Us markets hit and all ended in RED
Dow 12,527.26 -49.18 -0.39%
Nasdaq 2,322.12 -26.64 -1.13%
S&P 500 1,354.49 -11.05 -0.81%
Thursday, April 10, 2008
Post Market report - 09-Apr-2008
The market surged in late trade ending with decent gains shrugging
off subdued to weak trend in Asian and European markets. It had
edged lower at the onset of the trading session tracking
subdued-to-weak trend in Asian markets before bouncing back
shortly. Banking stocks surged in late trade after Yes Bank
announced a forecast-beating profit and said it had no delinquent
derivatives exposures. Fears that banks may take a hit in their
balance sheet because of derivative losses have triggered a steep
fall in banking shares over the past few weeks. Yes Bank results
helped reduce the fear.
Concerns about corporate and bank earnings heightened after recent
disclosures from ICICI Bank, India's biggest private sector bank in
terms of net profit and Larsen & Toubro, India's biggest
engineering & construction firm by revenue. On 4 March 2008, ICICI
Bank said it had provided $70 million in Q3 December 2007 and may
have to provide another $50 million in Q4 March 2008 for
mark-to-market losses on investments. A few days later L&T said one
of its subsidiaries L&T International FZE, may incur
commodity-hedging-losses of as much as Rs 200 crore in the year
ended March 2008.
The 30-share BSE Sensex jumped 202.89 points or 1.3% at 15,790.51.
At the day's high of 15,829.59, Sensex gained 241.97 points in late
trade. At the day's low of 15,464.72, Sensex lost 122.9 points in
early trade.
The broader based S&P CNX Nifty was up 37.4 points or 0.79% at
4,747.05. Nifty April 2008 futures were at 4748, at a premium of
0.95 points as compared to spot closing of 4747.05.
As per provisional figures on NSE, foreign institutional investors
(FII) sold shares worth Rs 307.27 crore today, 9 April 2008 and
domestic funds bought shares worth Rs 475.81 crore.
Power stocks rose. Realty and IT stocks declined. Capital goods
stocks rose on reports Finance Minister P Chidambaram met
representatives from auto and capital goods industries to discuss
industrial slowdown after recent weak Index of Industrial
Production (IIP) numbers.
HDFC Bank and HDFC were major gainers from Sensex pack. The market
breadth was strong. Buying was witnessed in select mid-cap and
small-cap stocks.
Asian and European stocks edged lower after Washington Mutual Inc,
the largest US savings and loan firm, said on Tuesday, 8 April
2008, it expected a large quarterly loss and minutes from the
Federal Reserve's latest meeting showed some of the central bankers
saw the possibility of a prolonged and severe US economic downturn.
The BSE clocked a turnover of Rs 5,294 crore today 9 April 2008
compared to a turnover of Rs 5,145.99 on 8 April 2008.
The NSE's futures & options (F&O) segment turnover was Rs 31,113.78
crore, which was lower than Rs 33,143.36 crore on Tuesday, 8 April
2008.
The market breadth was strong: on BSE 1829 shares advanced as
compared to 810 that declined. 48 shares remained unchanged.
The BSE Mid-Cap index up 1.39% to Rs 6,471.51 and BSE Small-Cap
index up 1.62% to 7,941.11.
BSE Bankex (up 3.01% to 8,192.26), BSE Power index (up 2.74% to
3,087.93), BSE Capital Goods index (up 2.66% to 12,862.47), BSE
Metal index (up 1.73% to 13,778.96), BSE Consumer Durables index
(up 1.47% to 3,983.84) outperformed Sensex.
BSE PSU index (up 1.05% to 7,316.32), BSE Oil & Gas index (up 1.03%
to 10,571.03), BSE HealthCare index (up 0.71% to 3,963.87), BSE IT
index (up 0.54% to 3,705.09), BSE Auto index (up 0.05% to
4,417.65), BSE FMCG index (down 0.48% to 2,361.20), BSE Realty
index (down 1.59% to 7,292.76) underperformed Sensex.
Banking stocks surged in late trade after Yes Bank results hit the
market in mid-afternoon trade. ICICI Bank (up 2.86% to Rs 836.50)
and HDFC Bank (up 5.5% to Rs 1,376.05) edged higher. Yes Bank
gained 4.65% to Rs 169.75 after posting 108.74% surge in net profit
to Rs 64.50 crore in Q4 March 2008 over Q4 March 2007.
India's largest commercial bank State Bank of India rose 1.12% to
Rs 1,693.50. It has reportedly shortlisted three potential
partners, including Insurance Australia Group, for a general
insurance venture. The other two shortlisted partners are a German
firm and a US-based firm, the reports suggested.
Capital goods stocks rose. Larsen & Toubro (up 2.17% to Rs
2,637.30), Bharat Heavy Electricals (up 3.74% to Rs 1,776.75) and
Suzlon Energy (up 4.45% to Rs 302.65) edged higher. As per reports,
the finance ministry is looking at various measures to provide a
boost to the capital goods sector, which witnessed a sharp slowdown
in growth earlier this year. Finance Minister P Chidambaram today
held a meeting with chief executives of several leading public
sector and private companies in the sector including the likes of
NPTC, Bhel, BEML and L&T among others. In January this year, the
Index of Industrial Production (IIP) numbers showed a significant
slowdown in the capital goods sector, with growth in the sector
falling sharply from over 16% in December 2007, to just 2.1% in
January 2008.
Power stocks rose. Reliance Power (up 3.1% to Rs 362.25), Reliance
Energy (up 2.3% to Rs 1,176.90), NTPC (up 0.62% to Rs 187.70), Tata
Power Company (up 4.84% to Rs 1,188.80) edged higher. The Finance
Ministry has cleared a restructured Rs 50,000-crore accelerated
power development and reforms programme (APDRP), which would soon
be sent to the cabinet for approval.
IT majors declined. Tata Consultancy Services (down 0.98% to Rs
876.65), Wipro (down 0.56% to Rs 411.70) and Satyam Computer
Services (down 0.37% to Rs 427.50) edged lower. However, India's
second largest IT exporter by sales Infosys rose 1.27% to Rs
1,479.90.
Realty stocks declined. Indiabulls Real Estate (down 3.33% to Rs
479.80), Housing Development Infrastructure (down 2.02% to Rs
639.50), Unitech (down 2.23% to Rs 263.35) and DLF (down 0.91% to
Rs 610) edged lower.
India's biggest FMCG firm by sales Hindustan Unilever (HUL)
declined 1.39% to Rs 244.45. It has reportedly cut prices of three
of its soap brands--Lux, Hamam and Rexona. The price reduction by
HUL is being termed as a post-budget measure to please consumers,
the reports added.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries rose 1.55% to Rs
2,418.05.
Jaiprakash Associates (down 1.44% to Rs 218.35), ITC (down 1.2% to
Rs 205.80), Ranbaxy Laboratories (down 1.78% to Rs 462.35),
Reliance Communications (down 1.71% to Rs 492), Satyam Computer
Services (down 1.67% to Rs 421.90), Maruti Suzuki India (down 1.65%
to Rs 731.90), Bharti Airtel ( down 1.44% to Rs 816.65) edged lower
from the Sensex pack.
HDFC (up 4.83% to Rs 2,421), Tata Steel (up 3.44% to Rs 678.90),
Ambuja Cements (up 1.82% to Rs 120.20), Hindalco Industries (up
1.38% to Rs 172.65) and Cipla (up 2.42% to Rs 217.60) edged higher
from Sensex pack.
Orchid Chemicals and Pharmaceuticlas clocked the highest volume of
2.53 crore shares on BSE. Sita Shree Food Products (1.95 crore
shares), Ispat Industries (1.11 crore shares), Reliance Natural
Resources (84.7 lakh shares) and Steel Authority of India (68.44
lakh shares) were other volume toppers in that order.
Orchid Chemicals and Pharmaceuticlas clocked the highest turnover
of Rs 581.72 crore on BSE. Reliance Capital (Rs 260.93 crore),
Reliance Industries (Rs 162.28 crore), Relaince Energy (Rs 154.61
crore) and Larsen & Toubro (Rs 147.13 crore) were other turnover
toppers in that order.
off subdued to weak trend in Asian and European markets. It had
edged lower at the onset of the trading session tracking
subdued-to-weak trend in Asian markets before bouncing back
shortly. Banking stocks surged in late trade after Yes Bank
announced a forecast-beating profit and said it had no delinquent
derivatives exposures. Fears that banks may take a hit in their
balance sheet because of derivative losses have triggered a steep
fall in banking shares over the past few weeks. Yes Bank results
helped reduce the fear.
Concerns about corporate and bank earnings heightened after recent
disclosures from ICICI Bank, India's biggest private sector bank in
terms of net profit and Larsen & Toubro, India's biggest
engineering & construction firm by revenue. On 4 March 2008, ICICI
Bank said it had provided $70 million in Q3 December 2007 and may
have to provide another $50 million in Q4 March 2008 for
mark-to-market losses on investments. A few days later L&T said one
of its subsidiaries L&T International FZE, may incur
commodity-hedging-losses of as much as Rs 200 crore in the year
ended March 2008.
The 30-share BSE Sensex jumped 202.89 points or 1.3% at 15,790.51.
At the day's high of 15,829.59, Sensex gained 241.97 points in late
trade. At the day's low of 15,464.72, Sensex lost 122.9 points in
early trade.
The broader based S&P CNX Nifty was up 37.4 points or 0.79% at
4,747.05. Nifty April 2008 futures were at 4748, at a premium of
0.95 points as compared to spot closing of 4747.05.
As per provisional figures on NSE, foreign institutional investors
(FII) sold shares worth Rs 307.27 crore today, 9 April 2008 and
domestic funds bought shares worth Rs 475.81 crore.
Power stocks rose. Realty and IT stocks declined. Capital goods
stocks rose on reports Finance Minister P Chidambaram met
representatives from auto and capital goods industries to discuss
industrial slowdown after recent weak Index of Industrial
Production (IIP) numbers.
HDFC Bank and HDFC were major gainers from Sensex pack. The market
breadth was strong. Buying was witnessed in select mid-cap and
small-cap stocks.
Asian and European stocks edged lower after Washington Mutual Inc,
the largest US savings and loan firm, said on Tuesday, 8 April
2008, it expected a large quarterly loss and minutes from the
Federal Reserve's latest meeting showed some of the central bankers
saw the possibility of a prolonged and severe US economic downturn.
The BSE clocked a turnover of Rs 5,294 crore today 9 April 2008
compared to a turnover of Rs 5,145.99 on 8 April 2008.
The NSE's futures & options (F&O) segment turnover was Rs 31,113.78
crore, which was lower than Rs 33,143.36 crore on Tuesday, 8 April
2008.
The market breadth was strong: on BSE 1829 shares advanced as
compared to 810 that declined. 48 shares remained unchanged.
The BSE Mid-Cap index up 1.39% to Rs 6,471.51 and BSE Small-Cap
index up 1.62% to 7,941.11.
BSE Bankex (up 3.01% to 8,192.26), BSE Power index (up 2.74% to
3,087.93), BSE Capital Goods index (up 2.66% to 12,862.47), BSE
Metal index (up 1.73% to 13,778.96), BSE Consumer Durables index
(up 1.47% to 3,983.84) outperformed Sensex.
BSE PSU index (up 1.05% to 7,316.32), BSE Oil & Gas index (up 1.03%
to 10,571.03), BSE HealthCare index (up 0.71% to 3,963.87), BSE IT
index (up 0.54% to 3,705.09), BSE Auto index (up 0.05% to
4,417.65), BSE FMCG index (down 0.48% to 2,361.20), BSE Realty
index (down 1.59% to 7,292.76) underperformed Sensex.
Banking stocks surged in late trade after Yes Bank results hit the
market in mid-afternoon trade. ICICI Bank (up 2.86% to Rs 836.50)
and HDFC Bank (up 5.5% to Rs 1,376.05) edged higher. Yes Bank
gained 4.65% to Rs 169.75 after posting 108.74% surge in net profit
to Rs 64.50 crore in Q4 March 2008 over Q4 March 2007.
India's largest commercial bank State Bank of India rose 1.12% to
Rs 1,693.50. It has reportedly shortlisted three potential
partners, including Insurance Australia Group, for a general
insurance venture. The other two shortlisted partners are a German
firm and a US-based firm, the reports suggested.
Capital goods stocks rose. Larsen & Toubro (up 2.17% to Rs
2,637.30), Bharat Heavy Electricals (up 3.74% to Rs 1,776.75) and
Suzlon Energy (up 4.45% to Rs 302.65) edged higher. As per reports,
the finance ministry is looking at various measures to provide a
boost to the capital goods sector, which witnessed a sharp slowdown
in growth earlier this year. Finance Minister P Chidambaram today
held a meeting with chief executives of several leading public
sector and private companies in the sector including the likes of
NPTC, Bhel, BEML and L&T among others. In January this year, the
Index of Industrial Production (IIP) numbers showed a significant
slowdown in the capital goods sector, with growth in the sector
falling sharply from over 16% in December 2007, to just 2.1% in
January 2008.
Power stocks rose. Reliance Power (up 3.1% to Rs 362.25), Reliance
Energy (up 2.3% to Rs 1,176.90), NTPC (up 0.62% to Rs 187.70), Tata
Power Company (up 4.84% to Rs 1,188.80) edged higher. The Finance
Ministry has cleared a restructured Rs 50,000-crore accelerated
power development and reforms programme (APDRP), which would soon
be sent to the cabinet for approval.
