Key benchmark indices settled lower after swinging wildly either
ways throughout the day. Global cues were mixed with negative bias.
However buying momentum in small-cap and mid-cap stocks kept the
market breadth strong. European market, which opened after Indian
markets were mixed. While Asian markets, which opened before Indian
markets were trading lower.
Selling pressure was seen in capital goods, banking and power
stocks while metal, realty, fertiliser and select technology stocks
witnessed buying demand.
The BSE 30-share Sensex settled 78.82 points or 0.54% lower at
14,577.87. The benchmark index opened 62.08 points lower at
14,594.64 tracking negative global cues. At the day's low of
14,503.51 hit in mid-morning trade, the Sensex lost 153.18 points.
However at the day's high of 14,725.94 hit in early afternoon
trade, the Sensex gained 69.25 points.
The barometer index BSE Sensex is down 5709.12 points in the
calendar year 2008 so far from its close of 20,286.99 on 31
December 2007. It is 6628.90 points away from its all-time high of
21,206.77 struck on 10 January 2008.
The S&P CNX Nifty lost 18.2 points or 0.41% to settle at 4395.35.
It has touched an intraday high of 4436.15 and low of 4,362.90
during the day. Nifty August 2008 futures were at 4,400, a sharp
premium of 37.10 points.
The market breadth was strong on BSE with 1827 shares advancing as
compared to 837 that declined. 56 remained unchanged.
The BSE Mid-Cap index was up 1.77% to 5,742.72 and the BSE
Small-Cap index gained 1.77% to 7,103.34. Both these indices
outperformed the Sensex.
The total turnover on BSE amounted to Rs 5987 crore as compared to
Rs 6,763.87 crore on Friday, 1 August 2008. The total turnover on
BSE amounted to Rs 5987 crore as compared to Rs 6,763.87 crore on
Friday, 1 August 2008. Turnover in NSE's futures & options segment
amounted to Rs 43364.62 crore as compared to Rs 48778.01 crore on
Friday, 1 August 2008
Among the 30-member Sensex pack, 19 declined while the rest gained.
Diversified major Grasim surged 3.45% to Rs 1899.50, off sharply
from day's low of Rs 1795. It was the top gainer from Sensex pack.
Other cement counters, UltraTech Cement Company (up 1.49% to Rs
575), Birla Corporation (up 3.99% to Rs 170.85), and ACC (up 1.66%
to Rs 586.05), also logged gains.
Cement counters advanced despite agreeing to maintain status quo on
low monsoon demand, capacity addition. Cement companies, which
agreed in May to hold prices for three months to help the
government contain inflation, could find it difficult to raise
rates when the moratorium ends on 14 August 2008.
India's largest pharma company by sales, Ranbaxy Laboratories
climbed up 2.80% to Rs 524 after the United States district court
of Maryland has given 60 days time to the Indian drug maker to
submit all documents sought by the Department of Justice through an
information-seeking motion before the court on 3 July 2008.
Steel heavyweights gained on fresh buying. Tata Steel, India's
largest private sector steelmaker by sales advanced 1.36% to Rs
689.90. As per reports, the company has consolidated all its
overseas assets including Corus under a new holding company, Tata
Steel Global, to raise funds for its overseas expansion including
future acquisitions. Tata Steel Global, based in Singapore with
over $13 billion enterprise value, will raise funds for
international acquisitions of smaller steel makers and mines.
Steel Authority of India (SAIL) gained 4.46% to Rs 150.90.
Reportedly the company has formed an equal stake joint venture with
Manganese Ore India to produce 1 lakh tonnes of ferro alloys used
for steel making. The investment for the venture would be Rs 400
crore.
JSW Steel (up 9.20% to Rs 870), Ispat Industries (up 9.37% to Rs
29.75), and Bhushan Steel (up 0.88% to Rs 945.05) rose.
Auto stocks showed mixed trend. Maruti Suzuki India gained 1.70% to
Rs 570.05. On 1 August 2008, Maruti Suzuki India said its total
sales rose 1.1% to 58,543 cars in July 2008 over July 2007.
Domestic sales grew 0.1% to 52,911 units while exports climbed 11%
to 5,632 units in July 2008 over July 2007.
India's top truck market Tata Motors fell 1.03% to Rs 394.50 after
the company reported a 3% decline in total sales to 40,729 units in
July 2008 over July 2007. The company cited high interest rates and
reducing finance availability for the decline.
However Mahindra & Mahindra, the country's largest tractor maker by
sales, fell 1.27% to Rs 517.05 after the company posted 16.45%
decline in sales to 12,078 units in July 2008 over July 2007.
Hero Honda, the world's largest two-wheeler maker in terms of sales
rose 0.35% to Rs 798.55. The company logged 40% jump in sales to
2.81 lakh units in July 2008 over July 2007. Bajaj Auto was down
0.48% to Rs 342.10. The company reported a mere 4% growth in
two-wheeler sales at 1.62 lakh units in July 2008 over July 2007.
Reliance Communication (RCom), the country's second largest
cellular services provider by of market capitalisation rose 0.58%
to Rs 439.35. As per reports, Reliance Infratel, a unit of RCom is
likely to defer its IPO plans as market regulator Securities and
Exchange Board of India (SEBI)'s go ahead for the public issue is
set to expire on 11 August 2008.
Jaiprakash Associates (up 2.55% to Rs 174.80) and Hindalco (up
1.03% to Rs 142.20) edged higher from Sensex pack.
IT pivotals showed mixed trend. Satyam Computer Services (up 0.98%
to Rs 395), and Infosys Technologies (up 0.97% to Rs 1656), logged
gains.
However India's largest software services exporter TCS slumped
2.59% to Rs 817.50 on 3 lakh shares. It was the top loser from
Sensex pack. India's third largest software services exporter Wipro
fell 0.49% to Rs 430.50
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries declined 2.54% at Rs 2241.25 on
10.27 lakh shares. The stock moved in a range of Rs 2310 and Rs
2233.15 during the day.
Oil and Natural Gas Corporation (ONGC), the nation's largest oil
exploration company in terms of market capitalisation was down
1.69% to Rs 981. The shipping ministry has reportedly granted
relief to the company on the issue of age of vessels it hires,
thereby saving $8 billion investment planned by ONGC to bring new
offshore vessels.
India's largest power generation company in terms of sales, NTPC
lost 0.98% to Rs 174.95. The company may reportedly enter into
agreements with three Oman-based firms to set up power projects in
the Gulf country. In return, the Indian firm plans to use their
association to secure gas supplies for its plants.
DLF (down 1.37% to Rs 513), Bhel (down 2.25% to Rs 1717), and
Larsen & Toubro (down 1.33% to Rs 2656.70), edged lower from Sensex
pack.
Banking shares edged lower after firm start. ICICI Bank (down 0.87%
to Rs 636.50), HDFC Bank (down 0.30% to Rs 1104), and State Bank of
India (down 0.22% to Rs 1497), slipped from the frontline banking
pack.
A whole host of stocks were locked in 20% upper circuit filter on
momentum buying. LML (up 20% to Rs 12.02), GHCL (up 20% to Rs
79.95), Lloyds Steel (up 19.95% to Rs 14.13), Span Diagnostics (up
19.94% to Rs 76.40), and Sabero Organics (up 19.95% to Rs 20.52)
surged.
Reliance Natural Resources topped the turnover charts on BSE with a
turnover of Rs 469 crore followed by Reliance Capital (Rs 271.50
crore), Reliance Industries (Rs 233 crore), Essar Oil (Rs 220
crore) and Reliance Petroleum (Rs 177.75 crore), in that order.
Reliance Natural Resources also led the volumes chart on BSE with
volumes of 4.50 crore shares followed by Ispat Industries (2.86
crore shares), IFCI (1.95 crore shares), Bellary Steels (1.15 crore
shares) and Kashyap Technologies (1.11 crore shares), in that order.
Fertilser shares advanced on reports that the department of
fertilizers has almost exhausted the budgetary allocation of Rs
31000 crore to the fertiliser sector and has requested for an
additional Rs 66000 crore still pending with Ministry of Finance.
Chambal Fertiliser (up 0.55% to Rs 82.25), Bharat Fertiliser (up
5.95% to Rs 65), Coramandel Fertiliser (up 0.67% to Rs 172.10), and
Tata Chemicals (up 4.51% to Rs 345.25), advanced.
Real estate stocks gained on fresh buying. Anant Raj Industries (up
4.25% to Rs 152.20), HDIL (up 4.20% to Rs 477.55), and Indiabulls
Real Estate (up 4.06% to Rs 303.55), gained from realty space.
Essar Oil spurted 15.75% to Rs 230 on reports the company is in
talks to sell petrol to Iran and has signed its first-ever term
contract with Tehran to import 1.6 million barrels of crude oil
every month.
HCL Technologies jumped 6.12% to Rs 220 despite reporting net loss
of Rs 13.54 crore in Q4 June 2008 as against net profit of Rs
236.08 crore in Q3 March 2008. HCL Technologies' net sales fell
13.16% to Rs 1107.75 crore in Q4 June 2008 over Q3 March 2008. The
company accounted forex loss of Rs 306.7 crore for the year ended
June 2008. The company announced the results after trading hours on
Friday, 1 August 2008.
FDC surged 7.42% to Rs 36.20 after the company said its board will
meet on 12 August 2008 to consider buy back of equity shares. The
company made this announcement during trading hours today, 4 August
2008.
Monsanto India rose 2.68% to Rs 1528 after 4.32 lakh shares, or 5%
of company's equity, changed hands in a block deal at Rs 1,488.15
on BSE.
Finance Minister P Chidambaram on Saturday, 2 August 2008 said the
country has the potential to achieve 11% economic growth rate and
also sustain it like China. He said the country has achieved around
9% growth rate in the last four years but that was not enough.
Meanwhile inflation is expected to cool down to 8-9% by March 2009
if the global crude oil prices do not go up from the current level,
Prime Minister's Economic Advisory Council (EAC) Chairman C
Rangarajan said. The EAC is expected to submit its report on
outlook of Economy for 2008-09 next week. In January, the EAC had
projected GDP growth of 8.5% for 2008-09.
With the Q1 June 2008 earnings season over, there is lack of any
major near term trigger for the domestic bourses. Aggregate results
of 1977 companies showed 37.3% rise in net profit on 5.1% rise in
net sales in Q1 June 2008 over Q1 June 2007.
European markets, which opened after Indian market, were mixed. Key
benchmark indices in Germany and France were down by between 0.23%
and 0.49%. However UK's FTSE 100 rose 0.31%.
Asian markets, which opened before Indian market, were trading
lower today, 4 August 2008. Key benchmark indices in China, Japan,
Hong Kong, Taiwan, Singapore, and South Korea were down by between
0.36% and 2.14%
Stocks fell on Wall Street on Friday, 1 August 2008 pushed by
billions in losses at largest US automaker General Motors, higher
unemployment figures and rising oil prices. The blue-chip Dow Jones
Industrial Average dropped 51.70 points, or 0.5%, to 11,326.32. The
broader Standard & Poor's 500 Index fell 7.07 points, or 0.6%, to
1,260.31. The technology- heavy Nasdaq Composite Index lost 14.59
points, or 0.6%, to 2,310.96.
Back home, local benchmark indices advanced on Friday, 1 August
2008 brushing aside weak global cues, as prospects of the Indo-US
nuclear being operationalised took centre stage after the UN
nuclear watchdog endorsed that India met all safeguard standards.
The Bombay Stock Exchange's Sensex surged 300.94 points or 2.10% to
14,656.69,and the National Stock Exchange's Nifty ended gained
80.60 points or 1.86% to at 4413.55, on that day.
Monday, August 4, 2008
Todays Tips
Today's High for IFCI : Rs. 52.40
Total Profit : Rs. 3,000/- per 1000 stocks.
Today's High for Titan Industries : Rs. 1284
Total Profit : Rs. 3,000/- per 1000 stocks.
Today's High for Titan Industries : Rs. 1284
Fresh selling at day's high
Fresh selling at day's high pulled the market once again in
negative zone again in choppy trade. However buying momentum in
small-cap and mid-cap stocks kept the market breadth strong. Global
cues were weak. Auto shares were mixed.
At 12:25 IST, the BSE 30-share Sensex was down 102.05 points or
0.70% to 14,554.64. The benchmark index opened 62.08 points lower
at 14,594.64 tracking negative global cues. At the day's low of
14,503.51 hit in mid-morning trade, the Sensex lost 153.18 points.
However at the day's high of 14,725.94, the Sensex gained 69.25
points.
The S&P CNX Nifty was down 20.60 points or 0.69% to 4,382.95
The market breadth was strong on BSE with 1648 shares advancing as
compared to 762 that declined. 66 remained unchanged.
The BSE Mid-Cap index was up 1.05% to 5,701.91 and the BSE
Small-Cap index gained 1.15% to 7,060.39. Both these indices
outperformed the Sensex.
The total turnover on BSE amounted to Rs 2894 crore at 12:30 IST as
compared to Rs 1856 by 11:30 IST
Among the 30-member Sensex pack, 17 declined while the rest gained.
IT pivotals showed divergent trend. India's fourth largest software
services exporter Satyam Computer Services rose 1.35% to Rs 396.45
on 4.46 lakh shares. It was the top gainer from Sensex pack.
Infosys Technologies gained 1.23% to Rs 1660.20 and Wipro slipped
0.36% to Rs 431.05, showed divergent trend.
However India's largest software services exporter TCS slumped
2.41% to Rs 819 on 1.29 lakh shares. It was the top loser from
Sensex pack.
Auto stocks were mixed. Maruti Suzuki India gained 1.36% to Rs
568.50. On 1 August 2008, Maruti Suzuki India said its total sales
rose 1.1% to 58,543 cars in July 2008 over July 2007. Domestic
sales grew 0.1% to 52,911 units while exports climbed 11% to 5,632
units in July 2008 over July 2007.
India's top truck market Tata Motors was down 0.15% to Rs 397.80
after the company reported a 3% decline in total sales to 40,729
units in July 2008 over July 2007. The company cited high interest
rates and reducing finance availability for the decline.
Mahindra & Mahindra, the country's largest tractor maker by sales,
fell 1.47% to Rs 516 after the company posted 16.45% decline in
sales to 12,078 units in July 2008 over July 2007.
Hero Honda, the world's largest two-wheeler maker in terms of sales
shed 0.97% to Rs 788. The company logged 40% jump in sales to 2.81
lakh units in July 2008 over July 2007. Bajaj Auto was down 0.82%
to Rs 515. The company reported a mere 4% growth in two-wheeler
sales at 1.62 lakh units in July 2008 over July 2007.
Reliance Communication (RCom), the country's second largest
cellular services provider by of market capitalisation rose 0.66%
to Rs 439.80. As per reports, Reliance Infratel, a unit of RCom is
likely to defer its IPO plans as market regulator Securities and
Exchange Board of India (SEBI)'s go ahead for the public issue is
set to expire on 11 August 2008.
Grasim (up 1.30% to Rs 1860), ACC (up 1.13% to Rs 583), and Ambuja
Cements (up 0.66% to Rs 83.35), edged higher from Sensex pack.
Tata Steel, India's largest private sector steelmaker by sales fell
1.25% to Rs 672.15. As per reports, the company has consolidated
all its overseas assets including Corus under a new holding
company, Tata Steel Global, to raise funds for its overseas
expansion including future acquisitions. Tata Steel Global, based
in Singapore with over $13 billion enterprise value, will raise
funds for international acquisitions of smaller steel makers and
mines.
India's largest power generation company in terms of sales, NTPC
lost 1.13% to Rs 174.65. The company may reportedly enter into
agreements with three Oman-based firms to set up power projects in
the Gulf country. In return, the Indian firm plans to use their
association to secure gas supplies for its plants.
HDFC (down 2.17% to Rs 2350), Bhel (down 1.74% to Rs 1725.90), and
DLF (down 0.93% to Rs 515.30), edged lower from Sensex pack.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries declined 1.98% at Rs 2254.20 on
5.07 lakh shares. The stock moved in range of Rs 2310 and Rs 2243
so far in the day.
Zylog Systems declined 1.97% to Rs 285.95 even as the company
posted 38.69% rise in net profit to Rs 25.47 crore on a 12.37%
growth in total income to Rs 184.33 crore in Q1 June 2008 over Q4
March 2008. The company announced the results on Saturday, 2 August
2008.
Essar Oil spurted 6.19% to Rs 211 on reports the company is in
talks to sell petrol to Iran and has signed its first-ever term
contract with Tehran to import 1.6 million barrels of crude oil
every month.
Dabur India rose 2.05% to Rs 92.25 on reports the firm will invest
over Rs 250 crore in the next one year to set up a greenfield
facility for manufacturing a range of consumer goods and upgrade
its existing facilities.
US light crude for September delivery rose 77 cents at $125.87
today, 4 August 2008, on supply worries, lifted by concern over
Iran's nuclear activities, further violence in Nigeria, and a
tropical storm that has formed near the Gulf of Mexico.
With the Q1 June 2008 earnings season over, there is lack of any
major near term trigger for the domestic bourses. Aggregate results
of 1977 companies showed 37.3% rise in net profit on 5.1% rise in
net sales in Q1 June 2008 over Q1 June 2007.
Asian markets were trading lower today, 4 August 2008. Key
benchmark indices in China, Japan, Hong Kong, Taiwan, Singapore,
and South Korea were down by between 0.36% and 1.95%
Stocks fell on Wall Street on Friday, 1 August 2008 pushed by
billions in losses at largest US automaker General Motors, higher
unemployment figures and rising oil prices. The blue-chip Dow Jones
Industrial Average dropped 51.70 points, or 0.5%, to 11,326.32. The
broader Standard & Poor's 500 Index fell 7.07 points, or 0.6%, to
1,260.31. The technology- heavy Nasdaq Composite Index lost 14.59
points, or 0.6%, to 2,310.96.
Back home, local benchmark indices advanced on Friday, 1 August
2008 brushing aside weak global cues, as prospects of the Indo-US
nuclear being operationalised took centre stage after the UN
nuclear watchdog endorsed that India met all safeguard standards.
The Bombay Stock Exchange's Sensex surged 300.94 points or 2.10% to
14,656.69,and the National Stock Exchange's Nifty ended gained
80.60 points or 1.86% to at 4413.55, on that day.
negative zone again in choppy trade. However buying momentum in
small-cap and mid-cap stocks kept the market breadth strong. Global
cues were weak. Auto shares were mixed.
At 12:25 IST, the BSE 30-share Sensex was down 102.05 points or
0.70% to 14,554.64. The benchmark index opened 62.08 points lower
at 14,594.64 tracking negative global cues. At the day's low of
14,503.51 hit in mid-morning trade, the Sensex lost 153.18 points.
However at the day's high of 14,725.94, the Sensex gained 69.25
points.
The S&P CNX Nifty was down 20.60 points or 0.69% to 4,382.95
The market breadth was strong on BSE with 1648 shares advancing as
compared to 762 that declined. 66 remained unchanged.
The BSE Mid-Cap index was up 1.05% to 5,701.91 and the BSE
Small-Cap index gained 1.15% to 7,060.39. Both these indices
outperformed the Sensex.
The total turnover on BSE amounted to Rs 2894 crore at 12:30 IST as
compared to Rs 1856 by 11:30 IST
Among the 30-member Sensex pack, 17 declined while the rest gained.
IT pivotals showed divergent trend. India's fourth largest software
services exporter Satyam Computer Services rose 1.35% to Rs 396.45
on 4.46 lakh shares. It was the top gainer from Sensex pack.
Infosys Technologies gained 1.23% to Rs 1660.20 and Wipro slipped
0.36% to Rs 431.05, showed divergent trend.
However India's largest software services exporter TCS slumped
2.41% to Rs 819 on 1.29 lakh shares. It was the top loser from
Sensex pack.
Auto stocks were mixed. Maruti Suzuki India gained 1.36% to Rs
568.50. On 1 August 2008, Maruti Suzuki India said its total sales
rose 1.1% to 58,543 cars in July 2008 over July 2007. Domestic
sales grew 0.1% to 52,911 units while exports climbed 11% to 5,632
units in July 2008 over July 2007.
India's top truck market Tata Motors was down 0.15% to Rs 397.80
after the company reported a 3% decline in total sales to 40,729
units in July 2008 over July 2007. The company cited high interest
rates and reducing finance availability for the decline.
Mahindra & Mahindra, the country's largest tractor maker by sales,
fell 1.47% to Rs 516 after the company posted 16.45% decline in
sales to 12,078 units in July 2008 over July 2007.
Hero Honda, the world's largest two-wheeler maker in terms of sales
shed 0.97% to Rs 788. The company logged 40% jump in sales to 2.81
lakh units in July 2008 over July 2007. Bajaj Auto was down 0.82%
to Rs 515. The company reported a mere 4% growth in two-wheeler
sales at 1.62 lakh units in July 2008 over July 2007.
Reliance Communication (RCom), the country's second largest
cellular services provider by of market capitalisation rose 0.66%
to Rs 439.80. As per reports, Reliance Infratel, a unit of RCom is
likely to defer its IPO plans as market regulator Securities and
Exchange Board of India (SEBI)'s go ahead for the public issue is
set to expire on 11 August 2008.
Grasim (up 1.30% to Rs 1860), ACC (up 1.13% to Rs 583), and Ambuja
Cements (up 0.66% to Rs 83.35), edged higher from Sensex pack.
Tata Steel, India's largest private sector steelmaker by sales fell
1.25% to Rs 672.15. As per reports, the company has consolidated
all its overseas assets including Corus under a new holding
company, Tata Steel Global, to raise funds for its overseas
expansion including future acquisitions. Tata Steel Global, based
in Singapore with over $13 billion enterprise value, will raise
funds for international acquisitions of smaller steel makers and
mines.
India's largest power generation company in terms of sales, NTPC
lost 1.13% to Rs 174.65. The company may reportedly enter into
agreements with three Oman-based firms to set up power projects in
the Gulf country. In return, the Indian firm plans to use their
association to secure gas supplies for its plants.
HDFC (down 2.17% to Rs 2350), Bhel (down 1.74% to Rs 1725.90), and
DLF (down 0.93% to Rs 515.30), edged lower from Sensex pack.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries declined 1.98% at Rs 2254.20 on
5.07 lakh shares. The stock moved in range of Rs 2310 and Rs 2243
so far in the day.
