The market may extend Wednesday (2 April 2008)'s gains as Asian markets shrugged off overnight slide in US stocks. However, upside may be capped due to concerns of possible monetary tightening by the Reserve Bank of India and due to caution ahead of Q4 March 2008 results.
Prospects of further monetary tightening by the Reserve Bank of India (RBI) following a surge in inflation is a cause for concern at a time when the already high rates are pinching the domestic industry. The surge in inflation has triggered fears that RBI my raise cash reserve ratio (CRR). An increase in CRR would suck out liquidity immediately pushing up the cost of funds and thereby curbing demand.
The next major trigger for the market is Q4 March 2008 results of India Inc. As per market talks IT bellwether Infosys may issue muted guidance for the year ending March 2009 in the backdrop of a slowdown in the US economy. Infosys unveils Q4 results on 15 April 2008.
The market sentiment remains edgy as Indian companies are sitting on potential losses on account of the forex derivative transactions they undertook last year. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc has hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
In Asia, the key benchmark indices in Hong Kong, Japan, South Korea, Singapore and China were up by between 0.55% to 0.8%.
US stocks declined on Wednesday after Federal Reserve Chairman Ben Bernanke said a recession was possible, spurring profit-taking a day after the market's biggest rally in two weeks. The Dow Jones industrial average shed 48.53 points, or 0.38%, at 12,605.83. The Standard & Poor's 500 Index lost 2.65 points, or 0.19%, at 1,367.53. The Nasdaq Composite Index was down 1.35 points, or 0.06%, at 2,361.40.
As per provisional data, foreign funds sold shares worth a net Rs 135.65 crore on Wednesday, 2 April 2008. Domestic funds bought shares worth a net Rs 264.37 crore.
Foreign funds were net buyers of Rs 1,773.24 crore in the futures & options segment on Wednesday. According to data released by the NSE, foreign institutional investors (FIIs) were net buyers of index futures to the tune of Rs 1,563.18 crore and bought index options worth Rs 43.98 crore. They were net buyers of stock futures to the tune of Rs 164.07 crore and bought stock options worth Rs 2.01 crore.
Thursday, April 3, 2008
Post Market report 02-Apr-2008
An early surge on the bourses proved short-lived as index
heavyweights Reliance Industries, ICICI Bank and L&T, gave up
initial gains. The Sensex, which had surged past 16,000 mark in
early trade, fell below that level later. Nevertheless, the market
breadth remained strong. 16 shares advanced from the 30-member
Sensex pack.
Sensex settled 123.78 points or 0.79% higher at 15,750.40. Sensex
gained 92.85 points at day's low of 15,719.47 hit in late trade.
Sensex opened with an upward gap of 396.68 points at 16,023.30 and
advanced further to hit a high of 16,236.70 in early trade. At the
day's high, the Sensex rose 610.08 points. It oscillated in a band
of 517.30 points in volatile trade
The broader based S&P CNX Nifty was up 14.65 points or 0.31% at
4,754.20. Nifty April 2008 futures were at 4741.15, a discount of
13.05 points as compared to spot closing.
Strong cues from global markets had boosted domestic bourses
earlier in the day. US stocks rallied on Tuesday, 1 April 2008,
after Lehman Brothers said it raised $4 billion in an offering of
convertible preferred shares, which soothed fears it was heading
for a fate similar to that of Bear Stearns. European markets, which
opened after Indian market, were in green. Asian markets, which
opened before Indian market Indian market, surged.
The market breadth was strong on BSE: 1734 shares advanced as
compared to 938 that declined. 50 shares remained unchanged.
The BSE Mid-Cap index rose 0.08% to 6,400.37 and the BSE Small-Cap
index advanced 0.51% to 7,901.91, as per provisional closing. Both
these indices underperformed the Sensex.
The total turnover amounted to Rs 4769 crore on BSE as compared to
Rs 4,718 crore yesterday, 1 April 2008
Total turnover in NSE's futures options segment amounted to Rs
34170.35 crore as compared to Rs 35886.84 crore yesterday, 1 April
2008
The BSE Consumer Durables index (up 0.80% to 3,917.70), the BSE IT
index (up 2.93% to 3,644.35), the BSE Auto (up 1.56% at 4,539.52),
the BSE Bankex (up 2.34% at 7,822.56), the BSE Health Care index
(up 0.82% at 3,862.83), the BSE TecK index (up 2.04% to 3,078.22),
outperformed the Sensex
The BSE Metal index (down 2.15% to 13,516.89), the BSE FMCG index
(down 0.79% at 2,318.80), the BSE Oil & Gas index (down 0.25% to
10,328.08), the BSE Realty index (up 0.46% at 7,501.17), the BSE
Power (down 0.49% to 3,137.12), the BSE Capital Goods index (down
0.46% at 13,498.15), and the BSE PSU index (down 0.11% to
7,387.62), underperformed the Sensex
IT pivotals advanced on fresh buying. India's second largest
software services exporter Infosys Technologies surged 4.34% to Rs
1483 on 1.66 lakh shares. It was the top gainer from Sensex pack.
Other IT pivotals, Wipro (up 1.10% to Rs 413.50), Satyam Computer
Services (up 1.91% to Rs 405), and TCS (up 2.06% to Rs 852),
advanced.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries eased sharply
from day's high of Rs 2455. It settled 0.22% lower at Rs 2340 on
13.27 lakh shares. The company said on Tuesday, 1 April 2008, it
had discovered more gas in an exploration block off the east coast.
The potential commercial interest of the discovery is being
ascertained through more data gathering and analysis, the company
said in a statement.
Jaiprakash Associates (up 2.51% to Rs 231, off day's high of Rs
240.95), HDFC (up 3.82% to Rs 2450, off day's high of Rs 2524.70)
and Bharti Airtel (up 1.32% to Rs 815.25, off day's high of Rs
839), though up pared early gains.
Banking shares gained on fresh buying. India's largest private
sector bank in terms of net profit ICICI Bank advanced 3.93% to Rs
786.25. The stock came off session's high of Rs 815. The bank's
American Depository Receipt (ADR) jumped 8% yesterday, 1 April
2008, on the New York Stock Exchange (NYSE).
Other banking shares, State Bank of India (up 1.51% to Rs 1649),
and HDFC Bank (up 0.45% to Rs 1314), also logged gains
India's top tractor marker in terms of sales, Mahindra & Mahindra
(M&M) rose 2.61% to Rs 667.25 after it said on Tuesday, 1 April
2008, its vehicle sales rose 20% to 24,682 units in March 2008 over
March 2007. M&M's sales rose 30% to 2,31,355 vehicles, in the
financial year to March 2008 over the financial year to March 2007.
India's top truck marker in terms of sales, Tata Motors rose 1.51%
to Rs 636.90 after it said on Tuesday, its vehicle sales 6% to
66,495 units in March 2008 over March 2007. Sales of commercial
vehicles rose 17% to 35,993 units and sales of cars and utility
vehicles fell 4% to 24,737. Exports fell 9% to 5,765 vehicles
India's largest private sector power utility company in terms of
sales, Reliance Energy slumped 5.15% to Rs 1222 on 9.22 lakh
shares. It was the top loser from Sensex pack.
Steel stocks declined on reports that the government has asked
steel makers to cut prices by 10% to 20%, failing which it may take
a host of fiscal measures to lower prices. Tata Steel, the
country's largest private sector in terms of sales, declined 3.50%
to Rs 644
Other steel manufacturers JSW Steel (down 4.93% to Rs 785), Steel
Authority of India (down 4.13% to Rs 167.30), and Jindal Steel &
Power (down 2.36% to Rs 1965), declined. As per reports, the
government has asked steel makers to cut prices by 10% to 20%,
failing which it may take a host of fiscal measures to lower
prices.
Bharat Heavy Electricals (down 2% to Rs 1854), and ITC (down 2.18%
to Rs 206.55), edged lower from Sensex pack.
India's biggest engineering & construction firm by revenue L&T lost
1.1% to Rs 2861.25. The stock came off session's high of Rs 3069.90
GSS America Systems was the top traded counter on BSE with turnover
of Rs 344.18 crore followed by Reliance Industries (Rs 318.62
crore), Reliance Capital (Rs 277.80 crore), Essar Oil (Rs 209.51
crore), and Reliance Petroleum (Rs 207.35 crore), in that order
Indiabulls Securities topped volumes chart clocking volumes of 1.50
crore shares followed by Reliance Petroleum (1.22 crore shares),
Kashyap Technologies (1.10 crore shares), Reliance Natural
Resources (1.02 crore shares) and Essar Oil (95.50 lakh shares), in
that order.
Indiabulls Securities, which was spun off from Indiabulls Financial
Services in January, settled at Rs 99.05 on BSE, as against base
price of Rs 380, on its debut today. The stock hit a high and low
of Rs 300 and Rs 96.20 respectively during the day. Indiabulls
Financial Services, had allotted one share of Indiabulls Securities
for every share held.
Among the side counters, Global Vectra Helicorp (up 19.97% to Rs
78.10), Classic Diamonds (up 20% to Rs 75.75), and Haldyn Glass
Gujarat (up 20% to Rs 78.05), surged.
GSS America Systems (down 20% to Rs 623.10), Bosch Chasiss Systems
(down 10% to Rs 559.75), ETC Networks (down 11.95% to Rs 261.95),
and (down 9.94% to Rs 41.70), slipped
Cement shares gained on reports that they have raised prices in the
range of 3% to 4% across the country. Ultratech Cement (up 5.53% to
Rs 804), India Cements (up 2.05% to Rs 189.25), Birla Corporation
(up 0.13% to Rs 198.50), ACC (up 0.89% to Rs 833.10) and Deccan
Cement (up 1.61% to Rs 259) edged higher.
