Key benchmark indices staged a late comeback after struggling in
the red for a major part of the day, boosted by fall in crude oil
prices and higher US stock futures. Banking and auto shares
recovered sharply from early lows. Volatility was high throughout
the day. The barometer index BSE Sensex saw wild swings above and
below the 15,000 mark. The market breadth was negative. European
shares edged higher while Asian markets were trading mixed.
US stock futures hinted higher opening on Wall Street. The Dow
Jones futures are up 0.3% while Nasdaq futures are up 0.4%. US
light crude slumped $2.06 to $117.96 a barrel today, 8 August 2008,
as supply concerns eased after an indication that a key oil
pipeline through Turkey, still burning after an explosion, may come
back on line earlier than some previous expectations.
India's inflation, represented by the wholesale price index (WPI),
rose 12.01% in the year to 26 July 2008, slightly above the
previous week's 11.98% rise. The reading was the highest in the
last 13 years. The figure was released after market hours
yesterday, 7 August 2008.
Science and Technology Minister Kapil Sibal today, 8 August 2008,
said the June-September monsoon rains have revived across the
country and are expected to be normal.
The BSE 30-share Sensex was up 50.57 points or 0.33% at 15,167.82.
It opened 80.68 points lower at 15,036.57 and slipped further to
hit an intra-day low of 14,888.12 in early afternoon trade. At the
day's low, the Sensex lost 229.13 points. At the day's high of
15,228.82 struck in mid-afternoon trade, the Sensex 111.57 gained
points.
The S&P CNX Nifty was up 5.65 points or 0.12% at 4529.50. Nifty
August 2008 futures were at 4549, at a premium of 19.50 points as
compared to spot closing.
The BSE Sensex is down 5,119.17 points or 25.23% in the calendar
year 2008 so far from its close of 20,286.99 on 31 December 2007.
It is 6038.95 points or 28.47% away from its all-time high of
21,206.77 struck on 10 January 2008.
Sentiment may remain cautious in the forthcoming week, as the
market regulator Securities & Exchange Board of India (Sebi) meets
on 13 August 2008 to review the rules relating to issuance of
Participatory Notes (PNs) by foreign portfolio investors, which it
had revised in October 2007. A review of securities lending &
borrowing mechanism, know your client (KYC) norms for FIIs and
status on launch of currency futures are likely to be discussed in
the meeting.
The market breadth was negative on BSE with 1409 shares declining
as compared to 1306 that advanced. 67 remained unchanged.
The BSE Mid-Cap index was up 0.09% to 5,886.97 and the BSE
Small-Cap index was up 0.21% to 7,181.74.
The total turnover on BSE amounted to Rs 5375 crore as compared to
Rs 5691 crore yesterday, 7 August 2008. NSE's futures & options
turnover amounted to Rs 49917.63 crore as compared to Rs 61180.08
crore yesterday, 7 August 2008.
Among the 30-member Sensex pack, 17 declined while the rest
advanced.
Banking and auto shares rebounded sharply from early lows. ICICI
Bank (up 2.80% to Rs 728.35, off day's low of Rs 683.10), and HDFC
Bank (up 1.54% to Rs 1273, off day's low of Rs 1225), advanced.
India's largest state-run bank in terms of net profit State Bank of
India fell marginally by 0.07% to Rs 1523. The stock came sharply
off the day's low of Rs 1477.40.
Fall in crude oil prices fuelled rally in auto stocks from day's
low. India's top truck maker by sales, Tata Motors recovered from
day's low of Rs 427. It ended 0.21% lower at Rs 443.25. Mahindra &
Mahindra, the nation's top tractor maker by sales ended 0.68% lower
at Rs 572.05 after hitting day's low of Rs 551.10.
India's top small car maker by sales Maruti Suzuki India rose 1.26%
to Rs 677, after sliding to day's day's low of Rs 655.05.
Oil and Natural Gas Corporation (ONGC), the country's largest oil
exploration company by market capitalisation surged 4.21% to Rs
1066.20. It was the top gainer from the Sensex pack. The company
reportedly plans to scale up its gas production in Tripura and has
revised the project cost to Rs 4376 crore from Rs 1817 crore.
India's third largest pharma company by sales, Cipla advanced 3.19%
to Rs 234.70. As per reports the hearing in the Delhi High Court
between Cipla and Swiss drug maker Roche has been adjourned to 11
August 2008. Roche had dragged Cipla to court due to patent
infringement of Roche's HIV/AIDS drug Valcyte by Cipla.
Capital goods heavyweights, Larsen & Toubro (up 3.02% to Rs
2841.05), and Bharat Heavy Electricals (up 0.30% to Rs 1780),
gained.
India's largest private sector steelmaker by sales, Tata Steel
gained 1.16% to Rs 650.25 after three straight days of fall. Top
steel producers have decided not to raise steel prices even as the
three month moratorium with the government on price freeze ended on
7 August 2008
Hindalco (up 2.04% to Rs 144.90), HDFC (up 1.35% to Rs 2510), and
NTPC (up 0.60% to Rs 184.55), edged higher from Sensex pack.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) was down 1.29% at Rs 2242 on
9.34 lakh shares. The stock recovered from day's low of Rs 2230.
Reliance Natural Resources (RNRL) gained 3.82% to Rs 104.75.
As per reports, the Bombay High Court (HC) has once again postponed
hearing on the RIL-RNRL case till 12 August 2008. The court will
decide in its next hearing whether the government can intervene in
this case at this stage. The government had filed a petition in the
HC to become a party to the case, supporting RIL.
Cement counters slipped on selling pressure. North India's largest
cement producer Ambuja Cements lost 3.66% to Rs 86.85 on 4.77 lakh
shares. It was the top loser from the Sensex pack.
Other cement counters, Grasim (down 2.65% to Rs 2034), and ACC
(down 1.89% to Rs 627), declined.
India's largest cigarette maker in terms of sales ITC was down
0.63% to Rs 190.50 on reports the company may hike prices of some
of its premium brands by end-August 2008.
Frontline telecom shares slipped. Bharti Airtel, the nation's top
mobile operator by revenue lost 1.18% to Rs 840.15. The company
yesterday, 6 August 2008, said it would launch Apple Inc's
third-generation iPhone in India on 22 August 2008.
India's number two cellular services provider in terms of market
capitalisation Reliance Communications (RCom) was down 0.07% to Rs
438.25. According to recent reports, the company is all set to
float a $500-million tender for GSM 3G networks. At present, RCom
is predominantly a CDMA-based operator which is now looking at 3G
services only in the GSM space.
IT pivotals were under selling pressure. Wipro (down 2.68% to Rs
436.50), TCS (down 1.10% to Rs 842.05), Satyam Computer Services
(down 2.03% to Rs 408.10), and Infosys (down 2.78% to Rs 1673.55),
edged lower.
Interest rate sensitive realty shares declined. DLF (down 0.91% to
Rs 549.80), Parsvnath Developers (down 1.49% to Rs 126.50), Unitech
(down 1.39% to Rs 176.90), fell from the realty space.
Ranbaxy (down 0.14% to Rs 503.25), and Jaiprakash Associates (down
2% to Rs 183.65), and edged lower from the Sensex pack.
Reliance Capital topped turnover charts on BSE notching turnover of
Rs 346.35 crore followed by Reliance Natural Resources (Rs 293.50
crore), Reliance Industries (Rs 211 crore), ICICI Bank (Rs 193.80
crore) and Larsen & Toubro (Rs 178.40 crore), in that order.
Reliance Natural Resources was the volume topper clocking volumes
of 2.90 crore shares followed by Chambal Fertilisers & Chemicals
(1.62 crore shares), Nagarjuna Fertilisers (1.35 crore shares),
Ispat Industries (1.05 crore shares) and IFCI (88.70 lakh shares),
in that order.
Fertilizer shares edged higher on reports the government approved
the investment policy for urea, linking cost of production to the
import parity price, a key demand of the industry.
National Fertilizer (up 5% at Rs 60.45), Rastriya Chemical &
Fertilizer (up 2.08% at Rs 68.70), Nagarjuna Fertilizers &
Chemicals (up 3.22% at Rs 41.65), Chambal Fertilizers & Chemicals
(up 2.65% at Rs 81.50), and Tata Chemicals (up 7.46% at Rs 350),
spurted.
Among side counters, Noida Toll Bridge (up 14.40% to Rs 42.90),
Zuari Industries (up 20% to Rs 327.70), and MRO Teck (up 20% to Rs
61), surged.
Josts Engineering (down 11.40% to Rs 264.90), Hester Pharma (down
10.26% to Rs 105), and Man Aluminium (down 9.88% to Rs 34.20),
slipped.
Shares of state-run oil marketing companies slipped. Hindustan
Petroleum Corporation (down 3.5% to Rs 229.60), Bharat Petroleum
Corporation (down 3.25% to Rs 318.30), and Indian Oil Corporation
(down 2.32% to Rs 432.50), slipped.
Financial Technologies (India) jumped 2.53% to Rs 1405 on reports
its subsidiary, the Multi Commodity Exchange, has sought regulatory
nod for trading in currency futures. Financial Technologies holds
32% in the Multi Commodity Exchange (MCX).
SEL Manufacturing Company plunged 20% to Rs 500.90 even as the
company received an export order for supplying 1.1 million pieces
of readymade garments to a Russian customer. The company made this
announcement during trading hours today, 8 August 2008.
Cairn India slipped 5.31% to Rs 232.50 on reports the government
could impose a special tax on oil firms' incremental revenues
beyond $75 per barrel as part of the subsidy-sharing regime of the
oil sector.
Shanthi Gears surged 9.27% to Rs 73.65 on reports Suzlon Energy,
through its Belgium-based unit, is planning to buy 50% and 100%
stake in Shanthi Gears at around a 30% premium to the market price.
Housing Development & Infrastructure rose 2.84% to Rs 495.40 after
the Reserve Bank of India on Thursday, 7 August 2008, raised
foreign institutional investors limit in the company to 100%.
European markets, which opened after Indian market, edged higher.
Key benchmark indices in France, UK and Germany were up by between
0.13% and 0.58%.
Asian markets were trading mixed today, 8 August 2008. Key
benchmark indices in Taiwan, Japan, and South Korea were up by
between 0.30% and 2.63%. However indices in China, Hong Kong and
Singapore were down 0.69% and 4.47% respectively.
US stocks declined yesterday, 7 August 2008, after American
International Group (AIG) posted its third consecutive quarterly
loss of more than $5 billion, which fueled fears of more fallout
from the credit crisis. Wal-Mart's cautious sales forecast added to
concerns about consumer spending.
The Dow Jones Industrial Average slumped 224.64 points, or 1.93% to
11,431.43, the Standard & Poor's 500 index fell 23.11 points, or
1.79% to 1,266.08, while the Nasdaq Composite index dropped 22.64
points, or 0.95% to 2,355.73.
The European Central Bank and the Bank of England both left their
benchmark interest rates unchanged at 4.25% and 5% respectively in
a meeting yesterday, 7 August 2008, as they ponder how best to
steer their economies between the shoals of mounting inflation and
slowing growth.
Friday, August 8, 2008
Pre Market Report 08/08/2008
Key benchmark indices are likely to see lower opening tracking negative global cues. Also rise in crude oil prices from 3-month low and inflation topping the 12% mark may weigh on the sentiment.
Inflation, represented by the wholesale price index (WPI), rose 12.01% in the year-to-26 July 2008, slightly above the previous week's 11.98%. It's the highest inflation in the last 13 years. The figures were released after market hours yesterday, 7 August 2008.