Zylog Systems declined 1.97% to Rs 285.95 even as the company
posted 38.69% rise in net profit to Rs 25.47 crore on a 12.37%
growth in total income to Rs 184.33 crore in Q1 June 2008 over Q4
March 2008. The company announced the results on Saturday, 2 August
2008.
Essar Oil spurted 6.19% to Rs 211 on reports the company is in
talks to sell petrol to Iran and has signed its first-ever term
contract with Tehran to import 1.6 million barrels of crude oil
every month.
Dabur India rose 2.05% to Rs 92.25 on reports the firm will invest
over Rs 250 crore in the next one year to set up a greenfield
facility for manufacturing a range of consumer goods and upgrade
its existing facilities.
US light crude for September delivery rose 77 cents at $125.87
today, 4 August 2008, on supply worries, lifted by concern over
Iran's nuclear activities, further violence in Nigeria, and a
tropical storm that has formed near the Gulf of Mexico.
With the Q1 June 2008 earnings season over, there is lack of any
major near term trigger for the domestic bourses. Aggregate results
of 1977 companies showed 37.3% rise in net profit on 5.1% rise in
net sales in Q1 June 2008 over Q1 June 2007.
Asian markets were trading lower today, 4 August 2008. Key
benchmark indices in China, Japan, Hong Kong, Taiwan, Singapore,
and South Korea were down by between 0.36% and 1.95%
Stocks fell on Wall Street on Friday, 1 August 2008 pushed by
billions in losses at largest US automaker General Motors, higher
unemployment figures and rising oil prices. The blue-chip Dow Jones
Industrial Average dropped 51.70 points, or 0.5%, to 11,326.32. The
broader Standard & Poor's 500 Index fell 7.07 points, or 0.6%, to
1,260.31. The technology- heavy Nasdaq Composite Index lost 14.59
points, or 0.6%, to 2,310.96.
Back home, local benchmark indices advanced on Friday, 1 August
2008 brushing aside weak global cues, as prospects of the Indo-US
nuclear being operationalised took centre stage after the UN
nuclear watchdog endorsed that India met all safeguard standards.
The Bombay Stock Exchange's Sensex surged 300.94 points or 2.10% to
14,656.69,and the National Stock Exchange's Nifty ended gained
80.60 points or 1.86% to at 4413.55, on that day.
Pre Market Report 04/08/2008
Spot Nifty R2: 4464 R1:4440 S1: 4370 S2:4348
Key benchmark indices may open lower tracking weak cues from overseas markets. US light crude for September delivery rose 77 cents at $125.87 today, 4 August 2008, on supply worries, lifted by concern over Iran's nuclear activities, further violence in Nigeria, and a tropical storm that has formed near the Gulf of Mexico.
With the Q1 June 2008 earnings season over, there is lack of any major near term trigger for the domestic bourses. Aggregate results of 1977 companies showed 37.3% rise in net profit on 5.1% rise in net sales in Q1 June 2008 over Q1 June 2007.
Asian markets were trading lower today, 4 August 2008. China's Shanghai Composite fell 1.17% or 32.73 points at 2,769.08, Japan's Nikkei slipped 1.02% or 133.53 points at 12,961.06, Hong Kong's Hang Seng plunged 0.99% or 227.26 points at 22,635.34, Taiwan's Taiwan Weighted slipped 0.30% or 21.02 points at 6,981.52, Singapore's Straits Times was down 1.07% or 31.02 points at 2,875.05, and South Korea's Seoul Composite lost 2.48% or 39.03 points at 1,534.74.
Stocks fell on Wall Street on Friday, 1 August 2008 pushed by billions in losses at largest US automaker General Motors, higher unemployment figures and rising oil prices. The blue-chip Dow Jones Industrial Average dropped 51.70 points, or 0.5%, to 11,326.32. The broader Standard & Poor's 500 Index fell 7.07 points, or 0.6%, to 1,260.31. The technology- heavy Nasdaq Composite Index lost 14.59 points, or 0.6%, to 2,310.96.
Back home, local benchmark indices advanced on Friday, 1 August 2008 brushing aside weak global cues, as prospects of the Indo-US nuclear being operationalised took centre stage after the UN nuclear watchdog endorsed that India met all safeguard standards. The Bombay Stock Exchange's Sensex surged 300.94 points or 2.10% to 14,656.69,and the National Stock Exchange's Nifty ended gained 80.60 points or 1.86% to at 4413.55, on that day.
Deputy Finance Minister Pawan Kumar Bansal said that the coalition government has the support to push through three major reforms in the banking, insurance and pension sectors in the next parliamentary session, which is likely to begin on 11 August 2008.
The 30-share BSE Sensex rose 381.75 points or 2.67% to 14,656.69 and the CNX S&P Nifty rose 101.7 points or 2.35% to 4413.55, in the week ended 1 August 2008.
Foreign institutional investors were net sellers of equities worth Rs 587.28 crore while mutual funds net bought Rs 396.34 crore of equity on Friday, 1 August 2008, according to provisional data on NSE.
Foreign institutional investors (FIIs) were net buyers of Rs 196.55 crore in the futures & options segment on 1 August 2008. They were net buyers of index futures to the tune of Rs 460.53 crore and bought index options worth Rs 341.77 crore. They were net sellers of stock futures to the tune of Rs 732.50 crore and purchased stock options worth Rs 126.46 crore
Key benchmark indices may open lower tracking weak cues from overseas markets. US light crude for September delivery rose 77 cents at $125.87 today, 4 August 2008, on supply worries, lifted by concern over Iran's nuclear activities, further violence in Nigeria, and a tropical storm that has formed near the Gulf of Mexico.
With the Q1 June 2008 earnings season over, there is lack of any major near term trigger for the domestic bourses. Aggregate results of 1977 companies showed 37.3% rise in net profit on 5.1% rise in net sales in Q1 June 2008 over Q1 June 2007.
Asian markets were trading lower today, 4 August 2008. China's Shanghai Composite fell 1.17% or 32.73 points at 2,769.08, Japan's Nikkei slipped 1.02% or 133.53 points at 12,961.06, Hong Kong's Hang Seng plunged 0.99% or 227.26 points at 22,635.34, Taiwan's Taiwan Weighted slipped 0.30% or 21.02 points at 6,981.52, Singapore's Straits Times was down 1.07% or 31.02 points at 2,875.05, and South Korea's Seoul Composite lost 2.48% or 39.03 points at 1,534.74.
Stocks fell on Wall Street on Friday, 1 August 2008 pushed by billions in losses at largest US automaker General Motors, higher unemployment figures and rising oil prices. The blue-chip Dow Jones Industrial Average dropped 51.70 points, or 0.5%, to 11,326.32. The broader Standard & Poor's 500 Index fell 7.07 points, or 0.6%, to 1,260.31. The technology- heavy Nasdaq Composite Index lost 14.59 points, or 0.6%, to 2,310.96.
Back home, local benchmark indices advanced on Friday, 1 August 2008 brushing aside weak global cues, as prospects of the Indo-US nuclear being operationalised took centre stage after the UN nuclear watchdog endorsed that India met all safeguard standards. The Bombay Stock Exchange's Sensex surged 300.94 points or 2.10% to 14,656.69,and the National Stock Exchange's Nifty ended gained 80.60 points or 1.86% to at 4413.55, on that day.
Deputy Finance Minister Pawan Kumar Bansal said that the coalition government has the support to push through three major reforms in the banking, insurance and pension sectors in the next parliamentary session, which is likely to begin on 11 August 2008.
The 30-share BSE Sensex rose 381.75 points or 2.67% to 14,656.69 and the CNX S&P Nifty rose 101.7 points or 2.35% to 4413.55, in the week ended 1 August 2008.
Foreign institutional investors were net sellers of equities worth Rs 587.28 crore while mutual funds net bought Rs 396.34 crore of equity on Friday, 1 August 2008, according to provisional data on NSE.
Foreign institutional investors (FIIs) were net buyers of Rs 196.55 crore in the futures & options segment on 1 August 2008. They were net buyers of index futures to the tune of Rs 460.53 crore and bought index options worth Rs 341.77 crore. They were net sellers of stock futures to the tune of Rs 732.50 crore and purchased stock options worth Rs 126.46 crore
CALLS : 4th August 2008
Buy IFCI : CMP : 49.95, Buy on Dips, Target : 54 - 56 Stop Loss : 47
Buy TATAPOWER above 1127 SL 1117 TGT 1139 - 1154
Others Titan Industries, IDEA, RPOWER, RELINFRA
Buy TATAPOWER above 1127 SL 1117 TGT 1139 - 1154
Others Titan Industries, IDEA, RPOWER, RELINFRA
Sunday, August 3, 2008
Post Market Report:01/08/2008
The market extended a recovery witnessed recently, with the Sensex
surging 865.15 points in the last three trading sessions. The
market, which had opened weak on subdued global cues completely
changed the course, ending near the day's high today. The rally
gathered steam in late trade after United Nations nuclear watchdog
chief Mohamed ElBaradei today said a basic inspection plan for
India met all safeguards standards. Members of International Atomic
Energy Agency's (IAEA) board of governors will be voting on the
India-specific nuclear safeguard agreement, a key step in
operationalisation of the Indo-US nuclear deal.
Index heavyweight Reliance Industries surged. Oil & gas, capital
goods, power stocks gained. Jaipraksh Associates gained more than
8.5%. State Bank of India and HDFC jumped more than 5.5% each.
Bharat Heavy Electricals and Reliance Infrastructure surged more
than 4.5% each.
Reliance Communications (RCom) dipped more than 12% on
disappointing Q1 results. The market breadth turned positive from
earlier weak breadth.
Finance Minister P Chidambaram today said interest rates may
moderate in six to 12 months. A number of public sector and private
sector banks have raised lending rates and deposit rates after the
Reserve Bank of India, early this week, raised repo rate by 50
basis points to 9% and cash reserve ratio by 25 basis points to 9%,
at its quarterly policy review.
Telecom minister A Raja today said the government will hold a
global auction for high-speed third-generation (3G) mobile services
and have five operators initially. India has 60 MHz of 3G spectrum
available, and will allow both GSM and CDMA 3G services, he said.
The 30-share BSE Sensex jumped 300.94 points or 2.1% at 14,656.69.
Sensex rose 326.58 points at the day's high of 14,682.33 hit in
late trade. At the day's low of 14,032.87, the Sensex lost 322.88
points in early trade. The initial sharp fall was due to weak
global cues.
The barometer index BSE Sensex is down 5,630.3 points or 27.75% in
the calendar year 2008 so far from its close of 20,286.99 on 31
December 2007. It is 6,550.08 points or 30.88% away from its
all-time high of 21,206.77 struck on 10 January 2008.
The broader based S&P CNX Nifty was up 80.6 points or 1.86% at
4,413.55. Nifty August 2008 futures were at 4435, at a premium of
21.45 points as compared to spot closing of 4413.55.
The BSE clocked the turnover of Rs 6725 crore today as compared to
Rs 5,091.04 crore on Thursday, 31 July 2008. NSE's futures &
options (F&O) segment turnover was Rs 48,778.01 crore, which was
lower than Rs 64,640.25 crore on Thursday, 31 July 2008.
The market breadth turned positive compared to weak breadth earlier
in the day. 1,551 shares advanced on BSE as compared to 1108 that
declined. 73 remained unchanged.
Among the 30-member Sensex pack, 22 gained while the rest declined.
The BSE Mid-Cap index rose 1.35% to 5,642.74 and BSE Small-Cap
index rose 0.97% to 6,980.10. Both these indices underperformed
Sensex.
BSE Capital Goods index (up 3.84% to 12,132), Power index (up 3.4%
to 2,661.75), BSE PSU index (up 3.27% to 6,925.52), BSE Oil & Gas
(up 3.26% to 10,047.86), BSE Bankex (up 3.26% to 6,728.56), BSE IT
index (up 2.99% to 3,800.06), BSE Metal index (up 2.62% to
13,250.31), BSE BSE Realty index (up 2.37% to 5,199.20)
outperformed Sensex.
BSE FMCG index (down 0.8% to 2,121.96), BSE Auto index (down 0.63%
to 3,656.49), BSE Teck index (up 0.63% to 3,019.32), BSE HealthCare
(up 0.69% to 4,190.84), BSE Consumer Durables index (up 0.71% to
3,712.19), underperformed Sensex.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) rose 4.24% to Rs 2,299.75. It
recovered from session's low of Rs 2,160.
PSU banks rose. Indian Bank (up 8.39% to Rs 104.05), Bank of Baroda
(up 7.98% to Rs 275.90), State Bank of India (up 6.05% to Rs
1,500.30), Punjab National Bank (up 7.16% to Rs 483.55), IDBI Bank
(up 5.27% to Rs 78.90), Bank of India (up 6.17% to Rs 288.25),
Canara Bank (up 7.07% to Rs 196.75) edged higher.
Union finance minister P Chidambaram on Thursday said the
government will carry out all reform measures that do not require
parliamentary approval. At the same time, he asserted that the
three overarching bills for financial sector reforms--the Banking
Regulation (Amendment) Bill, 2005; the Insurance Bill seeking to
raise the foreign direct investment (FDI) cap from 26% to 49% and
the Pension Fund Regulatory and Development Authority Bill,
2005--would be passed by Parliament within the government's term.
Capital goods stocks rose. Larsen & Toubro (up 3.45% to Rs
2,692.40) , Bharat Heavy Electricals (up 4.61% to Rs 1,756.50) and
Suzlon Energy (up 7.14% to Rs 238.70) edged higher.
Power stocks rose ahead of the IAEA meet. Reliance Infrastructure
(up 4.71% to Rs 1,010.60), PowerGrid Corporation of India (up 2.85%
to Rs 97.45), NTPC (up 3.67% to Rs 176.70), Reliance Power (up
2.78% to Rs 169.90) edged higher.
OiI & gas stocks rose. BPCL (up 2.28% to Rs 334.75), HPCL (up 2.05%
to Rs 224.45), Indian Oil Corporation (up 3.38% to Rs 416.90),
Reliance Petroleum (up 2.58% to Rs 168.95), ONGC (up 0.08% to Rs
996.85) edged higher. On Thursday, 31 July 2008, the front-month US
crude oil contract settled at $124.08, down $2.69 for the day and
off sharply from a record above $147 a barrel on 11 July 2008.
The world's sixth largest steel maker Tata Steel rose 3.92% to Rs
680.65. It recovered from its lows of Rs 635. On the back of higher
prices and strong volume growth, Tata Steel on Thursday reported
22% growth in net profit to Rs 1488 crore on 46% growth in net
sales to Rs 6165 crore in Q1 June 2008 over Q1 June 2007. The
company said the profitability was impacted by an exchange loss of
Rs 303.40 crore on its overseas bonds due to fall in rupee against
the dollar.
India's largest-listed realty firm, DLF declined 2.13% to Rs
520.15. It recovered from session's lows of Rs 480. On Thursday it
reported 23% growth in consolidated net profit to Rs 1864 crore on
23.2% growth in total revenue to Rs 3846 crore in Q1 June 2008 over
Q1 June 2007. Unitech (down 0.64% to Rs 162.50) and Indiabulls Real
Estate (down 1.24% to Rs 282.50) edged lower.
India's largest car maker by sales Maruti Suzuki India fell 2.5% to
Rs 560.50 on reporting 1.09% rise in vehicle sales to 58,543 units
in July 2008 over July 2007.
India's largest private secor bank by net profit ICICI Bank rose
1.14% to Rs 642.10. It recovered from session's low of Rs 610.
ICICI Bank on Thursday said it has hiked lending and deposit rates.
India's largest dedicated mortgage firm by operating income HDFC
rose 5.51% to Rs 2,402.50. It recovered from session's lows of Rs
2,195.On Thursday, 31 July 2008, HDFC said it has hiked its
floating interest rates on home loans for both existing and new
customers with effect from Friday, 1 August 2008.
India's second largest telecom services provider by sales Reliance
Communications fell 12.65% to Rs 436.80. On Thursday it reported
23.9% growth in consolidated net profit to Rs 1512 crore on 23.7%
growth in revenue to Rs 5322 crore in Q1 June 2008 over Q1 June
2007. This is the slowest profit growth for the company in nine
quarters.
Tata Power Company (down 3.76% to Rs 1,116.50), Hindustan Unilever
(down 1.9% to Rs 235.15), ACC (down 1.33% to Rs 576.50), ITC (down
0.05% to Rs 187.70), edged lower from the Sensex pack.
Jaiprakash Associates (up 8.67% to Rs 170.45), Wipro (up 3.99% to
Rs 432.60), Infosys (up 3.59% to Rs 1,640.10), Satyam Computer
Services (up 2.85% to Rs 391.15) edged higher form Sensex pack.
Reliance Natural Resources clocked the highest volume of 3.78 crore
shares on BSE. IFCI (2.28 crore shares), Ispat Industries (2.04
crore shares), Cybermat Infotek (2.02 crore shares) and Reliance
Communications (1.44 crore shares) were the other volume toppers in
that order.
Reliance Communications clocked the highest turnover of Rs 631.04
crore on BSE. Reliance Natural Resources (Rs 375.37 crore),
Reliance Capital (Rs 347.75 crore), Reliance Industries (Rs 297.09
crore) and Larsen & Toubro (Rs 186.91 crore) were the other
turnover toppers in that order.
The wholesale price index rose 11.98% in the 12 months to 19 July
2008, above the previous week's reading of 11.89%, data released
after market hours yesterday, 31 July 2008 showed.
European markets opened weak France's CAC 40, Germany's DAX and
UK's FTSE 100 fell between 0.34% to 0.94%.
Asian markets were trading mixed after weak start today, 1 August
2008. Japan's Nikkei, Taiwan's Taiwan Weighted, Singapore's Straits
Times, and South Korea's Seoul Composite fell between 0.31% to
2.11%. China's Shanghai Composite rose 1.33% while Hong Kong's Hang
Seng rose 0.58%.
US markets tumbled yesterday, 31 July 2008 after disappointing
economic data dampened sentiment. Federal Reserve Chairman Alan
Greenspan's statement that a slowing global economy may push the
United States into recession and that US housing market crisis is
nowhere near the bottom added to the bearish mood. The Dow plunged
205.67 points, or 1.78%, to 11,378.02. The Standard & Poor's 500
index declined 16.88 points, or 1.31%, to 1,267.38, while the
Nasdaq lost 4.17 points, or 0.18%, to 2,325.55.
surging 865.15 points in the last three trading sessions. The
market, which had opened weak on subdued global cues completely
changed the course, ending near the day's high today. The rally
gathered steam in late trade after United Nations nuclear watchdog
chief Mohamed ElBaradei today said a basic inspection plan for
India met all safeguards standards. Members of International Atomic
Energy Agency's (IAEA) board of governors will be voting on the
India-specific nuclear safeguard agreement, a key step in
operationalisation of the Indo-US nuclear deal.
Index heavyweight Reliance Industries surged. Oil & gas, capital
goods, power stocks gained. Jaipraksh Associates gained more than
8.5%. State Bank of India and HDFC jumped more than 5.5% each.
Bharat Heavy Electricals and Reliance Infrastructure surged more
than 4.5% each.
Reliance Communications (RCom) dipped more than 12% on
disappointing Q1 results. The market breadth turned positive from
earlier weak breadth.
Finance Minister P Chidambaram today said interest rates may
moderate in six to 12 months. A number of public sector and private
sector banks have raised lending rates and deposit rates after the
Reserve Bank of India, early this week, raised repo rate by 50
basis points to 9% and cash reserve ratio by 25 basis points to 9%,
at its quarterly policy review.
Telecom minister A Raja today said the government will hold a
global auction for high-speed third-generation (3G) mobile services
and have five operators initially. India has 60 MHz of 3G spectrum
available, and will allow both GSM and CDMA 3G services, he said.
The 30-share BSE Sensex jumped 300.94 points or 2.1% at 14,656.69.
Sensex rose 326.58 points at the day's high of 14,682.33 hit in
late trade. At the day's low of 14,032.87, the Sensex lost 322.88
points in early trade. The initial sharp fall was due to weak
global cues.
The barometer index BSE Sensex is down 5,630.3 points or 27.75% in
the calendar year 2008 so far from its close of 20,286.99 on 31
December 2007. It is 6,550.08 points or 30.88% away from its
all-time high of 21,206.77 struck on 10 January 2008.
The broader based S&P CNX Nifty was up 80.6 points or 1.86% at
4,413.55. Nifty August 2008 futures were at 4435, at a premium of
21.45 points as compared to spot closing of 4413.55.
The BSE clocked the turnover of Rs 6725 crore today as compared to
Rs 5,091.04 crore on Thursday, 31 July 2008. NSE's futures &
options (F&O) segment turnover was Rs 48,778.01 crore, which was
lower than Rs 64,640.25 crore on Thursday, 31 July 2008.
The market breadth turned positive compared to weak breadth earlier
in the day. 1,551 shares advanced on BSE as compared to 1108 that
declined. 73 remained unchanged.
Among the 30-member Sensex pack, 22 gained while the rest declined.
The BSE Mid-Cap index rose 1.35% to 5,642.74 and BSE Small-Cap
index rose 0.97% to 6,980.10. Both these indices underperformed
Sensex.
BSE Capital Goods index (up 3.84% to 12,132), Power index (up 3.4%
to 2,661.75), BSE PSU index (up 3.27% to 6,925.52), BSE Oil & Gas
(up 3.26% to 10,047.86), BSE Bankex (up 3.26% to 6,728.56), BSE IT
index (up 2.99% to 3,800.06), BSE Metal index (up 2.62% to
13,250.31), BSE BSE Realty index (up 2.37% to 5,199.20)
outperformed Sensex.
BSE FMCG index (down 0.8% to 2,121.96), BSE Auto index (down 0.63%
to 3,656.49), BSE Teck index (up 0.63% to 3,019.32), BSE HealthCare
(up 0.69% to 4,190.84), BSE Consumer Durables index (up 0.71% to
3,712.19), underperformed Sensex.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) rose 4.24% to Rs 2,299.75. It
recovered from session's low of Rs 2,160.
PSU banks rose. Indian Bank (up 8.39% to Rs 104.05), Bank of Baroda
(up 7.98% to Rs 275.90), State Bank of India (up 6.05% to Rs
1,500.30), Punjab National Bank (up 7.16% to Rs 483.55), IDBI Bank
(up 5.27% to Rs 78.90), Bank of India (up 6.17% to Rs 288.25),
Canara Bank (up 7.07% to Rs 196.75) edged higher.