Prices were increased because of the rise in production cost. The
cement price is now Rs 258 per 50 kilogram bag in Mumbai.
Steel Strips Wheels gained 3.62% to Rs 174.70 after the company
said it has bagged an export order worth Rs 110 crore from Renault,
France for supply of one million steel wheel rims over five years.
Gujarat Gas Company dipped 2.97% to Rs 227.30. The company said it
has signed a contract for supply of 2.13 million cubic metres of
gas per day with GAIL (India). The company made this announcement
after trading hours on Tuesday, 1 April 2008.
BEML gained 1.45% to Rs 989 on achieving a provisional turnover of
Rs 3005 crore with 15.5% growth and profit before tax of Rs 350
crore with 11% growth in the financial year 2007-08 over 2006-07.
The company made this announcement before trading hours today, 2
April 2008. The order book of the company stands at Rs 3,795 crore.
GAIL India gained 2.56% to Rs 433.05 after the company said on
Tuesday, 1 April 2008, it has signed contracts for marketing the
entire volume of gas produced from the Panna-Mukta and Tapti
fields.
Shree Cement declined 1.40% to Rs 1060. The company's cement
shipments jumped 60.08% to 7,54,000 tonnes in March 2008 over March
2007.
Kilburn Engineering advanced 6% to Rs 44.25 after the company said
it has received an order worth Rs 11 crore from GHCL for
manufacture of calciner.
The sharp rise in inflation has been a cause of concern, which has
now risen above the Reserve Bank of India's caution limit of 5%.
India's wholesale price index surged to 13-month to 6.68% in the 12
months to 15 March 2008, surging from the previous week's rise of
5.92%, government data showed on Friday, 28 March 2008.
Finance minister P Chidambaram on 31 March 2008 announced a slew of
measures, in an attempt to rein in commodity prices. The measures
announced by Chidambaram include a total ban on non-basmati rice
exports, a reduction in import duty on edible oils, allowing states
to impose stock limits with traders, and also warning the steel
lobby to hold the priceline, no matter the consequences.
The market sentiment may remain edgy in near term as Indian
companies are sitting on huge potential losses on account of the
forex derivative transactions they undertook last year. A steep
decline in the value of the US dollar against the Japanese Yen and
the Swiss Franc has hit Indian corporates which have used these two
currencies (Yen and Franc) extensively to swap their rupee
denominated debt.
heavyweights Reliance Industries, ICICI Bank and L&T, gave up
initial gains. The Sensex, which had surged past 16,000 mark in
early trade, fell below that level later. Nevertheless, the market
breadth remained strong. 16 shares advanced from the 30-member
Sensex pack.
Sensex settled 123.78 points or 0.79% higher at 15,750.40. Sensex
gained 92.85 points at day's low of 15,719.47 hit in late trade.
Sensex opened with an upward gap of 396.68 points at 16,023.30 and
advanced further to hit a high of 16,236.70 in early trade. At the
day's high, the Sensex rose 610.08 points. It oscillated in a band
of 517.30 points in volatile trade
The broader based S&P CNX Nifty was up 14.65 points or 0.31% at
4,754.20. Nifty April 2008 futures were at 4741.15, a discount of
13.05 points as compared to spot closing.
Strong cues from global markets had boosted domestic bourses
earlier in the day. US stocks rallied on Tuesday, 1 April 2008,
after Lehman Brothers said it raised $4 billion in an offering of
convertible preferred shares, which soothed fears it was heading
for a fate similar to that of Bear Stearns. European markets, which
opened after Indian market, were in green. Asian markets, which
opened before Indian market Indian market, surged.
The market breadth was strong on BSE: 1734 shares advanced as
compared to 938 that declined. 50 shares remained unchanged.
The BSE Mid-Cap index rose 0.08% to 6,400.37 and the BSE Small-Cap
index advanced 0.51% to 7,901.91, as per provisional closing. Both
these indices underperformed the Sensex.
The total turnover amounted to Rs 4769 crore on BSE as compared to
Rs 4,718 crore yesterday, 1 April 2008
Total turnover in NSE's futures options segment amounted to Rs
34170.35 crore as compared to Rs 35886.84 crore yesterday, 1 April
2008
The BSE Consumer Durables index (up 0.80% to 3,917.70), the BSE IT
index (up 2.93% to 3,644.35), the BSE Auto (up 1.56% at 4,539.52),
the BSE Bankex (up 2.34% at 7,822.56), the BSE Health Care index
(up 0.82% at 3,862.83), the BSE TecK index (up 2.04% to 3,078.22),
outperformed the Sensex
The BSE Metal index (down 2.15% to 13,516.89), the BSE FMCG index
(down 0.79% at 2,318.80), the BSE Oil & Gas index (down 0.25% to
10,328.08), the BSE Realty index (up 0.46% at 7,501.17), the BSE
Power (down 0.49% to 3,137.12), the BSE Capital Goods index (down
0.46% at 13,498.15), and the BSE PSU index (down 0.11% to
7,387.62), underperformed the Sensex
IT pivotals advanced on fresh buying. India's second largest
software services exporter Infosys Technologies surged 4.34% to Rs
1483 on 1.66 lakh shares. It was the top gainer from Sensex pack.
Other IT pivotals, Wipro (up 1.10% to Rs 413.50), Satyam Computer
Services (up 1.91% to Rs 405), and TCS (up 2.06% to Rs 852),
advanced.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries eased sharply
from day's high of Rs 2455. It settled 0.22% lower at Rs 2340 on
13.27 lakh shares. The company said on Tuesday, 1 April 2008, it
had discovered more gas in an exploration block off the east coast.
The potential commercial interest of the discovery is being
ascertained through more data gathering and analysis, the company
said in a statement.
Jaiprakash Associates (up 2.51% to Rs 231, off day's high of Rs
240.95), HDFC (up 3.82% to Rs 2450, off day's high of Rs 2524.70)
and Bharti Airtel (up 1.32% to Rs 815.25, off day's high of Rs
839), though up pared early gains.
Banking shares gained on fresh buying. India's largest private
sector bank in terms of net profit ICICI Bank advanced 3.93% to Rs
786.25. The stock came off session's high of Rs 815. The bank's
American Depository Receipt (ADR) jumped 8% yesterday, 1 April
2008, on the New York Stock Exchange (NYSE).
Other banking shares, State Bank of India (up 1.51% to Rs 1649),
and HDFC Bank (up 0.45% to Rs 1314), also logged gains
India's top tractor marker in terms of sales, Mahindra & Mahindra
(M&M) rose 2.61% to Rs 667.25 after it said on Tuesday, 1 April
2008, its vehicle sales rose 20% to 24,682 units in March 2008 over
March 2007. M&M's sales rose 30% to 2,31,355 vehicles, in the
financial year to March 2008 over the financial year to March 2007.
India's top truck marker in terms of sales, Tata Motors rose 1.51%
to Rs 636.90 after it said on Tuesday, its vehicle sales 6% to
66,495 units in March 2008 over March 2007. Sales of commercial
vehicles rose 17% to 35,993 units and sales of cars and utility
vehicles fell 4% to 24,737. Exports fell 9% to 5,765 vehicles
India's largest private sector power utility company in terms of
sales, Reliance Energy slumped 5.15% to Rs 1222 on 9.22 lakh
shares. It was the top loser from Sensex pack.
Steel stocks declined on reports that the government has asked
steel makers to cut prices by 10% to 20%, failing which it may take
a host of fiscal measures to lower prices. Tata Steel, the
country's largest private sector in terms of sales, declined 3.50%
to Rs 644
Other steel manufacturers JSW Steel (down 4.93% to Rs 785), Steel
Authority of India (down 4.13% to Rs 167.30), and Jindal Steel &
Power (down 2.36% to Rs 1965), declined. As per reports, the
government has asked steel makers to cut prices by 10% to 20%,
failing which it may take a host of fiscal measures to lower
prices.
Bharat Heavy Electricals (down 2% to Rs 1854), and ITC (down 2.18%
to Rs 206.55), edged lower from Sensex pack.
India's biggest engineering & construction firm by revenue L&T lost
1.1% to Rs 2861.25. The stock came off session's high of Rs 3069.90
GSS America Systems was the top traded counter on BSE with turnover
of Rs 344.18 crore followed by Reliance Industries (Rs 318.62
crore), Reliance Capital (Rs 277.80 crore), Essar Oil (Rs 209.51
crore), and Reliance Petroleum (Rs 207.35 crore), in that order
Indiabulls Securities topped volumes chart clocking volumes of 1.50
crore shares followed by Reliance Petroleum (1.22 crore shares),
Kashyap Technologies (1.10 crore shares), Reliance Natural
Resources (1.02 crore shares) and Essar Oil (95.50 lakh shares), in
that order.
Indiabulls Securities, which was spun off from Indiabulls Financial
Services in January, settled at Rs 99.05 on BSE, as against base
price of Rs 380, on its debut today. The stock hit a high and low
of Rs 300 and Rs 96.20 respectively during the day. Indiabulls
Financial Services, had allotted one share of Indiabulls Securities
for every share held.
Among the side counters, Global Vectra Helicorp (up 19.97% to Rs
78.10), Classic Diamonds (up 20% to Rs 75.75), and Haldyn Glass
Gujarat (up 20% to Rs 78.05), surged.
GSS America Systems (down 20% to Rs 623.10), Bosch Chasiss Systems
(down 10% to Rs 559.75), ETC Networks (down 11.95% to Rs 261.95),
and (down 9.94% to Rs 41.70), slipped
Cement shares gained on reports that they have raised prices in the
range of 3% to 4% across the country. Ultratech Cement (up 5.53% to
Rs 804), India Cements (up 2.05% to Rs 189.25), Birla Corporation
(up 0.13% to Rs 198.50), ACC (up 0.89% to Rs 833.10) and Deccan
Cement (up 1.61% to Rs 259) edged higher.