IT majors declined. Tata Consultancy Services (down 0.98% to Rs
876.65), Wipro (down 0.56% to Rs 411.70) and Satyam Computer
Services (down 0.37% to Rs 427.50) edged lower. However, India's
second largest IT exporter by sales Infosys rose 1.27% to Rs
1,479.90.
Realty stocks declined. Indiabulls Real Estate (down 3.33% to Rs
479.80), Housing Development Infrastructure (down 2.02% to Rs
639.50), Unitech (down 2.23% to Rs 263.35) and DLF (down 0.91% to
Rs 610) edged lower.
India's biggest FMCG firm by sales Hindustan Unilever (HUL)
declined 1.39% to Rs 244.45. It has reportedly cut prices of three
of its soap brands--Lux, Hamam and Rexona. The price reduction by
HUL is being termed as a post-budget measure to please consumers,
the reports added.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries rose 1.55% to Rs
2,418.05.
Jaiprakash Associates (down 1.44% to Rs 218.35), ITC (down 1.2% to
Rs 205.80), Ranbaxy Laboratories (down 1.78% to Rs 462.35),
Reliance Communications (down 1.71% to Rs 492), Satyam Computer
Services (down 1.67% to Rs 421.90), Maruti Suzuki India (down 1.65%
to Rs 731.90), Bharti Airtel ( down 1.44% to Rs 816.65) edged lower
from the Sensex pack.
HDFC (up 4.83% to Rs 2,421), Tata Steel (up 3.44% to Rs 678.90),
Ambuja Cements (up 1.82% to Rs 120.20), Hindalco Industries (up
1.38% to Rs 172.65) and Cipla (up 2.42% to Rs 217.60) edged higher
from Sensex pack.
Orchid Chemicals and Pharmaceuticlas clocked the highest volume of
2.53 crore shares on BSE. Sita Shree Food Products (1.95 crore
shares), Ispat Industries (1.11 crore shares), Reliance Natural
Resources (84.7 lakh shares) and Steel Authority of India (68.44
lakh shares) were other volume toppers in that order.
Orchid Chemicals and Pharmaceuticlas clocked the highest turnover
of Rs 581.72 crore on BSE. Reliance Capital (Rs 260.93 crore),
Reliance Industries (Rs 162.28 crore), Relaince Energy (Rs 154.61
crore) and Larsen & Toubro (Rs 147.13 crore) were other turnover
toppers in that order.
Market pares gains
The market pared most of its earlier gains in early afternoon trade. It had edged lower at the onset of the trading session tracking subdued-to-weak trend in Asian markets before bouncing back shortly. Power and consumer durables stocks rose. FMCG stocks declined. Capital goods stocks rose on reports Finance Minister P Chidambaram met representatives from auto and capital goods industries to discuss industrial slowdown after recent weak Index of Industrial Production (IIP) numbers.
HDFC and Bharat Heavy Electricals were major gainers from Sensex pack. The market breadth was strong. Buying was witnessed in select mid-cap and small-cap stocks.
At 12:21 IST, the 30-share BSE Sensex was up 25.27 points or 0.15% at 15,602.80. At the day’s high of 15,749.69, Sensex gained 162.07 points in mid-morning trade. At the day’s low of 15,464.72, Sensex lost 122.9 points in early trade.
The broader based S&P CNX Nifty was down 7.65 points or 0.16% at 4,702.
The market breadth was strong: on BSE 1657 shares advanced as compared to 697 that declined. 65 shares remained unchanged.
The BSE Mid-Cap index up 1.08% to Rs 6,451.91 and BSE Small-Cap index up 1.33% to 7,918.05.
India's biggest FMCG firm by sales Hindustan Unilever (HUL) declined 1.96% to Rs 245.05. It has reportedly cut prices of three of its soap brands—Lux, Hamam and Rexona. The price reduction by HUL is being termed as a post-budget measure to please consumers, the reports added.
REI Agro (down 1.66% to Rs 1,410) and ITC (down 1.22% to Rs 205.75) edged lower.
Capital goods stocks rose. Larsen & Toubro (up 2.04% to Rs 2,633.90), Bharat Heavy Electricals (up 2.3% to Rs 1,752.10) and Suzlon Energy (up 1.14% to Rs 293.05) edged higher. As per reports, the finance ministry is looking at various measures to provide a boost to the capital goods sector, which witnessed a sharp slowdown in growth earlier this year. Finance Minister P Chidambaram today held a meeting with chief executives of several leading public sector and private companies in the sector including the likes of NPTC, Bhel, BEML and L&T among others. In January this year, the Index of Industrial Production (IIP) numbers showed a significant slowdown in the capital goods sector, with growth in the sector falling sharply from over 16% in December 2007, to just 2.1% in January 2008.
Power stocks rose. Reliance Power (up 1.86% to Rs 357.90), Reliance Energy (up 1.66% to Rs 1,169.50), NTPC (up 0.4% to Rs 187.20), Tata Power Company (up 1.86% to Rs 1,155) edged higher. The Finance Ministry has cleared a restructured Rs 50,000-crore accelerated power development and reforms programme (APDRP), which would soon be sent to the cabinet for approval.
Consumer durables stocks rose. Rajesh Exports (up 6.22% to Rs 87.05), Titan Industries (up 0.18% to Rs 1,034) and Videocon Industries (up 0.36% to Rs 320.15) edged hihger.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries rose 0.24% to Rs 2,386.30.
Jaiprakash Associates (down 1.44% to Rs 218.50), Ranbaxy Laboratories (down 1.48% to Rs 463.80), Grasim Industries (down 1.19% to Rs 2,530), Satyam Computer Services (down 1.28% to Rs 423.90), Maruti Suzuki India (down 1.65% to Rs 731.90), Bharti Airtel ( down 0.82% to Rs 822) edged lower from the Sensex pack.
HDFC (up 3.75% to Rs 2,393), Ambuja Cements (up 1.65% to Rs 120), Infosys (up 1.03% to Rs 1,476.30), DLF (up 0.45% to Rs 618.40), Cipla (up 1.17% to Rs 214.50) and ICICI Bank (up 0.34% to Rs 816) edged higher from Sensex pack.
India’s largest commercial bank State Bank of India was down 0.11% to Rs 1,675.10. It has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two shortlisted partners are a German firm and a US-based firm, the reports suggested.
Unity Infraprojects rose 0.99% to Rs 571.20 after company received two orders worth Rs 221.85 crore.
HDFC and Bharat Heavy Electricals were major gainers from Sensex pack. The market breadth was strong. Buying was witnessed in select mid-cap and small-cap stocks.
At 12:21 IST, the 30-share BSE Sensex was up 25.27 points or 0.15% at 15,602.80. At the day’s high of 15,749.69, Sensex gained 162.07 points in mid-morning trade. At the day’s low of 15,464.72, Sensex lost 122.9 points in early trade.
The broader based S&P CNX Nifty was down 7.65 points or 0.16% at 4,702.
The market breadth was strong: on BSE 1657 shares advanced as compared to 697 that declined. 65 shares remained unchanged.
The BSE Mid-Cap index up 1.08% to Rs 6,451.91 and BSE Small-Cap index up 1.33% to 7,918.05.
India's biggest FMCG firm by sales Hindustan Unilever (HUL) declined 1.96% to Rs 245.05. It has reportedly cut prices of three of its soap brands—Lux, Hamam and Rexona. The price reduction by HUL is being termed as a post-budget measure to please consumers, the reports added.
REI Agro (down 1.66% to Rs 1,410) and ITC (down 1.22% to Rs 205.75) edged lower.
Capital goods stocks rose. Larsen & Toubro (up 2.04% to Rs 2,633.90), Bharat Heavy Electricals (up 2.3% to Rs 1,752.10) and Suzlon Energy (up 1.14% to Rs 293.05) edged higher. As per reports, the finance ministry is looking at various measures to provide a boost to the capital goods sector, which witnessed a sharp slowdown in growth earlier this year. Finance Minister P Chidambaram today held a meeting with chief executives of several leading public sector and private companies in the sector including the likes of NPTC, Bhel, BEML and L&T among others. In January this year, the Index of Industrial Production (IIP) numbers showed a significant slowdown in the capital goods sector, with growth in the sector falling sharply from over 16% in December 2007, to just 2.1% in January 2008.
Power stocks rose. Reliance Power (up 1.86% to Rs 357.90), Reliance Energy (up 1.66% to Rs 1,169.50), NTPC (up 0.4% to Rs 187.20), Tata Power Company (up 1.86% to Rs 1,155) edged higher. The Finance Ministry has cleared a restructured Rs 50,000-crore accelerated power development and reforms programme (APDRP), which would soon be sent to the cabinet for approval.
Consumer durables stocks rose. Rajesh Exports (up 6.22% to Rs 87.05), Titan Industries (up 0.18% to Rs 1,034) and Videocon Industries (up 0.36% to Rs 320.15) edged hihger.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries rose 0.24% to Rs 2,386.30.
Jaiprakash Associates (down 1.44% to Rs 218.50), Ranbaxy Laboratories (down 1.48% to Rs 463.80), Grasim Industries (down 1.19% to Rs 2,530), Satyam Computer Services (down 1.28% to Rs 423.90), Maruti Suzuki India (down 1.65% to Rs 731.90), Bharti Airtel ( down 0.82% to Rs 822) edged lower from the Sensex pack.
HDFC (up 3.75% to Rs 2,393), Ambuja Cements (up 1.65% to Rs 120), Infosys (up 1.03% to Rs 1,476.30), DLF (up 0.45% to Rs 618.40), Cipla (up 1.17% to Rs 214.50) and ICICI Bank (up 0.34% to Rs 816) edged higher from Sensex pack.
India’s largest commercial bank State Bank of India was down 0.11% to Rs 1,675.10. It has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two shortlisted partners are a German firm and a US-based firm, the reports suggested.
Unity Infraprojects rose 0.99% to Rs 571.20 after company received two orders worth Rs 221.85 crore.
Wednesday, April 9, 2008
Market remains firm
The market remained firm in mid-morning trade. It had edged lower at the onset of the trading session tracking subdued-to-weak trend in Asian markets before bouncing back shortly. Power and metals stocks rose. Capital goods stocks rose on reports Finance Minister P Chidambaram met representatives from auto and capital goods industries to discuss industrial slowdown after recent weak Index of Industrial Production (IIP) numbers.
HDFC and Bharat Heavy Electricals were major gainers from Sensex pack. The market breadth was strong. Except auto, realty and FMCG indices rest all sectoral indices on BSE were in green.
At 11:20 IST, the 30-share BSE Sensex was up 78.53 points or 0.5% at 15,67.43. At the day’s high of 15,683.98, Sensex gained 96.36 points in early morning trade. At the day’s low of 15,464.72 Sensex lost 122.9 points in early trade.
The broader based S&P CNX Nifty was up 10.35 points or 0.22% at 4,720.
The market breadth was strong: on BSE 1543 shares advanced as compared to 629 that declined. 55 shares remained unchanged.
The BSE Mid-Cap index up 1.3% to Rs 6,465.73 and BSE Small-Cap index up 1.25% to 7,911.79.
Capital goods stocks rose. Larsen & Toubro (up 1.93% to Rs 2,632.15), Bharat Heavy Electricals (up 1.57% to Rs 1,739.60) and Suzlon Energy (up 1.09% to Rs 292.90) edged higher. As per reports, the finance ministry is looking at various measures to provide a boost to the capital goods sector, which witnessed a sharp slowdown in growth earlier this year. Finance Minister P Chidambaram today held a meeting with chief executives of several leading public sector and private companies in the sector including the likes of NPTC, Bhel, BEML and L&T among others. In January this year, the Index of Industrial Production (IIP) numbers showed a significant slowdown in the capital goods sector, with growth in the sector falling sharply from over 16% in December 2007, to just 2.1% in January 2008.
Power stocks rose. Reliance Power (up 2.46% to Rs 360), Reliance Energy (up 1.66% to Rs 1,169.50), NTPC (up 0.24% to Rs 96.50), Tata Power Company (up 1.72% to Rs 1,153.50) edged higher. The Finance Ministry has cleared a restructured Rs 50,000-crore accelerated power development and reforms programme (APDRP), which would soon be sent to the cabinet for approval.
Metal stocks rose. Bhushan Steel (up 2.41% to Rs 674.95), Tata Steel (up 2.32% to Rs 671.05), National Aluminium Company (up 0.97% to Rs 436.65), Hindalco Industries (up 0.59% to Rs 171.30) edged higher.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries rose 0.45% to Rs 2,392.
Grasim Industries (down 1.38% to Rs 2,525), Satyam Computer Services (down 1.21% to Rs 423.90), Maruti Suzuki India (down 2.24% to Rs 727.05), ITC (down 1.27% to Rs 205.65), ONGC ( down 0.82% to Rs 1,002.60) edged lower from the Sensex pack.
HDFC (up 3% to Rs 2,378.70), Infosys (up 1.35% to Rs 1,481.80), DLF (up 0.97% to Rs 621.80), Cipla (up 0.56% to Rs 213.50) and ICICI Bank (up 0.58% to Rs 818) edged higher from Sensex pack.
India’s largest commercial bank State Bank of India rose 0.5% to Rs 1,684.90. It has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two shortlisted partners are a German firm and a US-based firm, the reports suggested.
HDFC and Bharat Heavy Electricals were major gainers from Sensex pack. The market breadth was strong. Except auto, realty and FMCG indices rest all sectoral indices on BSE were in green.
At 11:20 IST, the 30-share BSE Sensex was up 78.53 points or 0.5% at 15,67.43. At the day’s high of 15,683.98, Sensex gained 96.36 points in early morning trade. At the day’s low of 15,464.72 Sensex lost 122.9 points in early trade.
The broader based S&P CNX Nifty was up 10.35 points or 0.22% at 4,720.
