08 25% Dividend
Hind Constr 30-May-08 13-Jun-08 80% Dividend
VTM 30-May-08 09-Jun-08 10% Dividend (Revised)
Stovec Ind 30-May-08 05-Jun-08 32% Dividend
Bank of Mah 31-May-08 09-Jun-08 20% Dividend
Allahabad Bank 31-May-08 16-Jun-08 30% Dividend
Infosys 31-May-08 14-Jun-08 545% Dividend (Final Dividend 145% + Special Dividend 400%)
Bata India 31-May-08 19-Jun-08 20% Dividend (Revised)
SBI 02-Jun-08 11-Jun-08 215% Dividend
Goodyear 01-May-08 16-May-08 60% Dividend
Multifarious Tr 03-May-08 10-May-08 Annual Closure
Essel Propack 06-May-08 12-May-08 60% Dividend
IOB 07-May-08 13-May-08 32% Dividend
Shilp Gravures 10-May-08 17-May-08 21% Dividend
Reliance 10-May-08 17-May-08 130% Dividend
Temptation Food 12-May-08 19-May-08
Bosch 16-May-08 30-May-08 250% Dividend
Motilal Oswal F 16-May-08 31-May-08 80% Dividend
Elantas Beck 19-May-08 26-May-08 40% Dividend (AGM Revised)
White Diamond 19-May-08 24-May-08
BOC India 20-May-08 29-May-08 20% Dividend
Vishal Cotsp 21-May-08 22-May-08
Zuari Inds 22-May-08 29-May-08 Dividend
Ranbaxy Labs 23-May-08 30-May-08 120% Final Dividend
JSW Steel 23-May-08 27-May-08 140% Dividend
Deep Industries 23-May-08 30-May-08
Sulzer 24-May-08 07-Jun-08 100% Dividend
Indian Bank 24-May-08 26-May-08 30% Dividend
Sterling Bio 26-May-08 02-Jun-08 50% Dividend
Axis Bank 26-May-08 06-Jun-08 60% Dividend
Petronet LNG 26-May-08 04-Jun-08 15% Dividend
Nelcast 26-May-08 31-May-08 30% Dividend
Sudal Industrie 27-May-08 02-Jun-08 (Revised)
ABB 28-May-08 03-Jun-08 110% Dividend
Uni Legwears 29-May-08 31-May-08
SE Investments 29-May-08 03-Jun-08
Bharat Seats 29-May-08 04-Jun-08 25% Dividend
Hind Constr 30-May-08 13-Jun-08 80% Dividend
VTM 30-May-08 09-Jun-08 10% Dividend (Revised)
Stovec Ind 30-May-08 05-Jun-08 32% Dividend
Bank of Mah 31-May-08 09-Jun-08 20% Dividend
Allahabad Bank 31-May-08 16-Jun-08 30% Dividend
Infosys 31-May-08 14-Jun-08 545% Dividend (Final Dividend 145% + Special Dividend 400%)
Bata India 31-May-08 19-Jun-08 20% Dividend (Revised)
SBI 02-Jun-08 11-Jun-08 215% Dividend
Results Today
Kotak Mahindra, Asian Paints, Apollo Tyres, Bharat Bijlee, Everonn Systems, Mahindra Forg, TIL, Su-Raj Diamonds, PTL Enterprises
Ashok Leyland Q4 net profit up at Rs 180.5 cr
Ashok Leyland has announced its fourth quarter results. The company's net profit was up at Rs 180.5 crore versus Rs 171 crore.
Its net sales were up at Rs 2562 crore versus Rs 2291 crore.
It operating profit is seen up 3% at Rs 270 crore versus Rs 262 crore,YoY.
Its net profit is expected to go down 4% at Rs 165 crore versus Rs 171 crore, YoY.
FY08
The company's FY08 sales are expected to go up 7% at Rs 7700 crore from Rs 7168 crore.
Its net profit is seen up 3% at Rs 456 crore from Rs 441 crore.
Its net sales were up at Rs 2562 crore versus Rs 2291 crore.
It operating profit is seen up 3% at Rs 270 crore versus Rs 262 crore,YoY.
Its net profit is expected to go down 4% at Rs 165 crore versus Rs 171 crore, YoY.
FY08
The company's FY08 sales are expected to go up 7% at Rs 7700 crore from Rs 7168 crore.
Its net profit is seen up 3% at Rs 456 crore from Rs 441 crore.
Hind Motors FY08 net profit at Rs 30.8 cr
Hindustan Motors has announced its FY08 numbers. It has reported net profit of Rs 30.8 crore and net sales of Rs 662 crore for FY08.
Asian market trading in red
Even though US closed in green, Asian markets slowly loosing ground
Nikkei 225 13,815.68 -127.58 -0.91%
Hang Seng 25,366.52 -83.27 -0.33%
Straits Times 3,174.13 +2.25 +0.07%
Nikkei 225 13,815.68 -127.58 -0.91%
Hang Seng 25,366.52 -83.27 -0.33%
Straits Times 3,174.13 +2.25 +0.07%
US closes in Green
Us market ended in green on thursday
Dow 12,866.78 +52.43 +0.41%
Nasdaq 2,451.24 +12.75 +0.52%
S&P 500 1,397.68 +5.11 +0.37%
Dow 12,866.78 +52.43 +0.41%
Nasdaq 2,451.24 +12.75 +0.52%
S&P 500 1,397.68 +5.11 +0.37%
Thursday, May 8, 2008
Post-Market Report dated May 08, 2008
Bearish global market trend triggered widespread selling in domestic indices, with the Sensex sliding sharply to close at 17,081.
Weak international market trend weighed on domestic indices. The Sensex dropped 259 points during intra-day trades and nearly slipped below 17,081 on relentless
selling pressure. Even as oil prices in the global markets preceded from their recent highs, investors across the globe tracked concerns of inflationary pressures in the US and hence dumped their respective indices. After resuming 126 points lower at 17,213, the Sensex languished in negative in the first half and plunged deep in red in noon trades to touch the day's low of 17,038 on selling in Bankex, IT and FMCG select heavyweights. The Sensex finally ended the session with losses of 259 points at 17,081, while the Nifty tumbled 54 points to close at 5,082.
The market breadth was weak. Of the 2,746 stocks traded on the BSE, 1,593 stocks declined, 1,102 stocks advanced and 51 stocks ended unchanged. Other than BSE Metal index, rest of the sectoral indices lost ground. BSE Bankex index dropped 2.90% at 8,755, BSE IT index shed 2.69% at 4,294 and BSE FMCG index was down 2.60% at 2,445.
Bankex stocks came under sharp hammering. KMFL shed 6.41% at Rs782.40, BoB fell 5.51% at Rs300.05, Axis Bank declined 4.83% at Rs863.35 and Bank of India was down nearly 4.38% at Rs324. Among the other Sensex losers, ITC dipped 5.24% at Rs215.05, Satyam Computer Services slipped 3.72% at Rs471.10, Infosys dropped 3.44% at Rs1,779.80, L&T slumped 3.36% at Rs2,886 and ICICI Bank shed 3% at Rs891.30. Tata Steel, however, rose 2.51% at Rs845.65, Bharti Airtel advanced 1.45% at Rs827.60 and ACC moved up 0.82% at Rs743.25.
IT stocks witnessed selling pressure. Mphasis declined 3.96% at Rs219.65, TCS lost 2.33% at Rs943.70, Tech Mahindra shed 2.11% at Rs932.15 and I-Flex slipped by 2.10% at Rs1,316.55.
Over 7.71 crore Aishwarya Tele shares changed hands on the BSE followed by IFCI (1.42 crore shares), Ispat Industries (1.14 crore shares), Kasyap (87.10 lakh shares) and RNRL (83.40 lakh shares).
Weak international market trend weighed on domestic indices. The Sensex dropped 259 points during intra-day trades and nearly slipped below 17,081 on relentless
selling pressure. Even as oil prices in the global markets preceded from their recent highs, investors across the globe tracked concerns of inflationary pressures in the US and hence dumped their respective indices. After resuming 126 points lower at 17,213, the Sensex languished in negative in the first half and plunged deep in red in noon trades to touch the day's low of 17,038 on selling in Bankex, IT and FMCG select heavyweights. The Sensex finally ended the session with losses of 259 points at 17,081, while the Nifty tumbled 54 points to close at 5,082.
The market breadth was weak. Of the 2,746 stocks traded on the BSE, 1,593 stocks declined, 1,102 stocks advanced and 51 stocks ended unchanged. Other than BSE Metal index, rest of the sectoral indices lost ground. BSE Bankex index dropped 2.90% at 8,755, BSE IT index shed 2.69% at 4,294 and BSE FMCG index was down 2.60% at 2,445.
Bankex stocks came under sharp hammering. KMFL shed 6.41% at Rs782.40, BoB fell 5.51% at Rs300.05, Axis Bank declined 4.83% at Rs863.35 and Bank of India was down nearly 4.38% at Rs324. Among the other Sensex losers, ITC dipped 5.24% at Rs215.05, Satyam Computer Services slipped 3.72% at Rs471.10, Infosys dropped 3.44% at Rs1,779.80, L&T slumped 3.36% at Rs2,886 and ICICI Bank shed 3% at Rs891.30. Tata Steel, however, rose 2.51% at Rs845.65, Bharti Airtel advanced 1.45% at Rs827.60 and ACC moved up 0.82% at Rs743.25.
IT stocks witnessed selling pressure. Mphasis declined 3.96% at Rs219.65, TCS lost 2.33% at Rs943.70, Tech Mahindra shed 2.11% at Rs932.15 and I-Flex slipped by 2.10% at Rs1,316.55.
Over 7.71 crore Aishwarya Tele shares changed hands on the BSE followed by IFCI (1.42 crore shares), Ispat Industries (1.14 crore shares), Kasyap (87.10 lakh shares) and RNRL (83.40 lakh shares).
Market loses further ground
Weakness prevailed in the early afternoon trade. All the sectoral indices on BSE were in the red, with IT and banking indices sliding sharply. The market breadth was poor.
Asian markets were trading mostly in red today, 8 May 2008. Key indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.32% to 1.71%. However, China’s Shanghai Composite was up 0.58%.
US markets suffered sharp losses on Wednesday, 7 May 2008, on worries about inflation and higher interest rates as oil jumped to a record. Financials stocks took a beating on concerns that new disclosure requirements for investment banks will limit their profits. The Dow Jones industrial average slumped 206.48 points, or 1.59%, to 12,814.35. The Nasdaq Composite index fell 44.82 points, or 1.80%, to 2,438.49. The S&P 500 shed 26 points at 1,393.
Oil prices for June 2008 delivery fell 6 cents to $123.47 a barrel in electronic trading on the New York Mercantile Exchange today, 8 May 2008, in Asia after jumping to a record of $123.93 a barrel yesterday, 7 May 2008.
At 12:20 IST, the 30-share BSE Sensex was down 267.53 points or 1.54% at 17,071.78. The index lost 301.28 points at day’s low of 17,038.03, hit in the early afternoon trade.
The broader based S&P CNX Nifty was down 67.9 points or 1.32% at 5067.60.
The market breadth was poor on BSE with 810 shares advancing as compared to 1644 stocks that declined. 56 stocks remained unchanged.
The BSE Mid-Cap index was down 1.07% at 7,124.33 and the BSE Small-Cap index was down 0.93% at 8,645.98.
Top Sensex losers were, Satyam Computer (down 3.82% at Rs 470.60), TCS (down 3.74% at Rs 930.05), Infosys Technologies (down 3.68% at Rs 1775.50) and ICICI Bank (down 3.47% at Rs 885.90).
Top Sensex gainers were, Reliance Communication (up 1.18% at Rs 546.65), Ranbaxy Laboratories (up 0.36% at Rs 468), and Tata Steel (up 0.30% at Rs 827.40).
Bharti Airtel staged a rebound today after sliding nearly 8% in past two sessions. India’s biggest listed cellular services provider by market share Bharti Airtel rose 1.07% at Rs 824.50. The stock had declined 8.73% to Rs 815.80 on Wednesday, 7 May 2008 from Rs 893.85 on Monday, 5 May 2008 on reports the firm may acquire 51% of South African telecommunications group MTN.
The BSE FMCG index was down 2.16% at 2,456.05. ITC (down 4.76% at Rs 216.15), United Breweries (down 3.97% at Rs 235.95), Dabur India (down 1.78% at Rs 104.55), and Hindustan Unilever (down 0.84% at Rs 249), slipped.
The BSE Capital Goods index was down 1.27% at 13,467.95. Jyoti Structures (down 3.11% at Rs 157.40), Kalpataru Power Transmission (down 2.79% at Rs 1040), Larsen & Toubro (down 2.53% at Rs 2,911), BEML (down 2.03% at Rs 1,114), Punj Lloyd (down 1.55% at Rs 348.95), Thermax (down 1.18% at Rs 491.95) and Bharat Heavy Electricals (down 0.91% at Rs 1,767.50), decline,
India's third largest listed cellular services provider by sales Idea Cellular rose 1.54% to Rs 105.50. The firm slashed its long-distance call rates and roaming charges. As per the new tariffs, subscriber trunk dialling (STD) call charges have been reduced to Rs 1.30 per minute effective from Friday, 9 May 2008.
Shree Cement dropped 1.69% to Rs 945. The firm posted 71.9% surge in net profit to Rs 41.07 crore on 71.9% increase in net sales to Rs 650.07 crore Q4 March 2008 over Q4 March 2007.
Mid-day Multimedia, which published tabloid, gained 1.50% to Rs 33.80. The firm reported net profit of Rs 0.23 crore in the Q4 March 2008 as compared to net loss of Rs 2.88 crore in Q4 March 2007. Sales declined 2.19% to Rs 27.24 crore in Q4 March 2008 over Q4 March 2007.
Asian markets were trading mostly in red today, 8 May 2008. Key indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.32% to 1.71%. However, China’s Shanghai Composite was up 0.58%.