Prices were increased because of the rise in production cost. The
cement price is now Rs 258 per 50 kilogram bag in Mumbai.
Steel Strips Wheels gained 3.62% to Rs 174.70 after the company
said it has bagged an export order worth Rs 110 crore from Renault,
France for supply of one million steel wheel rims over five years.
Gujarat Gas Company dipped 2.97% to Rs 227.30. The company said it
has signed a contract for supply of 2.13 million cubic metres of
gas per day with GAIL (India). The company made this announcement
after trading hours on Tuesday, 1 April 2008.
BEML gained 1.45% to Rs 989 on achieving a provisional turnover of
Rs 3005 crore with 15.5% growth and profit before tax of Rs 350
crore with 11% growth in the financial year 2007-08 over 2006-07.
The company made this announcement before trading hours today, 2
April 2008. The order book of the company stands at Rs 3,795 crore.
GAIL India gained 2.56% to Rs 433.05 after the company said on
Tuesday, 1 April 2008, it has signed contracts for marketing the
entire volume of gas produced from the Panna-Mukta and Tapti
fields.
Shree Cement declined 1.40% to Rs 1060. The company's cement
shipments jumped 60.08% to 7,54,000 tonnes in March 2008 over March
2007.
Kilburn Engineering advanced 6% to Rs 44.25 after the company said
it has received an order worth Rs 11 crore from GHCL for
manufacture of calciner.
The sharp rise in inflation has been a cause of concern, which has
now risen above the Reserve Bank of India's caution limit of 5%.
India's wholesale price index surged to 13-month to 6.68% in the 12
months to 15 March 2008, surging from the previous week's rise of
5.92%, government data showed on Friday, 28 March 2008.
Finance minister P Chidambaram on 31 March 2008 announced a slew of
measures, in an attempt to rein in commodity prices. The measures
announced by Chidambaram include a total ban on non-basmati rice
exports, a reduction in import duty on edible oils, allowing states
to impose stock limits with traders, and also warning the steel
lobby to hold the priceline, no matter the consequences.
The market sentiment may remain edgy in near term as Indian
companies are sitting on huge potential losses on account of the
forex derivative transactions they undertook last year. A steep
decline in the value of the US dollar against the Japanese Yen and
the Swiss Franc has hit Indian corporates which have used these two
currencies (Yen and Franc) extensively to swap their rupee
denominated debt.
Wednesday, April 2, 2008
Market spurts in opening trade
The market breadth was strong. All the 30 Sensex stocks advanced.
At 10:24 IST, the 30-share BSE Sensex was up 524.42 points or 3.36% at 16,151.53. It opened with an upward gap of 396.68 points at 16,023.30 and advanced further to hit a high of 16,236.70 in early trade. At the day’s high, the Sensex rose 610.08 points.
The broader based S&P CNX Nifty was up 139.65 points or 2.95% at 4,879.20.
The market breadth was strong: On BSE 1,628 shares advanced as compared to 144 that declined. 19 shares remained unchanged.
The total turnover amounted to Rs 719 crore on BSE by 10:30 IST.
India’s largest private sector bank in terms of net profit ICICI Bank surged 6.56% to Rs 807.05 on 2.26 lakh shares. It was the top gainer from Sensex pack. The bank’s American Depository Receipt (ADR) jumped 8% yesterday, 1 April 2008, on the New York Stock Exchange (NYSE).
Other shares from banking sectors, State Bank of India (up 4.28% to Rs 1694), and HDFC Bank (up 4.12% to Rs 1362), also logged gains
Jairprakash Associates (up 5.84% to Rs 238.70), Infosys Technologies (up 4.69% to Rs 1488) and DLF (up 4.31% to Rs 654) edged higher from Sensex pack.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries rose 3.48% to Rs 2425.15 on 2.33 lakh shares. The stock moved in a range of Rs 2400 and Rs 2438 so far during the day. The company said on Tuesday, 1 April 2008, it had discovered more gas in an exploration block off the east coast. The potential commercial interest of the discovery is being ascertained through more data gathering and analysis, the company said in a statement.
Among the side counters, AK Capital Services (up 13.27% to Rs 271.85), Atul Auto (up 14.13% to Rs 68.20), and Gandhi Special Tubes (up 10% to Rs 100.65), surged.
The sharp rise in inflation has been a cause of concern, which has now risen above the Reserve Bank of India’s caution limit of 5%. India's wholesale price index surged to 13-month to 6.68% in the 12 months to 15 March 2008, surging from the previous week's rise of 5.92%, government data showed on Friday, 28 March 2008.
Finance minister P Chidambaram on 31 March 2008 announced a slew of measures, in an attempt to rein in commodity prices. The measures announced by Chidambaram include a total ban on non-basmati rice exports, a reduction in import duty on edible oils, allowing states to impose stock limits with traders, and also warning the steel lobby to hold the priceline, no matter the consequences.
At 10:24 IST, the 30-share BSE Sensex was up 524.42 points or 3.36% at 16,151.53. It opened with an upward gap of 396.68 points at 16,023.30 and advanced further to hit a high of 16,236.70 in early trade. At the day’s high, the Sensex rose 610.08 points.
The broader based S&P CNX Nifty was up 139.65 points or 2.95% at 4,879.20.
The market breadth was strong: On BSE 1,628 shares advanced as compared to 144 that declined. 19 shares remained unchanged.
The total turnover amounted to Rs 719 crore on BSE by 10:30 IST.
India’s largest private sector bank in terms of net profit ICICI Bank surged 6.56% to Rs 807.05 on 2.26 lakh shares. It was the top gainer from Sensex pack. The bank’s American Depository Receipt (ADR) jumped 8% yesterday, 1 April 2008, on the New York Stock Exchange (NYSE).
Other shares from banking sectors, State Bank of India (up 4.28% to Rs 1694), and HDFC Bank (up 4.12% to Rs 1362), also logged gains
Jairprakash Associates (up 5.84% to Rs 238.70), Infosys Technologies (up 4.69% to Rs 1488) and DLF (up 4.31% to Rs 654) edged higher from Sensex pack.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries rose 3.48% to Rs 2425.15 on 2.33 lakh shares. The stock moved in a range of Rs 2400 and Rs 2438 so far during the day. The company said on Tuesday, 1 April 2008, it had discovered more gas in an exploration block off the east coast. The potential commercial interest of the discovery is being ascertained through more data gathering and analysis, the company said in a statement.
Among the side counters, AK Capital Services (up 13.27% to Rs 271.85), Atul Auto (up 14.13% to Rs 68.20), and Gandhi Special Tubes (up 10% to Rs 100.65), surged.
The sharp rise in inflation has been a cause of concern, which has now risen above the Reserve Bank of India’s caution limit of 5%. India's wholesale price index surged to 13-month to 6.68% in the 12 months to 15 March 2008, surging from the previous week's rise of 5.92%, government data showed on Friday, 28 March 2008.
Finance minister P Chidambaram on 31 March 2008 announced a slew of measures, in an attempt to rein in commodity prices. The measures announced by Chidambaram include a total ban on non-basmati rice exports, a reduction in import duty on edible oils, allowing states to impose stock limits with traders, and also warning the steel lobby to hold the priceline, no matter the consequences.
Pre Market Report 02-Apr-2008
Local market may rally today, led by strong global cues. Union Bank of Singapore (UBS) sparked a rally yesterday, 1 April 2008, in Europe market on expectations that financial firms will recover from its $ 232 billion in mortgage-related losses. US markets rallied yesterday, 1 April 2008, after Lehman Brothers indicated that the bank can weather further credit losses. Asian markets were trading higher today, 2 April 2008.
Asian markets were trading higher today, 2 April 2008. Japan's Nikkei (up 3.34% at 13,079.11), Hang Seng (up 3.74% at 24,001.97), Taiwan's Taiwan Weighted (up 1.73% at 8,565.42), Singapore's Straits Times (up 2.38% at 3,119.20) and South Korea's Seoul Composite (up 2.13% at 1,738.44), edged higher.
US markets rallied yesterday, 1 April 2008, after Lehman Brothers indicated that the bank can weather further credit losses. Better-than-expected reading on the manufacturing sector also fueled gains. The ISM reported that its purchasing manager's index rose unexpectedly to 48.6 in March 2008 as compared to 48.3 in February 2008. The Dow Jones industrial average jumped 391 points to 12,654. The Nasdaq Composite index surged 84 points at 2,363 while the S&P 500 gained 47 points to 1,370.
However, the sharp rise in inflation has been a cause of concern, which has now risen above the Reserve Bank of India's caution limit of 5%. India's wholesale price index surged to 13-month to 6.68% in the 12 months to 15 March 2008, surging from the previous week's rise of 5.92%, government data showed on Friday, 28 March 2008.
Finance minister P Chidambaram yesterday, 31 March 2008 announced a slew of measures, in an attempt to rein in commodity prices. The measures announced by Chidambaram include a total ban on non-basmati rice exports, a reduction in import duty on edible oils, allowing states to impose stock limits with traders, and also warning the steel lobby to hold the priceline, no matter the consequences.
The market sentiment may remain edgy in near term as Indian companies are sitting on huge losses on account of the forex derivative transactions they undertook last year. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc has hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
Asian markets were trading higher today, 2 April 2008. Japan's Nikkei (up 3.34% at 13,079.11), Hang Seng (up 3.74% at 24,001.97), Taiwan's Taiwan Weighted (up 1.73% at 8,565.42), Singapore's Straits Times (up 2.38% at 3,119.20) and South Korea's Seoul Composite (up 2.13% at 1,738.44), edged higher.