The market breadth was strong: on BSE 1543 shares advanced as compared to 629 that declined. 55 shares remained unchanged.
The BSE Mid-Cap index up 1.3% to Rs 6,465.73 and BSE Small-Cap index up 1.25% to 7,911.79.
Capital goods stocks rose. Larsen & Toubro (up 1.93% to Rs 2,632.15), Bharat Heavy Electricals (up 1.57% to Rs 1,739.60) and Suzlon Energy (up 1.09% to Rs 292.90) edged higher. As per reports, the finance ministry is looking at various measures to provide a boost to the capital goods sector, which witnessed a sharp slowdown in growth earlier this year. Finance Minister P Chidambaram today held a meeting with chief executives of several leading public sector and private companies in the sector including the likes of NPTC, Bhel, BEML and L&T among others. In January this year, the Index of Industrial Production (IIP) numbers showed a significant slowdown in the capital goods sector, with growth in the sector falling sharply from over 16% in December 2007, to just 2.1% in January 2008.
Power stocks rose. Reliance Power (up 2.46% to Rs 360), Reliance Energy (up 1.66% to Rs 1,169.50), NTPC (up 0.24% to Rs 96.50), Tata Power Company (up 1.72% to Rs 1,153.50) edged higher. The Finance Ministry has cleared a restructured Rs 50,000-crore accelerated power development and reforms programme (APDRP), which would soon be sent to the cabinet for approval.
Metal stocks rose. Bhushan Steel (up 2.41% to Rs 674.95), Tata Steel (up 2.32% to Rs 671.05), National Aluminium Company (up 0.97% to Rs 436.65), Hindalco Industries (up 0.59% to Rs 171.30) edged higher.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries rose 0.45% to Rs 2,392.
Grasim Industries (down 1.38% to Rs 2,525), Satyam Computer Services (down 1.21% to Rs 423.90), Maruti Suzuki India (down 2.24% to Rs 727.05), ITC (down 1.27% to Rs 205.65), ONGC ( down 0.82% to Rs 1,002.60) edged lower from the Sensex pack.
HDFC (up 3% to Rs 2,378.70), Infosys (up 1.35% to Rs 1,481.80), DLF (up 0.97% to Rs 621.80), Cipla (up 0.56% to Rs 213.50) and ICICI Bank (up 0.58% to Rs 818) edged higher from Sensex pack.
India’s largest commercial bank State Bank of India rose 0.5% to Rs 1,684.90. It has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two shortlisted partners are a German firm and a US-based firm, the reports suggested.
Mkts choppy
The markets are choppy and have again slipped after showing some recovery. Buying support is seen from capital goods, power, metal, oil and banking stocks. Midcaps and small caps are trading higher with a gain of over 1%. Realty, FMCG and auto stocks are under pressure. Market breadth is positive, nearly 3:1. On the global front, Asian markets were trading lower.
At 10.53 hrs IST, the Sensex is up 31.28 points or 0.20% at 15618.90, and the Nifty up 8.90 points or 0.19% at 4718.55.
About 1484 shares have advanced, 695 shares declined, and 893 shares are unchanged.
Top gainers on the bourses were L&T, BHEL, Tata Steel, Tata Power, Tata Communications and SAIL while losers - Grasim, Maruti, M&M, Unitech and Sterlite Industries.
Orchid Chemical, Reliance Capital, Reliance Industries and Reliance Power were most active shares.
Capital goods stocks are witnessing buying interest after hitting in the last few sessions. The BSE Capital Goods Index was up 1.6% due to buying in L&T, BHEL and Thermax.
Power stocks have charged up today. The BSE Power Index jumped 1.4% on the back of support from Tata Power, Reliance Energy, Reliance Power and NTPC.
Metal stocks are also on buying radar; SAIL and Tata Steel gained. The BSE Metal Index was up 1.16%.
At 10.53 hrs IST, the Sensex is up 31.28 points or 0.20% at 15618.90, and the Nifty up 8.90 points or 0.19% at 4718.55.
About 1484 shares have advanced, 695 shares declined, and 893 shares are unchanged.
Top gainers on the bourses were L&T, BHEL, Tata Steel, Tata Power, Tata Communications and SAIL while losers - Grasim, Maruti, M&M, Unitech and Sterlite Industries.
Orchid Chemical, Reliance Capital, Reliance Industries and Reliance Power were most active shares.
Capital goods stocks are witnessing buying interest after hitting in the last few sessions. The BSE Capital Goods Index was up 1.6% due to buying in L&T, BHEL and Thermax.
Power stocks have charged up today. The BSE Power Index jumped 1.4% on the back of support from Tata Power, Reliance Energy, Reliance Power and NTPC.
Metal stocks are also on buying radar; SAIL and Tata Steel gained. The BSE Metal Index was up 1.16%.
Today's calls performce @10:54
Buy RPOWER above 354 for a target 360/365/370/380 SL 348 open 350 high 364.80
CHENNAI PETROLEUM CORP LTD buy above 304 target 310/313/319 SL 299
L&T above 2640 tg 2680-2719 sl 2600 opens 2,590.00 high 2,638.00
NSE minor profit booking started 4,706.80 (-2.85 (-0.06%))
CHENNAI PETROLEUM CORP LTD buy above 304 target 310/313/319 SL 299
L&T above 2640 tg 2680-2719 sl 2600 opens 2,590.00 high 2,638.00
NSE minor profit booking started 4,706.80 (-2.85 (-0.06%))
Market recovers from early slide
The market edged lower at the onset of the trading session tracking subdued-to-weak trend in Asian markets but it soon recovered from its lows and moved into the green. FMCG and oil & gas stocks declined. Capital goods stocks rose on reports Finance Minister P Chidambaram met representatives from auto and capital goods industries to discuss industrial slowdown after recent weak Index of Industrial Production (IIP) numbers. HDFC and Larsen & Toubro were major gainers from Sensex pack. The market breadth was positive.
At 10:21 IST, the 30-share BSE Sensex was up 65.62 points or 0.42% at 15,649.23. At the day’s low of 15,464.72 Sensex lost 122.9 points in early trade. At the day’s high of 15,668.49, Sensex gained 80.87 points in early trade.
The broader based S&P CNX Nifty was up 9.15 points or 0.19% at 4,718.80.
The market breadth was positive: on BSE 914 shares advanced as compared to 530 that declined. 34 shares remained unchanged.
The BSE Mid-Cap index up 0.87% to Rs 6,438.32 and BSE Small-Cap index up 0.84% to 7,879.83.
FMCG stocks declined. ITC (down 1.18% to Rs 205.85), Nestle India (down 1.14% to Rs 1,539.90) and Hindustan Unilever (down 0.81% to Rs 245.90) edged lower.
Oil & gas stocks fell. ONGC (down 0.87% to Rs 1,002.50), Cairn India (down 0.51% to Rs 226.10) and GAIL India (down 0.61% to Rs 426.65) edged lower. However India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries rose 0.62% to Rs 2,395.90.
Grasim Industries (down 2.28% to Rs 2,502.10), Satyam Computer Services (down 1.68% to Rs 421.90), Maruti Suzuki India (down 1.46% to Rs 733.35), Tata Consultancy Services (down 1.05% to Rs 876), Bharti Airtel (1.04% to Rs 820) edged lower from the Sensex pack.
Larsen & Toubro (up 1.62% to Rs 2,621), Ranbaxy Laboratories (up 1.43% to Rs 477.50), Tata Steel (up 1.57% to Rs 666.60), Bharat Heavy Electricals (up 1.42% to Rs 1,738.90) ,Reliance Energy (up 0.91% to Rs 1,160.90) edged higher from Sensex pack.
India’s largest commercial bank State Bank of India rose 0.5% to Rs 1,684.90. It has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two shortlisted partners are a German firm and a US-based firm, the reports suggested.
At 10:21 IST, the 30-share BSE Sensex was up 65.62 points or 0.42% at 15,649.23. At the day’s low of 15,464.72 Sensex lost 122.9 points in early trade. At the day’s high of 15,668.49, Sensex gained 80.87 points in early trade.
The broader based S&P CNX Nifty was up 9.15 points or 0.19% at 4,718.80.
The market breadth was positive: on BSE 914 shares advanced as compared to 530 that declined. 34 shares remained unchanged.
The BSE Mid-Cap index up 0.87% to Rs 6,438.32 and BSE Small-Cap index up 0.84% to 7,879.83.
FMCG stocks declined. ITC (down 1.18% to Rs 205.85), Nestle India (down 1.14% to Rs 1,539.90) and Hindustan Unilever (down 0.81% to Rs 245.90) edged lower.
Oil & gas stocks fell. ONGC (down 0.87% to Rs 1,002.50), Cairn India (down 0.51% to Rs 226.10) and GAIL India (down 0.61% to Rs 426.65) edged lower. However India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries rose 0.62% to Rs 2,395.90.
Grasim Industries (down 2.28% to Rs 2,502.10), Satyam Computer Services (down 1.68% to Rs 421.90), Maruti Suzuki India (down 1.46% to Rs 733.35), Tata Consultancy Services (down 1.05% to Rs 876), Bharti Airtel (1.04% to Rs 820) edged lower from the Sensex pack.
Larsen & Toubro (up 1.62% to Rs 2,621), Ranbaxy Laboratories (up 1.43% to Rs 477.50), Tata Steel (up 1.57% to Rs 666.60), Bharat Heavy Electricals (up 1.42% to Rs 1,738.90) ,Reliance Energy (up 0.91% to Rs 1,160.90) edged higher from Sensex pack.
India’s largest commercial bank State Bank of India rose 0.5% to Rs 1,684.90. It has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two shortlisted partners are a German firm and a US-based firm, the reports suggested.
Pre Market Report 09-Apr-2008
The market may remain range bound as investors may stay on the sideline ahead of the onset of Q4 March 2008 earnings reporting season. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth in net earnings of 104 out of 108 firms in its Indian coverage universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there. Infosys unveils Q4 results on Tuesday, 15 April 2008.
Prospects of further outflow by foreign funds to offset losses incurred by them in the US sub-prime mortgage market continue to weight on the market sentiment. In the calendar year so far, FIIs sold shares worth a net Rs 11808.70 crore (till 4 April 2008), to offset their huge losses in the US sub-prime mortgage market. As per provisional data, FIIs bought shares worth a net Rs 7.27 crore on Tuesday, 8 April 2008.
As far as domestic liquidity is concerned, inflows to equity mutual funds and unit linked insurance plans (with high weightage for equity) have slowed after the sharp setback on the bourses in the past two months. As per provisional data, domestic funds bought shares worth a net Rs 447.79 crore on Tuesday, 8 April 2008.
Asian stocks edged lower today, 9 April 2008, after Washington Mutual Inc, the largest US savings and loan firm, said it expected a large quarterly loss. Meanwhile, minutes from the Federal Reserve's latest meeting showed some of the central bankers saw the possibility of a prolonged and severe US economic downturn. Key benchmark indices in Hong Kong, China, Japan, and Singapore were down by between 0.16% to 1.5%.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth in net earnings of 104 out of 108 firms in its Indian coverage universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there. Infosys unveils Q4 results on Tuesday, 15 April 2008.
Prospects of further outflow by foreign funds to offset losses incurred by them in the US sub-prime mortgage market continue to weight on the market sentiment. In the calendar year so far, FIIs sold shares worth a net Rs 11808.70 crore (till 4 April 2008), to offset their huge losses in the US sub-prime mortgage market. As per provisional data, FIIs bought shares worth a net Rs 7.27 crore on Tuesday, 8 April 2008.
As far as domestic liquidity is concerned, inflows to equity mutual funds and unit linked insurance plans (with high weightage for equity) have slowed after the sharp setback on the bourses in the past two months. As per provisional data, domestic funds bought shares worth a net Rs 447.79 crore on Tuesday, 8 April 2008.
Asian stocks edged lower today, 9 April 2008, after Washington Mutual Inc, the largest US savings and loan firm, said it expected a large quarterly loss. Meanwhile, minutes from the Federal Reserve's latest meeting showed some of the central bankers saw the possibility of a prolonged and severe US economic downturn. Key benchmark indices in Hong Kong, China, Japan, and Singapore were down by between 0.16% to 1.5%.
Asian market recovers from RED
Asian markets done a faster recovery after opening in Red. Except Nikkie all the indexes are in Green now
Asian market @ 8.25AM IST
Nikkei 225 13,245.28 -5.15 -0.04%
Hang Seng 24,423.33 +111.64 +0.46%
Straits Times 3,139.89 +9.47 +0.30%
Asian market @ 8.25AM IST
Nikkei 225 13,245.28 -5.15 -0.04%
Hang Seng 24,423.33 +111.64 +0.46%
Straits Times 3,139.89 +9.47 +0.30%
Stock tips
Todays market will open in green but, may see some profit booking. So becareful, Trade with strict stoploss..
Buy RPOWER above 354 for a target 360/365/370/380 SL 348
CHENNAI PETROLEUM CORP LTD buy above 304 target 310/313/319 SL 299
L&T above 2640 tg 2680-2719 sl 2600
Buy RPOWER above 354 for a target 360/365/370/380 SL 348
CHENNAI PETROLEUM CORP LTD buy above 304 target 310/313/319 SL 299
L&T above 2640 tg 2680-2719 sl 2600
Us closed in Red, Asia opens in Red
After the earnings reporting low, us markets went into correstion mode and ended in red
US closing
Dow 12,576.44 -35.99 -0.29%
Nasdaq 2,348.76 -16.07 -0.68%
S&P 500 1,365.54 -7.00 -0.51%
US closing
Dow 12,576.44 -35.99 -0.29%
Nasdaq 2,348.76 -16.07 -0.68%
S&P 500 1,365.54 -7.00 -0.51%
US Stocks Slip After Disappointing Earnings
Wall Street retreated Tuesday after disappointing reports from aluminum producer Alcoa Inc. and chip maker Advanced Micro Devices Inc. raised concerns that corporate America's first-quarter results might come in weaker than expected.