The Reserve Bank of India (RBI) is likely to continue with its tight monetary stance to counter the surge in headline inflation rate, C Rangarajan, chairman, Prime Minister's Economic Advisory Council, said yesterday, 7 August 2008. He added that the inflation rate is likely to moderate to 8-9% by March 2009, which is still way higher than the central bank's revised forecast of close to 7% for the current fiscal.
On the New York Mercantile Exchange, September crude gained $1.44 at $120.02 a barrel yesterday, 7 August 2008, as pipeline shutdown in Turkey due to an explosion raised supply worries.
Meanwhile, the European Central Bank and the Bank of England both left their benchmark interest rates unchanged at 4.25% and 5% respectively in a meeting scheduled yesterday, 7 August 2008, as they ponder how best to steer their economies between the shoals of mounting inflation and slowing growth.
Asian markets were trading mixed today, 8 August 2008. China's Shanghai Composite lost 0.42% or 11.36 points at 2,716.21, Japan's Nikkei was down 0.56% or 74.03 points at 13,050.96, Singapore's Straits Times fell 0.63% or 17.81 points at 2,816.90. However, Hong Kong's Hang Seng was up 0.04% or 7.95 points at 22,112.15, Taiwan's Taiwan Weighted gained 1.51% or 106.04 points at 7,130.62 and South Korea's Seoul Composite rose 0.41% or 6.35 points at 1,570.35
US stocks declined yesterday, 7 August 2008, after American International Group (AIG) posted its third consecutive quarterly loss of more than $5 billion, which fueled fears of more fallout from the credit crisis. Wal-Mart's cautious sales forecast added to concerns about consumer spending.
The Dow Jones Industrial Average slumped 224.64 points, or 1.93% to 11,431.43, the Standard & Poor's 500 index fell 23.11 points, or 1.79% to 1,266.08, while the Nasdaq Composite index dropped 22.64 points, or 0.95% to 2,355.73.
Back home, key benchmark indices finished with modest gains yesterday, 7 August 2008, after swinging sharply either ways. The BSE Sensex rose 43.71 points or 0.29% to 15,117.25 and the S&P CNX Nifty gained 6.3 points or 0.14% at 4523.85.
Foreign institutional investors (FIIs) were net equity sellers worth Rs 223.19 crore while mutual funds purchased shares worth Rs 24.10 crore yesterday, 7 August 2008, according to provisional data on NSE.
FIIs were net sellers of Rs 225.81 crore in the futures & options segment yesterday, 7 August 2008. They were net buyers of index futures to the tune of Rs 117.81 crore and sold index options worth Rs 69.66 crore. They were net sellers of stock futures to the tune of Rs 276.82 crore and bought stock options worth Rs 2.82 crore.
Inflation, represented by the wholesale price index (WPI), rose 12.01% in the year-to-26 July 2008, slightly above the previous week's 11.98%. It's the highest inflation in the last 13 years. The figures were released after market hours yesterday, 7 August 2008.
The Reserve Bank of India (RBI) is likely to continue with its tight monetary stance to counter the surge in headline inflation rate, C Rangarajan, chairman, Prime Minister's Economic Advisory Council, said yesterday, 7 August 2008. He added that the inflation rate is likely to moderate to 8-9% by March 2009, which is still way higher than the central bank's revised forecast of close to 7% for the current fiscal.
On the New York Mercantile Exchange, September crude gained $1.44 at $120.02 a barrel yesterday, 7 August 2008, as pipeline shutdown in Turkey due to an explosion raised supply worries.
Meanwhile, the European Central Bank and the Bank of England both left their benchmark interest rates unchanged at 4.25% and 5% respectively in a meeting scheduled yesterday, 7 August 2008, as they ponder how best to steer their economies between the shoals of mounting inflation and slowing growth.
Asian markets were trading mixed today, 8 August 2008. China's Shanghai Composite lost 0.42% or 11.36 points at 2,716.21, Japan's Nikkei was down 0.56% or 74.03 points at 13,050.96, Singapore's Straits Times fell 0.63% or 17.81 points at 2,816.90. However, Hong Kong's Hang Seng was up 0.04% or 7.95 points at 22,112.15, Taiwan's Taiwan Weighted gained 1.51% or 106.04 points at 7,130.62 and South Korea's Seoul Composite rose 0.41% or 6.35 points at 1,570.35
US stocks declined yesterday, 7 August 2008, after American International Group (AIG) posted its third consecutive quarterly loss of more than $5 billion, which fueled fears of more fallout from the credit crisis. Wal-Mart's cautious sales forecast added to concerns about consumer spending.
The Dow Jones Industrial Average slumped 224.64 points, or 1.93% to 11,431.43, the Standard & Poor's 500 index fell 23.11 points, or 1.79% to 1,266.08, while the Nasdaq Composite index dropped 22.64 points, or 0.95% to 2,355.73.
Back home, key benchmark indices finished with modest gains yesterday, 7 August 2008, after swinging sharply either ways. The BSE Sensex rose 43.71 points or 0.29% to 15,117.25 and the S&P CNX Nifty gained 6.3 points or 0.14% at 4523.85.
Foreign institutional investors (FIIs) were net equity sellers worth Rs 223.19 crore while mutual funds purchased shares worth Rs 24.10 crore yesterday, 7 August 2008, according to provisional data on NSE.
FIIs were net sellers of Rs 225.81 crore in the futures & options segment yesterday, 7 August 2008. They were net buyers of index futures to the tune of Rs 117.81 crore and sold index options worth Rs 69.66 crore. They were net sellers of stock futures to the tune of Rs 276.82 crore and bought stock options worth Rs 2.82 crore.
Thursday, August 7, 2008
Post Market Report:07/08/2008
Key benchmark indices ended with marginal gains after swinging
wildly. The market breadth was just about positive. Turnover on BSE
remained dull. European markets recovered after weak start. Asian
markets were trading mixed.
The Bank of England left interest rate unchanged at 5% at its
meeting today, 7 August 2008. The European Central Bank which also
meets today is expected to hold interest rates at 4.25%.
The Indian government will release the weekly inflation data today,
7 August 2008, evening. Inflation measured by wholesale price index
is forecast to have risen 12.02% in the 12 months to 26 July 2008,
up from previous week's rise of 11.98%.
The BSE 30-share Sensex rose 43.71 points or 0.29% at 15,117.25. At
the day's high of 15,280.06 struck in mid-afternoon trade, the
Sensex gained 206.52 points. Sensex opened 41.68 points lower at
15,031.86 and slipped further to hit an intra-day low of 14,992.97
in early trade. At the day's low, the Sensex lost 80.57 points.
The S&P CNX Nifty was up 6.30 points or 0.14% at 4523.85. Nifty
August 2008 futures were at 4530.75, a premium of 6.9 points over
spot closing.
The BSE Sensex is down 5,169.74 points or 25.48% in the calendar
year 2008 so far from its close of 20,286.99 on 31 December 2007.
It is 6,089.52 points or 28.71% away from its all-time high of
21,206.77 struck on 10 January 2008.
The market breadth was just about positive on BSE with 1381 shares
advancing as compared to 1262 that declined. 84 remained unchanged.
The BSE Mid-Cap index was up 0.45% to 5,881.60 and the BSE
Small-Cap index gained 0.32% to 7,166.99. Both these indices
outperformed the Sensex.
Turnover was dull today. The total turnover on BSE amounted to Rs
5,641 crore as compared to Rs 7,203 crore yesterday, 6 August 2008.
Sectoral indices on BSE displayed mixed trend. The BSE auto index
(up 1.21% at 3967.03), BSE IT index (up 0.80% at 3954.87), BSE
Realty index (up 0.69% at 5580.88), Bankex (up 0.66% at 7283.15),
BSE FMCG index (up 0.53% at 2191.05), BSE Oil & Gas index (down
0.34% at 10153.07), BSE Consumer Durables (up 2.86% to 3,977.97),
outperformed the Sensex.
The BSE Metal index (up 0.21% at 12885.97), BSE Healthcare (up
0.28% at 4269.87), BSE Capital goods (down 0.70% at 12394.90), BSE
Power index (down 0.47% at 2686.46), BSE TecK (down 0.10% to
3,123.98), BSE PSU (down 0.36% to 7,025.66), underperformed the
Sensex.
Among the 30-member Sensex pack, 20 advanced while the rest
slipped.
Auto shares advanced for the third straight day and dominated
Sensex gainers. India's top truck maker in terms of sales, Tata
Motors surged 4.28% to Rs 445 on 2.84 lakh shares. It was the top
gainer from the Sensex pack.
Maruti Suzuki India (up 2.33% to Rs 668), and Mahindra & Mahindra
(up 2.14% to Rs 574.05), also logged gains from auto pack.
Frontline banking shares were firm ahead of inflation data. HDFC
Bank (up 3.25% to Rs 1256.25), State Bank of India (up 0.10% to Rs
1525), and ICICI Bank (up 0.74% to Rs 712), gained.
Cement shares rose despite recent reports that they could find it
difficult to raise prices when the moratorium on price freeze ends
on 14 August 2008. Ambuja Cements (up 1.93% to Rs 90), Grasim (up
1.52% to Rs 2069.60), and ACC (up 0.09% to Rs 638.20), edged higher
from the cement pack. In May 2008, cement firms had agreed to hold
prices for three months to help the government contain skyrocketing
inflation.
India's largest dedicated housing finance company in terms of
revenue Housing Development Finance Corporation vaulted 3.36% to Rs
2476.40 on reports the company is in talks with GE Money to buy the
latter's Indian home loan business.
Real estate stocks advanced on fresh buying. DLF (up 2.28% to Rs
557), Parsvnath Developers (up 3.78% to Rs 129.20), Omaxe (up 3.51%
to Rs 138.60), and Unitech (up 1.27% to Rs 179.40), logged gains
from the realty space.
IT pivotals were mixed. Wipro (down 1.63% to Rs 446.20), and TCS
(down 1.56% to Rs 845.05), slipped.
India's fourth largest software services exporter Satyam Computer
Services advanced 2.23% to Rs 416.50. As per recent reports, the
company is pursuing 15-20 deals of over $50 million each and is
eyeing buyouts in the Asia Pacific, US, and European continents.
India's second largest software services exporter Infosys gained
1.29% to Rs 1720.20
Oil and Natural Gas Corporation (ONGC), the country's largest oil
exploration company by market capitalisation gained 0.40% to Rs
1020. The company reportedly plans to scale up its gas production
in Tripura and has revised the project cost to Rs 4376 crore from
Rs 1817 crore.
NTPC (up 1.66% to Rs 183.25), and Jaiprakash Associates (up 1.55%
to Rs 188), edged higher from the Sensex pack.
India's largest power equipment maker by sales, Bharat Heavy
Electricals lost 3.53% to Rs 1763 on reports the government blamed
the company for delaying the projects causing acute shortage of
electricity in various parts of the country.
India's largest pharma company in terms of sales Ranbaxy
Laboratories fell 1.28% to Rs 506. The government gave its approval
to Daiichi Sankyo's proposed acquisition of shares in the company.
It was the top loser from Sensex pack.
Frontline telecom shares slipped. Bharti Airtel, the nation's top
mobile operator by revenue lost 1.46% to Rs 857. The company
yesterday, 6 August 2008, said it would launch Apple Inc's
third-generation iPhone in India on 22 August 2008.
India's number two cellular services provider in terms of market
capitalisation Reliance Communications (RCom) was down 1.71% to Rs
438.65. According to recent reports, the company is all set to
float a $500-million tender for GSM 3G networks. At present, RCom
is predominantly a CDMA-based operator which is now looking at 3G
services only in the GSM space.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) was down 1.45% at Rs 2262.50
on 10.30 lakh shares. The stock moved in a range of Rs 2315.25 and
Rs 2248.60 so in the day. However, Reliance Natural Resources
(RNRL) was up 0.70% to Rs 100.95.