US markets suffered sharp losses on Wednesday, 7 May 2008, on worries about inflation and higher interest rates as oil jumped to a record. Financials stocks took a beating on concerns that new disclosure requirements for investment banks will limit their profits. The Dow Jones industrial average slumped 206.48 points, or 1.59%, to 12,814.35. The Nasdaq Composite index fell 44.82 points, or 1.80%, to 2,438.49. The S&P 500 shed 26 points at 1,393.
Oil prices for June 2008 delivery fell 6 cents to $123.47 a barrel in electronic trading on the New York Mercantile Exchange today, 8 May 2008, in Asia after jumping to a record of $123.93 a barrel yesterday, 7 May 2008.
At 12:20 IST, the 30-share BSE Sensex was down 267.53 points or 1.54% at 17,071.78. The index lost 301.28 points at day’s low of 17,038.03, hit in the early afternoon trade.
The broader based S&P CNX Nifty was down 67.9 points or 1.32% at 5067.60.
The market breadth was poor on BSE with 810 shares advancing as compared to 1644 stocks that declined. 56 stocks remained unchanged.
The BSE Mid-Cap index was down 1.07% at 7,124.33 and the BSE Small-Cap index was down 0.93% at 8,645.98.
Top Sensex losers were, Satyam Computer (down 3.82% at Rs 470.60), TCS (down 3.74% at Rs 930.05), Infosys Technologies (down 3.68% at Rs 1775.50) and ICICI Bank (down 3.47% at Rs 885.90).
Top Sensex gainers were, Reliance Communication (up 1.18% at Rs 546.65), Ranbaxy Laboratories (up 0.36% at Rs 468), and Tata Steel (up 0.30% at Rs 827.40).
Bharti Airtel staged a rebound today after sliding nearly 8% in past two sessions. India’s biggest listed cellular services provider by market share Bharti Airtel rose 1.07% at Rs 824.50. The stock had declined 8.73% to Rs 815.80 on Wednesday, 7 May 2008 from Rs 893.85 on Monday, 5 May 2008 on reports the firm may acquire 51% of South African telecommunications group MTN.
The BSE FMCG index was down 2.16% at 2,456.05. ITC (down 4.76% at Rs 216.15), United Breweries (down 3.97% at Rs 235.95), Dabur India (down 1.78% at Rs 104.55), and Hindustan Unilever (down 0.84% at Rs 249), slipped.
The BSE Capital Goods index was down 1.27% at 13,467.95. Jyoti Structures (down 3.11% at Rs 157.40), Kalpataru Power Transmission (down 2.79% at Rs 1040), Larsen & Toubro (down 2.53% at Rs 2,911), BEML (down 2.03% at Rs 1,114), Punj Lloyd (down 1.55% at Rs 348.95), Thermax (down 1.18% at Rs 491.95) and Bharat Heavy Electricals (down 0.91% at Rs 1,767.50), decline,
India's third largest listed cellular services provider by sales Idea Cellular rose 1.54% to Rs 105.50. The firm slashed its long-distance call rates and roaming charges. As per the new tariffs, subscriber trunk dialling (STD) call charges have been reduced to Rs 1.30 per minute effective from Friday, 9 May 2008.
Shree Cement dropped 1.69% to Rs 945. The firm posted 71.9% surge in net profit to Rs 41.07 crore on 71.9% increase in net sales to Rs 650.07 crore Q4 March 2008 over Q4 March 2007.
Mid-day Multimedia, which published tabloid, gained 1.50% to Rs 33.80. The firm reported net profit of Rs 0.23 crore in the Q4 March 2008 as compared to net loss of Rs 2.88 crore in Q4 March 2007. Sales declined 2.19% to Rs 27.24 crore in Q4 March 2008 over Q4 March 2007.
IT, banking stocks drop in weak market
Across-the-board selling pressure dragged the key benchmark indices down further in the mid-morning trade. IT and banking stocks extended losses. Weakness in Asian markets and spiraling crude oil prices spoiled investor sentiments today.
Oil prices for June 2008 delivery fell 6 cents to $123.47 a barrel in electronic trading on the New York Mercantile Exchange today, 8 May 2008, in Asia after jumping to a record of $123.93 a barrel yesterday, 7 May 2008.
Asian markets were trading mostly in red today, 8 May 2008. Key indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.23% to 2.24%. However, China’s Shanghai Composite was up 0.06%.
US markets suffered sharp losses on Wednesday, 7 May 2008, on worries about inflation and higher interest rates as oil jumped to a record. Financials stocks took a beating on concerns that new disclosure requirements for investment banks will limit their profits. The Dow Jones industrial average slumped 206.48 points, or 1.59%, to 12,814.35. The Nasdaq Composite index fell 44.82 points, or 1.80%, to 2,438.49. The S&P 500 shed 26 points at 1,393.
At 11:20 IST, the 30-share BSE Sensex was down 234.67 points or 1.35% at 17,104.64. The index lost 288.48 points at day’s low of17,050.83, hit in mid-morning trade.
The broader based S&P CNX Nifty was down 51.75 points or 1.01% at 5083.75.
The market breadth was poor on BSE with 710 shares advancing as compared to 1537 stocks that declined. 57 stocks remained unchanged.
The BSE Mid-Cap index was down 0.80% at 7,144.12 and the BSE Small-Cap index was down 0.85% at 8,652.62.
The BSE IT index was down 3.86% at 4,242.75. Satyam Computer (down 4.76% at Rs 466), TCS (down 4.48% at Rs 922.95), Infosys Technologies (down 4.11% at Rs 1,767.50), Wipro (down 3.74% at Rs 480.50), and HCL Technologies (down 1.77% at Rs 288.20), tumbled.
The BSE Bankex was down 2.38% at 8,802.14. Bank of India (down 3.72% at Rs 326.25), Kotak Mahindra Bank (down 2.63% at Rs 814), HDFC Bank (down 2.54% at Rs 1,503.75), Bank of Baroda (down 2.38% at Rs 310), Axis Bank (down 1.79% at Rs 890.90) and State Bank of India (down 1.31% at Rs 1,745), slipped.
India's largest private sector bank by assets ICICI Bank fell 2.74% at Rs 893.70.
The BSE Oil & Gas index was down 0.64% at 11,648.43. Reliance Natural Resources (down 2.84% at Rs 114.45), Indian Oil Corporation (down 2.21% at Rs 449), BPCL (down 1.79% at Rs 376), GAIL India (down 1.69% at Rs 428.10), HPCL (down 1.11% at Rs 241.35) and ONGC (0.64% at Rs 1,033), declined.
India's biggest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.27% at Rs 2,675.10.
Steel makers declined after they agreed 5-10% price reductions on Wednesday, 7 May 2008, following government pressure to cut prices. Steel Authority of India (down 2.54% at Rs 169.15), Jindal Steel & Power (down 2.18% at Rs 2227), Jindal Stainless (down 1.18% at Rs 146), JSW Steel (down 0.13% at Rs 876.10), Bhushan Steel (down 0.28% at Rs 780.50), and Uttam Galva (down 2.25% at Rs 39.15), , slipped.
India's largest steel maker by output Tata Steel rose 0.37% at Rs 827.80 after the firm said it raised Rs 2000 crore, including a greenshoe option, through a private placement of bonds.
Oil refiner Mangalore Refinery And Petrochemicals fell 3.85% to Rs 98.70. The firm reported 23.9% rise in net profit to Rs 225.34 crore on 40.7% increase in net sales to Rs 9465.13 crore in Q4 March 2008 over Q4 March 2007.
Tata Communications rose 3.78% to Rs 506 on reports the government is planning to divest its residual 26.12% stake in the company
Oil prices for June 2008 delivery fell 6 cents to $123.47 a barrel in electronic trading on the New York Mercantile Exchange today, 8 May 2008, in Asia after jumping to a record of $123.93 a barrel yesterday, 7 May 2008.
Asian markets were trading mostly in red today, 8 May 2008. Key indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.23% to 2.24%. However, China’s Shanghai Composite was up 0.06%.
US markets suffered sharp losses on Wednesday, 7 May 2008, on worries about inflation and higher interest rates as oil jumped to a record. Financials stocks took a beating on concerns that new disclosure requirements for investment banks will limit their profits. The Dow Jones industrial average slumped 206.48 points, or 1.59%, to 12,814.35. The Nasdaq Composite index fell 44.82 points, or 1.80%, to 2,438.49. The S&P 500 shed 26 points at 1,393.
At 11:20 IST, the 30-share BSE Sensex was down 234.67 points or 1.35% at 17,104.64. The index lost 288.48 points at day’s low of17,050.83, hit in mid-morning trade.
The broader based S&P CNX Nifty was down 51.75 points or 1.01% at 5083.75.
The market breadth was poor on BSE with 710 shares advancing as compared to 1537 stocks that declined. 57 stocks remained unchanged.
The BSE Mid-Cap index was down 0.80% at 7,144.12 and the BSE Small-Cap index was down 0.85% at 8,652.62.
The BSE IT index was down 3.86% at 4,242.75. Satyam Computer (down 4.76% at Rs 466), TCS (down 4.48% at Rs 922.95), Infosys Technologies (down 4.11% at Rs 1,767.50), Wipro (down 3.74% at Rs 480.50), and HCL Technologies (down 1.77% at Rs 288.20), tumbled.
The BSE Bankex was down 2.38% at 8,802.14. Bank of India (down 3.72% at Rs 326.25), Kotak Mahindra Bank (down 2.63% at Rs 814), HDFC Bank (down 2.54% at Rs 1,503.75), Bank of Baroda (down 2.38% at Rs 310), Axis Bank (down 1.79% at Rs 890.90) and State Bank of India (down 1.31% at Rs 1,745), slipped.
India's largest private sector bank by assets ICICI Bank fell 2.74% at Rs 893.70.
The BSE Oil & Gas index was down 0.64% at 11,648.43. Reliance Natural Resources (down 2.84% at Rs 114.45), Indian Oil Corporation (down 2.21% at Rs 449), BPCL (down 1.79% at Rs 376), GAIL India (down 1.69% at Rs 428.10), HPCL (down 1.11% at Rs 241.35) and ONGC (0.64% at Rs 1,033), declined.
India's biggest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.27% at Rs 2,675.10.
Steel makers declined after they agreed 5-10% price reductions on Wednesday, 7 May 2008, following government pressure to cut prices. Steel Authority of India (down 2.54% at Rs 169.15), Jindal Steel & Power (down 2.18% at Rs 2227), Jindal Stainless (down 1.18% at Rs 146), JSW Steel (down 0.13% at Rs 876.10), Bhushan Steel (down 0.28% at Rs 780.50), and Uttam Galva (down 2.25% at Rs 39.15), , slipped.
India's largest steel maker by output Tata Steel rose 0.37% at Rs 827.80 after the firm said it raised Rs 2000 crore, including a greenshoe option, through a private placement of bonds.
Oil refiner Mangalore Refinery And Petrochemicals fell 3.85% to Rs 98.70. The firm reported 23.9% rise in net profit to Rs 225.34 crore on 40.7% increase in net sales to Rs 9465.13 crore in Q4 March 2008 over Q4 March 2007.
Tata Communications rose 3.78% to Rs 506 on reports the government is planning to divest its residual 26.12% stake in the company
Shree Cements' Q4 PAT at Rs 41 cr
Shree Cements has declared its results for the quarter ended March 2008 (Q4). The company's net sales were up at Rs 650 crore versus Rs 378 crore on YoY basis.
The company reported PAT at Rs 41 crore versus Rs 24.50 crore on YoY basis. The adjusted PAT stood at Rs 41 crore versus Rs 40 crore on YoY basis. Its OPM were at 39% versus 45.3% on YoY basis.
The company's FY08 EPS was at Rs 74.
The company is evaluating setting up of capacity in Madhya Pradesh. The company is also considering a manufacturing presence in foreign markets.
Q4 highlights
Sales up in line with expectations
OPM has come slightly lower, possibly on account of higher pet coke prices
Higher realizations mitigated by higher cost (energy and freight)
PAT way below estimates on account of higher depreciation (Depreciation as a % of PBDT is 76%)
The company reported PAT at Rs 41 crore versus Rs 24.50 crore on YoY basis. The adjusted PAT stood at Rs 41 crore versus Rs 40 crore on YoY basis. Its OPM were at 39% versus 45.3% on YoY basis.
The company's FY08 EPS was at Rs 74.
The company is evaluating setting up of capacity in Madhya Pradesh. The company is also considering a manufacturing presence in foreign markets.
Q4 highlights
Sales up in line with expectations
OPM has come slightly lower, possibly on account of higher pet coke prices
Higher realizations mitigated by higher cost (energy and freight)
PAT way below estimates on account of higher depreciation (Depreciation as a % of PBDT is 76%)
markets knocked down
The markets have knocked down and are trading sharply lower as technology, realty, banking, capital goods, metal, and auto stocks witnessing selling pressure. Midcap and small cap stocks are also trading lower. Market breadth is negative; 235:869. On the global front, Asian markets are still trading in red.
At 10:20 am, the Sensex was down 212 points at 17,122 and the Nifty down 56 points at 5,078. Midcap and small Indices were down over 0.75%.
Infosys, Wipro, Satyam and Unitech were top losers while top gainers - Reliance Comm, ACC, Ambuja Cements, Tata Comm, Tata Steel and Idea Cellular.
Aishwarya Telecom, Cairn India, Bharti Airtel, Reliance Industries and Infosys were most active shares on the bourses.
Market breadh is negative, about 1055 shares have advanced, 1825 shares declined, and 206 shares are unchanged.
Technology stocks have underperformed the markets, BSE IT Index slipped over 2.9%. Realty and Bankex were down over 1.9%.
FMCG, Capital Goods and Power indices fell over 1.5%. Oil & Gas, Metal, Healthcare and Auto also slipped over 0.5%.
The Indian rupee has been depreciating as against US dollar, currently trading at 41.67 per dollar
At 10:20 am, the Sensex was down 212 points at 17,122 and the Nifty down 56 points at 5,078. Midcap and small Indices were down over 0.75%.
Infosys, Wipro, Satyam and Unitech were top losers while top gainers - Reliance Comm, ACC, Ambuja Cements, Tata Comm, Tata Steel and Idea Cellular.
Aishwarya Telecom, Cairn India, Bharti Airtel, Reliance Industries and Infosys were most active shares on the bourses.