US markets rallied yesterday, 1 April 2008, after Lehman Brothers indicated that the bank can weather further credit losses. Better-than-expected reading on the manufacturing sector also fueled gains. The ISM reported that its purchasing manager's index rose unexpectedly to 48.6 in March 2008 as compared to 48.3 in February 2008. The Dow Jones industrial average jumped 391 points to 12,654. The Nasdaq Composite index surged 84 points at 2,363 while the S&P 500 gained 47 points to 1,370.
However, the sharp rise in inflation has been a cause of concern, which has now risen above the Reserve Bank of India's caution limit of 5%. India's wholesale price index surged to 13-month to 6.68% in the 12 months to 15 March 2008, surging from the previous week's rise of 5.92%, government data showed on Friday, 28 March 2008.
Finance minister P Chidambaram yesterday, 31 March 2008 announced a slew of measures, in an attempt to rein in commodity prices. The measures announced by Chidambaram include a total ban on non-basmati rice exports, a reduction in import duty on edible oils, allowing states to impose stock limits with traders, and also warning the steel lobby to hold the priceline, no matter the consequences.
The market sentiment may remain edgy in near term as Indian companies are sitting on huge losses on account of the forex derivative transactions they undertook last year. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc has hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
Thursday, March 27, 2008
Post market report 26-03-2008
Markets give up day's gain: Metal, realty up
The market gyrated 300 points and ended with a sharp dip of over 1% on hefty selling in banking and technology stocks.
Panic selling in noon trades triggered a major correction after the market had witnessed gains of more than 150 points in the first half. Continuing with the
buoyancy, the Sensex resumed with a positive gap of 53 points at 16,270. Consumer durable stocks buying fuelled a major rally in early trades and the index zoomed above the 16,300 mark to touch a new intra-day high of 16,309. While the market stood firm thereafter, a sudden spurt in selling activities, particularly in banking, oil & gas, technology and health care sectors dragged the index just above 16,000 level to the day's low of 16,010. The Sensex finally wrapped the session with losses of 0.81% or 131 points at 16,087, while the Nifty dropped 1% or 49 points to close at 4,829.
Although the market fell sharply, the breadth of the market was positive. Of the 2,761 stocks traded on the Bombay Stock Exchange (BSE), 1,733 stocks advanced, 978 stocks declined and 50 stocks ended unchanged. Of the 13 sectoral indices trading on the BSE, seven indices ended in the red and six moved in green. The BSE CD index was the major performer on the upside and gained 1.55% at 3,830, while the BSE Metal index was up around 1% at 13,745.
Dragging the Sensex, HUL lost 4.31% at Rs234.40, ICICI Bank dropped 4.17% at Rs843, Bharti Airtel fell 3.75% at Rs803.10, DLF declined 3.07% at Rs657.80 and Jaiprakash Associates tumbled 3.02% at Rs226.05. BHEL, Reliance Coomunications, Cipla, Ambuja Cement, SBI, NTPC, Wipro and ONGC were down by nearly 1-2% each. However, Tisco advanced 3.79% at Rs657.85, HDFC scaled up 2.73% at Rs2,660, ITC added 2.09% at Rs195.10, HDFC Bank gained 1.64% at Rs1,441, Satyam jumped 0.47% at Rs413 and TCS was up nearly 0.38% at Rs879.30.
Bankex stocks declined sharply. ICICI Bank crashed by 4.17% at Rs843, UBI dropped 2.80% at Rs149.45, Bank of Baroda lost 2.19% at Rs292.75 and Canara Bank shed 1.64% at Rs225.20. SBI, Federal Bank and Oriental Bank of India slipped marginally.
Over 1.87crore Ispat Industries shares changed hands on the BSE followed by RNRL (1.58 crore shares), RPL (80 lakh shares), IFCI (75 lakh shares) and Essar Oil (72 lakh shares).
The market gyrated 300 points and ended with a sharp dip of over 1% on hefty selling in banking and technology stocks.
Panic selling in noon trades triggered a major correction after the market had witnessed gains of more than 150 points in the first half. Continuing with the
buoyancy, the Sensex resumed with a positive gap of 53 points at 16,270. Consumer durable stocks buying fuelled a major rally in early trades and the index zoomed above the 16,300 mark to touch a new intra-day high of 16,309. While the market stood firm thereafter, a sudden spurt in selling activities, particularly in banking, oil & gas, technology and health care sectors dragged the index just above 16,000 level to the day's low of 16,010. The Sensex finally wrapped the session with losses of 0.81% or 131 points at 16,087, while the Nifty dropped 1% or 49 points to close at 4,829.
Although the market fell sharply, the breadth of the market was positive. Of the 2,761 stocks traded on the Bombay Stock Exchange (BSE), 1,733 stocks advanced, 978 stocks declined and 50 stocks ended unchanged. Of the 13 sectoral indices trading on the BSE, seven indices ended in the red and six moved in green. The BSE CD index was the major performer on the upside and gained 1.55% at 3,830, while the BSE Metal index was up around 1% at 13,745.
Dragging the Sensex, HUL lost 4.31% at Rs234.40, ICICI Bank dropped 4.17% at Rs843, Bharti Airtel fell 3.75% at Rs803.10, DLF declined 3.07% at Rs657.80 and Jaiprakash Associates tumbled 3.02% at Rs226.05. BHEL, Reliance Coomunications, Cipla, Ambuja Cement, SBI, NTPC, Wipro and ONGC were down by nearly 1-2% each. However, Tisco advanced 3.79% at Rs657.85, HDFC scaled up 2.73% at Rs2,660, ITC added 2.09% at Rs195.10, HDFC Bank gained 1.64% at Rs1,441, Satyam jumped 0.47% at Rs413 and TCS was up nearly 0.38% at Rs879.30.
Bankex stocks declined sharply. ICICI Bank crashed by 4.17% at Rs843, UBI dropped 2.80% at Rs149.45, Bank of Baroda lost 2.19% at Rs292.75 and Canara Bank shed 1.64% at Rs225.20. SBI, Federal Bank and Oriental Bank of India slipped marginally.
Over 1.87crore Ispat Industries shares changed hands on the BSE followed by RNRL (1.58 crore shares), RPL (80 lakh shares), IFCI (75 lakh shares) and Essar Oil (72 lakh shares).
Wednesday, March 26, 2008
Post Market report 25.03.2008
The 30-share BSE Sensex rose 928.09 points or 6.07% to 16,217.49,
its second biggest single-day rally in points as well as percentage
terms. The index gained 972.98 points at session's high of
16,262.38, hit at the fag end of the trade.
The broader CNX S&P Nifty jumped 267.65 points or 5.81% at 4877.50.
Nifty March 2008 futures were at 4901.50, at a premium of 24 points
as compared to spot closing of 4877.50.
The Sensex has gained 9.50% or 1408 points since its recent low of
14809.49 on 17 March 2008. The strong rebound on the domestic
bourses is commendable coming in the backdrop of a recent steep
fall.
Concerns of marked-to-market losses for firms on their foreign
exchange derivatives exposure, meltdown in global markets,
lower-than-expected industrial production data for January 2008 and
a surge in inflation created havoc on the bourses recently. Hike in
short-term capital gains tax and alteration of tax treatment of the
Securities Transaction Tax (STT) in Union Budget 2008-09 announced
on 29 February 2008 had dented the sentiment earlier.
Intense buying in frontline stocks saw the Sensex breach 16,000
mark today. Buoyancy was visible across the global markets. The
rally was triggered by JP Morgan raising Bear Stearns acquisition
price by 5 times and US economic data that showed US new home sales
had risen 3% in February 2008.
In the domestic front, all the sectoral indices on BSE ended
higher. Banking, IT and realty stocks posted impressive gains.
Mid-cap and small-cap stocks surged. The market breadth was strong.
Coming back to today's trade, the BSE Mid-Cap index outperformed
the Sensex, rising 6.36% to 6,174.49. The BSE Small-Cap index
underperformed the Sensex, rising 4.81% to 7,284.64.
The market breadth was strong. On BSE, 2075 stocks advanced, 640
declined and 47 stocks were unchanged.
The BSE clocked a turnover of Rs 6836 crore as against Rs 4,682.75
on Monday, 24 March 2008.
The NSE's futures & options (F&O) segment turnover was Rs 66,627.57
crore, which was higher than Rs 42610.26 crore on Monday, 24 March
2008.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) rose 5.16% to Rs 2314.40. The
firm is reportedly evaluating a plan to set up its third refinery
at Jamnagar in an ambitious project to reach a total capacity of
100 million metric tonne per annum (mmtpa), the largest at a single
location in the world.
India's largest engineering and construction firm by revenue Larsen
& Toubro rose 3.94% to Rs 3053.
Top Sensex gainers were, Jaiprakash Associates (up 16.38% at Rs
233.10), DLF (up 13.47% at Rs 678.65), Reliance Energy (up 12.97%
at Rs 1300.15), Infosys Technologies (up 9.64% at Rs 1492.55) and
Housing Development Finance Corporation (up 8.63% at Rs 2589.75).
The BSE Bankex rose 8.10% to 8,371.34. It outperformed the Sensex.
Yes Bank (up 20.53% to Rs 172.05), Kotak Mahindra Bank (up 13.36%
to Rs 627.80), Oriental Bank of Commerce (up 11.84% to Rs 181.90),
Axis Bank (up 10.275 to Rs 792.15) and State Bank of India (up
5.75% to Rs 1,740.20), surged.
India's largest private sector bank by assets ICICI Bank soared
9.37% to Rs 879.95. The bank has reportedly entered into a Rs
1,150-crore equity-cum-debt deal with Jaypee Infratech, a unit of
Jaiprakash Associates. The bank has decided to pick up 1% stake in
Jaypee Infratech for Rs 250 crore, reports added.
