Frenzied buying coupled with short covering after three straight
day's of fall triggered a solid rally in late trade. Reports of
Prime Minister's resignation had spooked a sell-off in mid-morning
trade. Despite the rally, the market breadth remained negative. The
market witnessed choppy swings throughtout the day. Global cues
were mixed.
Earlier today, the market saw firm start despite weak global cues,
but slipped in red shortly on fresh selling. The market breadth was
weak. Shares from oil, realty, declined while those from IT, FMCG
and power rallied.
The 30-share BSE Sensex ended up 254.93 points or 1.64% at
15,769.72. Sensex gained 300.01 points at its high of 15814.80
touched during late trade. It lost 200.72 points at day's low of
15,314.02, touched in mid-morning trade.
The BSE Sensex had eroded 900.78 points or 5.48% from 16,415.57 in
past three trading days to 15,514.79 on 4 June 2008. Fears of early
election, uncertainity over fuel price hike and weak global markets
played the spoilsport.
The broader based S&P CNX Nifty was up 91.35 points or 1.99% to
4,676.95. Nifty June 2008 futures were at 4671, at a discount of
5.95 points as compared to spot closing.
The market breadth was negative on BSE with 1240 shares advancing
as compared to 1397 that declined. 77 remained unchanged.
The BSE Mid-Cap index rose 0.05% to 6400.29 and BSE Small-Cap index
rose 0.2% to 7,735.5961. Both these indices underperformed the
Sensex.
BSE clocked a turnover of Rs 5578 crore today as compared to a
turnover of Rs 6461.80 crore on 4 June 2008.
The NSE futures & options (F&O) segment turnover was Rs 51017.9
crore, which was higher than Rs 48,378.31 crore on Wednesday, 4
June 2008.
Among the sectoral indices on BSE, the BSE Consumer Durables index
(down 1.42% to 4,031.72), BSE Realty index (down 0.99% at
6,326.05), BSE Auto (down 0.08% at 4,222.01), The BSE Oil & Gas
index (up 0.02% to 10,061.83), BSE Capital Goods index (down 0.03%
at 12,111.63), underperformed Sensex.
However the BSE IT index (up 5.01% to 4,617.44), BSE TecK index (up
3.45% to 3,525.65), BSE Power (up 2.89% to 2,708.49), BSE FMCG
index (up 2.48% to 2,426.16), BSE Bankex (up 1.92% at 7,348.58),
BSE Health Care index (up 1.9% at 4,345.89), BSE Metal index (up
1.89% to 15,714.59), BSE PSU index (up 1.84% to 6,719.54),
outperformed the Sensex.
Among the 30-member Sensex pack, 22 advanced while the rest
slipped.
IT stocks were the stars of the day's trading session, boosted by
firm US dollar against Indian rupee. Wipro (up 6.25% to Rs 528.40),
Satyam Computer Services (up 5.47% to Rs 512.20) and TCS (up 2.57%
to Rs 982.75) edged higher.
India's second largest software services exporter Infosys jumped
5.86% to Rs 1979.70 on reports the firm is eyeing acquisitions in
Europe to reaccelerate its growth. However the target company's
name and size was not disclosed in the report.
Sahara Housing Finance Corporation was locked at 5% lower circuit
filter at Rs 178 after the Reserve Bank of India banned a group
financial firm Sahara India Financial Corporation from accepting
public deposits after it was found guilty in violating various
regulatory norms.
Mercator Lines soared 12.70% to Rs 118.50 after its Singapore-based
unit bagged a renewed 4-year contract from Tata Power worth $320
million.
National Aluminium Company advanced 4.90% at Rs 501.75 on BSE on
reports the firms plans massive investment of around Rs 40,000
crore in next five years in its various expansion projects.
Shares of upstream companies rallied after the subsidy burden that
they have to bear became clear post fuel price hike announced
yesterday, 4 June 2008, which had remained uncertain until now.
Oil and Natural Gas Corporation soared 7.46% to Rs 953.20 and Gail
India jumped 7.39% to Rs 398.30.
Upstream oil companies ONGC and GAIL India absorb most of subsidy
burden arising in the form of under-recoveries of oil marketing
companies. The duo will now have to bear Rs 45,000 crore in subsidy
burden, which is at historically high levels.
However the public sector oil-marketing companies extended losses
today after yesterday's fuel price hike. HPCL (down 6.26% to Rs
226.30), Indian Oil Corporation (down 6.29% to Rs 391.90) and BPCL
(down 7.01% to Rs 301.35) edged lower.
Power stocks advanced on fresh buying. Tata Power Company (up 7.79%
to Rs 1256.65), NTPC (up 5.57% to Rs 166.65), Reliance
Infrastructure (up 5.68% to Rs 1130.85) edged higher.
FMCG stocks rose. Tata Tea (up 5.02% to Rs 816.30), Hindustan
Unilever (up 3.23% to Rs 237.85), ITC (up 2.89% to Rs 222.35) edged
higher.
Jaiprakash Associates (up 3.68% to Rs 205.60), Grasim Industries
(up 3.19% to Rs 2,246.30), Tata Steel (up 3.1% to Rs 840.90), ICICI
Bank (up 3.09% to Rs 781.25), HDFC Bank (up 2.22% to Rs 1,243),
were the top gainers from Sensex pack.
Tata Motors (down 1.82% to Rs 532.60), Larsen & Toubro (down 1.6%
to Rs 2,721.20), Ambuja Cements (down 1.89% to Rs 85.85), Reliance
Industries (down 2.58% to Rs 2247.65), were the top losers from
Sensex pack.
Interest rate sensitive realty sector declined on fears of hike in
interest rates or CRR after inflation may rally to double-digit
post fuel price hike announced yesterday, 4 June 2008.
Indiabulls Real Estate (down 1.6% to Rs 405.45), Phoenix Mills
(down 3.99% to Rs 319) and DLF (down 3 % to Rs 538.45) edged lower
from realty pack.
India's largest maker of utility vehicles, Mahindra and Mahindra
(M&M) declined 0.92% to Rs 562.75. It announced signing an
agreement to acquire 100% stake in Italy based Engines Engineering.
Engines Engineering is in the business of two wheels design and
developing of motorcycle prototype.
India's second largest telecom services provider Reliance
Communications rose 1.3% to Rs 547.15. As per reports Reliance
Communications and South Africa's MTN have begun due diligence as
they inch closer to creating a global top-10 telecoms firm.
Reliance Communications has also engaged Deutsche Bank for the
possibility of roping in private equity firms for part of the deal,
the source said. Blackstone Group Carlyle Group and Apax were
interested to put in $4 billion to $5 billion, reports added.
India's largest cement maker by sales ACC rose 1.09% to Rs 639.70.
Its cement shipments in May 2008 fell to 1.8 million tonnes from
1.82 million tonnes a year earlier. Production fell to 1.79 million
tonnes from 1.82 million tonnes during the similar period.
IFCI clocked the highest volume of 1.9 crore shares on BSE. Anu's
Laboratories (1.25 crore shares), Ispat Industries (1.21 crore
shares), Chambal Fertilisers and Chemicals (1.14 crore shares) and
Reliance Natural Resources (1.14 crore shares) are among other
gainers in that order.
Reliance Industries clocked the highest turnover of Rs 418.91 crore
on BSE. Anu's Laboratories (Rs 353.59 crore), Reliance Capital (Rs
266.36 crore), Gokul Refoils and Solvent (Rs 210.66 crore) and
ONGC(Rs 204.36 crore) are among other turnover toppers in that
order.
India's largest wind turbine maker Suzlon Energy soared 8.66% to Rs
268.60. The stock moved up on reports that REpower Systems, in
which Suzlon holds 33.6% stake, has bagged an order to supply 100
wind turbines to US-based enXco.
Tech Mahindra rose 7.52% to 847.85. The stock galloped after the
firm said it signed a multi-million dollar deal with Botswana
Telecommunications. The company sees revenues of upto $10 million
over the next 3-5 years from the deal.
In a crucial development, government yesterday, 4 June 2008 agreed
to raise its petrol and diesel prices by about 10% in an attempt to
curb mounting losses of state-owned refiners thereby stoking
inflation and risking a political backlash. After 10 days of debate
over the price increase, the Cabinet also agreed to cut the import
duty on crude oil to support state run refining and retailing
firms. Customs duty on crude was also reduced to nil from 5%. The
duty cuts would amount to Rs 22,660 crore in revenue loss, the
Revenue Secretary said.
Meanwhile, the ruling Left Front in West Bengal has called a
12-hour general strike today, 5 June 2008 in protest against the
'anti-people' decision of the Centre to raise the prices of petrol,
diesel and cooking gas.
Analysts opine that higher inflationary expectations immediately
gave rise to fears of a cash reserve ratio (CRR) or interest rate
hike, which is a negative for markets.
European markets were trading mixed. Key benchmark indices from
France, and Germany were up between 0.08% to 0.11%. While UK's FTSE
100down 0.26%.
Asian markets were mixed today, 5 June 2008. Japan's Nikkei
Singapore's Straits Times, South Korea's Seoul Composite, and
China's Shanghai Composite, were down by between 0.08% to 0.65%.
Hong Kong's Hang Seng and Taiwan's Taiwan Weighted were up between
0.55% to 1.28%.
US markets ended mixed in volatile session yesterday, 4 June 2008.
Banks fell to their lowest level in eight years on Fed Chairman Ben
Bernanke's warning that inflation is still a concern. Financials
tumbled on rumors that Moody's May Put bond insurers AMBAC and MBIA
on review for a possible credit rating downgrade.
The Dow Jones industrial average slipped 12.37 points, or 0.10%, to
12,390.48. The Standard & Poor's 500 index was down 0.45 points, or
0.03%, to 1,377.20, while the Nasdaq advanced 22.66 points, or
0.91%, to 2,503.14.
Friday, June 6, 2008
Wednesday, June 4, 2008
Post Market Report 04.06.2008
Local benchmarks stayed under pressure for third straight day today
marred by fears of further spike in inflation to a multiyear high
post fuel price hike announced during the day. Weak global markets
also played the spoilsport. The market witnessed choppy swings
throughout the day. Stocks across the board were hammered brutally
with all sectoral indices on BSE suffering losses.
The market had witnessed a short lived recovery in early afternoon
trade soon after the Cabinet Committee on Political Affairs (CCPA)
approved the long awaited hike in fuel prices.
The 30-share BSE Sensex tumbled 447.77 points or 2.81% at
15,514.79. The barometer index swung wildly in a range of 550.56
points between the day's high and low of 15,992.90 and 15,442.34
respectively.
The BSE Sensex has now eroded 900.78 points or 5.48% from 16,415.57
in just three trading days.
The Sensex has now slumped 5691.98 points or 26.84% from its all
time high of 21,206.77, struck on 10 January 2008. However it is
still up 705.3 points or 4.76% from its recent low of 14,809.49
touched on 17 March 2008.
The broader based S&P CNX Nifty was down 130.3 points or 2.76% at
4,585.60. Nifty June 2008 futures were at 4580.50, a discount of
5.10 points as compared to spot closing.
The BSE Mid-Cap index down 2.29% to 6397.37 and BSE Small-Cap index
down 2.06% to 7,720.26. Both these indices outperformed Sensex.
The market breadth was weak on BSE with 676 shares advancing as
compared to 1967 that declined. 76 remained unchanged.
The BSE clocked the turnover of Rs 5,551 crore today as compared to
Rs 5,252.69 crore on 3 Jun 2008.
The NSE futures & options (F&O) segment turnover was Rs 48,378.31
crore, which was higher than Rs 40,448.71 crore on Tuesday, 3 June
2008.
Among the sectoral indices on BSE, the BSE Realty index (down 5.01%
at 6,389.20), BSE Metal index (down 4.98% to 15,423.15), BSE Power
(down 4.42% to 2,632.37), The BSE Oil & Gas index (down 3.39% to
10,059.51), BSE Auto (down 3.31% at 4,225.59), BSE Capital Goods
index (down 3.24% at 12,115.82), BSE Consumer Durables index (down
3.14% to 4,089.71) underperformed Sensex.
However the BSE FMCG index (down 1.5% to 2,367.45), BSE PSU index
(down 1.93% to 6,598.43), BSE Health Care index (down 2.19% at
4,264.93), BSE Bankex (down 2.53% at 7,210.37), BSE IT ndex (down
2.54% to 4,397.35), BSE TecK index (down 2.67% to 3,407.94),
outperformed the Sensex.
In a crucial development, government today agreed to raise its
petrol and diesel prices by about 10% in an attempt to curb
mounting losses of state-owned refiners thereby stoking inflation
and risking a political backlash. After 10 days of debate over the
price increase, the Cabinet also agreed to cut the import duty on
crude oil to support state run refining and retailing firms.
Customs duty on crude was also reduced to nil from 5%. The duty
cuts would amount to Rs 22,660 crore in revenue loss, the Revenue
Secretary said.
Among the 30-member Sensex pack, 29 declined while India's largest
oil exploration company in terms of market capitalisation ONGC was
the lone gainer. The stock surged 5.31% to Rs 887.05 on speculation
that it may have to absorb lower subsidy burden after today's fuel
price hike.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries (RIL) sumped
4.14% to Rs 2296.70.
India's largest real estate developer in terms of market
capitalisation DLF shed 4.7% to Rs 555.10. The company's net profit
rose 536.6% to Rs 2590.28 crore on 388.1% rise in sales to Rs
5532.88 crore in FY 2008 over FY 2007.
Metal stocks declined. Sterlite Industries (down 6.71% to Rs
841.40), Sesa Goa (down 8.83% to Rs 3568.70), National Aluminium
Company (down 1.71% to Rs 478.30), Tata Steel (down 5.36% to Rs
815.60), Hindalco Industries (down 3.09% to Rs 178.60), Steel
Authority of India (down 1.69% to Rs 153.75), edged lower.
Power stocks declined. Reliance Power (down 7.31% to Rs 202.80),
Tata Power Company (down 7.06% to Rs 1,165.85), Reliance
Infrstructure (down 4.89% to Rs 1070.10), Powergrid Corporation of
India (down 2.97% to Rs 88.30) edged lower.
Realty stocks slumped. Lanco Infratech (down 12.27% to Rs 416.50),
Indiabulls Real Estate (down 7.29% to Rs 412.05) and Unitech (down
5.52% to Rs 207.20) edged lower.
State run oil & gas stocks erased early gains to post losses
despite fuel price hike. BPCL (down 7.84% to Rs 324.05, off day's
high of Rs 371.60), Indian Oil Corporation (down 3.61% to Rs
418.20, off day's high of Rs 452.90), HPCL (down 2.9% to Rs 241.40,
off day's high of Rs 259.90) edged lower.
The OMCs have so far reported losses of over Rs 2.25-lakh crore due
to the high crude prices and in the absence of revision in the
domestic retail prices. They have said they will run out of cash to
import crude if the government fails to bail them out.
Auto stocks were subdued post oil price hike announcement. Hero
Honda Motors (down 4.26% to Rs 764), Mahindra & Mahindra (down 3.2%
to Rs 571.50), Tata Motors (down 4.87% to Rs 542.50), Maruti Suzuki
India (down 5.07% to Rs 746.55), and Bajaj Auto (down 4.91% to Rs
551.60) edged lower.
Ambuja Cements (down 5.46% to Rs 87.50), HDFC Bank (down 5.19% to
Rs 1,215.95), Bharat Heavy Electricals (down 4.99% to Rs 1471.25),
DLF (down 3.85% to Rs 560), edged lower from Sensex pack.
IFCI clocked the highest volume of 1.78 crore shares on BSE.
Reliance Petroleum (1.56 crore shares), Ispat Industries (1.38
crore shares), Reliance Natural Resources (95.34 lakh shares) and
Essar Oil (91.05 lakh shares) are among other volume toppers in
that order.
ONGC clocked the highest turnover of Rs 313.48 crore on BSE.
Reliance Industries (Rs 308.80 crore), Reliance Petroleum (Rs
268.68 crore), Essar Oil (Rs 220.61 crore) and Reliance Capital (Rs
216.73 crore) are among other turnover toppers in that order.
Anu's Laboratories settled at a premium of 27.64% at Rs 268.05 on
its debut on BSE. It had fixed the offer price of Rs 210.
Gokul Refoils and Solvent settled at a discount of 7.15% to Rs
181.05 on its debut on BSE. It had fixed the offer price of Rs 195.
European markets which opened after Indian markets were weak. Key
benchmark indices in France, Germany and UK were down by between
1.42% to 2.16%.
Asian markets were trading mixed today, 4 June 2008. Key Asian
indices - Nikkei 225 index, Taiwan's Taiwan Weighted, South Korea's
Seoul Composite rose between 0.56% to 1.59%.
However, Singapore's Straits Times, Hang Seng and China's Shanghai
Composite were down by between 0.83% to 1.93%.
US markets declined in volatile session yesterday, 3 June 2008 led
by growing speculation that Lehman Brothers will be forced to raise
more capital and a drop in oil prices pushed down energy companies.
The Dow Jones industrial average declined 100.97 points, or 0.81%,
to 12,402.85. The S&P 500 index slipped 8.02 points, or 0.58%, to
1,377.65, while the Nasdaq Composite index was down 11.05 points,
or 0.44%, to 2,480.48.
US light crude for July delivery fell 34 cents to $123.97 a barrel
today, 4 June 2008, triggered by a rallying dollar as traders
awaited U.S. data expected to show rising oil stocks. London Brent
crude for July delivery fell 38 cents to $124.20 a barrel.
Meanwhile, mutual funds have reportedly managed to increase their
assets under management (AUM) by 5.36% in May 2008, helped by fresh
investments in fixed income funds. The collective AUM rose by
30,576.72 crore in May 2008, according to the data released by the
Associations of Mutual Fund in India (AMFI).
marred by fears of further spike in inflation to a multiyear high
post fuel price hike announced during the day. Weak global markets
also played the spoilsport. The market witnessed choppy swings
throughout the day. Stocks across the board were hammered brutally
with all sectoral indices on BSE suffering losses.
The market had witnessed a short lived recovery in early afternoon
trade soon after the Cabinet Committee on Political Affairs (CCPA)
approved the long awaited hike in fuel prices.
The 30-share BSE Sensex tumbled 447.77 points or 2.81% at
15,514.79. The barometer index swung wildly in a range of 550.56
points between the day's high and low of 15,992.90 and 15,442.34
respectively.
The BSE Sensex has now eroded 900.78 points or 5.48% from 16,415.57
in just three trading days.
The Sensex has now slumped 5691.98 points or 26.84% from its all
time high of 21,206.77, struck on 10 January 2008. However it is
still up 705.3 points or 4.76% from its recent low of 14,809.49
touched on 17 March 2008.
The broader based S&P CNX Nifty was down 130.3 points or 2.76% at
4,585.60. Nifty June 2008 futures were at 4580.50, a discount of
5.10 points as compared to spot closing.
The BSE Mid-Cap index down 2.29% to 6397.37 and BSE Small-Cap index
down 2.06% to 7,720.26. Both these indices outperformed Sensex.
The market breadth was weak on BSE with 676 shares advancing as
compared to 1967 that declined. 76 remained unchanged.
The BSE clocked the turnover of Rs 5,551 crore today as compared to
Rs 5,252.69 crore on 3 Jun 2008.
The NSE futures & options (F&O) segment turnover was Rs 48,378.31
crore, which was higher than Rs 40,448.71 crore on Tuesday, 3 June
2008.