As per reports, the Bombay High Court (HC) has once again postponed
hearing on the RIL-RNRL case till 12 August 2008. The court will
decide in its next hearing whether the government can intervene in
this case at this stage. The government had filed a petition in the
HC to become a party to the case, supporting RIL.
India's largest private sector steelmaker by sales, Tata Steel fell
0.54% to Rs 642.15 on reports top steel producers have decided not
to raise steel prices even as the three month moratorium with the
government on price freeze ends today, 7 August 2008.
Hindustan Unilever (down 1.45% to Rs 242.15), and Larsen & Toubro
(down 0.34% to Rs 2754), edged lower from the Sensex pack.
Reliance Capital topped turnover charts on BSE clocking turnover of
Rs 342.50 crore followed by Reliance Natural Resources (Rs 296
crore), Reliance Industries (Rs 235.80 crore), SEL Manufacturing
(Rs 228 crore) and ONGC (Rs 137.80 crore) in that order.
Reliance Natural Resources topped volumes chart on BSE notching
volumes of 2.92 crore shares followed by Ispat Industries (1.41
crore shares), Tata Teleservices (Maharashtra) (1.19 crore shares),
Kashyap Technologies (88.30 lakh shares) and Chambal Fertilisers &
Chemicals (86 lakh shares).
SEL Manufacturing saw heightened activity on high volumes. From the
day's low of Rs 530, the stock galloped to strike a day's high of
Rs 627.80. The stock settled with gain of 6.55% to Rs 609.70 on
high volumes of 38.56 lakh shares.
Shiv Vani Oil & Gas Exploration Services jumped 5.16% to Rs 576
after the company said secured a contract worth Rs 1610 crore from
Oil & Natural Gas Corporation to deploy eight onshore deep drilling
rigs. The company made this announcement during trading hours
today, 7 August 2008.
Dr Reddy's Laboratories surged 4.02% to Rs 606.10 after the company
said Dr Reddy's Laboratories Holdings, a promoter group firm,
acquired 1.95 lakh equity shares from
Elecon Engineering Company soared 9.76% to Rs 117.55 after the
company said Emtici Engineering, a promoter, purchased 1.07 lakh
equity shares on 16 July 2008 from open market. The company made
this announcement after trading hours on Wednesday, 6 August 2008.
Ansal Properties & Infrastructure spurted 15.85% to Rs 105.60 after
9.8 lakh shares or 0.86% of the company's equity changed hands in a
block deal on BSE at Rs 92 each. open market for Rs 11.36 crore.
US crude rose 26 cents to $118.84 a barrel today, 7 August 2008.
The contract is almost 20% off the record of $147.27 a barrel hit
on 11 July 2008.
European markets, which opened after Indian market, edged higher.
Key benchmark indices in UK, Germany and France were up by between
0.48% and 0.98%.
Asian markets, which opened before Indian market, were trading
mixed today, 7 August 2008. Key benchmark indices in Japan, Taiwan
Singapore, and South Korea were down by between 0.02% and 1.80%.
However Hong Kong's Hang Seng index and China's Shanghai Composite
were up 0.70% and 0.30% respectively.
US stocks rose on Wednesday, building on the previous day's big
gains, as a further drop in oil prices and a reassuring outlook
from Cisco Systems overshadowed persistent credit concerns. The Dow
Jones industrial average added 40.30 points, or 0.35%, to
11,656.07. The Nasdaq Composite index rose 28.54 points, or 1.21%,
to 2,378.37
wildly. The market breadth was just about positive. Turnover on BSE
remained dull. European markets recovered after weak start. Asian
markets were trading mixed.
The Bank of England left interest rate unchanged at 5% at its
meeting today, 7 August 2008. The European Central Bank which also
meets today is expected to hold interest rates at 4.25%.
The Indian government will release the weekly inflation data today,
7 August 2008, evening. Inflation measured by wholesale price index
is forecast to have risen 12.02% in the 12 months to 26 July 2008,
up from previous week's rise of 11.98%.
The BSE 30-share Sensex rose 43.71 points or 0.29% at 15,117.25. At
the day's high of 15,280.06 struck in mid-afternoon trade, the
Sensex gained 206.52 points. Sensex opened 41.68 points lower at
15,031.86 and slipped further to hit an intra-day low of 14,992.97
in early trade. At the day's low, the Sensex lost 80.57 points.
The S&P CNX Nifty was up 6.30 points or 0.14% at 4523.85. Nifty
August 2008 futures were at 4530.75, a premium of 6.9 points over
spot closing.
The BSE Sensex is down 5,169.74 points or 25.48% in the calendar
year 2008 so far from its close of 20,286.99 on 31 December 2007.
It is 6,089.52 points or 28.71% away from its all-time high of
21,206.77 struck on 10 January 2008.
The market breadth was just about positive on BSE with 1381 shares
advancing as compared to 1262 that declined. 84 remained unchanged.
The BSE Mid-Cap index was up 0.45% to 5,881.60 and the BSE
Small-Cap index gained 0.32% to 7,166.99. Both these indices
outperformed the Sensex.
Turnover was dull today. The total turnover on BSE amounted to Rs
5,641 crore as compared to Rs 7,203 crore yesterday, 6 August 2008.
Sectoral indices on BSE displayed mixed trend. The BSE auto index
(up 1.21% at 3967.03), BSE IT index (up 0.80% at 3954.87), BSE
Realty index (up 0.69% at 5580.88), Bankex (up 0.66% at 7283.15),
BSE FMCG index (up 0.53% at 2191.05), BSE Oil & Gas index (down
0.34% at 10153.07), BSE Consumer Durables (up 2.86% to 3,977.97),
outperformed the Sensex.
The BSE Metal index (up 0.21% at 12885.97), BSE Healthcare (up
0.28% at 4269.87), BSE Capital goods (down 0.70% at 12394.90), BSE
Power index (down 0.47% at 2686.46), BSE TecK (down 0.10% to
3,123.98), BSE PSU (down 0.36% to 7,025.66), underperformed the
Sensex.
Among the 30-member Sensex pack, 20 advanced while the rest
slipped.
Auto shares advanced for the third straight day and dominated
Sensex gainers. India's top truck maker in terms of sales, Tata
Motors surged 4.28% to Rs 445 on 2.84 lakh shares. It was the top
gainer from the Sensex pack.
Maruti Suzuki India (up 2.33% to Rs 668), and Mahindra & Mahindra
(up 2.14% to Rs 574.05), also logged gains from auto pack.
Frontline banking shares were firm ahead of inflation data. HDFC
Bank (up 3.25% to Rs 1256.25), State Bank of India (up 0.10% to Rs
1525), and ICICI Bank (up 0.74% to Rs 712), gained.
Cement shares rose despite recent reports that they could find it
difficult to raise prices when the moratorium on price freeze ends
on 14 August 2008. Ambuja Cements (up 1.93% to Rs 90), Grasim (up
1.52% to Rs 2069.60), and ACC (up 0.09% to Rs 638.20), edged higher
from the cement pack. In May 2008, cement firms had agreed to hold
prices for three months to help the government contain skyrocketing
inflation.
India's largest dedicated housing finance company in terms of
revenue Housing Development Finance Corporation vaulted 3.36% to Rs
2476.40 on reports the company is in talks with GE Money to buy the
latter's Indian home loan business.
Real estate stocks advanced on fresh buying. DLF (up 2.28% to Rs
557), Parsvnath Developers (up 3.78% to Rs 129.20), Omaxe (up 3.51%
to Rs 138.60), and Unitech (up 1.27% to Rs 179.40), logged gains
from the realty space.
IT pivotals were mixed. Wipro (down 1.63% to Rs 446.20), and TCS
(down 1.56% to Rs 845.05), slipped.
India's fourth largest software services exporter Satyam Computer
Services advanced 2.23% to Rs 416.50. As per recent reports, the
company is pursuing 15-20 deals of over $50 million each and is
eyeing buyouts in the Asia Pacific, US, and European continents.
India's second largest software services exporter Infosys gained
1.29% to Rs 1720.20
Oil and Natural Gas Corporation (ONGC), the country's largest oil
exploration company by market capitalisation gained 0.40% to Rs
1020. The company reportedly plans to scale up its gas production
in Tripura and has revised the project cost to Rs 4376 crore from
Rs 1817 crore.
NTPC (up 1.66% to Rs 183.25), and Jaiprakash Associates (up 1.55%
to Rs 188), edged higher from the Sensex pack.
India's largest power equipment maker by sales, Bharat Heavy
Electricals lost 3.53% to Rs 1763 on reports the government blamed
the company for delaying the projects causing acute shortage of
electricity in various parts of the country.
India's largest pharma company in terms of sales Ranbaxy
Laboratories fell 1.28% to Rs 506. The government gave its approval
to Daiichi Sankyo's proposed acquisition of shares in the company.
It was the top loser from Sensex pack.
Frontline telecom shares slipped. Bharti Airtel, the nation's top
mobile operator by revenue lost 1.46% to Rs 857. The company
yesterday, 6 August 2008, said it would launch Apple Inc's
third-generation iPhone in India on 22 August 2008.
India's number two cellular services provider in terms of market
capitalisation Reliance Communications (RCom) was down 1.71% to Rs
438.65. According to recent reports, the company is all set to
float a $500-million tender for GSM 3G networks. At present, RCom
is predominantly a CDMA-based operator which is now looking at 3G
services only in the GSM space.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) was down 1.45% at Rs 2262.50
on 10.30 lakh shares. The stock moved in a range of Rs 2315.25 and
Rs 2248.60 so in the day. However, Reliance Natural Resources
(RNRL) was up 0.70% to Rs 100.95.
As per reports, the Bombay High Court (HC) has once again postponed
hearing on the RIL-RNRL case till 12 August 2008. The court will
decide in its next hearing whether the government can intervene in
this case at this stage. The government had filed a petition in the
HC to become a party to the case, supporting RIL.
India's largest private sector steelmaker by sales, Tata Steel fell
0.54% to Rs 642.15 on reports top steel producers have decided not
to raise steel prices even as the three month moratorium with the
government on price freeze ends today, 7 August 2008.
Hindustan Unilever (down 1.45% to Rs 242.15), and Larsen & Toubro
(down 0.34% to Rs 2754), edged lower from the Sensex pack.
Reliance Capital topped turnover charts on BSE clocking turnover of
Rs 342.50 crore followed by Reliance Natural Resources (Rs 296
crore), Reliance Industries (Rs 235.80 crore), SEL Manufacturing
(Rs 228 crore) and ONGC (Rs 137.80 crore) in that order.
Reliance Natural Resources topped volumes chart on BSE notching
volumes of 2.92 crore shares followed by Ispat Industries (1.41
crore shares), Tata Teleservices (Maharashtra) (1.19 crore shares),
Kashyap Technologies (88.30 lakh shares) and Chambal Fertilisers &
Chemicals (86 lakh shares).
SEL Manufacturing saw heightened activity on high volumes. From the
day's low of Rs 530, the stock galloped to strike a day's high of
Rs 627.80. The stock settled with gain of 6.55% to Rs 609.70 on
high volumes of 38.56 lakh shares.
Shiv Vani Oil & Gas Exploration Services jumped 5.16% to Rs 576
after the company said secured a contract worth Rs 1610 crore from
Oil & Natural Gas Corporation to deploy eight onshore deep drilling
rigs. The company made this announcement during trading hours
today, 7 August 2008.