The BSE IT index rose 7.73% to 3,686.35. It outperformed the
Sensex. Aptech (up 22.72% to Rs 207.15), Wipro (up 9.02% to Rs
434.70), TCS (up 6.38% to Rs 875.95), Satyam Computer (up 5.10% to
Rs 411.05) and HCL Technologies (up 4.34% to Rs 285.95), advanced.
The BSE Realty index rose 9.48% to 7,451.24. It outperformed the
Sensex. Housing Development & Infrastructure (up 13.89% to Rs
581.50), Anant Raj Industries (up 13.33% to Rs 230), Mahindra
Lifespace Developers (up 9.67% to Rs 390.15), Puravankara Projects
(up 9.59% to Rs 187.90) and Indiabulls Real Estate (up 2.91% to Rs
435.30), gained.
Among the side counters, Edelweiss Capital (up 24.24% to Rs
726.45), Indiabulls Financial Services (up 20% to Rs 415.05),
Greaves Cotton (up 20% to Rs 216), Orbit Corporation (up 20% to Rs
386.15), Gujarat Mineral Development Corporation (up 19.93% to Rs
286.45) and Reliance Capital (up 17.68% to Rs 1,328.75), surged.
Reliance Natural Resources clocked the highest volume of 2.14 crore
shares on BSE. ispat Industries (1.62 crore shares), Essar Oil
(1.14 crore shares), Reliance Petroleum (96.33 lakh shares) and
IFCI (92.34 lakh shares), these were the other volume toppers on
BSE in the order.
Axis Bank registered highest turnover of Rs 603.16 crore on BSE.
GSS America (Rs 379.56 crore), Reliance Capital (Rs 303.90 crore),
Housing Development Finance Corporation (Rs 246.36 crore) and Essar
Oil (Rs 232.46 crore), were the other turnover toppers on BSE in
that order.
Chemicals maker GHCL surged 16.28% to Rs 86.80 after the company
said it plans to spin off its home textiles and retail businesses
into separate units as part of a restructuring plan.
Software firm Prithvi Information Solutions surged 9.69% to Rs
154.50 after the software services firm said its board will
consider a share buyback proposal on 31 March 2008.
Steel pipes maker Welspun Gujarat Stahl Rohren jumped 12.93% to Rs
332.35 after the company said it has bagged pipeline orders worth
Rs 1,075 crore for the supply of spiral pipes to Northern Africa.
Apparels maker Gokaldas Exports advanced 8.73% to Rs 185 on reports
the company has secured an order to supply 2.50 lakh units of
sportswear like jumpers, track-suits & vests for the thousands of
athletes participating in Beijing Olympics.
Apparels firm Arvind Mills jumped 5.44% to Rs 36.85 after the
company said Arvind Brands a division of the company has signed an
agreement with Philips-Van Heusen Corporation for designing,
distribution & retailing of IZOD brand in India.
Future Capital Holdings, the financial services arm of the Future
Group, jumped 7.74% to Rs 589.20 after the company said its board
has approved to invest upto Rs 47.75 crore in its subsidiary Future
Finmart.
Cement maker Prism Cement soared 9.77% to Rs 42.15 after 14 lakh
shares, or 0.47% of the company's equity, changed hands in a block
deal on NSE at Rs 39.55 each.
Power equipment maker Jyoti Structures spurted 4.07% to Rs 162.30
after its secured an order worth Rs 160 crore for construction of
transmission line and sub-stations in Uganda.
its second biggest single-day rally in points as well as percentage
terms. The index gained 972.98 points at session's high of
16,262.38, hit at the fag end of the trade.
The broader CNX S&P Nifty jumped 267.65 points or 5.81% at 4877.50.
Nifty March 2008 futures were at 4901.50, at a premium of 24 points
as compared to spot closing of 4877.50.
The Sensex has gained 9.50% or 1408 points since its recent low of
14809.49 on 17 March 2008. The strong rebound on the domestic
bourses is commendable coming in the backdrop of a recent steep
fall.
Concerns of marked-to-market losses for firms on their foreign
exchange derivatives exposure, meltdown in global markets,
lower-than-expected industrial production data for January 2008 and
a surge in inflation created havoc on the bourses recently. Hike in
short-term capital gains tax and alteration of tax treatment of the
Securities Transaction Tax (STT) in Union Budget 2008-09 announced
on 29 February 2008 had dented the sentiment earlier.
Intense buying in frontline stocks saw the Sensex breach 16,000
mark today. Buoyancy was visible across the global markets. The
rally was triggered by JP Morgan raising Bear Stearns acquisition
price by 5 times and US economic data that showed US new home sales
had risen 3% in February 2008.
In the domestic front, all the sectoral indices on BSE ended
higher. Banking, IT and realty stocks posted impressive gains.
Mid-cap and small-cap stocks surged. The market breadth was strong.
Coming back to today's trade, the BSE Mid-Cap index outperformed
the Sensex, rising 6.36% to 6,174.49. The BSE Small-Cap index
underperformed the Sensex, rising 4.81% to 7,284.64.
The market breadth was strong. On BSE, 2075 stocks advanced, 640
declined and 47 stocks were unchanged.
The BSE clocked a turnover of Rs 6836 crore as against Rs 4,682.75
on Monday, 24 March 2008.
The NSE's futures & options (F&O) segment turnover was Rs 66,627.57
crore, which was higher than Rs 42610.26 crore on Monday, 24 March
2008.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) rose 5.16% to Rs 2314.40. The
firm is reportedly evaluating a plan to set up its third refinery
at Jamnagar in an ambitious project to reach a total capacity of
100 million metric tonne per annum (mmtpa), the largest at a single
location in the world.
India's largest engineering and construction firm by revenue Larsen
& Toubro rose 3.94% to Rs 3053.
Top Sensex gainers were, Jaiprakash Associates (up 16.38% at Rs
233.10), DLF (up 13.47% at Rs 678.65), Reliance Energy (up 12.97%
at Rs 1300.15), Infosys Technologies (up 9.64% at Rs 1492.55) and
Housing Development Finance Corporation (up 8.63% at Rs 2589.75).
The BSE Bankex rose 8.10% to 8,371.34. It outperformed the Sensex.
Yes Bank (up 20.53% to Rs 172.05), Kotak Mahindra Bank (up 13.36%
to Rs 627.80), Oriental Bank of Commerce (up 11.84% to Rs 181.90),
Axis Bank (up 10.275 to Rs 792.15) and State Bank of India (up
5.75% to Rs 1,740.20), surged.
India's largest private sector bank by assets ICICI Bank soared
9.37% to Rs 879.95. The bank has reportedly entered into a Rs
1,150-crore equity-cum-debt deal with Jaypee Infratech, a unit of
Jaiprakash Associates. The bank has decided to pick up 1% stake in
Jaypee Infratech for Rs 250 crore, reports added.
The BSE IT index rose 7.73% to 3,686.35. It outperformed the
Sensex. Aptech (up 22.72% to Rs 207.15), Wipro (up 9.02% to Rs
434.70), TCS (up 6.38% to Rs 875.95), Satyam Computer (up 5.10% to
Rs 411.05) and HCL Technologies (up 4.34% to Rs 285.95), advanced.
The BSE Realty index rose 9.48% to 7,451.24. It outperformed the
Sensex. Housing Development & Infrastructure (up 13.89% to Rs
581.50), Anant Raj Industries (up 13.33% to Rs 230), Mahindra
Lifespace Developers (up 9.67% to Rs 390.15), Puravankara Projects
(up 9.59% to Rs 187.90) and Indiabulls Real Estate (up 2.91% to Rs
435.30), gained.
Among the side counters, Edelweiss Capital (up 24.24% to Rs
726.45), Indiabulls Financial Services (up 20% to Rs 415.05),
Greaves Cotton (up 20% to Rs 216), Orbit Corporation (up 20% to Rs
386.15), Gujarat Mineral Development Corporation (up 19.93% to Rs
286.45) and Reliance Capital (up 17.68% to Rs 1,328.75), surged.
Reliance Natural Resources clocked the highest volume of 2.14 crore
shares on BSE. ispat Industries (1.62 crore shares), Essar Oil
(1.14 crore shares), Reliance Petroleum (96.33 lakh shares) and
IFCI (92.34 lakh shares), these were the other volume toppers on
BSE in the order.
Axis Bank registered highest turnover of Rs 603.16 crore on BSE.
GSS America (Rs 379.56 crore), Reliance Capital (Rs 303.90 crore),
Housing Development Finance Corporation (Rs 246.36 crore) and Essar
Oil (Rs 232.46 crore), were the other turnover toppers on BSE in
that order.
Chemicals maker GHCL surged 16.28% to Rs 86.80 after the company
said it plans to spin off its home textiles and retail businesses
into separate units as part of a restructuring plan.
Software firm Prithvi Information Solutions surged 9.69% to Rs
154.50 after the software services firm said its board will
consider a share buyback proposal on 31 March 2008.
Steel pipes maker Welspun Gujarat Stahl Rohren jumped 12.93% to Rs
332.35 after the company said it has bagged pipeline orders worth
Rs 1,075 crore for the supply of spiral pipes to Northern Africa.
Apparels maker Gokaldas Exports advanced 8.73% to Rs 185 on reports
the company has secured an order to supply 2.50 lakh units of
sportswear like jumpers, track-suits & vests for the thousands of
athletes participating in Beijing Olympics.
Apparels firm Arvind Mills jumped 5.44% to Rs 36.85 after the
company said Arvind Brands a division of the company has signed an
agreement with Philips-Van Heusen Corporation for designing,
distribution & retailing of IZOD brand in India.
Future Capital Holdings, the financial services arm of the Future
Group, jumped 7.74% to Rs 589.20 after the company said its board
has approved to invest upto Rs 47.75 crore in its subsidiary Future
Finmart.