Among the sectoral indices on BSE, the BSE Realty index (down 5.01%
at 6,389.20), BSE Metal index (down 4.98% to 15,423.15), BSE Power
(down 4.42% to 2,632.37), The BSE Oil & Gas index (down 3.39% to
10,059.51), BSE Auto (down 3.31% at 4,225.59), BSE Capital Goods
index (down 3.24% at 12,115.82), BSE Consumer Durables index (down
3.14% to 4,089.71) underperformed Sensex.
However the BSE FMCG index (down 1.5% to 2,367.45), BSE PSU index
(down 1.93% to 6,598.43), BSE Health Care index (down 2.19% at
4,264.93), BSE Bankex (down 2.53% at 7,210.37), BSE IT ndex (down
2.54% to 4,397.35), BSE TecK index (down 2.67% to 3,407.94),
outperformed the Sensex.
In a crucial development, government today agreed to raise its
petrol and diesel prices by about 10% in an attempt to curb
mounting losses of state-owned refiners thereby stoking inflation
and risking a political backlash. After 10 days of debate over the
price increase, the Cabinet also agreed to cut the import duty on
crude oil to support state run refining and retailing firms.
Customs duty on crude was also reduced to nil from 5%. The duty
cuts would amount to Rs 22,660 crore in revenue loss, the Revenue
Secretary said.
Among the 30-member Sensex pack, 29 declined while India's largest
oil exploration company in terms of market capitalisation ONGC was
the lone gainer. The stock surged 5.31% to Rs 887.05 on speculation
that it may have to absorb lower subsidy burden after today's fuel
price hike.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries (RIL) sumped
4.14% to Rs 2296.70.
India's largest real estate developer in terms of market
capitalisation DLF shed 4.7% to Rs 555.10. The company's net profit
rose 536.6% to Rs 2590.28 crore on 388.1% rise in sales to Rs
5532.88 crore in FY 2008 over FY 2007.
Metal stocks declined. Sterlite Industries (down 6.71% to Rs
841.40), Sesa Goa (down 8.83% to Rs 3568.70), National Aluminium
Company (down 1.71% to Rs 478.30), Tata Steel (down 5.36% to Rs
815.60), Hindalco Industries (down 3.09% to Rs 178.60), Steel
Authority of India (down 1.69% to Rs 153.75), edged lower.
Power stocks declined. Reliance Power (down 7.31% to Rs 202.80),
Tata Power Company (down 7.06% to Rs 1,165.85), Reliance
Infrstructure (down 4.89% to Rs 1070.10), Powergrid Corporation of
India (down 2.97% to Rs 88.30) edged lower.
Realty stocks slumped. Lanco Infratech (down 12.27% to Rs 416.50),
Indiabulls Real Estate (down 7.29% to Rs 412.05) and Unitech (down
5.52% to Rs 207.20) edged lower.
State run oil & gas stocks erased early gains to post losses
despite fuel price hike. BPCL (down 7.84% to Rs 324.05, off day's
high of Rs 371.60), Indian Oil Corporation (down 3.61% to Rs
418.20, off day's high of Rs 452.90), HPCL (down 2.9% to Rs 241.40,
off day's high of Rs 259.90) edged lower.
The OMCs have so far reported losses of over Rs 2.25-lakh crore due
to the high crude prices and in the absence of revision in the
domestic retail prices. They have said they will run out of cash to
import crude if the government fails to bail them out.
Auto stocks were subdued post oil price hike announcement. Hero
Honda Motors (down 4.26% to Rs 764), Mahindra & Mahindra (down 3.2%
to Rs 571.50), Tata Motors (down 4.87% to Rs 542.50), Maruti Suzuki
India (down 5.07% to Rs 746.55), and Bajaj Auto (down 4.91% to Rs
551.60) edged lower.
Ambuja Cements (down 5.46% to Rs 87.50), HDFC Bank (down 5.19% to
Rs 1,215.95), Bharat Heavy Electricals (down 4.99% to Rs 1471.25),
DLF (down 3.85% to Rs 560), edged lower from Sensex pack.
IFCI clocked the highest volume of 1.78 crore shares on BSE.
Reliance Petroleum (1.56 crore shares), Ispat Industries (1.38
crore shares), Reliance Natural Resources (95.34 lakh shares) and
Essar Oil (91.05 lakh shares) are among other volume toppers in
that order.
ONGC clocked the highest turnover of Rs 313.48 crore on BSE.
Reliance Industries (Rs 308.80 crore), Reliance Petroleum (Rs
268.68 crore), Essar Oil (Rs 220.61 crore) and Reliance Capital (Rs
216.73 crore) are among other turnover toppers in that order.
Anu's Laboratories settled at a premium of 27.64% at Rs 268.05 on
its debut on BSE. It had fixed the offer price of Rs 210.
Gokul Refoils and Solvent settled at a discount of 7.15% to Rs
181.05 on its debut on BSE. It had fixed the offer price of Rs 195.
European markets which opened after Indian markets were weak. Key
benchmark indices in France, Germany and UK were down by between
1.42% to 2.16%.
Asian markets were trading mixed today, 4 June 2008. Key Asian
indices - Nikkei 225 index, Taiwan's Taiwan Weighted, South Korea's
Seoul Composite rose between 0.56% to 1.59%.
However, Singapore's Straits Times, Hang Seng and China's Shanghai
Composite were down by between 0.83% to 1.93%.
US markets declined in volatile session yesterday, 3 June 2008 led
by growing speculation that Lehman Brothers will be forced to raise
more capital and a drop in oil prices pushed down energy companies.
The Dow Jones industrial average declined 100.97 points, or 0.81%,
to 12,402.85. The S&P 500 index slipped 8.02 points, or 0.58%, to
1,377.65, while the Nasdaq Composite index was down 11.05 points,
or 0.44%, to 2,480.48.
US light crude for July delivery fell 34 cents to $123.97 a barrel
today, 4 June 2008, triggered by a rallying dollar as traders
awaited U.S. data expected to show rising oil stocks. London Brent
crude for July delivery fell 38 cents to $124.20 a barrel.
Meanwhile, mutual funds have reportedly managed to increase their
assets under management (AUM) by 5.36% in May 2008, helped by fresh
investments in fixed income funds. The collective AUM rose by
30,576.72 crore in May 2008, according to the data released by the
Associations of Mutual Fund in India (AMFI).
Post Market Report 03.06.2008
The market staged a smart intra-day rebound in second half of the
day's trading session led by recovery in Reliance Industries (RIL).
Panic selling in early trade by wary investors kept market
depressed in the first half. Fears in the market were that Left
parties might withdraw support to the government, which may lead to
early election. The market witnessed choppy swings throughout the
day. Cement sector was the start sector of the day.
European markets, which opened before Indian market, were mixed.
Asian markets which opened before Indian market recovered from
early lows.
The Revolutionary Socialist Party (RSP), a part of the Left front,
is reportedly pulling out of the United Progressive Alliance
(UPA)-Left coordination committee. RSP has been seeking withdrawal
of support to the UPA government since the last three years. The
party is now planning to to step up pressure on the other Left
parties to withdraw their support to the Manmohan Singh government,
reports suggest
The 30-share BSE Sensex settled 100.62 points or 0.63% lower at
15,962.56, after opening 211.46 points lower at 15,851.72. Sensex
shed 77.78 points at day's high of 15,985.40 hit in mid-afternoon
trade. The barometer index plunged 353.67 points at day's low of
15,709.51 hit mid-afternoon trade.
The broader based S&P CNX Nifty fell 23.70 points or 0.5% at
4,715.90. Nifty swung wildly in a range of 4634 and 4739.30 during
the day. Nifty June 2008 futures were at 4706, a discount of 9.9
points as compared to spot closing
The market breadth was weak on BSE with 1810 shares declining as
compared to 860 that advanced. 55 remained unchanged.
The BSE Mid-Cap index declined 0.56% to 6,547.30 and the BSE
Small-Cap index shed 0.97% to 7,882.29
The total turnover on BSE amounted to Rs 5229 crore as compared to
Rs 4,809.14 crore yesterday, 2 June 2008. Turnover in NSE's futures
& options segment amounted to Rs 40448.71 crore as compared to Rs
35257.77 crore yesterday, 2 June 2008.
Sectoral indices on BSE displayed mixed trend. The BSE Oil & Gas
index (up 2.02% to 10,412.49), BSE FMCG index (down 0.33% to
2,403.54), BSE Auto (up 0.27% at 4,370.05), BSE Health Care index
(up 0.23% at 4,360.26), BSE Realty index (down 0.02% at 6,726.25),
BSE Metal index (down 0.39% to 16,232.08), and BSE Consumer
Durables index (up 0.68% to 4,222.18), outperformed the Sensex.
The BSE Power (down 2.64% to 2,754.20), BSE Bankex (down 0.77% at
7,397.25), BSE Capital Goods index (down 2.24% at 12,521.25), BSE
TecK index (down 1.69% to 3,501.40), BSE PSU index (down 1.17% to
6,728.19), underperformed the Sensex.
Among the 30-member Sensex pack, 18 declined while the rest gained.
India's largest cellular services provider Bharti Airtel slumped
4.23% to Rs 840.55 on 4.15 lakh shares. The stock had hit an
intra-day high of Rs 868.65 in opening trade. It was the top loser
from Sensex pack.
Select Sensex stocks staged a smart recovery from early lows.
Reliance Infrastructure (down 3.72% to Rs 1126.90, off day's low of
Rs 1085), HDFC (down 2.87% to Rs 2458, off day's low of Rs 2432),
Bharat Heavy Electricals (down 2.86% to Rs 1550, off day's low of
Rs 1501.15) and Jaiprakash Associates (down 2.31% to Rs 207, off
day's low of Rs 200.20) recovered.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries (RIL) advanced
2.31% to Rs 2410 on 11.65 lakh shares. As per reports, the Punjab
Infrastructure Development Board (PIDB) has received proposals from
Reliance Industries and Omaxe to set up an expressway from
Pathankot to Ajmer and a ring road around Amritsar respectively.
India's fourth largest software services exporter Satyam Computer
Services shed 3.31% to Rs 501.50 after Upaid Systems said it has
filed fresh claims as part of court proceedings against Satyam in a
US court, which could raise possible damages beyond the earlier
stated $1 billion.
In 2005, a patent infringement court case was initiated in Texas
against third parties which revealed the use of forged signatures
by Satyam employees on critical documents provided to Upaid by
Satyam.
India's largest private sector engineering company in terms of
order book Larsen & Toubro declined 2.44% to Rs 2845. The company
said on Monday, 2 June 2008, it is seeking shareholders' approval
to transfer its medical equipment and systems business to a
subsidiary or to sell it.
Private sector banking shares declined tracking fall in their
American Depository Receipt (ADRs) on the New York Stock Exchange
yesterday, 2 June 2008. ICICI Bank lost 0.90% to Rs 757.95 after
its ADR slumped 6% and HDFC Bank shed 0.40% to Rs 1306 after its
ADR fell 5.5%.
India's largest bank in terms of market capitalisation State Bank
of India (SBI) slipped 0.94% to Rs 1381
India's second largest software services exporter Infosys
Technologies was down 1.38% to Rs 1924, off day's low of Rs 1882.
The company received two patents from US Patent and Trademark
Office in the areas of holography and mobile communications. The
company made this announcement during trading hours today, 3 June
2008.
India's largest pharma company in terms of sales Ranbaxy
laboratories surged 3.67% to Rs 532.90 on 4.34 lakh shares. It was
the top gainer from Sensex pack
Cement shares advanced on fresh buying. India's largest cement
company in terms of sales ACC advanced 3.50% to Rs 648. The company
has reportedly short listed some companies for acquisition. ACC has
cash reserves of Rs 1000 crore which it would use for expansion and
acquisition, reports suggest.
India's second largest cement company in terms of sales Ambuja
Cements rose 0.16% to Rs 92.40 even on company said its cement
shipments fell 1% to 1.51 million tonnes in May 2008 over May 2007.
Ambuja Cements' production fell 1% to 1.49 million tonnes in May
2008 over May 2007.
UltraTech Cement Company (up 1.28% to Rs 650), Prism Cement (up
2.44% to Rs 37.80), India Cements (up 4.38% to Rs 165.85), and
Mysore Cements (up 6.42% to Rs 35.65) advanced.
As per reports, the government has done a flip flop on tax refunds
for cement exports today, by withdrawing the benefit that was
allowed only yesterday. The Directorate General of Foreign Trade
revoked yesterday's notification which had restored the duty
entitlement pass book scheme refund of local taxes on cement
exports.
India's largest truck maker by sales Tata Motors rose 1.43% to Rs
571 after the company said on Monday it had completed the $2.3
billion acquisition of British luxury brands Jaguar and Land Rover.
Wipro (up 2.57% to Rs 508), ONGC (up 1.49% to Rs 845.55), DLF (up
2.53% to Rs 582), and Cipla (up 1.49% to Rs 210.85), edged higher
from Sensex pack.
Reliance Industries was the top traded counter on BSE with turnover
of Rs 278.70 crore followed by Reliance Capital (Rs 211.62 crore),
Essar Oil (Rs 165.49 crore), Reliance Petroleum (Rs 155.16 crore),
and IFCI (Rs 128.35 crore), in that order.
IFCI topped the volumes chart clocking volumes of 2.14 crore shares
followed by Ispat Industries (1.45 crore shares), Aishwarya Telecom
(1.12 crore shares), Chambal Fertilisers (98 lakh shares) and
Reliance Natural Resources (96 lakh shares), in that order.
Shares of air carriers slipped after they raised fuel surcharge in
line with rising jet fuel prices. Deccan Aviation (down 6.15% to Rs
104.50), SpiceJet (down 2.56% to Rs 30.50) and Jet Airways (down
0.33% to Rs 539.55) edged lower.
Punj Lloyd slipped 1.80% to Rs 281.95 after tumbling 10.53%
yesterday, 2 June 2008. The sell-off was triggered after the
company's auditors commented that no provision has been made for
expected losses of Rs 305 crore arising out of one of the
contracts.
Kirloskar Brothers declined 1.77% to Rs 222.50 even as the company
said it is reorganising its business into nine divisions to achieve
a revenue target of $1 billion by 2011.
Adhunik Metaliks rose 2.85% to Rs 179.50 after its board approved
initial public offer of the company's 100% subsidiary viz. Orissa
Manganese & Minerals. The company announced this after market hours
on Monday, 2 June 2008.
Mahanagar Telephone Nigam rose 2.50% to Rs 96.35 after its American
Depository Receipt surged 13.8% to $4.61 on the New York Stock
Exchange on Monday, 2 June 2008.
ABB declined 2.60% to Rs 999 despite winning an order worth Rs 295
crore to provide power solutions to JSW Energy for its upcoming
1200 megawatt thermal power plant in Ratnagiri, Maharashtra.
National Aluminium Company fell 4.26% to Rs 485 after the company
reportedly lowered price of flat-rolled products by as much as Rs
3,500 a tonne to Rs 159,400 a tonne
Prime Minister Manmohan Singh yesterday, 2 June 2008, indicated
that the government is left with no option but to hike the fuel
prices in the wake of soaring global crude oil prices. However
government's move to hike fuel price will face challenge from Left,
and may propel inflation above 10%.
On the other hand, if government does not hike prices, oil
marketing companies will go bankrupt, spoiling its report card.
European markets, which opened before Indian market, were mixed in
opening session. Key benchmark indices in United Kingdom (up 0.03%
to 6,009.40), and France (up 0.06% to 4,938.15), rose. However
Germany's DAX index slipped 0.46% to 6,976.87
Asian markets, which opened before Indian market, rebounded from
early lows, but were still in the red. Shanghai Composite (down
0.65% at 3,436.80), Japan's Nikkei (down 1.60% at 14,209.17), Hong
Kong's Hang Seng (down 1.83% at 24,375.76), Taiwan's Taiwan
Weighted (down 1.64% at 8,581.35), Straits Times (down 1.13% at
3,151.98) and South Korea's Seoul Composite (down 1.44% at 1,821),
edged lower.
US markets declined yesterday, 2 June 2008, on renewed fears that
the credit crunch is yet to run its course after S&P downgraded
debt ratings of three big securities companies. In the economic
news, the May Institute of Supply Management (ISM) index, rose
2.1%, suggesting a slight contraction in United States
manufacturing activity.
The Dow Jones industrial average plunged 134.50, or 1.06%, to
12,503.82. The S&P 500 index slipped 14.71 points, or 1.05%, to
1,385.67. The Nasdaq Composite index was down 31.13 points, or
1.23%, to 2,491.53.
US light crude for July delivery fell 50 cents a barrel to $127.26
today, 3 June 2008, as the start of the hurricane season stirred
concerns that oil and natural gas output could be disrupted in the
Gulf of Mexico. London Brent crude fell 80 cents to $127.22 a
barrel today
day's trading session led by recovery in Reliance Industries (RIL).
Panic selling in early trade by wary investors kept market
depressed in the first half. Fears in the market were that Left
parties might withdraw support to the government, which may lead to
early election. The market witnessed choppy swings throughout the
day. Cement sector was the start sector of the day.
European markets, which opened before Indian market, were mixed.
Asian markets which opened before Indian market recovered from
early lows.
The Revolutionary Socialist Party (RSP), a part of the Left front,
is reportedly pulling out of the United Progressive Alliance
(UPA)-Left coordination committee. RSP has been seeking withdrawal
of support to the UPA government since the last three years. The
party is now planning to to step up pressure on the other Left
parties to withdraw their support to the Manmohan Singh government,
reports suggest
The 30-share BSE Sensex settled 100.62 points or 0.63% lower at
15,962.56, after opening 211.46 points lower at 15,851.72. Sensex
shed 77.78 points at day's high of 15,985.40 hit in mid-afternoon
trade. The barometer index plunged 353.67 points at day's low of
15,709.51 hit mid-afternoon trade.
The broader based S&P CNX Nifty fell 23.70 points or 0.5% at
4,715.90. Nifty swung wildly in a range of 4634 and 4739.30 during
the day. Nifty June 2008 futures were at 4706, a discount of 9.9
points as compared to spot closing
The market breadth was weak on BSE with 1810 shares declining as
compared to 860 that advanced. 55 remained unchanged.
The BSE Mid-Cap index declined 0.56% to 6,547.30 and the BSE
Small-Cap index shed 0.97% to 7,882.29
The total turnover on BSE amounted to Rs 5229 crore as compared to
Rs 4,809.14 crore yesterday, 2 June 2008. Turnover in NSE's futures
& options segment amounted to Rs 40448.71 crore as compared to Rs
35257.77 crore yesterday, 2 June 2008.
Sectoral indices on BSE displayed mixed trend. The BSE Oil & Gas
index (up 2.02% to 10,412.49), BSE FMCG index (down 0.33% to
2,403.54), BSE Auto (up 0.27% at 4,370.05), BSE Health Care index
(up 0.23% at 4,360.26), BSE Realty index (down 0.02% at 6,726.25),
BSE Metal index (down 0.39% to 16,232.08), and BSE Consumer
Durables index (up 0.68% to 4,222.18), outperformed the Sensex.
The BSE Power (down 2.64% to 2,754.20), BSE Bankex (down 0.77% at
7,397.25), BSE Capital Goods index (down 2.24% at 12,521.25), BSE
TecK index (down 1.69% to 3,501.40), BSE PSU index (down 1.17% to
6,728.19), underperformed the Sensex.