Union finance minister P Chidambaram on Thursday said the
government will carry out all reform measures that do not require
parliamentary approval. At the same time, he asserted that the
three overarching bills for financial sector reforms--the Banking
Regulation (Amendment) Bill, 2005; the Insurance Bill seeking to
raise the foreign direct investment (FDI) cap from 26% to 49% and
the Pension Fund Regulatory and Development Authority Bill,
2005--would be passed by Parliament within the government's term.
Capital goods stocks rose. Larsen & Toubro (up 3.45% to Rs
2,692.40) , Bharat Heavy Electricals (up 4.61% to Rs 1,756.50) and
Suzlon Energy (up 7.14% to Rs 238.70) edged higher.
Power stocks rose ahead of the IAEA meet. Reliance Infrastructure
(up 4.71% to Rs 1,010.60), PowerGrid Corporation of India (up 2.85%
to Rs 97.45), NTPC (up 3.67% to Rs 176.70), Reliance Power (up
2.78% to Rs 169.90) edged higher.
OiI & gas stocks rose. BPCL (up 2.28% to Rs 334.75), HPCL (up 2.05%
to Rs 224.45), Indian Oil Corporation (up 3.38% to Rs 416.90),
Reliance Petroleum (up 2.58% to Rs 168.95), ONGC (up 0.08% to Rs
996.85) edged higher. On Thursday, 31 July 2008, the front-month US
crude oil contract settled at $124.08, down $2.69 for the day and
off sharply from a record above $147 a barrel on 11 July 2008.
The world's sixth largest steel maker Tata Steel rose 3.92% to Rs
680.65. It recovered from its lows of Rs 635. On the back of higher
prices and strong volume growth, Tata Steel on Thursday reported
22% growth in net profit to Rs 1488 crore on 46% growth in net
sales to Rs 6165 crore in Q1 June 2008 over Q1 June 2007. The
company said the profitability was impacted by an exchange loss of
Rs 303.40 crore on its overseas bonds due to fall in rupee against
the dollar.
India's largest-listed realty firm, DLF declined 2.13% to Rs
520.15. It recovered from session's lows of Rs 480. On Thursday it
reported 23% growth in consolidated net profit to Rs 1864 crore on
23.2% growth in total revenue to Rs 3846 crore in Q1 June 2008 over
Q1 June 2007. Unitech (down 0.64% to Rs 162.50) and Indiabulls Real
Estate (down 1.24% to Rs 282.50) edged lower.
India's largest car maker by sales Maruti Suzuki India fell 2.5% to
Rs 560.50 on reporting 1.09% rise in vehicle sales to 58,543 units
in July 2008 over July 2007.
India's largest private secor bank by net profit ICICI Bank rose
1.14% to Rs 642.10. It recovered from session's low of Rs 610.
ICICI Bank on Thursday said it has hiked lending and deposit rates.
India's largest dedicated mortgage firm by operating income HDFC
rose 5.51% to Rs 2,402.50. It recovered from session's lows of Rs
2,195.On Thursday, 31 July 2008, HDFC said it has hiked its
floating interest rates on home loans for both existing and new
customers with effect from Friday, 1 August 2008.
India's second largest telecom services provider by sales Reliance
Communications fell 12.65% to Rs 436.80. On Thursday it reported
23.9% growth in consolidated net profit to Rs 1512 crore on 23.7%
growth in revenue to Rs 5322 crore in Q1 June 2008 over Q1 June
2007. This is the slowest profit growth for the company in nine
quarters.
Tata Power Company (down 3.76% to Rs 1,116.50), Hindustan Unilever
(down 1.9% to Rs 235.15), ACC (down 1.33% to Rs 576.50), ITC (down
0.05% to Rs 187.70), edged lower from the Sensex pack.
Jaiprakash Associates (up 8.67% to Rs 170.45), Wipro (up 3.99% to
Rs 432.60), Infosys (up 3.59% to Rs 1,640.10), Satyam Computer
Services (up 2.85% to Rs 391.15) edged higher form Sensex pack.
Reliance Natural Resources clocked the highest volume of 3.78 crore
shares on BSE. IFCI (2.28 crore shares), Ispat Industries (2.04
crore shares), Cybermat Infotek (2.02 crore shares) and Reliance
Communications (1.44 crore shares) were the other volume toppers in
that order.
Reliance Communications clocked the highest turnover of Rs 631.04
crore on BSE. Reliance Natural Resources (Rs 375.37 crore),
Reliance Capital (Rs 347.75 crore), Reliance Industries (Rs 297.09
crore) and Larsen & Toubro (Rs 186.91 crore) were the other
turnover toppers in that order.
The wholesale price index rose 11.98% in the 12 months to 19 July
2008, above the previous week's reading of 11.89%, data released
after market hours yesterday, 31 July 2008 showed.
European markets opened weak France's CAC 40, Germany's DAX and
UK's FTSE 100 fell between 0.34% to 0.94%.
Asian markets were trading mixed after weak start today, 1 August
2008. Japan's Nikkei, Taiwan's Taiwan Weighted, Singapore's Straits
Times, and South Korea's Seoul Composite fell between 0.31% to
2.11%. China's Shanghai Composite rose 1.33% while Hong Kong's Hang
Seng rose 0.58%.
US markets tumbled yesterday, 31 July 2008 after disappointing
economic data dampened sentiment. Federal Reserve Chairman Alan
Greenspan's statement that a slowing global economy may push the
United States into recession and that US housing market crisis is
nowhere near the bottom added to the bearish mood. The Dow plunged
205.67 points, or 1.78%, to 11,378.02. The Standard & Poor's 500
index declined 16.88 points, or 1.31%, to 1,267.38, while the
Nasdaq lost 4.17 points, or 0.18%, to 2,325.55.
Saturday, August 2, 2008
Weekly Market Update: August 01, 2008
Equity Market Update
Markets gave a knee jerk reaction to the credit policy & recovered swiftly to close the derivatives expiry week with over 2% gains in benchmark indices. IT index gained more than 5% this week. Positive global cues helped the pull back rally and hope of fast track reforms process brought the PSU and banking stocks back in limelight. Overseas investors were net sellers, whereas the domestic investors were net buyers for the week.
Outlook for the week
Global commodity prices have shown signs of correction in the recent past, thus acknowledging a weak global growth outlook. Fresh credit write downs have necessitated further capital raising indicating that the worst is not over. We expect the equity markets across the globe to remain range bound in short to medium term, in the light of high commodity prices and sub-prime related issues.
Quarterly numbers from Indian companies have not given any major negative surprises. Overall top line growth has been robust, although operating margins have declined. Post result corporate interaction indicates continued optimism amidst a challenging environment. We believe the India growth story is here to stay; though there can be some volatility & uncertainty in the short to medium term.
Markets gave a knee jerk reaction to the credit policy & recovered swiftly to close the derivatives expiry week with over 2% gains in benchmark indices. IT index gained more than 5% this week. Positive global cues helped the pull back rally and hope of fast track reforms process brought the PSU and banking stocks back in limelight. Overseas investors were net sellers, whereas the domestic investors were net buyers for the week.
Outlook for the week
Global commodity prices have shown signs of correction in the recent past, thus acknowledging a weak global growth outlook. Fresh credit write downs have necessitated further capital raising indicating that the worst is not over. We expect the equity markets across the globe to remain range bound in short to medium term, in the light of high commodity prices and sub-prime related issues.
Quarterly numbers from Indian companies have not given any major negative surprises. Overall top line growth has been robust, although operating margins have declined. Post result corporate interaction indicates continued optimism amidst a challenging environment. We believe the India growth story is here to stay; though there can be some volatility & uncertainty in the short to medium term.
Friday, August 1, 2008
RCom tumbles on disappointing Q1 results
The market fell in opening trade on weak global cues. Rate
sensitive banking and realty stocks lost as a some prominent banks
hiked their lending rates in line with recent tightening of
monetary policy by the Reserve Bank of India. Reliance
Communications (RCom) dipped more than 12% on disappointing Q1
results. Reliance Industries slipped. The market breadth was weak.
At 10:21 IST, the 30-share BSE Sensex was down 213.83 points or
1.494% at 14,141.25. At the day's low of 14,032.87, the Sensex lost
322.88 points in early trade.
The broader based S&P CNX Nifty was down 58.35 points or 1.35% at
4,274.60.
The market breadth was weak on BSE with 640 shares advancing as
compared to 892 that declined. 43 remained unchanged.
Among the 30-member Sensex pack, 24 declined while the rest gained.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) fell 1.05% to Rs 2,183.
Realty stocks fell. India's largest-listed realty firm, DLF
declined 4.31% to Rs 487.35. On Thursday it reported 23% growth in
consolidated net profit to Rs 1864 crore on 23.2% growth in total
revenue to Rs 3846 crore in Q1 June 2008 over Q1 June 2007. Unitech
(down 1.5% to Rs 161) and Indiabulls Real Estate (down 0.91% to Rs
283.95) edged lower.
HDFC Bank (down 2.92% to Rs 1,064) and State Bank of India (down
2.18% to Rs 1,382.20) edged lower.
India's largest private secor bank by net profit ICICI Bank
declined 1.09% to Rs 628. On Thursday it had hiked lending and
deposit rates. The bank has hiked floating reference rate (FRR) for
consumer loans, including home loans, by 75 basis points to 14.25%,
with effect immediate effect. ICICI Bank has raised its benchmark
advance rate by 75 basis points to 17.25%.
ICICI Bank has also raised interest rates on various tenors of
retail fixed deposits by 75 basis points to 100 basis points with
effect from 1 August 2008.
India's largest dedicated mortgage firm by operating income HDFC
fell 2.2% to Rs 2,226.50. On Thursday, 31 July 2008, HDFC said it
has hiked its floating interest rates on home loans for both
existing and new customers with effect from Friday, 1 August 2008.
HDFC has increased its retail prime lending rate (RPLR) on which
its Adjustable Rate Home Loans (ARHL) is benchmarked, by 75 basis
points with effect 1 August 2008. The increase in RPLR will affect
existing borrowers whose loans come up for re-pricing on or after 1
August 2008, it said.
For new home loan customers the ARHL loans will now be priced at a
minimum of 11.75% per annum while the fixed rates will be at 14.00%
per annum, HDFC said.
India's second largest telecom services provider by sales Reliance
Communications fell 12.41% to Rs 438. On Thursday it reported 23.9%
growth in consolidated net profit to Rs 1512 crore on 23.7% growth
in revenue to Rs 5322 crore in Q1 June 2008 over Q1 June 2007. This
is the slowest profit growth for the company in nine quarters.
The world's sixth largest steel maker Tata Steel rose 1.57% to Rs
665.20. On the back of higher prices and strong volume growth, Tata
Steel on Thursday reported 22% growth in net profit to Rs 1488
crore on 46% growth in net sales to Rs 6165 crore in Q1 June 2008
over Q1 June 2007. The company said the profitability was impacted
by an exchange loss of Rs 303.40 crore on its overseas bonds due to
fall in rupee against the dollar.
Reliance Infrastructure (down 1.82% to Rs 947.60), Ranbaxy
Laboratories (down 1.77% to Rs 490.25), Wipro (down 1.44% to Rs
410), ITC (down 1.49% to Rs 185), Maruti Suzuki India (down 1.69%
to Rs 565) edged lower from Sensex pack.
Jaiprakash Associates (up 2.49% to Rs 160.75), NTPC (up 0.91% to Rs
172), Hindalco Industries (up 0.64% to Rs 142) edged higher from
Sensex pack.
TV Today Network fell 4.09% to Rs 101.The board of TV Today Network
on Thursday approved proposal for buyback of shares. The maximum
buyback price has been set at Rs 115. The company has set aside a
maximum Rs 29.30 crore for buyback which is 10% of aggregate of
paid-up equity capital and free reserves of the company as on 31
March, 2008.
National Aluminium Company rose 0.11% to Rs 425.95. National
Aluminium Company (Nalco) on Thursday reported 17.6% growth in net
profit to Rs 525.33 crore on 22.9% growth in total income to Rs
1593.70 crore in Q1 June 2008 over Q1 June 2007.
Nestle India slipped 1.57% to Rs 1,607. Nestle India on Thursday
reported 26.5% growth in net profit to Rs 121.10 crore on 23.5%
growth in net sales to Rs 1035.60 crore in Q2 June 2008 over Q2
June 2007.
Ispat Industries rose 1.34% to Rs 26.40. Ispat Industries on
Thursday reported 243.2% growth in net profit to Rs 28.73 crore on
54.56% growth in total income to Rs 2875.78 crore in Q1 June 2008
over Q1 June 2007.
Mahanagar Telephone Nigam rose 0.96% to Rs 104.80. Net profit of
Mahanagar Telephone Nigam (MTNL) rose 15.15% to Rs 115.20 crore on
6% fall in sales to Rs 1121.65 crore in Q1 June 2008 over Q1 June
2007.
JSW Steel rose 1.44% to Rs 746.80. It will raise prices in August
2008 after an agreed three-month freeze lapses but expects margins
to remain under pressure on soaring input costs and a ceiling on
selling price, Sajjan Jindal, vice chairman and managing director
told a news conference on Thursday.
The company on Thursday reported 53% fall in net profit to Rs
219.35 crore in Q1 June 2008 over Q1 June 2007 due to forex loss of
Rs 362.78 crore on its overseas bonds due to fall in rupee against
the dollar.
Futures & options contracts for July 2008 series which expired
yesterday 31 July 2008, saw poor rollovers. As per reports, Nifty
rollover of positions from July 2008 series to August 2008 series
stood at 65.05% as compared to 70.07% in the previous series. Even
in single stock futures, rollovers were relatively muted at 79.19%
compared to 82.05% in the previous series.
sensitive banking and realty stocks lost as a some prominent banks
hiked their lending rates in line with recent tightening of
monetary policy by the Reserve Bank of India. Reliance
Communications (RCom) dipped more than 12% on disappointing Q1
results. Reliance Industries slipped. The market breadth was weak.
At 10:21 IST, the 30-share BSE Sensex was down 213.83 points or
1.494% at 14,141.25. At the day's low of 14,032.87, the Sensex lost
322.88 points in early trade.
The broader based S&P CNX Nifty was down 58.35 points or 1.35% at
4,274.60.
The market breadth was weak on BSE with 640 shares advancing as
compared to 892 that declined. 43 remained unchanged.
Among the 30-member Sensex pack, 24 declined while the rest gained.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) fell 1.05% to Rs 2,183.
Realty stocks fell. India's largest-listed realty firm, DLF
declined 4.31% to Rs 487.35. On Thursday it reported 23% growth in
consolidated net profit to Rs 1864 crore on 23.2% growth in total
revenue to Rs 3846 crore in Q1 June 2008 over Q1 June 2007. Unitech
(down 1.5% to Rs 161) and Indiabulls Real Estate (down 0.91% to Rs
283.95) edged lower.
HDFC Bank (down 2.92% to Rs 1,064) and State Bank of India (down
2.18% to Rs 1,382.20) edged lower.
India's largest private secor bank by net profit ICICI Bank
declined 1.09% to Rs 628. On Thursday it had hiked lending and
deposit rates. The bank has hiked floating reference rate (FRR) for
consumer loans, including home loans, by 75 basis points to 14.25%,
with effect immediate effect. ICICI Bank has raised its benchmark
advance rate by 75 basis points to 17.25%.
ICICI Bank has also raised interest rates on various tenors of
retail fixed deposits by 75 basis points to 100 basis points with
effect from 1 August 2008.
India's largest dedicated mortgage firm by operating income HDFC
fell 2.2% to Rs 2,226.50. On Thursday, 31 July 2008, HDFC said it
has hiked its floating interest rates on home loans for both
existing and new customers with effect from Friday, 1 August 2008.
HDFC has increased its retail prime lending rate (RPLR) on which
its Adjustable Rate Home Loans (ARHL) is benchmarked, by 75 basis
points with effect 1 August 2008. The increase in RPLR will affect
existing borrowers whose loans come up for re-pricing on or after 1
August 2008, it said.
For new home loan customers the ARHL loans will now be priced at a
minimum of 11.75% per annum while the fixed rates will be at 14.00%
per annum, HDFC said.
India's second largest telecom services provider by sales Reliance
Communications fell 12.41% to Rs 438. On Thursday it reported 23.9%
growth in consolidated net profit to Rs 1512 crore on 23.7% growth
in revenue to Rs 5322 crore in Q1 June 2008 over Q1 June 2007. This
is the slowest profit growth for the company in nine quarters.
The world's sixth largest steel maker Tata Steel rose 1.57% to Rs
665.20. On the back of higher prices and strong volume growth, Tata
Steel on Thursday reported 22% growth in net profit to Rs 1488
crore on 46% growth in net sales to Rs 6165 crore in Q1 June 2008
over Q1 June 2007. The company said the profitability was impacted
by an exchange loss of Rs 303.40 crore on its overseas bonds due to
fall in rupee against the dollar.
Reliance Infrastructure (down 1.82% to Rs 947.60), Ranbaxy
Laboratories (down 1.77% to Rs 490.25), Wipro (down 1.44% to Rs
410), ITC (down 1.49% to Rs 185), Maruti Suzuki India (down 1.69%
to Rs 565) edged lower from Sensex pack.
Jaiprakash Associates (up 2.49% to Rs 160.75), NTPC (up 0.91% to Rs
172), Hindalco Industries (up 0.64% to Rs 142) edged higher from
Sensex pack.
TV Today Network fell 4.09% to Rs 101.The board of TV Today Network
on Thursday approved proposal for buyback of shares. The maximum
buyback price has been set at Rs 115. The company has set aside a
maximum Rs 29.30 crore for buyback which is 10% of aggregate of
paid-up equity capital and free reserves of the company as on 31
March, 2008.
National Aluminium Company rose 0.11% to Rs 425.95. National
Aluminium Company (Nalco) on Thursday reported 17.6% growth in net
profit to Rs 525.33 crore on 22.9% growth in total income to Rs
1593.70 crore in Q1 June 2008 over Q1 June 2007.
Nestle India slipped 1.57% to Rs 1,607. Nestle India on Thursday
reported 26.5% growth in net profit to Rs 121.10 crore on 23.5%
growth in net sales to Rs 1035.60 crore in Q2 June 2008 over Q2
June 2007.
Ispat Industries rose 1.34% to Rs 26.40. Ispat Industries on
Thursday reported 243.2% growth in net profit to Rs 28.73 crore on
54.56% growth in total income to Rs 2875.78 crore in Q1 June 2008
over Q1 June 2007.
Mahanagar Telephone Nigam rose 0.96% to Rs 104.80. Net profit of
Mahanagar Telephone Nigam (MTNL) rose 15.15% to Rs 115.20 crore on
6% fall in sales to Rs 1121.65 crore in Q1 June 2008 over Q1 June
2007.
JSW Steel rose 1.44% to Rs 746.80. It will raise prices in August
2008 after an agreed three-month freeze lapses but expects margins
to remain under pressure on soaring input costs and a ceiling on
selling price, Sajjan Jindal, vice chairman and managing director
told a news conference on Thursday.
The company on Thursday reported 53% fall in net profit to Rs
219.35 crore in Q1 June 2008 over Q1 June 2007 due to forex loss of
Rs 362.78 crore on its overseas bonds due to fall in rupee against
the dollar.
Futures & options contracts for July 2008 series which expired
yesterday 31 July 2008, saw poor rollovers. As per reports, Nifty
rollover of positions from July 2008 series to August 2008 series
stood at 65.05% as compared to 70.07% in the previous series. Even
in single stock futures, rollovers were relatively muted at 79.19%
compared to 82.05% in the previous series.
Pre Market Report 01/08/2008
Local bourses are headed for weak start tracking a sell-off in global markets. Cues from the derivatives front were not encouraging either.
Futures & options contracts for July 2008 series which expired yesterday 31 July 2008, saw poor rollovers. As per reports, Nifty rollover of positions from July 2008 series to August 2008 series stood at 65.05% as compared to 70.07% in the previous series. Even in single stock futures, rollovers were relatively muted at 79.19% compared to 82.05% in the previous series.
US light crude for September delivery fell 83 cents to $123.25 a barrel yesterday, 31 July 2008, as sluggish US economic data prompted fund selling on fears of eroding demand in the world's biggest energy user.
Marketmen will be keenly watching the International Atomic Energy Agency (IAEA) meet, scheduled later today, 1 August 2008 to consider the India-specific safeguards agreement, which will be a key step for the operationalisation of the Indo-United States nuclear deal.
The wholesale price index rose 11.98% in the 12 months to 19 July 2008, above the previous week's reading of 11.89%, data released after market hours yesterday, 31 July 2008 showed.
In the near term, the market trend is likely to dictated by the progress of the monsoon and quarterly earnings from corporates.
Asian markets were trading weak today, 1 August 2008. China's Shanghai Composite was down 0.59% or 16.39 points at 2,759.32, Japan's Nikkei plunged 2.21% or 295.88 points at 13,080.93, Hong Kong's Hang Seng tumbled 1.54% or 351.15 points at 22,379.95, Taiwan's Taiwan Weighted fell 1.49% or 104.93 points at 6,919.13, Singapore's Straits Times slipped 1.23% or 36.08 points at 2,893.57, and South Korea's Seoul Composite declined 1.59% or 25.43 points at 1,569.24
US markets tumbled yesterday, 31 July 2008 after disappointing economic data dampened sentiment. Federal Reserve Chairman Alan Greenspan's statement that a slowing global economy may push the United States into recession and that US housing market crisis is nowhere near the bottom added to the bearish mood. The Dow plunged 205.67 points, or 1.78%, to 11,378.02. The Standard & Poor's 500 index declined 16.88 points, or 1.31%, to 1,267.38, while the Nasdaq lost 4.17 points, or 0.18%, to 2,325.55.
Back home, the key benchmark indices ending marginally higher yesterday, 31 July 2008 amidst volatility as futures & options contracts for July 2008 series expired. The 30-share BSE Sensex rose 68.54 points or 0.48% at 14,355.75 and the broader based S&P CNX Nifty was up 19.40 points or 0.45% to 4,332.95, on that day.
As per the provisional figures foreign institutional investors (FII)'s bought shares worth Rs 494.87 crore while domestic funds purchased shares worth Rs 320.57 crore yesterday 29 July 2008.