Market breadh is negative, about 1055 shares have advanced, 1825 shares declined, and 206 shares are unchanged.
Technology stocks have underperformed the markets, BSE IT Index slipped over 2.9%. Realty and Bankex were down over 1.9%.
FMCG, Capital Goods and Power indices fell over 1.5%. Oil & Gas, Metal, Healthcare and Auto also slipped over 0.5%.
The Indian rupee has been depreciating as against US dollar, currently trading at 41.67 per dollar
Mkts open lower on weak global cues
The markets have opened lower on the back of weak global cues and selling pressure in banking, technology, realty, telecom, capital goods, power and oil marketing stocks. Midcap and small cap stocks are also trading lower.
At 9:56 am, the Sensex was down 228 points at 17,111 and the Nifty down 58 points at 5076.
Sail, ICICI Bank, Idea, Reliance Comm, Infosys, Bharti Airtel, SBI, Unitech and HDFC Bank were losers in early trade.
At 9:56 am, the Sensex was down 228 points at 17,111 and the Nifty down 58 points at 5076.
Sail, ICICI Bank, Idea, Reliance Comm, Infosys, Bharti Airtel, SBI, Unitech and HDFC Bank were losers in early trade.
Results Today:
Ashok Leyland, Birla Corp, Electrotherm, GIC Housing Finance, Hindustan Motors, JB Chemicals and Voltamp Transformers
Pre Market Report 08/05/2008
Local market are braced for weak start tracking negative global cues. Also the impact of spiralling crude oil prices, which struck a fresh record just under $124 a barrel yesterday, 7 May 2008, on inflation will continue to weigh on investor sentiment.
Oil prices for June delivery fell 6 cents to US$123.47 a barrel in electronic trading on the New York Mercantile Exchange today, 8 May 2008, in Asia after jumping to a record of $123.93 a barrel yesterday, 7 May 2008.
With results already declared from majority of the frontline corporates, the result season has almost come to an end. The near term trend is likely to be dictated by global cues.
Aggregate results of 1564 companies showed 18.30% rise in net profit on 22.60% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 29.60% rise in net profit on 23.40% rise in net sales in the year ended March 2008 over year ended March 2007.
Asian markets were trading lower today, 8 May 2008, as financial stocks slipped. Shanghai Composite (down 0.05% at 3,577.35), Hang Seng (down 0.23% at 25,550.72), Japan's Nikkei 225 average (down 0.88% at 13,978.94), Straits Times (down 1.35% at 3,185.36), Taiwan Weighted (down 0.55% at 8,876.97) and Seoul Composite (down 0.02% at 1,852.97) declined.
US markets suffered sharp losses yesterday, 7 May 2008, led by financials and spiraling crude prices. Financials stocks took a beating on concerns that new disclosure requirements for investment banks will limit their profits. The Dow Jones industrial average lost 206.48 points to 12,814. While the Nasdaq Composite index lost 45 points at 2,438. The S&P 500 shed 26 points at 1,393.
Back home, the 30-share BSE Sensex fell 33.70 points or 0.19% at 17,339.31 and the broader based S&P CNX Nifty slipped 9.15 points or 0.18% at 5135.50, yesterday 7 May 2008.
As per provisional data, foreign funds bought shares worth a net Rs 88.30 crore yesterday, 7 May 2008. Domestic funds bought shares worth a net Rs 234.83 crore on that day.
Foreign institutional investors (FIIs) were net sellers of Rs 232.94 crore in the futures & options segment yesterday 7 May 2008. They were net sellers of index futures to the tune of Rs 156.68 crore and bought index options worth Rs 48.59 crore. They were net sellers of stock futures to the tune of Rs 170.83 crore and bought stock options worth Rs 45.98 crore.
Oil prices for June delivery fell 6 cents to US$123.47 a barrel in electronic trading on the New York Mercantile Exchange today, 8 May 2008, in Asia after jumping to a record of $123.93 a barrel yesterday, 7 May 2008.
With results already declared from majority of the frontline corporates, the result season has almost come to an end. The near term trend is likely to be dictated by global cues.
Aggregate results of 1564 companies showed 18.30% rise in net profit on 22.60% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 29.60% rise in net profit on 23.40% rise in net sales in the year ended March 2008 over year ended March 2007.
Asian markets were trading lower today, 8 May 2008, as financial stocks slipped. Shanghai Composite (down 0.05% at 3,577.35), Hang Seng (down 0.23% at 25,550.72), Japan's Nikkei 225 average (down 0.88% at 13,978.94), Straits Times (down 1.35% at 3,185.36), Taiwan Weighted (down 0.55% at 8,876.97) and Seoul Composite (down 0.02% at 1,852.97) declined.
US markets suffered sharp losses yesterday, 7 May 2008, led by financials and spiraling crude prices. Financials stocks took a beating on concerns that new disclosure requirements for investment banks will limit their profits. The Dow Jones industrial average lost 206.48 points to 12,814. While the Nasdaq Composite index lost 45 points at 2,438. The S&P 500 shed 26 points at 1,393.
Back home, the 30-share BSE Sensex fell 33.70 points or 0.19% at 17,339.31 and the broader based S&P CNX Nifty slipped 9.15 points or 0.18% at 5135.50, yesterday 7 May 2008.
As per provisional data, foreign funds bought shares worth a net Rs 88.30 crore yesterday, 7 May 2008. Domestic funds bought shares worth a net Rs 234.83 crore on that day.
Foreign institutional investors (FIIs) were net sellers of Rs 232.94 crore in the futures & options segment yesterday 7 May 2008. They were net sellers of index futures to the tune of Rs 156.68 crore and bought index options worth Rs 48.59 crore. They were net sellers of stock futures to the tune of Rs 170.83 crore and bought stock options worth Rs 45.98 crore.
Market Tips
Since market will open Gap down and trend is negative dont buy initially.. Buy Tips will be given after some consolidations happens..
Sell RPOWER below 410 target 408/406/402
Sell RPL below 199 target 197/195
Sell RCOM below 540 traget 536/532
Sell RPOWER below 410 target 408/406/402
Sell RPL below 199 target 197/195
Sell RCOM below 540 traget 536/532
Market View
Today market will open gap down. NSE will open nearly 50 points down
Nifty:(5136) resistance to the up move at 5220-5245.
Crucial Support :5109-5069
Nifty:(5136) resistance to the up move at 5220-5245.
Crucial Support :5109-5069
Asian amrket trade between 1 to 2% down
Asain markets @9.20AM
Nikkei 225 13,978.94 -123.54 -0.88%
Hang Seng 25,439.47 -170.74 -0.67%
Straits Times 3,163.94 -65.01 -2.01%
Nikkei 225 13,978.94 -123.54 -0.88%
Hang Seng 25,439.47 -170.74 -0.67%
Straits Times 3,163.94 -65.01 -2.01%
US closed down
US Market Cracked after oil price surged and closed more than 1.5% down
Dow 12,814.35 -206.48 -1.59%
Nasdaq 2,438.49 -44.82 -1.80%
S&P 500 1,392.57 -25.69 -1.81%
Dow 12,814.35 -206.48 -1.59%
Nasdaq 2,438.49 -44.82 -1.80%
S&P 500 1,392.57 -25.69 -1.81%
Wednesday, May 7, 2008
MRPL FY08 standalone net profit at Rs 1272.2 cr
MRPL has announced its FY08 results. The company's FY08 standalone net profit was at Rs 1272.2 crore versus Rs 525.5 crore, YoY.
Its standalone net sales at Rs 32575.1 crore versus Rs 28633.1 crore, YoY.
Q4FY08
The company's standalone net sales was up at Rs 9,500.1 crore from Rs 6,797.9 crore, YoY.
Its standalone net profit was up at Rs 225.3 crore from Rs 181.9 crore, YoY.
Its standalone net sales at Rs 32575.1 crore versus Rs 28633.1 crore, YoY.
Q4FY08
The company's standalone net sales was up at Rs 9,500.1 crore from Rs 6,797.9 crore, YoY.
Its standalone net profit was up at Rs 225.3 crore from Rs 181.9 crore, YoY.
Stocks decline as oil prices creep higher
Dow 12,963.67 -57.16 -0.44%
Nasdaq 2,478.20 -5.11 -0.21%
S&P 500 1,411.54 -6.72 -0.47%
Nasdaq 2,478.20 -5.11 -0.21%
S&P 500 1,411.54 -6.72 -0.47%
Post market report 07.05.2008
The key indices ended in the negative territory. Weakness in Asian markets and a surge in crude oil prices spoiled the investor sentiments today. IT and oil & gas stocks were the front-runners. Capital goods stocks and shares of PSU firms suffered the most.
European markets, which open after Indian markets, were trading higher. In Europe, key indices in UK, France and Germany were up 0.64% to 0.88%.
Asian markets were trading lower today, 7 May 2008. Key indices in China, Hong Kong, Japan, Singapore and South Korea were down by 0.27% to 4.13%. However, Taiwan’s Taiwan Weighted Index was up 0.78%.
US crude was steady at $121.79 a barrel, just off a record high at $122.73 in New York with prices doubling in the past year. Foreign brokerage house Goldman Sachs, which had predicted that oil would hit $100 a barrel now forecasts a potential spike to $200 a barrel.
As per provisional closing, the 30-share BSE Sensex fell 31.86 points or 0.18% at 17,341.15. The index lost 143.03 points at day’s low of 17,229.98, hit in the afternoon trade. Sensex gained 40.80 points at day’s high of 17,413.81, hit in the early afternooon.
The broader based S&P CNX Nifty was down 8.15 points or 0.16% at 5136.50.
The market breadth was weak on BSE with 1170 shares advancing as compared to 1522 stocks that declined. 69 stocks remained unchanged.
The BSE Mid-Cap index fell 0.27% to 7,210.89 and BSE Small-Cap index fell 0.26% to 8,726.51.
Top Sensex gainers were, TCS (up 2.63% at Rs 963.85), Mahindra & Mahindra (up 1.73% at Rs 675.50), Tata Steel (up 1.64% at Rs 829.80), Infosys Technologies (up 1.30% at Rs 1843), Hindustan Unilever (up 1.13% at Rs 251) and Jaiprakash Associates (up 1.10% at Rs 274.90).
Top Sensex losers were, Bharat Heavy Electricals (down 4.49% at Rs 4.49% at Rs 1777), Bharti Airtel (down 3.39% at Rs 817.90), DLF (down 2.39% at Rs 652), Larsen & Toubro (down 2.32% at Rs 2981.55), Satyam Computer (down 1.82% at Rs 489) and Ranbaxy Laboratories (down 1.64% at Rs 467.15).
Plastic materials maker Uflex jumped 1.60% to Rs 149.55 after posting 60.6% surge in net profit to Rs 24.84 crore on 13.9% rise in net sales to Rs 362.42 crore in Q4 March 2008 over Q4 March 2007.
Information technology firm Mastek soared 8.58% to Rs 369 on reports that the company is betting on transport and healthcare sectors for fuelling its future revenue.
Marine transportation services provider Mercator Lines vaulted 3.91% to Rs 107.75 after its wholly owned subsidiary Mercator Lines (Singapore) reported three-fold jump in net profit to $52.2 million in the year ended March 2008 over the year ended March 2007.
Ethanol maker Dollex Industries was locked at upper limit of 5% at Rs 43.45 on setting 20 May 2008 as the record date for a 2-for-1 stock split.
Apparel maker and exporter Gokaldas Exports surged 14.30% at Rs 237 on reports that major stakeholder Blackstone Group was considering delisting the company this year.
Film maker Pritish Nandy Communications was locked at upper limit of 10% at Rs 64.20 after it said on Tuesday, 6 May 2008 it has signed a three-film deal with US-based Sony Pictures.
Ethanol maker Praj Industries gained 1.69% to Rs 198.60 after the company reported 77.44% surge in net profit to Rs 153.54 crore on 20.10% increase in total income to Rs 740.31 crore in the year ended March 2008 over the year ended March 2007.
European markets, which open after Indian markets, were trading higher. In Europe, key indices in UK, France and Germany were up 0.64% to 0.88%.
Asian markets were trading lower today, 7 May 2008. Key indices in China, Hong Kong, Japan, Singapore and South Korea were down by 0.27% to 4.13%. However, Taiwan’s Taiwan Weighted Index was up 0.78%.
US crude was steady at $121.79 a barrel, just off a record high at $122.73 in New York with prices doubling in the past year. Foreign brokerage house Goldman Sachs, which had predicted that oil would hit $100 a barrel now forecasts a potential spike to $200 a barrel.
As per provisional closing, the 30-share BSE Sensex fell 31.86 points or 0.18% at 17,341.15. The index lost 143.03 points at day’s low of 17,229.98, hit in the afternoon trade. Sensex gained 40.80 points at day’s high of 17,413.81, hit in the early afternooon.
The broader based S&P CNX Nifty was down 8.15 points or 0.16% at 5136.50.
The market breadth was weak on BSE with 1170 shares advancing as compared to 1522 stocks that declined. 69 stocks remained unchanged.
The BSE Mid-Cap index fell 0.27% to 7,210.89 and BSE Small-Cap index fell 0.26% to 8,726.51.
Top Sensex gainers were, TCS (up 2.63% at Rs 963.85), Mahindra & Mahindra (up 1.73% at Rs 675.50), Tata Steel (up 1.64% at Rs 829.80), Infosys Technologies (up 1.30% at Rs 1843), Hindustan Unilever (up 1.13% at Rs 251) and Jaiprakash Associates (up 1.10% at Rs 274.90).
Top Sensex losers were, Bharat Heavy Electricals (down 4.49% at Rs 4.49% at Rs 1777), Bharti Airtel (down 3.39% at Rs 817.90), DLF (down 2.39% at Rs 652), Larsen & Toubro (down 2.32% at Rs 2981.55), Satyam Computer (down 1.82% at Rs 489) and Ranbaxy Laboratories (down 1.64% at Rs 467.15).
Plastic materials maker Uflex jumped 1.60% to Rs 149.55 after posting 60.6% surge in net profit to Rs 24.84 crore on 13.9% rise in net sales to Rs 362.42 crore in Q4 March 2008 over Q4 March 2007.