Dr Reddy's Laboratories surged 4.02% to Rs 606.10 after the company
said Dr Reddy's Laboratories Holdings, a promoter group firm,
acquired 1.95 lakh equity shares from
Elecon Engineering Company soared 9.76% to Rs 117.55 after the
company said Emtici Engineering, a promoter, purchased 1.07 lakh
equity shares on 16 July 2008 from open market. The company made
this announcement after trading hours on Wednesday, 6 August 2008.
Ansal Properties & Infrastructure spurted 15.85% to Rs 105.60 after
9.8 lakh shares or 0.86% of the company's equity changed hands in a
block deal on BSE at Rs 92 each. open market for Rs 11.36 crore.
US crude rose 26 cents to $118.84 a barrel today, 7 August 2008.
The contract is almost 20% off the record of $147.27 a barrel hit
on 11 July 2008.
European markets, which opened after Indian market, edged higher.
Key benchmark indices in UK, Germany and France were up by between
0.48% and 0.98%.
Asian markets, which opened before Indian market, were trading
mixed today, 7 August 2008. Key benchmark indices in Japan, Taiwan
Singapore, and South Korea were down by between 0.02% and 1.80%.
However Hong Kong's Hang Seng index and China's Shanghai Composite
were up 0.70% and 0.30% respectively.
US stocks rose on Wednesday, building on the previous day's big
gains, as a further drop in oil prices and a reassuring outlook
from Cisco Systems overshadowed persistent credit concerns. The Dow
Jones industrial average added 40.30 points, or 0.35%, to
11,656.07. The Nasdaq Composite index rose 28.54 points, or 1.21%,
to 2,378.37
IPO Listing - Vishal Information Technologies Ltd
Vishal Information Technologies Ltd's IPO Listing Info
IPO Listing Date: Monday, August 11, 2008
BSE Script Code: 533011
NSE Symbol: VITLINFO
Listing in: ‘B’ Group of Securities
ISIN: INE108J01014
Issue Price: Rs. 150/- per share
Face Value: Rs 10/- Per Equity Share
IPO Listing Date: Monday, August 11, 2008
BSE Script Code: 533011
NSE Symbol: VITLINFO
Listing in: ‘B’ Group of Securities
ISIN: INE108J01014
Issue Price: Rs. 150/- per share
Face Value: Rs 10/- Per Equity Share
Auto stocks gain
The market breadth was strong on BSE with 1294 shares advancing as
compared to 822 that declined. 67 remained unchanged.
The BSE Mid-Cap index was up 0.84% to 5,904.41 and the BSE
Small-Cap index gained 0.65% to 7,189.64.
The total turnover on BSE amounted to Rs 1685 crore by 11:30 IST as
compared to Rs 566 crore by 10:30 IST.
Among the 30-member Sensex pack, 22 advanced while the rest
slipped.
Auto shares advanced for the third straight day and dominated
Sensex gainers. India's top truck maker in terms of sales, Tata
Motors surged 4% to Rs 443.75 on 1.35 lakh shares. It was the top
gainer from the Sensex pack.
Maruti Suzuki India (up 2.63% to Rs 670), Hero Honda Motors (up
0.60% to Rs 824), Ashok Leyland (up 2% to Rs 33.25), and Mahindra &
Mahindra (up 3.56% to Rs 582), also logged gains from auto pack.
India's largest dedicated housing finance company in terms of
revenue Housing Development Finance Corporation surged 2.89% to Rs
2465 on reports the company is in talks with GE Money to buy the
latter's Indian home loan business.
Reliance Infrastructure (up 1.98% to Rs 1031), Satyam Computer
Services (up 1.77% to Rs 414.65), and NTPC (up 1.69% to Rs 183.30),
edged higher from the Sensex pack.
Banking shares were firm ahead of the inflation data. HDFC Bank (up
2.25% to Rs 1244), ICICI Bank (up 0.66% to Rs 711.50), and State
Bank of India (up 0.30% to Rs 1528.25) gained.
India's largest private sector steelmaker by sales, Tata Steel
rebounded after two straight days of fall. The stock rose 2.25% to
Rs 660.20. The stock had hit a low of Rs 640 in early trade.
India's largest pharma company in terms of sales Ranbaxy
Laboratories rose 0.69% to Rs 516.15 after the government gave its
approval to Daiichi Sankyo's proposed acquisition of shares in the
company.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) was down marginally by 0.03%
at Rs 2295.25 on 3.76 lakh shares. The stock moved in a range of Rs
2315.25 and Rs 2248.60 so far during the day.
Bharti Airtel, the nation's top mobile operator by revenue lost
2.76% to Rs 845.70. It was the top loser from Sensex pack. The
company yesterday, 6 August 2008, said it would launch Apple Inc's
third-generation iPhone in India on 22 August 2008.
ACC (down 1.82% to Rs 626), Bhel (down 1.05% to Rs 1808) and Grasim
(down 1.40% to Rs 2010) edged lower from Sensex pack.
Among the side counters, Ledo Tea (up 13.71% to Rs 53.90), Safar
Industries (up 11.11% to Rs 30), and Bajaj Auto Finance (up 10.65%
to Rs 133), surged.
Bharat Forge fell 1.50% to Rs 265.65 following reports the firm
plans to foray into manufacturing of ultra heavy forgings catering
to the power sector, including nuclear plants.
Simplex Castings spurted 11.78% to Rs 56 after the company said
that its consortium with Hyundai Heavy Industries won an order
worth Rs 62.58 crore from Steel Authority of India. The company
made this announcement after trading hours on Wednesday, 6 August
2008.
US crude rose 26 cents to $118.84 a barrel today, 7 August 2008.
The contract is almost 20% off the record of $147.27 a barrel hit
on 11 July 2008.
Most Asian markets were trading lower today, 7 August 2008. Key
benchmark indices in Japan, China, Taiwan Singapore, and South
Korea were down by between 0.02% and 1.69%. However Hong Kong's
Hang Seng index was up 0.59%.
compared to 822 that declined. 67 remained unchanged.
The BSE Mid-Cap index was up 0.84% to 5,904.41 and the BSE
Small-Cap index gained 0.65% to 7,189.64.
The total turnover on BSE amounted to Rs 1685 crore by 11:30 IST as
compared to Rs 566 crore by 10:30 IST.
Among the 30-member Sensex pack, 22 advanced while the rest
slipped.
Auto shares advanced for the third straight day and dominated
Sensex gainers. India's top truck maker in terms of sales, Tata
Motors surged 4% to Rs 443.75 on 1.35 lakh shares. It was the top
gainer from the Sensex pack.
Maruti Suzuki India (up 2.63% to Rs 670), Hero Honda Motors (up
0.60% to Rs 824), Ashok Leyland (up 2% to Rs 33.25), and Mahindra &
Mahindra (up 3.56% to Rs 582), also logged gains from auto pack.
India's largest dedicated housing finance company in terms of
revenue Housing Development Finance Corporation surged 2.89% to Rs
2465 on reports the company is in talks with GE Money to buy the
latter's Indian home loan business.
Reliance Infrastructure (up 1.98% to Rs 1031), Satyam Computer
Services (up 1.77% to Rs 414.65), and NTPC (up 1.69% to Rs 183.30),
edged higher from the Sensex pack.
Banking shares were firm ahead of the inflation data. HDFC Bank (up
2.25% to Rs 1244), ICICI Bank (up 0.66% to Rs 711.50), and State
Bank of India (up 0.30% to Rs 1528.25) gained.
India's largest private sector steelmaker by sales, Tata Steel
rebounded after two straight days of fall. The stock rose 2.25% to
Rs 660.20. The stock had hit a low of Rs 640 in early trade.
India's largest pharma company in terms of sales Ranbaxy
Laboratories rose 0.69% to Rs 516.15 after the government gave its
approval to Daiichi Sankyo's proposed acquisition of shares in the
company.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) was down marginally by 0.03%
at Rs 2295.25 on 3.76 lakh shares. The stock moved in a range of Rs
2315.25 and Rs 2248.60 so far during the day.
Bharti Airtel, the nation's top mobile operator by revenue lost
2.76% to Rs 845.70. It was the top loser from Sensex pack. The
company yesterday, 6 August 2008, said it would launch Apple Inc's
third-generation iPhone in India on 22 August 2008.
ACC (down 1.82% to Rs 626), Bhel (down 1.05% to Rs 1808) and Grasim
(down 1.40% to Rs 2010) edged lower from Sensex pack.
Among the side counters, Ledo Tea (up 13.71% to Rs 53.90), Safar
Industries (up 11.11% to Rs 30), and Bajaj Auto Finance (up 10.65%
to Rs 133), surged.
Bharat Forge fell 1.50% to Rs 265.65 following reports the firm
plans to foray into manufacturing of ultra heavy forgings catering
to the power sector, including nuclear plants.
Simplex Castings spurted 11.78% to Rs 56 after the company said
that its consortium with Hyundai Heavy Industries won an order
worth Rs 62.58 crore from Steel Authority of India. The company
made this announcement after trading hours on Wednesday, 6 August
2008.
US crude rose 26 cents to $118.84 a barrel today, 7 August 2008.
The contract is almost 20% off the record of $147.27 a barrel hit
on 11 July 2008.
Most Asian markets were trading lower today, 7 August 2008. Key
benchmark indices in Japan, China, Taiwan Singapore, and South
Korea were down by between 0.02% and 1.69%. However Hong Kong's
Hang Seng index was up 0.59%.
performance of calls given today(07th Aug)
Today's High for Atlanta : Rs.203.35
Today's High for ACC Ltd : Rs. 644.80
Today's High for ACC Ltd : Rs. 644.80
Pre Market Report 07/08/2008
Local bourses are likely to stay range-bound amidst mixed global cues. However volatility is expected to be high ahead of the inflation data that will be released after market hours today, 7 August 2008. Inflation measured by wholesale price index is forecast to have risen 12.02% in the 12 months to 26 July 2008, up from previous week's rise of 11.98%.
US crude rose 26 cents to $118.84 a barrel today, 7 August 2008 on fears over slowing US demand. The contract is almost 20% off the record of $147.27 a barrel hit on 11 July 2008.
Meanwhile, Prime Minister's Economic Advisory Council (EAC) Chairman C. Rangarajan on Wednesday, 6 August 2008 projected a moderation in India's economic growth to 7.5-8% this fiscal with no change in the Reserve Bank's monetary stance until inflation cools down to reasonable levels. He expects the rate of inflation to ease to 8-9% by the end of the current fiscal in March 2009 from the prevailing level of close to 12%.
Asian markets were trading mixed today, 7 August 2008. China's Shanghai Composite rose 0.69% or 18.74 points at 2,738.11, Hong Kong's Hang Seng gained 1.30% or 285.76 points at 22,235.51. However, Japan's Nikkei plunged 1.21% or 161 points at 13,093.89, Taiwan's Taiwan Weighted slipped 0.04% or 2.46 points at 7,023.78, Singapore's Straits Times was down 1.14% or 33.02 points at 2,853.76 and South Korea's Seoul Composite lost 1.20% or 19.02 points at 1,559.69.
US stocks advanced on Wednesday, 6 August 2008 as a drop in oil prices and a better-than-expected profit report from the technology major Cisco Systems helped ease worries about the financial sector. The Dow Jones industrial average added 40.30 points, or 0.35%, to 11,656.07. The Nasdaq Composite index rose 28.54 points, or 1.21%, to 2,378.37.
Back home, stocks ended volatile session slightly higher extending gains for the second straight day yesterday, 6 August 2008. The BSE 30-share Sensex rose 112.47 points or 0.75% to 15,073.54 and the S&P CNX Nifty rose 14.70 points or 0.33% to 4,517.55, yesterday 6 August 2008.