Among the 30-member Sensex pack, 18 declined while the rest gained.
India's largest cellular services provider Bharti Airtel slumped
4.23% to Rs 840.55 on 4.15 lakh shares. The stock had hit an
intra-day high of Rs 868.65 in opening trade. It was the top loser
from Sensex pack.
Select Sensex stocks staged a smart recovery from early lows.
Reliance Infrastructure (down 3.72% to Rs 1126.90, off day's low of
Rs 1085), HDFC (down 2.87% to Rs 2458, off day's low of Rs 2432),
Bharat Heavy Electricals (down 2.86% to Rs 1550, off day's low of
Rs 1501.15) and Jaiprakash Associates (down 2.31% to Rs 207, off
day's low of Rs 200.20) recovered.
India's largest private sector company in terms of market
capitalisation and oil refiner Reliance Industries (RIL) advanced
2.31% to Rs 2410 on 11.65 lakh shares. As per reports, the Punjab
Infrastructure Development Board (PIDB) has received proposals from
Reliance Industries and Omaxe to set up an expressway from
Pathankot to Ajmer and a ring road around Amritsar respectively.
India's fourth largest software services exporter Satyam Computer
Services shed 3.31% to Rs 501.50 after Upaid Systems said it has
filed fresh claims as part of court proceedings against Satyam in a
US court, which could raise possible damages beyond the earlier
stated $1 billion.
In 2005, a patent infringement court case was initiated in Texas
against third parties which revealed the use of forged signatures
by Satyam employees on critical documents provided to Upaid by
Satyam.
India's largest private sector engineering company in terms of
order book Larsen & Toubro declined 2.44% to Rs 2845. The company
said on Monday, 2 June 2008, it is seeking shareholders' approval
to transfer its medical equipment and systems business to a
subsidiary or to sell it.
Private sector banking shares declined tracking fall in their
American Depository Receipt (ADRs) on the New York Stock Exchange
yesterday, 2 June 2008. ICICI Bank lost 0.90% to Rs 757.95 after
its ADR slumped 6% and HDFC Bank shed 0.40% to Rs 1306 after its
ADR fell 5.5%.
India's largest bank in terms of market capitalisation State Bank
of India (SBI) slipped 0.94% to Rs 1381
India's second largest software services exporter Infosys
Technologies was down 1.38% to Rs 1924, off day's low of Rs 1882.
The company received two patents from US Patent and Trademark
Office in the areas of holography and mobile communications. The
company made this announcement during trading hours today, 3 June
2008.
India's largest pharma company in terms of sales Ranbaxy
laboratories surged 3.67% to Rs 532.90 on 4.34 lakh shares. It was
the top gainer from Sensex pack
Cement shares advanced on fresh buying. India's largest cement
company in terms of sales ACC advanced 3.50% to Rs 648. The company
has reportedly short listed some companies for acquisition. ACC has
cash reserves of Rs 1000 crore which it would use for expansion and
acquisition, reports suggest.
India's second largest cement company in terms of sales Ambuja
Cements rose 0.16% to Rs 92.40 even on company said its cement
shipments fell 1% to 1.51 million tonnes in May 2008 over May 2007.
Ambuja Cements' production fell 1% to 1.49 million tonnes in May
2008 over May 2007.
UltraTech Cement Company (up 1.28% to Rs 650), Prism Cement (up
2.44% to Rs 37.80), India Cements (up 4.38% to Rs 165.85), and
Mysore Cements (up 6.42% to Rs 35.65) advanced.
As per reports, the government has done a flip flop on tax refunds
for cement exports today, by withdrawing the benefit that was
allowed only yesterday. The Directorate General of Foreign Trade
revoked yesterday's notification which had restored the duty
entitlement pass book scheme refund of local taxes on cement
exports.
India's largest truck maker by sales Tata Motors rose 1.43% to Rs
571 after the company said on Monday it had completed the $2.3
billion acquisition of British luxury brands Jaguar and Land Rover.
Wipro (up 2.57% to Rs 508), ONGC (up 1.49% to Rs 845.55), DLF (up
2.53% to Rs 582), and Cipla (up 1.49% to Rs 210.85), edged higher
from Sensex pack.
Reliance Industries was the top traded counter on BSE with turnover
of Rs 278.70 crore followed by Reliance Capital (Rs 211.62 crore),
Essar Oil (Rs 165.49 crore), Reliance Petroleum (Rs 155.16 crore),
and IFCI (Rs 128.35 crore), in that order.
IFCI topped the volumes chart clocking volumes of 2.14 crore shares
followed by Ispat Industries (1.45 crore shares), Aishwarya Telecom
(1.12 crore shares), Chambal Fertilisers (98 lakh shares) and
Reliance Natural Resources (96 lakh shares), in that order.
Shares of air carriers slipped after they raised fuel surcharge in
line with rising jet fuel prices. Deccan Aviation (down 6.15% to Rs
104.50), SpiceJet (down 2.56% to Rs 30.50) and Jet Airways (down
0.33% to Rs 539.55) edged lower.
Punj Lloyd slipped 1.80% to Rs 281.95 after tumbling 10.53%
yesterday, 2 June 2008. The sell-off was triggered after the
company's auditors commented that no provision has been made for
expected losses of Rs 305 crore arising out of one of the
contracts.
Kirloskar Brothers declined 1.77% to Rs 222.50 even as the company
said it is reorganising its business into nine divisions to achieve
a revenue target of $1 billion by 2011.
Adhunik Metaliks rose 2.85% to Rs 179.50 after its board approved
initial public offer of the company's 100% subsidiary viz. Orissa
Manganese & Minerals. The company announced this after market hours
on Monday, 2 June 2008.
Mahanagar Telephone Nigam rose 2.50% to Rs 96.35 after its American
Depository Receipt surged 13.8% to $4.61 on the New York Stock
Exchange on Monday, 2 June 2008.
ABB declined 2.60% to Rs 999 despite winning an order worth Rs 295
crore to provide power solutions to JSW Energy for its upcoming
1200 megawatt thermal power plant in Ratnagiri, Maharashtra.
National Aluminium Company fell 4.26% to Rs 485 after the company
reportedly lowered price of flat-rolled products by as much as Rs
3,500 a tonne to Rs 159,400 a tonne
Prime Minister Manmohan Singh yesterday, 2 June 2008, indicated
that the government is left with no option but to hike the fuel
prices in the wake of soaring global crude oil prices. However
government's move to hike fuel price will face challenge from Left,
and may propel inflation above 10%.
On the other hand, if government does not hike prices, oil
marketing companies will go bankrupt, spoiling its report card.
European markets, which opened before Indian market, were mixed in
opening session. Key benchmark indices in United Kingdom (up 0.03%
to 6,009.40), and France (up 0.06% to 4,938.15), rose. However
Germany's DAX index slipped 0.46% to 6,976.87
Asian markets, which opened before Indian market, rebounded from
early lows, but were still in the red. Shanghai Composite (down
0.65% at 3,436.80), Japan's Nikkei (down 1.60% at 14,209.17), Hong
Kong's Hang Seng (down 1.83% at 24,375.76), Taiwan's Taiwan
Weighted (down 1.64% at 8,581.35), Straits Times (down 1.13% at
3,151.98) and South Korea's Seoul Composite (down 1.44% at 1,821),
edged lower.
US markets declined yesterday, 2 June 2008, on renewed fears that
the credit crunch is yet to run its course after S&P downgraded
debt ratings of three big securities companies. In the economic
news, the May Institute of Supply Management (ISM) index, rose
2.1%, suggesting a slight contraction in United States
manufacturing activity.
The Dow Jones industrial average plunged 134.50, or 1.06%, to
12,503.82. The S&P 500 index slipped 14.71 points, or 1.05%, to
1,385.67. The Nasdaq Composite index was down 31.13 points, or
1.23%, to 2,491.53.
US light crude for July delivery fell 50 cents a barrel to $127.26
today, 3 June 2008, as the start of the hurricane season stirred
concerns that oil and natural gas output could be disrupted in the
Gulf of Mexico. London Brent crude fell 80 cents to $127.22 a
barrel today
Tuesday, June 3, 2008
Market plunges in opening trade
Wary investors pressed sales for second straight day over uncertainty that Left parties may withdraw support to the government leading to early election. It experienced bout of volatility in early trade. The BSE Sensex cracked below the 16,000 mark in opening trade. Market breadth was weak. Weak global cues also dampened sentiment in early trade.
At 10:25 IST, the 30-share BSE Sensex was down 214.32 points or 1.33% at 15,848.36. It opened 211.46 points lower at 15,851.72 and slipped further to touch a low of 15,786.73 in early trade. At the day’s low, the Sensex lost 276.45 points. At the day’s high of 15,906.77, Sensex lost 156.41 points.
The broader based S&P CNX Nifty was down 60.70 points or 1.28% at 4,678.60
The market breadth was weak on BSE with 1475 shares declining as compared to 285 that advanced. 25 remained unchanged.
The total turnover on BSE amounted to Rs 843 crore
Among the 30-member Sensex pack, 23 advanced while the rest slipped.
India’s largest private sector power utility company in terms of sales, Reliance Infrastructure slumped 4.73% to Rs 1113 on 82,365 shares. It was the top loser from Sensex pack.
Satyam Computer Services (down 4.46% to Rs 495.50), Bharat Heavy Electricals (down 3.17% to Rs 1545), and Hindalco Industries (down 2.80% to Rs 177.15), edged lower from Sensex pack.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) was up 0.86% to Rs 2376 on 1.32 lakh shares. It was the top gainer from Sensex pack. The stock moved in a range of Rs 2318.60 and Rs 2378.45 so far during the day.
ONGC (up 0.59% to Rs 838), Tata Motors (down 0.74% to Rs 567.10), and Grasim Industries (up 0.82% to Rs 2229.50), edged higher from Sensex pack
At 10:25 IST, the 30-share BSE Sensex was down 214.32 points or 1.33% at 15,848.36. It opened 211.46 points lower at 15,851.72 and slipped further to touch a low of 15,786.73 in early trade. At the day’s low, the Sensex lost 276.45 points. At the day’s high of 15,906.77, Sensex lost 156.41 points.
The broader based S&P CNX Nifty was down 60.70 points or 1.28% at 4,678.60
The market breadth was weak on BSE with 1475 shares declining as compared to 285 that advanced. 25 remained unchanged.
The total turnover on BSE amounted to Rs 843 crore
Among the 30-member Sensex pack, 23 advanced while the rest slipped.
India’s largest private sector power utility company in terms of sales, Reliance Infrastructure slumped 4.73% to Rs 1113 on 82,365 shares. It was the top loser from Sensex pack.
Satyam Computer Services (down 4.46% to Rs 495.50), Bharat Heavy Electricals (down 3.17% to Rs 1545), and Hindalco Industries (down 2.80% to Rs 177.15), edged lower from Sensex pack.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) was up 0.86% to Rs 2376 on 1.32 lakh shares. It was the top gainer from Sensex pack. The stock moved in a range of Rs 2318.60 and Rs 2378.45 so far during the day.
ONGC (up 0.59% to Rs 838), Tata Motors (down 0.74% to Rs 567.10), and Grasim Industries (up 0.82% to Rs 2229.50), edged higher from Sensex pack
Pre Market Report 03/06/2008
Local equities are braced for lower start tracking weakness in global markets. However local factors like fears of early election would play a bigger role in influencing the near term market trend. Wary investors had pressed heavy sales yesterday, 2 June 2008 over uncertainty that Left parties may withdraw support to the government.
Prime Minister Manmohan Singh reportedly said that the government is left with no option but to hike the fuel prices in the wake of soaring global crude oil prices. However government's move to hike fuel price will face challenge from Left, and may propel inflation above 10%.
On the other hand, if government does not hike prices, oil marketing companies will go bankrupt, spoiling its report card.
In coming weeks, markemen would be eyeing two things. One would be progress of monsoon and second would be the advance tax figures.
Asian markets were trading weak today, 3 June 2008. Shanghai Composite (down 0.46% at 3,443.10), Japan's Nikkei (down 1.51% at 14,221.79), Hong Kong's Hang Seng (down 1.49% at 24,461.11), Taiwan's Taiwan Weighted (down 0.84% at 8,651.14), Straits Times (down 0.96% at 3,157.45) and South Korea's Seoul Composite (down 1.17% at 1,825.89), edged lower.
US markets declined yesterday, 2 June 2008, on renewed fears that the credit crunch is yet to run its course after S&P downgraded debt ratings of three big securities companies. In the economic news, the May ISM index, rose 2.1%, suggesting a slight contraction in United States manufacturing activity.
The Dow Jones industrial average plunged 134.50, or 1.06%, to 12,503.82. The S&P 500 index slipped 14.71 points, or 1.05%, to 1,385.67. The Nasdaq Composite index was down 31.13 points, or 1.23%, to 2,491.53.
Back home, mounting political concern rattled bourses since second half of day's trading session, wiping-off steady early gains, yesterday, 2 June 2008. The 30-share BSE Sensex eroded a sharp 352.39 points or 2.15% to 16,063.18 and the broader based S&P CNX Nifty declined 130.5 points or 2.68% to shut shop at 4,739.60, on that day.
As per provisional data, foreign funds sold shares worth a net Rs 349.84 crore yesterday, 2 June 2008. Domestic funds bought shares worth a net Rs 9.81 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 242.85 crore in the futures & options segment yesterday, 2 June 2008. They were net sellers of index futures to the tune of Rs 923.24 crore and bought index options worth Rs 759.95 crore. They were net buyers of stock futures to the tune of Rs 390.03 crore and bought stock options worth Rs 16.11 crore.
Prime Minister Manmohan Singh reportedly said that the government is left with no option but to hike the fuel prices in the wake of soaring global crude oil prices. However government's move to hike fuel price will face challenge from Left, and may propel inflation above 10%.
On the other hand, if government does not hike prices, oil marketing companies will go bankrupt, spoiling its report card.
In coming weeks, markemen would be eyeing two things. One would be progress of monsoon and second would be the advance tax figures.
Asian markets were trading weak today, 3 June 2008. Shanghai Composite (down 0.46% at 3,443.10), Japan's Nikkei (down 1.51% at 14,221.79), Hong Kong's Hang Seng (down 1.49% at 24,461.11), Taiwan's Taiwan Weighted (down 0.84% at 8,651.14), Straits Times (down 0.96% at 3,157.45) and South Korea's Seoul Composite (down 1.17% at 1,825.89), edged lower.
US markets declined yesterday, 2 June 2008, on renewed fears that the credit crunch is yet to run its course after S&P downgraded debt ratings of three big securities companies. In the economic news, the May ISM index, rose 2.1%, suggesting a slight contraction in United States manufacturing activity.
The Dow Jones industrial average plunged 134.50, or 1.06%, to 12,503.82. The S&P 500 index slipped 14.71 points, or 1.05%, to 1,385.67. The Nasdaq Composite index was down 31.13 points, or 1.23%, to 2,491.53.
Back home, mounting political concern rattled bourses since second half of day's trading session, wiping-off steady early gains, yesterday, 2 June 2008. The 30-share BSE Sensex eroded a sharp 352.39 points or 2.15% to 16,063.18 and the broader based S&P CNX Nifty declined 130.5 points or 2.68% to shut shop at 4,739.60, on that day.
As per provisional data, foreign funds sold shares worth a net Rs 349.84 crore yesterday, 2 June 2008. Domestic funds bought shares worth a net Rs 9.81 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 242.85 crore in the futures & options segment yesterday, 2 June 2008. They were net sellers of index futures to the tune of Rs 923.24 crore and bought index options worth Rs 759.95 crore. They were net buyers of stock futures to the tune of Rs 390.03 crore and bought stock options worth Rs 16.11 crore.
Post Market Report 02.06.2008
Mounting political concern was the key culprit that haunted bourses
since second half of day's trading session, wiping-off steady early
gains. A late sell-off resulted in the benchmark index BSE Sensex
cracking below the physcological 16,000 mark, only to close
slightly above that level. However the S&P CNX Nifty shut shop
below 4,750 level. The market breadth was weak. Asian markets,
which opened before Indian markets were firm.
The market which was firm till early afternoon trade, witnessed a
sharp sell-off thereafter triggered by reports that the
Revolutionary Socialist Party (RSP), a member of the Left Front led
by the Communist Party of India-Marxist (CPM) was pulling out of
the United Progressive Alliance (UPA)-Left coordination committee.
Wary investors pressed sales over uncertainty that Left parties may
withdraw support to the government.
Weak European markets, slower manufacturing growth and widening
trade deficit, were the other demons that haunted the markets.
Shares from realty, metal and banking were axed brutally. However
auto stocks held firm throughout the day.
The 30-share BSE Sensex eroded a sharp 352.39 points or 2.15% to
16,063.18. The index climbed 217.15 points at day's high of
16,632.72, hit at the onset of trading session. Sensex lost 424.36
points at day's low of 15991.21.
The broader based S&P CNX Nifty declined 130.5 points or 2.68% to
shut shop at 4,739.60. Nifty has struck an intra-day high of
4,908.80 in opening trade. Nifty June 2008 futures were at 4696, a
sharp discount of 43.60 points as compared to spot closing of
4739.60.
The market breadth was weak on BSE with 600 shares advancing as
compared to 2066 stocks that declined. 50 stocks remained
unchanged.
The BSE Mid-Cap index declined 2.61% to 6,584.19 and BSE Small-Cap
index down 2.13% to 7,959.51.
Among the sectoral indices on BSE, the BSE Realty index (down 4% at
6,728.13), BSE PSU index (down 3.84% to 6,087.83), BSE Metal index
(down 3.66% to 16,295.26), BSE Power (down 3.66% to 2,828.74), BSE
Bankex (down 3.37% at 7,454.33), BSE Consumer Durables index (up
2.94% to 4,193.75), underperformed Sensex.
However the BSE Auto index (up 0.06% at 4,358.21), BSE FMCG index
(down 0.67% at 2,411.48), BSE Health Care index (down 1.04% at
4,350.42), BSE IT index (down 1.37% to 4,580.35), BSE TecK index
(down 1.48% to 3,561.57), BSE Oil & Gas index (down 1.83% to
10,206.71) BSE Capital Goods index (down 2.6% at 12,808.75)
outperformed Sensex.
BSE clocked a turnover of Rs 4,779 crore today compared to a
turnover of Rs 5514.14 crore on 30 May 2008.
The NSE futures & options (F&O) segment turnover was Rs 35,257.77
crore, which was slightly lower than Rs 35,883.79 crore on Friday,
30 May 2008.
Prime Minister Manmohan Singh reportedly said that the government
is left with no option but to hike the fuel prices in the wake of
soaring global crude oil prices. However government's move to hike
fuel price will face challenge from Left, and may propel inflation
above 10%.
On the other hand, if government does not hike prices, oil
marketing companies will go bankrupt, spoiling its report card.
As per petroleum minister's proposal, a hike of Rs 10 a litre in
petrol prices, Rs 5 per litre in diesel and Rs 50 per cylinder in
cooking fuel is to be considered to cut losses being incurred by
the state-run firms. But the Left parties had said they would
oppose any move to hike prices of transport and cooking fuels since
the average citizen was already burdened by high inflation.