At 11.42PM IST
Dow 12,548.27 -64.16 -0.51%
Nasdaq 2,341.46 -23.37 -0.99%
S&P 500 1,362.42 -10.12 -0.74%
At 11.42PM IST
Dow 12,548.27 -64.16 -0.51%
Nasdaq 2,341.46 -23.37 -0.99%
S&P 500 1,362.42 -10.12 -0.74%
Post-Market Report dated April 08, 2008
The market succumbed to weak international markets and lost over 1% amid heavy selling in heavyweights, CG, Metal and IT stocks.
After yesterday's strong upsurge of 414 points, the market failed to rally further as weak Asian indices and flat close on US bourses weighed on the sentiment.
Barring the consumer durables (CD) and Bankex stocks, selling was visible in all the sectors. The benchmark Sensex opened with a positive gap of 13 points at 15,770 and never recovered from the early slump. While the market moved in a range below 15,600 for better part of the trading session, the index witnessed a fall towards the mid hours and nearly breached the 15,000 mark to touch the day's low of 15,479. The Sensex however pared losses on selective gains and ended the session with losses of 169 points at 15,588, while the Nifty declined 52 points to close at 4,710
However, the market breadth was positive. Of the 2,672 stocks traded on the Bombay Stock Exchange (BSE) 1,393 stocks advanced, 1,210 stocks declined and 69 stocks ended unchanged. Among the sectoral indices, the BSE Metal dropped sharply and lost 1.93% while the BSE CG index, the BSE IT index, the BSE Teck index and the BSE Realty index were down over 1% each. The BSE Bankex & the BSE CD index were the only gainers.
Heavyweights led the fall in the Sensex. Larsen & Toubro dropped 5.09% at Rs2,581, Wipro slumped 4.60% at Rs414, Jaiprakash Associates shed 4.48% at Rs221.55, Tata Steel lost 3.39% at Rs656.30, Ranbaxy Laboratories slipped by 2.71% at Rs470.75 and Grasim Industries tumbled 2.56% at Rs2,560. NTPC, Infosys, HUL and Maruti Suzuki declined over 2% each. Among the selective gainers, BHEL rose 4.67% at Rs1,712, while Bharti Airtel, ICICI Bank, HDFC, HDFC Bank and SBI ended with modest gains.
Metal stocks slipped sharply. SAIL dropped 6.14% at Rs157.55, Jindal Steel declined 4.49% at Rs1,812.75, NALCO lost 3.55% at Rs432.45 and Tata Steel slipped by 3.39% at Rs656.30. JSW Steel, SH Precoated, Jindal Saw, Maharashtra Steel and Hindalco were down around 1-2% each.
Among the gainers in the Bankex stocks, Yes Bank advanced 11.55% at Rs162.20, Union Bank rose 3.33% at Rs153.55, Federal Bank gained 3.31% at Rs228, Karnataka Bank added 2.37% at Rs205 and Kotak Bank was up 2.14% at Rs643.
Over 2.05 crore Orchid Chemical shares changed hands on the BSE followed by RNRL (1.14 crore shares), Sita Shree (1.06 crore shares), IB Securities (76.56 lakh shares) and RPL (71.11 lakh shares).
After yesterday's strong upsurge of 414 points, the market failed to rally further as weak Asian indices and flat close on US bourses weighed on the sentiment.
Barring the consumer durables (CD) and Bankex stocks, selling was visible in all the sectors. The benchmark Sensex opened with a positive gap of 13 points at 15,770 and never recovered from the early slump. While the market moved in a range below 15,600 for better part of the trading session, the index witnessed a fall towards the mid hours and nearly breached the 15,000 mark to touch the day's low of 15,479. The Sensex however pared losses on selective gains and ended the session with losses of 169 points at 15,588, while the Nifty declined 52 points to close at 4,710
However, the market breadth was positive. Of the 2,672 stocks traded on the Bombay Stock Exchange (BSE) 1,393 stocks advanced, 1,210 stocks declined and 69 stocks ended unchanged. Among the sectoral indices, the BSE Metal dropped sharply and lost 1.93% while the BSE CG index, the BSE IT index, the BSE Teck index and the BSE Realty index were down over 1% each. The BSE Bankex & the BSE CD index were the only gainers.
Heavyweights led the fall in the Sensex. Larsen & Toubro dropped 5.09% at Rs2,581, Wipro slumped 4.60% at Rs414, Jaiprakash Associates shed 4.48% at Rs221.55, Tata Steel lost 3.39% at Rs656.30, Ranbaxy Laboratories slipped by 2.71% at Rs470.75 and Grasim Industries tumbled 2.56% at Rs2,560. NTPC, Infosys, HUL and Maruti Suzuki declined over 2% each. Among the selective gainers, BHEL rose 4.67% at Rs1,712, while Bharti Airtel, ICICI Bank, HDFC, HDFC Bank and SBI ended with modest gains.
Metal stocks slipped sharply. SAIL dropped 6.14% at Rs157.55, Jindal Steel declined 4.49% at Rs1,812.75, NALCO lost 3.55% at Rs432.45 and Tata Steel slipped by 3.39% at Rs656.30. JSW Steel, SH Precoated, Jindal Saw, Maharashtra Steel and Hindalco were down around 1-2% each.
Among the gainers in the Bankex stocks, Yes Bank advanced 11.55% at Rs162.20, Union Bank rose 3.33% at Rs153.55, Federal Bank gained 3.31% at Rs228, Karnataka Bank added 2.37% at Rs205 and Kotak Bank was up 2.14% at Rs643.
Over 2.05 crore Orchid Chemical shares changed hands on the BSE followed by RNRL (1.14 crore shares), Sita Shree (1.06 crore shares), IB Securities (76.56 lakh shares) and RPL (71.11 lakh shares).
Market drifts lower on weak global cues
The market lost ground today giving up yesterday's gains tracking weakness in Asian and European stocks. Larsen & Toubro and Wipro were major losers from the Sensex pack. Bharat Heavy Electricals and Bharti Airtel were major gainers from Sensex pack. Reliance Energy recovered from lower level.
The key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 0.65% to 1.79%. European markets were weak. France’s CAC, Germany’s DAX and UK’s FTSE 100 were down by between 0.95% to 1.3%.
The 30-share BSE Sensex provisionally ended down 194.04 points or 1.23% at 15,563.04. At the day’s low of 15,479.42, Sensex lost 277.66 points in mid-morning trade. Sensex rose 13.08 points at the day's high of 15,770.40 , at the onset of the trading session.
BSE clocked a turnover of Rs 5,127 crore compared to a turnover of Rs 4,969.92 crore on Monday, 7 April 2008.
The broader based S&P CNX Nifty was down 58.75 points or 1.23% at 4,702.45 as per the provisional figures.
Capital goods, IT, metal and oil & gas stocks declined. However BSE Mid-Cap and Small-Cap indices rose. The market breadth was positive
The market breadth was positive: on BSE 1384 shares advanced as compared to 1,217 that declined. 69 shares remained unchanged.
The BSE Mid-Cap index was up 0.51% to Rs 6,377.07 and BSE Small-Cap index rose 0.48% to 7,815.43.
Capital goods stocks declined. Larsen & Toubro lost 5.29% to Rs 2,576.10 even as company said it had bagged four orders worth Rs 1687 crore. The orders are for water supply projects, sinter plant and cold roll mill and a coal handling plant.
Suzlon Energy declined 1.31% to Rs 290.40. However, India’s largest power equipment maker by sales Bharat Heavy Electricals rose 4.67% to Rs 1,712.75.
Metal stocks declined. Steel Authority of India (down 6.14% to Rs 157.55), National Aluminium Company (down 3.55% to Rs 432.45), Tata Steel (down 3.39% to Rs 656.30), Hindalco Industries (down 1.53% to Rs 170.30) edged lower.
IT stocks declined. Wipro (down 4.6% to Rs 414), Tata Consultancy Services (down 1.64% to Rs 885.30), Infosys (down 2.07% to Rs 1,461.30) and Satyam Computer Sevices (down 0.71% to Rs 429.10) edged lower.
Oil & Gas stocks declined. ONGC (down 0.65% to Rs 1,011.25), Reliance Petroleum (down 1.57% to Rs 168.75), Cairn India (down 0.35% to Rs 227.25) edged lower.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries declined 1.02% to Rs 2,381.25. It recovered from its lows of Rs 2,358.60. A consortium of Reliance Industries (RIL) has reportedly discovered oil in Yemen. The discovery in Block 9 in Qarn Qaymah 2 well is considered to be significant, and RIL is in process of evaluating the viability.
Jaiprakash Associates (down 4.48% to Rs 221.55), Ranbaxy Laboratories (down 2.71% to Rs 470.75), Grasim Industries (down 2.56% to Rs 2,560.40), Hindustan Unilever (down 2.02% to Rs 247.90), Maruti Suzuki India (down 1.91% to Rs 744.20), and NTPC (down 2.12% to Rs 186.55) edged lower from the Sensex pack.
ICICI Bank (up 0.49% to Rs 813.25), DLF (up 0.68% to Rs 621.25), Bharti Airtel (up 1.25% to Rs 828.60), HDFC (up 0.13% to Rs 2,309.50), State Bank of India (up 0.09% to Rs 1,674.80), HDFC Bank (up 0.09% to s 1,304.30) edged higher from Sensex pack.
The key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 0.65% to 1.79%. European markets were weak. France’s CAC, Germany’s DAX and UK’s FTSE 100 were down by between 0.95% to 1.3%.
The 30-share BSE Sensex provisionally ended down 194.04 points or 1.23% at 15,563.04. At the day’s low of 15,479.42, Sensex lost 277.66 points in mid-morning trade. Sensex rose 13.08 points at the day's high of 15,770.40 , at the onset of the trading session.
BSE clocked a turnover of Rs 5,127 crore compared to a turnover of Rs 4,969.92 crore on Monday, 7 April 2008.
The broader based S&P CNX Nifty was down 58.75 points or 1.23% at 4,702.45 as per the provisional figures.
Capital goods, IT, metal and oil & gas stocks declined. However BSE Mid-Cap and Small-Cap indices rose. The market breadth was positive
The market breadth was positive: on BSE 1384 shares advanced as compared to 1,217 that declined. 69 shares remained unchanged.
The BSE Mid-Cap index was up 0.51% to Rs 6,377.07 and BSE Small-Cap index rose 0.48% to 7,815.43.
Capital goods stocks declined. Larsen & Toubro lost 5.29% to Rs 2,576.10 even as company said it had bagged four orders worth Rs 1687 crore. The orders are for water supply projects, sinter plant and cold roll mill and a coal handling plant.
Suzlon Energy declined 1.31% to Rs 290.40. However, India’s largest power equipment maker by sales Bharat Heavy Electricals rose 4.67% to Rs 1,712.75.
Metal stocks declined. Steel Authority of India (down 6.14% to Rs 157.55), National Aluminium Company (down 3.55% to Rs 432.45), Tata Steel (down 3.39% to Rs 656.30), Hindalco Industries (down 1.53% to Rs 170.30) edged lower.
IT stocks declined. Wipro (down 4.6% to Rs 414), Tata Consultancy Services (down 1.64% to Rs 885.30), Infosys (down 2.07% to Rs 1,461.30) and Satyam Computer Sevices (down 0.71% to Rs 429.10) edged lower.
Oil & Gas stocks declined. ONGC (down 0.65% to Rs 1,011.25), Reliance Petroleum (down 1.57% to Rs 168.75), Cairn India (down 0.35% to Rs 227.25) edged lower.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries declined 1.02% to Rs 2,381.25. It recovered from its lows of Rs 2,358.60. A consortium of Reliance Industries (RIL) has reportedly discovered oil in Yemen. The discovery in Block 9 in Qarn Qaymah 2 well is considered to be significant, and RIL is in process of evaluating the viability.
Jaiprakash Associates (down 4.48% to Rs 221.55), Ranbaxy Laboratories (down 2.71% to Rs 470.75), Grasim Industries (down 2.56% to Rs 2,560.40), Hindustan Unilever (down 2.02% to Rs 247.90), Maruti Suzuki India (down 1.91% to Rs 744.20), and NTPC (down 2.12% to Rs 186.55) edged lower from the Sensex pack.
ICICI Bank (up 0.49% to Rs 813.25), DLF (up 0.68% to Rs 621.25), Bharti Airtel (up 1.25% to Rs 828.60), HDFC (up 0.13% to Rs 2,309.50), State Bank of India (up 0.09% to Rs 1,674.80), HDFC Bank (up 0.09% to s 1,304.30) edged higher from Sensex pack.
The markets ended in red
The markets ended in red with moderate losses as selling pressure was seen in capital goods, FMCG, IT, oil stocks. Broader markets ended marginally in green with both midcap and smallcap up 0.5%. On the global front, most Asian markets ended lower.
Wirpro, L&T, JP Associates were among the top laggards. SAIL, Grasim, Bharti Airtel, Tata Communications are among the tother losers.
Orchid Chem was up over 15%,JB Chemicals has approved a buyback upto 7% and the stocks was up , Glenmark was among active stocks and is up over 6%.
Among the top gainers were BHEL, DLF, SBI, ICICI Bank, HDFC Bank and Sterlite Industries.