Cement maker Prism Cement soared 9.77% to Rs 42.15 after 14 lakh
shares, or 0.47% of the company's equity, changed hands in a block
deal on NSE at Rs 39.55 each.
Power equipment maker Jyoti Structures spurted 4.07% to Rs 162.30
after its secured an order worth Rs 160 crore for construction of
transmission line and sub-stations in Uganda.
Sensex clocks 2nd highest point gain
It was a day of absolute strength for the markets as they closed near the high point of the day breaching some important psychological levels. Sensex has breached 16,000 mark while the Nifty closed above 4850 levels. Both Sensex and Nifty up 6% each. It was the second biggest single day point gain for Sensex. Heavy buying was seen in scrips across sectors.
The broader markets are also following the suit and the midcap index closed with a bump up of 6%.
All the BSE sector indices closed in green; IT, realty, bank stocks were among the top gainers of the day.
The cues from global peers were encouraging as most of the Asian markets ended in green as US market picked up another triple-digit gain yesterday with the Dow gaining 187 points.
JP Associates, Reliance Energy, DLF, Unitech, ICICI Bank, Tata Power, TCS Infosys, Satyam, Reliance Communication, Tata Steel, SAIL, were among the gainers.HCL Tech, HDFC Bank, BHEL, ABB, L&T, Hindalco also ended higher
The broader markets are also following the suit and the midcap index closed with a bump up of 6%.
All the BSE sector indices closed in green; IT, realty, bank stocks were among the top gainers of the day.
The cues from global peers were encouraging as most of the Asian markets ended in green as US market picked up another triple-digit gain yesterday with the Dow gaining 187 points.
JP Associates, Reliance Energy, DLF, Unitech, ICICI Bank, Tata Power, TCS Infosys, Satyam, Reliance Communication, Tata Steel, SAIL, were among the gainers.HCL Tech, HDFC Bank, BHEL, ABB, L&T, Hindalco also ended higher
Market sustains the gain
It has been a day of absolute strength for markets led by the frontliners. Heavy buying seen in scrips across sectors. Both Sensex and Nifty up 6% each. The broader markets are also follwing the suit and the midcap index is trading with a bump up of 6%. Sensex has breached 16,000 mark while the Nifty is above 4800 levels.
At 14.59 hrs IST, the Sensex is up 806.82 points or 5.28% at 16096.22, and the Nifty up 253.45 points or 5.50% at 4863.30.
About 2098 shares have advanced, 894 shares declined, and 68 shares are unchanged.The breadth is positive with midcap and smallcap indices trading firm. All the BSE sector indices are in green; IT, realty, bank stocks are among the top gainers of the day.
BSE Realty index is up 7.5%; BSE bankex is up 6%, midcap index index is up 4.2% and smallcap index is up 3.5%.
Most of the Asian markets ended in green as US market picked up another triple-digit gain yesterday with the Dow gaining 187 points.
Top gainers on the Sensex are ICICI Bank at Rs 880.00 up 9.38%, HDFC at Rs 2,586.00 up 8.47% and Infosys at Rs 1,460.05 up 7.25%.
Top gainers on the Nifty are HDFC at Rs 2,616.00 up 9.93%, Unitech at Rs 276.35 up 9.16% and Tata Power at Rs 1,191.00 up 8.83%.
Most active shares on BSE are Axis Bank, HDFC and GSS America Inf.
Top percentage losers on the BSE are IOL Netcom, Securities Cap and Trishakti Elect up 10% each.
At 14.59 hrs IST, the Sensex is up 806.82 points or 5.28% at 16096.22, and the Nifty up 253.45 points or 5.50% at 4863.30.
About 2098 shares have advanced, 894 shares declined, and 68 shares are unchanged.The breadth is positive with midcap and smallcap indices trading firm. All the BSE sector indices are in green; IT, realty, bank stocks are among the top gainers of the day.
BSE Realty index is up 7.5%; BSE bankex is up 6%, midcap index index is up 4.2% and smallcap index is up 3.5%.
Most of the Asian markets ended in green as US market picked up another triple-digit gain yesterday with the Dow gaining 187 points.
Top gainers on the Sensex are ICICI Bank at Rs 880.00 up 9.38%, HDFC at Rs 2,586.00 up 8.47% and Infosys at Rs 1,460.05 up 7.25%.
Top gainers on the Nifty are HDFC at Rs 2,616.00 up 9.93%, Unitech at Rs 276.35 up 9.16% and Tata Power at Rs 1,191.00 up 8.83%.
Most active shares on BSE are Axis Bank, HDFC and GSS America Inf.
Top percentage losers on the BSE are IOL Netcom, Securities Cap and Trishakti Elect up 10% each.
markets continue to trade stronger
The markets continue to trade stronger and stronger as all BSE sectoral indices witnessing buying interest. The realty and banking indices have outperformed the other sectoral indices up nearly 8% each. BSE Sensex's all 30 stocks are trading in green.
At 1.15 pm, the Sensex is up 860.86 points or 5.63% at 16150.26, and the Nifty up 243.75 points or 5.29% at 4853.60.
Market breadth was positive about 2055 shares have advanced, 949 shares declined, and 56 shares are unchanged.
Top gainers on the Sensex are ICICI Bank at Rs 880.00 up 9.38%, HDFC at Rs 2,586.00 up 8.47% and Infosys at Rs 1,460.05 up 7.25%.
Top gainers on the Nifty are HDFC at Rs 2,616.00 up 9.93%, Unitech at Rs 276.35 up 9.16% and Tata Power at Rs 1,191.00 up 8.83%.
Most active shares on BSE are Axis Bank, HDFC and GSS America Inf.
Top percentage losers on the BSE are IOL Netcom, Securities Cap and Trishakti Elect up 10% each.
At 1.15 pm, the Sensex is up 860.86 points or 5.63% at 16150.26, and the Nifty up 243.75 points or 5.29% at 4853.60.
Market breadth was positive about 2055 shares have advanced, 949 shares declined, and 56 shares are unchanged.
Top gainers on the Sensex are ICICI Bank at Rs 880.00 up 9.38%, HDFC at Rs 2,586.00 up 8.47% and Infosys at Rs 1,460.05 up 7.25%.
Top gainers on the Nifty are HDFC at Rs 2,616.00 up 9.93%, Unitech at Rs 276.35 up 9.16% and Tata Power at Rs 1,191.00 up 8.83%.
Most active shares on BSE are Axis Bank, HDFC and GSS America Inf.
Top percentage losers on the BSE are IOL Netcom, Securities Cap and Trishakti Elect up 10% each.
Sensex breaches 16000; Nifty above 4600
It has been a day of absolute strength for markets led by the frontliners. Heavy buying seen in scrips across sectors. Both Sensex and Nifty up over 4.5% each. The broader markets are also follwing the suit and the midcap index is trading with a bump up of 4%. Sensex has breached 16,000 mark while the Nifty is above 4800 levels.
The breadth is positive with midcap and smallcap indices trading firm. All the BSE sector indices are in green; IT, realty, bank stocks are among the top gainers of the day.
BSE Realty index is up 7.5%; BSE bankex is up 6%, midcap index index is up 4.2% and smallcap index is up 3.5%.
Most of the Asian markets ended in green as US market picked up another triple-digit gain yesterday with the Dow gaining 187 points.
At 12.23 hrs IST, the Sensex is up 692.62 points or 4.53% at 15982.02, and the Nifty up 206.50 points or 4.48% at 4816.35.
About 1950 shares have advanced, 1051 shares declined, and 59 shares are unchanged.
JP Associates, Reliance Energy up over 10%, followed by DLF, Unitech, ICICI Bank, Tata Power, TCS were up 8% each. Infosys, Satyam, Reliance Communication were up over 6%. Tata Steel, SAIL, Unitech are among the gainers up over 5% each.
HCL Tech, HDFC Bank, BHEL, ABB, L&T, Hindalco were among the other gainers.
Axis, DLF, JP Associates, HDFC, Reliance and ICICI Bank are among the most active stocks on the bourses.
The breadth is positive with midcap and smallcap indices trading firm. All the BSE sector indices are in green; IT, realty, bank stocks are among the top gainers of the day.
BSE Realty index is up 7.5%; BSE bankex is up 6%, midcap index index is up 4.2% and smallcap index is up 3.5%.
Most of the Asian markets ended in green as US market picked up another triple-digit gain yesterday with the Dow gaining 187 points.
At 12.23 hrs IST, the Sensex is up 692.62 points or 4.53% at 15982.02, and the Nifty up 206.50 points or 4.48% at 4816.35.
About 1950 shares have advanced, 1051 shares declined, and 59 shares are unchanged.
JP Associates, Reliance Energy up over 10%, followed by DLF, Unitech, ICICI Bank, Tata Power, TCS were up 8% each. Infosys, Satyam, Reliance Communication were up over 6%. Tata Steel, SAIL, Unitech are among the gainers up over 5% each.
HCL Tech, HDFC Bank, BHEL, ABB, L&T, Hindalco were among the other gainers.
Axis, DLF, JP Associates, HDFC, Reliance and ICICI Bank are among the most active stocks on the bourses.