Futures & options contracts for July 2008 series which expired yesterday 31 July 2008, saw poor rollovers. As per reports, Nifty rollover of positions from July 2008 series to August 2008 series stood at 65.05% as compared to 70.07% in the previous series. Even in single stock futures, rollovers were relatively muted at 79.19% compared to 82.05% in the previous series.
US light crude for September delivery fell 83 cents to $123.25 a barrel yesterday, 31 July 2008, as sluggish US economic data prompted fund selling on fears of eroding demand in the world's biggest energy user.
Marketmen will be keenly watching the International Atomic Energy Agency (IAEA) meet, scheduled later today, 1 August 2008 to consider the India-specific safeguards agreement, which will be a key step for the operationalisation of the Indo-United States nuclear deal.
The wholesale price index rose 11.98% in the 12 months to 19 July 2008, above the previous week's reading of 11.89%, data released after market hours yesterday, 31 July 2008 showed.
In the near term, the market trend is likely to dictated by the progress of the monsoon and quarterly earnings from corporates.
Asian markets were trading weak today, 1 August 2008. China's Shanghai Composite was down 0.59% or 16.39 points at 2,759.32, Japan's Nikkei plunged 2.21% or 295.88 points at 13,080.93, Hong Kong's Hang Seng tumbled 1.54% or 351.15 points at 22,379.95, Taiwan's Taiwan Weighted fell 1.49% or 104.93 points at 6,919.13, Singapore's Straits Times slipped 1.23% or 36.08 points at 2,893.57, and South Korea's Seoul Composite declined 1.59% or 25.43 points at 1,569.24
US markets tumbled yesterday, 31 July 2008 after disappointing economic data dampened sentiment. Federal Reserve Chairman Alan Greenspan's statement that a slowing global economy may push the United States into recession and that US housing market crisis is nowhere near the bottom added to the bearish mood. The Dow plunged 205.67 points, or 1.78%, to 11,378.02. The Standard & Poor's 500 index declined 16.88 points, or 1.31%, to 1,267.38, while the Nasdaq lost 4.17 points, or 0.18%, to 2,325.55.
Back home, the key benchmark indices ending marginally higher yesterday, 31 July 2008 amidst volatility as futures & options contracts for July 2008 series expired. The 30-share BSE Sensex rose 68.54 points or 0.48% at 14,355.75 and the broader based S&P CNX Nifty was up 19.40 points or 0.45% to 4,332.95, on that day.
As per the provisional figures foreign institutional investors (FII)'s bought shares worth Rs 494.87 crore while domestic funds purchased shares worth Rs 320.57 crore yesterday 29 July 2008.
Wednesday, July 30, 2008
Market extends gains
The key benchmark indices hit fresh intra-day high in mid-morning
trade. The market had opened strong on positive global cues and due
to a further fall in crude oil prices. The barometer index BSE
Sensex had breached 14,000 mark in early trade.
Banking stocks bounced back from yesterday (29 July 2008)'s steep
fall. Metal, IT, realty and public sector oil marketing shares also
gained. Reliance Industries rose. Tata Steel and HDFC Bank rose
more than 5% each. The market breadth was strong as buying was
witnessed across the board.
New York's main contract, light sweet crude for September 2008
delivery slumped $2.54 to $122.19 a barrel on the New York
Mercantile Exchange yesterday, 29 July 2008.
At 11:21 IST The 30-share BSE Sensex was up 335.63 points or 2.43%
at 14,127.08. The index gained 337.72 points at the day's high of
14,129.26, hit in mid-morning trade. The index gained 210.65 at the
day's low of 14,002.19 at the onset of the trading session.
The broader based S&P CNX Nifty up 76.3 points or 1.82% at
4,266.15.
The BSE Mid-Cap index was rose 1.71% to 5,582.28 and the BSE
Small-Cap index was up 1.51% to 6,934.25.
The market breadth was strong on BSE with 1,601 shares advancing as
compared to 502 that declined. 52 remained unchanged.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries rose 1.66% to Rs 2,120.75.
Metal stocks rose. Tata Steel (up 5.13% to Rs 614.25), Steel
Authority of India (up 3.27% to Rs 135.60), Hindalco Industries (up
1.44% to Rs 141.25) and Sterlite Industries (up 0.89% to Rs 597.30)
edged higher.
Realty stocks gained. Indiabulls Real Estate (up 5.66% to Rs 279),
DLF (up 2% to Rs 481.35) and Unitech (up 1.5% to Rs 159.15) edged
higher.
Public sector oil marketing companies rose after fall in crude oil
prices. BPCL (up 3.53% to Rs 321), HPCL (up 1.15% to Rs 220.60) and
Indian Oil Corporation (up 2.45% to Rs 402) edged higher.
Bank stocks recovered from Tuesday's steep fall caused by further
monetary tightening by the Reserve Bank of India at its quarterly
policy review. HDFC Bank (up 4.97% to Rs 1,080.20), ICICI Bank (up
3.54% to Rs 628.90) and State Bank of India (up 2.97% to Rs
1,360.25) edged higher.
Satyam Computer Services (up 3.88% to Rs 383), Wipro (up 3.3% to Rs
416), HDFC (up 3.3% to Rs 2,175.15), Reliance Infrastructure (up
3.26% to Rs 938), Reliance Communications (up 3.14% to Rs 505.80)
were major gainers from Sensex pack.
Hindustan Unilever (down 1.05% to Rs 235.35) and ITC (down 0.65% to
Rs 188.70) edged lower from Sensex pack.
India's largest motorbike maker by sales Hero Honda Motor rose
3.38% to Rs 761. On Tuesday, the company reported 44% surge in
profit after tax to Rs 272.87 crore on 16% growth in turnover to Rs
2890.25 crore.
Power generation major NTPC fell 4.51% to Rs 170.15. On Tuesday, 29
July 2008, NTPC reported 27.1% fall in net to Rs 1726.53 crore on
5.87% growth in total income to Rs 10256.70 crore in Q1 June 2008
over Q1 June 2007.
Adhunik Metaliks rose 2.69% to Rs 110.90 after it approved merger/
amalgamation of Vedvyas Ispat and Sri. M P Ispat & Power with the
company.
US stocks surged overnight, benefiting from a steep drop in oil
prices and an unexpected rise in US consumer confidence after
Merrill Lynch's announcement of yet another write-down and
capital-raising exercise, raising hopes that the turning point in
the year-long credit crisis was close. The Dow Jones Industrial
Average rose 266.48 points, or 2.39 per cent, at 11,397.56, the
Standard & Poor's 500 Index gained 28.82 points, or 2.33 per cent,
at 1,263.19 and the Nasdaq Composite Index rose 55.40 points, or
2.45 per cent, at 2,319.62.
Asian markets were trading higher today, 30 July 2008. China's
Shanghai Composite, Japan's Nikkei, Hong Kong's Hang Seng, Taiwan's
Taiwan Weighted, Singapore's Straits Times and South Korea's Seoul
Composite were up by between 0.71% to 2.16%.
trade. The market had opened strong on positive global cues and due
to a further fall in crude oil prices. The barometer index BSE
Sensex had breached 14,000 mark in early trade.
Banking stocks bounced back from yesterday (29 July 2008)'s steep
fall. Metal, IT, realty and public sector oil marketing shares also
gained. Reliance Industries rose. Tata Steel and HDFC Bank rose
more than 5% each. The market breadth was strong as buying was
witnessed across the board.
New York's main contract, light sweet crude for September 2008
delivery slumped $2.54 to $122.19 a barrel on the New York
Mercantile Exchange yesterday, 29 July 2008.
At 11:21 IST The 30-share BSE Sensex was up 335.63 points or 2.43%
at 14,127.08. The index gained 337.72 points at the day's high of
14,129.26, hit in mid-morning trade. The index gained 210.65 at the
day's low of 14,002.19 at the onset of the trading session.
The broader based S&P CNX Nifty up 76.3 points or 1.82% at
4,266.15.
The BSE Mid-Cap index was rose 1.71% to 5,582.28 and the BSE
Small-Cap index was up 1.51% to 6,934.25.
The market breadth was strong on BSE with 1,601 shares advancing as
compared to 502 that declined. 52 remained unchanged.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries rose 1.66% to Rs 2,120.75.
Metal stocks rose. Tata Steel (up 5.13% to Rs 614.25), Steel
Authority of India (up 3.27% to Rs 135.60), Hindalco Industries (up
1.44% to Rs 141.25) and Sterlite Industries (up 0.89% to Rs 597.30)
edged higher.
Realty stocks gained. Indiabulls Real Estate (up 5.66% to Rs 279),
DLF (up 2% to Rs 481.35) and Unitech (up 1.5% to Rs 159.15) edged
higher.
Public sector oil marketing companies rose after fall in crude oil
prices. BPCL (up 3.53% to Rs 321), HPCL (up 1.15% to Rs 220.60) and
Indian Oil Corporation (up 2.45% to Rs 402) edged higher.
Bank stocks recovered from Tuesday's steep fall caused by further
monetary tightening by the Reserve Bank of India at its quarterly
policy review. HDFC Bank (up 4.97% to Rs 1,080.20), ICICI Bank (up
3.54% to Rs 628.90) and State Bank of India (up 2.97% to Rs
1,360.25) edged higher.
Satyam Computer Services (up 3.88% to Rs 383), Wipro (up 3.3% to Rs
416), HDFC (up 3.3% to Rs 2,175.15), Reliance Infrastructure (up
3.26% to Rs 938), Reliance Communications (up 3.14% to Rs 505.80)
were major gainers from Sensex pack.
Hindustan Unilever (down 1.05% to Rs 235.35) and ITC (down 0.65% to
Rs 188.70) edged lower from Sensex pack.
India's largest motorbike maker by sales Hero Honda Motor rose
3.38% to Rs 761. On Tuesday, the company reported 44% surge in
profit after tax to Rs 272.87 crore on 16% growth in turnover to Rs
2890.25 crore.
Power generation major NTPC fell 4.51% to Rs 170.15. On Tuesday, 29
July 2008, NTPC reported 27.1% fall in net to Rs 1726.53 crore on
5.87% growth in total income to Rs 10256.70 crore in Q1 June 2008
over Q1 June 2007.
Adhunik Metaliks rose 2.69% to Rs 110.90 after it approved merger/
amalgamation of Vedvyas Ispat and Sri. M P Ispat & Power with the
company.
US stocks surged overnight, benefiting from a steep drop in oil
prices and an unexpected rise in US consumer confidence after
Merrill Lynch's announcement of yet another write-down and
capital-raising exercise, raising hopes that the turning point in
the year-long credit crisis was close. The Dow Jones Industrial
Average rose 266.48 points, or 2.39 per cent, at 11,397.56, the
Standard & Poor's 500 Index gained 28.82 points, or 2.33 per cent,
at 1,263.19 and the Nasdaq Composite Index rose 55.40 points, or
2.45 per cent, at 2,319.62.
Asian markets were trading higher today, 30 July 2008. China's
Shanghai Composite, Japan's Nikkei, Hong Kong's Hang Seng, Taiwan's
Taiwan Weighted, Singapore's Straits Times and South Korea's Seoul
Composite were up by between 0.71% to 2.16%.
Sensex breaches 14,000 on positive global cues
The key benchmark indices opened strong on positive global cues and
due to a further fall in crude oil prices. The barometer index BSE
Sensex breached 14,000 mark. Banking stocks were major gainers
after yesterday (29 July 2008)'s steep fall. Reliance Industries
gained. The market breadth was strong.
New York's main contract, light sweet crude for September 2008
delivery slumped $2.54 to $122.19 a barrel on the New York
Mercantile Exchange yesterday, 29 July 2008.
US stocks surged overnight, benefiting from a steep drop in oil
prices and an unexpected rise in US consumer confidence after
Merrill Lynch's announcement of yet another write-down and
capital-raising exercise, raising hopes that the turning point in
the year-long credit crisis was close. The Dow Jones Industrial
Average rose 266.48 points, or 2.39 per cent, at 11,397.56, the
Standard & Poor's 500 Index gained 28.82 points, or 2.33 per cent,
at 1,263.19 and the Nasdaq Composite Index rose 55.40 points, or
2.45 per cent, at 2,319.62.
Asian markets were trading higher today, 30 July 2008. China's
Shanghai Composite, Japan's Nikkei, Hong Kong's Hang Seng, Taiwan's
Taiwan Weighted, Singapore's Straits Times and South Korea's Seoul
Composite were up by between 0.55% to 2.06%.
At 10:23 IST, the 30-share BSE Sensex was up 291.55 points or 2.11%
at 14,082.97. The index gained 305.06 points at the day's high of
14,096.60, hit in early trade.
The broader based S&P CNX Nifty up 69.65 points or 1.66% at
4,259.50.
The BSE Mid-Cap index was rose 1.68% to 5,580.65 and the BSE
Small-Cap index was up 1.31% to 6,920.71.
The market breadth was strong on BSE with 1,161 shares advancing as
compared to 290 that declined. 26 remained unchanged.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries rose 2.01% to Rs 2,127.10.
Bank stocks recovered from Tuesday's steep fall caused by further
monetary tightening by the Reserve Bank of India at its quarterly
policy review. HDFC Bank (up 5.84% to Rs 1,089), ICICI Bank (up
3.77% to Rs 630.30) and State Bank of India (up 1.82% to Rs
1,345.60) edged higher.
Reliance Infrastructure (up 3.73% to Rs 942), Tata Steel (up 3.47%
to Rs 604.60), Jaiprakash Associates (up 3.42% to Rs 156.70),
Bharat Heavy Electricals (up 2.82% to Rs 1,636), Ranbaxy
Laboratories (up 2.57% to Rs 487) were major gainers from Sensex
pack.
India's largest motorbike maker by sales Hero Honda Motor rose
3.38% to Rs 761. On Tuesday, the company reported 44% surge in
profit after tax to Rs 272.87 crore on 16% growth in turnover to Rs
2890.25 crore.
Power generation major NTPC fell 3.03% to Rs 173.05. On Tuesday, 29
July 2008, NTPC reported 27.1% fall in net to Rs 1726.53 crore on
5.87% growth in total income to Rs 10256.70 crore in Q1 June 2008
over Q1 June 2007.
Cairn India fell 1.62% to Rs 224.50. It has reported consolidated
net profit of Rs 138.58 crore in the quarter ended June 2008
compared to net loss of Rs 71.44 crore in the quarter ended June
2007. Total income rose 65.71% to Rs 461.43 crore in the quarter
ended June 2008 over the quarter ended June 2007.
Punj Lloyd surged 6.13% to Rs 25.25. It has reported 88% growth in
consolidated net profit to Rs 111.85 crore on 87.4% growth in total
income to Rs 2658.16 crore in Q1 June 2008 over Q1 June 2007. The
company said its current order book stands at a robust Rs 21162
crore.
Jet Airways rose 5.37% to Rs 457. Jet Airways' net profit jumped
364.31% to Rs 143.38 crore on 46.1% growth in total income to Rs
2899.15 crore in Q1 June 2008 over Q1 June 2007. The strong Q1
result was due to one-time benefit in the form of reversal in the
prior period excess depreciation of Rs 916 crore.
Ashok Leyland was flat at Rs 28.15. Ashok Leyland's net profit
declined 42.66% to Rs 50.56 crore on 16.4% growth in total income
to Rs 1896.02 crore in Q1 June 2008 over Q1 June 2007.
Omaxe rose 1.56% to Rs 117.40. Realty firm Omaxe's consolidated net
profit fell 22.7% to Rs 56.66 crore on 3.4% growth in total income
to Rs 354.38 crore in the quarter ended 308 June 2008 over the
quarter ended June 2007.
GVK Power & Infrastructure rose 3.93% to Rs 39.70. GVK Power &
Infrastructure's consolidated net profit rose 207.8% to Rs 40.55
crore on 38.8% growth in total income to Rs 141.37 crore in the
quarter ended 308 June 2008 over the quarter ended June 2007. IT
and research and development services firm MindTree said on Tuesday
it has completed the open offer to acquire equity stake in
Aztecsoft. The company said it now holds 79.9% in Aztecsoft.
MindTree rose 2.14% to Rs 368. MindTree said on Tuesday, it will
soon commence the process of merging Aztecsoft with the company.
The board of directors of New Delhi Television (NDTV) has approved
setting up of a new company for building infrastructure in the form
of studio, production facilities etc. wherein offshore subsidiaries
of NDTV will invest up to $ 50 million as cumulative convertible
preference shares or any other instrument as deemed appropriate.
due to a further fall in crude oil prices. The barometer index BSE
Sensex breached 14,000 mark. Banking stocks were major gainers
after yesterday (29 July 2008)'s steep fall. Reliance Industries
gained. The market breadth was strong.
New York's main contract, light sweet crude for September 2008
delivery slumped $2.54 to $122.19 a barrel on the New York
Mercantile Exchange yesterday, 29 July 2008.
US stocks surged overnight, benefiting from a steep drop in oil
prices and an unexpected rise in US consumer confidence after
Merrill Lynch's announcement of yet another write-down and
capital-raising exercise, raising hopes that the turning point in
the year-long credit crisis was close. The Dow Jones Industrial
Average rose 266.48 points, or 2.39 per cent, at 11,397.56, the
Standard & Poor's 500 Index gained 28.82 points, or 2.33 per cent,
at 1,263.19 and the Nasdaq Composite Index rose 55.40 points, or
2.45 per cent, at 2,319.62.
Asian markets were trading higher today, 30 July 2008. China's
Shanghai Composite, Japan's Nikkei, Hong Kong's Hang Seng, Taiwan's
Taiwan Weighted, Singapore's Straits Times and South Korea's Seoul
Composite were up by between 0.55% to 2.06%.
At 10:23 IST, the 30-share BSE Sensex was up 291.55 points or 2.11%
at 14,082.97. The index gained 305.06 points at the day's high of
14,096.60, hit in early trade.
The broader based S&P CNX Nifty up 69.65 points or 1.66% at
4,259.50.
The BSE Mid-Cap index was rose 1.68% to 5,580.65 and the BSE
Small-Cap index was up 1.31% to 6,920.71.
The market breadth was strong on BSE with 1,161 shares advancing as
compared to 290 that declined. 26 remained unchanged.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries rose 2.01% to Rs 2,127.10.
Bank stocks recovered from Tuesday's steep fall caused by further
monetary tightening by the Reserve Bank of India at its quarterly
policy review. HDFC Bank (up 5.84% to Rs 1,089), ICICI Bank (up
3.77% to Rs 630.30) and State Bank of India (up 1.82% to Rs
1,345.60) edged higher.
Reliance Infrastructure (up 3.73% to Rs 942), Tata Steel (up 3.47%
to Rs 604.60), Jaiprakash Associates (up 3.42% to Rs 156.70),
Bharat Heavy Electricals (up 2.82% to Rs 1,636), Ranbaxy
Laboratories (up 2.57% to Rs 487) were major gainers from Sensex
pack.
India's largest motorbike maker by sales Hero Honda Motor rose
3.38% to Rs 761. On Tuesday, the company reported 44% surge in
profit after tax to Rs 272.87 crore on 16% growth in turnover to Rs
2890.25 crore.
Power generation major NTPC fell 3.03% to Rs 173.05. On Tuesday, 29
July 2008, NTPC reported 27.1% fall in net to Rs 1726.53 crore on
5.87% growth in total income to Rs 10256.70 crore in Q1 June 2008
over Q1 June 2007.
Cairn India fell 1.62% to Rs 224.50. It has reported consolidated
net profit of Rs 138.58 crore in the quarter ended June 2008
compared to net loss of Rs 71.44 crore in the quarter ended June
2007. Total income rose 65.71% to Rs 461.43 crore in the quarter
ended June 2008 over the quarter ended June 2007.
Punj Lloyd surged 6.13% to Rs 25.25. It has reported 88% growth in
consolidated net profit to Rs 111.85 crore on 87.4% growth in total
income to Rs 2658.16 crore in Q1 June 2008 over Q1 June 2007. The
company said its current order book stands at a robust Rs 21162
crore.
Jet Airways rose 5.37% to Rs 457. Jet Airways' net profit jumped
364.31% to Rs 143.38 crore on 46.1% growth in total income to Rs
2899.15 crore in Q1 June 2008 over Q1 June 2007. The strong Q1
result was due to one-time benefit in the form of reversal in the
prior period excess depreciation of Rs 916 crore.
Ashok Leyland was flat at Rs 28.15. Ashok Leyland's net profit
declined 42.66% to Rs 50.56 crore on 16.4% growth in total income
to Rs 1896.02 crore in Q1 June 2008 over Q1 June 2007.
Omaxe rose 1.56% to Rs 117.40. Realty firm Omaxe's consolidated net
profit fell 22.7% to Rs 56.66 crore on 3.4% growth in total income
to Rs 354.38 crore in the quarter ended 308 June 2008 over the
quarter ended June 2007.
GVK Power & Infrastructure rose 3.93% to Rs 39.70. GVK Power &
Infrastructure's consolidated net profit rose 207.8% to Rs 40.55
crore on 38.8% growth in total income to Rs 141.37 crore in the
quarter ended 308 June 2008 over the quarter ended June 2007. IT
and research and development services firm MindTree said on Tuesday
it has completed the open offer to acquire equity stake in
Aztecsoft. The company said it now holds 79.9% in Aztecsoft.
MindTree rose 2.14% to Rs 368. MindTree said on Tuesday, it will
soon commence the process of merging Aztecsoft with the company.
The board of directors of New Delhi Television (NDTV) has approved
setting up of a new company for building infrastructure in the form
of studio, production facilities etc. wherein offshore subsidiaries
of NDTV will invest up to $ 50 million as cumulative convertible
preference shares or any other instrument as deemed appropriate.
Pre Market Report 30/07/2008
Strong global cues and a fall in crude oil prices below $122 per barrel may trigger a strong opening in early trade today, 30 July 2008. New York's main contract, light sweet crude for September delivery slumped $2.54 to $122.19 a barrel on the New York Mercantile Exchange yesterday, 29 July 2008.
In the near term, the market trend is likely to dictated by slew of events like expiry of futures & options contracts on Thursday, 31 July 2008. Besides, the progress of the monsoon and corporates quarterly numbers will also be keenly watched.
Among the frontline companies, Mahindra & Mahindra, Tata Motors, Suzlon Energy, Unitech and ITC will declare their June 2008 quarterly results.