Wirpro, L&T, JP Associates were among the top laggards. SAIL, Grasim, Bharti Airtel, Tata Communications are among the tother losers.
Orchid Chem was up over 15%,JB Chemicals has approved a buyback upto 7% and the stocks was up , Glenmark was among active stocks and is up over 6%.
Among the top gainers were BHEL, DLF, SBI, ICICI Bank, HDFC Bank and Sterlite Industries.
Market recovers from lower level in volatile trade
The market recovered from lower level in choppy trade. Larsen & Toubro and Wipro were major losers from Sensex pack. Bharat Heavy Electricals and Bharti Airtel were major gainers from Sensex pack. Reliance Energy recovered from lower level. Weakness in Asian and European markets weighed on the domestic bourses.
Capital goods, IT, metal and oil & gas stocks declined. However BSE Mid-Cap and Small-Cap indices rose. The market breadth was positive
At 14:22 IST, the 30-share BSE Sensex was down 158.45 points or 1.01% at 15,598.63. At the day’s low of 15,479.42, Sensex lost 277.66 points in mid-morning trade.
The broader based S&P CNX Nifty was down 40.15 points or 0.84% at 4,721.05.
The market breadth was positive: on BSE 1326 shares advanced as compared to 1,192 that declined. 60 shares remained unchanged.
The BSE Mid-Cap index up 0.85% to Rs 6,398.50 and BSE Small-Cap index up 0.47% to 7,814.41.
Capital goods, IT, metal and oil & gas stocks declined. However BSE Mid-Cap and Small-Cap indices rose. The market breadth was positive
At 14:22 IST, the 30-share BSE Sensex was down 158.45 points or 1.01% at 15,598.63. At the day’s low of 15,479.42, Sensex lost 277.66 points in mid-morning trade.
The broader based S&P CNX Nifty was down 40.15 points or 0.84% at 4,721.05.
The market breadth was positive: on BSE 1326 shares advanced as compared to 1,192 that declined. 60 shares remained unchanged.
The BSE Mid-Cap index up 0.85% to Rs 6,398.50 and BSE Small-Cap index up 0.47% to 7,814.41.
Market fails to sustain higher level
The market skidded once again in afternoon trade taking cues from weak European markets which opened after Indian markets. After an initial slide, the market had pared losses in mid-morning trade. Weak Asian markets had pulled down the markets at the onset of the trading session. Larsen & Toubro and Wipro were major losers from Sensex pack. Bharat Heavy Electricals and State Bank of India were major gainers from Sensex pack.
Capital goods, IT and oil & gas stocks declined. Except BSE Consumer Durables index rest of the sectoral indices on BSE were in red. However BSE Mid-Cap and Small-Cap indices rose. The market breadth was negative.
At 13:27 IST, the 30-share BSE Sensex was down 254.68 points or 1.62% at 15,501.08. At the day’s low of 15,479.42, Sensex lost 277.66 points in mid-morning trade.
The broader based S&P CNX Nifty was down 76.2 points or 1.6% at 4,685.
The market breadth was negative: on BSE 1184 shares advanced as compared to 1,236 that declined. 60 shares remained unchanged.
The BSE Mid-Cap index up 0.17% to Rs 6,355.41 and BSE Small-Cap index up 0.13% to 7,788.06.
The key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 0.65% to 1.79%.
European markets opened weak. France’s CAC, Germany’s DAX and UK’s FTSE 100 were down by between 0.64% to 1.09%.
Consumer durables stocks rose. Rajesh Exports (up 4.6% to Rs 81.90), Titan Industries (up 1.86% to Rs 1,046) and Lloyd Electric (up 0.62% to Rs 97.90) edged higher.
Capital goods stocks declined. Larsen & Toubro (down 4.85% to Rs 2,588) and Suzlon Energy (down 1.44% to Rs 290.05) edged lower. However, India’s largest power equipment maker by sales Bharat Heavy Electricals rose 4.21% to Rs 1,705.15.
IT stocks declined. Wipro (down 4.85% to Rs 412.05), Tata Consultancy Services (down 2.19% to Rs 881), Infosys (down 1.67% to Rs 1,466.95) and Satyam Computer Sevices (down 1.56% to Rs 425.20) edged lower.
Oil & Gas stocks declined. ONGC (down 1.66% to Rs 1,001), Reliance Petroleum (down 1.9% to Rs 168.20), Cairn India (down 1.38% to Rs 224.900) and Gail India (down 1.01% to Rs 425.30) edged lower.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries declined 1.73% to Rs 2,364. A consortium of Reliance Industries (RIL) has reportedly discovered oil in Yemen. The discovery in Block 9 in Qarn Qaymah 2 well is considered to be significant, and RIL is in process of evaluating the viability.
Jaiprakash Associates (down 3.75% to Rs 223.25), Grasim Industries (down 2.95% to Rs 2,550), Hindustan Unilever (down 2.96% to Rs 245.50), ACC (down 2.4% to Rs 816.25), Tata Steel (down 2.59% to Rs 661.75) and NTPC (down 2.15% to Rs 186.70) edged lower from the Sensex pack.
India’s largest commercial bank State Bank of India rose 0.13% to Rs 1,674.05.
Capital goods, IT and oil & gas stocks declined. Except BSE Consumer Durables index rest of the sectoral indices on BSE were in red. However BSE Mid-Cap and Small-Cap indices rose. The market breadth was negative.
At 13:27 IST, the 30-share BSE Sensex was down 254.68 points or 1.62% at 15,501.08. At the day’s low of 15,479.42, Sensex lost 277.66 points in mid-morning trade.
The broader based S&P CNX Nifty was down 76.2 points or 1.6% at 4,685.
The market breadth was negative: on BSE 1184 shares advanced as compared to 1,236 that declined. 60 shares remained unchanged.
The BSE Mid-Cap index up 0.17% to Rs 6,355.41 and BSE Small-Cap index up 0.13% to 7,788.06.
The key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 0.65% to 1.79%.
European markets opened weak. France’s CAC, Germany’s DAX and UK’s FTSE 100 were down by between 0.64% to 1.09%.
Consumer durables stocks rose. Rajesh Exports (up 4.6% to Rs 81.90), Titan Industries (up 1.86% to Rs 1,046) and Lloyd Electric (up 0.62% to Rs 97.90) edged higher.
Capital goods stocks declined. Larsen & Toubro (down 4.85% to Rs 2,588) and Suzlon Energy (down 1.44% to Rs 290.05) edged lower. However, India’s largest power equipment maker by sales Bharat Heavy Electricals rose 4.21% to Rs 1,705.15.
IT stocks declined. Wipro (down 4.85% to Rs 412.05), Tata Consultancy Services (down 2.19% to Rs 881), Infosys (down 1.67% to Rs 1,466.95) and Satyam Computer Sevices (down 1.56% to Rs 425.20) edged lower.
Oil & Gas stocks declined. ONGC (down 1.66% to Rs 1,001), Reliance Petroleum (down 1.9% to Rs 168.20), Cairn India (down 1.38% to Rs 224.900) and Gail India (down 1.01% to Rs 425.30) edged lower.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries declined 1.73% to Rs 2,364. A consortium of Reliance Industries (RIL) has reportedly discovered oil in Yemen. The discovery in Block 9 in Qarn Qaymah 2 well is considered to be significant, and RIL is in process of evaluating the viability.
Jaiprakash Associates (down 3.75% to Rs 223.25), Grasim Industries (down 2.95% to Rs 2,550), Hindustan Unilever (down 2.96% to Rs 245.50), ACC (down 2.4% to Rs 816.25), Tata Steel (down 2.59% to Rs 661.75) and NTPC (down 2.15% to Rs 186.70) edged lower from the Sensex pack.
India’s largest commercial bank State Bank of India rose 0.13% to Rs 1,674.05.
Market pares losses
The market remained subdued in early afternoon trade. Weak Asian markets had pulled down the markets earlier. It had pared losses in mid-morning trade. Larsen & Toubro and Wipro were major losers from Sensex pack. Bharat Heavy Electricals and State Bank of India were major gainers from Sensex pack.
Capital goods, IT and oil & gas stocks declined. Except BSE Bankex and BSE Consumer Durables index rest of the sectoral indices on BSE were in red. However BSE Mid-Cap and Small-Cap indices rose. The market breadth turned even from negative.
At 12:20 IST, the 30-share BSE Sensex was down 160.37 points or 1.02% at 15,598.76. At the day’s low of 15,479.42, Sensex lost 277.66 points in mid-morning trade.
The broader based S&P CNX Nifty was down 57.85 points or 1.22% at 4,703.35.
The market breadth was even: on BSE 1175 shares advanced as compared to 1,114 that declined. 64 shares remained unchanged.
The BSE Mid-Cap index up 0.54% to Rs 6,379.01 and BSE Small-Cap index up 0.4% to 7,809.32.
The key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 0.69% to 1.49%.
Banking stocks rose. State Bank of India (up 0.75% to Rs 1,685.85), ICICI Bank (up 0.64% to Rs 814.35) edged higher. However HDFC Bank declined 0.33% to Rs 1,303.
Capital goods stocks declined. Larsen & Toubro (down 3.7% to Rs 2,619.20) and Suzlon Energy (down 0.83% to Rs 291.60) edged lower. However, India’s largest power equipment maker by sales Bharat Heavy Electricals rose 2.54% to Rs 1,677.90.
IT stocks declined. Wipro (down 4.48% to Rs 414.50), Tata Consultancy Services (down 2.66% to Rs 876.20), Infosys (down 1.69% to Rs 1,466.95) and Satyam Computer Sevices (down 1.28% to Rs 426.60) edged lower.
Oil & Gas stocks declined. ONGC (down 1.75% to Rs 1,000), Reliance Petroleum (down 1.22% to Rs 169.35), Cairn India (down 0.77% to Rs 226.30) and Gail India (down 0.67% to Rs 426.75) edged lower.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries declined 1.55% to Rs 2,369.90. A consortium of Reliance Industries (RIL) has reportedly discovered oil in Yemen. The discovery in Block 9 in Qarn Qaymah 2 well is considered to be significant, and RIL is in process of evaluating the viability.
Jaiprakash Associates (down 3.04% to Rs 224.90), Grasim Industries (down 2.95% to Rs 2,550), ACC (down 1.94% to Rs 820), Tata Steel (down 1.68% to Rs 668.35) and NTPC (down 1.52% to Rs 187.80) edged lower from the Sensex pack.
DLF (up 0.76% to Rs 622.50), HDFC (up 0.07% to Rs 2,313) were among the gainers from Sensex pack.
Orchid Chemicals & Pharmaceuticals rose 9.7% to Rs 227.20. Solrex Pharmaceutical, which reportedly belongs to Ranbaxy Group, has increased its stake in Orchid Chemicals by 3.34% through market purchases of 21.9 lakh shares on Monday, 7 April 2008. With these purchases, Solrex's stake in the company has increased to 11.4%.
Opto Circuits India rose 0.66% to Rs 317.90 after company acquired a majority stake in Criticare Systems Inc. Upon the completion of the share transfer process, Criticare Systems will become a subsidiary of Opto Circuits.
J.B.Chemicals & Pharmaceuticals rose 3.75% to Rs 51.25 ahead of the company's board meet today on share buy-back.
The next major trigger for the market is Q4 March 2008 results of India Inc. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth in net earnings of 104 out of 108 firms in its Indian coverage universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there.
Sensex jumped 413.96 points or 2.7% at 15,757.08 on Monday, 7 April 2008, on positive cues from the Asian markets.
As per provisional data, foreign funds bought shares worth a net Rs 346.04 crore on Monday, 7 April 2008. Domestic funds bought shares worth a net Rs 245.93 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 413.84 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net buyers of index futures to the tune of Rs 293.33 crore and bought index options worth Rs 102.55 crore. They were net buyers of stock futures to the tune of Rs 18.17 crore and sold stock options worth Rs 0.21 crore.
In the calendar year so far, FIIs sold shares worth a net Rs 11808.70 crore, to offset their huge losses in the US sub-prime mortgage market.
Capital goods, IT and oil & gas stocks declined. Except BSE Bankex and BSE Consumer Durables index rest of the sectoral indices on BSE were in red. However BSE Mid-Cap and Small-Cap indices rose. The market breadth turned even from negative.
At 12:20 IST, the 30-share BSE Sensex was down 160.37 points or 1.02% at 15,598.76. At the day’s low of 15,479.42, Sensex lost 277.66 points in mid-morning trade.
The broader based S&P CNX Nifty was down 57.85 points or 1.22% at 4,703.35.
The market breadth was even: on BSE 1175 shares advanced as compared to 1,114 that declined. 64 shares remained unchanged.
The BSE Mid-Cap index up 0.54% to Rs 6,379.01 and BSE Small-Cap index up 0.4% to 7,809.32.
The key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 0.69% to 1.49%.
Banking stocks rose. State Bank of India (up 0.75% to Rs 1,685.85), ICICI Bank (up 0.64% to Rs 814.35) edged higher. However HDFC Bank declined 0.33% to Rs 1,303.
Capital goods stocks declined. Larsen & Toubro (down 3.7% to Rs 2,619.20) and Suzlon Energy (down 0.83% to Rs 291.60) edged lower. However, India’s largest power equipment maker by sales Bharat Heavy Electricals rose 2.54% to Rs 1,677.90.
IT stocks declined. Wipro (down 4.48% to Rs 414.50), Tata Consultancy Services (down 2.66% to Rs 876.20), Infosys (down 1.69% to Rs 1,466.95) and Satyam Computer Sevices (down 1.28% to Rs 426.60) edged lower.