The BSE Sensex is down 5,213.45 points or 25.69% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6,133.23 points or 28.92% away from its all-time high of 21,206.77 struck on 10 January 2008.
Foreign institutional investors were net equity buyers worth Rs 1815.74 crore while mutual funds sold shares worth Rs 804.36 crore yesterday, 6 August 2008, according to provisional data on NSE.
Foreign institutional investors (FIIs) were net buyers of Rs 2364.20 crore in the futures & options segment yesterday, 6 August 2008. They were net buyers of index futures to the tune of Rs 2332.22 crore and bought index options worth Rs 160.56 crore. They were net sellers of stock futures to the tune of Rs 152.83 crore and bought stock options worth Rs 2364.20 crore.
Meanwhile, the Reserve Bank of India (RBI) on Wednesday, 7 August 2008 allowed exchange-traded currency futures by putting out guidelines on the same. Three exchanges have applied to the Securities and Exchange Board of India to start the currency futures --- the Bombay Stock Exchange, the National Stock Exchange and MCX.
The Centre's direct tax revenues continue to be buoyant, with net collections recording a 46.95% growth in the first four months of the current fiscal. Data released on Wednesday, 7 August 2008 showed that net direct tax collections stood at Rs 71,648 crore during April-July 2008 as compared with Rs 48,756 crore collected in the same period last year.
US crude rose 26 cents to $118.84 a barrel today, 7 August 2008 on fears over slowing US demand. The contract is almost 20% off the record of $147.27 a barrel hit on 11 July 2008.
Meanwhile, Prime Minister's Economic Advisory Council (EAC) Chairman C. Rangarajan on Wednesday, 6 August 2008 projected a moderation in India's economic growth to 7.5-8% this fiscal with no change in the Reserve Bank's monetary stance until inflation cools down to reasonable levels. He expects the rate of inflation to ease to 8-9% by the end of the current fiscal in March 2009 from the prevailing level of close to 12%.
Asian markets were trading mixed today, 7 August 2008. China's Shanghai Composite rose 0.69% or 18.74 points at 2,738.11, Hong Kong's Hang Seng gained 1.30% or 285.76 points at 22,235.51. However, Japan's Nikkei plunged 1.21% or 161 points at 13,093.89, Taiwan's Taiwan Weighted slipped 0.04% or 2.46 points at 7,023.78, Singapore's Straits Times was down 1.14% or 33.02 points at 2,853.76 and South Korea's Seoul Composite lost 1.20% or 19.02 points at 1,559.69.
US stocks advanced on Wednesday, 6 August 2008 as a drop in oil prices and a better-than-expected profit report from the technology major Cisco Systems helped ease worries about the financial sector. The Dow Jones industrial average added 40.30 points, or 0.35%, to 11,656.07. The Nasdaq Composite index rose 28.54 points, or 1.21%, to 2,378.37.
Back home, stocks ended volatile session slightly higher extending gains for the second straight day yesterday, 6 August 2008. The BSE 30-share Sensex rose 112.47 points or 0.75% to 15,073.54 and the S&P CNX Nifty rose 14.70 points or 0.33% to 4,517.55, yesterday 6 August 2008.
The BSE Sensex is down 5,213.45 points or 25.69% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6,133.23 points or 28.92% away from its all-time high of 21,206.77 struck on 10 January 2008.
Foreign institutional investors were net equity buyers worth Rs 1815.74 crore while mutual funds sold shares worth Rs 804.36 crore yesterday, 6 August 2008, according to provisional data on NSE.
Foreign institutional investors (FIIs) were net buyers of Rs 2364.20 crore in the futures & options segment yesterday, 6 August 2008. They were net buyers of index futures to the tune of Rs 2332.22 crore and bought index options worth Rs 160.56 crore. They were net sellers of stock futures to the tune of Rs 152.83 crore and bought stock options worth Rs 2364.20 crore.
Meanwhile, the Reserve Bank of India (RBI) on Wednesday, 7 August 2008 allowed exchange-traded currency futures by putting out guidelines on the same. Three exchanges have applied to the Securities and Exchange Board of India to start the currency futures --- the Bombay Stock Exchange, the National Stock Exchange and MCX.
The Centre's direct tax revenues continue to be buoyant, with net collections recording a 46.95% growth in the first four months of the current fiscal. Data released on Wednesday, 7 August 2008 showed that net direct tax collections stood at Rs 71,648 crore during April-July 2008 as compared with Rs 48,756 crore collected in the same period last year.
Tips for 7th Aug
VOLTAS CMP: 138.5TARGET: 196 in one month STOP LOSS: 120
MARUTI CMP: 651.70 TARGET: 800 in one month STOP LOSS: 614
ACC Ltd : CMP :637.60 Buy above 638-640,Target: 675 - 693 in a week Stop Loss : 621
Atlanta : CMP : 174.15, Buy @around 175 ,Target: 198 in a week, Stop Loss : 166
Post Market Report:06/08/2008
Stocks ended volatile session slightly higher extending gains for
the second straight day. Strong global cues triggered a solid rally
in first half of the day's trading session. However profit booking
at higher levels in second half capped gains. Volatility was high
towards later part of the day.
Shares of state-run banks slipped. The market breadth turned
negative in late trade in contrast to a strong breadth earlier in
the day. BSE turnover crossed Rs 7,000 crore mark.
The US Federal Reserve at a meeting held after Indian market hours
yesterday, 5 August 2008, held key interest rate at 2%. The Federal
Open Market Committee said that inflation has been high but
insisted that price rises will eventually moderate. Though it
expressed concerns about economic growth and inflation, it
indicated it is in no rush to push borrowing costs higher.
The BSE 30-share Sensex rose 112.47 points or 0.75% to 15,073.54
after oscillating in a band of 387.22 points. At the day's low of
15,035.60 touched in late trade, the Sensex gained 74.53 points.
The market opened with an upward gap of 302.58 points at 15,263.65
and surged further to strike an intra-day high of 15,422.82 in
early trade. At the day's high, the Sensex advanced 461.75 points.
The BSE Sensex is down 5,213.45 points or 25.69% in the calendar
year 2008 so far from its close of 20,286.99 on 31 December 2007.
It is 6,133.23 points or 28.92% away from its all-time high of
21,206.77 struck on 10 January 2008.
The S&P CNX Nifty rose 14.70 points or 0.33% to 4,517.55. Nifty
August 2008 futures were at 4518.90, a slight premium of 1.35
points as compared to spot closing.
The market opened with an upward gap boosted by the Fed decision. A
further slump in crude oil prices also boosted the sentiment. The
BSE Sensex surged past the 15,000 mark in opening trade.
The market breadth, which was strong throughout the day, turned
negative in late trade. On BSE, 1466 shares declined as compared to
1245 that rose. 78 remained unchanged.
The BSE Mid-Cap index was up 0.20% to 5,855.42. However the BSE
Small-Cap index declined 0.68% to 7,144.13. Both these indices
underperformed the Sensex.
The total turnover on BSE amounted to Rs 7,178 crore as compared Rs
6976 crore yesterday, 5 August 2008.
Sectoral indices on BSE displayed mixed trend. The BSE Realty index
(down 0.58% at 5,542.67), BSE Oil & Gas index (up 0.28% to
10,187.69), BSE PSU index (down 1.23% to 7,050.97), BSE Consumer
Durables index (up 0.49% to 3,867.31), BSE Health Care index (down
0.42% at 4,258.15), BSE Power (down 0.79% to 2,699.03), BSE Metal
index (down 3.06% to 12,859.19), BSE Bankex (up 0.24% at 7,235.38),
underperformed the Sensex.
The BSE Capital Goods index (up 1.65% at 12,482.88), BSE Auto (up
2.63% at 3,919.64), BSE TecK index (up 1.52% to 3,126.99), BSE FMCG
index (up 0.89% to 2,179.58), and BSE IT index (up 1.17% to
3,923.67), outperformed the Sensex.
Among the 30-member Sensex pack, 19 advanced while the rest
declined.
Auto counters were in demand throughout the day. Steady fall in
crude oil prices, which slumped to 3-month low, propelled auto
counters. India's top small car maker in terms of sales, Maruti
Suzuki India surged 5.63% to Rs 649 on 5.15 lakh shares. It was the
top gainer from the Sensex pack.
Tata Motors (up 4.02% to Rs 425.50), and Mahindra & Mahindra (up
3.10% to Rs 565), also logged gains from auto pack.
Banking shares were mixed. HDFC Bank (up 3.94% to Rs 1231), and
ICICI Bank (up 1.43% to Rs 703.20), gained. However India's largest
state-run ban in terms of net profit State Bank of India Bank lost
3.79% to Rs 1519.
Shares of state-run banks overturned after strong start. Vijaya
Bank (down 3.66% to Rs 38.20), Andhra Bank (down 4.45% to Rs 59),
Bank of India (down 2.96% to Rs 298.30), Bank of Baroda (down 5.94%
to Rs 281), and Allahabad Bank (down 1.69% to Rs 64.10), declined.
Frontline telecom shares advanced. Bharti Airtel, the nation's top
mobile operator by revenue gained 3.62% to Rs 870. The company
today, 6 August 2008, said it would launch Apple Inc's
third-generation iPhone in India on 22 August 2008.
India's number two cellular services provider in terms of market
capitalisation Reliance Communications (RCom) was up 0.83% to Rs
445.90. According to recent reports, the company is all set to
float a $500-million tender for GSM 3G networks. At present, RCom
is predominantly a CDMA-based operator which is now looking at 3G
services only in the GSM space.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) advanced 0.66% at Rs 2291 on
14.07 lakh shares. The stock moved in a range of Rs 2348 and Rs
2282 so far during the day.
Oil and Natural Gas Corporation (ONGC), the country's largest oil
exploration company by market capitalisation gained 1.57% to Rs
1018.10. The company reportedly plans to scale up its gas
production in Tripura and has revised the project cost to Rs 4376
crore from Rs 1817 crore.
Bharat Heavy Electricals jumped 2.97% to Rs 1822.90 after the
company won first ever contract for supplying 800 mega watts
supercritical boilers worth Rs 2,500 crore from Andhra Pradesh
Power Development Company.
Larsen & Toubro, the country's largest engineering and construction
company in terms of sales, gained 2.11% to Rs 2756. The stock is
trading 1:1 cum bonus.
Cement shares rose despite reports that they could find it
difficult to raise prices when the moratorium on price freeze ends
on 14 August 2008. Ambuja Cements (up 1.26% to Rs 88.50), Grasim
(up 1.36% to Rs 2046), and ACC (up 3.82% to Rs 639.90), edged
higher from the cement pack. In May 2008, cement firms had agreed
to hold prices for three months to help the government contain
skyrocketing inflation.
India's fourth largest software services exporter Satyam Computer
Services advanced 1.63% to Rs 406.15. As per reports, the company
is pursuing 15-20 deals of over $50 million each and is eyeing
buyouts in the Asia Pacific, US, and European continents.
TCS (up 2.91% to Rs 855), Hindustan Unilever (up 2.73% to Rs
246.60), and Wipro (up 1.63% to Rs 454.90) edged higher from Sensex
pack.
Steel stocks declined for the second straight day on fears that the
steel ministry would not allow steel producers to raise prices
after an agreed 3-month freeze lapses on 8 August 2008.
India's largest private sector steelmaker by sales, Tata Steel
plunged 4.43% to Rs 646 on 21.68 lakh shares and was the top loser
from the Sensex pack. The stock moved in a range of Rs 694.95 and
Rs 642 during the day.