Information technology firm Mastek soared 8.58% to Rs 369 on reports that the company is betting on transport and healthcare sectors for fuelling its future revenue.
Marine transportation services provider Mercator Lines vaulted 3.91% to Rs 107.75 after its wholly owned subsidiary Mercator Lines (Singapore) reported three-fold jump in net profit to $52.2 million in the year ended March 2008 over the year ended March 2007.
Ethanol maker Dollex Industries was locked at upper limit of 5% at Rs 43.45 on setting 20 May 2008 as the record date for a 2-for-1 stock split.
Apparel maker and exporter Gokaldas Exports surged 14.30% at Rs 237 on reports that major stakeholder Blackstone Group was considering delisting the company this year.
Film maker Pritish Nandy Communications was locked at upper limit of 10% at Rs 64.20 after it said on Tuesday, 6 May 2008 it has signed a three-film deal with US-based Sony Pictures.
Ethanol maker Praj Industries gained 1.69% to Rs 198.60 after the company reported 77.44% surge in net profit to Rs 153.54 crore on 20.10% increase in total income to Rs 740.31 crore in the year ended March 2008 over the year ended March 2007.
Stock tips for 07.05.2008
Today Nifty to open 40-50 points up
Buy Chambal Fertilizers & Chemicals Ltd for a target 74/75/76.2
Buy RPL for target 202/203/208
Buy RNRL for target 120/122/125
Buy Petronet for a target 81/81.5/82.15
Buy MRPL target 105/106/108
Buy Chambal Fertilizers & Chemicals Ltd for a target 74/75/76.2
Buy RPL for target 202/203/208
Buy RNRL for target 120/122/125
Buy Petronet for a target 81/81.5/82.15
Buy MRPL target 105/106/108
Asian Markets Opens in Green
Asian markets Also in green after US closed in green
Nikkei 225 14,182.02 +132.76 +0.94%
Hang Seng 26,316.23 +54.10 +0.21%
Straits Times 3,251.48 +2.73 +0.08%
Nikkei 225 14,182.02 +132.76 +0.94%
Hang Seng 26,316.23 +54.10 +0.21%
Straits Times 3,251.48 +2.73 +0.08%
US markets Recover and Close on day's high
After a weak opening US markets recovers back to green and ends at days high
Dow 13,020.83 +51.29 +0.40%
Nasdaq 2,483.31 +19.19 +0.78%
S&P 500 1,418.26 +10.77 +0.77%
Dow 13,020.83 +51.29 +0.40%
Nasdaq 2,483.31 +19.19 +0.78%
S&P 500 1,418.26 +10.77 +0.77%
Tuesday, May 6, 2008
Post Market Report 06.05.2008
The key benchmark indices ended lower as investors resorted to profit booking due to lack of positive triggers in the market. Selling pressure was seen in mid-caps and small-caps counters with their barometers underperforming the Sensex.
Realty and power stocks were the worst hit, whereas FMCG and metal stocks were on the positive side. IT pivotals recovered at the fag end of the session after rupee slipped to eight-month low against the dollar.
European markets, which were mostly positive in early trade, slipped later led by Swiss bank UBS after it unveiled big job cuts. Key indices in Germany, France and UK were down 0.16% to 0.42%. UBS said it will slash 5,500 jobs or almost 7% of its workforce, and has a preliminary deal with US asset manager BlackRock Inc to sell a $15 billion portfolio of subprime mortgages. It also reported a sharp slowdown in new money entrusted to it by wealthy clients.
In contrast, most of the Asian markets recovered after trading negative in early trades. Key indices in Singapore, South Korea, Hong Kong and Taiwan were up 0.23% to 0.58%. However, China's Shanghai Composite was down 0.73%. Japanese markets are closed today on account of holiday.
As per provisional closing, the 30-share BSE Sensex fell 103.70 points or 0.59% at 17,387.20. The index lost 253.22 points at day’s low of 17,237.68, hit in mid-afternoon trade. Sensex gained 11.25 points at day’s high of 17,502.15, hit at the onset of trading session.
The broader based S&P CNX Nifty fell 38.9 points or 0.75% at 5153.35.
The market breadth was negative on BSE with 984 shares advancing as compared to 1699 stocks that declined. 69 stocks remained unchanged.
The BSE Mid-Cap index fell 0.83% to 7,238.80 and BSE Small-Cap index fell 0.91% to 8,764.48. Both the indices underperformed the Sensex.
BSE clocked a turnover of Rs 6691 crore as against Rs 6,393.68 on Monday, 5 May 2008.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.53% at Rs 2651.50.
India’s top listed cellular service provider by market share Bharti Airtel slipped 5.35% to Rs 846. Bharti Airtel has reportedly bid for 51% of South African telecommunications group MTN. According to reports, Bharti had tabled a bid for MTN at 165 rand per share and had secured $12 billion from banks to finance the deal, which would make Bharti a top player in emerging markets telecoms.
Top Sensex gainers were, ITC (up 1.97% at Rs 225.05), TCS (up 1.45% at Rs 938), Tata Steel (up 1.66% at Rs 815.90), Satyam Computer (up 2.36% at Rs 499), Wipro (up 1.53% at Rs 497.60), Infosys Technologies (up 1.44% at Rs 1810) and HDFC Bank (up 0.66% at Rs 1539.30).
Top Sensex losers were, Reliance Infrastructure (down 5.07% at Rs 1440), DLF (4.69% at Rs 672), Jaiprakash Associates (down 4.90% at Rs 272.60), Mahindra & Mahindra (down 1.55% at Rs 667), Maruti Suzuki (down 1.96% at Rs 769.05) and Larsen & Toubro (down 2.30% at Rs 3061.10).
Oil refiner Cairn India rose 2.14% to Rs 260.30 after the Goldman Sachs Group Inc raised its estimate on the stocks by 14% to Rs 325 a share.
PVC pipes maker Finolex Industries soared 6.59% to Rs 76.85 on repors the firm has decided to sell off its plot at Chinchwad near Pune. It is close to signing a deal with a US-based developer to sell the land for between Rs 350 crore and Rs 400 crore.
Dairy products maker Anik Industries was locked at upper limit of 5% to Rs 57.75 after posting 76.4% surge in net profit to Rs 8.96 crore on 58.1% increase in total income to Rs 333.27 crore in Q4 March 2008 over Q4 March 2007.
State-run lender UCO Bank jumped 1.69% to Rs 51.05 on reports the bank would raise Rs 325 crore through an equity issue in June 2008, and convert government equity worth Rs 300 crore into preference shares. The stock touched a high of Rs 54.20 earlier in the session.
Civil construction firm Patel Engineering rose 2.22% to Rs 609 after its unit's joint venture in the United States received a dam reconstruction contract worth $280 million. The stock had earlier touched a high of Rs 632.
Textiles manufacturer Mohit Industries spurted 10% to Rs 24 after posting 180.13% surge in net profit to Rs 0.42 crore on 1.93% fall in total income to Rs 29.71 crore in Q4 March 2008 over Q4 March 2007.
Steel maker JSW Steel fell 2.08% to Rs 880 on reports the firm will moderate any price hike this year and raise capacity to offset pressure on margins.
Polyester filament yarn maker Century Enka plunged 5.30% to Rs 121.50 after the company reported net loss of Rs 0.89 crore in Q4 March 2008 as compared to net profit of Rs 1.38 crore in Q4 March 2007. Total income rose 31.50% to Rs 326 crore in Q4 March 2008 over Q4 March 2007.
Realty and power stocks were the worst hit, whereas FMCG and metal stocks were on the positive side. IT pivotals recovered at the fag end of the session after rupee slipped to eight-month low against the dollar.
European markets, which were mostly positive in early trade, slipped later led by Swiss bank UBS after it unveiled big job cuts. Key indices in Germany, France and UK were down 0.16% to 0.42%. UBS said it will slash 5,500 jobs or almost 7% of its workforce, and has a preliminary deal with US asset manager BlackRock Inc to sell a $15 billion portfolio of subprime mortgages. It also reported a sharp slowdown in new money entrusted to it by wealthy clients.
In contrast, most of the Asian markets recovered after trading negative in early trades. Key indices in Singapore, South Korea, Hong Kong and Taiwan were up 0.23% to 0.58%. However, China's Shanghai Composite was down 0.73%. Japanese markets are closed today on account of holiday.
As per provisional closing, the 30-share BSE Sensex fell 103.70 points or 0.59% at 17,387.20. The index lost 253.22 points at day’s low of 17,237.68, hit in mid-afternoon trade. Sensex gained 11.25 points at day’s high of 17,502.15, hit at the onset of trading session.
The broader based S&P CNX Nifty fell 38.9 points or 0.75% at 5153.35.
The market breadth was negative on BSE with 984 shares advancing as compared to 1699 stocks that declined. 69 stocks remained unchanged.
The BSE Mid-Cap index fell 0.83% to 7,238.80 and BSE Small-Cap index fell 0.91% to 8,764.48. Both the indices underperformed the Sensex.
BSE clocked a turnover of Rs 6691 crore as against Rs 6,393.68 on Monday, 5 May 2008.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.53% at Rs 2651.50.
India’s top listed cellular service provider by market share Bharti Airtel slipped 5.35% to Rs 846. Bharti Airtel has reportedly bid for 51% of South African telecommunications group MTN. According to reports, Bharti had tabled a bid for MTN at 165 rand per share and had secured $12 billion from banks to finance the deal, which would make Bharti a top player in emerging markets telecoms.
Top Sensex gainers were, ITC (up 1.97% at Rs 225.05), TCS (up 1.45% at Rs 938), Tata Steel (up 1.66% at Rs 815.90), Satyam Computer (up 2.36% at Rs 499), Wipro (up 1.53% at Rs 497.60), Infosys Technologies (up 1.44% at Rs 1810) and HDFC Bank (up 0.66% at Rs 1539.30).
Top Sensex losers were, Reliance Infrastructure (down 5.07% at Rs 1440), DLF (4.69% at Rs 672), Jaiprakash Associates (down 4.90% at Rs 272.60), Mahindra & Mahindra (down 1.55% at Rs 667), Maruti Suzuki (down 1.96% at Rs 769.05) and Larsen & Toubro (down 2.30% at Rs 3061.10).
Oil refiner Cairn India rose 2.14% to Rs 260.30 after the Goldman Sachs Group Inc raised its estimate on the stocks by 14% to Rs 325 a share.
PVC pipes maker Finolex Industries soared 6.59% to Rs 76.85 on repors the firm has decided to sell off its plot at Chinchwad near Pune. It is close to signing a deal with a US-based developer to sell the land for between Rs 350 crore and Rs 400 crore.
Dairy products maker Anik Industries was locked at upper limit of 5% to Rs 57.75 after posting 76.4% surge in net profit to Rs 8.96 crore on 58.1% increase in total income to Rs 333.27 crore in Q4 March 2008 over Q4 March 2007.
State-run lender UCO Bank jumped 1.69% to Rs 51.05 on reports the bank would raise Rs 325 crore through an equity issue in June 2008, and convert government equity worth Rs 300 crore into preference shares. The stock touched a high of Rs 54.20 earlier in the session.
Civil construction firm Patel Engineering rose 2.22% to Rs 609 after its unit's joint venture in the United States received a dam reconstruction contract worth $280 million. The stock had earlier touched a high of Rs 632.
Textiles manufacturer Mohit Industries spurted 10% to Rs 24 after posting 180.13% surge in net profit to Rs 0.42 crore on 1.93% fall in total income to Rs 29.71 crore in Q4 March 2008 over Q4 March 2007.
Steel maker JSW Steel fell 2.08% to Rs 880 on reports the firm will moderate any price hike this year and raise capacity to offset pressure on margins.
Polyester filament yarn maker Century Enka plunged 5.30% to Rs 121.50 after the company reported net loss of Rs 0.89 crore in Q4 March 2008 as compared to net profit of Rs 1.38 crore in Q4 March 2007. Total income rose 31.50% to Rs 326 crore in Q4 March 2008 over Q4 March 2007.
Market pares losses
The key indices pared losses in afternoon trade. Realty and IT stocks witnessed selling pressure. Oil & gas and consumer durables stocks were trading firm in positive territory.
European markets, which open after Indian markets, were mostly positive in green. Key indices in Germany and UK were up 0.10% to 0.29%. However, France’s CAC 40 was down 0.03%.
Most of the Asian markets recovered after trading negative in early trades. Key indices in Singapore, South Korea, Hong Kong and Taiwan were up 0.05% to 0.58%. However, China's Shanghai Composite was down 0.13%. Japanese markets are closed today on account of holiday.
US markets declined yesterday, 5 May 2008, with financial shares facing the maximum brunt on fears of Bank of America Corp likely to abandon its deal to buy Countrywide Financial Corp. However, Bank of America said after the closing bell that it remained committed to acquiring Countrywide.
At 13:20 IST, the 30-share BSE Sensex was down 77.90 points or 0.45% at 17,413. The index lost 151.38 points at day’s low of 17,339.52, hit in mid-morning trade. Sensex gained 11.25 points at day’s high of 17,502.15, hit at the onset of trading session.
The broader based S&P CNX Nifty was down 14 points or 0.27% at 5178.25.
The market breadth was negative on BSE with 1083 shares advancing as compared to 1477 stocks that declined. 68 stocks remained unchanged.
The BSE Mid-Cap index fell 0.10% to 7,292.31 and BSE Small-Cap index fell 0.16% to 8,831.25.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.25% at Rs 2671.50.
India’s top listed cellular service provider by market share Bharti Airtel slipped 3.18% to Rs 865.50. Bharti Airtel has reportedly bid for 51% of South African telecommunications group MTN. According to reports, Bharti had tabled a bid for MTN at 165 rand per share and had secured $12 billion from banks to finance the deal, which would make Bharti a top player in emerging markets telecoms.
India’s biggest beer maker by sales United Breweries surged 19.61% to 254.95 after 60 lakh shares, or 2.5% of its equity changed hands in a block deal at Rs 213 a share on BSE at 9.55 IST.
The country's largest tractor maker by sales Mahindra & Mahindra fell 1.62% to Rs 666.50. The firm will reportedly build a factory at Tamil Nadu to make 50,000 vehicles a year.
