Share Market Reviews

Tata Steel's Advance Tax to Q4

2010-03-13T14:32:00.001+05:30

The recent news from the Indian stock market is that the Q4 advance tax numbers have started flowing. According to the authentic source CNBC-TV18, the Tata Steel Company has paid 513 Crore Rupees while the L&T has paid Rs 270 Crore for the same.

Talking in terms of banks, the State Bank of India will possible pay in excess of Rs 1800 Crore. On the other hand, the BOB, that is the Bank of Baroda has paid Rs 300 Crore. Some other banks like the Central Bank of India, Dena Bank and Nabard has paid Rs 250 Crore, 30 Crore and 150 Crore respectively.

ICICI, the leading private bank has paid this amount as Rs 200 Crore. Mangalore Refinery, the renowned oil company has paid Rs 180 Crore.

General Electric agrees to buy Hyundai shares

2010-01-22T11:17:00.002+05:30

General Electric Co, the world's second largest car manufacturer plans to expand its business in South Korea and agreed to buy Hyundai Motors share in their credit card unit. General Motors GE, that's based in Fairfield, Connecticut, will buy 204 billion won ($199 million) shares in the Hyundai Motors credit-card unit from South korea's largest automaker.

GE would buy shares from Hyundai Motor’s new equity issued by the credit-card company, that would bring its stake to 43%, Edaily reported. This share would enhance and expand GE's alliance with Hyundai Motors, ie South Korea's second largest automobile manufacturer. With this GE joins the league of Samsung, LG to recapitalize their credit card business.

The filing of the sharing mentions that GE would attain these shares in September. In order to buy the new-share credit the automaker would invest 143 billion dollars.

Higher dividend from Maruti Suzuki doubtful this time too

2009-12-22T10:15:00.004+05:30

Maruti Suzuki, the largest auto maker in India, is doubtful to give higher dividend to its shareholders this time too as against its counterparts in India. The company is earning robust revenues and profits this year but poor distribution of dividend to its shareholders. It is to be mentioned that stock price of the company has trebled since the beginning of the current year. Let's see the dividend data of last year's. Maruti Suzuki paid a total dividend of Rs 101 crore that is less than 10 per cent of its net profit. On the other hand, Mahindra & Mahindra and Tata Motors use to distribute almost a third of their net profits in the form of dividends. The strategy forced Maruti Suzuki's shareholders to depend on the vicissitudes of the stock market to make money from this stock. It is also widely believed that the strategy to give lesser dividends might not change in the near future.

cars segment. Maruti Suzuki is leading the segment with two-third market share. It also controls over 50 per cent of the home market. Similarly, the company is growing leaps and bounds at the export front and its the leading suppliers of fuel-efficient cars to European markets. Around 15 per cent of its total production accounts for export only. There are two major launches are scheduled in the next few days that is Volkswagen Polo and Ford Figo.

Tata Motors and Maruti Suzuki shares shine in the early trade

2009-12-02T16:51:00.003+05:30

Shares of Tata Motors an Maruti Suzuki shone at the early trade on Wednesday. Tata Motors jumped 4 per cent to Rs 730 on the BSE while Maruti Suzuki closed moved up 1.5 per cent at Rs 1,612. On the other hand, Mahindra and Mahindra dipped 1 per cent to Rs 1,066 and traded of 181,871 shares.

Banks and autos lead the rally in the day but continue the trend at the end. India's leading auto makers reported a record 63 per cent sales growth in the last month-November. Among the all leading auto companies, eight firms contributed over 90 per cent of the India's total domestic car sales. The sales figures is expected to do well in the coming days as a couple of international car companies are going to launch new vehicles in India like Volkswagen Beetle and Volkswagen Touareg on 4th December.

Overall, Sensex closed with a loss of 28.36 points at 17,169.91 points due to profit booking at the end of the day. The Sensex moved between 17,329 to 17,142 points during the whole day. A weak European opening added more trouble for the domestic market. On the other hand, the National Stock Exchange index Nifty closed flat with a gain of only 1.25 points at 5,123 points.

BSE closed down 58 points

2009-11-11T16:56:00.005+05:30

The Bombay Stock Exchange benchmark Sensex closed down 58.16 points at 16,440.56 on Tuesday.

It was below Monday's closing. However, the Senesx moved to 16,677.53 points in the afternoon but could not forward it till the trading ended due to selling of stocks by investors. In the same way, the National Stock Exchange index Nifty experienced the same story. It also ended in negative at 4,881.7 points down 0.34 per cent from its previous close.

The market breadth was negative, with 1,463 stocks declining, 1,290 advancing and 56 remaining unchanged.

The top stock in today's trading was Tata Motors. Tata Motors gained 2.6 per cent to Rs 609.1 on account of robust sales in October. Its sales moved to 34 per cent to 132,165 vehicles in October, according to SIAM. Similarly, another auto maker, Mahindra and Mahindra increased 1.5 per cent to Rs 1,017.95. ICICI Bank, Reliance Industries and State Bank of India also registered grwoth while Maruti Suzuki, Hero Honda and Reliance Industries were among the losers in today's trading.

Sensex gains today

2009-11-06T15:41:00.003+05:30

The Asian markets trade well in today morning including the BSE. The Bombay Stock Exchange benchmark Sensex gained 185 points at 16,249. Thanks to the global cues that enable the market to reach the 16K mark. Similarly, the National Stock Exchange index Nifty received the same experience as it gained 63 points at 4828. The stocks who took the market on positive terrain are- Jaiprakash Associates grew by 3 per cent at Rs 224, Tata Steel moved to 3.3 per cent at Rs 500 and DLF increase up 2 per cent at Rs 382.

In the same way, Hindalco and Sterlite gained 2 per cent and 3 per cent respectively. On the other hand, ITC and Hindustan Unilever were big losers in today's morning trading as the former dipped to 1 per cent at Rs 275 and the latter traded flat with a negative bias at Rs 251. Out of 831 stocks traded on the BSE so far, there are 755 advancing stocks as against 65 declines.

Sensex closed down 70 pts

2009-10-28T17:47:00.002+05:30

The Bombay Stock Exchange benchmark Sensex ended in negative zone for the third consecutive day. The BSE closed down 70 points at 16,283 on Wednesday. Earlier, the BSE Sensex started flat at 16, 336 points. But right after it was in negative terrain at 16,144. Overall, the Sensex went up and then down in the day and finally closed with a loss of 70 points at 16,283. Thanks to global markets mixed cues. On the other hand, the National Stock Exchange index Nifty ended with a loss of 21 points at 4,826.

The market breadth was fairly negative. Out of 2,756 stocks traded 1,628 declined while 1,057 advanced. The major market movers were Bharti Airtel who added 3.5% at Rs 317 and Wipro gained 3% to Rs 623. Reliance moved up 2.5 per cent to Rs 562 and Tata Motors gained 2.5% to Rs 2,036. Larsen & Toubro added 2% to Rs 1,588 as well.

Hero Honda posts robust net profit

2009-10-21T18:44:00.003+05:30

Hero Honda, the market leader in two-wheeler segment, announced its second quarter results in a filing to BSE. As per its filing, the company registered a growth of 95 per cent for the second quarter ended September 30, 2009. The net profit posted is Rs 597.14 crore as against Rs 306.30 crore in the same month last year.

Apart from this, Total income of Hero Honda increased to Rs 4,128.15 crore during the second quarter (July-September) from Rs 3,255.93 crore in the same period the previous year. On the contrary, the shares of the company closed down 2.90 per cent over previous close on the BSE at Rs 1,612.90. Hero Honda Splendour Plus is the major contributor to the company's profit.

Tata Manza Launched in india

2009-10-15T16:45:00.002+05:30

Tata Motors, the leading auto manufacturer of the country, has launched its much awaited and ambitious Tata Manza in Mumbai. This launch is the new model of Tata Indigo. Tata Motors Chairman Ratan Tata unveiled the festival gift for the customers. The entry-level sedan has been launched in four variants- Aura (ABS), Aqua, Aura and Aura plus. The base petrol version is priced between Rs 4.8 lakh and the high end diesel version has a price tag of Rs 6.75 lakh. It comes in seven stunning shades.