JSW Steel (down 4.93% at Rs 795.50), Bhushan Steel (down 3.32% at
Rs 895) and Steel Authority of India (down 3.87% at Rs 145.50),
slipped.
India's third largest pharma company in terms of sales Cipla fell
1.11% to Rs 223.70 on reports Swiss drug major F Hoffmann-La Roche
may move the Madras High Court against patent infringement of its
HIV/AIDS drug Valcyte by Cipla. This would be a second suit by
Roche against Cipla.
India's largest power generation company in terms of revenue NTPC
fell 1.10% to Rs 180.20. As per reports the company along with four
international players would invest Rs 2500 crore in the next three
years to generate 500 megawatts of power from renewable energy
sources.
Reliance Infrastructure (down 3.19% to Rs 1010.15), and DLF (down
1.83% to Rs 543), edged lower from the Sensex pack.
HDFC, the country's dedicated housing finance company in terms of
revenue slipped 1.43% to Rs 2430. The stock came off sharply from
day's high of Rs 2585.
Reliance Natural Resources topped the turnover charts on BSE with
turnover of Rs 374 crore followed by Reliance Capital (Rs 353
crore), Reliance Industries (Rs 327 crore), Larsen & Toubro (Rs
289.50 crore) and ICICI Bank (Rs 206.35 crore), in that order.
Reliance Natural Resources led the volumes chart on BSE clocking
volumes of 3.60 crore shares followed by Ispat Industries (1.42
crore shares), Kashyap Technologies (1.28 crore shares), IFCI (1.10
crore shares) and IDFC (87.80 lakh shares), in that order.
Stocks of the sugar companies advanced on reports the government
fixed lower-than-expected free sale sugar quota in August 2008 at 9
lakh tonnes. Triveni Engineering & Industries (up 13.25% to Rs
115), Sakthi Sugars (up 0.55% to Rs 110), Balrampur Chini (up 2.07%
at Rs 93.60), Bajaj Hindustan (up 5.16% at Rs 181.50), and Shree
Renuka Sugars (up 1.77% to Rs 135.40) spurted.
This move is likely to reduce the supply of sugar in the market,
which will in turn drive up the price of sugar, ahead of the
festival demand. Reports suggest that sugar prices in Maharashtra
may spike in the first half of next year as output in the year
ending September 2009 may fall by over 37%.
Shares of state-run oil marketing companies were mixed. Hindustan
Petroleum Corporation (up 0.77% to Rs 236), and Indian Oil
Corporation (up 1.59% to Rs 440.15), gained. However Bharat
Petroleum Corporation lost 0.88% to Rs 333.30
Elecon Engineering Company jumped 6.38% to Rs 108.45 after the
company said it has bagged five new orders aggregating to Rs 524.20
crore. The company made this announcement during trading hours
today, 6 August 2008.
Geometric spurted 2.21% to Rs 55.50 after the company said it has
signed a contract with Ford Motor Company to provide application
management services for its engineering applications. The company
made this announcement during trading hours today, 6 August 2008.
Hindustan Construction Company slipped 3.16% to Rs 99.60 even as
the company said its joint venture has bagged an irrigation order
worth Rs 1398.50 crore in Andhra Pradesh. The company made this
announcement during trading hours today, 6 August 2008.
Phoenix Mills rose 2.28% at Rs 206.30 on reports its promoters are
looking at divesting 15%-20% stake in the holding company to a
strategic investor. The company management has already initiated
talks with potential partners, including DLF, Reliance Capital and
Indiabulls.
GMR Infrastructure fell 4.21% to Rs 101.15. As per reports the
company is in the race for Russia's third-largest airport, Pulkovo
Airport in St Petersburg, which has been put up by the Russian
government for privatisation.
Meanwhile in a move that could boost stock markets, the ministry of
finance is seriously looking at a proposal to make private
provident funds, superannuation funds and gratuity funds that
manage savings of employees of a number of corporate houses to
appoint an asset management company or investment advisor to ensure
that they deploy the savings of their employees efficiently.
Guidelines on the same are expected soon.
The ministry also suggested doubling their exposure to the capital
market from 5% and reducing their exposure to government securities
from 40% to 35%.
US crude slumped $2.24 to $119.17 yesterday, 5 August 2008, after
Tropical Storm Edouard hit the Texas coast without causing any
major disruption to US energy operations.
European markets, which opened after Indian market, were trading
higher. Key benchmark indices in UK, Germany and France were up by
between 0.18% and 0.66%.
Asian markets, which opened before Indian market, edged higher
today, 6 August 2008. Key benchmark indices in China, Taiwan,
Singapore, South Korea, and Japan, were up by between 0.92% and
3.12%.
US stocks surged yesterday, 5 August 2008 after the Federal Reserve
left interest rates unchanged and eased some of the market`s fears
about the economy. The Dow Jones industrial average rose 331.62
points, or 2.94%, to 11,615.77. The Nasdaq Composite added 64.27
points, or 2.81%, to 2,349.83.
the second straight day. Strong global cues triggered a solid rally
in first half of the day's trading session. However profit booking
at higher levels in second half capped gains. Volatility was high
towards later part of the day.
Shares of state-run banks slipped. The market breadth turned
negative in late trade in contrast to a strong breadth earlier in
the day. BSE turnover crossed Rs 7,000 crore mark.
The US Federal Reserve at a meeting held after Indian market hours
yesterday, 5 August 2008, held key interest rate at 2%. The Federal
Open Market Committee said that inflation has been high but
insisted that price rises will eventually moderate. Though it
expressed concerns about economic growth and inflation, it
indicated it is in no rush to push borrowing costs higher.
The BSE 30-share Sensex rose 112.47 points or 0.75% to 15,073.54
after oscillating in a band of 387.22 points. At the day's low of
15,035.60 touched in late trade, the Sensex gained 74.53 points.
The market opened with an upward gap of 302.58 points at 15,263.65
and surged further to strike an intra-day high of 15,422.82 in
early trade. At the day's high, the Sensex advanced 461.75 points.
The BSE Sensex is down 5,213.45 points or 25.69% in the calendar
year 2008 so far from its close of 20,286.99 on 31 December 2007.
It is 6,133.23 points or 28.92% away from its all-time high of
21,206.77 struck on 10 January 2008.
The S&P CNX Nifty rose 14.70 points or 0.33% to 4,517.55. Nifty
August 2008 futures were at 4518.90, a slight premium of 1.35
points as compared to spot closing.
The market opened with an upward gap boosted by the Fed decision. A
further slump in crude oil prices also boosted the sentiment. The
BSE Sensex surged past the 15,000 mark in opening trade.
The market breadth, which was strong throughout the day, turned
negative in late trade. On BSE, 1466 shares declined as compared to
1245 that rose. 78 remained unchanged.
The BSE Mid-Cap index was up 0.20% to 5,855.42. However the BSE
Small-Cap index declined 0.68% to 7,144.13. Both these indices
underperformed the Sensex.
The total turnover on BSE amounted to Rs 7,178 crore as compared Rs
6976 crore yesterday, 5 August 2008.
Sectoral indices on BSE displayed mixed trend. The BSE Realty index
(down 0.58% at 5,542.67), BSE Oil & Gas index (up 0.28% to
10,187.69), BSE PSU index (down 1.23% to 7,050.97), BSE Consumer
Durables index (up 0.49% to 3,867.31), BSE Health Care index (down
0.42% at 4,258.15), BSE Power (down 0.79% to 2,699.03), BSE Metal
index (down 3.06% to 12,859.19), BSE Bankex (up 0.24% at 7,235.38),
underperformed the Sensex.
The BSE Capital Goods index (up 1.65% at 12,482.88), BSE Auto (up
2.63% at 3,919.64), BSE TecK index (up 1.52% to 3,126.99), BSE FMCG
index (up 0.89% to 2,179.58), and BSE IT index (up 1.17% to
3,923.67), outperformed the Sensex.
Among the 30-member Sensex pack, 19 advanced while the rest
declined.
Auto counters were in demand throughout the day. Steady fall in
crude oil prices, which slumped to 3-month low, propelled auto
counters. India's top small car maker in terms of sales, Maruti
Suzuki India surged 5.63% to Rs 649 on 5.15 lakh shares. It was the
top gainer from the Sensex pack.
Tata Motors (up 4.02% to Rs 425.50), and Mahindra & Mahindra (up
3.10% to Rs 565), also logged gains from auto pack.
Banking shares were mixed. HDFC Bank (up 3.94% to Rs 1231), and
ICICI Bank (up 1.43% to Rs 703.20), gained. However India's largest
state-run ban in terms of net profit State Bank of India Bank lost
3.79% to Rs 1519.
Shares of state-run banks overturned after strong start. Vijaya
Bank (down 3.66% to Rs 38.20), Andhra Bank (down 4.45% to Rs 59),
Bank of India (down 2.96% to Rs 298.30), Bank of Baroda (down 5.94%
to Rs 281), and Allahabad Bank (down 1.69% to Rs 64.10), declined.
Frontline telecom shares advanced. Bharti Airtel, the nation's top
mobile operator by revenue gained 3.62% to Rs 870. The company
today, 6 August 2008, said it would launch Apple Inc's
third-generation iPhone in India on 22 August 2008.
India's number two cellular services provider in terms of market
capitalisation Reliance Communications (RCom) was up 0.83% to Rs
445.90. According to recent reports, the company is all set to
float a $500-million tender for GSM 3G networks. At present, RCom
is predominantly a CDMA-based operator which is now looking at 3G
services only in the GSM space.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries (RIL) advanced 0.66% at Rs 2291 on
14.07 lakh shares. The stock moved in a range of Rs 2348 and Rs
2282 so far during the day.
Oil and Natural Gas Corporation (ONGC), the country's largest oil
exploration company by market capitalisation gained 1.57% to Rs
1018.10. The company reportedly plans to scale up its gas
production in Tripura and has revised the project cost to Rs 4376
crore from Rs 1817 crore.
Bharat Heavy Electricals jumped 2.97% to Rs 1822.90 after the
company won first ever contract for supplying 800 mega watts
supercritical boilers worth Rs 2,500 crore from Andhra Pradesh
Power Development Company.
Larsen & Toubro, the country's largest engineering and construction
company in terms of sales, gained 2.11% to Rs 2756. The stock is
trading 1:1 cum bonus.
Cement shares rose despite reports that they could find it
difficult to raise prices when the moratorium on price freeze ends
on 14 August 2008. Ambuja Cements (up 1.26% to Rs 88.50), Grasim
(up 1.36% to Rs 2046), and ACC (up 3.82% to Rs 639.90), edged
higher from the cement pack. In May 2008, cement firms had agreed
to hold prices for three months to help the government contain
skyrocketing inflation.
India's fourth largest software services exporter Satyam Computer
Services advanced 1.63% to Rs 406.15. As per reports, the company
is pursuing 15-20 deals of over $50 million each and is eyeing
buyouts in the Asia Pacific, US, and European continents.
TCS (up 2.91% to Rs 855), Hindustan Unilever (up 2.73% to Rs
246.60), and Wipro (up 1.63% to Rs 454.90) edged higher from Sensex
pack.
Steel stocks declined for the second straight day on fears that the
steel ministry would not allow steel producers to raise prices
after an agreed 3-month freeze lapses on 8 August 2008.
India's largest private sector steelmaker by sales, Tata Steel
plunged 4.43% to Rs 646 on 21.68 lakh shares and was the top loser
from the Sensex pack. The stock moved in a range of Rs 694.95 and
Rs 642 during the day.
JSW Steel (down 4.93% at Rs 795.50), Bhushan Steel (down 3.32% at
Rs 895) and Steel Authority of India (down 3.87% at Rs 145.50),
slipped.