Volatility may remain high ahead of the expiry of futures & options contracts for July 2008 series on Thursday, 31 July 2008. As per reports, marketwide rollover of positions from July 2008 series to August 2008 series stood at 44%, while that of Nifty was 48%, as of Tuesday 29 July 2008.
Asian markets were trading higher today, 30 July 2008. China's Shanghai Composite rose 0.55% or 15.72 points at 2,866.03, Japan's Nikkei gained 1.19% or 156.26 points at 13,315.71, Hong Kong's Hang Seng added 1.66% or 369.18 points at 22,627.18, Taiwan's Taiwan Weighted advanced 0.64% or 44.83 points at 7,059.30, Singapore's Straits Times was up 1.01% or 29.11 points at 2,915.67 and South Korea's Seoul Composite surged 0.65% or 10.20 points at 1,577.40
Wall Street shares surged overnight, benefiting from a steep drop in oil prices and an unexpected rise in US consumer confidence after Merrill Lynch's announcement of yet another write-down and capital-raising exercise raising hopes that the turning point in the yearlong credit crisis was close.
The Dow Jones Industrial Average rose 266.48 points, or 2.39 per cent, at 11,397.56, the Standard & Poor's 500 Index gained 28.82 points, or 2.33 per cent, at 1,263.19 and the Nasdaq Composite Index rose 55.40 points, or 2.45 per cent, at 2,319.62.
Back home, the key benchmark indices slumped sharply yesterday, 29 July 2008 after the Reserve Bank of India (RBI) raised cash reserve ratio (CRR) by 25 basis points and repo rate by 50 basis points at quarterly review of the monetary policy. The 30 share BSE Sensex plunged 557.57 points or 3.89% at 13,791.54 and the broader based S&P CNX Nifty was down 142.25 points or 3.28% at 4,189.85, on that day.
The barometer index BSE Sensex is down 6,495.45 points or 32.01% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 7,415.23 points or 34.96% away from its all-time high of 21,206.77 struck on 10 January 2008.
As per the provisional figures foreign institutional investors (FII)'s sold shares worth Rs 538.27 crore while domestic funds sold shares worth Rs 254.59 crore yesterday 29 July 2008.
Foreign institutional investors (FIIs) were net sellers of Rs 1939.47 crore in the futures & options segment on 28 July 2008. They were net sellers of index futures to the tune of Rs 1166.31 crore and bought index options worth Rs 81.46 crore. They were net sellers of stock futures to the tune of Rs 883.85 crore and purchased stock options worth Rs 29.22 crore.
The Reserve Bank of India (RBI) yesterday 29 July 2008, raised repo rate by 50 basis points to a seven-year high of 9% to curb inflation, now running close to 12%, and dampen inflationary expectations. The RBI also raised the cash reserve ratio (CRR), the proportion of funds that banks must keep on deposit with it, by 25 basis points to 9%. The central bank left its reverse repo and bank rates unchanged. The tone of the monetary policy was extremely hawkish.
In the near term, the market trend is likely to dictated by slew of events like expiry of futures & options contracts on Thursday, 31 July 2008. Besides, the progress of the monsoon and corporates quarterly numbers will also be keenly watched.
Among the frontline companies, Mahindra & Mahindra, Tata Motors, Suzlon Energy, Unitech and ITC will declare their June 2008 quarterly results.
Volatility may remain high ahead of the expiry of futures & options contracts for July 2008 series on Thursday, 31 July 2008. As per reports, marketwide rollover of positions from July 2008 series to August 2008 series stood at 44%, while that of Nifty was 48%, as of Tuesday 29 July 2008.
Asian markets were trading higher today, 30 July 2008. China's Shanghai Composite rose 0.55% or 15.72 points at 2,866.03, Japan's Nikkei gained 1.19% or 156.26 points at 13,315.71, Hong Kong's Hang Seng added 1.66% or 369.18 points at 22,627.18, Taiwan's Taiwan Weighted advanced 0.64% or 44.83 points at 7,059.30, Singapore's Straits Times was up 1.01% or 29.11 points at 2,915.67 and South Korea's Seoul Composite surged 0.65% or 10.20 points at 1,577.40
Wall Street shares surged overnight, benefiting from a steep drop in oil prices and an unexpected rise in US consumer confidence after Merrill Lynch's announcement of yet another write-down and capital-raising exercise raising hopes that the turning point in the yearlong credit crisis was close.
The Dow Jones Industrial Average rose 266.48 points, or 2.39 per cent, at 11,397.56, the Standard & Poor's 500 Index gained 28.82 points, or 2.33 per cent, at 1,263.19 and the Nasdaq Composite Index rose 55.40 points, or 2.45 per cent, at 2,319.62.
Back home, the key benchmark indices slumped sharply yesterday, 29 July 2008 after the Reserve Bank of India (RBI) raised cash reserve ratio (CRR) by 25 basis points and repo rate by 50 basis points at quarterly review of the monetary policy. The 30 share BSE Sensex plunged 557.57 points or 3.89% at 13,791.54 and the broader based S&P CNX Nifty was down 142.25 points or 3.28% at 4,189.85, on that day.
The barometer index BSE Sensex is down 6,495.45 points or 32.01% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 7,415.23 points or 34.96% away from its all-time high of 21,206.77 struck on 10 January 2008.
As per the provisional figures foreign institutional investors (FII)'s sold shares worth Rs 538.27 crore while domestic funds sold shares worth Rs 254.59 crore yesterday 29 July 2008.
Foreign institutional investors (FIIs) were net sellers of Rs 1939.47 crore in the futures & options segment on 28 July 2008. They were net sellers of index futures to the tune of Rs 1166.31 crore and bought index options worth Rs 81.46 crore. They were net sellers of stock futures to the tune of Rs 883.85 crore and purchased stock options worth Rs 29.22 crore.
The Reserve Bank of India (RBI) yesterday 29 July 2008, raised repo rate by 50 basis points to a seven-year high of 9% to curb inflation, now running close to 12%, and dampen inflationary expectations. The RBI also raised the cash reserve ratio (CRR), the proportion of funds that banks must keep on deposit with it, by 25 basis points to 9%. The central bank left its reverse repo and bank rates unchanged. The tone of the monetary policy was extremely hawkish.
Tuesday, July 29, 2008
IPO Listing - Birla Cotsyn (India) Ltd
Birla Cotsyn (India) Ltd IPO Listing Info
IPO Listing Date: Wednesday, July 30, 2008
BSE Script Code: 533006
NSE Symbol: BIRLACOT
Listing in: 'B' Group of Securities
ISIN: INE655I01016
Issue Price: Rs 14/-
Face Value: Rs 10/- Per Equity Share
IPO Listing Date: Wednesday, July 30, 2008
BSE Script Code: 533006
NSE Symbol: BIRLACOT
Listing in: 'B' Group of Securities
ISIN: INE655I01016
Issue Price: Rs 14/-
Face Value: Rs 10/- Per Equity Share
Post Market Report:29/07/2008
The key benchmark indices which had posted marginal gains
yesterday, 28 June 2008, ahead of monetary policy slumped sharply
after the Reserve Bank of India (RBI) today, 29 July 2008, raised
cash reserve ratio (CRR) by 25 basis points and repo rate by 50
basis points at quarterly review of the monetary policy. Sensex
lost more than 620 points at the lowest level of the day hit in
mid-afternoon trade. Weak global markets also weighed on the Indian
bourses.
Rate sensitive banking, realty and auto stocks tumbled. ICICI Bank
and HDFC Bank fell more than 8.5% each. Reliance Infrastructure and
Maruti Suzuki India slipped more than 7% each. Reliance Industries
dropped. The market breadth was weak as selling was witnessed
across the board. Except BSE FMCG index all the sectoral indices on
BSE declined.
Reserve Bank of India (RBI) today, 29 July 2008, raised repo rate
by 50 basis points to a seven-year high of 9% to curb inflation,
now running close to 12%, and dampen inflationary expectations. RBI
also raised the cash reserve ratio (CRR), the proportion of funds
that banks must keep on deposit with it, by 25 basis points to 9%.
The central bank left its reverse repo and bank rates unchanged.
The tone of the monetary policy was extremely hawkish
The 30 share BSE Sensex plunged 557.57 points or 3.89% at
13,791.54. The index lost 621.97 points at the day's low of
13,727.14, hit in mid-afternoon trade. At the day's high of
14,152.29, Sensex lost 196.82 points in mid-morning trade.
The broader based S&P CNX Nifty was down 142.25 points or 3.28% at
4,189.85. Nifty July 2008 futures were at 4194, at a premium of
4.15 points as compared to spot closing of 4189.85.
The barometer index BSE Sensex is down 6,495.45 points or 32.01% in
the calendar year 2008 so far from its close of 20,286.99 on 31
December 2007. It is 7,415.23 points or 34.96% away from its
all-time high of 21,206.77 struck on 10 January 2008.
The BSE clocked a turnover of Rs 5,085 crore today, 29 July 2008,
higher than Rs 4,632.42 crore on Monday, 28 July 2008. NSE's
futures & options (F&O) segment turnover was Rs 64,804.21 crore,
which was higher than Rs 45,000.90 crore on Monday, 28 July 2008.
July 2008 derivatives contracts will expire on Thursday, 31 July
2008.
The BSE Mid-Cap index was down 2.53% to 5,488.58 and the BSE
Small-Cap index was down 1.19% to 6,831.01.
The market breadth was weak on BSE with 963 shares advancing as
compared to 1,672 that declined. 72 remained unchanged.
BSE Bankex (down 8.31% to 6,199.60), BSE Realty index (down 5.54%
to 4,797.71), BSE Capital Goods index (down 4.92% to 11,320.60),
BSE Power index (down 4.11% to 2,473.81), Auto index (down 4.04% to
3,573.21) underperformed Sensex.
BSE FMCG index (up 0.05% to 2,136.28), BSE IT index (down 0.51% to
3,588.87), BSE Consumer Durables index (down 1.07% to 3,621.63),
BSE Teck index (down 1.59% to 2,934.35), BSE HealthCare (down 1.65%
to 4,133.34), BSE Metal index (down 1.91% to 12,130.36),BSE PSU
index (down 3.12% to 6,514.79), BSE Oil & Gas (down 3.62% to
9,303.57) outperformed Sensex.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries fell 4.31% to Rs 2,085.20 .
Capital goods stocks declined. Larsen & Toubro (down 6.52% to Rs
2,546.10), Bharat Heavy Electricals (down 3.43% to Rs 1,592.10) and
Suzlon Energy (down 0.77% to Rs 212.10) edged lower.
Power stocks fell. NTPC (down 3.44% to Rs 178.45), PowerGrid
Corporation of India (down 3.72% to Rs 94.45), Reliance
Infrastructure (down 7.99% to Rs 908.15), Reliance Power (down
8.89% to Rs 154.15) and Tata Power Company (down 0.79% to Rs
1,043.30) edged lower.
Rate sensitive auto stocks fell. Tata Motors (down 6.84% to Rs
396.80), Maruti Suzuki India (down 7.03% to Rs 567.65), Mahindra &
Mahindra (down 5.54% to Rs 500.20), Hero Honda Motors (down 4.23%
to Rs 728.15) edged lower.
Rate sensitive realty stocks slipped. Indiabulls Real Estate (down
7.98% to Rs 264.05), DLF (down 5.82% to Rs 471.90) and Unitech
(down 6.5% to Rs 156.80) edged lower.
Banking stocks fell. ICICI Bank (down 8.45% to Rs 607.40), State
Bank of India (down 6.84% to Rs 1,321) and HDFC Bank (down 8.71% to
Rs 1,028.90) edged lower. India's largest dedicated mortgage firm
by operating income HDFC fell 5.21% to Rs 2,105.65.
Jaiprakash Associates (down 5.1% to Rs 153.45), Hindalco Industries
(down 4.72% to Rs 139.25), Reliance Communications (down 4.27% to
Rs 490.40) edged lower from Sensex pack.
Infosys (up 0.06% to Rs 1,539.90) and Tata Consultancy Services (up
0.27% to Rs 808.35) edged higher.
India's largest state run oil exploration firm by sales ONGC
declined 3.02% to Rs 981.90. ONGC on Monday, 28 July 2008, reported
44% surge in net profit to Rs 6636 crore on 47% growth in turnover
to Rs 20,123 crore in Q1 June 2008 over Q1 June 2007. The company
attributed the strong performance to higher price realization on
crude oil and cost management.
India's largest drug maker by sales Ranbaxy Laboratories fell 3.84%
to Rs 474.80 after the company reported 0.25% rise in consolidated
net profit to Rs 160.80 crore on 13% rise in consolidated sales to
Rs 1829.60 crore in Q2 June 2008 over Q2 June 2008.
Reliance Natural Resources clocked the highest volume of 1.97 crore
shares on BSE. Himachal Futuristic Communications (1.51 crore
shares), IFCI (1.27 crore shares), Ispat Industries (97.05 lakh
shares), Polaris Lab (83.34 lakh shares) were other volume toppers
in that order.
Reliance Capital clocked the highest turnover of Rs 313.40 crore on
BSE. Larsen & Toubro (Rs 223.37 crore), Reliance Industries (Rs
222.27 crore), ICICI Bank (Rs 193.96 crore) and Reliance Natural
Resources (Rs 178.23 crore) were other turnover toppers in that
order.
In the near term, the market trend is likely to dictated by slew of
events like expiry of futures & options contracts on Thursday, 31
July 2008. Besides, the progress of the monsoon and corporates
quarterly numbers will also be keenly watched.
Volatility may remain high ahead of the expiry of futures & options
contracts for July 2008 series on Thursday, 31 July 2008. As per
reports, marketwide rollover of positions from July 2008 series to
August 2008 series stood at 30%, while that of Nifty was 35%, as of
Monday 28 July 2008.
US stocks tumbled on Monday, 28 July 2008, as news that federal
regulators seized two more failed US banks late last week triggered
a sharp sell-off in financial shares. The Dow Jones industrial
average lost 239.61 points, or 2.11%, to 11,131.08. The Nasdaq
composite index declined 46.31 points, or 2%, to 2,264.22. The S&P
500 index fell 23.39 points, or 1.86%, to 1,234.37.
Asian markets which opened before Indian market were weak. China's
Shanghai Composite, Japan's Nikkei, Hong Kong's Hang Seng, Taiwan's
Taiwan Weighted, Singapore's Straits Times and South Korea's Seoul
Composite were down by between 1.19% to 3.03%.
European markets which opened after Indian markets were mixed after
weak start. France's CAC 40 and Germany's DAX were down by between
0.76% to 1.14%. UK's FTSE 100 rose 0.18%.
US crude gained $1.47 to settle at $124.73 a barrel yesterday, 28
July 2008 after militant attacks slashed Nigerian oil production
and Iran stirred geopolitical tensions by suggesting it was rapidly
expanding its nuclear program.
yesterday, 28 June 2008, ahead of monetary policy slumped sharply
after the Reserve Bank of India (RBI) today, 29 July 2008, raised
cash reserve ratio (CRR) by 25 basis points and repo rate by 50
basis points at quarterly review of the monetary policy. Sensex
lost more than 620 points at the lowest level of the day hit in
mid-afternoon trade. Weak global markets also weighed on the Indian
bourses.
Rate sensitive banking, realty and auto stocks tumbled. ICICI Bank
and HDFC Bank fell more than 8.5% each. Reliance Infrastructure and
Maruti Suzuki India slipped more than 7% each. Reliance Industries
dropped. The market breadth was weak as selling was witnessed
across the board. Except BSE FMCG index all the sectoral indices on
BSE declined.
Reserve Bank of India (RBI) today, 29 July 2008, raised repo rate
by 50 basis points to a seven-year high of 9% to curb inflation,
now running close to 12%, and dampen inflationary expectations. RBI
also raised the cash reserve ratio (CRR), the proportion of funds
that banks must keep on deposit with it, by 25 basis points to 9%.
The central bank left its reverse repo and bank rates unchanged.
The tone of the monetary policy was extremely hawkish
The 30 share BSE Sensex plunged 557.57 points or 3.89% at
13,791.54. The index lost 621.97 points at the day's low of
13,727.14, hit in mid-afternoon trade. At the day's high of
14,152.29, Sensex lost 196.82 points in mid-morning trade.
The broader based S&P CNX Nifty was down 142.25 points or 3.28% at
4,189.85. Nifty July 2008 futures were at 4194, at a premium of
4.15 points as compared to spot closing of 4189.85.
The barometer index BSE Sensex is down 6,495.45 points or 32.01% in
the calendar year 2008 so far from its close of 20,286.99 on 31
December 2007. It is 7,415.23 points or 34.96% away from its
all-time high of 21,206.77 struck on 10 January 2008.
The BSE clocked a turnover of Rs 5,085 crore today, 29 July 2008,
higher than Rs 4,632.42 crore on Monday, 28 July 2008. NSE's
futures & options (F&O) segment turnover was Rs 64,804.21 crore,
which was higher than Rs 45,000.90 crore on Monday, 28 July 2008.
July 2008 derivatives contracts will expire on Thursday, 31 July
2008.
The BSE Mid-Cap index was down 2.53% to 5,488.58 and the BSE
Small-Cap index was down 1.19% to 6,831.01.
The market breadth was weak on BSE with 963 shares advancing as
compared to 1,672 that declined. 72 remained unchanged.
BSE Bankex (down 8.31% to 6,199.60), BSE Realty index (down 5.54%
to 4,797.71), BSE Capital Goods index (down 4.92% to 11,320.60),
BSE Power index (down 4.11% to 2,473.81), Auto index (down 4.04% to
3,573.21) underperformed Sensex.
BSE FMCG index (up 0.05% to 2,136.28), BSE IT index (down 0.51% to
3,588.87), BSE Consumer Durables index (down 1.07% to 3,621.63),
BSE Teck index (down 1.59% to 2,934.35), BSE HealthCare (down 1.65%
to 4,133.34), BSE Metal index (down 1.91% to 12,130.36),BSE PSU
index (down 3.12% to 6,514.79), BSE Oil & Gas (down 3.62% to
9,303.57) outperformed Sensex.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries fell 4.31% to Rs 2,085.20 .
Capital goods stocks declined. Larsen & Toubro (down 6.52% to Rs
2,546.10), Bharat Heavy Electricals (down 3.43% to Rs 1,592.10) and
Suzlon Energy (down 0.77% to Rs 212.10) edged lower.
Power stocks fell. NTPC (down 3.44% to Rs 178.45), PowerGrid
Corporation of India (down 3.72% to Rs 94.45), Reliance
Infrastructure (down 7.99% to Rs 908.15), Reliance Power (down
8.89% to Rs 154.15) and Tata Power Company (down 0.79% to Rs
1,043.30) edged lower.
Rate sensitive auto stocks fell. Tata Motors (down 6.84% to Rs
396.80), Maruti Suzuki India (down 7.03% to Rs 567.65), Mahindra &
Mahindra (down 5.54% to Rs 500.20), Hero Honda Motors (down 4.23%
to Rs 728.15) edged lower.
Rate sensitive realty stocks slipped. Indiabulls Real Estate (down
7.98% to Rs 264.05), DLF (down 5.82% to Rs 471.90) and Unitech
(down 6.5% to Rs 156.80) edged lower.
Banking stocks fell. ICICI Bank (down 8.45% to Rs 607.40), State
Bank of India (down 6.84% to Rs 1,321) and HDFC Bank (down 8.71% to
Rs 1,028.90) edged lower. India's largest dedicated mortgage firm
by operating income HDFC fell 5.21% to Rs 2,105.65.
Jaiprakash Associates (down 5.1% to Rs 153.45), Hindalco Industries
(down 4.72% to Rs 139.25), Reliance Communications (down 4.27% to
Rs 490.40) edged lower from Sensex pack.
Infosys (up 0.06% to Rs 1,539.90) and Tata Consultancy Services (up
0.27% to Rs 808.35) edged higher.
India's largest state run oil exploration firm by sales ONGC
declined 3.02% to Rs 981.90. ONGC on Monday, 28 July 2008, reported
44% surge in net profit to Rs 6636 crore on 47% growth in turnover
to Rs 20,123 crore in Q1 June 2008 over Q1 June 2007. The company
attributed the strong performance to higher price realization on
crude oil and cost management.
India's largest drug maker by sales Ranbaxy Laboratories fell 3.84%
to Rs 474.80 after the company reported 0.25% rise in consolidated
net profit to Rs 160.80 crore on 13% rise in consolidated sales to
Rs 1829.60 crore in Q2 June 2008 over Q2 June 2008.
Reliance Natural Resources clocked the highest volume of 1.97 crore
shares on BSE. Himachal Futuristic Communications (1.51 crore
shares), IFCI (1.27 crore shares), Ispat Industries (97.05 lakh
shares), Polaris Lab (83.34 lakh shares) were other volume toppers
in that order.
Reliance Capital clocked the highest turnover of Rs 313.40 crore on
BSE. Larsen & Toubro (Rs 223.37 crore), Reliance Industries (Rs
222.27 crore), ICICI Bank (Rs 193.96 crore) and Reliance Natural
Resources (Rs 178.23 crore) were other turnover toppers in that
order.
In the near term, the market trend is likely to dictated by slew of
events like expiry of futures & options contracts on Thursday, 31
July 2008. Besides, the progress of the monsoon and corporates
quarterly numbers will also be keenly watched.
Volatility may remain high ahead of the expiry of futures & options
contracts for July 2008 series on Thursday, 31 July 2008. As per
reports, marketwide rollover of positions from July 2008 series to
August 2008 series stood at 30%, while that of Nifty was 35%, as of
Monday 28 July 2008.
US stocks tumbled on Monday, 28 July 2008, as news that federal
regulators seized two more failed US banks late last week triggered
a sharp sell-off in financial shares. The Dow Jones industrial
average lost 239.61 points, or 2.11%, to 11,131.08. The Nasdaq
composite index declined 46.31 points, or 2%, to 2,264.22. The S&P
500 index fell 23.39 points, or 1.86%, to 1,234.37.
Asian markets which opened before Indian market were weak. China's
Shanghai Composite, Japan's Nikkei, Hong Kong's Hang Seng, Taiwan's
Taiwan Weighted, Singapore's Straits Times and South Korea's Seoul
Composite were down by between 1.19% to 3.03%.
European markets which opened after Indian markets were mixed after
weak start. France's CAC 40 and Germany's DAX were down by between
0.76% to 1.14%. UK's FTSE 100 rose 0.18%.