Oil stocks rose after crude oil for June 2008 delivery rose to $120.08 a barrel, up 11 cents, in after-hours trading on the New York Mercantile Exchange. The BSE Oil & Gas index was up 0.22% to 11,724.34.
Oil refiner Cairn India rose 3.18% to Rs 262.95 after the Goldman Sachs Group Inc raised its estimate on the stocks by 14% to Rs 325 a share.
Aban Offshore (up 1.59% at Rs 3,505), Essar Oil (up 1.23% at Rs 293), ONGC (up 1.06% at Rs 1,050), Reliance Petroleum (up 0.82% at Rs 202.50), rose. However, shares of the state-run oil firms declined. HPCL (down 2.93% at Rs 256.80), Indian Oil Corporation (down 1.71% at Rs 478), Gail India (down 0.66% at Rs 439.75), and BPCL (down 0.50% at Rs 400), slipped.
The BSE Consumer Durables index was up 0.77% at 4,501.74. Lloyd Electric & Engineering (up 6.38% at Rs 125.95), Titan Industries (up 2.79% at Rs 1,202.40), Rajesh Exports (up 2.14% at Rs 100.10), Blue Star (up 0.32% at Rs 439.50), jumped
European markets, which open after Indian markets, were mostly positive in green. Key indices in Germany and UK were up 0.10% to 0.29%. However, France’s CAC 40 was down 0.03%.
Most of the Asian markets recovered after trading negative in early trades. Key indices in Singapore, South Korea, Hong Kong and Taiwan were up 0.05% to 0.58%. However, China's Shanghai Composite was down 0.13%. Japanese markets are closed today on account of holiday.
US markets declined yesterday, 5 May 2008, with financial shares facing the maximum brunt on fears of Bank of America Corp likely to abandon its deal to buy Countrywide Financial Corp. However, Bank of America said after the closing bell that it remained committed to acquiring Countrywide.
At 13:20 IST, the 30-share BSE Sensex was down 77.90 points or 0.45% at 17,413. The index lost 151.38 points at day’s low of 17,339.52, hit in mid-morning trade. Sensex gained 11.25 points at day’s high of 17,502.15, hit at the onset of trading session.
The broader based S&P CNX Nifty was down 14 points or 0.27% at 5178.25.
The market breadth was negative on BSE with 1083 shares advancing as compared to 1477 stocks that declined. 68 stocks remained unchanged.
The BSE Mid-Cap index fell 0.10% to 7,292.31 and BSE Small-Cap index fell 0.16% to 8,831.25.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.25% at Rs 2671.50.
India’s top listed cellular service provider by market share Bharti Airtel slipped 3.18% to Rs 865.50. Bharti Airtel has reportedly bid for 51% of South African telecommunications group MTN. According to reports, Bharti had tabled a bid for MTN at 165 rand per share and had secured $12 billion from banks to finance the deal, which would make Bharti a top player in emerging markets telecoms.
India’s biggest beer maker by sales United Breweries surged 19.61% to 254.95 after 60 lakh shares, or 2.5% of its equity changed hands in a block deal at Rs 213 a share on BSE at 9.55 IST.
The country's largest tractor maker by sales Mahindra & Mahindra fell 1.62% to Rs 666.50. The firm will reportedly build a factory at Tamil Nadu to make 50,000 vehicles a year.
Oil stocks rose after crude oil for June 2008 delivery rose to $120.08 a barrel, up 11 cents, in after-hours trading on the New York Mercantile Exchange. The BSE Oil & Gas index was up 0.22% to 11,724.34.
Oil refiner Cairn India rose 3.18% to Rs 262.95 after the Goldman Sachs Group Inc raised its estimate on the stocks by 14% to Rs 325 a share.
Aban Offshore (up 1.59% at Rs 3,505), Essar Oil (up 1.23% at Rs 293), ONGC (up 1.06% at Rs 1,050), Reliance Petroleum (up 0.82% at Rs 202.50), rose. However, shares of the state-run oil firms declined. HPCL (down 2.93% at Rs 256.80), Indian Oil Corporation (down 1.71% at Rs 478), Gail India (down 0.66% at Rs 439.75), and BPCL (down 0.50% at Rs 400), slipped.
The BSE Consumer Durables index was up 0.77% at 4,501.74. Lloyd Electric & Engineering (up 6.38% at Rs 125.95), Titan Industries (up 2.79% at Rs 1,202.40), Rajesh Exports (up 2.14% at Rs 100.10), Blue Star (up 0.32% at Rs 439.50), jumped
Weak market breadth
The market extended losses in the mid-morning trade. Overnight slide in US stocks and surge in crude oil prices were the major drag on sentiment today. Crude futures hit a record high of $120.36 a barrel on the NYMEX yesterday on heightened supply fears.
FMCG and consumer durables stocks moved higher, whereas IT and realty stocks slipped. Mid-caps and small-caps snapped previous session’s gains as investors resorted to profit booking.
US markets declined yesterday, 5 May 2008, with financial shares facing the maximum brunt on fears of Bank of America Corp likely to abandon its deal to buy Countrywide Financial Corp. However, Bank of America said after the closing bell that it remained committed to acquiring Countrywide.
Asian markets were mixed today, 6 May 2008. Key indices in China and Singapore were down 0.03% to 0.47%. However, key indices in South Korea, Hong Kong and Taiwan were up 0.04% to 0.42%. Japanese markets are closed today on account of holiday.
At 11:20 IST, the 30-share BSE Sensex was down 102.57 points or 0.59% at 17,388.33. The index lost 151.38 points at day’s low of 17,339.52, hit in mid-morning trade. Sensex gained 11.25 points at day’s high of 17,502.15, hit at the onset of trading session.
The broader based S&P CNX Nifty was down 21.3 points or 0.41% at 5170.95.
The market breadth was negative on BSE with 905 shares advancing as compared to 1312 stocks that declined. 67 stocks remained unchanged.
The BSE Mid-Cap index fell 0.22% to 7,283.43 and BSE Small-Cap index fell 0.33% to 8,816.49.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.85% at Rs 2,643.
India’s top listed cellular service provider by market share Bharti Airtel slipped 3.79% to Rs 379. Bharti Airtel has reportedly bid for 51% of South African telecommunications group MTN. According to reports, Bharti had tabled a bid for MTN at 165 rand per share and had secured $12 billion from banks to finance the deal, which would make Bharti a top player in emerging markets telecoms.
India’s largest private sector bank by assets ICICI Bank rose 0.10% at Rs 934.50.
Top Sensex gainers were, Cipla (up 1.90% at Rs 220.10), ITC (up 1.77% at Rs 224.60), HDFC Bank (up 0.91% at Rs 1543.70), Tata Steel (up 0.77% at Rs 808.15), and Hindalco Industries (up 0.30% at Rs 184).
Top Sensex losers were, Jaiprakash Associates (down 3.80% at Rs 275.75), Reliance Infrastructure (down 3.52% at Rs 1463.90), Maruti Suzuki (down 2.86% at Rs 762), DLF (down 2.42% at Rs 688) and Mahindra & Mahindra (down 2.14% at Rs 663).
The BSE FMCG index was up 1.32% to 2,506.53. United Breweries (up 13.54% at Rs 242), Nestle (up 2.02% at Rs 1,754), United Spirits (up 0.45% at Rs 1,658.05), Tata Tea (up 0.37% at Rs 914.40) and Hindustan Unilever (up 0.34% at Rs 249), spurted.
The BSE IT index was down 1.09% to 4,270.43. Aptech (down 3.76% at Rs 246.70), Financial Technologies (down 2.46% at Rs 1850), Wipro (down 1.86% at Rs 481), Infosys Technologies (down 1.42% at Rs 1762), Satyam Computer (down 1.08% at Rs 482.25), and TCS (down 0.37% at Rs 921.10), slipped.
The BSE Oil & Gas index was up 0.05% to 11,705.43. Cairn India (up 4.18% at Rs 265.50), Essar Oil (up 1.09% at Rs 292.60) and GAIL India (up 0.76% at Rs 446), moved up. However, all the major state-run oil firms declined. HPCL (down 2.21% at Rs 258.70), BPCL (down 0.52% at Rs 399.90) and Indian Oil Corporation (down 0.27% at Rs 485).
PVC pipes maker Finolex Industries soared 5.89% to Rs 76.35 on repors the firm has decided to sell off its plot at Chinchwad near Pune. It is close to signing a deal with a US-based developer to sell the land for between Rs 350 crore and Rs 400 crore.
Apparels maker Provogue India fell 0.32% to Rs 1225. The firm reportedly plans to complete twelve real estate development projects across India in the next five years. The projects involve setting up malls and shopping centres across tier 2 cities like Aurangabad, Indore, Nagpur and Jaipur and the first project is set for completion by mid next year, the reports added.
Engineering and construction firm Punj Lloyd fell 0.17% to Rs 371.80. The firm is reportedly looking to divest its stake in its telecom and broadband business, Spectranet. Spectranet is an Internet service provider (ISP) that offers a range of services to business customers.
Dairy products maker Anik Industries was locked at upper limit of 5% to Rs 57.75 after posting 76.4% surge in net profit to Rs 8.96 crore on 58.1% increase in total income to Rs 333.27 crore in Q4 March 2008 over Q4 March 2007.
FMCG and consumer durables stocks moved higher, whereas IT and realty stocks slipped. Mid-caps and small-caps snapped previous session’s gains as investors resorted to profit booking.
US markets declined yesterday, 5 May 2008, with financial shares facing the maximum brunt on fears of Bank of America Corp likely to abandon its deal to buy Countrywide Financial Corp. However, Bank of America said after the closing bell that it remained committed to acquiring Countrywide.
Asian markets were mixed today, 6 May 2008. Key indices in China and Singapore were down 0.03% to 0.47%. However, key indices in South Korea, Hong Kong and Taiwan were up 0.04% to 0.42%. Japanese markets are closed today on account of holiday.
At 11:20 IST, the 30-share BSE Sensex was down 102.57 points or 0.59% at 17,388.33. The index lost 151.38 points at day’s low of 17,339.52, hit in mid-morning trade. Sensex gained 11.25 points at day’s high of 17,502.15, hit at the onset of trading session.
The broader based S&P CNX Nifty was down 21.3 points or 0.41% at 5170.95.
The market breadth was negative on BSE with 905 shares advancing as compared to 1312 stocks that declined. 67 stocks remained unchanged.
The BSE Mid-Cap index fell 0.22% to 7,283.43 and BSE Small-Cap index fell 0.33% to 8,816.49.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries fell 0.85% at Rs 2,643.
India’s top listed cellular service provider by market share Bharti Airtel slipped 3.79% to Rs 379. Bharti Airtel has reportedly bid for 51% of South African telecommunications group MTN. According to reports, Bharti had tabled a bid for MTN at 165 rand per share and had secured $12 billion from banks to finance the deal, which would make Bharti a top player in emerging markets telecoms.
India’s largest private sector bank by assets ICICI Bank rose 0.10% at Rs 934.50.
Top Sensex gainers were, Cipla (up 1.90% at Rs 220.10), ITC (up 1.77% at Rs 224.60), HDFC Bank (up 0.91% at Rs 1543.70), Tata Steel (up 0.77% at Rs 808.15), and Hindalco Industries (up 0.30% at Rs 184).
Top Sensex losers were, Jaiprakash Associates (down 3.80% at Rs 275.75), Reliance Infrastructure (down 3.52% at Rs 1463.90), Maruti Suzuki (down 2.86% at Rs 762), DLF (down 2.42% at Rs 688) and Mahindra & Mahindra (down 2.14% at Rs 663).
The BSE FMCG index was up 1.32% to 2,506.53. United Breweries (up 13.54% at Rs 242), Nestle (up 2.02% at Rs 1,754), United Spirits (up 0.45% at Rs 1,658.05), Tata Tea (up 0.37% at Rs 914.40) and Hindustan Unilever (up 0.34% at Rs 249), spurted.
The BSE IT index was down 1.09% to 4,270.43. Aptech (down 3.76% at Rs 246.70), Financial Technologies (down 2.46% at Rs 1850), Wipro (down 1.86% at Rs 481), Infosys Technologies (down 1.42% at Rs 1762), Satyam Computer (down 1.08% at Rs 482.25), and TCS (down 0.37% at Rs 921.10), slipped.
The BSE Oil & Gas index was up 0.05% to 11,705.43. Cairn India (up 4.18% at Rs 265.50), Essar Oil (up 1.09% at Rs 292.60) and GAIL India (up 0.76% at Rs 446), moved up. However, all the major state-run oil firms declined. HPCL (down 2.21% at Rs 258.70), BPCL (down 0.52% at Rs 399.90) and Indian Oil Corporation (down 0.27% at Rs 485).
PVC pipes maker Finolex Industries soared 5.89% to Rs 76.35 on repors the firm has decided to sell off its plot at Chinchwad near Pune. It is close to signing a deal with a US-based developer to sell the land for between Rs 350 crore and Rs 400 crore.
Apparels maker Provogue India fell 0.32% to Rs 1225. The firm reportedly plans to complete twelve real estate development projects across India in the next five years. The projects involve setting up malls and shopping centres across tier 2 cities like Aurangabad, Indore, Nagpur and Jaipur and the first project is set for completion by mid next year, the reports added.
Engineering and construction firm Punj Lloyd fell 0.17% to Rs 371.80. The firm is reportedly looking to divest its stake in its telecom and broadband business, Spectranet. Spectranet is an Internet service provider (ISP) that offers a range of services to business customers.
Dairy products maker Anik Industries was locked at upper limit of 5% to Rs 57.75 after posting 76.4% surge in net profit to Rs 8.96 crore on 58.1% increase in total income to Rs 333.27 crore in Q4 March 2008 over Q4 March 2007.
Market slides in opening trade
The market opened on a weak note following overnight slide in US stocks and a surge in oil price to a record high above $120 a barrel. FMCG and consumer durables stocks moved higher, whereas IT and realty stocks slipped. Mid-caps and small-caps extended gains from the previous session.