Indian manufacturing activity slowed a fraction in May 2008 to its
lowest in 10 months, although output and new export orders rose,
but input and factory gate prices increased, a survey showed. The
ABN AMRO Bank purchasing managers' index (PMI) was a seasonally
adjusted 57.4 in May 2008 after 57.5 in April 2008, significantly
below its December 2007 reading of 61.9 which was the highest in
the survey's three-year history.
Meanwhile, trade deficit widened to $9.87 billion in April 2008 as
against $6.81 billion in April 2007. Exports grew to $14.4 billion
in April 2008-09, against $10.95 billion a year ago.
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries declined 1.91% to Rs 2,355.70. It
came off from its high of Rs 2437.
Interest rate sensitives, realty and banking sectors suffered sharp
cut in today's trade. Indiabulls real Estate (down 1.86% to Rs
472.20), Unitech (down 6.47% to Rs 217.45) and DLF (down 3.37% to
Rs 567.65) edged lower from real estate sector.
Banking stocks declined on fears of further surge in inflation post
fuel price hike. HDFC Bank (down 3.78% to Rs 1,306.55), ICICI Bank
(down 2.97% to Rs 764.85) and State Bank of India (down 3.41% to Rs
1,394.10) edged lower.
Metal stocks declined after the Centre withdrew duty drawback
benefits on all iron & steel shipments. The move was aimed at
discouraging exports in the face of domestic inflationary
pressures. Tata Steel (down 3.86% to Rs 868.05), National Aluminium
Company (down 5.11% to Rs 506.60) and Hindalco Industries (down
5.05% to Rs 182.25), Steel Authority of India (down 3.54% to Rs
154) edged lower.
Power stocks declined on profit booing. Reliance Infrastructure
(down 4.9% to Rs 1,170.40), NTPC (down 6.39% to Rs 161.25), Power
Grid Corporation of India (down 4.11% to Rs 94.45), Reliance Power
(down 3.07% to Rs 228.60) and Tata Power Company (down 4.77% to Rs
1,292) declined.
However auto stocks held gains after posting rise in May 2008
monthly sales. Bajaj Auto rose 0.27% to Rs 576 after posting 7.57%
rise in motorcycle sales to 179,649 units in May 2008 over May
2007.The sale of total two wheelers rose 6.86% to 180,935 units, in
May 2008 over May 2007. The total two and three wheeler sale rose
by 4.17% to 201,511 units in May 2008 over May 2007.
India's largest motorcycle maker by sales Hero Honda Motors rose
5.6% to Rs 788.55. It reported a 9.54 % rise in its motorcycle
sales in May 2008 at 3,12,317 units as compared with 2,85,109 units
in May 2007.
India's largest car maker by sales Maruti Suzuki India rose 2.94%
to Rs 787. The company's total vehilcle sales rose 16% to 69,001
units in May 2008 over May 2007. Mahindra & Mahindra (up 0.76% to
Rs 597.05) edged higher. However Tata Motors declined 0.85% to Rs
572.
ITC (up 1.01% to Rs 219.85) and Bharti Airtel (up 0.14% to Rs
877.70) edged higher.
ACC (down 5.23% to Rs 626.10), Bharat Heavy Electricals (down4% to
Rs 1595.65), Reliance Communications (down 3.78% to Rs 555.35),
Ambuja Cements (down 3.1% to Rs 92.25), Ranbaxy Laboratories (down
2.76% to Rs 514.05), Wipro (down 2.51% to Rs 495.25 edged lower.
IFCI clocked the highest volume of 1.84 crore shares on BSE. Ispat
Industries (1.6 crore shares), Spice Communications (1.17 crore
shares), Chambal Fertilizers and Chemicals (1.14 crore shares) and
Reliance Natural Resources (94.69 lakh shares) are other volume
toppers in that order.
Essar Oil clocked the highest turnover of Rs 183.42 crore on BSE.
Reliance Capital (Rs 180.98 crore), Reliance Industries (Rs 173.06
crore), GSS America Infotech (Rs 142.8 crore) and Reliance
Petroleum (Rs 142.36 crore) are among other turnover toppers in
that order.
Among the side counters, private sector oil refiner Essar Oil
soared 5.61% to Rs 236.20. The company is reportedly mulling upto
$5 billion fresh debt to fund its $6 billion refinery capacity
expansion programme at Vadinar, Gujarat and for acquisition of oil
and gas blocks.
India's largest drug maker by market capitalisation Sun
Pharmaceuticals jumped 3.13% to Rs 1,446.80. The company reported
59.2% surge in net profit to Rs 247.89 crore on 32.1% rise in net
sales to Rs 780.74 crore in Q4 March 2008 over Q4 March 2007. The
company announced the results after trading hours on Friday, 30 May
2008.
Monsanto India plunged 14.12% to Rs 1653.10 after the company's
shares started trading at Rs 180 per share ex-dividend from today,
2 June 2008.
Sesa Goa slumped 7.94% to Rs 3,946.25 after reports that the
government has imposed 15% export duty on iron ore.
Zandu Pharmaceuticals Works galloped 19.54% to Rs 9,714.90 after
Emami raised its stake in the company to 27.51% for an undisclosed
amount.
Punj Lloyd plunged 10.53% to Rs 287.05 despite reporting 459.6%
surge in net profit to Rs 129.71 crore on 87.8% rise in net sales
to Rs 1499.40 crore in Q4 March 2008 over Q4 March 2007.
Sterlite Industries India declined 1.95% to Rs 916.70 after the
company agreed to buy assets of USA's third largest copper producer
Asarco for $2.6 billion in cash.
European markets, which opened after Indian market, were trading
weak. Key benchmark indices in France, Germany and UK were down by
between 1.1% to 1.36%.
Most of the Asian markets settled higher today, 2 June 2008. Hong
Kong's Hang Seng, Taiwan Weighted, Singapore's Straits Times and
Japan's Nikkei, China's Shanghai Composite were up by between 0.34%
to 1.22%.
However South Korea's Seoul Composite declined 0.24% at 1,847.99.
US markets closed mixed on Friday, 30 May 2008. Dell earnings were
better than expectations and rebound in oil price led technology
and energy shares higher. The Dow Jones industrial average fell 7.9
points to 12,638.32. However the technology-led Nasdaq Composite
index gained 14.34 points to 2, 522.66.
U.S. light, sweet crude oil futures dipped 14 cents to $127.21 a
barrel today, 2 June 2008 as traders took profits tracking the
dollar for direction.
India's GDP grew a strong 8.8% in Q4 March 2008 from a year
earlier, led by strong expansion in the services sector, data
released by the government on Friday, 30 May 2008 showed. The Q4
annual GDP growth matched an upwardly revised 8.8% growth in Q3
December 2007. The GDP growth was 9% in FY 2008 (year ended March
2008). The government had earlier estimated annual growth of 8.7%
in FY 2008.
India's inflation based on the wholesale price index rose 8.1% in
12 months to 17 May 2008, the highest reading in more than 3-½
years and above the previous week's annual rise of 7.82%,
government data released on Friday, 30 May 2008, showed. Inflation
for the week ended 22 March 2008 was revised upwards to 7.85% from
7%.
Liberalisation of imports, banning exports and a cut in excise and
customs duties are some of the many steps initiated by the United
Progressive Alliance (UPA) government to control inflation in the
country, Finance Minister P Chidambaram said on 1 June 2008.
since second half of day's trading session, wiping-off steady early
gains. A late sell-off resulted in the benchmark index BSE Sensex
cracking below the physcological 16,000 mark, only to close
slightly above that level. However the S&P CNX Nifty shut shop
below 4,750 level. The market breadth was weak. Asian markets,
which opened before Indian markets were firm.
The market which was firm till early afternoon trade, witnessed a
sharp sell-off thereafter triggered by reports that the
Revolutionary Socialist Party (RSP), a member of the Left Front led
by the Communist Party of India-Marxist (CPM) was pulling out of
the United Progressive Alliance (UPA)-Left coordination committee.
Wary investors pressed sales over uncertainty that Left parties may
withdraw support to the government.
Weak European markets, slower manufacturing growth and widening
trade deficit, were the other demons that haunted the markets.
Shares from realty, metal and banking were axed brutally. However
auto stocks held firm throughout the day.
The 30-share BSE Sensex eroded a sharp 352.39 points or 2.15% to
16,063.18. The index climbed 217.15 points at day's high of
16,632.72, hit at the onset of trading session. Sensex lost 424.36
points at day's low of 15991.21.
The broader based S&P CNX Nifty declined 130.5 points or 2.68% to
shut shop at 4,739.60. Nifty has struck an intra-day high of
4,908.80 in opening trade. Nifty June 2008 futures were at 4696, a
sharp discount of 43.60 points as compared to spot closing of
4739.60.
The market breadth was weak on BSE with 600 shares advancing as
compared to 2066 stocks that declined. 50 stocks remained
unchanged.
The BSE Mid-Cap index declined 2.61% to 6,584.19 and BSE Small-Cap
index down 2.13% to 7,959.51.
Among the sectoral indices on BSE, the BSE Realty index (down 4% at
6,728.13), BSE PSU index (down 3.84% to 6,087.83), BSE Metal index
(down 3.66% to 16,295.26), BSE Power (down 3.66% to 2,828.74), BSE
Bankex (down 3.37% at 7,454.33), BSE Consumer Durables index (up
2.94% to 4,193.75), underperformed Sensex.
However the BSE Auto index (up 0.06% at 4,358.21), BSE FMCG index
(down 0.67% at 2,411.48), BSE Health Care index (down 1.04% at
4,350.42), BSE IT index (down 1.37% to 4,580.35), BSE TecK index
(down 1.48% to 3,561.57), BSE Oil & Gas index (down 1.83% to
10,206.71) BSE Capital Goods index (down 2.6% at 12,808.75)
outperformed Sensex.
BSE clocked a turnover of Rs 4,779 crore today compared to a
turnover of Rs 5514.14 crore on 30 May 2008.
The NSE futures & options (F&O) segment turnover was Rs 35,257.77
crore, which was slightly lower than Rs 35,883.79 crore on Friday,
30 May 2008.
Prime Minister Manmohan Singh reportedly said that the government
is left with no option but to hike the fuel prices in the wake of
soaring global crude oil prices. However government's move to hike
fuel price will face challenge from Left, and may propel inflation
above 10%.
On the other hand, if government does not hike prices, oil
marketing companies will go bankrupt, spoiling its report card.
As per petroleum minister's proposal, a hike of Rs 10 a litre in
petrol prices, Rs 5 per litre in diesel and Rs 50 per cylinder in
cooking fuel is to be considered to cut losses being incurred by
the state-run firms. But the Left parties had said they would
oppose any move to hike prices of transport and cooking fuels since
the average citizen was already burdened by high inflation.
Indian manufacturing activity slowed a fraction in May 2008 to its
lowest in 10 months, although output and new export orders rose,
but input and factory gate prices increased, a survey showed. The
ABN AMRO Bank purchasing managers' index (PMI) was a seasonally
adjusted 57.4 in May 2008 after 57.5 in April 2008, significantly
below its December 2007 reading of 61.9 which was the highest in
the survey's three-year history.
Meanwhile, trade deficit widened to $9.87 billion in April 2008 as
against $6.81 billion in April 2007. Exports grew to $14.4 billion
in April 2008-09, against $10.95 billion a year ago.
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries declined 1.91% to Rs 2,355.70. It
came off from its high of Rs 2437.
Interest rate sensitives, realty and banking sectors suffered sharp
cut in today's trade. Indiabulls real Estate (down 1.86% to Rs
472.20), Unitech (down 6.47% to Rs 217.45) and DLF (down 3.37% to
Rs 567.65) edged lower from real estate sector.
Banking stocks declined on fears of further surge in inflation post
fuel price hike. HDFC Bank (down 3.78% to Rs 1,306.55), ICICI Bank
(down 2.97% to Rs 764.85) and State Bank of India (down 3.41% to Rs
1,394.10) edged lower.
Metal stocks declined after the Centre withdrew duty drawback
benefits on all iron & steel shipments. The move was aimed at
discouraging exports in the face of domestic inflationary
pressures. Tata Steel (down 3.86% to Rs 868.05), National Aluminium
Company (down 5.11% to Rs 506.60) and Hindalco Industries (down
5.05% to Rs 182.25), Steel Authority of India (down 3.54% to Rs
154) edged lower.
Power stocks declined on profit booing. Reliance Infrastructure
(down 4.9% to Rs 1,170.40), NTPC (down 6.39% to Rs 161.25), Power
Grid Corporation of India (down 4.11% to Rs 94.45), Reliance Power
(down 3.07% to Rs 228.60) and Tata Power Company (down 4.77% to Rs
1,292) declined.
However auto stocks held gains after posting rise in May 2008
monthly sales. Bajaj Auto rose 0.27% to Rs 576 after posting 7.57%
rise in motorcycle sales to 179,649 units in May 2008 over May
2007.The sale of total two wheelers rose 6.86% to 180,935 units, in
May 2008 over May 2007. The total two and three wheeler sale rose
by 4.17% to 201,511 units in May 2008 over May 2007.
India's largest motorcycle maker by sales Hero Honda Motors rose
5.6% to Rs 788.55. It reported a 9.54 % rise in its motorcycle
sales in May 2008 at 3,12,317 units as compared with 2,85,109 units
in May 2007.
India's largest car maker by sales Maruti Suzuki India rose 2.94%
to Rs 787. The company's total vehilcle sales rose 16% to 69,001
units in May 2008 over May 2007. Mahindra & Mahindra (up 0.76% to
Rs 597.05) edged higher. However Tata Motors declined 0.85% to Rs
572.
ITC (up 1.01% to Rs 219.85) and Bharti Airtel (up 0.14% to Rs
877.70) edged higher.
ACC (down 5.23% to Rs 626.10), Bharat Heavy Electricals (down4% to
Rs 1595.65), Reliance Communications (down 3.78% to Rs 555.35),
Ambuja Cements (down 3.1% to Rs 92.25), Ranbaxy Laboratories (down
2.76% to Rs 514.05), Wipro (down 2.51% to Rs 495.25 edged lower.
IFCI clocked the highest volume of 1.84 crore shares on BSE. Ispat
Industries (1.6 crore shares), Spice Communications (1.17 crore
shares), Chambal Fertilizers and Chemicals (1.14 crore shares) and
Reliance Natural Resources (94.69 lakh shares) are other volume
toppers in that order.
Essar Oil clocked the highest turnover of Rs 183.42 crore on BSE.
Reliance Capital (Rs 180.98 crore), Reliance Industries (Rs 173.06
crore), GSS America Infotech (Rs 142.8 crore) and Reliance
Petroleum (Rs 142.36 crore) are among other turnover toppers in
that order.
Among the side counters, private sector oil refiner Essar Oil
soared 5.61% to Rs 236.20. The company is reportedly mulling upto
$5 billion fresh debt to fund its $6 billion refinery capacity
expansion programme at Vadinar, Gujarat and for acquisition of oil
and gas blocks.
India's largest drug maker by market capitalisation Sun
Pharmaceuticals jumped 3.13% to Rs 1,446.80. The company reported
59.2% surge in net profit to Rs 247.89 crore on 32.1% rise in net
sales to Rs 780.74 crore in Q4 March 2008 over Q4 March 2007. The
company announced the results after trading hours on Friday, 30 May
2008.
Monsanto India plunged 14.12% to Rs 1653.10 after the company's
shares started trading at Rs 180 per share ex-dividend from today,
2 June 2008.
Sesa Goa slumped 7.94% to Rs 3,946.25 after reports that the
government has imposed 15% export duty on iron ore.
Zandu Pharmaceuticals Works galloped 19.54% to Rs 9,714.90 after
Emami raised its stake in the company to 27.51% for an undisclosed
amount.
Punj Lloyd plunged 10.53% to Rs 287.05 despite reporting 459.6%
surge in net profit to Rs 129.71 crore on 87.8% rise in net sales
to Rs 1499.40 crore in Q4 March 2008 over Q4 March 2007.
Sterlite Industries India declined 1.95% to Rs 916.70 after the
company agreed to buy assets of USA's third largest copper producer
Asarco for $2.6 billion in cash.
European markets, which opened after Indian market, were trading
weak. Key benchmark indices in France, Germany and UK were down by
between 1.1% to 1.36%.
Most of the Asian markets settled higher today, 2 June 2008. Hong
Kong's Hang Seng, Taiwan Weighted, Singapore's Straits Times and
Japan's Nikkei, China's Shanghai Composite were up by between 0.34%
to 1.22%.
However South Korea's Seoul Composite declined 0.24% at 1,847.99.
US markets closed mixed on Friday, 30 May 2008. Dell earnings were
better than expectations and rebound in oil price led technology
and energy shares higher. The Dow Jones industrial average fell 7.9
points to 12,638.32. However the technology-led Nasdaq Composite
index gained 14.34 points to 2, 522.66.
U.S. light, sweet crude oil futures dipped 14 cents to $127.21 a
barrel today, 2 June 2008 as traders took profits tracking the
dollar for direction.
India's GDP grew a strong 8.8% in Q4 March 2008 from a year
earlier, led by strong expansion in the services sector, data
released by the government on Friday, 30 May 2008 showed. The Q4
annual GDP growth matched an upwardly revised 8.8% growth in Q3
December 2007. The GDP growth was 9% in FY 2008 (year ended March
2008). The government had earlier estimated annual growth of 8.7%
in FY 2008.
India's inflation based on the wholesale price index rose 8.1% in
12 months to 17 May 2008, the highest reading in more than 3-½
years and above the previous week's annual rise of 7.82%,
government data released on Friday, 30 May 2008, showed. Inflation
for the week ended 22 March 2008 was revised upwards to 7.85% from
7%.
Liberalisation of imports, banning exports and a cut in excise and
customs duties are some of the many steps initiated by the United
Progressive Alliance (UPA) government to control inflation in the
country, Finance Minister P Chidambaram said on 1 June 2008.
Monday, June 2, 2008
Pre Market Report 02/06/2008
The market is likely to stay range-bound amidst flat global cues. In absence of any near term major domestic trigger with Q4 March 2008 results almost over, market is likely to dance in line with global cues.
However in coming weeks, markemen would be eyeing two things. One would be progress of monsoon and second would be the advance tax figures.
Sentiment may stay cautious ahead of the impending decision on fuel prices.
Asian markets were trading mixed today, 2 June 2008. Hong Kong's Hang Seng (up 0.24% at 24,592.62), Taiwan Weighted (up 0.72% at 8,681.30), Singapore's Straits Times (up 0.03% at 3,193.55) and Japan's Nikkei (up 0.21% at 14,349.15) advanced.
However China's Shanghai Composite (down 0.21% at 3,426.27), Seoul Composite (down 0.27% at 1,847.0), declined
US markets closed mixed on Friday, 30 May 2008. Dell earnings were better than expectations and rebound in oil price led technology and energy shares higher. The Dow Jones industrial average fell 7.9 points to 12,638.32. However the technology-led Nasdaq Composite index gained 14.34 points to 2, 522.66.
Back home, the market posted decent gains on Friday, 30 May 2008, led by fall in global crude oil prices and strong Q4 GDP data. The 30-share BSE Sensex rose 99.31 points or 0.61% to 16,415.57 and the broader based S&P CNX Nifty rose 34.8 points or 0.72% at 4870.10, on that day.
The BSE Sensex declined 234.07 points or 1.41% to 16,415.57 in the week ended Friday, 30 May 2008. S&P CNX Nifty lost 76.45 points or 1.54% to 4,870.10 in the week.