US crude gained $1.47 to settle at $124.73 a barrel yesterday, 28
July 2008 after militant attacks slashed Nigerian oil production
and Iran stirred geopolitical tensions by suggesting it was rapidly
expanding its nuclear program.
Pre Market Report 29/07/2008
Key benchmark indices are set to extend losses for third straight day today, 29 July 2008 tracking negative global cues. However the crucial Reserve Bank of India (RBI)'s monetary policy review scheduled at noon today, 29 July 2008, will provide the irection to the market in second half.
Marketmen opine that RBI may further hike short-term interest rates or the repo rate as well as statutory deposit requirements or the cash reserve ratio (CRR). RBI had increased short-term lending rates for banks and CRR by 0.5% each on 24 June 2008 to control surging inflation.
In the near term, the market trend is likely to dictated by slew of events like expiry of futures & options contracts on Thursday, 31 July 2008. Besides, the progress of the monsoon and corporates quarterly numbers will also be keenly watched.
Volatility may remain high ahead of the expiry of futures & options contracts for July 2008 series on Thursday, 31 July 2008. As per reports, marketwide rollover of positions from July 2008 series to August 2008 series stood at 30%, while that of Nifty was 35%, as of Monday 28 July 2008.
US crude gained $1.47 to settle at $124.73 a barrel yesterday, 28 July 2008 after militant attacks slashed Nigerian oil production and Iran stirred geopolitical tensions by suggesting it was rapidly expanding its nuclear program.
Foreign brokerage house Goldman Sachs reduced India's growth forecast for fiscal year 2010 to 7.2% from 8.2% earlier due to a weak investment outlook on account of rising interest rates. However, the growth forecast for FY09 remains unchanged at 7.8%.
Goldman Sachs also raised its inflation forecast for both FY09 and FY10. For FY09, the forecast has been raised to 11.5% from 10% earlier, while for FY10 it has been increased to 5.3% from 4.7% earlier.
Asian markets were trading lower today, 29 July 2008. China's Shanghai Composite fell 1.74% or 50.51 points at 2,852.50, Japan's Nikkei plunged 2.15% or 287.34 points at 13,066.44, Hong Kong's Hang Seng lost 2.57% or 582.88 points at 22,104.33, Taiwan's Taiwan Weighted declined 3.76% or 271.79 points at 6,961.83, Singapore's Straits Times was down 1.50% or 43.66 points at 2,866.70, South Korea's Seoul Composite slipped 3.19% or 50.94 points at 1,547.35.
US markets tumbled yesterday, 28 July 2008 led by financials after investment bank Merill Lynch said it will take a 5.7 billion dollar write-down in Q3. The International Monetary Fund's warned that worsening credit conditions may prolong the economic slowdown added to the bearish sentiment. The IMF stood by its April forecast for about $1 trillion in losses stemming from the US mortgage crisis.
The Dow Jones industrial average lost 239.61 points, or 2.11%, to 11,131.08. The Nasdaq composite index declined 46.31 points, or 2%, to 2,264.22. The S&P 500 index fell 23.39 points, or 1.86%, to 1,234.37.
Back home, the 30-share BSE Sensex gained 74.17 points or 0.52% higher at 14,349.11and the broader based S&P CNX Nifty rose 20.25 points or 0.47% at 4,332.10, yesterday, 28 July 2008. The barometer index BSE Sensex is down 5,937.88 points or 29.26% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6,857.66 points or 32.33% away from its all-time high of 21,206.77 struck on 10 January 2008.
As per the provisional figures foreign institutional investors (FII)'s sold shares worth Rs 721.90 crore while domestic funds bought shares worth Rs 456.67 crore yesterday 28 July 2008.
Foreign institutional investors (FIIs) were net sellers of Rs 1939.47 crore in the futures & options segment on 28 July 2008. They were net sellers of index futures to the tune of Rs 1166.31 crore and bought index options worth Rs 81.46 crore. They were net sellers of stock futures to the tune of Rs 883.85 crore and purchased stock options worth Rs 29.22 crore.
Marketmen opine that RBI may further hike short-term interest rates or the repo rate as well as statutory deposit requirements or the cash reserve ratio (CRR). RBI had increased short-term lending rates for banks and CRR by 0.5% each on 24 June 2008 to control surging inflation.
In the near term, the market trend is likely to dictated by slew of events like expiry of futures & options contracts on Thursday, 31 July 2008. Besides, the progress of the monsoon and corporates quarterly numbers will also be keenly watched.
Volatility may remain high ahead of the expiry of futures & options contracts for July 2008 series on Thursday, 31 July 2008. As per reports, marketwide rollover of positions from July 2008 series to August 2008 series stood at 30%, while that of Nifty was 35%, as of Monday 28 July 2008.
US crude gained $1.47 to settle at $124.73 a barrel yesterday, 28 July 2008 after militant attacks slashed Nigerian oil production and Iran stirred geopolitical tensions by suggesting it was rapidly expanding its nuclear program.
Foreign brokerage house Goldman Sachs reduced India's growth forecast for fiscal year 2010 to 7.2% from 8.2% earlier due to a weak investment outlook on account of rising interest rates. However, the growth forecast for FY09 remains unchanged at 7.8%.
Goldman Sachs also raised its inflation forecast for both FY09 and FY10. For FY09, the forecast has been raised to 11.5% from 10% earlier, while for FY10 it has been increased to 5.3% from 4.7% earlier.
Asian markets were trading lower today, 29 July 2008. China's Shanghai Composite fell 1.74% or 50.51 points at 2,852.50, Japan's Nikkei plunged 2.15% or 287.34 points at 13,066.44, Hong Kong's Hang Seng lost 2.57% or 582.88 points at 22,104.33, Taiwan's Taiwan Weighted declined 3.76% or 271.79 points at 6,961.83, Singapore's Straits Times was down 1.50% or 43.66 points at 2,866.70, South Korea's Seoul Composite slipped 3.19% or 50.94 points at 1,547.35.
US markets tumbled yesterday, 28 July 2008 led by financials after investment bank Merill Lynch said it will take a 5.7 billion dollar write-down in Q3. The International Monetary Fund's warned that worsening credit conditions may prolong the economic slowdown added to the bearish sentiment. The IMF stood by its April forecast for about $1 trillion in losses stemming from the US mortgage crisis.
The Dow Jones industrial average lost 239.61 points, or 2.11%, to 11,131.08. The Nasdaq composite index declined 46.31 points, or 2%, to 2,264.22. The S&P 500 index fell 23.39 points, or 1.86%, to 1,234.37.
Back home, the 30-share BSE Sensex gained 74.17 points or 0.52% higher at 14,349.11and the broader based S&P CNX Nifty rose 20.25 points or 0.47% at 4,332.10, yesterday, 28 July 2008. The barometer index BSE Sensex is down 5,937.88 points or 29.26% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6,857.66 points or 32.33% away from its all-time high of 21,206.77 struck on 10 January 2008.
As per the provisional figures foreign institutional investors (FII)'s sold shares worth Rs 721.90 crore while domestic funds bought shares worth Rs 456.67 crore yesterday 28 July 2008.
Foreign institutional investors (FIIs) were net sellers of Rs 1939.47 crore in the futures & options segment on 28 July 2008. They were net sellers of index futures to the tune of Rs 1166.31 crore and bought index options worth Rs 81.46 crore. They were net sellers of stock futures to the tune of Rs 883.85 crore and purchased stock options worth Rs 29.22 crore.
Monday, July 28, 2008
Post Market Report:28/07/2008
The key benchmark indices snapped Friday (25 July 2008)'s heavy
fall to score marginal gains. However, trade was cautious ahead of
the Reserve Bank's monetary policy review scheduled tomorrow, 29
July 2008.
Reliance Industries (RIL) recovered after weak start. Banking
stocks were mixed ahead of the monetary policy review by the
central bank. Capital goods and oil & gas stocks edged higher.
Asian markets, which opened before Indian market, were mostly in
green. European markets, which opened after Indian market, were
trading in red.
The 30-share BSE Sensex gained 74.17 points or 0.52% higher at
14,349.11. Sensex gained 145.66 points at day's high of 14,420.60
hit in early afternoon trade.
The market had opened lower dampened by serial blasts in Bangalore
and Ahmedabad, which rocked the nation late last week. Sensex lost
55.56 points at the day's low of 14,219.38, hit in early trade.
The broader based S&P CNX Nifty rose 20.25 points or 0.47% at
4,332.10.
The barometer index BSE Sensex is down 5,937.88 points or 29.26% in
the calendar year 2008 so far from its close of 20,286.99 on 31
December 2007. It is 6,857.66 points or 32.33% away from its
all-time high of 21,206.77 struck on 10 January 2008.
Nifty July 2008 futures were at 4338.50, at a premium of 6.40
points as compared to spot closing of 4332.10.
The BSE clocked a turnover of Rs 4596 crore today, 28 July 2008 as
compared to a turnover of Rs 5,866.95 on Friday, 25 July 2008.
NSE's futures & options (F&O) segment turnover was Rs 45,000.90
crore, which was lower than Rs 53,163.45 crore on Friday, 25 July
2008.
The BSE Mid-Cap index was up 1.04% to 5,630.78 and the BSE
Small-Cap index was up 1.98% to 6,912.98.
The market breadth was positive on BSE with 1,767 shares advancing
as compared to 848 that declined. 77 remained unchanged.
As per the provisional figures on BSE, the foreign institutional
investors (FII)'s sold shares worth Rs 721.90 crore while domestic
funds bought shares worth Rs 456.67 crore today,28 July 2008.
BSE Oil & Gas (up 1.56% to 9,652.90), BSE Capital Goods index (up
1.44% to 11,906.81), BSE Consumer Durables index (up 1.02% to
3,660.72), BSE Realty index (up 1% to 5,079.12), BSE PSU index (up
0.75% to 6,724.42) outperformed Sensex.
BSE Metal index (down 1% to 12,366.6.72), BSE Power index (down
0.29% to 2,579.81), BSE IT index (down 0.12% to 3,606.81), BSE Auto
index (down 0.06% to 3,723.80), BSE Bankex (up 0.15% to 6,761.82),
BSE Teck index (up 0.29% to 2,981.88), BSE HealthCare (up 0.39% to
4,202.67) and BSE FMCG (up 0.5% to 2,135.11) underperformed Sensex.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries rose 1.48% to Rs 2,179.10. The
stock came off from the session's low of Rs 2,105.55. Earlier in
the day, the stock had extended a sharp fall witnessed on Friday,
25 July 2008, after its Q1 June 2008 results disappointed
investors.
Power stocks were mixed. Power Grid Corporation of India (down
1.06% to Rs 98.10), NTPC (down 1.44% to Rs 184.80) edged lower
while Reliance Infrastructure (up 0.24% to Rs 987.05) and Reliance
Power (up 0.21% to Rs 169.20) edged higher.
Metal stocks fell. Steel Authority of India (down 1.4% to Rs
137.30), National Aluminum Company (down 3.06% to Rs 428.75), Tata
Steel (down 2.26% to Rs 603.95) edged lower.
Capital Goods stocks rose. India's largest engineering and
construction firm by sales Larsen & Toubro rose 3.73% to Rs
2,723.55. L&T reported 33.32% growth in net profit to Rs 502.44
crore on 50.63% rise in total income to Rs 7,103.26 crore in Q1
June 2008 over Q1 June 2007. It announced the result during the
market hours today.
India's largest wind turbine maker by sales Suzlon Energy rose
1.09% to Rs 213.75 while India's largest electric equipment maker
by sales Bharat Heavy Electricals declined 0.37% to Rs 1,665edged
higher.
Oil & Gas stocks rose. BPCL (up 1.86% to Rs 325.70), HPCL (up 0.22%
to Rs 230.20), Reliance Petroleum (up 1.72% to Rs 162.75) edged
higher.
Banking stocks were mixed ahead of Reserve Bank of India (RBI's)
monetary policy review scheduled tomorrow 29 July 2008. India's
largest private sector bank in terms of net profit ICICI Bank rose
1% to Rs 663.45. The bank's net profit declined 6% to Rs 728 crore
on 1.6% growth in total income to Rs 9429.98 crore in Q1 June 2008
over Q1 June 2007. Treasury losses and slower growth in advances
have taken a toll on ICICI Bank's profits for the first quarter of
the current financial year.
India's second largest private sector bank by sales HDFC Bank was
flat at Rs 1127.05 after the bank reported 44.55% jump in net
profit to Rs 464.35 crore on 59.56% spurt in total income to Rs
4215.15 crore in Q1 June 2008 over Q1 June 2007. HDFC Bank said the
results were not comparable due to merger of Centurion Bank of
Punjab with the bank. HDFC Bank announced the result today during
the market hours.
Axis Bank (down 2.15% to Rs 697.20) and Allahabad Bank (down 0.32%
to Rs 61.70) edged lower.
India's largest commercial bank State Bank of India (SBI) declined
2.12% to Rs 1,418.05. The bank's net profit rose 15% to Rs 1640.79
crore on 32.4% growth in total income to Rs 16203.07 crore in Q1
June 2008 over Q1 June 2007.
India's largest FMCG major by sales Hindustan Unilever declined
0.56% to Rs 230.90. Net profit of Hindustan Unilever fell 0.06% to
Rs 558.18 crore on 21.09% growth in sales to Rs 4215.67 crore in Q2
June 2008 over Q2 June 2007. The company announced the results at
the fag end of the trading session on Friday, 25 July 2008.
Sterlite Industries declined 3.47% to Rs 582.25 and Tata Power
Company rose 3.5 6% to Rs 1,051.60. Sterlite Industries and Tata
Power Company will replace Ambuja Cement and Cipla in Sensex from
today, 28 July 2008. Cipla declined 1.17% to Rs 222.95.
Sterlite Industries' net profit rose 77.67% to Rs 357.93 crore on
0.73% fall in total income to Rs 3,142.6 crore in Q1 June 2008 over
Q1 June 2007. It announced the result during trading hours today.
Ambuja Cement fell 0.37% to Rs 81.80. Net profit of Ambuja Cements
declined 32.51% to Rs 577.02 crore on 8.20% growth in sales to Rs
1569.77 crore in the quarter ended June 2008 over the quarter ended
June 2007.
Ranbaxy Laboratories (up 2.6% to Rs 493.75), ACC (up 3.34% to Rs
593.45), ONGC (up 3% to Rs 1,012.50), Reliance Communications (up
1.82% to Rs 512.25), and edged higher from Sensex pack.
Reliance Natural Resources clocked the highest volume of 1.68 crore
shares on BSE. Ispat Industries (1.58 crore shares), Himachal
Futuristic Communications (93.93 lakh shares), IFCI (88.73 lakh
shares) and Mangalore Refinery and Petrochemicals (79.93 lakh
shares) were the volume toppers in that order.
Larsen & Toubro clocked the highest turnover of Rs 294.76 crore on
BSE. Reliance Industries (Rs 262.66 crore), Reliance Capital (Rs
197.62 crore), Housing Development and Infrastructure (Rs 189.08
crore) and Reliance Natural Resources (Rs 161.34 crore) were other
turnover toppers in that order.
Expiry of futures & options contracts for July 2008 series is on
Thursday, 31 July 2008. As per reports, marketwide rollover of
positions from July 2008 series to August 2008 series stood at 19%,
while that of Nifty was 24%, as of Friday 25 July 2008.
In Europe, France's CAC, UK's FTSE 100 and Germany's DAX were down
by between 0.33% to 1.26%.
Asian markets were trading higher today, 28 July 2008. China's
Shanghai Composite, Japan's Nikkei, South Korea's Seoul Composite,
rose between 0.02% to 1.32%. Singapore's Strait Times and Hong
Kong's Hang Seng fell between 0.29% to 0.44%.
US markets advanced on Friday, 25 July 2008 on better than expected
economic of durables, new home sales and consumer sentiment eased
concerns of economic slowdown. The Dow Jones rose 21 points at
11,370 while the Nasdaq Composite gained 30 points to 2,310. The
S&P 500 index climbed 5.22 points at 1257.76.
fall to score marginal gains. However, trade was cautious ahead of
the Reserve Bank's monetary policy review scheduled tomorrow, 29
July 2008.
Reliance Industries (RIL) recovered after weak start. Banking
stocks were mixed ahead of the monetary policy review by the
central bank. Capital goods and oil & gas stocks edged higher.
Asian markets, which opened before Indian market, were mostly in
green. European markets, which opened after Indian market, were
trading in red.
The 30-share BSE Sensex gained 74.17 points or 0.52% higher at
14,349.11. Sensex gained 145.66 points at day's high of 14,420.60
hit in early afternoon trade.
The market had opened lower dampened by serial blasts in Bangalore
and Ahmedabad, which rocked the nation late last week. Sensex lost
55.56 points at the day's low of 14,219.38, hit in early trade.
The broader based S&P CNX Nifty rose 20.25 points or 0.47% at
4,332.10.
The barometer index BSE Sensex is down 5,937.88 points or 29.26% in
the calendar year 2008 so far from its close of 20,286.99 on 31
December 2007. It is 6,857.66 points or 32.33% away from its
all-time high of 21,206.77 struck on 10 January 2008.
Nifty July 2008 futures were at 4338.50, at a premium of 6.40
points as compared to spot closing of 4332.10.
The BSE clocked a turnover of Rs 4596 crore today, 28 July 2008 as
compared to a turnover of Rs 5,866.95 on Friday, 25 July 2008.
NSE's futures & options (F&O) segment turnover was Rs 45,000.90
crore, which was lower than Rs 53,163.45 crore on Friday, 25 July
2008.
The BSE Mid-Cap index was up 1.04% to 5,630.78 and the BSE
Small-Cap index was up 1.98% to 6,912.98.
The market breadth was positive on BSE with 1,767 shares advancing
as compared to 848 that declined. 77 remained unchanged.
As per the provisional figures on BSE, the foreign institutional
investors (FII)'s sold shares worth Rs 721.90 crore while domestic
funds bought shares worth Rs 456.67 crore today,28 July 2008.
BSE Oil & Gas (up 1.56% to 9,652.90), BSE Capital Goods index (up
1.44% to 11,906.81), BSE Consumer Durables index (up 1.02% to
3,660.72), BSE Realty index (up 1% to 5,079.12), BSE PSU index (up
0.75% to 6,724.42) outperformed Sensex.
BSE Metal index (down 1% to 12,366.6.72), BSE Power index (down
0.29% to 2,579.81), BSE IT index (down 0.12% to 3,606.81), BSE Auto
index (down 0.06% to 3,723.80), BSE Bankex (up 0.15% to 6,761.82),
BSE Teck index (up 0.29% to 2,981.88), BSE HealthCare (up 0.39% to
4,202.67) and BSE FMCG (up 0.5% to 2,135.11) underperformed Sensex.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries rose 1.48% to Rs 2,179.10. The
stock came off from the session's low of Rs 2,105.55. Earlier in
the day, the stock had extended a sharp fall witnessed on Friday,
25 July 2008, after its Q1 June 2008 results disappointed
investors.
Power stocks were mixed. Power Grid Corporation of India (down
1.06% to Rs 98.10), NTPC (down 1.44% to Rs 184.80) edged lower
while Reliance Infrastructure (up 0.24% to Rs 987.05) and Reliance
Power (up 0.21% to Rs 169.20) edged higher.
Metal stocks fell. Steel Authority of India (down 1.4% to Rs
137.30), National Aluminum Company (down 3.06% to Rs 428.75), Tata
Steel (down 2.26% to Rs 603.95) edged lower.
Capital Goods stocks rose. India's largest engineering and
construction firm by sales Larsen & Toubro rose 3.73% to Rs
2,723.55. L&T reported 33.32% growth in net profit to Rs 502.44
crore on 50.63% rise in total income to Rs 7,103.26 crore in Q1
June 2008 over Q1 June 2007. It announced the result during the
market hours today.
India's largest wind turbine maker by sales Suzlon Energy rose
1.09% to Rs 213.75 while India's largest electric equipment maker
by sales Bharat Heavy Electricals declined 0.37% to Rs 1,665edged
higher.
Oil & Gas stocks rose. BPCL (up 1.86% to Rs 325.70), HPCL (up 0.22%
to Rs 230.20), Reliance Petroleum (up 1.72% to Rs 162.75) edged
higher.
Banking stocks were mixed ahead of Reserve Bank of India (RBI's)
monetary policy review scheduled tomorrow 29 July 2008. India's
largest private sector bank in terms of net profit ICICI Bank rose
1% to Rs 663.45. The bank's net profit declined 6% to Rs 728 crore
on 1.6% growth in total income to Rs 9429.98 crore in Q1 June 2008
over Q1 June 2007. Treasury losses and slower growth in advances
have taken a toll on ICICI Bank's profits for the first quarter of
the current financial year.
India's second largest private sector bank by sales HDFC Bank was
flat at Rs 1127.05 after the bank reported 44.55% jump in net
profit to Rs 464.35 crore on 59.56% spurt in total income to Rs
4215.15 crore in Q1 June 2008 over Q1 June 2007. HDFC Bank said the
results were not comparable due to merger of Centurion Bank of
Punjab with the bank. HDFC Bank announced the result today during
the market hours.
Axis Bank (down 2.15% to Rs 697.20) and Allahabad Bank (down 0.32%
to Rs 61.70) edged lower.
India's largest commercial bank State Bank of India (SBI) declined
2.12% to Rs 1,418.05. The bank's net profit rose 15% to Rs 1640.79
crore on 32.4% growth in total income to Rs 16203.07 crore in Q1
June 2008 over Q1 June 2007.
India's largest FMCG major by sales Hindustan Unilever declined
0.56% to Rs 230.90. Net profit of Hindustan Unilever fell 0.06% to
Rs 558.18 crore on 21.09% growth in sales to Rs 4215.67 crore in Q2
June 2008 over Q2 June 2007. The company announced the results at
the fag end of the trading session on Friday, 25 July 2008.
Sterlite Industries declined 3.47% to Rs 582.25 and Tata Power
Company rose 3.5 6% to Rs 1,051.60. Sterlite Industries and Tata
Power Company will replace Ambuja Cement and Cipla in Sensex from
today, 28 July 2008. Cipla declined 1.17% to Rs 222.95.
Sterlite Industries' net profit rose 77.67% to Rs 357.93 crore on
0.73% fall in total income to Rs 3,142.6 crore in Q1 June 2008 over
Q1 June 2007. It announced the result during trading hours today.