Performance of 25th march calls
RPL target 152/155/159 high 155.00
RPOWER target 315/321/325 high 318.85
RNRL 98/100/103 high 101.00
Buy ICICI Bank around 815 SL 795 high 868.00
ESSAR OIL 189/202/205 high 208.00
WIPRO 400/402/410 high 419.40
SATYAM 395/398/402 high 417.00
HDFC BANK 1350/1366/1375 high 1,400.00
ISPAT 27.5/29/30 high 29.55
RCOM Target 512/520/522 high 536.90
IFCI target 40/42 high 41.40
Sell HDFC bank@1390 target 1,385/1,380 low 1380
RPOWER target 315/321/325 high 318.85
RNRL 98/100/103 high 101.00
Buy ICICI Bank around 815 SL 795 high 868.00
ESSAR OIL 189/202/205 high 208.00
WIPRO 400/402/410 high 419.40
SATYAM 395/398/402 high 417.00
HDFC BANK 1350/1366/1375 high 1,400.00
ISPAT 27.5/29/30 high 29.55
RCOM Target 512/520/522 high 536.90
IFCI target 40/42 high 41.40
Sell HDFC bank@1390 target 1,385/1,380 low 1380
Tuesday, March 25, 2008
Calls perforamnce
RPL target 152/155/159 high 154.90
RPOWER target 315/321/325 high 315.75
RNRL 98/100/103 high 101.00
Buy ICICI Bank around 815 SL 795 high 852.00
ESSAR OIL 189/202/205 high 208.00
WIPRO 400/402/410 high 416.80
SATYAM 395/398/402 high 409.00
HDFC BANK 1350/1366/1375 high 1,397.90
ISPAT 27.5/29/30 high 28.55
RCOM Target 512/520/522 high 527.85
IFCI target 40/42 high 41.40
RPOWER target 315/321/325 high 315.75
RNRL 98/100/103 high 101.00
Buy ICICI Bank around 815 SL 795 high 852.00
ESSAR OIL 189/202/205 high 208.00
WIPRO 400/402/410 high 416.80
SATYAM 395/398/402 high 409.00
HDFC BANK 1350/1366/1375 high 1,397.90
ISPAT 27.5/29/30 high 28.55
RCOM Target 512/520/522 high 527.85
IFCI target 40/42 high 41.40
Market trades higher
The markets are trading strong on the back of encouraging global cues. Nifty is trading with gains of over 100 points and it is 400 points plus gain for the Sensex. The breadth is positive with midcap and smallcap indices trading firm. All the BSE sector indices are in green; IT, realty, bank stocks are among the top gainers of the day.
At 10.06 hrs IST, the Sensex is up 378.97 points or 2.48% at 15668.37, and the Nifty up 133.85 points or 2.90% at 4743.70.
About 1271 shares have advanced, 1725 shares declined, and 64 shares are unchanged.
Reliance Energy, HCL Tech, Unitech, DLF, ICICI Bank, Infosys, HDFC Bank, BHEL, ABB, L&T, Tata Steel, Hindalco were among the gainers.
Rupee is trading strong at Rs 40.13 per dollar
At 10.06 hrs IST, the Sensex is up 378.97 points or 2.48% at 15668.37, and the Nifty up 133.85 points or 2.90% at 4743.70.
About 1271 shares have advanced, 1725 shares declined, and 64 shares are unchanged.
Reliance Energy, HCL Tech, Unitech, DLF, ICICI Bank, Infosys, HDFC Bank, BHEL, ABB, L&T, Tata Steel, Hindalco were among the gainers.
Rupee is trading strong at Rs 40.13 per dollar
Pre Market Report 25/03/2008 - Stock tips
The market may advance tracking rally in US markets yesterday, 24 March 2008. Asian markets were trading mixed today. Volatility may increase on the bourses this week ahead of the expiry of March 2008 derivative contracts on Thursday, 27 March 2008. As per reports, the marketwide rollover of derivative positions from March 2008 series to April 2008 series stood at 21%, while that of Nifty was 28%.
The sharp rise in inflation may be a cause of concern, which has now risen above the Reserve Bank of India's caution limit of 5%. As per data released on Thursday, 20 March 2008, inflation had surged to over 11-month high of 5.92% for the week ended 8 March 2008 as essential items like fruits and vegetables and pulses as well as some manufactured items turned expensive. The wholesale prices-based inflation stood at 5.11% in the previous week corresponding week.
Tips for today
RPL target 152/155/159
RPOWER target 315/321/325
Buy ICICI Bank around 815 SL 795
ESSAR OIL 189/202/205
WIPRO 400/402/410
SATYAM 395/398/402
HDFC BANK 1350/1366/1375
RNRL 98/100/103
ISPAT 27.5/29/30
RCOM Target 512/520/522
IFCI target 40/42
Dont carry huge positions trade with strict SL
The sharp rise in inflation may be a cause of concern, which has now risen above the Reserve Bank of India's caution limit of 5%. As per data released on Thursday, 20 March 2008, inflation had surged to over 11-month high of 5.92% for the week ended 8 March 2008 as essential items like fruits and vegetables and pulses as well as some manufactured items turned expensive. The wholesale prices-based inflation stood at 5.11% in the previous week corresponding week.
Tips for today
RPL target 152/155/159
RPOWER target 315/321/325
Buy ICICI Bank around 815 SL 795
ESSAR OIL 189/202/205
WIPRO 400/402/410
SATYAM 395/398/402
HDFC BANK 1350/1366/1375
RNRL 98/100/103
ISPAT 27.5/29/30
RCOM Target 512/520/522
IFCI target 40/42
Dont carry huge positions trade with strict SL
Indain Market view
After Us closing +ve and Asian markets opening in green its turn of indian market to show some more positive movement. Indian market-Sensex alreay closed in +ve for continues 3 days. Today it wil open gap up atleast by some 30-50 points in nifty.
BSE: a gap up opening expected near 15467 for a Target 15575 and 15625.
Any upmoves likely to face strong resistances @ 15500-15800, 16200-16600 levels.
Mixed sentiments as the F&O expiry & financial year ending are near and a positive global market cue. So dont carry huge postions.
IT stocks to do well along with the banking stocks like SBI, ICICI.
BSE: a gap up opening expected near 15467 for a Target 15575 and 15625.
Any upmoves likely to face strong resistances @ 15500-15800, 16200-16600 levels.
Mixed sentiments as the F&O expiry & financial year ending are near and a positive global market cue. So dont carry huge postions.
IT stocks to do well along with the banking stocks like SBI, ICICI.
Asian Markets on high node
After US closing +ve, its turn of Asian markets to carry on this positive things.
Nikkei 225 12,646.33 +166.24 +1.33%
Hang Seng 21,953.10 +844.88 +4.00%
Straits Times 2,991.48 +63.69 +2.18%
Nikkei 225 12,646.33 +166.24 +1.33%
Hang Seng 21,953.10 +844.88 +4.00%
Straits Times 2,991.48 +63.69 +2.18%
Wall street closes on positive node
Wall Street extended its big advance Monday as investors applauded a new agreement that will give Bear Stearns Cos. shareholders five times the payout that was set in a JPMorgan Chase & Co. buyout deal a week ago
US closing
Dow 12,548.64 +187.32 +1.52%
Nasdaq 2,326.75 +68.64 +3.04%
S&P 500 1,349.88 +20.37 +1.53%
US closing
Dow 12,548.64 +187.32 +1.52%
Nasdaq 2,326.75 +68.64 +3.04%
S&P 500 1,349.88 +20.37 +1.53%
Post Market report of 24.03.2008
The 30-share BSE Sensex rose 294.57 points or 1.96% at 15,289.40.
The index gained 356.48 points at the session's high of 15,351.31,
hit at the fag end of the trading session. Sensex rose 61.26 points
at the day's low of 15,056.09 hit in the afternoon trade.
The broader CNX S&P Nifty rose 35.9 points or 0.78% at 4609.85.
The BSE Mid-cap index fell 2.66% at 5,805.53. The BSE small-cap
index was down 3.77% at 6,950.12. Both these indices underperformed
the Sensex.
The market breadth, which was negative in early trade, turned poor
as the session progressed. On BSE, 535 stocks advanced, 2149
declined and 33 stocks were unchanged.
Blue chips edged higher in volatile trading session today. After an
initial surge, the market had pared gains in afternoon trade. The
S&P CNX Nifty, had in fact, slipped into the red. A strong rebound
was witnessed in late trade. Positive cues from the global markets
supported the domestic bourses which opened after a long weekend.
However, the market breadth was weak indicating that confidence is
low among investors. Mid-cap and small-cap stocks slumped, which
was clearly reflected in the poor market breadth. Banking and IT
stocks were in demand. Metal and power stocks declined. 22 out of
30 stocks from the Sensex pack ended in green.
The market sentiment remained edgy on reports Monsoon Capital LLC,
a $1.20 billion hedge fund firm run by Gautam Prakash, has been hit
hard by a slump in Indian stocks this year. The news may trigger
more redemptions from hedge funds with higher exposure to India,
reports suggest.
The index gained 356.48 points at the session's high of 15,351.31,
hit at the fag end of the trading session. Sensex rose 61.26 points
at the day's low of 15,056.09 hit in the afternoon trade.
The broader CNX S&P Nifty rose 35.9 points or 0.78% at 4609.85.
The BSE Mid-cap index fell 2.66% at 5,805.53. The BSE small-cap
index was down 3.77% at 6,950.12. Both these indices underperformed
the Sensex.
The market breadth, which was negative in early trade, turned poor
as the session progressed. On BSE, 535 stocks advanced, 2149
declined and 33 stocks were unchanged.
Blue chips edged higher in volatile trading session today. After an
initial surge, the market had pared gains in afternoon trade. The
S&P CNX Nifty, had in fact, slipped into the red. A strong rebound
was witnessed in late trade. Positive cues from the global markets
supported the domestic bourses which opened after a long weekend.
However, the market breadth was weak indicating that confidence is
low among investors. Mid-cap and small-cap stocks slumped, which
was clearly reflected in the poor market breadth. Banking and IT
stocks were in demand. Metal and power stocks declined. 22 out of
30 stocks from the Sensex pack ended in green.
The market sentiment remained edgy on reports Monsoon Capital LLC,
a $1.20 billion hedge fund firm run by Gautam Prakash, has been hit
hard by a slump in Indian stocks this year. The news may trigger
more redemptions from hedge funds with higher exposure to India,
reports suggest.