As per provisional data, foreign funds purchased shares worth a net Rs 106.37 crore on Friday, 30 May 2008. Domestic funds bought shares worth a net Rs 729.93 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 333.22 crore in the futures & options segment on Friday, 30 May 2008. They were net buyers of index futures to the tune of Rs 31.71 crore and bought index options worth Rs 577.10 crore. They were net sellers of stock futures to the tune of Rs 364.21 crore and bought stock options worth Rs 88.62 crore.
U.S. light, sweet crude oil futures dipped 14 cents to $127.21 a barrel today, 2 June 2008 as traders took profits tracking the dollar for direction.
India's GDP grew a strong 8.8% in Q4 March 2008 from a year earlier, led by strong expansion in the services sector, data released by the government on Friday, 30 May 2008 showed. The Q4 annual GDP growth matched an upwardly revised 8.8% growth in Q3 December 2007. The GDP growth was 9% in FY 2008 (year ended March 2008). The government had earlier estimated annual growth of 8.7% in FY 2008.
India's inflation based on the wholesale price index rose 8.1% in 12 months to 17 May 2008, the highest reading in more than 3-½ years and above the previous week's annual rise of 7.82%, government data released on Friday, 30 May 2008, showed. Inflation for the week ended 22 March 2008 was revised upwards to 7.85% from 7%.
However in coming weeks, markemen would be eyeing two things. One would be progress of monsoon and second would be the advance tax figures.
Sentiment may stay cautious ahead of the impending decision on fuel prices.
Asian markets were trading mixed today, 2 June 2008. Hong Kong's Hang Seng (up 0.24% at 24,592.62), Taiwan Weighted (up 0.72% at 8,681.30), Singapore's Straits Times (up 0.03% at 3,193.55) and Japan's Nikkei (up 0.21% at 14,349.15) advanced.
However China's Shanghai Composite (down 0.21% at 3,426.27), Seoul Composite (down 0.27% at 1,847.0), declined
US markets closed mixed on Friday, 30 May 2008. Dell earnings were better than expectations and rebound in oil price led technology and energy shares higher. The Dow Jones industrial average fell 7.9 points to 12,638.32. However the technology-led Nasdaq Composite index gained 14.34 points to 2, 522.66.
Back home, the market posted decent gains on Friday, 30 May 2008, led by fall in global crude oil prices and strong Q4 GDP data. The 30-share BSE Sensex rose 99.31 points or 0.61% to 16,415.57 and the broader based S&P CNX Nifty rose 34.8 points or 0.72% at 4870.10, on that day.
The BSE Sensex declined 234.07 points or 1.41% to 16,415.57 in the week ended Friday, 30 May 2008. S&P CNX Nifty lost 76.45 points or 1.54% to 4,870.10 in the week.
As per provisional data, foreign funds purchased shares worth a net Rs 106.37 crore on Friday, 30 May 2008. Domestic funds bought shares worth a net Rs 729.93 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 333.22 crore in the futures & options segment on Friday, 30 May 2008. They were net buyers of index futures to the tune of Rs 31.71 crore and bought index options worth Rs 577.10 crore. They were net sellers of stock futures to the tune of Rs 364.21 crore and bought stock options worth Rs 88.62 crore.
U.S. light, sweet crude oil futures dipped 14 cents to $127.21 a barrel today, 2 June 2008 as traders took profits tracking the dollar for direction.
India's GDP grew a strong 8.8% in Q4 March 2008 from a year earlier, led by strong expansion in the services sector, data released by the government on Friday, 30 May 2008 showed. The Q4 annual GDP growth matched an upwardly revised 8.8% growth in Q3 December 2007. The GDP growth was 9% in FY 2008 (year ended March 2008). The government had earlier estimated annual growth of 8.7% in FY 2008.
India's inflation based on the wholesale price index rose 8.1% in 12 months to 17 May 2008, the highest reading in more than 3-½ years and above the previous week's annual rise of 7.82%, government data released on Friday, 30 May 2008, showed. Inflation for the week ended 22 March 2008 was revised upwards to 7.85% from 7%.
Friday, May 30, 2008
Pre Market Report 30/05/2008
Local equities are likely to stay cautious as investors will keenly await the index of industrial production and inflation data.
Inflation rate in the week ended 17 May 2008 will be released by noon today. Inflation has surged to 7.82% in the week ended 10 May 2008.
However the marketmen will keenly watch the revision in provisional rate for 22 March 2008 fromthe earlier stated 7%, after data for 15 March 2008 was last week revised sharply upwards to 8.02% from 6.68% in previous week, making it the highest inflation rate since September 2004.
GDP data for the January-March quarter and revised numbers for 2007-08 will also be watched.
Derivative contracts for May 2008 series expired yesterday. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 66% as compared to 71% in the April 2008 to May 2008 series. Marketwide rollovers were 82% as compared 81% in the previous series.
Global cues were mixed. In absence of any near term major domestic trigger with Q4 March 2008 results almost over, market is likely to dance in line with global cues.
However in June 2008, markemen would be looking at two triggers. One would be progress of monsoon and second would be the advance tax figures.
Meanwhile in a move that could boost sentiment, market regulator Sebi yesterday, 29 May 2008 has revised the registration guidelines for foreign instutional investors (FIIs). Institutions set up by non-resident Indians can now register as FIIs and invest in the Indian stock markets.
Sebi has amended regulations for easier registration of FIIs and sub-accounts. It has also made AMCs, Investment Managers or advisors owned by NRI eligible for FII registration.
Sebi has allowed FIIs to invest in collective investment schemes. It has said that NRIs can register as FIIs if they do not invest their proprietary funds
Asian markets were trading mixed today, 30 May 2008. Shanghai Composite (up 0.74% at 3,426.53), Japan's Nikkei (up 0.82% at 14,240.35), Hong Kong's Hang Seng (up 0.06% at 24,399.23), rose.
However, Taiwan's Taiwan Weighted (donw 1.21% at 8,579.90), South Korea's Seoul Composite (down 0.39% at 1,833.98|) and Singapore's Straits Times (down 0.03% to 3,159.68) declined.
US markets advanced for a third straight day yesterday, 29 May 2008. The rally was lead by strength in the financial sector and a big decline in oil prices.The Dow Jones industrial average advanced 52.19 points, or 0.41%, to 12,646.22. The Standard & Poor's 500 index rose 7.42 points, or 0.53%, to 1,398.26, and the Nasdaq composite index gained 21.62 points, or 0.87%, to 2,508.32.
Back home, the 30-share BSE Sensex lost 209.11 points or 1.27% to 16,316.26 and the broader based S&P CNX Nifty plunged 83.05 points or 1.69% at 4835.30, yesterday 29 May 2008.
As per provisional data, foreign funds sold shares worth a net Rs 1277.63 crore yesterday, 29 May 2008. Domestic funds bought shares worth a net Rs 698 crore on that day.
Inflation rate in the week ended 17 May 2008 will be released by noon today. Inflation has surged to 7.82% in the week ended 10 May 2008.
However the marketmen will keenly watch the revision in provisional rate for 22 March 2008 fromthe earlier stated 7%, after data for 15 March 2008 was last week revised sharply upwards to 8.02% from 6.68% in previous week, making it the highest inflation rate since September 2004.
GDP data for the January-March quarter and revised numbers for 2007-08 will also be watched.
Derivative contracts for May 2008 series expired yesterday. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 66% as compared to 71% in the April 2008 to May 2008 series. Marketwide rollovers were 82% as compared 81% in the previous series.
Global cues were mixed. In absence of any near term major domestic trigger with Q4 March 2008 results almost over, market is likely to dance in line with global cues.
However in June 2008, markemen would be looking at two triggers. One would be progress of monsoon and second would be the advance tax figures.
Meanwhile in a move that could boost sentiment, market regulator Sebi yesterday, 29 May 2008 has revised the registration guidelines for foreign instutional investors (FIIs). Institutions set up by non-resident Indians can now register as FIIs and invest in the Indian stock markets.
Sebi has amended regulations for easier registration of FIIs and sub-accounts. It has also made AMCs, Investment Managers or advisors owned by NRI eligible for FII registration.
Sebi has allowed FIIs to invest in collective investment schemes. It has said that NRIs can register as FIIs if they do not invest their proprietary funds
Asian markets were trading mixed today, 30 May 2008. Shanghai Composite (up 0.74% at 3,426.53), Japan's Nikkei (up 0.82% at 14,240.35), Hong Kong's Hang Seng (up 0.06% at 24,399.23), rose.
However, Taiwan's Taiwan Weighted (donw 1.21% at 8,579.90), South Korea's Seoul Composite (down 0.39% at 1,833.98|) and Singapore's Straits Times (down 0.03% to 3,159.68) declined.
US markets advanced for a third straight day yesterday, 29 May 2008. The rally was lead by strength in the financial sector and a big decline in oil prices.The Dow Jones industrial average advanced 52.19 points, or 0.41%, to 12,646.22. The Standard & Poor's 500 index rose 7.42 points, or 0.53%, to 1,398.26, and the Nasdaq composite index gained 21.62 points, or 0.87%, to 2,508.32.
Back home, the 30-share BSE Sensex lost 209.11 points or 1.27% to 16,316.26 and the broader based S&P CNX Nifty plunged 83.05 points or 1.69% at 4835.30, yesterday 29 May 2008.
As per provisional data, foreign funds sold shares worth a net Rs 1277.63 crore yesterday, 29 May 2008. Domestic funds bought shares worth a net Rs 698 crore on that day.
Thursday, May 29, 2008
Market opens higher; breadth strong
Positive global cues helped the key benchmark indices open higher today. However, the market exhibited some volatility as May 2008 series futures & options are set to expiry today. Auto and information technology stocks declined. Realty stocks were in demand.
At 10:20 IST, the 30-share BSE Sensex was up 31.38 points or 0.19% to 16,556.75. The index climbed 140.66 points at day’s high of 16,666.03, hit in the onset of trading session.
The broader based S&P CNX Nifty was up 3.4 points or 0.07% at 4921.75.
As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 57% as compared to 62% in the April 2008 to May 2008 series, as on 28 May 2008. The marketwide rollovers were healthy, at 62% as compared 61% in the previous series.
US crude fell 76 cents to $130.27 a barrel, while London Brent crude fell 83 cents to $130.10 a barrel today, 29 May 2008, as a strengthening dollar more than offset fears of supply disruptions in Nigeria.
Asian markets were trading higher today, 29 May 2008. Key indices in Japan, Hong Kong, Taiwan, Singapore and South Korea were up by 0.21% at 3.05%. However, China’s Shanghai Composite was down 0.33%.
US markets ended higher yesterday, 28 May 2008, after a volatile session led by better-than-forecast durable goods orders and positive financial results from select retailers. The Dow Jones industrial average gained 46 points to 12,594. The Nasdaq Composite index rose 5 points to 2,487. The S&P 500 index garnered 5 points to 1,390.10.
The market breadth was strong on BSE with 1120 shares advancing as compared to 434 stocks that declined. 36 stocks remained unchanged.
The BSE Mid-Cap index rose 0.79% to 6,807.18 and BSE Small-Cap index rose 0.69% to 8,294.20.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.33% at Rs 2530.
India’s largest private sector bank by assets ICICI Bank fell 0.79% at Rs 826.70.
India’s largest engineering and construction firm by revenue Larsen & Toubro fell 0.75% to Rs 2729.50. The company will declare its Q4 March 2008-ended quarterly results on today, 29 May 2008. The stock has fallen 9.92% to Rs 2709.10 in one month to Wednesday, 28 May 2008.
The top Sensex gainers were, Housing Development Finance Corporation (up 2.72% at Rs 2583), Jaiprakash Associates (up 1.57% at Rs 232.95), Wipro (up 1.23% at Rs 512.40), Reliance Communication (up 1.39% at Rs 559.25), and Tata Steel (up 1.09% at Rs 912.50).
Top Sensex losers were, Tata Motors (down 3.92% at Rs 609.85), ITC (down 1.87% at Rs 217.40), Infosys Technologies (down 1.66% at Rs 1880.90), Ambuja Cements (down 1.59% at Rs 102.45), Maruti Suzuki (down 1.25% at Rs 768.10).
Chambal Fertilisers & Chemicals was the top traded counter on BSE in terms of turnover. The stock was up 1.53% at Rs 89.80 on a turnover of Rs 45.15 crore.
A sharp fall in crude oil prices, firm global cues and short covering in late trade, propelled the market higher yesterday, 28 May 2008. The 30-share BSE Sensex rose 249.78 points or 1.53% at 16,525.37 and the broader based S&P CNX Nifty was up 58.55 points or 1.20% at 4918.35, on that day.
At 10:20 IST, the 30-share BSE Sensex was up 31.38 points or 0.19% to 16,556.75. The index climbed 140.66 points at day’s high of 16,666.03, hit in the onset of trading session.
The broader based S&P CNX Nifty was up 3.4 points or 0.07% at 4921.75.
As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 57% as compared to 62% in the April 2008 to May 2008 series, as on 28 May 2008. The marketwide rollovers were healthy, at 62% as compared 61% in the previous series.
US crude fell 76 cents to $130.27 a barrel, while London Brent crude fell 83 cents to $130.10 a barrel today, 29 May 2008, as a strengthening dollar more than offset fears of supply disruptions in Nigeria.
Asian markets were trading higher today, 29 May 2008. Key indices in Japan, Hong Kong, Taiwan, Singapore and South Korea were up by 0.21% at 3.05%. However, China’s Shanghai Composite was down 0.33%.
US markets ended higher yesterday, 28 May 2008, after a volatile session led by better-than-forecast durable goods orders and positive financial results from select retailers. The Dow Jones industrial average gained 46 points to 12,594. The Nasdaq Composite index rose 5 points to 2,487. The S&P 500 index garnered 5 points to 1,390.10.
The market breadth was strong on BSE with 1120 shares advancing as compared to 434 stocks that declined. 36 stocks remained unchanged.
The BSE Mid-Cap index rose 0.79% to 6,807.18 and BSE Small-Cap index rose 0.69% to 8,294.20.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.33% at Rs 2530.
India’s largest private sector bank by assets ICICI Bank fell 0.79% at Rs 826.70.
India’s largest engineering and construction firm by revenue Larsen & Toubro fell 0.75% to Rs 2729.50. The company will declare its Q4 March 2008-ended quarterly results on today, 29 May 2008. The stock has fallen 9.92% to Rs 2709.10 in one month to Wednesday, 28 May 2008.
The top Sensex gainers were, Housing Development Finance Corporation (up 2.72% at Rs 2583), Jaiprakash Associates (up 1.57% at Rs 232.95), Wipro (up 1.23% at Rs 512.40), Reliance Communication (up 1.39% at Rs 559.25), and Tata Steel (up 1.09% at Rs 912.50).
Top Sensex losers were, Tata Motors (down 3.92% at Rs 609.85), ITC (down 1.87% at Rs 217.40), Infosys Technologies (down 1.66% at Rs 1880.90), Ambuja Cements (down 1.59% at Rs 102.45), Maruti Suzuki (down 1.25% at Rs 768.10).
Chambal Fertilisers & Chemicals was the top traded counter on BSE in terms of turnover. The stock was up 1.53% at Rs 89.80 on a turnover of Rs 45.15 crore.
A sharp fall in crude oil prices, firm global cues and short covering in late trade, propelled the market higher yesterday, 28 May 2008. The 30-share BSE Sensex rose 249.78 points or 1.53% at 16,525.37 and the broader based S&P CNX Nifty was up 58.55 points or 1.20% at 4918.35, on that day.
Pre Market Report 29/05/2008
The market is likely to exhibit volatile movements today, 29 May 2008 as May 2008 series futures & options are set for expiry today. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 57% as compared to 62% in the April 2008 to May 2008 series, as on 28 May 2008. However marketwide rollovers were healthy, at 62% as compared 61% in the previous series.
Global cues were positive. In absence of any near term major domestic trigger with Q4 March 2008 results almost over, market is likely to dance in line with global cues.
However in June 2008, markemen would be looking at two triggers. One would be progress of monsoon and second would be the advance tax figures.
Asian markets were trading higher today, 29 May 2008. Shanghai Composite (up 0.22% at 3,466.78), Japan's Nikkei (up 2.80% at 14,092.72), Hang Seng (up 0.91% at 24,470.65), Taiwan Weighted (up 0.87% at 8,740.79), Singapore's Straits Times (up 0.89% at 3,160.62) and South Korea's Seoul Composite (up 1.75% at 1,837.32), edged higher.
US markets ended higher yesterday, 28 May 2008, after a volatile session lead by better-than-forecast durable goods orders and positive financial results from select retailers. The Dow Jones industrial average gained 46 points to 12,594. The Nasdaq Composite index rose 5 points to 2,487. The S&P 500 index garnered 5 points to 1,390.10
Back home, a sharp fall in crude oil prices firm global cues and short covering in late trade, propelled the market yesterday, 28 May 2008. The 30-share BSE Sensex rose 249.78 points or 1.53% at 16,525.37 and the broader based S&P CNX Nifty was up 58.55 points or 1.20% at 4918.35, on that day.
As per provisional data, foreign funds sold shares worth a net Rs 883.23 crore yesterday, 28 May 2008. Domestic funds bought shares worth a net Rs 527.98 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 1503.25 crore in the futures & options segment yesterday, 27 May 2008. They were net buyers of index futures to the tune of Rs 522.92 crore and bought index options worth Rs 643.08 crore. They were net buyers of stock futures to the tune of Rs 236.44 crore and bought stock options worth Rs 100.81 crore.
U.S. crude fell 76 cents to $130.27 a barrel, while London Brent crude fell 83 cents to $130.10 a barrel today, 29 May 2008, as a strengthening dollar more than offset fears of supply disruptions in Nigeria.
Global cues were positive. In absence of any near term major domestic trigger with Q4 March 2008 results almost over, market is likely to dance in line with global cues.
However in June 2008, markemen would be looking at two triggers. One would be progress of monsoon and second would be the advance tax figures.
Asian markets were trading higher today, 29 May 2008. Shanghai Composite (up 0.22% at 3,466.78), Japan's Nikkei (up 2.80% at 14,092.72), Hang Seng (up 0.91% at 24,470.65), Taiwan Weighted (up 0.87% at 8,740.79), Singapore's Straits Times (up 0.89% at 3,160.62) and South Korea's Seoul Composite (up 1.75% at 1,837.32), edged higher.
US markets ended higher yesterday, 28 May 2008, after a volatile session lead by better-than-forecast durable goods orders and positive financial results from select retailers. The Dow Jones industrial average gained 46 points to 12,594. The Nasdaq Composite index rose 5 points to 2,487. The S&P 500 index garnered 5 points to 1,390.10
Back home, a sharp fall in crude oil prices firm global cues and short covering in late trade, propelled the market yesterday, 28 May 2008. The 30-share BSE Sensex rose 249.78 points or 1.53% at 16,525.37 and the broader based S&P CNX Nifty was up 58.55 points or 1.20% at 4918.35, on that day.
As per provisional data, foreign funds sold shares worth a net Rs 883.23 crore yesterday, 28 May 2008. Domestic funds bought shares worth a net Rs 527.98 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 1503.25 crore in the futures & options segment yesterday, 27 May 2008. They were net buyers of index futures to the tune of Rs 522.92 crore and bought index options worth Rs 643.08 crore. They were net buyers of stock futures to the tune of Rs 236.44 crore and bought stock options worth Rs 100.81 crore.