Tata Motors officials informed the reporters at the launch that existing variants of Tata Indigo, Tata Indigo Marina, Tata Indigo XL and Tata Indigo CS, would be sold side by side. Tata Indigo, launched in December 2002, has seen a great success in the entry-level sedan segment till 2008. Since launch, 275,000 units of the Tata Indigo were sold. Tata Manza is developed on the Tata Indica Vista platform and the company has invested Rs 2,000 crore to make the platform. Company officials denied the idea of developing electric version of the new launch. Tata Manza is available with a 2 years or 75,000 kms, whatever completes first. The sedan is powered by Fiat's 90 hp Quadrajet diesel and saffire petrol engines. The length, width and wheelbase are- 4.4m, 1.7m and 2,520mm, respectively.

GM's luxury sedan Chevrolet Cruze launched

2009-10-12T16:20:00.005+05:30

It's festival time in the country! And auto companies are thronging in with new launches. Clearly, its a move to grab the most of the market share. In this line, General Motors India launched its much-awaited luxury sedan Chevrolet Cruze in India. The company introduced two models of the sedan. Though the engine capacity is same-2.0 diesel engine.

This car, Chevrolet Cruze, would give 18.3 kmpl of fuel efficiency. The 1.8 litre petrol version of the car will hit Indian roads in the months to come. The sedan will cost Rs 10.99 lakh to Rs 12.45 lakh in Delhi. Karl Slym, President and MD of GM India, told media persons here that the car is appreciated out side India and the company is hoping the same here.

The car is positioned in the D-segment in the country where likes of Honda Civic, Skoda Octiva and Toyota Corolla is dominating. Tata Manza is also scheduled to be launched on 14 October in the country. GM is also geared to introduce its mini car, Chevrolet Beat, in India by the end of the year. The car is to be priced at Rs 4 lakh. In addition to this, the company is preparing to launch Chevrolet Spark with a 800cc petrol engine in 2010.

Sensex just added 7.71 pts

2009-10-01T17:39:00.004+05:30

The Bombay Stock Exchange benchmark Sensex could just added only 7.71 positive points to 17,134.55 at the close of the day on Thursday. On Wednesday, it touched the mark of 17,000 points but today, only mange to add some good points due to buying selling. On the other hand, the wide-based National Stock Exchange index Nifty could not do well and closed lower by 0.55 points at 5,083. It may be noted that Thursday is the last day of trading due to holidays starting from 2 October. Ahead of this long weekend, buying and selling were done in a big way.

Initial gains were also wiped off due to profit selling by foreign funds triggered by reports of increasing inflation, a fall in August month exports and a weak US manufacturing data. Nevertheless, interested buying in heavyweight stocks averted the market from ending in negative terrain. Bharti, the country's largest private telecom operator, jumped 4% to Rs 435.35 after climbing 12% earlier. Infosys surged by 0.75 % to Rs 2,325.75 on expectations. The two stocks carry nearly 15% weightage on the Sensex.

Sensex ended with negative note

2009-09-23T17:49:00.002+05:30

The Sensex ended with a negative note on Wednesday. Earlier, the Bombay Stock Exchange benchmark Senesx opened with positive note at 19 points at 16,905. Thereafter, it plunged in negative terrain and finally ended in red. It closed down 170 points at 16,717. On the other hand, the National Stock Exchange index Nifty ended below 5000 mark. It was ended marginally in the red at 4969.95 points, down 1 per cent. Broader market indices also ended in the positive terrain, with the BSE midcap index closing 1.29% lower and the BSE smallcap index down 1.44%.

The markets breadth was negative. Out of 2,864 stocks traded, 1,001 advanced and 1,784 declined. Sterlite increased 1.09% to Rs 769, HDFC Bank gained 1.45% to Rs 1,560 and Sun Pharma surged 0.58% to Rs 1,212. Bharti Airtel shunk 3.43% to Rs 414, Reliance Communications down by 2.9% to Rs 308 and Jaiprakash Associates dipped 6.34% to Rs 235. Reliance Infrastructure, Hindustan Unilever and Mahindra & Mahindra were plunged in red between 1 and 2% each.

Sensex ended down 0.5%

2009-09-14T18:26:00.002+05:30

The Sensex ended down 0.5 per cent on Monday. Earlier at the starting of the trade, it opened 79 points lower and continued the negative trend throughout the day. The BSE-30 share index tried to recover during final trading hour, however, could not succeed. It touched an intra day high of 16,252, still down 12 points from the previous close. Japan's Nikkei stock average fell 2.3% to 10,202 today with Toyota Motor Corp and other exporters battered as the dollar hit a 7-month low against the yen.

The market breadth was marginally positive - out of 2,855 stocks, 1,473 advanced, while 1,309 declined. Tata Steel led the combined value chart on both the BSE and the NSE with a turnover of Rs 798.6 crore. It was followed by HDIL (Rs 674.35 crore), DLF (Rs 627.7 crore), Aban Offshore (Rs 625 crore) and Reliance (Rs 617.11 crore). IFCI topped the combined volume chart with trades of over 46.87 million shares. It was followed by Unitech (42.88 million), NHPC (46.66 million), Ispat (39.15 million) and Suzlon (36.48 million).

Sensex touches 16,215 pts

2009-09-09T16:39:00.004+05:30

After trading in negative zone, the Bombay Stock Exchange benchmark Sensex touched a high of 16, 215. It was 170 points up from the day's low. At present, the Sensex is at 16,211, up 87 points. Similarly, the National Stock Exchange index Nifty at 4,280, up 15 points. Overall, the market breadth is negative. Out of 2,843 stocks, 1,521 have advanced, while 1,239 have declined so far.

Realty index has declined the most.Index heavyweight Reliance has soared nearly 4% to Rs 2,158. Hindalco has also surged nearly 4% to Rs 119. Jaiprakash Associates has gained 2.5% to Rs 239. Tata Power, HDFC Bank and HDFC have advanced 1.5% each to Rs 1,297, Rs 1,474 and Rs 2,524, respectively. Tata Steel has added over 1% to Rs 461. Among the Nifty stocks, Cairn India and Axis Bank have added 1.5% each to Rs 270 and Rs 918, respectively

Sensex up, thanks to European markets

2009-09-04T17:56:00.002+05:30

At last, the Sensex bounced back and ended with positive note on Friday. It was up 290 points at 15, 689 at the close of trade. It was all due to the positive cues from the European markets that support the Sensex to come back in positive terrain. The Bombay Stock Exchange benchmarks index opened with a marginal gap of 28 points at 15,426. At noon, it was in negative shade with 15,359 points.

Then buying in metal, auto and index heavyweights saw the Sensex up to a high of 15,741 which was the day's high (382 points). On the other hand, the National Stock Exchange Nifty index touched low of 4,580, and then soared to a high of 4,697. All the sectoral indices gained with auto and metal indices leading. The auto index gained 3% at 6,079 on the back of good sales numbers from most of the vehicle majors. Metal index added 2.7% to 12,496 on hopes of an increase in demand with the economic recovery. The market breadth was positive. Out of 2,831 stocks traded 1,576 advanced while 1,162 declined.

Mahindra & Mahindra rallied 6% to Rs 864 on plans to enter the US market. Hero Honda added 4% to Rs 1,602. Metal major, Sterlite gained 4% to Rs 670. Larsen & Toubro, HDFC, ONGC and ITC advanced 3% each. Grasim, ACC, Maruti Suzuki, Reliance, Hindustan Unilever, Tata Steel, Reliance Infrastructure, Hindalco and Tata Power also moved up around 2% each.

Sensex bounces back, touches 15K mark

2009-08-18T17:42:00.002+05:30

MUMBAI: The Bombay Stock Exchange benchmark Sensex ended touching 15K mark on Monday after kissing around 14, 746 points. In the early trade today, the Sensex opened 39 points lower at 14, 746. During the day, it touched gain and again fell into red zone. But thanks to extensive buying in realty, metal and power stocks that brought back the Sensex to its glory. Finally it was at 15,134 points and the total gain was 250 points.

The positive figure is 1.5 per cent more than its previous close. The NSE Nifty ended at 4459, up 1.5%. The market breadth was positive. Out of 2,714 shares traded, 1,733 (64%) advanced, 900 (33%) declined and 81 (3%) were unchanged on the BSE today.

The midcap and the smallcap indices outperformed the broader market. The indices were up 2% each. All the sectoral indices ended in green. The BSE Capital Goods Index surged around 4% to 12,314. The Realty, metal and Power indices added over 2% each. Auto, bankex, FMCG, oil & gas, healthcare, consumer durables and IT indices were the other sectoral movers.