US markets declined yesterday, 5 May 2008, with financial shares facing the maximum brunt on fears of Bank of America Corp likely to abandon its deal to buy Countrywide Financial Corp. However, Bank of America said after the closing bell that it remained committed to acquiring Countrywide.
Asian markets were mixed today, 6 May 2008. Key indices in China and Singapore were down 0.03% to 0.47%. However, key indices in South Korea, Hong Kong and Taiwan were up 0.04% to 0.42%. Japanese markets are closed today on account of holiday.
At 10:20 IST, the 30-share BSE Sensex was down 47.28 points or 0.27% at 17,443.62. Sensex gained 11.25 points at day’s high of 17,502.15, hit at the onset of trading session. The index lost 79.3 points at day’s low of 17,411.60, hit in early trade.
The broader based S&P CNX Nifty was down 12 points or 0.23% at 5180.25.
The market breadth was strong on BSE with 998 shares advancing as compared to 731 stocks that declined. 51 stocks remained unchanged.
The BSE Mid-Cap index rose 0.26% to 7,317.94 and BSE Small-Cap index rose 0.27% to 8,869.03.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries was steady at Rs 2,665.
India’s largest private sector bank by assets ICICI Bank fell 0.15% to Rs 931.75.
India’s largest engineering and construction firm by revenue Larsen & Toubro fell 0.26% to Rs 3124.90.
The top Sensex gainers were, ITC (up 1.56% at Rs 224.15), Tata Steel (up 1.44% at Rs 814.10), Hindalco Industries (up 1.47% at Rs 185.95), ONGC (up 0.89% at Rs 1048.20), Bharat Heavy Electricals (up 0.97% at Rs 1922) and Cipla (up 0.93% at Rs 218).
Top Sensex losers were, Bharti Airtel (down 3.81% at Rs 859.80), DLF (down 1.57% at Rs 694.25), Mahindra & Mahindra (down 1.53% at Rs 667.15), Maruti Suzuki (down 1.58% at Rs 772), Reliance Infrastructure (down 1.13% at Rs 1499.75) and Infosys Technologies (down 0.89% at Rs 1771.45).
Liquor maker United Breweries (UB) was the most active stock on BSE in terms of turnover. The UB stock surged 14.94% to Rs 245 on a huge turnover of Rs 128.13 crore. The counter clocked a volume of 60.22 lakh shares as against average daily volume of 22,450 shares in past one quarter.
US markets declined yesterday, 5 May 2008, with financial shares facing the maximum brunt on fears of Bank of America Corp likely to abandon its deal to buy Countrywide Financial Corp. However, Bank of America said after the closing bell that it remained committed to acquiring Countrywide.
Asian markets were mixed today, 6 May 2008. Key indices in China and Singapore were down 0.03% to 0.47%. However, key indices in South Korea, Hong Kong and Taiwan were up 0.04% to 0.42%. Japanese markets are closed today on account of holiday.
At 10:20 IST, the 30-share BSE Sensex was down 47.28 points or 0.27% at 17,443.62. Sensex gained 11.25 points at day’s high of 17,502.15, hit at the onset of trading session. The index lost 79.3 points at day’s low of 17,411.60, hit in early trade.
The broader based S&P CNX Nifty was down 12 points or 0.23% at 5180.25.
The market breadth was strong on BSE with 998 shares advancing as compared to 731 stocks that declined. 51 stocks remained unchanged.
The BSE Mid-Cap index rose 0.26% to 7,317.94 and BSE Small-Cap index rose 0.27% to 8,869.03.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries was steady at Rs 2,665.
India’s largest private sector bank by assets ICICI Bank fell 0.15% to Rs 931.75.
India’s largest engineering and construction firm by revenue Larsen & Toubro fell 0.26% to Rs 3124.90.
The top Sensex gainers were, ITC (up 1.56% at Rs 224.15), Tata Steel (up 1.44% at Rs 814.10), Hindalco Industries (up 1.47% at Rs 185.95), ONGC (up 0.89% at Rs 1048.20), Bharat Heavy Electricals (up 0.97% at Rs 1922) and Cipla (up 0.93% at Rs 218).
Top Sensex losers were, Bharti Airtel (down 3.81% at Rs 859.80), DLF (down 1.57% at Rs 694.25), Mahindra & Mahindra (down 1.53% at Rs 667.15), Maruti Suzuki (down 1.58% at Rs 772), Reliance Infrastructure (down 1.13% at Rs 1499.75) and Infosys Technologies (down 0.89% at Rs 1771.45).
Liquor maker United Breweries (UB) was the most active stock on BSE in terms of turnover. The UB stock surged 14.94% to Rs 245 on a huge turnover of Rs 128.13 crore. The counter clocked a volume of 60.22 lakh shares as against average daily volume of 22,450 shares in past one quarter.
Pre Market Report 06/05/2008
Market may open lower
Local market are braced for lower opening mirroring negative trend in global markets. With results already declared from majority of the frontline corporates, the results season has almost come to an end, with the near term trend being dictated by global cues.
Aggregate results of 1358 companies showed 17.40% rise in net profit on 22.40% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 28.60% rise in net profit on 23.80% rise in net sales in the year ended March 2008 over year ended March 2007.
Most Asian markets were trading lower today, 6 May 2008 tracking fall in Wall Street. China's Shanghai Composite (down 1.80% at 3,693.20), Hang Seng (down 0.35% at 26,092.85), Taiwan's Taiwan Weighted (down 0.18% at 8,820.96), Singapore's Straits Times (down 0.22% at 3,240.76) edged lower. However, South Korea's Seoul Composite was up 0.13% at 1,850.59.
US markets declined yesterday, 5 May 2008, with financial shares facing the maximum brunt on fears of Bank of America Corp likely to abandon its deal to buy Countrywide Financial Corp. Record oil prices above $120 a barrel also weighed on sentiment.
The Dow Jones industrial average shed 89 points to 12,970. While the Nasdaq Composite index lost 13 points to 2,464. The S&P 500 fell 6 points to 1,407.
Back home, the 30-share BSE Sensex fell 109.22 points or 0.62% at 17,490.90 while the broader based S&P CNX Nifty slipped 35.95 points or 0.69% at 5192.25, on 5 May 2008.
As per provisional data, foreign funds sold shares worth a net Rs 236.81 crore yesterday, 5 May 2008. Domestic funds bought shares worth a net Rs 457.16 crore on that day.
Foreign institutional investors (FIIs) were net sellers of Rs 89.70 crore in the futures & options segment yesterday, 5 May 2008. They were net sellers of index futures to the tune of Rs 200.56 crore and bought index options worth Rs 382.48 crore. They were net sellers of stock futures to the tune of Rs 232.22 crore and sold stock options worth Rs 39.39 crore.
Light, sweet crude for June delivery rocketed to $120.36 on the New York Mercantile Exchange, hitting a new intraday record on a weaker US dollar, geopolitical tensions and supply concerns.
Meanwhile, in a move that will help stock market investors and brokers use their margin funds efficiently the Securities and Exchange Board of India (Sebi) on Monday, 5 May 2008, approved cross-margining across cash and derivatives segments. The Sebi circular also said that near-month stock futures positions would not be considered for cross-margin benefit three days prior to expiry (the last Thursday of every month).
The asset base of the mutual fund industry increased by 7.32% during the month of April 2008. The mutual fund industry now has Rs 5,67,601.98 crore of assets under management.
Local market are braced for lower opening mirroring negative trend in global markets. With results already declared from majority of the frontline corporates, the results season has almost come to an end, with the near term trend being dictated by global cues.
Aggregate results of 1358 companies showed 17.40% rise in net profit on 22.40% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 28.60% rise in net profit on 23.80% rise in net sales in the year ended March 2008 over year ended March 2007.
Most Asian markets were trading lower today, 6 May 2008 tracking fall in Wall Street. China's Shanghai Composite (down 1.80% at 3,693.20), Hang Seng (down 0.35% at 26,092.85), Taiwan's Taiwan Weighted (down 0.18% at 8,820.96), Singapore's Straits Times (down 0.22% at 3,240.76) edged lower. However, South Korea's Seoul Composite was up 0.13% at 1,850.59.
US markets declined yesterday, 5 May 2008, with financial shares facing the maximum brunt on fears of Bank of America Corp likely to abandon its deal to buy Countrywide Financial Corp. Record oil prices above $120 a barrel also weighed on sentiment.
The Dow Jones industrial average shed 89 points to 12,970. While the Nasdaq Composite index lost 13 points to 2,464. The S&P 500 fell 6 points to 1,407.
Back home, the 30-share BSE Sensex fell 109.22 points or 0.62% at 17,490.90 while the broader based S&P CNX Nifty slipped 35.95 points or 0.69% at 5192.25, on 5 May 2008.
As per provisional data, foreign funds sold shares worth a net Rs 236.81 crore yesterday, 5 May 2008. Domestic funds bought shares worth a net Rs 457.16 crore on that day.
Foreign institutional investors (FIIs) were net sellers of Rs 89.70 crore in the futures & options segment yesterday, 5 May 2008. They were net sellers of index futures to the tune of Rs 200.56 crore and bought index options worth Rs 382.48 crore. They were net sellers of stock futures to the tune of Rs 232.22 crore and sold stock options worth Rs 39.39 crore.
Light, sweet crude for June delivery rocketed to $120.36 on the New York Mercantile Exchange, hitting a new intraday record on a weaker US dollar, geopolitical tensions and supply concerns.
Meanwhile, in a move that will help stock market investors and brokers use their margin funds efficiently the Securities and Exchange Board of India (Sebi) on Monday, 5 May 2008, approved cross-margining across cash and derivatives segments. The Sebi circular also said that near-month stock futures positions would not be considered for cross-margin benefit three days prior to expiry (the last Thursday of every month).
The asset base of the mutual fund industry increased by 7.32% during the month of April 2008. The mutual fund industry now has Rs 5,67,601.98 crore of assets under management.
Asian Markets Continue to Trade in Red/Flat
Asian market are trading in line with US market and continues to trade in Red.
Hang Seng 26,182.01 -1.94 -0.01%
Straits Times 3,242.99 -5.05 -0.16%
Hang Seng 26,182.01 -1.94 -0.01%
Straits Times 3,242.99 -5.05 -0.16%
US Markets Close in RED
Us markets continued to trade in RED full day and finally ended also in RED
Dow 12,969.54 -88.66 -0.68%
Nasdaq 2,464.12 -12.87 -0.52%
S&P 500 1,407.49 -6.41 -0.45%
Dow 12,969.54 -88.66 -0.68%
Nasdaq 2,464.12 -12.87 -0.52%
S&P 500 1,407.49 -6.41 -0.45%
Asian Market opens in RED
After US market closed below yesterday's level, even Asian markets opened in RED.Looks like little bit profit booking is being observed across asia too
Century Tex Q4 net profit at Rs 27 cr
Century Textiles has announced its fourth quarter results. Its Q4 net profit was at Rs 27 crore versus Rs 149 crore.
Its FY08 net profit was at Rs 279.4 crore versus Rs 272.8 crore. Its total income was down at Rs 3512 crore versus Rs 3215 crore.
Its FY08 net profit was at Rs 279.4 crore versus Rs 272.8 crore. Its total income was down at Rs 3512 crore versus Rs 3215 crore.
Monday, May 5, 2008
US opens negative
After the Microsoft yahooo row, us market tumbled and going down...
Dow 12,975.72 -82.48 -0.63%
Nasdaq 2,467.92 -9.07 -0.37%
S&P 500 1,408.15 -5.75 -0.41%
Dow 12,975.72 -82.48 -0.63%
Nasdaq 2,467.92 -9.07 -0.37%
S&P 500 1,408.15 -5.75 -0.41%
Post-Market Report 05.05.2008
After witnessing an intra-day swing of 279 points, the market ended on a weak note.
The market was extremely choppy during intra-day trades, as stocks gyrated between zones amid strong volatile moves.
After opening slightly above its previous close at 17,687, the index gained more ground on sustained buying support to touch the day's high of 17,736, 136 points above its previous close of 17,600. While the index remained firm above the 17,700 mark for some time, it took a sharp downward turn in noon trades on resumption of hectic selling pressure and tumbled to an intra-day low of 17,457, down 279 points from the day's high. Buying in select counters saw the Sensex erase most of its losses by the closing hours, but still ended with losses of 109 points at 17,491. The Nifty, too, witnessed sideways movement and declined 36 points to close at 5,192.
However, the market breadth ended positive. Of the 2,776 stocks traded on the BSE, 1,613 stocks advanced, 1,118 stocks declined and 45 stocks ended unchanged. The BSE CD lost 2.22% while the BSE Auto index, the BSE IT index, the BSE Teck index, the BSE Power index, the BSE CG index and the BSE Oil & Gas index ended with marginal losses. The BSE PSU index, the BSE Realty index, BSE HC index and the BSE Metal index, however, finished in the green.
Among the laggards, Wipro slumped 2.41% at Rs490.10, SBI dropped 2.36% at Rs1,779.20, HDFC shed 2.30% at Rs2,710.05 and DLF was down 2.10% at Rs705.05. Mahindra & Mahindra, Tata Consultancy Services (TCS), Ambuja Cement, Satyam Computer Services, Hindalco and Reliance Communications were down around 1% each. Cipla, however, moved up 1.43% at Rs216. Tata Steel advanced 0.70% at Rs802.55, Grasim Industries gained 0.65% at Rs2,384.10 and ACC jumped 0.56% at Rs757.75.
Select IT stocks came under selling pressure. I-Flex, Aptech, Tech Mahindra, NIIT Technology, HCL Technologies, Rolta India, Mphasis, Wipro, TCS and Satyam Computer Services were down 1-5% each.
Sesa Goa at Rs4,390, Dalal Street at Rs2,499, Sterling Biotech at Rs210, G S Auto at Rs123.45, Suashis Diamond at Rs349, Well pack at Rs61.50, Radhe Developers at Rs150, Rai Agro at Rs1,675 and India Tourism at Rs99.60 touched new all-time highs.
Over 1.86 crore Tata Teleservices shares changed hands on the BSE followed by Kashyap (1.47 crore shares), ISPAT Industries (1.40 crore shares), IFCI (1.22 crore shares) and RNRL (1.09 crore shares).