U.S. crude fell 76 cents to $130.27 a barrel, while London Brent crude fell 83 cents to $130.10 a barrel today, 29 May 2008, as a strengthening dollar more than offset fears of supply disruptions in Nigeria.
Wednesday, May 28, 2008
RIL leads recovery; breadth remains weak
The market edged higher in the early afternoon trade as index heavyweight Reliance Industries firmed up. FMCG stocks extended gains, while banking shares recovered. Fertiliser stocks were in demand.
At 12:20 IST, the 30-share BSE Sensex was up 71 points or 0.44% at 16,346.59. The index climbed 94.64 points at day’s high of 16,370.23, hit in the onset of trading session. The Sensex lost 57.81 points at the day’s low of 16,217.78, hit in early trade
The broader based S&P CNX Nifty was up 4.35 points or 0.09% at 4864.15.
US crude fell 5 cents to $128.80 a barrel today, 28 May 2008, on weakening demand from Asia. Oil has been falling steadily every since it hit a record high $135.09 last week.
Expiry of May 2008 futures & options series on Thursday, 29 May 2008 kept the market volatile. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 45.63% as on 27 May 2008. Rollover of individual stock futures has been lacklustre so far.
Asian markets were mixed today, 28 May 2008. Key indices in Hong Kong, Japan, South Korea and Taiwan were down by 0.33% to 1.28%. However, China’s Shanghai Composite (up 1.32%), and Singapore’s Straits Times (up 0.01%), rose.
US markets advanced yesterday, 28 May 2008, led by technology companies and further drop in crude oil prices. The Dow Jones industrial average advanced 68.72 points, or 0.55%, to 12,548.35. The S&P 500 index gained 9.42 points, or 0.68%, to 1,385.35, and the Nasdaq Composite index surged 36.57 points, or 1.50%, to 2,481.24.
The market breadth was weak on BSE with 1051 shares advancing as compared to 1401 stocks that declined. 77 stocks remained unchanged.
The BSE Mid-Cap index rose 0.09% to 6,684.60 and BSE Small-Cap index fell 0.26% to 8,188.99.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 1.07% at Rs 2520.
The top Sensex gainers were, Ambuja Cements (up 4.41% at Rs 101.90), Hindalco Industries (up 3.23% at Rs 191.50), Satyam Computer (up 2.30% at Rs 510.50), TCS (up 1.90% at Rs 985), Bharti Airtel (up 1.27% at Rs 874) and Ranbaxy Laboratories (up 1.32% at Rs 500).
Top Sensex losers were, Bharat Heavy Electricals (down 3.61% at Rs 1598), Larsen & Toubro (down 2% at Rs 2688), Tata Motors (down 1.45% at Rs 617.50), ONGC (down 1.51% at Rs 871) and Reliance Communication (down 1.51% at Rs 543.40).
Fertiliser shares galloped on reports that the government has provided fertiliser subsidy of Rs 95000 crore for 2008/09, much higher from earlier budget estimates of Rs 31000 crore. Tata Chemicals (up 4.41% to Rs 395.55), National Fertiliser (up 13.26% at Rs 53.80), Gujarat State Fertiliser Corporation (up 7.77% to Rs 179), Chambal Fertilisers and Chemicals (up 5.50% to Rs 80.60), Rashtriya Chemicals and Fertilisers (up 5% to Rs 71.25), Nagarjuna Fertilisers and Chemicals (up 3.95% to Rs 47.356.80), and Zuari Industries (up 3.44% to Rs 236), soared.
The BSE FMCG index was up 2.32% at 2,399.74. ITC (up 3.90% at Rs 217.25), United Spirits (up 2.16% at Rs 1,584), GlaxoSmithkline Consumer Healthcare (up 2.14% at Rs 715), and Hinduatan Unilever (up 1.36% at Rs 235.50), flared up.
The BSE Bankex was up 0.52% at 7,794.79. Axis Bank (up 4.34% at Rs 772.50), Canara Bank (up 1.25% at Rs 218.90), State Bank of India (up 0.55% at Rs 1,481.40) and HDFC Bank (up 0.11% at Rs 1,332.80), gained.
India’s largest private sector bank by assets ICICI Bank fell 0.31% at Rs 810.
Among the side counters, Jindal Steel & Power (down 3.69% at Rs 2,124.05), Century Textiles and Industries (down 3.61% at Rs 688.10), Alstom Projects (up 3.60% at Rs 546.40), Cairn India (down 3.60% at Rs 287.60), and Jai Corp (down 3.57% at Rs 611.90), slipped.
Auto component maker Minda Industries jumped 4.42% at Rs 308.05 after the firm said it bagged orders worth Rs 50 crore from Volkswagen to supply headlamps and rear combination lamps for its upcoming models.
Mechanical handling equipment maker Elecon Engineering Company gained 1.24% to Rs 126.95 on reports the Gujarat-based company is in talks with a European company for an acquisition in a bid to establish a global footprint.
Software developer Compucom Software rose 4.87% to Rs 32.30 on bagging an order worth Rs 142 crore from the secondary education department, Government of Rajasthan for executing ICT project in 2292 government schools in the state
At 12:20 IST, the 30-share BSE Sensex was up 71 points or 0.44% at 16,346.59. The index climbed 94.64 points at day’s high of 16,370.23, hit in the onset of trading session. The Sensex lost 57.81 points at the day’s low of 16,217.78, hit in early trade
The broader based S&P CNX Nifty was up 4.35 points or 0.09% at 4864.15.
US crude fell 5 cents to $128.80 a barrel today, 28 May 2008, on weakening demand from Asia. Oil has been falling steadily every since it hit a record high $135.09 last week.
Expiry of May 2008 futures & options series on Thursday, 29 May 2008 kept the market volatile. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 45.63% as on 27 May 2008. Rollover of individual stock futures has been lacklustre so far.
Asian markets were mixed today, 28 May 2008. Key indices in Hong Kong, Japan, South Korea and Taiwan were down by 0.33% to 1.28%. However, China’s Shanghai Composite (up 1.32%), and Singapore’s Straits Times (up 0.01%), rose.
US markets advanced yesterday, 28 May 2008, led by technology companies and further drop in crude oil prices. The Dow Jones industrial average advanced 68.72 points, or 0.55%, to 12,548.35. The S&P 500 index gained 9.42 points, or 0.68%, to 1,385.35, and the Nasdaq Composite index surged 36.57 points, or 1.50%, to 2,481.24.
The market breadth was weak on BSE with 1051 shares advancing as compared to 1401 stocks that declined. 77 stocks remained unchanged.
The BSE Mid-Cap index rose 0.09% to 6,684.60 and BSE Small-Cap index fell 0.26% to 8,188.99.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 1.07% at Rs 2520.
The top Sensex gainers were, Ambuja Cements (up 4.41% at Rs 101.90), Hindalco Industries (up 3.23% at Rs 191.50), Satyam Computer (up 2.30% at Rs 510.50), TCS (up 1.90% at Rs 985), Bharti Airtel (up 1.27% at Rs 874) and Ranbaxy Laboratories (up 1.32% at Rs 500).
Top Sensex losers were, Bharat Heavy Electricals (down 3.61% at Rs 1598), Larsen & Toubro (down 2% at Rs 2688), Tata Motors (down 1.45% at Rs 617.50), ONGC (down 1.51% at Rs 871) and Reliance Communication (down 1.51% at Rs 543.40).
Fertiliser shares galloped on reports that the government has provided fertiliser subsidy of Rs 95000 crore for 2008/09, much higher from earlier budget estimates of Rs 31000 crore. Tata Chemicals (up 4.41% to Rs 395.55), National Fertiliser (up 13.26% at Rs 53.80), Gujarat State Fertiliser Corporation (up 7.77% to Rs 179), Chambal Fertilisers and Chemicals (up 5.50% to Rs 80.60), Rashtriya Chemicals and Fertilisers (up 5% to Rs 71.25), Nagarjuna Fertilisers and Chemicals (up 3.95% to Rs 47.356.80), and Zuari Industries (up 3.44% to Rs 236), soared.
The BSE FMCG index was up 2.32% at 2,399.74. ITC (up 3.90% at Rs 217.25), United Spirits (up 2.16% at Rs 1,584), GlaxoSmithkline Consumer Healthcare (up 2.14% at Rs 715), and Hinduatan Unilever (up 1.36% at Rs 235.50), flared up.
The BSE Bankex was up 0.52% at 7,794.79. Axis Bank (up 4.34% at Rs 772.50), Canara Bank (up 1.25% at Rs 218.90), State Bank of India (up 0.55% at Rs 1,481.40) and HDFC Bank (up 0.11% at Rs 1,332.80), gained.
India’s largest private sector bank by assets ICICI Bank fell 0.31% at Rs 810.
Among the side counters, Jindal Steel & Power (down 3.69% at Rs 2,124.05), Century Textiles and Industries (down 3.61% at Rs 688.10), Alstom Projects (up 3.60% at Rs 546.40), Cairn India (down 3.60% at Rs 287.60), and Jai Corp (down 3.57% at Rs 611.90), slipped.
Auto component maker Minda Industries jumped 4.42% at Rs 308.05 after the firm said it bagged orders worth Rs 50 crore from Volkswagen to supply headlamps and rear combination lamps for its upcoming models.
Mechanical handling equipment maker Elecon Engineering Company gained 1.24% to Rs 126.95 on reports the Gujarat-based company is in talks with a European company for an acquisition in a bid to establish a global footprint.
Software developer Compucom Software rose 4.87% to Rs 32.30 on bagging an order worth Rs 142 crore from the secondary education department, Government of Rajasthan for executing ICT project in 2292 government schools in the state
Pre Market Report 28/05/2008
The market is likely to open higher tracking positive global cues. In absence of any near term major domestic trigger with Q4 March 2008 results almost over, market is likely to dance in line with global cues.
Expiry of May 2008 futures & options series on Thursday, 29 May 2008 will keep the market volatile in the coming days. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 45% and marketwide positions were 34%, as on 27 May 2008.
Meanwhile in a move which may dampen sentiment, market regulator Securities and Exchange Board of India (Sebi) has asked foreign instutional investors (FIIs) to give an undertaking that these investment tools are not issued to non-resident (NRIs) and resident Indians, who otherwise do not need the FII route. These was done to tighten the disclosure norms on offshore derivative instruments (ODIs).
Asian markets were trading mixed today, 28 May 2008. Hang Seng (down 0.11% at 24,256.22), Nikkei 225 Average (down 0.41% at 13,836.53), Seoul Composite (down 0.57% at 1,814.82), Taiwan Weighted (down 0.28% at 8,753.76) edged lower.
However, Shanghai Composite (up 0.43% at 3,389.78), and Straits Times (up 0.35% at 3,126.10) advanced.
US markets advanced yesterday, 28 May 2008, led by technology companies and further drop in crude oil prices. The Dow Jones industrial average advanced 68.72 points, or 0.55%, to 12,548.35. The S&P 500 index gained 9.42 points, or 0.68%, to 1,385.35, and the Nasdaq Composite index surged 36.57 points, or 1.50%, to 2,481.24.
Back home, weakness in the second half of the trading session dragged the market lower yesterday, 27 May 2008. The 30-share BSE Sensex fell 72.91 points or 0.45% at 16,275.59 and the broader based S&P CNX Nifty was down 15.25 points or 0.31% at 4859.80, on that day.
As per provisional data, foreign funds sold shares worth a net Rs 496.61 crore yesterday, 27 May 2008. Domestic funds bought shares worth a net Rs 529.69 crore on that day.
US crude fell 5 cents to $128.80 a barrel today, 28 May 2008, on weakening demand from Asia. Oil has been falling steadily every since it hit a record high $135.09 last week.
Expiry of May 2008 futures & options series on Thursday, 29 May 2008 will keep the market volatile in the coming days. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 45% and marketwide positions were 34%, as on 27 May 2008.
Meanwhile in a move which may dampen sentiment, market regulator Securities and Exchange Board of India (Sebi) has asked foreign instutional investors (FIIs) to give an undertaking that these investment tools are not issued to non-resident (NRIs) and resident Indians, who otherwise do not need the FII route. These was done to tighten the disclosure norms on offshore derivative instruments (ODIs).
Asian markets were trading mixed today, 28 May 2008. Hang Seng (down 0.11% at 24,256.22), Nikkei 225 Average (down 0.41% at 13,836.53), Seoul Composite (down 0.57% at 1,814.82), Taiwan Weighted (down 0.28% at 8,753.76) edged lower.
However, Shanghai Composite (up 0.43% at 3,389.78), and Straits Times (up 0.35% at 3,126.10) advanced.
US markets advanced yesterday, 28 May 2008, led by technology companies and further drop in crude oil prices. The Dow Jones industrial average advanced 68.72 points, or 0.55%, to 12,548.35. The S&P 500 index gained 9.42 points, or 0.68%, to 1,385.35, and the Nasdaq Composite index surged 36.57 points, or 1.50%, to 2,481.24.
Back home, weakness in the second half of the trading session dragged the market lower yesterday, 27 May 2008. The 30-share BSE Sensex fell 72.91 points or 0.45% at 16,275.59 and the broader based S&P CNX Nifty was down 15.25 points or 0.31% at 4859.80, on that day.
As per provisional data, foreign funds sold shares worth a net Rs 496.61 crore yesterday, 27 May 2008. Domestic funds bought shares worth a net Rs 529.69 crore on that day.
US crude fell 5 cents to $128.80 a barrel today, 28 May 2008, on weakening demand from Asia. Oil has been falling steadily every since it hit a record high $135.09 last week.
Asian markets trading mixed
Nikkei 225 13,836.53 -56.78 -0.41%
Hang Seng 24,260.96 -21.08 -0.09%
Straits Times 3,126.38 +11.03 +0.35%
Hang Seng 24,260.96 -21.08 -0.09%
Straits Times 3,126.38 +11.03 +0.35%
US Stocks higher after home sales data, lower oil
Wall Street advanced in uneven trading Tuesday after a drop in oil prices and an unexpected gain in new home sales encouraged investors to put money back into the market.
Dow 12,548.35 +68.72 +0.55%
Nasdaq 2,481.24 +36.57 +1.50%
S&P 500 1,385.35 +9.42 +0.68%
Dow 12,548.35 +68.72 +0.55%
Nasdaq 2,481.24 +36.57 +1.50%
S&P 500 1,385.35 +9.42 +0.68%
Tuesday, May 27, 2008
IPO Allotment Status for Gokul Refoils and Solvent Ltd IPO.
IPO Allotment Status is now available online for Gokul Refoils and Solvent Ltd IPO.
Gokul Refoils and Solvent Ltd IPO was open on May 08, 2008 and closed on May 13, 2008. IPO was oversubscribed by 4.27 times (5.5931 times in retail).
Click here for Status
Gokul Refoils and Solvent Ltd IPO was open on May 08, 2008 and closed on May 13, 2008. IPO was oversubscribed by 4.27 times (5.5931 times in retail).
Click here for Status
Post Market Report 27.05.2008
Weakness in the second half of the trading session dragged the
market lower today. The market sentiment was hit by reports which
trickled in the market in afternoon trade that one of the options
that the government may consider to bail out oil firms which are
bleeding due to a surge in crude oil prices, was levying of a cess
or surcharge on income tax and corporate tax.
Banking stocks were the worst sufferers in today's fall. State Bank
of India slumped. Information technology stocks held firm.
Asian markets edged higher today, 27 May 2008, as bargain hunters
scoured the market after five days of losses. Key indices in China,
Japan, Hong Kong, Taiwan, South Korea and Singapore were up by
0.39% to 1.48%.
But European markets, which opened after Indian market, were mostly
in the red. Key indices in France and Germany were down 0.42% to
0.53%. UK's FTSE 100 was up 0.11%. US markets were closed on
Monday, 26 May 2008, for Memorial Day holiday.
The 30-share BSE Sensex fell 72.91 points or 0.45% at 16,275.59.
The Sensex lost 110.58 at the day's low of 16,237.92, hit in the
mid-afternoon trade. The market opened on an upbeat note tracking
firm Asian stocks. Sensex climbed 157.85 points at day's high of
16,506.35, hit in early trade
The broader based S&P CNX Nifty was down 15.25 points or 0.31% at
4859.80. Nifty May 2008 futures were at 4851.90, a discount of 7.9
points against the spot closing.
The NSE's futures & options (F&O) segment turnover was at Rs
49,968.5 crore, higher than Rs 44103.52 crore on Monday, 26 May
2008. BSE clocked a turnover of Rs 5074 crore in the cash segment
as against Rs 4,426.96 on Monday, 26 May 2008.
As per provisional data, foreign funds sold shares worth a net Rs
496.61 crore today. Domestic funds bought shares worth a net Rs
529.69 crore.
The market breadth, which was firmly positive earlier in the day,
turned negative as the session proceeded, with 922 shares advancing
on BSE as compared to 1760 stocks that declined. 81 stocks remained
unchanged.
The BSE Mid-Cap index fell 1.21% to 6,678.91 and BSE Small-Cap
index lost 1.30% to 8,210.08. Both the indices underperformed the
Sensex.
Major Sensex losers were, Housing Development Finance Corporation
(down 2.08% at Rs 2519.75), ONGC (down 1.34% at Rs 884.35), HDFC
Bank (down 1.20% at Rs 1331.30) and DLF (down 0.80% at Rs 596.45).
Major Sensex gainers were, Cipla (up 3.04% at Rs 205.05), ITC (up
1.65% at Rs 209.10), Ambuja Cements (up 0.98% at Rs 97.60), NTPC
(up 0.97% at Rs 177.40) and Reliance Infrastructure (up 0.86% at Rs
1259.30).
India's second largest listed telecom services provider by sales
Reliance Communication (RCom) rose 1.57% at Rs 551.75 on reports
the proposed deal between Reliance Communications and South
Africa's MTN Group may involve an open offer by the South African
telecom firm to the shareholders of Reliance Communications. The
deal may result in a transfer of Anil Ambani's two-third equity
stake in Reliance Communications to MTN shareholders, the reports
added.
The RCom stock had tumbled 5.08% to Rs 543.20 on Monday, 26 May
2008, after the company said it was in merger talks with MTN.
India's largest private sector firm by market capitalization & oil
refiner Reliance Industries fell 1.25% at Rs 2493.20.
The BSE Bankex underperformed the Sensex, falling 2.33% at
7,754.64. Oriental Bank of Commerce (down 5.69% at Rs 183.20), Bank
of India (down 4.90% at Rs 304.50), Bank of Baroda (down 4.80% at
Rs 261.75) and Axis Bank (down 2.96% at Rs 740.40), dropped.
India's largest commercial bank State Bank of India slumped 4.19%
at Rs 1473.30, on concerns the bank's surprise hike of 25-50 basis
points in deposit rates could put pressure on its operating profit
margin in the short term. In an announcement made after market
hours yesterday, 26 May 2008, State Bank of India said that two to
three year term deposit rate will be raised to 8.75% from 8.5%, and
five to ten year deposits would fetch 9% from 8.5%, effective from
1 June 2008. The hike in deposit rates is aimed at attracting more
funds to meet aggressive growth targets
India's largest private sector bank by assets ICICI Bank declined
1.71% at Rs 812.55.