Tata Motors down 1 per cent to Rs 410

2009-08-10T17:11:00.003+05:30

Auto stocks saw down fall for the fourth straight day, Monday, in the view of monsoon. Tata Motors which is going to launch Tata Indigo Vista experienced 1 per cent fall at Rs 410. In the month of August, Toyota is to roll out Toyota Fortuner in the Indian car market. This SUV is supposed to be priced between Rs 18 to 20 lakh. Meanwhile, other loser in the auto industry are Bajaj Auto, Maruti Suzuki and Mahindra. The automobile index slipped 2.4% at 5,326. In the early trade, the index opened at 5,557 and touched a low of 5,311. The BSE auto index has underperformed the boader market and has declined 11.5% since Tuesday's close of 6,007. Mahindra & Mahindra dipped 5% to Rs 791. Maruti Suzuki fall 3% to Rs 1,253. Hero Honda slipped 2.2% at Rs 1,449. Escort and Amtek Auto has dipped 2.5% each to Rs 68 and Rs 135, respectively. Bajaj Auto has dropped 1.5% to Rs 1,159. However, Cummins and Ashok Leyland are up marginally at Rs 290 and Rs 33, respectively.

Maruit rises 1.4 per cent

2009-08-03T17:27:00.003+05:30

MUMBAI: In the volitale market, Maruti Suzuki India Ltd. Surged 1.4 per cent.

In the early trade, the Sensex was in positive terrain. Maruti's value increased after it announced vehicles sales last month. On Monday morning, the Bombay Stock Exchange benchmark Sensex was up 17 points at 15688, at 12.30 p.m. While National Stock Exchange index Nifty was up 8 points at 4644. Sterlite gained 3 percent.

A measure of six metals traded in London jumped 1.7 percent on Friday. The gauge swung between gains and losses at least six times after advancing as much as 0.6 percent. Two stocks rose for each that fell on the benchmark. The S

Market watch: Little effect of monetary policy review

2009-07-28T17:47:00.002+05:30

MUMBAI: The markets remained unaffeceted to the monetary policy review by Reserve Bank of India. At aroun 2.40 p.m., the Bombay Stock Exchange benchmark Sensex was down by 7.75 points at 15,367. While the wide-based National Stock Exchange index was down by 3 points at 4,569.30. Earlier in the opening trade, markets were showing growth but couldn't contain it through the day.

The RBI on Tuesday kept the key rates unchanged. It kept the bank rate - the lending rate at which banks borrow from RBI-- unchanged at 6 per cent. Short-term lending (repo) and borrowing (reverse repo) have been retained at the same level of 4.75 per cent and 3.25 per cent respectively.

Tata Motors stock today climbed over 7.50 per cent or Rs 28.50 at Rs 402.70 on the NSE on strong first quarter earnings yesterday. The US Dow Jones Industrial Average ended 0.17 per cent higher yesterday.

Meter down: Markets struggling to B+

2009-07-21T16:04:00.003+05:30

MUMBAI: The markets were struggling hard to recover and jump in positive terrain. In a volatile kind of market, the Bombay Stock Exchange benchmark Sensex slipped 109 points at 15081 and the wide based National Stock Exchange index Nifty was down 22 points at 4479, at around 2.45 p.m.

The indices were trading in a wave like way since morning. Steel stocks are leading the recovery. Jindal Steel has surged over 3.5% to Rs 2,758. Tata Steel has gained 2.3% to Rs 391, and SAIL has added 1.8% to Rs 169. Maruti has rallied nearly 3% to Rs 1,244. Maruti has launched its Maruit Grand Vitara recently. Idea Cellular has advanced over 2% to Rs 75. Ranbaxy, Larsen & Toubro and Reliance Infrastructure are the other prominent gainers.

On the other hand, TCS has plunged nearly 4% to Rs 481. GAIL India has shed 3.5% at Rs 327. Mahindra & Mahindra has dropped nearly 3% to Rs 798. Suzlon and BHEL have slipped around 2.5% each to Rs 92 and Rs 2,224. ITC, ACC, Sterlite, Tata Communications and NTPC are also down around 2% each. Meanwhile, the BSE index, the Sensex is now down 100 points at 15,091. The market breadth is almost neutral, with 1,293 declining stocks as against 1,249 advancing stocks.

Sensex returns to negative zone

2009-07-09T18:00:00.002+05:30

MUMBAI: The Indian markets remain in negative zone on Thursday. Nevertheless, the opening was positive. After the lots of up and down the Bombay Stock Exchange benchmark Sensex closed flat at 13,757, down 11 points. While the wide-based National Stock Exchange index Nifty ended at 4080, down 2 points.

The Intraday range for the day was 236 points and it touched a high of 13,879. The BSE Metal added 1.5%, followed by Health care and FMCG indices up 1% each. Consumer Durables and Capital Goods indices were down 1% each. The market breadth was negative - out of 2,638 shares traded, 1,462 declined and 1,078 advanced on the BSE.

Reliance Infrastructure and Sun Pharma advanced around 2.5% each to Rs 1,101 and Rs 1,170, respectively.TCS and Sterlite added over 2% each to Rs 388 and Rs 557, respectively. Tata Power and HDFC Bank increased over 1.5% each to Rs 1,099 and Rs 1,399, respectively. Jaiprakash Associates, Reliance and Hero Honda were up 1% each.

Budget effect: Sensex hits 15K mark

2009-07-06T13:02:00.003+05:30

NEW DELHI: The markets responded positively as the Union Budget is to be presented at 11 am on Monday. The Bombay Stock Exchange benchmark Sensex moved up to 15,000 level in the opening trade. While the wide-based National Stock Exchange index Nifty soared to 28 points higher at 4459.

The BSE Sensex was up 113 points at 15,026.While presenting the interim Budget for this year in February, Mukherjee had said: "While the proposed provisions are appropriate for a Vote-on-Account, I would like to point out that Plan expenditure for 2009-10 may have to be increased substantially at the time of the presentation of the regular Budget, if we are to give the economy the stimulus it needs to cope with the global recession that is likely to continue through the year.

"There is, in the Economic Survey presented on Thursday, enough indication that the FM might look at another source for raising funds. That's the disinvestment route.

Sensex surged after eco survey tabled, again into red

2009-07-02T15:45:00.002+05:30

MUMBAI: The Sensex surged sharply to 100 points at 14, 756 after the economic survey tabled in the Lok Sabha on Thursday. But tumbled down into red owing to a sudden spate of selling. It was down 14 points at 14,631. Mixed trends in Asian stocks also influenced the Indian markets. While the wide-based National Stock Exchange index Nifty slipped 7 points at 4333 points.

Earlier in the opening trade, equities opened slightly higher today ahead of the annual Economic Survey that could be an indicator for policies included in the Union Budget next week. Oil PSU stocks attracted fairly heavy buying after the government's decision to hike petrol and diesel prices by about 10 per cent.

Markets trade in green

2009-06-29T10:56:00.003+05:30

MUMBAI: The markets were trading in green on Monday in early trade. At 10.30 am, the Bombay Stock Exchange benchmark Sensex rose 2 points, to 14,767. similarly, the wide-based National Stock Exchange index Nifty down 3 points at 4371. However, the markets opened with higher gains. Among the frontliners, Unitech, BPCL, HDFC Bank, Power Grid, Hindalco, Sterlite, Reliance Capital, GAIL, Ambuja Cements, HCL Tech and Tata Steel were witnessing buying interest. However, Suzlon, Tata Motors, Sun Pharma, ICICI Bank and ACC lost ground.

The CNX Midcap went up 25 points, to 5,536. About 430 shares advanced while 109 shares declined on the NSE. Unitech was up over 3%, as the company raised $ 575 million from second QIP. Tata Steel has bounced back after seeing selling pressure on Friday. Suzlon Energy tanked over 6% and Tata Motors slipped over 3.5% post disappointing numbers. Sun Pharma was down 3% as the company withdrew FY10 guidance. Rishabhdev Technocables listed on the BSE On Monday, went up 20% to Rs 40 a share as against its issue price of Rs 33 a share.

Market growth positive, BSE up 155pts

2009-06-25T12:18:00.002+05:30

MUMBAI: The markets could maintain the growth on second successive day. On Thursday, the Bombay Stock Exchange benchmark Sensex showed positive mood and gained 155 points in the opening trade. The market was totally influenced by a firming trend in other Asian markets.

The Sensex which had gained over 98 points on Wednesday added 155.73 points at 14,578.46 in the first five minutes of trading. Similarly, National Stock Exchange's Nifty moved up by 45 points at 4,337.95 as blue-chip stocks, led by Reliance Industries and Infosys, recorded handsome gains.