India's third largest pharma company in terms of sales Cipla fell
1.11% to Rs 223.70 on reports Swiss drug major F Hoffmann-La Roche
may move the Madras High Court against patent infringement of its
HIV/AIDS drug Valcyte by Cipla. This would be a second suit by
Roche against Cipla.
India's largest power generation company in terms of revenue NTPC
fell 1.10% to Rs 180.20. As per reports the company along with four
international players would invest Rs 2500 crore in the next three
years to generate 500 megawatts of power from renewable energy
sources.
Reliance Infrastructure (down 3.19% to Rs 1010.15), and DLF (down
1.83% to Rs 543), edged lower from the Sensex pack.
HDFC, the country's dedicated housing finance company in terms of
revenue slipped 1.43% to Rs 2430. The stock came off sharply from
day's high of Rs 2585.
Reliance Natural Resources topped the turnover charts on BSE with
turnover of Rs 374 crore followed by Reliance Capital (Rs 353
crore), Reliance Industries (Rs 327 crore), Larsen & Toubro (Rs
289.50 crore) and ICICI Bank (Rs 206.35 crore), in that order.
Reliance Natural Resources led the volumes chart on BSE clocking
volumes of 3.60 crore shares followed by Ispat Industries (1.42
crore shares), Kashyap Technologies (1.28 crore shares), IFCI (1.10
crore shares) and IDFC (87.80 lakh shares), in that order.
Stocks of the sugar companies advanced on reports the government
fixed lower-than-expected free sale sugar quota in August 2008 at 9
lakh tonnes. Triveni Engineering & Industries (up 13.25% to Rs
115), Sakthi Sugars (up 0.55% to Rs 110), Balrampur Chini (up 2.07%
at Rs 93.60), Bajaj Hindustan (up 5.16% at Rs 181.50), and Shree
Renuka Sugars (up 1.77% to Rs 135.40) spurted.
This move is likely to reduce the supply of sugar in the market,
which will in turn drive up the price of sugar, ahead of the
festival demand. Reports suggest that sugar prices in Maharashtra
may spike in the first half of next year as output in the year
ending September 2009 may fall by over 37%.
Shares of state-run oil marketing companies were mixed. Hindustan
Petroleum Corporation (up 0.77% to Rs 236), and Indian Oil
Corporation (up 1.59% to Rs 440.15), gained. However Bharat
Petroleum Corporation lost 0.88% to Rs 333.30
Elecon Engineering Company jumped 6.38% to Rs 108.45 after the
company said it has bagged five new orders aggregating to Rs 524.20
crore. The company made this announcement during trading hours
today, 6 August 2008.
Geometric spurted 2.21% to Rs 55.50 after the company said it has
signed a contract with Ford Motor Company to provide application
management services for its engineering applications. The company
made this announcement during trading hours today, 6 August 2008.
Hindustan Construction Company slipped 3.16% to Rs 99.60 even as
the company said its joint venture has bagged an irrigation order
worth Rs 1398.50 crore in Andhra Pradesh. The company made this
announcement during trading hours today, 6 August 2008.
Phoenix Mills rose 2.28% at Rs 206.30 on reports its promoters are
looking at divesting 15%-20% stake in the holding company to a
strategic investor. The company management has already initiated
talks with potential partners, including DLF, Reliance Capital and
Indiabulls.
GMR Infrastructure fell 4.21% to Rs 101.15. As per reports the
company is in the race for Russia's third-largest airport, Pulkovo
Airport in St Petersburg, which has been put up by the Russian
government for privatisation.
Meanwhile in a move that could boost stock markets, the ministry of
finance is seriously looking at a proposal to make private
provident funds, superannuation funds and gratuity funds that
manage savings of employees of a number of corporate houses to
appoint an asset management company or investment advisor to ensure
that they deploy the savings of their employees efficiently.
Guidelines on the same are expected soon.
The ministry also suggested doubling their exposure to the capital
market from 5% and reducing their exposure to government securities
from 40% to 35%.
US crude slumped $2.24 to $119.17 yesterday, 5 August 2008, after
Tropical Storm Edouard hit the Texas coast without causing any
major disruption to US energy operations.
European markets, which opened after Indian market, were trading
higher. Key benchmark indices in UK, Germany and France were up by
between 0.18% and 0.66%.
Asian markets, which opened before Indian market, edged higher
today, 6 August 2008. Key benchmark indices in China, Taiwan,
Singapore, South Korea, and Japan, were up by between 0.92% and
3.12%.
US stocks surged yesterday, 5 August 2008 after the Federal Reserve
left interest rates unchanged and eased some of the market`s fears
about the economy. The Dow Jones industrial average rose 331.62
points, or 2.94%, to 11,615.77. The Nasdaq Composite added 64.27
points, or 2.81%, to 2,349.83.
Tuesday, August 5, 2008
Sensex tumbles
Volatility took its toll on the market in early afternoon trade as
key benchmark indices tumbled to day's low on fresh selling. They
had opened slightly lower tracking negative overseas markets only
to rebound to day's high helped by banking and auto stocks. The
market breadth was strong. Caution may prevail ahead of Federal
Reserve meeting scheduled after Indian market hours today to decide
on US interest rates.
US crude futures tumbled yesterday, 4 August 2008, as OPEC output
rose for the third month in a row in July, outweighing concerns
about Tropical Storm Edouard. On the New York Mercantile Exchange,
September crude settled down $3.69 at $121.41 a barrel.
At 12:28 IST, the BSE 30-share Sensex was down 10.05 points or
0.08% to 14,567.82. It had opened 15.19 points lower at 14,562.68.
At the day's low of 14,529.21 hit in early afternoon trade, the
Sensex lost 48.66 points. At the day's high of 14,689.92 hit in
mid-morning trade, the Sensex 112.05 gained points.
The S&P CNX Nifty was down 6.9 points or 0.16% to 4,388.45
The market breadth was strong on BSE with 1507 shares advancing as
compared to 913 that declined. 75 remained unchanged.
The total turnover on BSE amounted to Rs 3093 crore by 12:30 IST on
BSE as compared to Rs 1983 crore by 11:30 IST
Among the 30-member Sensex pack, 19 advanced while the rest them
slipped.
Banking shares advanced on fresh buying in anticipation of reforms
in the financial sector post the UPA Government winning the trust
vote. India's second largest private sector bank in terms of net
profit HDFC Bank surged 3.73% to Rs 1150 on 1.72 lakh shares. It
was the top gainer from Sensex pack.
ICICI Bank (up 2.58% to Rs 657), and State Bank of India Bank (up
1.98% to Rs 1538.95), gained from the frontline banking pack.
Auto pivotals also joined the rally after crude oil plunged
yesterday, 4 August 2008. Tata Motors (up 1.93% to Rs 403.90),
Mahindra & Mahindra (up 2.95% to Rs 535), and Maruti Suzuki India
(up 0.52% to Rs 575.15), advanced.
India's largest power equipment maker by sales, Bharat Heavy
Electricals gained 0.52% to Rs 1723.20 after the company bagged an
order worth Rs 2500 crore to supply 800-megawatt generators for a
power plant in south India.
Hindustan Unilever (up 2.20% to Rs 239.20), ACC (up 1.18% to Rs
592.70) and Reliance Infrastructure (up 1.21% to Rs 520) edged
higher from Sensex pack.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries declined 0.78% at Rs 2224.75 on
5.42 lakh shares.
Tata Steel, India's largest private sector steelmaker by sales
slumped 5.02% to Rs 657 on 13.97 lakh shares. It was the top loser
from the Sensex pack. 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.
Infosys (down 1.96% to Rs 1623.35), Ranbaxy (down 1.93% to Rs
514.50) and Jaiprakash Associates (down 2.01% to Rs 171), were the
other losers from the Sensex pack.
State-run oil marketing companies advanced after crude oil prices
plunged yesterday, 4 August 2008. Hindustan Petroleum Corporation
(up 2.27% to Rs 232), Bharat Petroleum Corporation (up 1.95% to Rs
334), and Indian Oil Corporation (up 1.77% to Rs 433.60), gained.
Stocks of the sugar companies advanced on reports the government
fixed lower free sale sugar quota in August 2008 at 900,000 tonnes.
Reports also suggested that sugar prices in Maharashtra may spike
to over-two-year highs in the first half of next year as output in
the year ending September 2009 may fall by over 37%.
Sakthi Sugars (up 3% to Rs 109.80), Triveni Engineering and
Industries (2.10% at Rs 103.80), Dwarikesh Sugar (up 1.79% to Rs
76.85), Balrampur Chini (up 1.33% at Rs 91.25), and Bajaj Hindustan
(up 1.27% at Rs 171), spurted on the back of such reports.
Thermax jumped 4.18% to Rs 470, extending previous day's gain after
the company bagged an order worth Rs 415 crore for setting up a
captive power plant for a leading steel making company. The company
made this announcement during trading hours on Monday, 4 August
2008 when the stock settled 3.33% higher at Rs 451.15.
Most Asian markets were trading lower today, 5 August 2008. Key
benchmark indices in China, Hong Kong, Taiwan, Singapore, and South
Korea were down by between 0.60% and 2.35%. However the Japanese
Nikkei 225 was up 0.17%.
key benchmark indices tumbled to day's low on fresh selling. They
had opened slightly lower tracking negative overseas markets only
to rebound to day's high helped by banking and auto stocks. The
market breadth was strong. Caution may prevail ahead of Federal
Reserve meeting scheduled after Indian market hours today to decide
on US interest rates.
US crude futures tumbled yesterday, 4 August 2008, as OPEC output
rose for the third month in a row in July, outweighing concerns
about Tropical Storm Edouard. On the New York Mercantile Exchange,
September crude settled down $3.69 at $121.41 a barrel.
At 12:28 IST, the BSE 30-share Sensex was down 10.05 points or
0.08% to 14,567.82. It had opened 15.19 points lower at 14,562.68.
At the day's low of 14,529.21 hit in early afternoon trade, the
Sensex lost 48.66 points. At the day's high of 14,689.92 hit in
mid-morning trade, the Sensex 112.05 gained points.
The S&P CNX Nifty was down 6.9 points or 0.16% to 4,388.45
The market breadth was strong on BSE with 1507 shares advancing as
compared to 913 that declined. 75 remained unchanged.
The total turnover on BSE amounted to Rs 3093 crore by 12:30 IST on
BSE as compared to Rs 1983 crore by 11:30 IST
Among the 30-member Sensex pack, 19 advanced while the rest them
slipped.
Banking shares advanced on fresh buying in anticipation of reforms
in the financial sector post the UPA Government winning the trust
vote. India's second largest private sector bank in terms of net
profit HDFC Bank surged 3.73% to Rs 1150 on 1.72 lakh shares. It
was the top gainer from Sensex pack.
ICICI Bank (up 2.58% to Rs 657), and State Bank of India Bank (up
1.98% to Rs 1538.95), gained from the frontline banking pack.
Auto pivotals also joined the rally after crude oil plunged
yesterday, 4 August 2008. Tata Motors (up 1.93% to Rs 403.90),
Mahindra & Mahindra (up 2.95% to Rs 535), and Maruti Suzuki India
(up 0.52% to Rs 575.15), advanced.
India's largest power equipment maker by sales, Bharat Heavy
Electricals gained 0.52% to Rs 1723.20 after the company bagged an
order worth Rs 2500 crore to supply 800-megawatt generators for a
power plant in south India.
Hindustan Unilever (up 2.20% to Rs 239.20), ACC (up 1.18% to Rs
592.70) and Reliance Infrastructure (up 1.21% to Rs 520) edged
higher from Sensex pack.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries declined 0.78% at Rs 2224.75 on
5.42 lakh shares.