Top Gainers/Losers@3.42 PM
Top Gainers
HDFC 2384.00 7.73%
ICICI Bank 804.55 4.98%
Wipro 394.50 4.75%
HDFC Bank 1326.85 4.47%
Top Losers
Tata Stee l590.00 -7.42%
Reliance Energy 1139.00 -5.59%
DLF 597.15 -4.15%
Jaiprakash Asso 199.80 -2.06%
HDFC 2384.00 7.73%
ICICI Bank 804.55 4.98%
Wipro 394.50 4.75%
HDFC Bank 1326.85 4.47%
Top Losers
Tata Stee l590.00 -7.42%
Reliance Energy 1139.00 -5.59%
DLF 597.15 -4.15%
Jaiprakash Asso 199.80 -2.06%
Breadth negative; midcaps negative
The markets are lacklustre with Nifty and broader markets in red. Sensex is trading in greenwith buying seen in select largecap IT and bank stocks. Breadth has worsened and the advance:decline was at 1:6. Nifty failed to hold above 4600 and Sensex is hovering around 15100. BSE Midcap and smallcap index were down over 3.5%.
At 2.22 hrs IST, the Sensex is up 116.09 points or 0.77% at 15110.92, and the Nifty down 29.30 points or 0.64% at 4544.65.
About 529 shares have advanced, 2461 shares declined, and 69 shares are unchanged.
Realty index is the worst hit followed by metal both down over 4% each followed by energy indices like oil & gas and power. Select bank, FMCG and IT stocks are witnessing some buying.
Among the major losers were Cairn India down 7.5%, Guj NRE Coke down over 10%. Siemens and Tata Steel are down over 3.5%. Other stocks in red are Reliance Energy, Hindalco, Reliance Communication, JP Associates, Ranbaxy.
ICICI Bank, HDFC, Wipro, HCL Tech are the top frontline gainers. Among the other gainers were Hindalco, ABB, Bharti Airtel, NTPC, HUL, ACC, HDFC, Suzlon, ONGC, Wipro, Hero Honda, ITC.
Essar Oil, RNRL, ICICI Bank were among the most active stocks on the bourses.
At 2.22 hrs IST, the Sensex is up 116.09 points or 0.77% at 15110.92, and the Nifty down 29.30 points or 0.64% at 4544.65.
About 529 shares have advanced, 2461 shares declined, and 69 shares are unchanged.
Realty index is the worst hit followed by metal both down over 4% each followed by energy indices like oil & gas and power. Select bank, FMCG and IT stocks are witnessing some buying.
Among the major losers were Cairn India down 7.5%, Guj NRE Coke down over 10%. Siemens and Tata Steel are down over 3.5%. Other stocks in red are Reliance Energy, Hindalco, Reliance Communication, JP Associates, Ranbaxy.
ICICI Bank, HDFC, Wipro, HCL Tech are the top frontline gainers. Among the other gainers were Hindalco, ABB, Bharti Airtel, NTPC, HUL, ACC, HDFC, Suzlon, ONGC, Wipro, Hero Honda, ITC.
Essar Oil, RNRL, ICICI Bank were among the most active stocks on the bourses.
Performance of today's calls
Ambuja Cements Ltd Target 125 trading at 124.80
Jindal Stainless Limited target 151,158,162 Buy did not triggered
The Federal Bank Ltd target 215 high 213.70
RPL Have a eye on 153 level -- see It did not sustain 153+ level the opened up at 154.95 it went down below yesterdays closing
Short ICici Bank Cash @ 820/825 SL 844 T 802 & 792 -- reaches Both targets
Jindal Stainless Limited target 151,158,162 Buy did not triggered
The Federal Bank Ltd target 215 high 213.70
RPL Have a eye on 153 level -- see It did not sustain 153+ level the opened up at 154.95 it went down below yesterdays closing
Short ICici Bank Cash @ 820/825 SL 844 T 802 & 792 -- reaches Both targets
Market volatile
The markets have slipped from the day's high. Nifty has slipped in red and the midcaps and smallcaps have lost further ground. Breadth has worsened and the advance:decline was at 1:6. Nifty failed to hold above 4600 and Sensex is hovering around 15100. BSE Midcap and smallcap index were down over 3.5%.
At 1.01 hrs IST, the Sensex is up 108.14 points or 0.72% at 15102.97, and the Nifty down 14.65 points or 0.32% at 4559.30.
About 583 shares have advanced, 2400 shares declined, and 76 shares are unchanged.
Realty index is the worst hit followed by metal both down over 4% each followed by energy indices like oil & gas and power. Select bank, FMCG and IT stocks are witnessing some buying.
Among the major losers were Cairn India down 7.5%, Guj NRE Coke down over 10%. Siemens and Tata Steel are down over 3.5%. Other stocks in red are Reliance Energy, Hindalco, Reliance Communication, JP Associates, Ranbaxy.
ICICI Bank, HDFC, Wipro, HCL Tech are the top frontline gainers. Among the other gainers were Hindalco, ABB, Bharti Airtel, NTPC, HUL, ACC, HDFC, Suzlon, ONGC, Wipro, Hero Honda, ITC.
Essar Oil, RNRL, ICICI Bank were among the most active stocks on the bourses.
At 1.01 hrs IST, the Sensex is up 108.14 points or 0.72% at 15102.97, and the Nifty down 14.65 points or 0.32% at 4559.30.
About 583 shares have advanced, 2400 shares declined, and 76 shares are unchanged.
Realty index is the worst hit followed by metal both down over 4% each followed by energy indices like oil & gas and power. Select bank, FMCG and IT stocks are witnessing some buying.
Among the major losers were Cairn India down 7.5%, Guj NRE Coke down over 10%. Siemens and Tata Steel are down over 3.5%. Other stocks in red are Reliance Energy, Hindalco, Reliance Communication, JP Associates, Ranbaxy.
ICICI Bank, HDFC, Wipro, HCL Tech are the top frontline gainers. Among the other gainers were Hindalco, ABB, Bharti Airtel, NTPC, HUL, ACC, HDFC, Suzlon, ONGC, Wipro, Hero Honda, ITC.
Essar Oil, RNRL, ICICI Bank were among the most active stocks on the bourses.
Monday, March 24, 2008
Performance till now
Todays Calls,
Ambuja Cements Ltd Target 125 trading at 124
Jindal Stainless Limited target 151,158,162 Buy did not triggered
The Federal Bank Ltd target 215 high 213.70
RPL Have a eye on 153 level -- see It did not sustain 153+ level
Short ICici Bank Cash @ 820/825 SL 844 T 802 & 792 -- reaches first target of 802
NSE opens gap up by 30 points, and goes bit up but again unable to sustain the upper levels
Ambuja Cements Ltd Target 125 trading at 124
Jindal Stainless Limited target 151,158,162 Buy did not triggered
The Federal Bank Ltd target 215 high 213.70
RPL Have a eye on 153 level -- see It did not sustain 153+ level
Short ICici Bank Cash @ 820/825 SL 844 T 802 & 792 -- reaches first target of 802
NSE opens gap up by 30 points, and goes bit up but again unable to sustain the upper levels
Indian market open gapup and surge a bit but i suspect there will be a selling wave coming at higher level and hence be careful. Market is still bearish mode so dont carry long postions..
Trade with strict SL
Todays Tips
Ambuja Cements Ltd Target 125
Jindal Stainless Limited target 151,158,162
The Federal Bank Ltd target 215
In RPL Have a eye on 153 level.Below this level....Don't hold long positon.
Once breaks and closes below 144.........expect nonstop slide upto 101 level.....!!!
Trade with strict SL
Todays Tips
Ambuja Cements Ltd Target 125
Jindal Stainless Limited target 151,158,162
The Federal Bank Ltd target 215
In RPL Have a eye on 153 level.Below this level....Don't hold long positon.
Once breaks and closes below 144.........expect nonstop slide upto 101 level.....!!!
Asian markets up
After nikkei opening in red and then surging to positive, straits times opened in green,
Asian market @9.25AM IST
Nikkei 225 12,528.90 +46.33 +0.37%
Straits Times 2,891.99 +67.08 +2.37%
Indian market open gapup and surge a bit but i suspect there will be a selling wave coming at higher level and hence be careful. Market is still bearish mode so dont carry long postions..
Trade with strict SL
Asian market @9.25AM IST
Nikkei 225 12,528.90 +46.33 +0.37%
Straits Times 2,891.99 +67.08 +2.37%
Indian market open gapup and surge a bit but i suspect there will be a selling wave coming at higher level and hence be careful. Market is still bearish mode so dont carry long postions..
Trade with strict SL
Japan stocks gain led by autos on steadier yen
Japanese stocks extended a three-session winning streak on Monday as gains by automakers such as Toyota Motor Co on a stabilising yen helped offset declines in recent gainers including insurers.
Shares of Nissan Motor Co Ltd jumped nearly 4 percent after Chief Executive Carlos Ghosn said on Friday that Japan's third-largest automaker expects to beat its global sales target for the year ending March 31.
Shares of Nissan Motor Co Ltd jumped nearly 4 percent after Chief Executive Carlos Ghosn said on Friday that Japan's third-largest automaker expects to beat its global sales target for the year ending March 31.
US Market closing on Thursday
On Thursday, the stock market closed the shortened week on a high note. The major indices surged more than 2% in heavy trading, and finished near their best levels of the session. Financials led the way higher, thanks to a pair of upgrades and news that the Fed is expanding its previously announced plan to increase liquidity.
Dow 12,361.32 +261.66 (2.16%)
Nasdaq 2,258.11 +48.15 (2.18%)
S&P 500 1,329.51 +31.09 (2.39%)
Dow 12,361.32 +261.66 (2.16%)
Nasdaq 2,258.11 +48.15 (2.18%)
S&P 500 1,329.51 +31.09 (2.39%)
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