Marketmen said trading sentiment improved after most of the Asian markets opened higher on Thursday. Hong Kong's Hang Seng index was up by 1.47 per cent, while Japan's Nikkei rose 2.40 per cent in the morning trade.

Sensex finished in red

2009-06-22T17:21:00.003+05:30

MUMBAI: After enjoying green in the early trade on Monday, the Bombay Stock Exchange benchmark Sensex finished in red. At the end of the closing, the index was down by 252 points at 14,269.77 points. It was lower than Friday's close. Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) ened the day 2.11% down at 4,222.7 points. Broader market indices too lost with the BSE midcap index falling 0.8%, while the BSE smallcap
index moved down 0.49%.

Earlier in the day, the BSE slipped by 133.55 points at 14,390.34, at 3.15 pm. In the same way, Nifty dipped 61.15 points at 4252.45. Profit booking made the market to plunge in negative terrain. Earlier in the opening trade, the Sensex gained nearly 108.37 points with stocks of oil and gas, and power sectors reacting to profit-taking by funds and retail investors. Whereas Nifty slipped 56.80 points at 4,256.80 at the same time. Stock brokers said emergence of profit-taking at improved levels and weak opening at the European stock markets mainly reversed an early firming trends on the domestic bourses.

Fiat Grande Punto launched

2009-06-19T17:38:00.002+05:30

Fiat India Automobiles Ltd (FIAL) has introduced its premium compact car Grande Punto in New Delhi. The company rolled it out in both petrol (1.2 litre an 1.4 litre) and diesel modes (1.3 litre). The petrol variant has the price tag of Rs 3.99-5.61 lakh and the diesel model is priced at Rs 4.85-6.11 lakh. The much-awaited car was first unveiled at European market in the year 2005. This car model is launched through a 50:50 joint venture between Italy-based Fiat SpA and domestic auto major Tata Motors.

The newly introduced small car would be rolled out from the company's facility at Ranjangaon in Maharashtra. The Grande Punto is to compete with Maruti Suzuki's Ritz, Hyundai's i20, Skoda's Fabia and Honda Siel's Jazz. Grande Punto would be retailed through over 100 Tata-Fiat dealers network in India. FIAL Chief Executive Officer Rajeev Kapoor told media persons that Grande Punto's launching is a new milestone for the company in the country since Fiat introduce the Italian designs to the Indian soil.

He expressed his confidence by saying that Indian customers are eagerly want to switch to international brands and the compact-car segment is under-tapped. On Friday, the benchmark indices gained strength again on the back of buying in capital goods, technology, metal, realty, financials and auto stocks. The market man said that auto stocks are gaining now-a-days due to various car models launched in the month of June and some to roll out.

BSE up 53 pts, NSE down 15 pts

2009-06-18T13:07:00.002+05:30

MUMBAI: The markets opened in red in the early trade on Thursday. The Bombay Stock Exchange benchmark Sensex opened in the same mood as yesterday but rebounds. The Sensex was up 53.56 points at 14576.40 points , at 12.50 am. On the other hand, the wide-based National Stock Exchange index Nifty down 14.60 points at 4341.55. Thanks to the inflation rate dropping by 1.6% in first week of June to ten months after inflation peaked at 12.9% in early August.

Annual inflation was at 0.13% in the week before. The BSE Realty is down 3% at 3,280 and the Metal index has declined 2% to 11,041. SBI and TCS have advanced 2% each to Rs 1,698 and Rs 387, respectively. Sun Pharma, Infosys and Sterlite are up 1% each at Rs 1,315, Rs 1,734 and Rs 611, respectively. ACC has slipped 5.7% to Rs 779. NTPC and Tata Steel are down over 3.5% each at Rs 206 and Rs 403, respectively.

ONGC, Hindalco, Grasim and Jaiprakash Associates have dropped over 2.5% each to Rs 1,033, Rs 91, Rs 2,253 and Rs 200, respectively. DLF, Maruti, BHEL, HDFC Bank and Larsen & Toubro are up 1% each. The market breadth is extremely negative - out of 2,330 shares traded, 585 have advanced and 1,682 have declined so far on the BSE.

Market volatile, Sensex slipped 284pts

2009-06-15T15:10:00.002+05:30

MUMBAI: News about Reliance Industries forced the market to slow the growth in early trade and it resulted in fall of markets. The Bombay Stock Exchange benchmark Sensex slipped 284 points at 14953 at 1.15 pm. The wide-based National Stock Exchange dipped by 56 points to 4,517.40. The high court ruled that Reliance Industries will have to sell gas at $2.34 per mmBtu to Reliance Natural Resources Ltd (RNRL).

This had a huge impact on market and the BSE fell extending its losing streak for the third session, on increased capital outflows by foreign funds tracking other weak Asian markets. Stock brokers said reports of weakening trend at the Asian markets, slipping from almost eight-month highs struck earlier this month, and profit-bookings at prevailing levels by retail investors, mainly dampened the trading sentiment. Major losers, which dragged the Sensex down, were metals, realty, consumer durables and banking stocks.

Sensex plunges in negative zone (for Stock review blog)

2009-06-11T12:26:00.004+05:30

MUMBAI: The Bombay Stock Exchange benchmark Sensex slipped nearly 100 points in the early trade, after remaining in the positive zone for two straight sessions, as funds and investors indulged in booking profits at higher levels amid a weak trend in the global markets. At 11.50 am, the Sensex was up 0.8 points, to 15,467. However, it was down 22.67 points to 15,444 at 11.30 am.

The 30-share barometer, however, had surged to 15,568.74 points at the outset. The wide-based National Stock Exchange index Nifty was down 2 points at 4,653.25 points. The market breadth was negative as the broader indices were quiet in trade.

Telecom, pharma, metal stocks and individual stocks like NTPC, HDFC Bank, ITC, L&T, ICICI Bank, Tata Motors and M&M were witnessing buying interest. However, downtrend in oil & gas, technology, select cement and power stocks was putting pressure on the markets. Among the broader indices, the BSE Midcap Index was up 0.5% and the Smallcap was flat. About 1137 shares advanced while 1643 shares declined on the BSE.

Sensex slips 90pts

2009-06-08T13:25:00.002+05:30

MUMBAI: The Sensex could not maintain the winning mood on Monday's trade. The Bombay Stock Exchange benchmark index slipped 90 points to 15,008. In the early trade it gained 90 points but fail to continue it further and dropped in negative zone. The BSE Realty index has slipped 4% to 3,872.

The Metal and the Bankex indices have dropped 2.5% each to 11,399 and 8,015, respectively. Grasim has added 3% to Rs 2,586. Infosys has gained 2.5% at Rs 1,732. Reliance, Wipro, Larsen & Toubro and Maruti are up over 1-1.5% each. SBI, Jaiprakash Associates and Sterlite have dropped over 4% each to Rs 1,737, Rs 221 and Rs 645, respectively.

Tata Steel has slipped 3.5% to Rs 447. DLF and Hindalco have declined over 2.5% each to Rs 395 and Rs 90, respectively. Ranbaxy, ONGC,ACC and Mahindra & Mahindra, BHEL, ICICI Bank,HDFC, NTPC, ITC and Hindustan Unilever are down 1-2.5% each. Out of 2,661 shares traded, 1,776 have declined and 834 have advanced so far on the BSE.

The Nifty was hovering around the 4550 level while the Sensex was trading above the 15,000 mark. The wide-based National Stock Exchange lost 41 points, to 4,545. Among the broader indices, the BSE Midcap fell 1.4% and the Smallcap Index declined 2.4%.

Sensex jumps into positive zone, up 82 pts

2009-06-04T17:35:00.003+05:30

MUMBAI: The Bombay Stock Exchange benchmark entered into positive zone after touching a intra day high of 14953.33 and low of 14523.62. At 2.35 pm, it was up 82 points at 14,948.90. similarly, the National Stock Exchange gained 29.20 points at 4,559.90. It was all resulted and inspired by European markets opened in the positive terrain.

The broader index hit a high of 4557.65 and low of 4453.45. BSE Midcap Index was up 1.72 per cent and BSE Smallcap Index gained 1.79 per cent. Amongst sectoral indices, BSE Realty Index was up 2.65 per cent, BSE Healthcare Index gained 2.34 per cent and BSE Capital Goods Index moved 2.34 per cent higher. BSE Metal Index slipped 1.90 per cent and BSE IT Index declined 1.08 per cent. Ranbaxy Laboratories (5.86%), Sun Pharmaceuticals (4.65%), Hindustan Unilever (4.21%), Reliance Communications (2.40%) and Reliance Infrastructure (2.18%) were amongst the Sensex gainers.