Oil & Gas stocks declined. ONGC (down 1.75% to Rs 1,000), Reliance Petroleum (down 1.22% to Rs 169.35), Cairn India (down 0.77% to Rs 226.30) and Gail India (down 0.67% to Rs 426.75) edged lower.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries declined 1.55% to Rs 2,369.90. A consortium of Reliance Industries (RIL) has reportedly discovered oil in Yemen. The discovery in Block 9 in Qarn Qaymah 2 well is considered to be significant, and RIL is in process of evaluating the viability.
Jaiprakash Associates (down 3.04% to Rs 224.90), Grasim Industries (down 2.95% to Rs 2,550), ACC (down 1.94% to Rs 820), Tata Steel (down 1.68% to Rs 668.35) and NTPC (down 1.52% to Rs 187.80) edged lower from the Sensex pack.
DLF (up 0.76% to Rs 622.50), HDFC (up 0.07% to Rs 2,313) were among the gainers from Sensex pack.
Orchid Chemicals & Pharmaceuticals rose 9.7% to Rs 227.20. Solrex Pharmaceutical, which reportedly belongs to Ranbaxy Group, has increased its stake in Orchid Chemicals by 3.34% through market purchases of 21.9 lakh shares on Monday, 7 April 2008. With these purchases, Solrex's stake in the company has increased to 11.4%.
Opto Circuits India rose 0.66% to Rs 317.90 after company acquired a majority stake in Criticare Systems Inc. Upon the completion of the share transfer process, Criticare Systems will become a subsidiary of Opto Circuits.
J.B.Chemicals & Pharmaceuticals rose 3.75% to Rs 51.25 ahead of the company's board meet today on share buy-back.
The next major trigger for the market is Q4 March 2008 results of India Inc. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth in net earnings of 104 out of 108 firms in its Indian coverage universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there.
Sensex jumped 413.96 points or 2.7% at 15,757.08 on Monday, 7 April 2008, on positive cues from the Asian markets.
As per provisional data, foreign funds bought shares worth a net Rs 346.04 crore on Monday, 7 April 2008. Domestic funds bought shares worth a net Rs 245.93 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 413.84 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net buyers of index futures to the tune of Rs 293.33 crore and bought index options worth Rs 102.55 crore. They were net buyers of stock futures to the tune of Rs 18.17 crore and sold stock options worth Rs 0.21 crore.
In the calendar year so far, FIIs sold shares worth a net Rs 11808.70 crore, to offset their huge losses in the US sub-prime mortgage market.
Mkts still in red
The markets are still trading in red but are off the day's lows. Selling pressure is seen in capital goods, telecom, FMCG, IT, oil stocks. However, selct buying is seen in banking and midcap stocks. Small cap index is trading absolutely flat. On the global front, most Asian markets were trading lower.
At 11.37 hrs IST, the Sensex is down 154.50 points or 0.98% at 15602.58, and the Nifty down 38.90 points or 0.82% at 4722.30.
About 1146 shares have advanced, 1103 shares declined, and 822 shares are unchanged.
L&T, Grasim, Bharti Airtel, Tata Communications and Wipro were top selling counters
Among the top gainers were BHEL, DLF, SBI, ICICI Bank, HDFC Bank and Sterlite Industries.
Bankex is up over 1%; BSE Midcap index is up 0.7%.
Orchid Chem, BHEL, Reliance Industries and L&T were most active shares on the bourses.
Capital goods stocks have underperformed the market today, BSE Capital Goods Index was down 1.5%.
Technology, telecom, FMCG, oil and banking stocks are under selling pressure on profit booking. These indices were down 0.5%-1%.
At 11.37 hrs IST, the Sensex is down 154.50 points or 0.98% at 15602.58, and the Nifty down 38.90 points or 0.82% at 4722.30.
About 1146 shares have advanced, 1103 shares declined, and 822 shares are unchanged.
L&T, Grasim, Bharti Airtel, Tata Communications and Wipro were top selling counters
Among the top gainers were BHEL, DLF, SBI, ICICI Bank, HDFC Bank and Sterlite Industries.
Bankex is up over 1%; BSE Midcap index is up 0.7%.
Orchid Chem, BHEL, Reliance Industries and L&T were most active shares on the bourses.
Capital goods stocks have underperformed the market today, BSE Capital Goods Index was down 1.5%.
Technology, telecom, FMCG, oil and banking stocks are under selling pressure on profit booking. These indices were down 0.5%-1%.
Tuesday, April 8, 2008
Mkts slip further
capital goods, IT, telecom stks down-
The markets have lost ground further and trading weak due to selling pressure in capital goods, telecom, FMCG, IT, oil and banking stocks. Market breadth is negative. Midcap and small cap indices are flat. On the global front, Asian markets are trading lower.
At 10.25 hrs IST, the Sensex was down 149.61 points or 0.95% at 15607.47, and the Nifty down 39.50 points or 0.83% at 4721.70. About 921 shares have advanced, 1006 shares declined, and 1144 shares are unchanged
The markets have lost ground further and trading weak due to selling pressure in capital goods, telecom, FMCG, IT, oil and banking stocks. Market breadth is negative. Midcap and small cap indices are flat. On the global front, Asian markets are trading lower.
At 10.25 hrs IST, the Sensex was down 149.61 points or 0.95% at 15607.47, and the Nifty down 39.50 points or 0.83% at 4721.70. About 921 shares have advanced, 1006 shares declined, and 1144 shares are unchanged
Markets open lower on some profit booking
The markets have opened lower and lost some ground on the back of profit booking after yesterday's sharp rally across the sectors and weak Asian cues. Metal, capital goods, technology and auto stocks are under selling pressure while realty stocks gained.
At 9:56 am, the Sensex was down 30 points at 15,725 and the Nifty down 3 points at 4757.
Losers were Suzlon, Hindalco, L&T, Wipro, SAIL, Nalco, TCS, Reliance Energy, Maruti, M&M and Tata Comm. However, DLF, Reliance Comm and Unitech were gainers.
Orchid Chemical continued its upmove and went up 6% in early trade as Ranbaxy's group company, Solrex Pharma increased stake to 11.39% in the company. In another block deal - 3 lakh Orchid Chem shares changed hands on BSE at Rs 225.90/sh.
At 9:56 am, the Sensex was down 30 points at 15,725 and the Nifty down 3 points at 4757.
Losers were Suzlon, Hindalco, L&T, Wipro, SAIL, Nalco, TCS, Reliance Energy, Maruti, M&M and Tata Comm. However, DLF, Reliance Comm and Unitech were gainers.
Orchid Chemical continued its upmove and went up 6% in early trade as Ranbaxy's group company, Solrex Pharma increased stake to 11.39% in the company. In another block deal - 3 lakh Orchid Chem shares changed hands on BSE at Rs 225.90/sh.
Pre Market Report 08-Apr-2008
The market may drift lower tracking subdued-to-weak trend in Asian equities which fell as news a possible capital injection at the largest US savings and loan company Washington Mutual Inc failed to eliminate concerns about more bank writedowns. The key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 0.4% to 1.3%.
US stocks were little changed on Monday, 7 April 2008, as rising oil prices stoked fears that corporate profits will suffer, overshadowing optimism the credit crisis is easing on news that Washington Mutual Inc was close to securing a $5 billion investment.
At home, the next major trigger for the market is Q4 March 2008 results of India Inc. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth in net earnings of 104 out of 108 firms in its Indian coverage universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there.
Sensex jumped 413.96 points or 2.7% at 15,757.08 on Monday, 7 April 2008, on positive cues from the Asian markets.
As per provisional data, foreign funds bought shares worth a net Rs 346.04 crore on Monday, 7 April 2008. Domestic funds bought shares worth a net Rs 245.93 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 413.84 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net buyers of index futures to the tune of Rs 293.33 crore and bought index options worth Rs 102.55 crore. They were net buyers of stock futures to the tune of Rs 18.17 crore and sold stock options worth Rs 0.21 crore.
US stocks were little changed on Monday, 7 April 2008, as rising oil prices stoked fears that corporate profits will suffer, overshadowing optimism the credit crisis is easing on news that Washington Mutual Inc was close to securing a $5 billion investment.
At home, the next major trigger for the market is Q4 March 2008 results of India Inc. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth in net earnings of 104 out of 108 firms in its Indian coverage universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there.
Sensex jumped 413.96 points or 2.7% at 15,757.08 on Monday, 7 April 2008, on positive cues from the Asian markets.
As per provisional data, foreign funds bought shares worth a net Rs 346.04 crore on Monday, 7 April 2008. Domestic funds bought shares worth a net Rs 245.93 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 413.84 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net buyers of index futures to the tune of Rs 293.33 crore and bought index options worth Rs 102.55 crore. They were net buyers of stock futures to the tune of Rs 18.17 crore and sold stock options worth Rs 0.21 crore.
Asian markets slide further down
All the asain marekts are in Red, We can expect minor gap down opening and a profit booking wave wil move it further down
Asian market@8AM
Nikkei 225 13,325.01 -125.22 -0.93%
Hang Seng 24,420.68 -158.08 -0.64%
Straits Times 3,158.60 -23.32 -0.73%
Asian market@8AM
Nikkei 225 13,325.01 -125.22 -0.93%
Hang Seng 24,420.68 -158.08 -0.64%
Straits Times 3,158.60 -23.32 -0.73%
Stock tips for 8th April
Market to open in Red.
Indiabulls
Sell below 98 target 96,88,85 SL 101
IFCI
Sell below 42.5 targer 41.5,40.5 SL 43.5
Orchid Chemicals
Buy above 211 target 220/225 SL 205
Indiabulls
Sell below 98 target 96,88,85 SL 101
IFCI
Sell below 42.5 targer 41.5,40.5 SL 43.5
Orchid Chemicals
Buy above 211 target 220/225 SL 205
Asian Market opens in RED
Both major indices nikkei and Straits Times opens down, We can expect profit booking after yesterdays rally today. market wil open in and around yesterdays close but most likely to go down
Nikkei 225 13,346.30 -103.93 -0.77%
Hang Seng 24,578.76 0.00 0.00%
Straits Times 3,162.35 -19.57 -0.62%
Nikkei 225 13,346.30 -103.93 -0.77%
Hang Seng 24,578.76 0.00 0.00%
Straits Times 3,162.35 -19.57 -0.62%
US closes Flat
US closes flat on Monday.. We can expect some upmove but later profit booking in Indian market. Lets wait for Asian market to open
Dow 12,612.43 +3.01 +0.02%
Nasdaq 2,364.83 -6.15 -0.26%
S&P 500 1,372.54 +2.14 +0.16%
Dow 12,612.43 +3.01 +0.02%
Nasdaq 2,364.83 -6.15 -0.26%
S&P 500 1,372.54 +2.14 +0.16%
IPO updates
Following IPO Allotment expected this week
A. Kiri Dyes and Chemicals Limited IPO
B. Titagarh Wagons Limited IPO
Upcoming IPO
Aishwarya Telecom Limited IPO
Incorporated in 1995, Aishwarya Telecom Limited is ISO 9001:2000 Certified Company manufacturing Fiber Optic Test Equipments and Cable Fault Locators. Currently, ATL manufactures products for Telephone Service Providers, Defence Sector, Railways, Telecom equipment manufacturing companies and Cable TV Operators.
Aishwarya Telecom Limited is entering in the capital markets with an initial public offering, IPO of 52,00,000 Equity Shares for cash, at a premium to be decided through a 100% Book Built Issue.
The price band for the issue has been fixed at Rs. 32/- at lower level and Rs. 35/- at upper level for equity share of Rs. 10/-. The issue opens on Apr 15, 2008, and closes for subscription on Apr 17, 2008. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
A. Kiri Dyes and Chemicals Limited IPO
B. Titagarh Wagons Limited IPO
Upcoming IPO
Aishwarya Telecom Limited IPO
Incorporated in 1995, Aishwarya Telecom Limited is ISO 9001:2000 Certified Company manufacturing Fiber Optic Test Equipments and Cable Fault Locators. Currently, ATL manufactures products for Telephone Service Providers, Defence Sector, Railways, Telecom equipment manufacturing companies and Cable TV Operators.
Aishwarya Telecom Limited is entering in the capital markets with an initial public offering, IPO of 52,00,000 Equity Shares for cash, at a premium to be decided through a 100% Book Built Issue.
The price band for the issue has been fixed at Rs. 32/- at lower level and Rs. 35/- at upper level for equity share of Rs. 10/-. The issue opens on Apr 15, 2008, and closes for subscription on Apr 17, 2008. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Post Market report - 07.04.2008
The market recouped large part of Friday (4 April 2007)'s losses
with firm Asian markets, which opened before Indian market,
providing a platform for recovery. A surge in inflation to a three
year high of 7% had spooked the market on Friday.
IT, banking, metal and FMCG stocks rose. ICICI Bank and Ranbaxy
Laboratories were major gainers from the Sensex pack. Maruti Suzuki
India and Ambuja Cements were major losers from the Sensex pack.
The market breadth was strong. All the sectoral indices on BSE were
in green.
The 30-share BSE surged 413.96 points or 2.7% at 15,757.08. At the
day's high of 15,851.88, the Sensex rose 508.76 points in
mid-afternoon trade. At the day's low of 15,321.56 Sensex lost
21.56 points in early trade.
The broader based S&P CNX Nifty was up 114.2 points or 2.46% at
4,761.20.
The BSE clocked a turnover of Rs 4,779 crore today compared to a
turnover of Rs 4,966.33 crore on Friday 4 April 2008.
Nifty April 2008 futures were at 4775, at a premium of 13.80 points
as compared to spot closing of 4761.20.
The NSE's futures & options (F&O) segment turnover was Rs 32,302.80
crore, which was lower than Rs 33,723.32 crore on Friday, 4 April
2008.