The BSE IT index outperformed the Sensex, gaining 0.73% at
4,450.40. Satyam Computer (up 3.29% at Rs 499), Wipro (up 2.71% at
Rs 491.60), HCL Technologies (up 1.08% at Rs 299.05), TCS (up 0.81%
at Rs 966.60), rose. However, India's second largest software
exporter by sales Infosys Technologies fell 0.42% at 1878.55.
Among the mid-caps, Jyoti Structures (down 6.90% at Rs 132.15), BGR
Energy (down 6.89% at Rs 379.80), Brigade Enterprise (down 6.88% at
Rs 191.45), and Elecon Engineering Company (down 6.70% at Rs
125.40), slipped.
Among the small-caps, Confidence Petroleum (down 10% at Rs 17.65),
Kirloskar Pneumatic Company (down 7.34% at Rs 394), Elantas Beck
(down 6.97% at Rs 263.05), Emkay Share And Stock Brokers (down
6.89% at Rs 125) and Eicher Motors (down 6.79% at Rs 358.20),
tumbled.
Bajaj Finserve clocked the highest turnover of Rs 208.92 crore on
BSE. Reliance Capital (Rs 195.04 crore), Reliance Industries (Rs
159.70 crore), Aishwarya Telecom (Rs 150.44 crore) and Reliance
Power (Rs 143.90 crore), were the other turnover toppers on BSE in
that order.
Chambal Fertilisers and Chemicals registered the highest volume of
1.67 crore shares on BSE. IFCI (1.45 crore shares), Aishwarya
Telecom (1.41 crore shares), Ispat Industries (1.36 crore shares)
and Reliance Natural Resources (1.16 crore shares), were the other
volume toppers on BSE in that order.
Cooking appliances maker Hawkins Cookers jumped 8.85% to Rs 183.95
after the company's board of directors recommended a liberal
dividend of Rs 10 per share in a board meeting held on Monday, 26
May 2008.
Sandur Manganese and Iron Ores was locked at upper limit of 5% at
Rs 1185.65 on sustained buying after the company's management
guided a whopping 10-fold jump in net profit for the year ending
March 2009, on 13 May 2008.
Automobile batteries maker Amara Raja Batteries jumped 0.90% at Rs
191 on reports the founders of the company have decided to form a
holding corporation that will take under its wing five group
companies and the newly formed Amara Raja Infra.
IT firm HTMT Global Solutions soared 0.11% to Rs 360 on reports the
firm is planning to acquire a mortgage-specific company in the UK.
The business process outsourcing (BPO) and IT services provider may
invest more than $150 million for the buyout. HTMT has internal
accruals of $110 million which will be used for the acquisition,
the reports added.
Engineering firm Kirloskar Electric Company spurted 2.37% at Rs
188.05 on reports the firm has mounted a bid to acquire Germany's
Lloyd Dynamowerke based on an estimated enterprise valuation of
about $100 million.
Food products supplier Sita Shree Food Products advanced 2.25% to
Rs 43.25 after the company said it had received orders from
Reliance Fresh for 400 metric tonnes of wheat flour and pulses,
higher from its previous order for 160 metric tonnes.
Industrial equipment maker Thermax jumped 1.92% to Rs 438.30 after
the company said its boiler & heater business unit has received an
export order worth 14.2 million euro for supply of heat recovery
steam generator to an oil company in Europe.
Bhuwalka Steel Industries, which manufactures steel billets, gained
2.22% to Rs 83 after the company said it expects revenue of Rs 125
crore and rental income of Rs 12 crore a year, from redevelopment
of a mill property in Bangalore.
market lower today. The market sentiment was hit by reports which
trickled in the market in afternoon trade that one of the options
that the government may consider to bail out oil firms which are
bleeding due to a surge in crude oil prices, was levying of a cess
or surcharge on income tax and corporate tax.
Banking stocks were the worst sufferers in today's fall. State Bank
of India slumped. Information technology stocks held firm.
Asian markets edged higher today, 27 May 2008, as bargain hunters
scoured the market after five days of losses. Key indices in China,
Japan, Hong Kong, Taiwan, South Korea and Singapore were up by
0.39% to 1.48%.
But European markets, which opened after Indian market, were mostly
in the red. Key indices in France and Germany were down 0.42% to
0.53%. UK's FTSE 100 was up 0.11%. US markets were closed on
Monday, 26 May 2008, for Memorial Day holiday.
The 30-share BSE Sensex fell 72.91 points or 0.45% at 16,275.59.
The Sensex lost 110.58 at the day's low of 16,237.92, hit in the
mid-afternoon trade. The market opened on an upbeat note tracking
firm Asian stocks. Sensex climbed 157.85 points at day's high of
16,506.35, hit in early trade
The broader based S&P CNX Nifty was down 15.25 points or 0.31% at
4859.80. Nifty May 2008 futures were at 4851.90, a discount of 7.9
points against the spot closing.
The NSE's futures & options (F&O) segment turnover was at Rs
49,968.5 crore, higher than Rs 44103.52 crore on Monday, 26 May
2008. BSE clocked a turnover of Rs 5074 crore in the cash segment
as against Rs 4,426.96 on Monday, 26 May 2008.
As per provisional data, foreign funds sold shares worth a net Rs
496.61 crore today. Domestic funds bought shares worth a net Rs
529.69 crore.
The market breadth, which was firmly positive earlier in the day,
turned negative as the session proceeded, with 922 shares advancing
on BSE as compared to 1760 stocks that declined. 81 stocks remained
unchanged.
The BSE Mid-Cap index fell 1.21% to 6,678.91 and BSE Small-Cap
index lost 1.30% to 8,210.08. Both the indices underperformed the
Sensex.
Major Sensex losers were, Housing Development Finance Corporation
(down 2.08% at Rs 2519.75), ONGC (down 1.34% at Rs 884.35), HDFC
Bank (down 1.20% at Rs 1331.30) and DLF (down 0.80% at Rs 596.45).
Major Sensex gainers were, Cipla (up 3.04% at Rs 205.05), ITC (up
1.65% at Rs 209.10), Ambuja Cements (up 0.98% at Rs 97.60), NTPC
(up 0.97% at Rs 177.40) and Reliance Infrastructure (up 0.86% at Rs
1259.30).
India's second largest listed telecom services provider by sales
Reliance Communication (RCom) rose 1.57% at Rs 551.75 on reports
the proposed deal between Reliance Communications and South
Africa's MTN Group may involve an open offer by the South African
telecom firm to the shareholders of Reliance Communications. The
deal may result in a transfer of Anil Ambani's two-third equity
stake in Reliance Communications to MTN shareholders, the reports
added.
The RCom stock had tumbled 5.08% to Rs 543.20 on Monday, 26 May
2008, after the company said it was in merger talks with MTN.
India's largest private sector firm by market capitalization & oil
refiner Reliance Industries fell 1.25% at Rs 2493.20.
The BSE Bankex underperformed the Sensex, falling 2.33% at
7,754.64. Oriental Bank of Commerce (down 5.69% at Rs 183.20), Bank
of India (down 4.90% at Rs 304.50), Bank of Baroda (down 4.80% at
Rs 261.75) and Axis Bank (down 2.96% at Rs 740.40), dropped.
India's largest commercial bank State Bank of India slumped 4.19%
at Rs 1473.30, on concerns the bank's surprise hike of 25-50 basis
points in deposit rates could put pressure on its operating profit
margin in the short term. In an announcement made after market
hours yesterday, 26 May 2008, State Bank of India said that two to
three year term deposit rate will be raised to 8.75% from 8.5%, and
five to ten year deposits would fetch 9% from 8.5%, effective from
1 June 2008. The hike in deposit rates is aimed at attracting more
funds to meet aggressive growth targets
India's largest private sector bank by assets ICICI Bank declined
1.71% at Rs 812.55.
The BSE IT index outperformed the Sensex, gaining 0.73% at
4,450.40. Satyam Computer (up 3.29% at Rs 499), Wipro (up 2.71% at
Rs 491.60), HCL Technologies (up 1.08% at Rs 299.05), TCS (up 0.81%
at Rs 966.60), rose. However, India's second largest software
exporter by sales Infosys Technologies fell 0.42% at 1878.55.
Among the mid-caps, Jyoti Structures (down 6.90% at Rs 132.15), BGR
Energy (down 6.89% at Rs 379.80), Brigade Enterprise (down 6.88% at
Rs 191.45), and Elecon Engineering Company (down 6.70% at Rs
125.40), slipped.
Among the small-caps, Confidence Petroleum (down 10% at Rs 17.65),
Kirloskar Pneumatic Company (down 7.34% at Rs 394), Elantas Beck
(down 6.97% at Rs 263.05), Emkay Share And Stock Brokers (down
6.89% at Rs 125) and Eicher Motors (down 6.79% at Rs 358.20),
tumbled.
Bajaj Finserve clocked the highest turnover of Rs 208.92 crore on
BSE. Reliance Capital (Rs 195.04 crore), Reliance Industries (Rs
159.70 crore), Aishwarya Telecom (Rs 150.44 crore) and Reliance
Power (Rs 143.90 crore), were the other turnover toppers on BSE in
that order.
Chambal Fertilisers and Chemicals registered the highest volume of
1.67 crore shares on BSE. IFCI (1.45 crore shares), Aishwarya
Telecom (1.41 crore shares), Ispat Industries (1.36 crore shares)
and Reliance Natural Resources (1.16 crore shares), were the other
volume toppers on BSE in that order.
Cooking appliances maker Hawkins Cookers jumped 8.85% to Rs 183.95
after the company's board of directors recommended a liberal
dividend of Rs 10 per share in a board meeting held on Monday, 26
May 2008.
Sandur Manganese and Iron Ores was locked at upper limit of 5% at
Rs 1185.65 on sustained buying after the company's management
guided a whopping 10-fold jump in net profit for the year ending
March 2009, on 13 May 2008.
Automobile batteries maker Amara Raja Batteries jumped 0.90% at Rs
191 on reports the founders of the company have decided to form a
holding corporation that will take under its wing five group
companies and the newly formed Amara Raja Infra.
IT firm HTMT Global Solutions soared 0.11% to Rs 360 on reports the
firm is planning to acquire a mortgage-specific company in the UK.
The business process outsourcing (BPO) and IT services provider may
invest more than $150 million for the buyout. HTMT has internal
accruals of $110 million which will be used for the acquisition,
the reports added.
Engineering firm Kirloskar Electric Company spurted 2.37% at Rs
188.05 on reports the firm has mounted a bid to acquire Germany's
Lloyd Dynamowerke based on an estimated enterprise valuation of
about $100 million.
Food products supplier Sita Shree Food Products advanced 2.25% to
Rs 43.25 after the company said it had received orders from
Reliance Fresh for 400 metric tonnes of wheat flour and pulses,
higher from its previous order for 160 metric tonnes.
Industrial equipment maker Thermax jumped 1.92% to Rs 438.30 after
the company said its boiler & heater business unit has received an
export order worth 14.2 million euro for supply of heat recovery
steam generator to an oil company in Europe.
Bhuwalka Steel Industries, which manufactures steel billets, gained
2.22% to Rs 83 after the company said it expects revenue of Rs 125
crore and rental income of Rs 12 crore a year, from redevelopment
of a mill property in Bangalore.
Firm opening on positive cues from Asian markets
The key benchmark indices opened higher tracking a recovery in Asian markets. All the sectoral indices on BSE, except information technology index, were in green.
Asian markets were trading firm today, 27 May 2008, as bargain hunters scoured the market after five days of losses. Key indices in Japan, Hong Kong, Taiwan, South Korea and Singapore were up by 0.36% to 1.14%. China's Shanghai Composite was flat. US markets were closed on Monday, 26 May 2008, for Memorial Day holiday.
At 10:20 IST, the 30-share BSE Sensex was up 106.93 points or 0.65% at 16,455.43. The index climbed 157.85 points at day’s high of 16,506.35, hit in early trade.
The broader based S&P CNX Nifty was up 44.8 points or 0.92% at 4919.85.
The market breadth was strong on BSE with 1253 shares advancing as compared to 495 stocks that declined. 39 stocks remained unchanged.
The BSE Mid-Cap index rose 0.88% to 6,820.57 and BSE Small-Cap index rose 1.13% to 8,411.81.
India’s second largest listed telecom services provider by sales Reliance Communication rose 2.08% at Rs 554.50 on reports the proposed deal between Reliance Communications and South Africa's MTN Group may involve an open offer by the South African telecom firm to the shareholders of Reliance Communications. The deal may result in a transfer of Anil Ambani's two-third equity stake in Reliance Communications to MTN shareholders, the reports added.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.80% at Rs 2546.
India’s largest private sector bank by assets ICICI Bank was unchanged at Rs 826.90.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 1.65% to Rs 2795.05. The company unveils Q4 March 2008 results today, 27 May 2008.
The top Sensex gainers were, Bharat Heavy Electricals (up 3.86% at Rs 1720.05), Jaiprakash Associates (up 2.41% at Rs 229.80), ITC (up 1.5% at Rs 209.50), Reliance Infrastructure (up 1.87% at Rs 1272), and Hindalco Industries (up 1.07% at Rs 188.45).
Top Sensex losers were, Hindustan Unilever (down 1.54% at Rs 227.70), HDFC Bank (down 1.07% at Rs 1333), Infosys Technologies (down 0.45% at Rs 1878), and Grasim Industries (down 0.84% at Rs 2190).
Reliance Natural Resources was top traded counter on BSE in terms of turnover. The stock was up 2.97% at Rs 107.40 on a turnover of Rs 28.42 crore.
Asian markets were trading firm today, 27 May 2008, as bargain hunters scoured the market after five days of losses. Key indices in Japan, Hong Kong, Taiwan, South Korea and Singapore were up by 0.36% to 1.14%. China's Shanghai Composite was flat. US markets were closed on Monday, 26 May 2008, for Memorial Day holiday.
At 10:20 IST, the 30-share BSE Sensex was up 106.93 points or 0.65% at 16,455.43. The index climbed 157.85 points at day’s high of 16,506.35, hit in early trade.
The broader based S&P CNX Nifty was up 44.8 points or 0.92% at 4919.85.
The market breadth was strong on BSE with 1253 shares advancing as compared to 495 stocks that declined. 39 stocks remained unchanged.
The BSE Mid-Cap index rose 0.88% to 6,820.57 and BSE Small-Cap index rose 1.13% to 8,411.81.
India’s second largest listed telecom services provider by sales Reliance Communication rose 2.08% at Rs 554.50 on reports the proposed deal between Reliance Communications and South Africa's MTN Group may involve an open offer by the South African telecom firm to the shareholders of Reliance Communications. The deal may result in a transfer of Anil Ambani's two-third equity stake in Reliance Communications to MTN shareholders, the reports added.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries rose 0.80% at Rs 2546.
India’s largest private sector bank by assets ICICI Bank was unchanged at Rs 826.90.
India’s largest engineering and construction firm by revenue Larsen & Toubro rose 1.65% to Rs 2795.05. The company unveils Q4 March 2008 results today, 27 May 2008.
The top Sensex gainers were, Bharat Heavy Electricals (up 3.86% at Rs 1720.05), Jaiprakash Associates (up 2.41% at Rs 229.80), ITC (up 1.5% at Rs 209.50), Reliance Infrastructure (up 1.87% at Rs 1272), and Hindalco Industries (up 1.07% at Rs 188.45).
Top Sensex losers were, Hindustan Unilever (down 1.54% at Rs 227.70), HDFC Bank (down 1.07% at Rs 1333), Infosys Technologies (down 0.45% at Rs 1878), and Grasim Industries (down 0.84% at Rs 2190).
Reliance Natural Resources was top traded counter on BSE in terms of turnover. The stock was up 2.97% at Rs 107.40 on a turnover of Rs 28.42 crore.
Pre Market Report 27/05/2008
The market is likely to open higher tracking positive Asian markets. In absence of any near term major domestic trigger with Q4 March 2008 results almost over, market is likely to dance in line with global cues.
Expiry of May 2008 futures & options series on Thursday, 29 May 2008 will keep the market volatile in the coming days. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 39% and marketwide positions were 30%, as on 26 May 2008.
Asian markets were trading firm today, 27 May 2008. Japan's Nikkei (up 0.82% at 13,802.62), Hong Kong's Hang Seng (up 0.56% at 24,263.52), Taiwan's Taiwan Weighted (up 0.56% at 8,756.69), South Korea's Seoul Composite (up 0.94% at 1,817.56) and Singapore's Straits Times (up 0.05% 3,105.24), edged higher. However China's Shanghai Composite fell 3.13% at 3,364.54.
US markets were closed on Monday, 26 May 2008 for Memorial Day.
Back home, relentless selling in banking, and capital goods stocks led the fall on Monday, 26 May 2008. The 30-share BSE Sensex was down 301.14 points or 1.81% at 16,348.50 and the broader based S&P CNX Nifty was down 71.5 points or 1.45% at 4875.05, on that day.
As per provisional data, foreign funds sold shares worth a net Rs 1337.33 crore on Monday, 26 May 2008. Domestic funds bought shares worth a net Rs 842.05 crore on that day.
Expiry of May 2008 futures & options series on Thursday, 29 May 2008 will keep the market volatile in the coming days. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 39% and marketwide positions were 30%, as on 26 May 2008.
Asian markets were trading firm today, 27 May 2008. Japan's Nikkei (up 0.82% at 13,802.62), Hong Kong's Hang Seng (up 0.56% at 24,263.52), Taiwan's Taiwan Weighted (up 0.56% at 8,756.69), South Korea's Seoul Composite (up 0.94% at 1,817.56) and Singapore's Straits Times (up 0.05% 3,105.24), edged higher. However China's Shanghai Composite fell 3.13% at 3,364.54.
US markets were closed on Monday, 26 May 2008 for Memorial Day.
Back home, relentless selling in banking, and capital goods stocks led the fall on Monday, 26 May 2008. The 30-share BSE Sensex was down 301.14 points or 1.81% at 16,348.50 and the broader based S&P CNX Nifty was down 71.5 points or 1.45% at 4875.05, on that day.
As per provisional data, foreign funds sold shares worth a net Rs 1337.33 crore on Monday, 26 May 2008. Domestic funds bought shares worth a net Rs 842.05 crore on that day.
Anu's Laboratories Limited IPO Allotment Status
IPO Allotment Status is now available online for Anu's Laboratories Limited IPO.
Anu's Laboratories Limited IPO was open on May 12, 2008 and closed on May 15, 2008. IPO was oversubscribed by 8.43 times (9.6417 times in retail).
Allotment Status
Anu's Laboratories Limited IPO was open on May 12, 2008 and closed on May 15, 2008. IPO was oversubscribed by 8.43 times (9.6417 times in retail).
Allotment Status
Asian markets in green
US markets where closed yesterday. Today Asian markets open in green.
At 8 AM
Nikkei 225 13,802.62 +112.43 +0.82%
Hang Seng 24,295.11 +167.80 +0.70%
Straits Times 3,110.38 +7.08 +0.23%
At 8 AM
Nikkei 225 13,802.62 +112.43 +0.82%
Hang Seng 24,295.11 +167.80 +0.70%
Straits Times 3,110.38 +7.08 +0.23%
Post Market Report 26.05.2008
The market today extended last week's steep losses on weak cues
from Asian markets. Banking, and capital goods stocks suffered the
most in today's slide. Information technology stocks were star
performers of the session.