Losers included Sterlite Industries (-5.26%), Hindalco Industries (-3.44%), Tata Steel (-3%), Infosys Technologies (-2.18%) and Tata Power (-2.09%). Market breadth remained positive on the BSE with 1979 advances and 783 declines. European markets opened higher Thursday ahead of Bank of England's monetary policy review and as rise in crude oil prices spiked energy shares . FTSE 100 was up 0.52 per cent, CAC 40 gained 0.65 per cent and DAX moved 0.90 per cent higher.

Sensex gains 215 points at 14,840.63

2009-06-01T18:23:00.004+05:30

MUMBAI: The Bombay Stock Exchange benchmark Sensex gained a high of 14,840.63 on Monday. It was highest closing since September 9, 2008. The total gain was 215 points. The Sensex opened gaining 120 points at 14,746 on strong global cues. In the day's trade, it touched a high of 14,906.81 and a low of 14,655.49. On the other hand, the National Stock Exchange's Nifty touched its 10-month high and finally ended 81 points higher at 4,530. The Small-cap was up 3.5% at 6,199 and the Mid-cap advanced nearly 3% to 5,207.

The BSE Realty and the Metal indices led the rally with over 5% gain each at 4,032 and 11,449, respectively. Major gainers were Sterlite Industries, Tata Steel, Jaiprakash Associates, NTPC, ACC and Housing Development Finance Corporation. On the other hand, Bharat Heavy Electricals, ICICI Bank, Bharti Airtel, Ranbaxy Laboratories, HDFC Bank, and Reliance Industries were the major losers in the Sensex. Overall market breadth was positive. Out of the total 2,870 stocks traded at BSE, 2,288 advanced, 544 declined while 38 remained unchanged.

Among the gainers there were: Tata Steel surged 8% at Rs 438 and Sterlite soared 7% to Rs 665. ACC, NTPC and Jaiprakash Associates advanced over 6% each to Rs 833, Rs 229 and Rs 220, respectively. Mahindra & Mahindra, HDFC and ITC added 5% each to Rs 710, Rs 2,298 and Rs 193, respectively. Reliance Communications, Infosys, Wipro, Hindalco, Grasim, DLF and Reliance Infrastructures gained 2-5% each. While ICICI Bank and BHEL dipped 2% each to Rs 723 and Rs 2,125, respectively. Bharti Airtel and Ranbaxy declined 1.5% each to Rs 806 and Rs 275, respectively.

Sensex opened on positive note

2009-05-28T12:55:00.004+05:30

MUMBAI: The Bombay Stock Exchange benchmark Sensex opened on positive note on Thursday too. In the early trade both the indices were enjoying rise. The Sensex was trading at 14,236 at 10.24 hours IST. It shows a rise of 127 points. While the Nifty rose 26 points to 4,302 at the same time.

Buying was seen in telecom (barring Idea and Tata Communication), power, technology, realty along with stocks like Reliance Industries, HDFC and ACC Bharti Airtel and L&T surged over 3.5%. However, ONGC, BHEL, SBI, Sterlite, Reliance Infrastructure, BPCL and Maruti were under pressure. The broader indices like the BSE Midcap and the Smallcap indices gained 0.8-1%. About 2038 shares advanced while 749 shares declined.

Nearly 342 shares were unchanged. Among the midcap stocks, Matrix Lab, Sunteck Realty, Essar Shipping, GE Shipping and Godrej Consumer were up 6-9%. However, Era Infra Engg, TV18, Deccan Chronicle, Pidilite Industries and Shree Cements fell 3.8-4.5%. In the smallcap space, Novartis India, Hatsun Agro, Garden Silk Mills, Sahara One and Balmer Invest went up 8-14% while Anus Labs, TV Today Network, Temptation Food, Accel Frontline and Walchandnagar lost 4.6-9%.

Sensex remain volatile, ends up 12.14 pts

2009-05-25T17:16:00.004+05:30

MUMBAI: On the first day of the week, Sensex remained volatile. On Monday, the Bombay Stock Exchange benchmark Sensex was flat and ended up 12.41 points to 13,899.56. During the day metal, capital goods, banking sector and realty sector stocks gained. Major gainers on the Sensex are DLF Ltd up 5.25 per cent to Rs 351.50, Tata Steel 2.70% to Rs 373.40, Sterlite Industries was surged 4.19 per cent to Rs 529.15 and Larsen and Toubro 1.60 per cent to Rs 1,322.

The Sensex opened with a positive gap of 101 points at 13,988, on Monday. Around noon it soared to a high of 14,028, up 141 points. However, the index could not hold gains and slipped into the red to touch a low of 13,819, down 209 points from day's high. Suzlon and Jindal Steel dipped 5% each to Rs 89 and Rs 2,078, respectively. HDIL slumped 4% to Rs 294. Cairn India, Tulip Telecom, National Aluminium Company, BEML, Punjab National Bank, IDFC, GMR Infrastructure and Indian Bank were also slumped. The market breadth was extremely positive -out of 2,816 stocks traded about 87% (2,470) advanced while only 11% (316) declined and the rest were unchanged today.

Sensex down 135 pts

2009-05-21T12:36:00.005+05:30

MUMBAI: After a 17.5% post-election rally earlier this week, the Sensex plunged into negative zone on Thursday. This was a result of profits taking of investors. In early trade, the Bombay Stock Exchange benchmark Sensex was slipped by 135 points at 13, 926.The market breadth is extremely positive. Out of 2,307 stocks traded, 1,960 have advanced while only 308 have declined.

Among it, Maruti Suzuki has dipped 6% to Rs 978. Larsen & Toubro has shed 5% at Rs 1,293. Mahindra & Mahindra and ICICI Bank have decreased 3.5% each to Rs 653 and Rs 683, respectively. SBI, HDFC, ACC, Wipro, Sun Pharma, ITC, BHEL and HDFC bank have dipped 1-3% each. Meanwhile, Reliance Communications has gained 3.5% at Rs 319. Jaiprakash Associates and Sterlite have advanced 2% each to Rs 177 and Rs 556, respectively. Ranbaxy, Tata Steel and NTPC have added 1.55 each. ONGC, Tata Motors and Tata Power have surged marginally.

Sensex zoomed 2,099 pts at 14K, trading halted today

2009-05-18T12:41:00.004+05:30

MUMBAI: The Sensex was celebrating the Lok Sabha victory of UPA on Monday. It seemed like the marketmen were waiting for only this move. All the major sector-indices were trading in the positive zone. The Bombay Stock Exchange benchmark Sensex jumped 2099.21 points at 14,272.63 and the Nifty gained 636.40 points at 4,308.05. Total volumes traded on both exchanges were at Rs 3100 crore. This comprised of Rs 2800 crore from the NSE F&O segment, Rs 300 crore from NSE & BSE cash segments.

The previous close on Friday was 12,173.42. The Sensex regained the 13,000 level for the first time since September 18, 2008. This was the first time that the Sensex surpassed the 13,000 mark and the Nifty crossed the 4000 level.

Trading halted for the day: The market authorities decided to close trading for the day as the markets hit 20% upper circuit. After the five minute trading, the Sensex re-opened at 11:55 am.

The benchmark indices locked at upper circuit. The BSE and NSE have decided that the trade will start at 11:55 am (i.e. after two-hour halt). In the first 30 seconds of trade, the Sensex crossed the 13,000 mark and inched up towards 14,000 level. Huge upsurge of 420 points or 11.4% in the SGX Nifty was suggesting the same trend. The 50-share NSE Nifty was up 531.65 points or 14.48% at 4,203.30 and the 30-share BSE Sensex surged 1,789.88 points or 14.70% to 13,963.30. Less than Rs 1000 crore of trade was seen in the cash and F&O segment.

Sensex tumbles 106 pts at 11k

2009-05-14T13:18:00.003+05:30

MUMBAI: The Sensex tumbled on Thursday in the early trade. The Bombay Stock Exchange benchmark Sensex dipped, recovered and than slipped down 106 points at 11,913. In the same way, the wide-based National Stock Exchange index Nifty declined by 97.65 points to 3,537.60 points. It was the reflection of selling by funds amid uncertainty over the result of the Lok Sabha polls.

Tata Motors and Bharti Airtel have dipped 3% each to Rs 260 and Rs 773, respectively. ICICI Bank has declined over 2.5% to Rs 535. Sterlite and wipro were fell over 1.5% each to Rs 465 and Rs 369, respectively. DLF and Mahindra & Mahindra have advanced 2% each to Rs 238 and Rs 521, respectively. The market breadth is fairly negative. Out of 2,041 share traded, 1,112 have went down, 855 have advanced and 74 are unchanged.