Tata Steel, India's largest private sector steelmaker by sales
slumped 5.02% to Rs 657 on 13.97 lakh shares. It was the top loser
from the Sensex pack. 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.
Infosys (down 1.96% to Rs 1623.35), Ranbaxy (down 1.93% to Rs
514.50) and Jaiprakash Associates (down 2.01% to Rs 171), were the
other losers from the Sensex pack.
State-run oil marketing companies advanced after crude oil prices
plunged yesterday, 4 August 2008. Hindustan Petroleum Corporation
(up 2.27% to Rs 232), Bharat Petroleum Corporation (up 1.95% to Rs
334), and Indian Oil Corporation (up 1.77% to Rs 433.60), gained.
Stocks of the sugar companies advanced on reports the government
fixed lower free sale sugar quota in August 2008 at 900,000 tonnes.
Reports also suggested that sugar prices in Maharashtra may spike
to over-two-year highs in the first half of next year as output in
the year ending September 2009 may fall by over 37%.
Sakthi Sugars (up 3% to Rs 109.80), Triveni Engineering and
Industries (2.10% at Rs 103.80), Dwarikesh Sugar (up 1.79% to Rs
76.85), Balrampur Chini (up 1.33% at Rs 91.25), and Bajaj Hindustan
(up 1.27% at Rs 171), spurted on the back of such reports.
Thermax jumped 4.18% to Rs 470, extending previous day's gain after
the company bagged an order worth Rs 415 crore for setting up a
captive power plant for a leading steel making company. The company
made this announcement during trading hours on Monday, 4 August
2008 when the stock settled 3.33% higher at Rs 451.15.
Most Asian markets were trading lower today, 5 August 2008. Key
benchmark indices in China, Hong Kong, Taiwan, Singapore, and South
Korea were down by between 0.60% and 2.35%. However the Japanese
Nikkei 225 was up 0.17%.
rebounded from early lows
At 10:25 IST, the BSE 30-share Sensex was up 67.86 points or 0.47%
to 14,647.57, which is also its day's high. It had opened 15.19
points lower at 14,562.68
The S&P CNX Nifty was up 12.50 points or 0.28% to 4,407.85
The market breadth was strong on BSE with 1261 shares advancing as
compared to 453 that declined. 56 remained unchanged.
The total turnover on BSE amounted to Rs 885 crore
Among the 30-member Sensex pack, 26 advanced while the rest them
slipped.
Banking shares were in demand on fresh buying. India's second
largest private sector bank in terms of net profit HDFC Bank surged
3.28% to Rs 1145.05 on 35,385 shares. It was the top gainer from
Sensex pack.
ICICI Bank (up 1.17% to Rs 648), and State Bank of India Bank (up
1.38% to Rs 1530), gained from the frontline banking pack.
India's largest pharma company by sales, Ranbaxy Laboratories
climbed up 1.68% to Rs 532.80 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.
Bhel (up 1.27% to Rs 1736), Grasim (up 1.35% to Rs 1920) and
Hindalco (up 1.16% to Rs 143.75) edged higher from Sensex pack.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries declined 0.45% at Rs 2232.30 on
1.59 lakh shares.
Tata Steel, India's largest private sector steelmaker by sales
slipped 2.44% to Rs 674.85 on 3.44 lakh shares. It was the top
loser from the Sensex pack. 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.
Infosys (down 1.44% to Rs 1632), and Wipro (down 1.09% to Rs
426.10), were the other losers from the Sensex pack.
Among the side counters, Sujana Industries (up 18.05% to Rs 14.26),
Span Diagnostics (up 13.87% to Rs 87), and LML (up 11.48% to Rs
13.35), surged.
US crude futures tumbled yesterday, 4 August 2008, as OPEC output
rose for the third month in a row in July, outweighing concerns
about Tropical Storm Edouard. On the New York Mercantile Exchange,
September crude settled down $3.69 at $121.41 a barrel.
Most Asian markets were trading lower today, 5 August 2008. Key
benchmark indices in China, Hong Kong, Taiwan, Singapore, and South
Korea were down by between 0.17% and 2.23%. However the Japanese
Nikkei 225 was up 0.16%.
to 14,647.57, which is also its day's high. It had opened 15.19
points lower at 14,562.68
The S&P CNX Nifty was up 12.50 points or 0.28% to 4,407.85
The market breadth was strong on BSE with 1261 shares advancing as
compared to 453 that declined. 56 remained unchanged.
The total turnover on BSE amounted to Rs 885 crore
Among the 30-member Sensex pack, 26 advanced while the rest them
slipped.
Banking shares were in demand on fresh buying. India's second
largest private sector bank in terms of net profit HDFC Bank surged
3.28% to Rs 1145.05 on 35,385 shares. It was the top gainer from
Sensex pack.
ICICI Bank (up 1.17% to Rs 648), and State Bank of India Bank (up
1.38% to Rs 1530), gained from the frontline banking pack.
India's largest pharma company by sales, Ranbaxy Laboratories
climbed up 1.68% to Rs 532.80 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.
Bhel (up 1.27% to Rs 1736), Grasim (up 1.35% to Rs 1920) and
Hindalco (up 1.16% to Rs 143.75) edged higher from Sensex pack.
India's largest private sector firm by market capitalization and
oil refiner Reliance Industries declined 0.45% at Rs 2232.30 on
1.59 lakh shares.
Tata Steel, India's largest private sector steelmaker by sales
slipped 2.44% to Rs 674.85 on 3.44 lakh shares. It was the top
loser from the Sensex pack. 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.
Infosys (down 1.44% to Rs 1632), and Wipro (down 1.09% to Rs
426.10), were the other losers from the Sensex pack.
Among the side counters, Sujana Industries (up 18.05% to Rs 14.26),
Span Diagnostics (up 13.87% to Rs 87), and LML (up 11.48% to Rs
13.35), surged.
US crude futures tumbled yesterday, 4 August 2008, as OPEC output
rose for the third month in a row in July, outweighing concerns
about Tropical Storm Edouard. On the New York Mercantile Exchange,
September crude settled down $3.69 at $121.41 a barrel.
Most Asian markets were trading lower today, 5 August 2008. Key
benchmark indices in China, Hong Kong, Taiwan, Singapore, and South
Korea were down by between 0.17% and 2.23%. However the Japanese
Nikkei 225 was up 0.16%.
Pre Market Report 05/08/2008
Local bourses open lower tracking negative cues from overseas markets. Caution may prevail ahead of Federal Reserve meeting scheduled after Indian market hours today to decide on US interest rates.
US crude futures tumbled yesterday, 4 August 2008, as OPEC output rose for the third month in a row in July, outweighing concerns about Tropical Storm Edouard. On the New York Mercantile Exchange, September crude settled down $3.69 at $121.41 a barrel.
Most Asian markets were trading lower today, 5 August 2008. China's Shanghai Composite was down 0.61% or 16.80 points at 2,724.94, Hong Kong's Hang Seng plunged 1.61% or 362.23 points at 22,152.69, Taiwan's Taiwan Weighted slipped 1.85% or 129.20 points at 6,848.16, Singapore's Straits Times fell 0.65% or 18.80 points at 2,857.28, South Korea's Seoul Composite lost 0.30% or 4.69 points at 1,538.36. However, Japan's Nikkei rose 0.27% or 34.85 points at 12,968.03
US stocks fell yesterday, 4 August 2008, as shares of energy and commodity-related companies tumbled on falling oil and metals prices and investors worried the housing slump could fuel further losses at financial companies. The Dow Jones Industrial Average fell 42.17 points, or 0.37%, to 11,284.15, the Standard & Poor's 500 Index slid 11.30 points, or 0.9% to 1,249.01, while the Nasdaq Composite Index dropped 25.40 points, or 1.10%, to 2,285.56.
Back home, key indices ended lower in a turbulent session yesterday, 4 August 2008. The BSE Sensex slipped 78.82 points or 0.54% to 14,577.87 and the NSE Nifty shed 18 points or 0.41% to 4395.35.
Foreign institutional investors were net sellers of equity worth Rs 507.81 crore while mutual funds net sold 46.97 crore yesterday, 4 August 2008. According to provisional data on NSE.
Foreign institutional investors (FIIs) were net sellers of Rs 631.90 crore in the futures & options segment on Monday, 4 August 2008. They were net sellers of index futures to the tune of Rs 227.23 crore and sold index options worth Rs 86.38 crore. They were net sellers of stock futures to the tune of Rs 348.99 crore and bought stock options worth Rs 30.70 crore.
Meanwhile, international credit rating agency Moody's Corporation has cautioned that they might be looking at revising India's rating downward. This is the second rating agency other than S&P that has given out a red flag on India's economic fundamentals.
US crude futures tumbled yesterday, 4 August 2008, as OPEC output rose for the third month in a row in July, outweighing concerns about Tropical Storm Edouard. On the New York Mercantile Exchange, September crude settled down $3.69 at $121.41 a barrel.
Most Asian markets were trading lower today, 5 August 2008. China's Shanghai Composite was down 0.61% or 16.80 points at 2,724.94, Hong Kong's Hang Seng plunged 1.61% or 362.23 points at 22,152.69, Taiwan's Taiwan Weighted slipped 1.85% or 129.20 points at 6,848.16, Singapore's Straits Times fell 0.65% or 18.80 points at 2,857.28, South Korea's Seoul Composite lost 0.30% or 4.69 points at 1,538.36. However, Japan's Nikkei rose 0.27% or 34.85 points at 12,968.03
US stocks fell yesterday, 4 August 2008, as shares of energy and commodity-related companies tumbled on falling oil and metals prices and investors worried the housing slump could fuel further losses at financial companies. The Dow Jones Industrial Average fell 42.17 points, or 0.37%, to 11,284.15, the Standard & Poor's 500 Index slid 11.30 points, or 0.9% to 1,249.01, while the Nasdaq Composite Index dropped 25.40 points, or 1.10%, to 2,285.56.
Back home, key indices ended lower in a turbulent session yesterday, 4 August 2008. The BSE Sensex slipped 78.82 points or 0.54% to 14,577.87 and the NSE Nifty shed 18 points or 0.41% to 4395.35.
Foreign institutional investors were net sellers of equity worth Rs 507.81 crore while mutual funds net sold 46.97 crore yesterday, 4 August 2008. According to provisional data on NSE.
Foreign institutional investors (FIIs) were net sellers of Rs 631.90 crore in the futures & options segment on Monday, 4 August 2008. They were net sellers of index futures to the tune of Rs 227.23 crore and sold index options worth Rs 86.38 crore. They were net sellers of stock futures to the tune of Rs 348.99 crore and bought stock options worth Rs 30.70 crore.
Meanwhile, international credit rating agency Moody's Corporation has cautioned that they might be looking at revising India's rating downward. This is the second rating agency other than S&P that has given out a red flag on India's economic fundamentals.
stock tips 5th Aug 2008
Nifty: Resistance 4434/4444/4498/4540/4620
Supports at 4377/4360/4311/4280
STOCKS TODAY Suzlon Energy, SELMCL,SATYAM,TCS,THERMAX
Buy Bellary Steels & Alloys Ltd above CMP: 4.46 target 5.15 stoploss 4.30
Buy AUROBINDO PHARMA -: CMP : 302.60, Buy in range 300 - 303, Target : 321 - 324 Stop Loss : 291
Buy Gitanjali Gems - : CMP : 266.30, Buy @around 265 , Target : 280, Stop Loss : 257
Monday, August 4, 2008
Post Market Report:04/08/2008
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.
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.
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.
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