Asian stocks nudged higher today, 7 April 2008, as a
worse-than-expected US payrolls data on Friday, 4 April 2008, which
showed a fall of 80,000 jobs in March 2008, raised expectations of
further interest rate cut by the US Federal Reserve. Key benchmark
indices in Hong Kong, China, Japan, Singapore, South Korea, and
Taiwan were up by between 0.4% to 4.45%.
In Europe, key benchmark indices in France, Germany's DAX and UK
were up by between 0.63% to 0.85%. US equities held steady on
Friday after the poor showing in employment and despite worries
about banking sector earnings.
Meanwhile, Securities and Exchange Board of India (Sebi) chairman
C.B. Bhave today said the Sebi will hold a meeting with foreign
funds and their custodians to discuss issues regarding the proposed
margins imposed on institutional investors. Sebi had said last
month that institutional investors will be required to pay a margin
on trades executed in the cash market by the next day, effective
from 21 April 2008.
As per the provisional figures on NSE, the foreign institutional
investors (FII)s bought shares worth Rs 346.04 crore today 7 April
2008 and domestic funds bought shares worth Rs 245.93 crore.
The market breadth was strong: on BSE 1556 shares advanced as
compared to 1071 that declined. 57 shares remained unchanged.
The BSE Mid-Cap index up 1.31% to Rs 6,344.72 and BSE Small-Cap
index up 0.82% to 7,777.94.
BSE Bankex (up 4.14% to 7,904.09), BSE FMCG index (up 4% to
2,384.57) and BSE Metal index (up 2.76% to 13,811.56) outperformed
Sensex.
BSE Oil & Gas index (up 2.6% to 10,550.12), BSE Consumer Durables
index (up 2.52% to 3,913.88), BSE HealthCare index (up 2.47% to
3,940.66), BSE Realty index (up 1.86% to 7,483.56), BSE IT index
(up 1.66% to 3,748.57), BSE Power index (up 1.44% to 3,006.81), BSE
PSU index (up 1.3% to 7,269.14), BSE Auto index (up 1.27% to
4,433.98), BSE Capital Goods index (up 1.07% to 12,755.93)
underperformed Sensex.
Banking stocks galloped. ICICI Bank (up 5.97% to Rs 809.30), State
Bank of India (up 4.24% to Rs 1,673.35) and HDFC Bank (up 0.85% to
Rs 1,303.10) edged higher.
FMCG stocks spurted. United Spirits (up 4.34% to Rs 1,655.15), ITC
(up 4.73% to Rs 210.30) and Hindustan Unilever (up 4.74% to Rs 253)
edged higher.
Metal stocks rose. National Alluminium Company (up 4% to Rs
448.35), Sterlite Industries (up 3.77% to Rs 762.30), Tata Steel
(up 2.82% to Rs 679.35), Hindalco Industries (up 2.55% to Rs
172.95) and Steel Authority of India (up 1.94% to Rs 167.85) edged
higher.
IT stocks rose. India's largest IT services exporter by sales Tata
Consultancy Services rose 3.44% to Rs 900.10. The company has
signed a new multi-year contract with Chrysler LLC to provide a
comprehensive portfolio of IT services. Wipro (up 4.42% to Rs
433.95), Satyam Computer Services (up 1.62% to Rs 432.15) and
Infosys (up 0.63% to Rs 1492.20) edged higher.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries rose 3.6% to Rs
2,405.70. As per reports, Reliance Industries is planning to enter
into the rig manufacturing business besides investing $2.5 billion
to enter into petrocoke gasification.
India's second largest telecom services provider by sales Reliance
Communications rose 1.17% to Rs 506. It has reportedly formed a
joint venture with a local firm to launch GSM mobile services in
Sri Lanka by this year.
India's largest state-run oil exploration firm in terms of revenue
ONGC rose 1.19% to Rs 1,017.85.ONGC Videsh (OVL), the overseas arm
of Oil and Natural Gas Corporations (ONGC), will reportedly sign an
agreement on 8 April 2008 to take a 40% stake in the San Cristobal
oilfield in Venezuela. OVL will make a total investment of $355.7
million comprising signature bonus of $173.1 million for the stake,
the reports added.
India's largest truckmaker by sales Tata Motors rose 3.1% to Rs
632.65 on reports it had raised the price of trucks and buses by an
average of 3.5 % from 1 April 2008 to offset higher raw material
costs.
Bharti Airtel (up 4.41% to Rs 818.40), Ranbaxy Laboratories (up
5.59% to Rs 483.85), Jaiprakash Associates (up 4.84% to Rs 231.95)
and Grasim Industries (up 3.39% to Rs 2627.55) edged higher from
the Sensex pack.
Maruti Suzuki India (down 0.57% to Rs 759.90), Reliance Energy
(down 0.3% to Rs 1,162.90) and Ambuja Cements (down 0.84% to Rs
118.10) edged lower from the Sensex pack.
Sita Shree Food Products settled at Rs 43.90, a premium of 46.33%
over the IPO price of Rs 30. The company had priced the IPO at the
top end of the Rs 27 to Rs 30 price band.
Indiabulls Securities clocked the highest volume of 1.51 crore
shares on BSE. Reliance Natural Resources (1.24 crore shares),
Ispat Industries (1.18 crore shares), Reliance Petroleum (1.07
crore shares) and Orchid Chemicals and Pharmaceuticals (1.05 crore
shares) were other volume toppers in that order.
Reliance Capital clocked the highest turnover of Rs 229.15 crore on
BSE. Orchid Chemicals and Pharmaceuticals (Rs 204.96 crore),
Reliance Petroleum (Rs 183.34 crore), Bharat Heavy Electricals (Rs
182.71 crore) and Reliance Industries (Rs 168.07 crore) were other
turnover toppers in that order.
Sensex had plunged 489.43 points or 3.09% at 15,343.12 on Friday, 4
April 2008, on fears of monetary tightening by the Reserve Bank of
India after the latest data showed a surge in inflation to a 3-year
high of 7% in late March 2008.
The next major trigger for the market is Q4 March 2008 results of
India Inc. Analysts will be closely watching what the company
managements have to say about the outlook for the year ending March
2009 (FY 2009). Analysts will also scrutinize disclosures that
companies may make regarding foreign exchange derivatives products
that they have bought on the advice of their bankers. A steep
decline in the value of the US dollar against the Japanese Yen and
the Swiss Franc hit Indian corporates which have used these two
currencies (Yen and Franc) extensively to swap their rupee
denominated debt.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth
in net earnings of 104 out of 108 firms in its Indian coverage
universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of
strong growth in new subscribers additions. Infrastructure and
engineering firms, too, are seen reporting decent numbers in Q4
March 2008 on the back of healthy order book positions. The
performance of auto firms is likely to be sluggish due to muted
volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive
good results from the IT sector on a sequential basis in Q4 March
2008 over Q3 December 2007, though the focus here is on guidance
for the year ending March 2009 from IT bellwether Infosys
Technologies. Infosys guidance will give investors a sense of the
effect of the weakening US economy on technology spending by
companies there.
with firm Asian markets, which opened before Indian market,
providing a platform for recovery. A surge in inflation to a three
year high of 7% had spooked the market on Friday.
IT, banking, metal and FMCG stocks rose. ICICI Bank and Ranbaxy
Laboratories were major gainers from the Sensex pack. Maruti Suzuki
India and Ambuja Cements were major losers from the Sensex pack.
The market breadth was strong. All the sectoral indices on BSE were
in green.
The 30-share BSE surged 413.96 points or 2.7% at 15,757.08. At the
day's high of 15,851.88, the Sensex rose 508.76 points in
mid-afternoon trade. At the day's low of 15,321.56 Sensex lost
21.56 points in early trade.
The broader based S&P CNX Nifty was up 114.2 points or 2.46% at
4,761.20.
The BSE clocked a turnover of Rs 4,779 crore today compared to a
turnover of Rs 4,966.33 crore on Friday 4 April 2008.
Nifty April 2008 futures were at 4775, at a premium of 13.80 points
as compared to spot closing of 4761.20.
The NSE's futures & options (F&O) segment turnover was Rs 32,302.80
crore, which was lower than Rs 33,723.32 crore on Friday, 4 April
2008.
Asian stocks nudged higher today, 7 April 2008, as a
worse-than-expected US payrolls data on Friday, 4 April 2008, which
showed a fall of 80,000 jobs in March 2008, raised expectations of
further interest rate cut by the US Federal Reserve. Key benchmark
indices in Hong Kong, China, Japan, Singapore, South Korea, and
Taiwan were up by between 0.4% to 4.45%.
In Europe, key benchmark indices in France, Germany's DAX and UK
were up by between 0.63% to 0.85%. US equities held steady on
Friday after the poor showing in employment and despite worries
about banking sector earnings.
Meanwhile, Securities and Exchange Board of India (Sebi) chairman
C.B. Bhave today said the Sebi will hold a meeting with foreign
funds and their custodians to discuss issues regarding the proposed
margins imposed on institutional investors. Sebi had said last
month that institutional investors will be required to pay a margin
on trades executed in the cash market by the next day, effective
from 21 April 2008.
As per the provisional figures on NSE, the foreign institutional
investors (FII)s bought shares worth Rs 346.04 crore today 7 April
2008 and domestic funds bought shares worth Rs 245.93 crore.
The market breadth was strong: on BSE 1556 shares advanced as
compared to 1071 that declined. 57 shares remained unchanged.
The BSE Mid-Cap index up 1.31% to Rs 6,344.72 and BSE Small-Cap
index up 0.82% to 7,777.94.
BSE Bankex (up 4.14% to 7,904.09), BSE FMCG index (up 4% to
2,384.57) and BSE Metal index (up 2.76% to 13,811.56) outperformed
Sensex.
BSE Oil & Gas index (up 2.6% to 10,550.12), BSE Consumer Durables
index (up 2.52% to 3,913.88), BSE HealthCare index (up 2.47% to
3,940.66), BSE Realty index (up 1.86% to 7,483.56), BSE IT index
(up 1.66% to 3,748.57), BSE Power index (up 1.44% to 3,006.81), BSE
PSU index (up 1.3% to 7,269.14), BSE Auto index (up 1.27% to
4,433.98), BSE Capital Goods index (up 1.07% to 12,755.93)
underperformed Sensex.
Banking stocks galloped. ICICI Bank (up 5.97% to Rs 809.30), State
Bank of India (up 4.24% to Rs 1,673.35) and HDFC Bank (up 0.85% to
Rs 1,303.10) edged higher.
FMCG stocks spurted. United Spirits (up 4.34% to Rs 1,655.15), ITC
(up 4.73% to Rs 210.30) and Hindustan Unilever (up 4.74% to Rs 253)
edged higher.
Metal stocks rose. National Alluminium Company (up 4% to Rs
448.35), Sterlite Industries (up 3.77% to Rs 762.30), Tata Steel
(up 2.82% to Rs 679.35), Hindalco Industries (up 2.55% to Rs
172.95) and Steel Authority of India (up 1.94% to Rs 167.85) edged
higher.
IT stocks rose. India's largest IT services exporter by sales Tata
Consultancy Services rose 3.44% to Rs 900.10. The company has
signed a new multi-year contract with Chrysler LLC to provide a
comprehensive portfolio of IT services. Wipro (up 4.42% to Rs
433.95), Satyam Computer Services (up 1.62% to Rs 432.15) and
Infosys (up 0.63% to Rs 1492.20) edged higher.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries rose 3.6% to Rs
2,405.70. As per reports, Reliance Industries is planning to enter
into the rig manufacturing business besides investing $2.5 billion
to enter into petrocoke gasification.
India's second largest telecom services provider by sales Reliance
Communications rose 1.17% to Rs 506. It has reportedly formed a
joint venture with a local firm to launch GSM mobile services in
Sri Lanka by this year.
India's largest state-run oil exploration firm in terms of revenue
ONGC rose 1.19% to Rs 1,017.85.ONGC Videsh (OVL), the overseas arm
of Oil and Natural Gas Corporations (ONGC), will reportedly sign an
agreement on 8 April 2008 to take a 40% stake in the San Cristobal
oilfield in Venezuela. OVL will make a total investment of $355.7
million comprising signature bonus of $173.1 million for the stake,
the reports added.
India's largest truckmaker by sales Tata Motors rose 3.1% to Rs
632.65 on reports it had raised the price of trucks and buses by an
average of 3.5 % from 1 April 2008 to offset higher raw material
costs.
Bharti Airtel (up 4.41% to Rs 818.40), Ranbaxy Laboratories (up
5.59% to Rs 483.85), Jaiprakash Associates (up 4.84% to Rs 231.95)
and Grasim Industries (up 3.39% to Rs 2627.55) edged higher from
the Sensex pack.
Maruti Suzuki India (down 0.57% to Rs 759.90), Reliance Energy
(down 0.3% to Rs 1,162.90) and Ambuja Cements (down 0.84% to Rs
118.10) edged lower from the Sensex pack.
Sita Shree Food Products settled at Rs 43.90, a premium of 46.33%
over the IPO price of Rs 30. The company had priced the IPO at the
top end of the Rs 27 to Rs 30 price band.
Indiabulls Securities clocked the highest volume of 1.51 crore
shares on BSE. Reliance Natural Resources (1.24 crore shares),
Ispat Industries (1.18 crore shares), Reliance Petroleum (1.07
crore shares) and Orchid Chemicals and Pharmaceuticals (1.05 crore
shares) were other volume toppers in that order.