Maruti dips 2 per cent despite new launch

2009-05-14T12:55:00.006+05:30

Maruti Suzuki's has declined 2.04% to Rs 821.90. The shares of the company opened at Rs 825 and gained Rs 834.80. when trading on BSE, it gained a high of Rs 839. On the other hand trading on NSE, the shares opened at Rs 815.65 and touched a high of Rs 834.35. The previous close was Rs 839.05. The volume of shares traded at the BSE, in the noon was 314.04k (Thursday). The market did not respond to the company's new launch to be held on Friday. It may be recalled that Maruti Suzuki is going to launch its new hatchback Maruti Ritz in India on Friday.

This car will have several firsts tagged with it like Tata Nano. Ritz will be the first car which would have the engine that is compliant BS-IV emission norms. Moreover, The new hatchback will be availabel with two different engine K12M 1.2 litre petrol engine and 1.3 litre diesel engine. Modified suitably to comply with the forthcoming BS-IV emission norms and provide even better driveability, the diesel will run even cleaner than before, and Maruti claims it will run 21 kilometres for every litre of diesel. The company's new invention K12M engine, which is used for the first time in Ritz, is claimed to be more fuel-efficient and eco-friendly. However, the price of the car has not disclosed yet.

Industry experts says that it would be priced at about Rs 4.5-5 lakh. The car will be positioned in the premium A2 segment. The company has the largest market share of 58 per cent in the A2 segment. The company's ambitious car Ritz is expected to consolidate its leadership in the highly competitive compact car segment. This will be the eight car from company after successful launching of Swift, Zen Estilo, SX4, Swift Diesel, Grand Vitara, Swift DZiRE and A-star.

Sensex slips into negative zone

2009-05-11T12:43:00.002+05:30

MUMBAI: The Sensex dipped into the negative zone and could not rise up. However, Asian Markets were tarding high. On Monday, The Bombay Stock Exchange benchmark Sensex was down by 50.80 points at 11,825.63 and the wide-based National stock Exchange index Nifty was down by 19.80 points at 3,600.90.

The index is now fall 51 points at 11,11825. CICI Bank has continued to increase quickly and strongly and is now up 4% at Rs 541. ONGC has advanced 2% to Rs 902. Reliance Infrastructure, Sterlite, ACC,Mahindra & Mahindra and Tata Steel have increased 1% each. While, Hindustan Unilever has shed 2.5% at Rs 227. Bharti Airtel has slipped 2% to Rs 754. DLF, BHEL, Jaiprakash Associates and Ranbaxy has down 1% each.

BSE's new CEO's name to be disclosed on Monday

2009-05-09T18:56:00.002+05:30

MUMBAI: The name of the new CEO of the Bombay Stock Exchange will be declared on Monday.
It is to be mentioned here that the Board of the Bombay Stock Exchange is going to appoint a new CEO for the exchange. The Board met on Saturday to discuss about the post. BSE's Chairman Mr Jagdish Capoor said that the board would declared the name of the new CEO on Monday. He was speaking to the reporters after the Board Meeting.
The Bombay/Mumbai Stock Exchange Limited has the greatest number of listed companies in the world, with 4700 listed as of August 2007.

On 31 December 2007, the equity market capitalization of the companies listed on the BSE was US$ 1.79 trillion, making it the largest stock exchange in South Asia and the 12th largest in the world. Around 6,000 Indian companies list on the stock exchange,[3] and it has a significant trading volume. Though many other exchanges exist, BSE and the National Stock Exchange of India account for most of the trading in shares in India.

Sensex past 12K level after seven month

2009-05-09T15:34:00.002+05:30

MUMBAI: The major achievement for Sensex in this week was touching 12K mark on Monday. The Sensex was seen on this level before seven month i.e. October 2008. on that day, Sensex jumped to 731.50 points. The Bombay Stock Exchange (BSE) 30-share barometer extended its weekly rally to ninth straight week, gaining another 473 points but unable to sustain higher levels in the week.
In the same week it has the biggest weekly percentage-wise gains in the BSE record book as there was a rise of 42.65 per cent since July 24,2006.

In the week ended on Friday, the Sensex touch the intra-trade high of 12,272.10 on Wednesday before ending the week at 11,876.43, a net rise of 473.18 points or 4.15 per cent over its previous weekend's close. The market was firmly supported by strong global cues and continued capital inflows as well as encouraging built-up of derivatives positions in the opening week of May series amid Lok Sabha elections and upcoming government. Marketmen said the market also had support from hopes of early recovery in domestic as also global economy. The 50-issue Nifty of the National Stock Exchange flared up by 146.75 points or 4.22 per cent to finish the week at 3,620.70 from its last weekend's close. Sustained frenzied buying by Foreign Institutional Investors on the back of signs of early revival in the global economy boosted the market sentiment.

Metal, consumer durable and metal shares topped the gainers table and drew heavy buying interest and notched handsome gains. As a result, the sectoral BSE-Metal index zoomed by 1,064.06 points or 15.45 per cent on the back of expectations of good demand from China after increase in the CLSA China's Purchasing Managers's index in April 2009 and also firm trend on London Metal E xchange (LME). The BSE-CD index rose by 190.91 points or 10.86% and the BSE-Realty by 225.20 points or 10.57%. The sharp increase was so strong that besides BSE-FMCG, all other sectoral indices closed in the green with a gain between 15.45 per cent and 1.78 per cent. 24 out of 30 index based counters also closed with sharp to moderate gains.

Sensex volatile in early trade

2009-05-08T12:17:00.004+05:30

MUMBAI: The Sensex was volatile in early trade on Friday. It was trading at 12,125.39 up 8.45 points. It bounced back at once and moved up to a high of 12,180. The Sensex has, however, again dipped into the red and is now flat at 12,113. The 30-share barometer, which had gained 164.19 points in previous day's trading, increased 63.13 points to 12,180.07 points in the first five minutes of trade. At the same time, the wide-based National Stock Exchange index Nifty increased by 27.35 points to 3,711.25 points.

Jaiprakash Associates has surged 3% to Rs 142. ONGC has gained 2% at Rs 906. TCS and Sun Pharma have increased 1.5% each to Rs 642 and Rs 1,306, respectively. Tata Power, DLF and Hindustan Unilever have also advanced. Meanwhile, HDFC Bank has declined 4% to Rs 1,127. Sterlite has shed 2.5% at Rs 505.

Mixed up & down, Sensex up 137 pts

2009-05-07T15:04:00.003+05:30

MUMBAI: The Sensex could manage to retain its previous high on Thursday. In the opening trade, it was up 112 points at 12, 065 and moved up to a high of 12,144. Then, it saw decline around noon and dipped to the day's low of 11,981. The Bombay Stock Exchange Benchmark index was seeing up and down with a positive bias and was up 137 points at 12,090.

Sterlite has moved up 8.5% to Rs 494. Hindalco has soared 6% to Rs 67. Tata Steel has rallied 4% to Rs 281. HDFC and Tata Motors have advanced 3.5% each to Rs 1,810 and Rs 273, respectively. DLF, Bharti Airtel, SBI, Wipro and Maruti Suzuki have increased 2.5% each. Meanwhile, Mahindra & Mahindra has slumped over 3% to Rs 514. ACC and Grasim have dipped 2% each to Rs 626 and Rs 1,765, respectively. Infosys, NTPC, Hindustan Unilever, TCS and ITC have declined around 1% each. The market breadth continues to be fairly positive. Out of 2,503 stocks traded, 1,533 have advanced while 873 have declined.

Sensex falls in early trade

2009-05-06T12:14:00.004+05:30

MUMBAI: The Bombay Stock Exchange benchmark Sensex dipped 90 points in opening trade on Wednesday due to profit-selling by funds amid political worries.

The 30-share barometer, which had gained 1,125 points in the last three sessions, down by 90.45 points to 12,040.63 points in the first five minutes of trade. Similarly, the wide-based National Stock Exchange index Nifty fell by 24.30 points to 3,627.60 points. Brokerage firm Nirmal Bang attributed that the outlook still remains bullish and one should think of buying on dips.

Now, the trading band has become narrow for the Nifty from 3715-3520 and a strong and major reaction will be seen only if Nifty breaks this trading range. The immediate resistance is at 3715 and intra-day support is placed at 3620-3580. This intermediate.