Ambuja Cement fell 0.37% to Rs 81.80. Net profit of Ambuja Cements
declined 32.51% to Rs 577.02 crore on 8.20% growth in sales to Rs
1569.77 crore in the quarter ended June 2008 over the quarter ended
June 2007.
Ranbaxy Laboratories (up 2.6% to Rs 493.75), ACC (up 3.34% to Rs
593.45), ONGC (up 3% to Rs 1,012.50), Reliance Communications (up
1.82% to Rs 512.25), and edged higher from Sensex pack.
Reliance Natural Resources clocked the highest volume of 1.68 crore
shares on BSE. Ispat Industries (1.58 crore shares), Himachal
Futuristic Communications (93.93 lakh shares), IFCI (88.73 lakh
shares) and Mangalore Refinery and Petrochemicals (79.93 lakh
shares) were the volume toppers in that order.
Larsen & Toubro clocked the highest turnover of Rs 294.76 crore on
BSE. Reliance Industries (Rs 262.66 crore), Reliance Capital (Rs
197.62 crore), Housing Development and Infrastructure (Rs 189.08
crore) and Reliance Natural Resources (Rs 161.34 crore) were other
turnover toppers in that order.
Expiry of futures & options contracts for July 2008 series is on
Thursday, 31 July 2008. As per reports, marketwide rollover of
positions from July 2008 series to August 2008 series stood at 19%,
while that of Nifty was 24%, as of Friday 25 July 2008.
In Europe, France's CAC, UK's FTSE 100 and Germany's DAX were down
by between 0.33% to 1.26%.
Asian markets were trading higher today, 28 July 2008. China's
Shanghai Composite, Japan's Nikkei, South Korea's Seoul Composite,
rose between 0.02% to 1.32%. Singapore's Strait Times and Hong
Kong's Hang Seng fell between 0.29% to 0.44%.
US markets advanced on Friday, 25 July 2008 on better than expected
economic of durables, new home sales and consumer sentiment eased
concerns of economic slowdown. The Dow Jones rose 21 points at
11,370 while the Nasdaq Composite gained 30 points to 2,310. The
S&P 500 index climbed 5.22 points at 1257.76.
Some small-cap, mid-cap stocks rally
The key benchmark indices extended gains to hit intra-day high in
early afternoon trade as Larsen & Toubro and ONGC surged ahead of
Q1 June 2008. Reliance Industries recovered. Banking stocks were
mixed ahead of monetary policy review by the central bank scheduled
tomorrow, 29 July 2008. Capital goods and realty stocks edged
higher. Asian markets, which opened before Indian market, were
mostly in green.
Crude oil edged higher after a sharp correction from record high
last week. US light crude for September delivery rose 46 cents to
$123.72 a barrel.
At 12:28 IST, the 30-share BSE Sensex was up 83.36 points or 0.58%
at 14,359.11. The index gained 128.71 points at day's high of
14,403.65 hit in early afternoon trade.
The market had opened lower dampened by serial blasts in Bangalore
and Ahmedabad, which rocked the nation late last week. Sensex lost
55.56 points at the day's low of 14,219.38, hit in early trade.
The broader based S&P CNX Nifty rose 24.7 points or 0.57% at
4,336.55.
The BSE Mid-Cap index was up 0.96% to 5,626.03 and the BSE
Small-Cap index was up 1.7% to 6,893.74.
The market breadth was positive on BSE with 1,598 shares advancing
as compared to 699 that declined. 68 remained unchanged.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries slipped 0.24% to Rs 2,141.65. The
stock came off from the session's low of Rs 2,105.55. Earlier in
the day, the stock had extended a sharp fall witnessed on Friday,
25 July 2008, after its Q1 June 2008 results disappointed
investors.
From the mid-cap space, Gujarat Flurochemicals (up 10.49% to Rs
192.10), Coromandel Fertiliser and Chemicals (up 10% to Rs 170.05),
Mphasis (up 8.75% to Rs 211.90), Phoenix Mills (up 7.15% to Rs
177.70) and Rashtriya Chemicals & Fertilisers (up 6.3% to Rs 70)
edged higher.
From the small-cap stocks, PNB Gilts (up 19.9% to Rs 22.90),
Himachal Futuristic Communications (up 15.4% to Rs 17.83), Gallantt
Metal (up 15.14% to Rs 23.95), FDC (up 13.26% to Rs 30.75) edged
higher.
From the A group stocks, Reliance Industrial Infrastructure (up 5%
to Rs 942.65) and Jai Corp (up 5% to 444.55) hit upper limit.
Capital Goods stocks rose. Larsen & Toubro (up 4.06% to Rs 2,738),
Bharat Heavy Electricals (up 2.85% to Rs 1,702.10) and Suzlon
Energy (up 2.88% to Rs 217.55) edged higher.
Realty stocks edged higher. Phoenix Mills (up 6.12% to Rs 176.10),
DLF (up 3.21% to Rs 506.50) and Unitech (up 2.36% to Rs 169.25)
edged higher.
Banking stocks were mixed ahead of Reserve Bank of India (RBI's)
monetary policy review scheduled tomorrow 29 July 2008. India's
largest private sector bank in terms of net profit ICICI Bank rose
0.84% to Rs 661. The bank's net profit declined 6% to Rs 728 crore
on 1.6% growth in total income to Rs 9429.98 crore in Q1 June 2008
over Q1 June 2007. Treasury losses and slower growth in advances
have taken a toll on ICICI Bank's profits for the first quarter of
the current financial year.
Axis Bank (down 0.08% to Rs 712) and Kotak Mahindra Bank (down
0.99% to Rs 553.55) edged lower.
India's largest commercial bank State Bank of India (SBI) rose
1.95% to Rs 1,477. The bank's net profit rose 15% to Rs 1640.79
crore on 32.4% growth in total income to Rs 16203.07 crore in Q1
June 2008 over Q1 June 2007.
India's largest FMCG major by sales Hindustan Unilever declined
0.09% to Rs 232. Net profit of Hindustan Unilever fell 0.06% to Rs
558.18 crore on 21.09% growth in sales to Rs 4215.67 crore in Q2
June 2008 over Q2 June 2007. The company announced the results at
the fag end of the trading session on Friday, 25 July 2008.
Sterlite Industries declined 3.21% to Rs 584 and Tata Power Company
rose 4.1% to Rs 1,058. Sterlite Industries and Tata Power Company
will replace Ambuja Cement and Cipla in Sensex from today, 28 July
2008. Cipla rose 0.53% to Rs 226.80.
Ambuja Cement rose 0.74% to Rs 82.70. Net profit of Ambuja Cements
declined 32.51% to Rs 577.02 crore on 8.20% growth in sales to Rs
1569.77 crore in the quarter ended June 2008 over the quarter ended
June 2007.
Reliance Infrastructure (up 3.08% to Rs 1,014.90), Ranbaxy
Laboratories (up 3.25% to Rs 496.90), Reliance Communications (up
2.51% to Rs 515.75), and ONGC (up 2.22% to Rs 1,004.80) edged
higher from Sensex pack.
Celestial Labs rose 7.57% to Rs 34.80 after it acquired the
contract research business of Rational Laboratories located at
Nacharam, Hyderabad and Sandiego, USA.
Expiry of futures & options contracts for July 2008 series is on
Thursday, 31 July 2008. As per reports, marketwide rollover of
positions from July 2008 series to August 2008 series stood at 19%,
while that of Nifty was 24%, as of Friday 25 July 2008.
Asian markets were trading higher today, 28 July 2008. China's
Shanghai Composite, Japan's Nikkei, South Korea's Seoul Composite,
Hong Kong's Hang Seng rose between 0.02% to 1.12%. Singapore's
Strait Times fell 0.13% to 2,919.14.
early afternoon trade as Larsen & Toubro and ONGC surged ahead of
Q1 June 2008. Reliance Industries recovered. Banking stocks were
mixed ahead of monetary policy review by the central bank scheduled
tomorrow, 29 July 2008. Capital goods and realty stocks edged
higher. Asian markets, which opened before Indian market, were
mostly in green.
Crude oil edged higher after a sharp correction from record high
last week. US light crude for September delivery rose 46 cents to
$123.72 a barrel.
At 12:28 IST, the 30-share BSE Sensex was up 83.36 points or 0.58%
at 14,359.11. The index gained 128.71 points at day's high of
14,403.65 hit in early afternoon trade.
The market had opened lower dampened by serial blasts in Bangalore
and Ahmedabad, which rocked the nation late last week. Sensex lost
55.56 points at the day's low of 14,219.38, hit in early trade.
The broader based S&P CNX Nifty rose 24.7 points or 0.57% at
4,336.55.
The BSE Mid-Cap index was up 0.96% to 5,626.03 and the BSE
Small-Cap index was up 1.7% to 6,893.74.
The market breadth was positive on BSE with 1,598 shares advancing
as compared to 699 that declined. 68 remained unchanged.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries slipped 0.24% to Rs 2,141.65. The
stock came off from the session's low of Rs 2,105.55. Earlier in
the day, the stock had extended a sharp fall witnessed on Friday,
25 July 2008, after its Q1 June 2008 results disappointed
investors.
From the mid-cap space, Gujarat Flurochemicals (up 10.49% to Rs
192.10), Coromandel Fertiliser and Chemicals (up 10% to Rs 170.05),
Mphasis (up 8.75% to Rs 211.90), Phoenix Mills (up 7.15% to Rs
177.70) and Rashtriya Chemicals & Fertilisers (up 6.3% to Rs 70)
edged higher.
From the small-cap stocks, PNB Gilts (up 19.9% to Rs 22.90),
Himachal Futuristic Communications (up 15.4% to Rs 17.83), Gallantt
Metal (up 15.14% to Rs 23.95), FDC (up 13.26% to Rs 30.75) edged
higher.
From the A group stocks, Reliance Industrial Infrastructure (up 5%
to Rs 942.65) and Jai Corp (up 5% to 444.55) hit upper limit.
Capital Goods stocks rose. Larsen & Toubro (up 4.06% to Rs 2,738),
Bharat Heavy Electricals (up 2.85% to Rs 1,702.10) and Suzlon
Energy (up 2.88% to Rs 217.55) edged higher.
Realty stocks edged higher. Phoenix Mills (up 6.12% to Rs 176.10),
DLF (up 3.21% to Rs 506.50) and Unitech (up 2.36% to Rs 169.25)
edged higher.
Banking stocks were mixed ahead of Reserve Bank of India (RBI's)
monetary policy review scheduled tomorrow 29 July 2008. India's
largest private sector bank in terms of net profit ICICI Bank rose
0.84% to Rs 661. The bank's net profit declined 6% to Rs 728 crore
on 1.6% growth in total income to Rs 9429.98 crore in Q1 June 2008
over Q1 June 2007. Treasury losses and slower growth in advances
have taken a toll on ICICI Bank's profits for the first quarter of
the current financial year.
Axis Bank (down 0.08% to Rs 712) and Kotak Mahindra Bank (down
0.99% to Rs 553.55) edged lower.
India's largest commercial bank State Bank of India (SBI) rose
1.95% to Rs 1,477. The bank's net profit rose 15% to Rs 1640.79
crore on 32.4% growth in total income to Rs 16203.07 crore in Q1
June 2008 over Q1 June 2007.
India's largest FMCG major by sales Hindustan Unilever declined
0.09% to Rs 232. Net profit of Hindustan Unilever fell 0.06% to Rs
558.18 crore on 21.09% growth in sales to Rs 4215.67 crore in Q2
June 2008 over Q2 June 2007. The company announced the results at
the fag end of the trading session on Friday, 25 July 2008.
Sterlite Industries declined 3.21% to Rs 584 and Tata Power Company
rose 4.1% to Rs 1,058. Sterlite Industries and Tata Power Company
will replace Ambuja Cement and Cipla in Sensex from today, 28 July
2008. Cipla rose 0.53% to Rs 226.80.
Ambuja Cement rose 0.74% to Rs 82.70. Net profit of Ambuja Cements
declined 32.51% to Rs 577.02 crore on 8.20% growth in sales to Rs
1569.77 crore in the quarter ended June 2008 over the quarter ended
June 2007.
Reliance Infrastructure (up 3.08% to Rs 1,014.90), Ranbaxy
Laboratories (up 3.25% to Rs 496.90), Reliance Communications (up
2.51% to Rs 515.75), and ONGC (up 2.22% to Rs 1,004.80) edged
higher from Sensex pack.
Celestial Labs rose 7.57% to Rs 34.80 after it acquired the
contract research business of Rational Laboratories located at
Nacharam, Hyderabad and Sandiego, USA.
Expiry of futures & options contracts for July 2008 series is on
Thursday, 31 July 2008. As per reports, marketwide rollover of
positions from July 2008 series to August 2008 series stood at 19%,
while that of Nifty was 24%, as of Friday 25 July 2008.
Asian markets were trading higher today, 28 July 2008. China's
Shanghai Composite, Japan's Nikkei, South Korea's Seoul Composite,
Hong Kong's Hang Seng rose between 0.02% to 1.12%. Singapore's
Strait Times fell 0.13% to 2,919.14.
Market moves between positive and negative zone
Key benchmark indices moved between positive and negative zone in
mid-morning trade. Banking stocks were mixed ahead of monetary
policy review by the central bank scheduled tomorrow, 29 July 2008.
Reliance Industries extended its post-result fall. Capital goods,
realty and FMCG stocks edged higher. Asian markets were mostly in
green.
Crude oil edged higher after a sharp correction from record high
last week. US light crude for September delivery rose 46 cents to
$123.72 a barrel.
At 11:19 IST, the 30-share BSE Sensex was up 33.42 points or 0.22%
at 14,306.11. The index gained 94.49 points at day's high of
14,369.43 hit in early trade.
The market had opened lower dampened by serial blasts in Bangalore
and Ahmedabad, which rocked the nation late last week. Sensex lost
55.56 points at the day's low of 14,219.38, hit in early trade.
The broader based S&P CNX Nifty rose 12.4 points or 0.28% at
4,324.25.
The BSE Mid-Cap index was up 0.58% to 5,605.04 and the BSE
Small-Cap index was up 1.1% to 6,853.54.
The market breadth was positive on BSE with 1,316 shares advancing
as compared to 736 that declined. 65 remained unchanged.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries slipped 1.16% to Rs 2,122.50.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries slipped 1.55% to Rs 2,114. The
stock extended a sharp fall witnessed on Friday, 25 July 2008,
after its Q1 June 2008 results disappointed investors.
Capital Goods stocks rose. Larsen & Toubro (up 2.33% to Rs
2,686.90), Bharat Heavy Electricals (up 2.66% to Rs 1,695.70) and
Suzlon Energy (up 1.87% to Rs 215.40) edged higher.
Realty stocks edged higher. Phoenix Mills (up 8.23% to Rs 179.20),
DLF (up 2.32% to Rs 502.15) and Unitech (up 1.57% to Rs 167.90)
edged higher.
FMCG stocks rose. ITC (up 1.51% to Rs 191.60) and United Spirits
(up 1.08% to Rs 1,272) edged higher.
India's largest FMCG major by sales Hindustan Unilever declined
0.09% to Rs 232. Net profit of Hindustan Unilever rose 13.20% to Rs
558.18 crore on 21.09% growth in sales to Rs 4215.67 crore in Q2
June 2008 over Q2 June 2007. The company announced the results at
the fag end of the trading session on Friday, 25 July 2008.
Banking stocks were mixed ahead of Reserve Bank of India (RBI's)
monetary policy review scheduled tomorrow 29 July 2008. India's
largest private sector bank in terms of net profit ICICI Bank
declined 2.87% to Rs 638.40. The bank's net profit declined 6% to
Rs 728 crore on 1.6% growth in total income to Rs 9429.98 crore in
Q1 June 2008 over Q1 June 2007. Treasury losses and slower growth
in advances have taken a toll on ICICI Bank's profits for the first
quarter of the current financial year.
Axis Bank (down 1.21% to Rs 704) and Kotak Mahindra Bank (down
2.08% to Rs 548) edged lower.
India's largest commercial bank State Bank of India (SBI) rose
2.81% to Rs 1,489.45. The bank's net profit rose 15% to Rs 1640.79
crore on 32.4% growth in total income to Rs 16203.07 crore in Q1
June 2008 over Q1 June 2007.
Sterlite Industries declined 4.18% to Rs 577.95 and Tata Power
Company rose 1.78% to Rs 1,033.50. Sterlite Industries and Tata
Power Company will replace Ambuja Cement and Cipla in Sensex from
today, 28 July 2008. Cipla rose 0.44% to Rs 226.60.
Ambuja Cement rose 0.55% to Rs 82.55. Net profit of Ambuja Cements
declined 32.51% to Rs 577.02 crore on 8.20% growth in sales to Rs
1569.77 crore in the quarter ended June 2008 over the quarter ended
June 2007.
Ranbaxy Laboratories (up 2.13% to Rs 491.50), Reliance
Communications (up 1.69% to Rs 511.60), Tata Consultancy Services
(up 1.64% to Rs 811.10) and ONGC (up 1.5% to Rs 997.75) edged
higher from Sensex pack.
NTPC (down 1.65% to Rs 184.40), Tata Steel (down 1.36% to Rs
609.50), Infosys (down 0.92% to Rs 1,538.80) edged lower.
Sunil Hitech Engineers rose 5.57% to Rs 200.10. The company
announced today that its order book has crossed Rs 1,300 crore
mark.
Great Offshore 1.68% to Rs 418.10. The company today said it had
bagged a Rs 234-crore engineering services contract.
Expiry of futures & options contracts for July 2008 series is on
Thursday, 31 July 2008. As per reports, marketwide rollover of
positions from July 2008 series to August 2008 series stood at 19%,
while that of Nifty was 24%, as of Friday 25 July 2008.
Asian markets were trading higher today, 28 July 2008. China's
Shanghai Composite, Japan's Nikkei, South Korea's Seoul Composite,
Singapore's Straits, Hong Kong's Hang Seng rose between 0.02% to
1.42%.
US markets advanced on Friday, 25 July 2008 on better than expected
economic of durables, new home sales and consumer sentiment eased
concerns of economic slowdown. The Dow Jones rose 21 points at
11,370 while the Nasdaq Composite gained 30 points to 2,310. The
S&P 500 index climbed 5.22 points at 1257.76.
mid-morning trade. Banking stocks were mixed ahead of monetary
policy review by the central bank scheduled tomorrow, 29 July 2008.
Reliance Industries extended its post-result fall. Capital goods,
realty and FMCG stocks edged higher. Asian markets were mostly in
green.
Crude oil edged higher after a sharp correction from record high
last week. US light crude for September delivery rose 46 cents to
$123.72 a barrel.
At 11:19 IST, the 30-share BSE Sensex was up 33.42 points or 0.22%
at 14,306.11. The index gained 94.49 points at day's high of
14,369.43 hit in early trade.
The market had opened lower dampened by serial blasts in Bangalore
and Ahmedabad, which rocked the nation late last week. Sensex lost
55.56 points at the day's low of 14,219.38, hit in early trade.
The broader based S&P CNX Nifty rose 12.4 points or 0.28% at
4,324.25.
The BSE Mid-Cap index was up 0.58% to 5,605.04 and the BSE
Small-Cap index was up 1.1% to 6,853.54.
The market breadth was positive on BSE with 1,316 shares advancing
as compared to 736 that declined. 65 remained unchanged.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries slipped 1.16% to Rs 2,122.50.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries slipped 1.55% to Rs 2,114. The
stock extended a sharp fall witnessed on Friday, 25 July 2008,
after its Q1 June 2008 results disappointed investors.
Capital Goods stocks rose. Larsen & Toubro (up 2.33% to Rs
2,686.90), Bharat Heavy Electricals (up 2.66% to Rs 1,695.70) and
Suzlon Energy (up 1.87% to Rs 215.40) edged higher.
Realty stocks edged higher. Phoenix Mills (up 8.23% to Rs 179.20),
DLF (up 2.32% to Rs 502.15) and Unitech (up 1.57% to Rs 167.90)
edged higher.
FMCG stocks rose. ITC (up 1.51% to Rs 191.60) and United Spirits
(up 1.08% to Rs 1,272) edged higher.
India's largest FMCG major by sales Hindustan Unilever declined
0.09% to Rs 232. Net profit of Hindustan Unilever rose 13.20% to Rs
558.18 crore on 21.09% growth in sales to Rs 4215.67 crore in Q2
June 2008 over Q2 June 2007. The company announced the results at
the fag end of the trading session on Friday, 25 July 2008.
Banking stocks were mixed ahead of Reserve Bank of India (RBI's)
monetary policy review scheduled tomorrow 29 July 2008. India's
largest private sector bank in terms of net profit ICICI Bank
declined 2.87% to Rs 638.40. The bank's net profit declined 6% to
Rs 728 crore on 1.6% growth in total income to Rs 9429.98 crore in
Q1 June 2008 over Q1 June 2007. Treasury losses and slower growth
in advances have taken a toll on ICICI Bank's profits for the first
quarter of the current financial year.
Axis Bank (down 1.21% to Rs 704) and Kotak Mahindra Bank (down
2.08% to Rs 548) edged lower.
India's largest commercial bank State Bank of India (SBI) rose
2.81% to Rs 1,489.45. The bank's net profit rose 15% to Rs 1640.79
crore on 32.4% growth in total income to Rs 16203.07 crore in Q1
June 2008 over Q1 June 2007.
Sterlite Industries declined 4.18% to Rs 577.95 and Tata Power
Company rose 1.78% to Rs 1,033.50. Sterlite Industries and Tata
Power Company will replace Ambuja Cement and Cipla in Sensex from
today, 28 July 2008. Cipla rose 0.44% to Rs 226.60.
Ambuja Cement rose 0.55% to Rs 82.55. Net profit of Ambuja Cements
declined 32.51% to Rs 577.02 crore on 8.20% growth in sales to Rs
1569.77 crore in the quarter ended June 2008 over the quarter ended
June 2007.
Ranbaxy Laboratories (up 2.13% to Rs 491.50), Reliance
Communications (up 1.69% to Rs 511.60), Tata Consultancy Services
(up 1.64% to Rs 811.10) and ONGC (up 1.5% to Rs 997.75) edged
higher from Sensex pack.