Reliance Capital clocked the highest turnover of Rs 229.15 crore on
BSE. Orchid Chemicals and Pharmaceuticals (Rs 204.96 crore),
Reliance Petroleum (Rs 183.34 crore), Bharat Heavy Electricals (Rs
182.71 crore) and Reliance Industries (Rs 168.07 crore) were other
turnover toppers in that order.
Sensex had plunged 489.43 points or 3.09% at 15,343.12 on Friday, 4
April 2008, on fears of monetary tightening by the Reserve Bank of
India after the latest data showed a surge in inflation to a 3-year
high of 7% in late March 2008.
The next major trigger for the market is Q4 March 2008 results of
India Inc. Analysts will be closely watching what the company
managements have to say about the outlook for the year ending March
2009 (FY 2009). Analysts will also scrutinize disclosures that
companies may make regarding foreign exchange derivatives products
that they have bought on the advice of their bankers. A steep
decline in the value of the US dollar against the Japanese Yen and
the Swiss Franc hit Indian corporates which have used these two
currencies (Yen and Franc) extensively to swap their rupee
denominated debt.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth
in net earnings of 104 out of 108 firms in its Indian coverage
universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of
strong growth in new subscribers additions. Infrastructure and
engineering firms, too, are seen reporting decent numbers in Q4
March 2008 on the back of healthy order book positions. The
performance of auto firms is likely to be sluggish due to muted
volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive
good results from the IT sector on a sequential basis in Q4 March
2008 over Q3 December 2007, though the focus here is on guidance
for the year ending March 2009 from IT bellwether Infosys
Technologies. Infosys guidance will give investors a sense of the
effect of the weakening US economy on technology spending by
companies there.
Saturday, April 5, 2008
Post Market report - 04-Apr- 2008
Sensex sheds 489 points on fears
Data showing a surge in inflation to a three-year high spooked the
market today. Banking stocks fell after concerns of possible
Reserve Bank of India intervention to rein in inflation. Capital
goods and power stocks declined. Bharat Heavy Electricals (Bhel)
and HDFC were major losers whereas Ranbaxy Laboratories and Tata
Steel were top gainers from the Sensex pack. The market breadth was
weak. European markets which opened after Indian market, were in
green.
The 30-share BSE Sensex ended down 489.43 points or 3.09% at
15,343.12. At the day's low of 15,303.04 Sensex lost 529.51 points
in late trade. At the day's high of 15,896.09, the Sensex rose
63.54 points in early trade.
The broader based S&P CNX Nifty was down 124.6 points or 2.61% at
4,647. Nifty April 2008 futures were at 4666.10, at a premium of
19.1 points as compared to spot closing of 4647.
BSE Clocked a turnover of Rs 4947 crore compared to a turnover of
Rs 4985.58 crore on 3 April 2008. The NSE's futures & options (F&O)
segment turnover was Rs 33723.32 crore, which was higher than Rs
32,513.16 crore on Thursday, 3 April 2008.
India's wholesale price index (WPI) rose 7% in the 12 months to 22
March 2008, accelerating from the previous week's rise of 6.68%.
The rate is the highest since 4 December 2004. 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 market breadth was weak: on BSE 808 shares advanced as compared
to 1823 that declined. 66 shares remained unchanged.
The BSE Mid-Cap index down 1.95% to Rs 6,262.85 and BSE Small-Cap
index down 1.6% to 7,703.14.
BSE Capital Goods index (down 4.5% to 12,620.35) underperformed
Sensex.
BSE Power index (down 2.99% to 2,964.08), BSE Bankex (down 2.95% to
7,589.96), BSE Auto index (down 2.5% to 4,378.54), BSE Oil & Gas
index (down 2.37% to 10,282.64), BSE Realty index (down 2.34% to
7,346.96), BSE PSU index (down 2.34% to 7,176.05), BSE FMCG index
(down 2.21% to 2,292.76), BSE IT index (down 2.06% to 3,687.40),
BSE Metal index (down 1.09% to 13,440.35), BSE HealthCare index
(down 1.08% to 3,845.83), BSE Consumer Durables index (down 1.04%
to 3,817.65) outperformed Sensex.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries was down 2.99%
to Rs 2,322.20.
Capital goods stocks fell. Bharat Heavy Electricals (down 6.89% to
Rs 1,634.10) and Larsen & Toubro (down 5.74% to Rs 2,686.35) edged
lower. Suzlon Energy rose 1.84% to Rs 277.10.
Banking stocks plunged after inflation data. HDFC Bank (down 2.89%
to Rs 1,292.15), ICICI Bank (down 3.07% to Rs 763.70) and State
Bank of India (down 2.06% to Rs 1,605.35) edged lower.
Power stocks declined. Tata Power Company (down 3.36% to Rs
1,120.30), Reliance Energy (down 1.94% to Rs 1,166.35), NTPC (down
2.32% to Rs 189.75) and Reliance Power (down 2.34% to Rs 321.90)
edged lower.
IT stocks declined. Wipro (down 4.53% to Rs 415.60), Infosys (down
2.55% to Rs 1,482.90), Tata Consultancy Services (down 1.78% to Rs
870.15) and Satyam Computer Services (down 0.65% to Rs 425.25)
edged lower.
HDFC (down 6.83% to Rs 2,275.95), Mahindra & Mahindra (down 6% to
Rs 605.15), Bharti Airtel (down 4.53% to Rs 783.85), ITC (down
3.46% to Rs 200.80), Jaiprakash Associates (down 5.21% to Rs
221.25) and Tata Motors (down 2.5% to Rs 613.45) edged lower from
Sensex pack.
Ranbaxy Laboratories (up 2.55% to Rs 458.5), Tata Steel (up 0.17%
to Rs 660.70) were only gainers from Sensex pack.
ACC shed 0.16% to Rs 835 even as the company said its cement
shipments rose 4.9% to 1.92 million tonnes in March 2008 over March
2007.
Ispat Industries clocked the highest volume of 2.15 crore shares on
BSE. Tulsi Extrusions (1.54 crore shares), Reliance Natural
Resources (1.47 crore shares), Reliance Petroleum (1.45 crore
shares) and Indiabulls Securities (95.95 lakh shares) were other
volume toppers in that order.
Reliance Petroleum clocked the highest turnover of Rs 247.62 crore
on BSE. Reliance Capital (Rs 240.51 crore), Bharat Heavy
Electricals (Rs 216.29 crore), Reliance Industries (Rs 206.72
crore) and Larsen & Toubro (Rs 199.48 crore) were other turnover
toppers in that order.
European markets were in green. France's CAC, Germany's DAX and
UK's FTSE 100 rose in between 0.27% to 0.57%.
Japan's Nikkei edged 0.72% lower in cautious trade today, 4 April
2008, ahead of US jobs data later in the session that will provide
fresh clues on the world's largest economy. Stock markets in China,
Taiwan and Hong Kong were closed today for the Tomb Sweeping Day
holiday.
US stocks edged up on Thursday, after a report that Merrill Lynch &
Co does not need to raise more capital eased fears of a deeper
credit crisis and offset concern that monthly jobs data would point
to a recession. The Dow Jones Industrial Average gained 20.20
points or 0.16% at 12,626.03. The tech-laden Nasdaq Composite index
rose 1.90 points or 0.08% to 2,363.30.
Meanwhile, the Bombay Stock Exchange (BSE) today launches the
trading of Sensex-based futures on the US Futures Exchange (USFE)
in Chicago. The contract will have a notional value of $40,000 and
a tick value of $10. The clearing and settlement will take place
through The Clearing Corporation, Chicago.
Stock-specific activity may rule the roost on the bourses in the
near term depending on the guidance given by company managements
for FY 2009 (year ending March 2009) at the time of announcing Q4
March 2008 results. IT bellwether Infosys Technologies kickstarts
the earnings reporting season on 15 April 2008.
Data showing a surge in inflation to a three-year high spooked the
market today. Banking stocks fell after concerns of possible
Reserve Bank of India intervention to rein in inflation. Capital
goods and power stocks declined. Bharat Heavy Electricals (Bhel)
and HDFC were major losers whereas Ranbaxy Laboratories and Tata
Steel were top gainers from the Sensex pack. The market breadth was
weak. European markets which opened after Indian market, were in
green.
The 30-share BSE Sensex ended down 489.43 points or 3.09% at
15,343.12. At the day's low of 15,303.04 Sensex lost 529.51 points
in late trade. At the day's high of 15,896.09, the Sensex rose
63.54 points in early trade.
The broader based S&P CNX Nifty was down 124.6 points or 2.61% at
4,647. Nifty April 2008 futures were at 4666.10, at a premium of
19.1 points as compared to spot closing of 4647.
BSE Clocked a turnover of Rs 4947 crore compared to a turnover of
Rs 4985.58 crore on 3 April 2008. The NSE's futures & options (F&O)
segment turnover was Rs 33723.32 crore, which was higher than Rs
32,513.16 crore on Thursday, 3 April 2008.
India's wholesale price index (WPI) rose 7% in the 12 months to 22
March 2008, accelerating from the previous week's rise of 6.68%.
The rate is the highest since 4 December 2004. 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 market breadth was weak: on BSE 808 shares advanced as compared
to 1823 that declined. 66 shares remained unchanged.
The BSE Mid-Cap index down 1.95% to Rs 6,262.85 and BSE Small-Cap
index down 1.6% to 7,703.14.
BSE Capital Goods index (down 4.5% to 12,620.35) underperformed
Sensex.
BSE Power index (down 2.99% to 2,964.08), BSE Bankex (down 2.95% to
7,589.96), BSE Auto index (down 2.5% to 4,378.54), BSE Oil & Gas
index (down 2.37% to 10,282.64), BSE Realty index (down 2.34% to
7,346.96), BSE PSU index (down 2.34% to 7,176.05), BSE FMCG index
(down 2.21% to 2,292.76), BSE IT index (down 2.06% to 3,687.40),
BSE Metal index (down 1.09% to 13,440.35), BSE HealthCare index
(down 1.08% to 3,845.83), BSE Consumer Durables index (down 1.04%
to 3,817.65) outperformed Sensex.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries was down 2.99%
to Rs 2,322.20.
Capital goods stocks fell. Bharat Heavy Electricals (down 6.89% to
Rs 1,634.10) and Larsen & Toubro (down 5.74% to Rs 2,686.35) edged
lower. Suzlon Energy rose 1.84% to Rs 277.10.
Banking stocks plunged after inflation data. HDFC Bank (down 2.89%
to Rs 1,292.15), ICICI Bank (down 3.07% to Rs 763.70) and State
Bank of India (down 2.06% to Rs 1,605.35) edged lower.
Power stocks declined. Tata Power Company (down 3.36% to Rs
1,120.30), Reliance Energy (down 1.94% to Rs 1,166.35), NTPC (down
2.32% to Rs 189.75) and Reliance Power (down 2.34% to Rs 321.90)
edged lower.
IT stocks declined. Wipro (down 4.53% to Rs 415.60), Infosys (down
2.55% to Rs 1,482.90), Tata Consultancy Services (down 1.78% to Rs
870.15) and Satyam Computer Services (down 0.65% to Rs 425.25)
edged lower.
HDFC (down 6.83% to Rs 2,275.95), Mahindra & Mahindra (down 6% to
Rs 605.15), Bharti Airtel (down 4.53% to Rs 783.85), ITC (down
3.46% to Rs 200.80), Jaiprakash Associates (down 5.21% to Rs
221.25) and Tata Motors (down 2.5% to Rs 613.45) edged lower from
Sensex pack.
Ranbaxy Laboratories (up 2.55% to Rs 458.5), Tata Steel (up 0.17%
to Rs 660.70) were only gainers from Sensex pack.
ACC shed 0.16% to Rs 835 even as the company said its cement
shipments rose 4.9% to 1.92 million tonnes in March 2008 over March
2007.
Ispat Industries clocked the highest volume of 2.15 crore shares on
BSE. Tulsi Extrusions (1.54 crore shares), Reliance Natural
Resources (1.47 crore shares), Reliance Petroleum (1.45 crore
shares) and Indiabulls Securities (95.95 lakh shares) were other
volume toppers in that order.
Reliance Petroleum clocked the highest turnover of Rs 247.62 crore
on BSE. Reliance Capital (Rs 240.51 crore), Bharat Heavy
Electricals (Rs 216.29 crore), Reliance Industries (Rs 206.72
crore) and Larsen & Toubro (Rs 199.48 crore) were other turnover
toppers in that order.
European markets were in green. France's CAC, Germany's DAX and
UK's FTSE 100 rose in between 0.27% to 0.57%.
Japan's Nikkei edged 0.72% lower in cautious trade today, 4 April
2008, ahead of US jobs data later in the session that will provide
fresh clues on the world's largest economy. Stock markets in China,
Taiwan and Hong Kong were closed today for the Tomb Sweeping Day
holiday.
US stocks edged up on Thursday, after a report that Merrill Lynch &
Co does not need to raise more capital eased fears of a deeper
credit crisis and offset concern that monthly jobs data would point
to a recession. The Dow Jones Industrial Average gained 20.20
points or 0.16% at 12,626.03. The tech-laden Nasdaq Composite index
rose 1.90 points or 0.08% to 2,363.30.
Meanwhile, the Bombay Stock Exchange (BSE) today launches the
trading of Sensex-based futures on the US Futures Exchange (USFE)
in Chicago. The contract will have a notional value of $40,000 and
a tick value of $10. The clearing and settlement will take place
through The Clearing Corporation, Chicago.
Stock-specific activity may rule the roost on the bourses in the
near term depending on the guidance given by company managements
for FY 2009 (year ending March 2009) at the time of announcing Q4
March 2008 results. IT bellwether Infosys Technologies kickstarts
the earnings reporting season on 15 April 2008.
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