Sensex at a seven month high, crosses 12 k

2009-05-04T16:09:00.003+05:30

MUMBAI: Owing to continuous buying in metal, IT and banking stocks, the Sensex crossed 12,000 mark on Monday. It has reach the seven month high. The Sensex opened up 232 points at 11,635 in early trade. Traders were catching up with global markets after a long weekend back home.

The Bombay Stock Exchange is now up 600 points at 12,005. National Stock Exchange’s Nifty was near its day’s high at 3628.30, up 154.35 points or 4.44%. The broader index touched a high of 3629.45 and low of 3478.70. Sterlite has zoomed 12% to Rs 458. Mahindra& Mahindra and Hindalco have surged over 9.5% each to Rs 533 and Rs 59, respectively. Tata Steel and HDFC have increased over 9% each to Rs 260 and 1,893, respectively. Wipro has added around 8% to Rs 357. Larsen & Toubro, Jaiprakash Associates, TCS and ITC have gained over 7% each to Rs 940, Rs 149, Rs 668 and Rs 203,respectively.

BSE Midcap Index was up 3.43% and BSE Smallcap Index moved 3.08% higher. Amongst the sectoral indices, BSE Metal Index was up 7.14%, BSE IT Index gained 5.78% and BSE Bankex moved 5.52% higher. BSE Healthcare Index was up 1.42%. The market breadth is extremely positive, out of 2,364 stocks traded, 1,630 have advanced and 669 have declined so far.

Ranbaxy recalls Nitrofurantoin Capsules from US

2009-05-02T15:31:00.003+05:30

MUMBAI: Ranbaxy Laboratories, leading drug manufacturer, has voluntarily started recall of all lots of Nitrofurantoin Capsules. It is learnt that the company has to do this as it does not meet the US drug manufacturing standards. The capsules are used in treatment of infections. In a filing to the Bombay Stock Exchange on Saturday, Ranbaxy Labs said that Ranbaxy Pharmaceutical Inc (RPI), a subsidiary of Ranbaxy Laboratories, India’s largest pharmaceutical company, has begun to recall all lots of Nitrofurantoin (Monohydrate/Macrocrystals) Capsules, United States Pharmacopeia (USP) 100 mg, available in the market there.

Ranbaxy Pharmaceuticals Inc is engaged in the sale and distribution of generic and branded prescription products in the US. It is to be mentioned here that USP is an official public standards -- setting authority for all prescription and over-the-counter medicines and other health care products manufactured or sold in the US.

The filing stated that although certain lots of the products were determined to not be in conformity with the approved laboratory specifications, the company decided to recall all the lots, as a matter of abundant caution. The recall is being conducted in coordination with the Food and Drug Administration (FDA) and will be a retail level recall.

BSE, NSE closed for two days

2009-04-30T12:26:00.002+05:30

MUMBAI: Major markets will remain closed on April 30 and May 01 for Lok Sabha elections in the capital and Maharashtra Day, respectively. The markets include the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), Forex, Money, Bullion, Metals, Oils and Oilseeds, Cotton, Grains and Solvent.

The National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange (MCX) are also closed on Thursday.

Sensex ended the day with a hefty gain

2009-04-29T17:48:00.002+05:30

MUMBAI: The Sensex enjoyed gains throughout the day. It opened with positive note on Wednesday. The Bombay Stock Exchange benchmark Sensex rose by over 162 points in opening trade and ended up 413 points at 11,414. This showed growth of 3.78% at 11,414. It was told that the gains were the results of fresh capital inflows by foreign funds amid short-covering by speculators in view of monthly expiry in derivatives segment. Similarly, the wide-based National Stock Exchange's Nifty rose by 50.00 points, or 1.25 per cent, to 3,412.35 points. Banking, IT and energy stocks were the major gainers on Wednesday.

Gainers: ICICI Bank rose nearly 9% to Rs 478. Jaipakash Associates, Sterlite and Tata Power soared nearly 7% each to Rs 139, Rs 409 and Rs 894, respectively. Infosys, Reliance Infrastructure and Wipro rallied around 5% each to Rs 1,507, Rs 695 and Rs 331, respectively. Hindustan Unilever, TCS, Tata Motors, Sun Pharma, ONGC and Reliance were up around 4% each.

LOSERS: Bank of India plunged over 6% to Rs 235, and Godrej Consumers tumbled 5.5% to Rs 137. Indiabulls, United Phosphorous, Hindustan Copper, Reliance Power, Biocon, Central Bank and EIH dropped 2-4% each.

Sensex dips 370 pts at 11k

2009-04-28T18:53:00.001+05:30

MUMBAI: The Bombay Stock Exchange’s Sensex ended down 370 points to 11,001.75 on Tuesday. Whereas the National Stock Exchange’s Nifty closed at 3360.10, down 109.90 points or 3.17 per cent. The markets were down due to funds and general investors sold aggressively blue-chip stocks, principally of realty firms and banks. The key index has gained 35 per cent since sliding to its lowest in the year on March 9, making India one of the 10 best-performing stock markets in the world. Selling pressure increased as major market players squared up pending positions ahead of the expiry of April contracts in derivatives.

Apart form it, fears about the swine-flu epidemic impacting world trade, dampened the sentiment. Profit-selling was mainly in the stocks of banking, metals and capital goods, which was in the limelight for a long time. The realty sector index was the major loser as barring Akruti City, all the other 13 index constituents suffered heavy losses.
Jaiprakash Associates (0.08%) and Maruti Suzuki (0.04%) were the only gainers in the 30-share index. DLF (-8.35%), Reliance Infrastructure (-7.57%), Sterlite Industries (-7.54%), Tata Steel (-7.5%), Reliance Communications (-7.05%) were in the losers list.

Recession turns into human and development calamity: IMF, WB

2009-04-27T13:38:00.002+05:30

WASHINGTON: Global recession has turned into a human and development calamity. The most affected are developing countries. The World Bank President Robert Zoellick said it at a press conference after the Development Committee meeting here. He concluded that presently the world was facing unwanted and unpredicted meltdown and the poor was suffering the most. So that all of them had to work in this line to save the poor. He said that according to a research, most of the eight globally agreed goals are not going to met.

The goals include those related to hunger, child and maternal mortality, education, and progress in combating HIV/AIDS, malaria and other major diseases. The International Monetary Fund (IMF) and the World Bank (WB) has said the ongoing global slowdown is turning into a human calamity as it has hit millions of poor people across the world.

Sensex rebounds, gain 72 points

2009-04-27T13:13:00.002+05:30

MUMBAI: The Sensex recovers after early losses in opening trade on Monday. The Sensex was up by 72 points at 11401, while the Nifty was up by 12 points at 3492. The Bombay Stock Exchange benchmark Sensex fall over 152 points on selling by funds, triggered by weak trend in other Asian equity markets. The Sensex and Nifty found renewed buying and the bourses bounced back from the lows of the day. The BSE, which gained by over 510 points in the previous two straight sessions, fell by 152.50 points, or 1.11 per cent, to 11,176.55 as IT, oil and gas, banking and healthcare sector stocks leading the fall.

In the same way, the wide-based National Stock Exchange's Nifty fell by 44.80 points, or 1.29 per cent, at 3,435.95. Experts said selling pressure emerged on the domestic markets as other Asian markets fell into the negative zone after initial firmness.

Losers: Ranbaxy Laboratories plunged by 5.58 per cent to Rs 165.95.
Reliance Industries down by 0.31 per cent to Rs 1,779.
Infosys Technologies by 1.77 per cent to Rs 1,423.
Tata Consultancy by 0.48 per cent to Rs 579.80.
Wipro by 1.25 per cent to Rs 308.
State Bank of India down 1.44 per cent to Rs 1,289.
ICICI Bank by 0.81 per cent to Rs 429.

Markets progress in midweek

2009-04-25T16:34:00.003+05:30

MUMBAI: Markets key index, Bombay Stock Exchange was at a six-months high of 11,329.05 on Friday. In fact through this week, sensex improve day by day. However, for a couple of days it closed lower that the then previous day close. Broader market indices also continued to progress with the BSE midcap index going up 3.67 percent from its previous weekly close, while the BSE smallcap index gained 2.95 percent.

The markets closed on a volatile note on Monday, with the Sensex falling 230 points from the day's high to close at 10,979.5 points - a decrease of 43.59 points or 0.4 percent from the previous close. Tuesday, the Sensex fell 81.39 points or 0.74 percent to close at 10,898.11 points, while the Nifty lost 0.35 percent from its previous close to end trade at 3,365.3 points. Wednesday saw markets rebounding from the day's lows as investors sought to sell amid unclear conditions as to where the bourses were headed.