NTPC (down 1.65% to Rs 184.40), Tata Steel (down 1.36% to Rs
609.50), Infosys (down 0.92% to Rs 1,538.80) edged lower.
Sunil Hitech Engineers rose 5.57% to Rs 200.10. The company
announced today that its order book has crossed Rs 1,300 crore
mark.
Great Offshore 1.68% to Rs 418.10. The company today said it had
bagged a Rs 234-crore engineering services contract.
Expiry of futures & options contracts for July 2008 series is on
Thursday, 31 July 2008. As per reports, marketwide rollover of
positions from July 2008 series to August 2008 series stood at 19%,
while that of Nifty was 24%, as of Friday 25 July 2008.
Asian markets were trading higher today, 28 July 2008. China's
Shanghai Composite, Japan's Nikkei, South Korea's Seoul Composite,
Singapore's Straits, Hong Kong's Hang Seng rose between 0.02% to
1.42%.
US markets advanced on Friday, 25 July 2008 on better than expected
economic of durables, new home sales and consumer sentiment eased
concerns of economic slowdown. The Dow Jones rose 21 points at
11,370 while the Nasdaq Composite gained 30 points to 2,310. The
S&P 500 index climbed 5.22 points at 1257.76.
ICICI Bank drops after dismal Q1
Key benchmark indices opened lower dampened by serial blasts in
Bangalore and Ahmedabad, which rocked the nation late last week.
Market witnessed high volatility in early trade. Banking stocks
declined ahead of monetary policy review by the central bank
scheduled tomorrow. Reliance Industries fell. FMCG stocks rose. The
market breadth was positive. Global cues were mixed.
Crude oil edged higher after a sharp correction from record high
last week. US light crude for September delivery rose 46 cents to
$123.72 a barrel.
At 10:22 IST, the 30-share BSE Sensex was up 43.03 points or 0.3%
at 14,322.74. The index lost 55.56 points at the day's low of
14,219.38, hit in early trade. The index gained 94.49 points at
day's high of 14,369.43 hit in early trade.
The broader based S&P CNX Nifty rose 12.4 points or 0.29% at
4,324.25.
The BSE Mid-Cap index was up 0.27% to 5,587.39 and the BSE
Small-Cap index was up 0.46% to 6,809.63.
The market breadth was positive on BSE with 752 shares advancing as
compared to 515 that declined. 40 remained unchanged.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries slipped 1.55% to Rs 2,114. India's
largest private sector firm by market capitalization and oil
refiner Reliance Industries slipped 1.55% to Rs 2,114. The stock
extended a sharp fall witnessed on Friday, 25 July 2008, after its
Q1 June 2008 results disappointed investors.
FMCG stocks rose. India's largest FMCG major by sales Hindustan
Unilever rose 0.93% to Rs 234.35. Net profit of Hindustan Unilever
rose 13.20% to Rs 558.18 crore on 21.09% growth in sales to Rs
4215.67 crore in Q2 June 2008 over Q2 June 2007. The company
announced the results at the fag end of the trading session on
Friday, 25 July 2008.
ITC (up 1.83% to Rs 192.25) and United Spirits (up 0.51% to Rs
1,264.90) edged higher.
Banking stocks declined ahead of Reserve Bank of India (RBI's)
monetary policy review scheduled tomorrow 29 July 2008. India's
largest private sector bank in terms of net profit ICICI Bank
declined 4.77% to Rs 625.50. The bank's net profit declined 6% to
Rs 728 crore on 1.6% growth in total income to Rs 9429.98 crore in
Q1 June 2008 over Q1 June 2007. Treasury losses and slower growth
in advances have taken a toll on ICICI Bank's profits for the first
quarter of the current financial year.
Axis Bank (down 1.96% to Rs 698.50) and Kotak Mahindra Bank (down
2.56% to Rs 545.35) edged lower.
India's largest commercial bank State Bank of India (SBI) rose 1.5%
to Rs 1,470.15. The bank's net profit rose 15% to Rs 1640.79 crore
on 32.4% growth in total income to Rs 16203.07 crore in Q1 June
2008 over Q1 June 2007.
Sterlite Industries declined 5.17% to Rs 572 and Tata Power Company
rose 1.63% to Rs 1,032. Sterlite Industries and Tata Power Company
will replace Ambuja Cement and Cipla in Sensex from today, 28 July
2008.
Ambuja Cement rose 0.67% to Rs 82.65. Net profit of Ambuja Cements
declined 32.51% to Rs 577.02 crore on 8.20% growth in sales to Rs
1569.77 crore in the quarter ended June 2008 over the quarter ended
June 2007.
ONGC (up 2.85% to Rs 1,011) , Bharat Heavy Electricals (up 2.54% to
Rs 1,698.55), Reliance Communications (up 1.69% to Rs 511.60) edged
higher from Sensex pack.
SRF declined 1.11% to Rs 124.90. The company said on on Friday, 25
July 2008, said its board approved capital expenditure worth Rs 115
crore. The approval includes a Rs 92.65 polyester polymerisation
chip plant and fluorospeciality facility with a capacity of 400
tonnes per annum at Bhiwadi in Rajasthan at an investment of Rs
22.50 crore.
Punjab National Bank rose 0.31% to Rs 490. It said on Friday, 25
July 2008, it plans to sell stake in PNB Gilts.
Punjab Tractors rose 3.58% to Rs 221.05. Punjab Tractors said after
trading hours on Friday, its board will meet on 30 July 2008, to
consider amalgamation of the company with Mahindra & Mahindra
(M&M), which holds a controlling stake in the firm.
Amara Raja Batteries declined 5.37% to Rs 123.25.Net profit of
Amara Raja Batteries declined 16.69% to Rs 14.92 crore 46.55%
growth in sales to Rs 314.49 crore in the quarter ended June 2008
over the quarter ended June 2007.
Expiry of futures & options contracts for July 2008 series is on
Thursday, 31 July 2008. As per reports, marketwide rollover of
positions from July 2008 series to August 2008 series stood at 19%,
while that of Nifty was 24%, as of Friday 25 July 2008.
Asian markets were trading mixed today, 28 July 2008. China's
Shanghai Composite, Japan's Nikkei, Singapore's Straits, Hong
Kong's Hang Seng rose between 0.11% to 1.4%. However, South Korea's
Seoul Composite declined 0.24% to 1,593.52.
US markets advanced on Friday, 25 July 2008 on better than expected
economic of durables, new home sales and consumer sentiment eased
concerns of economic slowdown. The Dow Jones rose 21 points at
11,370 while the Nasdaq Composite gained 30 points to 2,310. The
S&P 500 index climbed 5.22 points at 1257.76.
Bangalore and Ahmedabad, which rocked the nation late last week.
Market witnessed high volatility in early trade. Banking stocks
declined ahead of monetary policy review by the central bank
scheduled tomorrow. Reliance Industries fell. FMCG stocks rose. The
market breadth was positive. Global cues were mixed.
Crude oil edged higher after a sharp correction from record high
last week. US light crude for September delivery rose 46 cents to
$123.72 a barrel.
At 10:22 IST, the 30-share BSE Sensex was up 43.03 points or 0.3%
at 14,322.74. The index lost 55.56 points at the day's low of
14,219.38, hit in early trade. The index gained 94.49 points at
day's high of 14,369.43 hit in early trade.
The broader based S&P CNX Nifty rose 12.4 points or 0.29% at
4,324.25.
The BSE Mid-Cap index was up 0.27% to 5,587.39 and the BSE
Small-Cap index was up 0.46% to 6,809.63.
The market breadth was positive on BSE with 752 shares advancing as
compared to 515 that declined. 40 remained unchanged.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries slipped 1.55% to Rs 2,114. India's
largest private sector firm by market capitalization and oil
refiner Reliance Industries slipped 1.55% to Rs 2,114. The stock
extended a sharp fall witnessed on Friday, 25 July 2008, after its
Q1 June 2008 results disappointed investors.
FMCG stocks rose. India's largest FMCG major by sales Hindustan
Unilever rose 0.93% to Rs 234.35. Net profit of Hindustan Unilever
rose 13.20% to Rs 558.18 crore on 21.09% growth in sales to Rs
4215.67 crore in Q2 June 2008 over Q2 June 2007. The company
announced the results at the fag end of the trading session on
Friday, 25 July 2008.
ITC (up 1.83% to Rs 192.25) and United Spirits (up 0.51% to Rs
1,264.90) edged higher.
Banking stocks declined ahead of Reserve Bank of India (RBI's)
monetary policy review scheduled tomorrow 29 July 2008. India's
largest private sector bank in terms of net profit ICICI Bank
declined 4.77% to Rs 625.50. The bank's net profit declined 6% to
Rs 728 crore on 1.6% growth in total income to Rs 9429.98 crore in
Q1 June 2008 over Q1 June 2007. Treasury losses and slower growth
in advances have taken a toll on ICICI Bank's profits for the first
quarter of the current financial year.
Axis Bank (down 1.96% to Rs 698.50) and Kotak Mahindra Bank (down
2.56% to Rs 545.35) edged lower.
India's largest commercial bank State Bank of India (SBI) rose 1.5%
to Rs 1,470.15. The bank's net profit rose 15% to Rs 1640.79 crore
on 32.4% growth in total income to Rs 16203.07 crore in Q1 June
2008 over Q1 June 2007.
Sterlite Industries declined 5.17% to Rs 572 and Tata Power Company
rose 1.63% to Rs 1,032. Sterlite Industries and Tata Power Company
will replace Ambuja Cement and Cipla in Sensex from today, 28 July
2008.
Ambuja Cement rose 0.67% to Rs 82.65. Net profit of Ambuja Cements
declined 32.51% to Rs 577.02 crore on 8.20% growth in sales to Rs
1569.77 crore in the quarter ended June 2008 over the quarter ended
June 2007.
ONGC (up 2.85% to Rs 1,011) , Bharat Heavy Electricals (up 2.54% to
Rs 1,698.55), Reliance Communications (up 1.69% to Rs 511.60) edged
higher from Sensex pack.
SRF declined 1.11% to Rs 124.90. The company said on on Friday, 25
July 2008, said its board approved capital expenditure worth Rs 115
crore. The approval includes a Rs 92.65 polyester polymerisation
chip plant and fluorospeciality facility with a capacity of 400
tonnes per annum at Bhiwadi in Rajasthan at an investment of Rs
22.50 crore.
Punjab National Bank rose 0.31% to Rs 490. It said on Friday, 25
July 2008, it plans to sell stake in PNB Gilts.
Punjab Tractors rose 3.58% to Rs 221.05. Punjab Tractors said after
trading hours on Friday, its board will meet on 30 July 2008, to
consider amalgamation of the company with Mahindra & Mahindra
(M&M), which holds a controlling stake in the firm.
Amara Raja Batteries declined 5.37% to Rs 123.25.Net profit of
Amara Raja Batteries declined 16.69% to Rs 14.92 crore 46.55%
growth in sales to Rs 314.49 crore in the quarter ended June 2008
over the quarter ended June 2007.
Expiry of futures & options contracts for July 2008 series is on
Thursday, 31 July 2008. As per reports, marketwide rollover of
positions from July 2008 series to August 2008 series stood at 19%,
while that of Nifty was 24%, as of Friday 25 July 2008.
Asian markets were trading mixed today, 28 July 2008. China's
Shanghai Composite, Japan's Nikkei, Singapore's Straits, Hong
Kong's Hang Seng rose between 0.11% to 1.4%. However, South Korea's
Seoul Composite declined 0.24% to 1,593.52.
US markets advanced on Friday, 25 July 2008 on better than expected
economic of durables, new home sales and consumer sentiment eased
concerns of economic slowdown. The Dow Jones rose 21 points at
11,370 while the Nasdaq Composite gained 30 points to 2,310. The
S&P 500 index climbed 5.22 points at 1257.76.
Pre Market Report 28/07/2008 Market likely to open lower
Local benchmark indices are likely to open lower dampened by serial blasts in Bangalore and Ahmedabad, which rocked the nation last week. Global cues were mixed. Crude oil also edged higher after a sharp correction from record high last week. US light crude for September delivery rose 46 cents to $123.72 a barrel.
In the near term, the market trend is likely to dictated by slew of events like Reserve Bank of India (RBI's) monetary policy review on 29 July 2008 and expiry of futures & options contracts on Thursday, 31 July 2008. Besides, the progress of the monsoon and corporates quarterly numbers will also be keenly watched.
Volatility may remain high ahead of the expiry of futures & options contracts for July 2008 series on Thursday, 31 July 2008. As per reports, marketwide rollover of positions from July 2008 series to August 2008 series stood at 19%, while that of Nifty was 24%, as of Friday 25 July 2008.
Asian markets were trading mixed today, 28 July 2008. China's Shanghai Composite rose 1.95% or 55.93 points at 2,921.03, Japan's Nikkei added 0.53% or 71.07 points at 13,405.83, Hong Kong's Hang Seng advanced 0.04% or 9.73 points at 22,750.44. However, Singapore's Straits Times was down 0.33% or 9.73 points at 2,913.18 and South Korea's Seoul Composite slipped 0.32% or 5.15 points at 1,592.78
US markets advanced on Friday, 25 July 2008 on better than expected economic of durables, new home sales and consumer sentiment eased concerns of economic slowdown. The Dow Jones rose 21 points at 11,370 while the Nasdaq Composite gained 30 points to 2,310. The S&P 500 index climbed 5.22 points at 1257.76
Back home, markets cracked on Friday, 25 July 2008 on weak global cues and profit booking by investors after a recent sharp surge in a short span. The 30-share BSE Sensex fell 502.07 points or 3.40% at 14,274.94 and the broader based S&P CNX Nifty slipped 121.7 points or 2.74% at 4311.85, on that day.
The key benchmark indices extended gains for the third straight week in the week ended Friday, 25 July 2008, buoyed the Congress-led coalition government winning confidence vote in parliament, sharp correction in crude oil and short covering of derivatives positions. The barometer index BSE Sensex gained 639.54 points or 4.69% to 14,274.94 in the week ended Friday, 25 July 2008. The S&P CNX Nifty edged up 219.60 points or 5.36% to 4,311.85 in the week.
As per provisional data, foreign funds sold shares worth a net Rs 565.73 crore and domestic institutional investors sold shares worth a net Rs 302.41 crore on Friday, 25 July 2008
In the near term, the market trend is likely to dictated by slew of events like Reserve Bank of India (RBI's) monetary policy review on 29 July 2008 and expiry of futures & options contracts on Thursday, 31 July 2008. Besides, the progress of the monsoon and corporates quarterly numbers will also be keenly watched.
Volatility may remain high ahead of the expiry of futures & options contracts for July 2008 series on Thursday, 31 July 2008. As per reports, marketwide rollover of positions from July 2008 series to August 2008 series stood at 19%, while that of Nifty was 24%, as of Friday 25 July 2008.
Asian markets were trading mixed today, 28 July 2008. China's Shanghai Composite rose 1.95% or 55.93 points at 2,921.03, Japan's Nikkei added 0.53% or 71.07 points at 13,405.83, Hong Kong's Hang Seng advanced 0.04% or 9.73 points at 22,750.44. However, Singapore's Straits Times was down 0.33% or 9.73 points at 2,913.18 and South Korea's Seoul Composite slipped 0.32% or 5.15 points at 1,592.78
US markets advanced on Friday, 25 July 2008 on better than expected economic of durables, new home sales and consumer sentiment eased concerns of economic slowdown. The Dow Jones rose 21 points at 11,370 while the Nasdaq Composite gained 30 points to 2,310. The S&P 500 index climbed 5.22 points at 1257.76
Back home, markets cracked on Friday, 25 July 2008 on weak global cues and profit booking by investors after a recent sharp surge in a short span. The 30-share BSE Sensex fell 502.07 points or 3.40% at 14,274.94 and the broader based S&P CNX Nifty slipped 121.7 points or 2.74% at 4311.85, on that day.
The key benchmark indices extended gains for the third straight week in the week ended Friday, 25 July 2008, buoyed the Congress-led coalition government winning confidence vote in parliament, sharp correction in crude oil and short covering of derivatives positions. The barometer index BSE Sensex gained 639.54 points or 4.69% to 14,274.94 in the week ended Friday, 25 July 2008. The S&P CNX Nifty edged up 219.60 points or 5.36% to 4,311.85 in the week.
As per provisional data, foreign funds sold shares worth a net Rs 565.73 crore and domestic institutional investors sold shares worth a net Rs 302.41 crore on Friday, 25 July 2008
Sunday, July 27, 2008
MARUTI SUZUKI results update
The company recorded healthy growth of 21% to Rs 4753.58 crore in quarter endedJun ’08 backed by its net sales. Driven by 14% growth to 192584 units in its total salesvolume in quarter ended Jun ’08. Its domestic sales volume, that contributes 94% tototal sales volume, rose by 12% to 180093 units in line with the industry growth. Thedomestic sales volume was backed by its A2 segment (Alto, Wagon R. Zen, Swift) andA 3 segment (SX4, Swift Dzire). Its exports recorded healthy growth of 38% to 12491units in quarter ended Jun ’08. Also its income from operations rose by 31% to Rs22.55 crore.Its operating profit margin (OPM) slipped by notable 490 bps to 9.75% owing to thehigh raw material cost. Its market to market loss amounted to Rs 17.90 crore in quarterended Jun ’08.On the non operating front, its other income surged by robust 47% to Rs 328.78 crore.The other income includes interest/dividend income of Rs 222 crore (up by 41%) frominvestments in mutual funds and operational activities such as scrap sales of Rs 53.50crore (up by 55%). Its interest outgo rose by 12% to Rs 16.83 crore. Its depreciationcost surged by 102% to Rs 166.06 crore includes additional depreciation of Rs 61.90crore owing to the new depreciation policy. The company has adopted newdepreciation policy where in which the useful life of the assets under SLM method hasbeen shortened in quarter ended Mar ‘08. The company adopted this new depreciationpolicy on account of shorter product life cycles due to faster product refreshment andfast changing technology. However its tax provision slipped by 29% to Rs 143.68crore. Thus the downfall in its net profit was partially arrested to 7% to Rs 465.85crore
Wednesday, July 9, 2008
Pre Market Report 09/07/2008
Local shares are likely to be witness a gap-up opening today, 9 July 2008, as political uncertainties come to an end with the Left announcing withdrawal of support to the UPA government. Positive global cues and sharp decline in crude oil prices may propel the sentiment further.
US crude oil futures fell sharply on Tuesday, 8 July 2008, under pressure from a stronger dollar and forecasts that eased worries about Hurricane Bertha. Crude oil for August delivery slumped 3.8% to $136.04 a barrel on the New York Mercantile Exchange.
Asian markets were trading higher today, 9 July 2008, tracking Wall Street gains and after crude oil prices retreated. China's Shanghai Composite rose 1.32% or 37.16 points at 2,852.11, Japan's Nikkei surged 1.82% or 237.17 points at 13,270.27, Hong Kong's Hang Seng gained 2.88% or 610.94 points at 21,831.75, Taiwan's Taiwan Weighted added 2.30% or 161.97 points at 7,213.82, Singapore's Straits Times advanced 1.28% or 37.09 points at 2,923.71 and South Korea's Seoul Composite was up 1.60% or 24.58 points at 1,558.05
US markets had another wild trading day of ups and downs but ended with decent gains on 8 July 2008, after oil prices retreated from record highs, easing concerns on consumer spending. The Dow Jones industrial average gained 152.25 points, or 1.36%, to 11,383.21. The S&P 500 advanced 21.39 points, or 1.71%, to 1,273.70, while the Nasdaq composite index added 51.10 points, or 2.28%, to 2,294.42.
Assured of the government's stability, market rebounded from early low as investor sentiment got a lift. The 30-share BSE Sensex lost 176.34 points or 1.3% at 13,349.65 and the broader based S&P CNX Nifty was down 41.45 points or 1.03% at 3,988.55, yesterday, 8 July 2008.
As per the provisional figures on NSE, the foreign institutional investors (FII)'s sold shares worth Rs 326.27 crore, while domestic funds bought shares worth Rs 427.27 crore on 8 July 2008.
Foreign institutional investors (FIIs) were net sellers of Rs 412.02 crore in the futures & options segment on 8 July 2008. They were net sellers of index futures to the tune of Rs 653.68 crore and bought index options worth Rs 122.36 crore. They were net buyers of stock futures to the tune of Rs 94.09 crore and purchased stock options worth Rs 25.21 crore
US crude oil futures fell sharply on Tuesday, 8 July 2008, under pressure from a stronger dollar and forecasts that eased worries about Hurricane Bertha. Crude oil for August delivery slumped 3.8% to $136.04 a barrel on the New York Mercantile Exchange.
Asian markets were trading higher today, 9 July 2008, tracking Wall Street gains and after crude oil prices retreated. China's Shanghai Composite rose 1.32% or 37.16 points at 2,852.11, Japan's Nikkei surged 1.82% or 237.17 points at 13,270.27, Hong Kong's Hang Seng gained 2.88% or 610.94 points at 21,831.75, Taiwan's Taiwan Weighted added 2.30% or 161.97 points at 7,213.82, Singapore's Straits Times advanced 1.28% or 37.09 points at 2,923.71 and South Korea's Seoul Composite was up 1.60% or 24.58 points at 1,558.05
US markets had another wild trading day of ups and downs but ended with decent gains on 8 July 2008, after oil prices retreated from record highs, easing concerns on consumer spending. The Dow Jones industrial average gained 152.25 points, or 1.36%, to 11,383.21. The S&P 500 advanced 21.39 points, or 1.71%, to 1,273.70, while the Nasdaq composite index added 51.10 points, or 2.28%, to 2,294.42.
Assured of the government's stability, market rebounded from early low as investor sentiment got a lift. The 30-share BSE Sensex lost 176.34 points or 1.3% at 13,349.65 and the broader based S&P CNX Nifty was down 41.45 points or 1.03% at 3,988.55, yesterday, 8 July 2008.
As per the provisional figures on NSE, the foreign institutional investors (FII)'s sold shares worth Rs 326.27 crore, while domestic funds bought shares worth Rs 427.27 crore on 8 July 2008.
Foreign institutional investors (FIIs) were net sellers of Rs 412.02 crore in the futures & options segment on 8 July 2008. They were net sellers of index futures to the tune of Rs 653.68 crore and bought index options worth Rs 122.36 crore. They were net buyers of stock futures to the tune of Rs 94.09 crore and purchased stock options worth Rs 25.21 crore
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