As per provisional data, foreign funds sold shares worth a net Rs
1337.33 crore today. Domestic funds bought shares worth a net Rs
842.05 crore.
Asian stocks fell on Monday, 26 May 2008, as investors feared
rising inflation and sluggish US economic growth would seriously
dent consumer demand in the region's biggest export market. Key
indices in China, Japan, Hong Kong, Taiwan, Singapore and South
Korea were down by 0.60% to 3.13%.
But European markets, which opened after the Indian markets, were
positive. Key indices in France and Germany were up by 0.08% to
0.25%. UK market is closed today on account of Spring Bank holiday.
On Friday, 23 May 2008, the US markets declined on concerns about a
worsening housing recession and rising crude oil prices. The Dow
Jones industrial average plunged 145.99 points, or 1.16%, to
12,479.63. The S&P 500 index declined 18.42 points, or 1.32%, to
1,375.93, and the Nasdaq Composite index fell 19.91 points, or
0.81%, to 2,444.67.
The 30-share BSE Sensex was down 301.14 points or 1.81% at
16,348.50. The index lost 348.76 points at day's low of 16,300.88,
hit at the fag end of the session.
The broader based S&P CNX Nifty was down 71.5 points or 1.45% at
4875.05. Nifty futures were at 4878.35, a premium of 3.3 points
against the spot closing.
The NSE's futures & options (F&O) segment turnover was at Rs
44103.52 crore, higher than Rs 41317.97 crore on Friday, 23 May
2008. BSE clocked a turnover of Rs 4134 crore in the cash segment
as against Rs 5,389.63 on Friday, 23 May 2008.
The market breadth was poor on BSE with 667 shares advancing as
compared to 2043 stocks that declined. 48 stocks remained
unchanged.
The BSE Mid-Cap index fell 2.54% to 6,760.77 and BSE Small-Cap
index fell 2.34% to 8,318.20. Both the indices underperformed the
Sensex.
India's biggest listed cellular services provider by market share
Bharti Airtel advanced 3.15% at Rs 863.15 after the company decided
to disengage from the ongoing talks with the South African telecom
major, MTN, to explore the possibility of a merger between the two
emerging markets telecom giants
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries fell 1.17% at Rs 2524.85. The stock
recovered from the day's low of Rs 2490.
India's second largest listed telecom services provider by sales
Reliance Communication shed 5.08% to Rs 543.20 after the company
entered into negotiations with South Africa's MTN Group for a
possible merger after MTN's merger deal with Bharti Airtel
collapsed.
Other major Sensex losers were, Jaiprakash Associates (down 5.58%
at Rs 224.40), Ambuja Cements (down 5.38% and Maruti Suzuki (down
3.83% at Rs 759.85).
The BSE Bankex underperformed the Sensex, falling 3.56% to
7,939.25. Federal Bank (down 6.09% at Rs 221.95), Kotak Mahindra
Bank (down 6% at Rs 658.05), Indian Overseas Bank (down 4.75% at Rs
130.20), Axis Bank (down 4.61% at Rs 762.95), HDFC Bank (down 2.60%
at Rs 1,347.45) and State Bank of India (down 2.26% at Rs
1,537.70), slipped.
India's largest private sector bank by assets ICICI Bank fell 4.29%
at Rs 826.70.
The BSE Capital Goods index underperformed the Sensex, falling
2.72% at 12,833.68. Bharat Heavy Electricals (down 5.21% at Rs
1,656.10), Punj Lloyd (down 3.81% at Rs 320.90) and Larsen & Toubro
(down 3.34% at Rs 2,749.65), tumbled.
Information technology (IT) stocks rose after the Indian rupee had
fellen 0.14% to 42.755 against the dollar in morning deals.
However, the domestic curency recovered to trade at 42.55 per
dollar in afternoon trade. The BSE IT index outperformed the
Sensex, gaining 1.77% at 4,418. Infosys Technologies (up 3.29% at
Rs 1,886.40), TCS (up 2.69% at Rs 958.80), HCL Technologies (up
1.28% at Rs 295.85) and Satyam Computer (up 0.25% at Rs 483.10),
rose.
However, India's third largest software exporter by sales Wipro
fell 0.43% at Rs 478.65.
Cairn India clocked the highest turover of Rs 180.52 crore on BSE.
Reliance Industries (Rs 148.18 crore), Reliance Capital (Rs 145.46
crore), Bajaj Auto (Rs 144.40 crore) and Reliance Power (Rs 142.14
crore), were the other turnover toppers on BSE in that order.
Ispat Industries registered a highest volume of 1.69 crore shares
on BSE. IFCI (1.11 crore shares), Aishwarya Telecom (86.54 lakh
shares), Spice Communication (80.18 lakh shares) and Reliance
Natural Resources (65.51 lakh shares), were the other volume
toppers on BSE in that order.
Commercial vehicles maker Eicher Motors rose 20% to Rs 384.30 on
reports truck maker Volvo had inked a final agreement to set up a
new truck and bus joint venture with the company. Some other
reports suggested that Eicher Goodearth, part of the promoter
group, was considering buying back 13.12% of the company's shares
at Rs 691.68 each.
Private sector lender Bank of Rajasthan surged 13.77% to Rs 116.05
after it scheduled a board meet on 31 May 2008 to consider issue of
bonus shares.
Engineering firm Crompton Greaves gained 2.31% to Rs 237.35 after
posting 47.4% surge in net profit to Rs 103.07 crore on 17.1%
increase in net sales to Rs 1159.53 crore in Q4 March 2008 over Q4
March 2007.
Auto parts maker Federal-Mogul Goetze (India) rose 1.76% at Rs
75.35 after it said its board will meet on 3 June 2008 to consider
a rights issue.
Relentless selling in realty, oil & gas and metal stocks spooked
sell-off in late trade on Friday, 23 May 2008. The 30-share BSE
Sensex settled 257.47 points or 1.52% lower at 16,649.64 and the
broader based S&P CNX Nifty was down 78.9 points or 1.57% at
4,946.55, on that day.
The key benchmark indices suffered losses in the week ended Friday,
3 May 2008 with the BSE Sensex plunging 785.30 points or 4.50% to
16,649.64 and the S&P CNX Nifty sliding 211.15 points or 4.09% to
4,946.55 .
from Asian markets. Banking, and capital goods stocks suffered the
most in today's slide. Information technology stocks were star
performers of the session.
As per provisional data, foreign funds sold shares worth a net Rs
1337.33 crore today. Domestic funds bought shares worth a net Rs
842.05 crore.
Asian stocks fell on Monday, 26 May 2008, as investors feared
rising inflation and sluggish US economic growth would seriously
dent consumer demand in the region's biggest export market. Key
indices in China, Japan, Hong Kong, Taiwan, Singapore and South
Korea were down by 0.60% to 3.13%.
But European markets, which opened after the Indian markets, were
positive. Key indices in France and Germany were up by 0.08% to
0.25%. UK market is closed today on account of Spring Bank holiday.
On Friday, 23 May 2008, the US markets declined on concerns about a
worsening housing recession and rising crude oil prices. The Dow
Jones industrial average plunged 145.99 points, or 1.16%, to
12,479.63. The S&P 500 index declined 18.42 points, or 1.32%, to
1,375.93, and the Nasdaq Composite index fell 19.91 points, or
0.81%, to 2,444.67.
The 30-share BSE Sensex was down 301.14 points or 1.81% at
16,348.50. The index lost 348.76 points at day's low of 16,300.88,
hit at the fag end of the session.
The broader based S&P CNX Nifty was down 71.5 points or 1.45% at
4875.05. Nifty futures were at 4878.35, a premium of 3.3 points
against the spot closing.
The NSE's futures & options (F&O) segment turnover was at Rs
44103.52 crore, higher than Rs 41317.97 crore on Friday, 23 May
2008. BSE clocked a turnover of Rs 4134 crore in the cash segment
as against Rs 5,389.63 on Friday, 23 May 2008.
The market breadth was poor on BSE with 667 shares advancing as
compared to 2043 stocks that declined. 48 stocks remained
unchanged.
The BSE Mid-Cap index fell 2.54% to 6,760.77 and BSE Small-Cap
index fell 2.34% to 8,318.20. Both the indices underperformed the
Sensex.
India's biggest listed cellular services provider by market share
Bharti Airtel advanced 3.15% at Rs 863.15 after the company decided
to disengage from the ongoing talks with the South African telecom
major, MTN, to explore the possibility of a merger between the two
emerging markets telecom giants
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries fell 1.17% at Rs 2524.85. The stock
recovered from the day's low of Rs 2490.
India's second largest listed telecom services provider by sales
Reliance Communication shed 5.08% to Rs 543.20 after the company
entered into negotiations with South Africa's MTN Group for a
possible merger after MTN's merger deal with Bharti Airtel
collapsed.
Other major Sensex losers were, Jaiprakash Associates (down 5.58%
at Rs 224.40), Ambuja Cements (down 5.38% and Maruti Suzuki (down
3.83% at Rs 759.85).
The BSE Bankex underperformed the Sensex, falling 3.56% to
7,939.25. Federal Bank (down 6.09% at Rs 221.95), Kotak Mahindra
Bank (down 6% at Rs 658.05), Indian Overseas Bank (down 4.75% at Rs
130.20), Axis Bank (down 4.61% at Rs 762.95), HDFC Bank (down 2.60%
at Rs 1,347.45) and State Bank of India (down 2.26% at Rs
1,537.70), slipped.
India's largest private sector bank by assets ICICI Bank fell 4.29%
at Rs 826.70.
The BSE Capital Goods index underperformed the Sensex, falling
2.72% at 12,833.68. Bharat Heavy Electricals (down 5.21% at Rs
1,656.10), Punj Lloyd (down 3.81% at Rs 320.90) and Larsen & Toubro
(down 3.34% at Rs 2,749.65), tumbled.
Information technology (IT) stocks rose after the Indian rupee had
fellen 0.14% to 42.755 against the dollar in morning deals.
However, the domestic curency recovered to trade at 42.55 per
dollar in afternoon trade. The BSE IT index outperformed the
Sensex, gaining 1.77% at 4,418. Infosys Technologies (up 3.29% at
Rs 1,886.40), TCS (up 2.69% at Rs 958.80), HCL Technologies (up
1.28% at Rs 295.85) and Satyam Computer (up 0.25% at Rs 483.10),
rose.
However, India's third largest software exporter by sales Wipro
fell 0.43% at Rs 478.65.
Cairn India clocked the highest turover of Rs 180.52 crore on BSE.
Reliance Industries (Rs 148.18 crore), Reliance Capital (Rs 145.46
crore), Bajaj Auto (Rs 144.40 crore) and Reliance Power (Rs 142.14
crore), were the other turnover toppers on BSE in that order.
Ispat Industries registered a highest volume of 1.69 crore shares
on BSE. IFCI (1.11 crore shares), Aishwarya Telecom (86.54 lakh
shares), Spice Communication (80.18 lakh shares) and Reliance
Natural Resources (65.51 lakh shares), were the other volume
toppers on BSE in that order.
Commercial vehicles maker Eicher Motors rose 20% to Rs 384.30 on
reports truck maker Volvo had inked a final agreement to set up a
new truck and bus joint venture with the company. Some other
reports suggested that Eicher Goodearth, part of the promoter
group, was considering buying back 13.12% of the company's shares
at Rs 691.68 each.
Private sector lender Bank of Rajasthan surged 13.77% to Rs 116.05
after it scheduled a board meet on 31 May 2008 to consider issue of
bonus shares.
Engineering firm Crompton Greaves gained 2.31% to Rs 237.35 after
posting 47.4% surge in net profit to Rs 103.07 crore on 17.1%
increase in net sales to Rs 1159.53 crore in Q4 March 2008 over Q4
March 2007.
Auto parts maker Federal-Mogul Goetze (India) rose 1.76% at Rs
75.35 after it said its board will meet on 3 June 2008 to consider
a rights issue.
Relentless selling in realty, oil & gas and metal stocks spooked
sell-off in late trade on Friday, 23 May 2008. The 30-share BSE
Sensex settled 257.47 points or 1.52% lower at 16,649.64 and the
broader based S&P CNX Nifty was down 78.9 points or 1.57% at
4,946.55, on that day.
The key benchmark indices suffered losses in the week ended Friday,
3 May 2008 with the BSE Sensex plunging 785.30 points or 4.50% to
16,649.64 and the S&P CNX Nifty sliding 211.15 points or 4.09% to
4,946.55 .
Monday, May 26, 2008
Pre Market Report 26/05/2008
The market is geared for weak opening tracking negative global cues. In absence of any near term major domestic trigger with Q4 March 2008 results almost over, market is likely to dance in line with global cues.
Aggregate results of 1886 companies showed 18.70% rise in net profit on 22.60% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 28.10% rise in net profit on 22% rise in net sales in the year ended March 2008 over year ended March 2007.
Expiry of May 2008 futures & options series on Thursday, 29 May 2008 will keep the market volatile in the coming days. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 32% and marketwide positions were 18%, as on 23 May 2008.
Asian markets were trading weak today, 26 May 2008. China's Shanghai Composite (down 1.69% at 3,414.32), Japan's Nikkei (down 2.23% at 13,699.85), Hang Seng (down 2.31% at 24,144.18), Taiwan Weighted (down 1.32% at 8,717.79), Singapore's Straits Times (down 1.06% at 3,088.98), and South Korea's Seoul Composite (down 1.73% at 1,796.23) edged lower
On Friday, 23 May 2008 US markets declined on concerns about a worsening housing recession and rising crude oil prices put renewed pressure on a market marred by worries that inflation will crimp consumption and further weaken the economy. The Dow Jones industrial average plunged 145.99 points, or 1.16%, to 12,479.63. The S&P 500 index declined 18.42 points, or 1.32%, to 1,375.93, and the Nasdaq Composite index fell 19.91 points, or 0.81%, to 2,444.67.
Back home, relentless selling in realty, oil & gas and metal stocks spooked sell-off in late trade on Friday, 23 May 2008. The 30-share BSE Sensex settled 257.47 points or 1.52% lower at 16,649.64 and the broader based S&P CNX Nifty was down 78.9 points or 1.57% at 4,946.55, on that day.
The key benchmark indices suffered losses in the week ended Friday, 3 May 2008 with the BSE Sensex plunging 785.30 points or 4.50% to 16,649.64 and the S&P CNX Nifty sliding 211.15 points or 4.09% to 4,946.55 in the week.
As per provisional data, foreign funds sold shares worth a net Rs 654.31 crore on Friday, 23 May 2008. Domestic funds bought shares worth a net Rs 750.03 crore on that day.
Inflation based on the whole price index rose 7.82% in the year through 10 May 2008, marginally lower than 7.83% rise in the previous week, government data released on Friday, 23 May 2008, showed. Meanwhile, inflation for the year through 15 March 2008 was revised upwards to 8.02% compared to provisional figure of 6.68%.
Meanwhile, not satisfied with the United Progressive Alliance (UPA's) replies to their queries on the nuclear issue,the Left parties are likely to ask the government to finalise an India-specific safeguards agreement with International Atomic Energy Agency (IAEA) only after the 123 agreement with the US lapses.
The Left opposition to the 123 agreement is because they feel it was bound by the Hyde Act which was detrimental to India's sovereignty and its pursuance of an independent foreign policy. Further talks will be held in the UPA-Left Committee meeting to be held on 28 May 2008 to discuss the Indo-US nuclear deal.
Meanwhile as per results announced for second round of elections on 26 May 2008, the Bharatiya Janata Party (BJP) won 110 seats out of 224, just short of a simple majority. The Congress has won 80 seats and the Janata Dal (Secular) claimed 28. Independents won six seats. In the 28 constituencies of Bangalore, the BJP has won 17 seats, the Congress won nine, and the JD(S) picked up one.
Aggregate results of 1886 companies showed 18.70% rise in net profit on 22.60% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 28.10% rise in net profit on 22% rise in net sales in the year ended March 2008 over year ended March 2007.
Expiry of May 2008 futures & options series on Thursday, 29 May 2008 will keep the market volatile in the coming days. As per reports, rollover of Nifty positions from May 2008 series to June 2008 series stood at 32% and marketwide positions were 18%, as on 23 May 2008.
Asian markets were trading weak today, 26 May 2008. China's Shanghai Composite (down 1.69% at 3,414.32), Japan's Nikkei (down 2.23% at 13,699.85), Hang Seng (down 2.31% at 24,144.18), Taiwan Weighted (down 1.32% at 8,717.79), Singapore's Straits Times (down 1.06% at 3,088.98), and South Korea's Seoul Composite (down 1.73% at 1,796.23) edged lower
On Friday, 23 May 2008 US markets declined on concerns about a worsening housing recession and rising crude oil prices put renewed pressure on a market marred by worries that inflation will crimp consumption and further weaken the economy. The Dow Jones industrial average plunged 145.99 points, or 1.16%, to 12,479.63. The S&P 500 index declined 18.42 points, or 1.32%, to 1,375.93, and the Nasdaq Composite index fell 19.91 points, or 0.81%, to 2,444.67.
Back home, relentless selling in realty, oil & gas and metal stocks spooked sell-off in late trade on Friday, 23 May 2008. The 30-share BSE Sensex settled 257.47 points or 1.52% lower at 16,649.64 and the broader based S&P CNX Nifty was down 78.9 points or 1.57% at 4,946.55, on that day.
The key benchmark indices suffered losses in the week ended Friday, 3 May 2008 with the BSE Sensex plunging 785.30 points or 4.50% to 16,649.64 and the S&P CNX Nifty sliding 211.15 points or 4.09% to 4,946.55 in the week.
As per provisional data, foreign funds sold shares worth a net Rs 654.31 crore on Friday, 23 May 2008. Domestic funds bought shares worth a net Rs 750.03 crore on that day.
Inflation based on the whole price index rose 7.82% in the year through 10 May 2008, marginally lower than 7.83% rise in the previous week, government data released on Friday, 23 May 2008, showed. Meanwhile, inflation for the year through 15 March 2008 was revised upwards to 8.02% compared to provisional figure of 6.68%.
Meanwhile, not satisfied with the United Progressive Alliance (UPA's) replies to their queries on the nuclear issue,the Left parties are likely to ask the government to finalise an India-specific safeguards agreement with International Atomic Energy Agency (IAEA) only after the 123 agreement with the US lapses.
The Left opposition to the 123 agreement is because they feel it was bound by the Hyde Act which was detrimental to India's sovereignty and its pursuance of an independent foreign policy. Further talks will be held in the UPA-Left Committee meeting to be held on 28 May 2008 to discuss the Indo-US nuclear deal.
Meanwhile as per results announced for second round of elections on 26 May 2008, the Bharatiya Janata Party (BJP) won 110 seats out of 224, just short of a simple majority. The Congress has won 80 seats and the Janata Dal (Secular) claimed 28. Independents won six seats. In the 28 constituencies of Bangalore, the BJP has won 17 seats, the Congress won nine, and the JD(S) picked up one.
Market to open lower
Cash market will open lower, sensex may reach 16K levels.
TOAYS TARGET LEVELS:16500_ 16350
AND IF GO BELOW THIS LEVEL
16134 OR EVEN 15997
BEST SUPPORT AT 16153
TOAYS TARGET LEVELS:16500_ 16350
AND IF GO BELOW THIS LEVEL
16134 OR EVEN 15997
BEST SUPPORT AT 16153
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