Valuewise, Titagarh registered a turnover of Rs225 crore followed by HDFC (Rs198 crore), Reliance Industries (Rs197 crore), Unitech (Rs166 crore) and Jaiprakash Associates (Rs154 crore).
The market was extremely choppy during intra-day trades, as stocks gyrated between zones amid strong volatile moves.
After opening slightly above its previous close at 17,687, the index gained more ground on sustained buying support to touch the day's high of 17,736, 136 points above its previous close of 17,600. While the index remained firm above the 17,700 mark for some time, it took a sharp downward turn in noon trades on resumption of hectic selling pressure and tumbled to an intra-day low of 17,457, down 279 points from the day's high. Buying in select counters saw the Sensex erase most of its losses by the closing hours, but still ended with losses of 109 points at 17,491. The Nifty, too, witnessed sideways movement and declined 36 points to close at 5,192.
However, the market breadth ended positive. Of the 2,776 stocks traded on the BSE, 1,613 stocks advanced, 1,118 stocks declined and 45 stocks ended unchanged. The BSE CD lost 2.22% while the BSE Auto index, the BSE IT index, the BSE Teck index, the BSE Power index, the BSE CG index and the BSE Oil & Gas index ended with marginal losses. The BSE PSU index, the BSE Realty index, BSE HC index and the BSE Metal index, however, finished in the green.
Among the laggards, Wipro slumped 2.41% at Rs490.10, SBI dropped 2.36% at Rs1,779.20, HDFC shed 2.30% at Rs2,710.05 and DLF was down 2.10% at Rs705.05. Mahindra & Mahindra, Tata Consultancy Services (TCS), Ambuja Cement, Satyam Computer Services, Hindalco and Reliance Communications were down around 1% each. Cipla, however, moved up 1.43% at Rs216. Tata Steel advanced 0.70% at Rs802.55, Grasim Industries gained 0.65% at Rs2,384.10 and ACC jumped 0.56% at Rs757.75.
Select IT stocks came under selling pressure. I-Flex, Aptech, Tech Mahindra, NIIT Technology, HCL Technologies, Rolta India, Mphasis, Wipro, TCS and Satyam Computer Services were down 1-5% each.
Sesa Goa at Rs4,390, Dalal Street at Rs2,499, Sterling Biotech at Rs210, G S Auto at Rs123.45, Suashis Diamond at Rs349, Well pack at Rs61.50, Radhe Developers at Rs150, Rai Agro at Rs1,675 and India Tourism at Rs99.60 touched new all-time highs.
Over 1.86 crore Tata Teleservices shares changed hands on the BSE followed by Kashyap (1.47 crore shares), ISPAT Industries (1.40 crore shares), IFCI (1.22 crore shares) and RNRL (1.09 crore shares).
Valuewise, Titagarh registered a turnover of Rs225 crore followed by HDFC (Rs198 crore), Reliance Industries (Rs197 crore), Unitech (Rs166 crore) and Jaiprakash Associates (Rs154 crore).
Market ends down
It was quiet day for the market, and it ended in red. Nifty closed below 5200 level. The BSE consumer durable, auto, IT indices witnessed selling pressure. However, realty and midcap stocks have surged. Pharma and metal closed in green but with modest gains.
The Sensex closed down 109.22 points or 0.62% at 17490.90, and the Nifty was down 35.95 points or 0.69% at 5192.25.
About 1529 shares have advanced, 1360 shares declined, and 195 shares are unchanged.
The BSE midcap and small cap indices closed at 0.84% at 7298 and 0.30% at 8848 respectively.
The BSE realty index closed up at 0.49% at 8761. Akruti City, Anant Raj Ind, Ansal Infra, HDIL and DLF moved up.
The BSE HealthCare index ended up 0.28% at 4301. Orchid Chemical, Wockhardt, Glenmark Pharma, Cadila & pca labs gained.
The BSE metal index closed flat at 0.07 at 15873. Maharashtra Seamless, Gujarat Nre Coke, Jindal Stainless, Jindal Saw, Jindal Steel advanced.
The BSE consumer durable index was ended down 2.62% or 119.52 points at 4449.33.
The BSE auto index closed down 1.08% or 52.40 points at 4808.75.
The BSE IT index ended down 1% or 43.54 points at 4315.04.
The BSE capital goods closed down 0.40% or 56.88 points at 14187.
The NSE cash turnover was at Rs 14778.07 crore and the NSE F&O turnover was at Rs 32972.85 crore. The BSE cash turnover was Rs 6368.99 crore. Total market wide turnover was at Rs 54119.91 crore.
Markets Snapshot
Market off day's high on profit booking in large-cap stocks, stock-specific action seen in midcap/small-cap stocks
Sensex ends down 109 pts at 17490; slips 255 pts from days high
Nifty ends down 36 pts at 5192; slips 62 pts from days high
CNX Midcap Index up 0.74%, BSE Small-cap Index up 0.3%
Unitech up 4.6% as govt allocates spectrum for Orissa circle
Index losers; Hero Honda, Idea down 3.3%, Wipro, SBI, HDFC, DLF down over 2% each
Buzzers: SRF Polymers, Ram Informatics up 20%, Subros up 18.4%, Lokesh Machines up 14%
UCO Bank up 13%; Q4 standalone net profit at Rs 85 cr Vs Rs 30.9 cr
Kolte Patil: still down nearly 10% from its issue price of Rs 145; has recovered from lows of 76
PFC: may be allowed to access up to $5 bn foreign exchange reserves to fund power projects
BILT up 6%; to hike paper prices by 2500/tonne from tomorrow
Stocks hits new all-time high during the day: Sesa Goa, REI Agro, Glenmark Pharma
NSE Advance Decline at 1:1
The Sensex closed down 109.22 points or 0.62% at 17490.90, and the Nifty was down 35.95 points or 0.69% at 5192.25.
About 1529 shares have advanced, 1360 shares declined, and 195 shares are unchanged.
The BSE midcap and small cap indices closed at 0.84% at 7298 and 0.30% at 8848 respectively.
The BSE realty index closed up at 0.49% at 8761. Akruti City, Anant Raj Ind, Ansal Infra, HDIL and DLF moved up.
The BSE HealthCare index ended up 0.28% at 4301. Orchid Chemical, Wockhardt, Glenmark Pharma, Cadila & pca labs gained.
The BSE metal index closed flat at 0.07 at 15873. Maharashtra Seamless, Gujarat Nre Coke, Jindal Stainless, Jindal Saw, Jindal Steel advanced.
The BSE consumer durable index was ended down 2.62% or 119.52 points at 4449.33.
The BSE auto index closed down 1.08% or 52.40 points at 4808.75.
The BSE IT index ended down 1% or 43.54 points at 4315.04.
The BSE capital goods closed down 0.40% or 56.88 points at 14187.
The NSE cash turnover was at Rs 14778.07 crore and the NSE F&O turnover was at Rs 32972.85 crore. The BSE cash turnover was Rs 6368.99 crore. Total market wide turnover was at Rs 54119.91 crore.
Markets Snapshot
Market off day's high on profit booking in large-cap stocks, stock-specific action seen in midcap/small-cap stocks
Sensex ends down 109 pts at 17490; slips 255 pts from days high
Nifty ends down 36 pts at 5192; slips 62 pts from days high
CNX Midcap Index up 0.74%, BSE Small-cap Index up 0.3%
Unitech up 4.6% as govt allocates spectrum for Orissa circle
Index losers; Hero Honda, Idea down 3.3%, Wipro, SBI, HDFC, DLF down over 2% each
Buzzers: SRF Polymers, Ram Informatics up 20%, Subros up 18.4%, Lokesh Machines up 14%
UCO Bank up 13%; Q4 standalone net profit at Rs 85 cr Vs Rs 30.9 cr
Kolte Patil: still down nearly 10% from its issue price of Rs 145; has recovered from lows of 76
PFC: may be allowed to access up to $5 bn foreign exchange reserves to fund power projects
BILT up 6%; to hike paper prices by 2500/tonne from tomorrow
Stocks hits new all-time high during the day: Sesa Goa, REI Agro, Glenmark Pharma
NSE Advance Decline at 1:1
Market extends gains
Sustained buying in banking and power stocks catapulted the key indices higher in the early afternoon trade. Auto pivotals witnessed selling pressure. Small-cap and mid-cap counters saw increased activity with their barometer indices outperforming the Sensex.
Asian markets were mostly in green today, 5 May 2008. Key indices in China, Hong Kong and Singapore were up 0.06% to 1.18%. However, Taiwan’s Taiwan Weighted Index was down 1.41%. Markets in Japan, and South Korea were closed for holiday.
At 12:20 IST, the 30-share BSE Sensex was up 127.95 points or 0.73% at 17,728.07. Sensex gained 132.28 points at day’s high of 17,732.40, hit in the early afternoon trade. The index lost 46.4 points at day’s low of 17,553.72, hit in early trade.
The broader based S&P CNX Nifty was up 21.8 points or 0.42% at 5228.20.
The market breadth was strong on BSE with 2096 shares advancing as compared to 415 stocks that declined. 32 stocks remained unchanged.
The BSE Mid-Cap index rose 1.78% to 7,366.10 and BSE Small-Cap index rose 1.20% to 8,927.52.
The top Sensex gainers were, Jaiprakash Associates (up 2.63% at Rs 294.50), ACC (up 1.78% at Rs 767), Housing Development Finance Corporation (up 1.31% at Rs 2810), Grasim Industries (up 1.32% at Rs 2399.85) and Tata Steel (up 1.19% at Rs 806.50).
Top Sensex losers were, Hindalco Industries (down 1.61% at Rs 182.85), Wipro (down 1.045 at Rs 497), Hindustan Unilever (down 0.66% at Rs 247.80), Bharti Airtel (down 0.57% at Rs 893.50), and TCS (down 0.55% at Rs 936.10).
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.13% to Rs 2,678.25.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 3.31% to Rs 3245. The firm is reportedly set to revamp its corporate structure to create a dozen operating companies under the direction of a separate board of directors. Effective 1 July 2008, the move will lead to L&T becoming the umbrella organisation with a board to administer the performance of all businesses and ownership of the brand, pegged at around $2 billion.
The BSE Bankex was up 1.75% at 9,302.46. Kotak Mahindra Bank (up 5.21% at Rs 864.50), Yes Bank (up 3.90% at Rs 181.30), Karnataka Bank (up 3.38% at Rs 217) and Andhra Bank (up 3.38% at Rs 85.75), edged higher.
India’s largest private sector bank by assets ICICI Bank rose 2.03% at Rs 954.50.
India’s largest commercial bank State Bank of India slipped 1.05% at Rs 1803. Net profit of State Bank of India rose 26.1% to Rs 1883.25 crore on 26.7% increase in operating income to Rs 16393.93 crore in Q4 March 2008 over Q4 March 2007. The bank announced the results at the fag end of the trading session on Friday, 2 May 2008.
Public sector lender Allahabad Bank rose 5.80% at Rs 92.10. Net profit of Allahabad Bank rose 34.8% to Rs 169.51 crore on 30.3% increase in operating income to Rs 1980.17 crore in Q4 March 2008 over Q4 March 2007.
The BSE Power index was up 0.82% at 3,430.82. GVK Power & Infrastructure (up 4.91% at Rs 49.15), Reliance Infrastructure (up 2.84% at Rs 1,566.50), Torrent Power (up 2.65% at Rs 141.60), and Reliance Power (up 1.83% at Rs 404), edged higher.
The BSE Auto index was down 0.53% at 4,835.24. Hero Honda Motors (down 3.03% at Rs 822) and Bharat Forge (down 0.67% at Rs 298.05).
India's largest commercial vehicles maker by sales Tata Motors slipped 1.06% at Rs 683.10. Tata Motors on Friday, 2 May 2008, reported a decline of 5.8% in automobile sales, including exports, at 38,149 units for April 2008 compared with 40,486 units in the same month last year, largely on account of dip in passenger car segment and exports. Passenger vehicle sales saw a decline of 12%, with total sales of 14,843 units in the domestic market in April 2008.
India's leading tractor maker by sales Mahindra & Mahindra fell 0.99% at Rs 683.50. Goldman Sachs will invest Rs 700 crore in Mahindra & Mahindra (M&M) by picking up convertible debentures which will give it a 3.68% stake in the auto major.
However, Maruti Suzuki rose 1.31% at Rs 798.30 and TVS Motor moved up 0.11% at Rs 45.65.
Among the side counters, Ram Informatics (up 20% at Rs 17.90), Gangotri Iron & Steel Company (up 15.16% at Rs 21.65), Mold-Tek Technologies (up 12.65% at Rs 77.90), Jamna Auto (up 12.05% at Rs 73) and Kolte Patil Developers (up 11.70% at Rs 126.45), surged
Asian markets were mostly in green today, 5 May 2008. Key indices in China, Hong Kong and Singapore were up 0.06% to 1.18%. However, Taiwan’s Taiwan Weighted Index was down 1.41%. Markets in Japan, and South Korea were closed for holiday.
At 12:20 IST, the 30-share BSE Sensex was up 127.95 points or 0.73% at 17,728.07. Sensex gained 132.28 points at day’s high of 17,732.40, hit in the early afternoon trade. The index lost 46.4 points at day’s low of 17,553.72, hit in early trade.
The broader based S&P CNX Nifty was up 21.8 points or 0.42% at 5228.20.
The market breadth was strong on BSE with 2096 shares advancing as compared to 415 stocks that declined. 32 stocks remained unchanged.
The BSE Mid-Cap index rose 1.78% to 7,366.10 and BSE Small-Cap index rose 1.20% to 8,927.52.
The top Sensex gainers were, Jaiprakash Associates (up 2.63% at Rs 294.50), ACC (up 1.78% at Rs 767), Housing Development Finance Corporation (up 1.31% at Rs 2810), Grasim Industries (up 1.32% at Rs 2399.85) and Tata Steel (up 1.19% at Rs 806.50).
Top Sensex losers were, Hindalco Industries (down 1.61% at Rs 182.85), Wipro (down 1.045 at Rs 497), Hindustan Unilever (down 0.66% at Rs 247.80), Bharti Airtel (down 0.57% at Rs 893.50), and TCS (down 0.55% at Rs 936.10).
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.13% to Rs 2,678.25.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 3.31% to Rs 3245. The firm is reportedly set to revamp its corporate structure to create a dozen operating companies under the direction of a separate board of directors. Effective 1 July 2008, the move will lead to L&T becoming the umbrella organisation with a board to administer the performance of all businesses and ownership of the brand, pegged at around $2 billion.
The BSE Bankex was up 1.75% at 9,302.46. Kotak Mahindra Bank (up 5.21% at Rs 864.50), Yes Bank (up 3.90% at Rs 181.30), Karnataka Bank (up 3.38% at Rs 217) and Andhra Bank (up 3.38% at Rs 85.75), edged higher.
India’s largest private sector bank by assets ICICI Bank rose 2.03% at Rs 954.50.
India’s largest commercial bank State Bank of India slipped 1.05% at Rs 1803. Net profit of State Bank of India rose 26.1% to Rs 1883.25 crore on 26.7% increase in operating income to Rs 16393.93 crore in Q4 March 2008 over Q4 March 2007. The bank announced the results at the fag end of the trading session on Friday, 2 May 2008.
Public sector lender Allahabad Bank rose 5.80% at Rs 92.10. Net profit of Allahabad Bank rose 34.8% to Rs 169.51 crore on 30.3% increase in operating income to Rs 1980.17 crore in Q4 March 2008 over Q4 March 2007.
The BSE Power index was up 0.82% at 3,430.82. GVK Power & Infrastructure (up 4.91% at Rs 49.15), Reliance Infrastructure (up 2.84% at Rs 1,566.50), Torrent Power (up 2.65% at Rs 141.60), and Reliance Power (up 1.83% at Rs 404), edged higher.
The BSE Auto index was down 0.53% at 4,835.24. Hero Honda Motors (down 3.03% at Rs 822) and Bharat Forge (down 0.67% at Rs 298.05).
India's largest commercial vehicles maker by sales Tata Motors slipped 1.06% at Rs 683.10. Tata Motors on Friday, 2 May 2008, reported a decline of 5.8% in automobile sales, including exports, at 38,149 units for April 2008 compared with 40,486 units in the same month last year, largely on account of dip in passenger car segment and exports. Passenger vehicle sales saw a decline of 12%, with total sales of 14,843 units in the domestic market in April 2008.
India's leading tractor maker by sales Mahindra & Mahindra fell 0.99% at Rs 683.50. Goldman Sachs will invest Rs 700 crore in Mahindra & Mahindra (M&M) by picking up convertible debentures which will give it a 3.68% stake in the auto major.
However, Maruti Suzuki rose 1.31% at Rs 798.30 and TVS Motor moved up 0.11% at Rs 45.65.
Among the side counters, Ram Informatics (up 20% at Rs 17.90), Gangotri Iron & Steel Company (up 15.16% at Rs 21.65), Mold-Tek Technologies (up 12.65% at Rs 77.90), Jamna Auto (up 12.05% at Rs 73) and Kolte Patil Developers (up 11.70% at Rs 126.45), surged
Market recovers
Rally in realty and capital goods stocks took the market higher in mid-morning trade. Auto and FMCG stocks witnessed selling pressure.
Asian markets were mostly in green today, 5 May 2008. Key indices in China, Hong Kong and Singapore were up 0.04% to 0.81%. However, Taiwan’s Taiwan Weighted Index was down 1.23%. Markets in Japan, and South Korea were closed for holiday.
At 11:20 IST, the 30-share BSE Sensex was up 54.55 points or 0.31% at 17,654.67. Sensex gained 86.88 points at day’s high of 17,687, hit at the onset of trading session. The index lost 46.4 points at day’s low of 17,553.72, hit in early trade.
The broader based S&P CNX Nifty was down 3.75 points or 0.07% at 5224.45.
The market breadth was strong on BSE with 1,897 shares advancing as compared to 420 stocks that declined. 34 stocks remained unchanged.
The BSE Mid-Cap index rose 1.49% to 7,345.33 and BSE Small-Cap index rose 0.87% to 8,898.09.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.13% to Rs 2,678.25.
Diversified firm Jaiprakash Associates jumped 3.15% at Rs 296. The stock moved up on reports the firm has won a bid to buy 45% stake in small-sized energy explorer, Prize Petroleum for an undisclosed amount. The stake in unlisted company was put on the block by ICICI Bank and its arm ICICI Venture Funds.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 3.31% to Rs 3245. The firm is reportedly set to revamp its corporate structure to create a dozen operating companies under the direction of a separate board of directors. Effective 1 July 2008, the move will lead to L&T becoming the umbrella organisation with a board to administer the performance of all businesses and ownership of the brand, pegged at around $2 billion.
The BSE Bankex was up 0.65% at 9,201.86. Kotak Mahindra Bank (up 4.17% at Rs 856), Yes Bank (up 2.46% at Rs 178.80), Canara Bank (up 2.46% at Rs 247), and Union Bank of India (up 2.13% at Rs 167.70), edged higher.
India’s largest private sector bank by assets ICICI Bank rose 1.50% at Rs 949.50.
India’s largest commercial bank State Bank of India slipped 2.42% at Rs 1778.10. Net profit of State Bank of India rose 26.1% to Rs 1883.25 crore on 26.7% increase in operating income to Rs 16393.93 crore in Q4 March 2008 over Q4 March 2007. The bank announced the results at the fag end of the trading session on Friday, 2 May 2008.
Public sector lender Allahabad Bank rose 4.71% at Rs 91.15. Net profit of Allahabad Bank rose 34.8% to Rs 169.51 crore on 30.3% increase in operating income to Rs 1980.17 crore in Q4 March 2008 over Q4 March 2007.
The BSE Capital Goods index was up 1.54% at 14,464.46. Thermax (up 2.71% at Rs 512.80), Elecon Engineering Company (up 2.62% at Rs 164.45), BEML (up 1.96% at Rs 1,127), Bharat Heavy Electricals (up 0.20% at Rs 1,913) and Areva T&D (up 0.16% at Rs 1610), rose.
The BSE IT index was down 0.07% at 4,355.61. Wipro (down 2.13% at Rs 491.50), Aptech (down 2.075 at Rs 260.35), HCL Technologies (down 1.23% at Rs 292.45), Satyam Computer (down 0.40% at Rs 492.10) and TCS (down 0.37% at Rs 937.25). Infosys Technologies was steady at Rs 1789.75.
India's largest commercial vehicles maker by sales Tata Motors slipped 2.27% at Rs 674.75. Tata Motors on Friday, 2 May 2008, reported a decline of 5.8% in automobile sales, including exports, at 38,149 units for April 2008 compared with 40,486 units in the same month last year, largely on account of dip in passenger car segment and exports. Passenger vehicle sales saw a decline of 12%, with total sales of 14,843 units in the domestic market in April 2008
India's leading tractor maker by sales Mahindra & Mahindra slipped 0.92% at Rs 684. Goldman Sachs will invest Rs 700 crore in Mahindra & Mahindra (M&M) by picking up convertible debentures which will give it a 3.68% stake in the auto major.
IT firm MindTree was up 0.40% at Rs 485. MindTree on Friday, 2 May 2008 said it was buying a majority stake in software services firm Aztecsoft for Rs 190 crore. MindTree will initially buy 32.57% of Aztecsoft at Rs 80 per share and follow it up with an open offer for an additional 20%. It will be paying Rs 190 crore in the all-cash deal. The acquisition will be funded by internal accruals.
Among side counters, Godrej Industries (up 10% at Rs 321.35), Maytas Infrastructure (up 7.66% at Rs 685), UCO Bank (up 7.01% at Rs 47.30) and Gujarat NRE Coke (up 6.72% at Rs 158), surged
Asian markets were mostly in green today, 5 May 2008. Key indices in China, Hong Kong and Singapore were up 0.04% to 0.81%. However, Taiwan’s Taiwan Weighted Index was down 1.23%. Markets in Japan, and South Korea were closed for holiday.
At 11:20 IST, the 30-share BSE Sensex was up 54.55 points or 0.31% at 17,654.67. Sensex gained 86.88 points at day’s high of 17,687, hit at the onset of trading session. The index lost 46.4 points at day’s low of 17,553.72, hit in early trade.
The broader based S&P CNX Nifty was down 3.75 points or 0.07% at 5224.45.
The market breadth was strong on BSE with 1,897 shares advancing as compared to 420 stocks that declined. 34 stocks remained unchanged.
The BSE Mid-Cap index rose 1.49% to 7,345.33 and BSE Small-Cap index rose 0.87% to 8,898.09.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.13% to Rs 2,678.25.
Diversified firm Jaiprakash Associates jumped 3.15% at Rs 296. The stock moved up on reports the firm has won a bid to buy 45% stake in small-sized energy explorer, Prize Petroleum for an undisclosed amount. The stake in unlisted company was put on the block by ICICI Bank and its arm ICICI Venture Funds.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 3.31% to Rs 3245. The firm is reportedly set to revamp its corporate structure to create a dozen operating companies under the direction of a separate board of directors. Effective 1 July 2008, the move will lead to L&T becoming the umbrella organisation with a board to administer the performance of all businesses and ownership of the brand, pegged at around $2 billion.
The BSE Bankex was up 0.65% at 9,201.86. Kotak Mahindra Bank (up 4.17% at Rs 856), Yes Bank (up 2.46% at Rs 178.80), Canara Bank (up 2.46% at Rs 247), and Union Bank of India (up 2.13% at Rs 167.70), edged higher.
India’s largest private sector bank by assets ICICI Bank rose 1.50% at Rs 949.50.
India’s largest commercial bank State Bank of India slipped 2.42% at Rs 1778.10. Net profit of State Bank of India rose 26.1% to Rs 1883.25 crore on 26.7% increase in operating income to Rs 16393.93 crore in Q4 March 2008 over Q4 March 2007. The bank announced the results at the fag end of the trading session on Friday, 2 May 2008.
Public sector lender Allahabad Bank rose 4.71% at Rs 91.15. Net profit of Allahabad Bank rose 34.8% to Rs 169.51 crore on 30.3% increase in operating income to Rs 1980.17 crore in Q4 March 2008 over Q4 March 2007.
The BSE Capital Goods index was up 1.54% at 14,464.46. Thermax (up 2.71% at Rs 512.80), Elecon Engineering Company (up 2.62% at Rs 164.45), BEML (up 1.96% at Rs 1,127), Bharat Heavy Electricals (up 0.20% at Rs 1,913) and Areva T&D (up 0.16% at Rs 1610), rose.
The BSE IT index was down 0.07% at 4,355.61. Wipro (down 2.13% at Rs 491.50), Aptech (down 2.075 at Rs 260.35), HCL Technologies (down 1.23% at Rs 292.45), Satyam Computer (down 0.40% at Rs 492.10) and TCS (down 0.37% at Rs 937.25). Infosys Technologies was steady at Rs 1789.75.
India's largest commercial vehicles maker by sales Tata Motors slipped 2.27% at Rs 674.75. Tata Motors on Friday, 2 May 2008, reported a decline of 5.8% in automobile sales, including exports, at 38,149 units for April 2008 compared with 40,486 units in the same month last year, largely on account of dip in passenger car segment and exports. Passenger vehicle sales saw a decline of 12%, with total sales of 14,843 units in the domestic market in April 2008
India's leading tractor maker by sales Mahindra & Mahindra slipped 0.92% at Rs 684. Goldman Sachs will invest Rs 700 crore in Mahindra & Mahindra (M&M) by picking up convertible debentures which will give it a 3.68% stake in the auto major.
IT firm MindTree was up 0.40% at Rs 485. MindTree on Friday, 2 May 2008 said it was buying a majority stake in software services firm Aztecsoft for Rs 190 crore. MindTree will initially buy 32.57% of Aztecsoft at Rs 80 per share and follow it up with an open offer for an additional 20%. It will be paying Rs 190 crore in the all-cash deal. The acquisition will be funded by internal accruals.
Among side counters, Godrej Industries (up 10% at Rs 321.35), Maytas Infrastructure (up 7.66% at Rs 685), UCO Bank (up 7.01% at Rs 47.30) and Gujarat NRE Coke (up 6.72% at Rs 158), surged
Allahabad Bank Q4 net profit at Rs 169.5 cr
Allahabad Bank has declared its standalone results for the quarter ended (Q4). The bank's standalone NII was at Rs 442.5 crore versus Rs 485.2 crore. Its other income was at Rs 260 crore versus Rs 125 crore.
During the same quarter its standalone net profit was at Rs 169.5 crore versus Rs 125.7 crore.
During the same quarter its standalone net profit was at Rs 169.5 crore versus Rs 125.7 crore.
Markets are trading choppy
Markets are trading choppy. The BSE realty index has outperformed the other sectoral indices; it was up over 2% at 8926. Capital goods, power, banking sectors are also trading in green. However, auto, oil & gas indices stocks are witnessing selling interest.
The BSE midcap and smallcap indices are up 1.15% and 0.56% respectively.
At 10.35 am, the Sensex is up 15.51 points or 0.09% at 17615.63, and the Nifty down 3.00 points or 0.06% at 5225.20.
About 1702 shares have advanced, 1164 shares declined, and 217 shares are unchanged.
The BSE midcap and smallcap indices are up 1.15% and 0.56% respectively.
At 10.35 am, the Sensex is up 15.51 points or 0.09% at 17615.63, and the Nifty down 3.00 points or 0.06% at 5225.20.
About 1702 shares have advanced, 1164 shares declined, and 217 shares are unchanged.
Market opens volatile
The markets opened strong, but gave up its opening gain and is now trading volatile. Buying interest is seen in capital goods and realty indices. However, IT, FMCG, oil and gas stocks are witnessing selling pressure.
At 9.56 am, the Sensex was up 18 points at 17618, and the Nifty was up 2 points at 5230.
Maruti Suzuki, ICICI Bank, L&T, DLF are among major gainers.
At 9.56 am, the Sensex was up 18 points at 17618, and the Nifty was up 2 points at 5230.
Maruti Suzuki, ICICI Bank, L&T, DLF are among major gainers.
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