The Sensex closed at 10,817.54 points - lower by 80.57 points or 0.74 percent. The Nifty shed 1.04 percent from its previous close to end trade at 3,330.3 points. Markets made gains Thursday, with the Sensex moving up more than 300 points to close the day at 11,134.99 points. This was an increase of 317.45 points or 2.93 percent from its last closing figure. The Nifty gained 2.8 percent to close at 3,423.7 points. Weak Asian cues failed to discourage Indian markets Friday with the Sensex moving up 194 points or 1.74 percent to end trade at 11,329.05 points. The Nifty gained 1.67 percent to close at 3,480.75 points.

Gainers: Reliance Power (up 14.8 percent), Wipro (up 13.6 percent), Reliance Infra (up 12.4 percent), ACC (up 11.5 percent) and Grasim (up 10.3 percent).

Losers: Ranbaxy (down 5.1 percent), Maruti (down 4 percent), ICICI Bank (down 1.5 percent), NTPC (down 1.2 percent) and ONGC (down 0.9 percent).

Sensex gains in mid session (2.40 pm)

2009-04-24T18:07:00.002+05:30

MUMBAI: The Sensex bounce back at mid session after the initial jerks in the morning trade on Friday. AT 2.40 pm, it was up by 169.56 points at 11,304.55. The Sensex slipped into the negative zone and touched a low of 11,070 in the early mid session.

The wide-based National Stock Exchange's Nifty was up by 48.20 points at 3,471.90. The Bombay Stock Exchange benchmark Sensex moved up initially by over 80 points in opening trade, on funds buying even as heavy-weight Reliance Industries reported a nine per cent drop in its fourth quarter earnings. The Sensex, advanced by 80.30 points, or 0.72 per cent, to trade higher at 11,215.29 points with banking, metal and auto sector stocks leading the rally.

Stock brokers said overnight gains on the US markets and mixed trend in regional markets in early trade today mainly buoyed the trading sentiments on the domestic markets. Banking shares were in good demand after HDFC Bank posted encouraging Q4 earnings. Major gainers in the banking sector were HDFC Bank, up by 1.14 per cent to Rs 1,105, ICICI Bank by 2.01 per cent to Rs 432.10 and State Bank of India by 1.60 per cent to Rs 1,286.

Sensex started on a flat note

2009-04-23T12:18:00.001+05:30

MUMBAI: The sensex started on Thursday on a flat note at 10,841 for the fourth consecutive day. The index down 26 points at 10, 791. The Nifty fell 8 points, to 3,321, at early trade. Yesterday, the 30-scrip Bombay Stock Exchange (BSE) sensitive index (Sensex) fell 80.57 points at 10,817.54 points. Similarly,

The S&P CNX Nifty of the National Stock Exchange (NSE) shed 0.9 percent to close at 3,334.95 points. IT firm Wipro has got gain over 1.5% to Rs 286. Infosys, Reliance Communications, Reliance Infrastructure and TCS have advanced over 1% each at Rs 1,398, Rs 217, Rs 676 and Rs 549, respectively. On the other hand, Maruti Suzuki has dipped around 1.5% to Rs 744. Larsen & Toubro has declined 1% to Rs 818.

Both indices were under pressure, fall

2009-04-22T19:38:00.002+05:30

On Wednesday, both the indices dipped for the thrid consecutive session. These were under pressure throughout the day. However, in the early trade both the indices were enjoying a good gain. Capital goods, telecom, realty, metal, pharma, select power and banking stocks and individual stocks like ONGC and HCL Tech witnessed selling pressure.

However, buying in Reliance Industries, Wipro, Infosys, Suzlon, ITC, ACC, ICICI Bank and Ambuja Cements capped the losses. Traders were very cautious and wanted to have profit. The Sensex fell to end 80.57 points lower at 10,817.54. The key index touched the day's high 11,036.24 and a low of 10,715.66. In the same way, the 50-share National Stock Exchange index Nifty fell 35.00 points at 3,330.30, after rising to 3,401.10 points and dipping to 3,296.90 points. Broader market indices also lost, with the BSE midcap index shedding 1.15 percent, while the BSE smallcap index was down 1.62 percent.

The NSE has decided to remove 50 securities from F&O segment; most stocks affected by this news and have to face loss. Prominent stocks like Reliance Industrial Infrastructure, Gitanjali Gems, UTV Software, 3i Infotech, Arvind, SREI Infra, Balaji Telefilms, Escorts, Aptech, Mahindra Life and S Kumars Nationwide fell 8-13%. The broader indices underperformed the benchmark indices; the BSE Midcap Index fell 40.36 points or 1.15%, to 3,482.78 and the Smallcap Index slipped 65.30 points or 1.62%, to settle at 3,962.68.

Nifty Levels - 30 Dec 2008

2008-12-30T18:34:00.004+05:30

In morning whole of Asia was also trading in green so Nifty followed its asian counterparts in making merry. Nifty today shown a good upmove of around 2% and closed at 2980. Satyam, Idea , Rcom and M&M were major Nifty gainers with gains of more than 6%. Resignations of various board directors has somehow boosted investors moral with Satyam. Within last 2 sessions Satyam has shown nice upmove of more than 20%.

Today's Nifty Spot levels were
Open 2922.55
High 2999.15
Low 2899.75
Last 2979.50
Prev. 2922.20
Close
%Change 1.96%

As for tomorrow strategy Nifty again is moving in its resistance zone where it will face pressures from overhead supply . On upside Nifty will face major resistance around 3075-3090 range. Supports and resistance for NIFTY futures for tomorrow are as:

Support s1 2940 , s2 2980
Resistance r1 3030 , r2 3090

Nifty Levels - 29 Dec 2008

2008-12-29T20:30:00.004+05:30

Nifty today opened in red & traded 1.5% down but ended day on a positive note up more than 2% because of anticipation of new stimulus package from govt. SAIL and SATYAM helped Nifty a lot with both moving around 10% up in the day. RANBAXY , CAIRN and ICICIBANK were other major movers , all moving around 7%.

Today's Nifty Spot levels are as:

Open 2857.15
High 2931.80
Low 2812.90
Last 2922.20
Prev. 2857.25
Close
%Change 2.27%

As mentioned in Friday's post Nifty took support around 2820 levels to bounce and breach second resistance level of 2930 but ended close to it at 2922. For tomorrow Nifty has the following supports and resistance levels:

Support s1 2880, s2 2850
Resistance r1 2963, r2 2995

For tomorrow market seem to be indecisive. Oil rose near $40 a barrel Monday after the conflict between Israel and Gaza's Hamas rulers raised tensions in the Middle East. This global crisis can affect Indian and world markets. At the time of writing post DOW was trading in red . I hope Dow to fall further if any bad news come from Israel front. This can affect Indian markets also tomorrow.

Nifty Levels - 26 Dec 2008

2008-12-26T20:02:00.003+05:30

After Christmas holiday on Thursday, Nifty today opened in green & tested 2960 levels as mentioned in last post on Wednesday. After the expiry this new series of Nifty was suppose to start in cheerful mood as it did today, but after trading firm for quite some time it lost the momentum & ended in deep red.

While writing the post Dow has also lost some of its opening gains.Dow was trading at 8504 up 35 points after having a upside of 60+ points. Rallies in all the world markets are not sustaining with the momentum which is required. Nifty also traded in same manner today with a good of 40 points on upside it lost all its strength and ended 60 pints in red. Today Nifty spot levels were :

Open 2919.85
High 2960.95
Low 2844.80
Last 2857.25

This shows how perfect that level for 2960 in last post was. Now on Monday traders has to look for 2800 levels on closing basis. Any closing in nifty below that level is confirmation of of Bull slaughter by Bears. On Monday nifty has supports s1, s2 at 2850 and 2820 levels. On upside Nifty will face huge resistance 2880 and 2920 levels. A closing above 2920 will give bulls some relief on Monday.

Nifty Levels - 24 Dec 2008

2008-12-24T20:03:00.003+05:30

Markets are behaving in the way expected. Nifty today broke 2920 levels but not convincingly and closed at 2916 in spot. Also because of selling pressures from last 3 days, markets have reached in somewhat oversold range. There seems to comes some unexpected bounce on Friday . The levels for Friday are :

Supports s1 , s2 2880 2850
Resistance r1,r2 2960 2992

Tomorrow all Asian and global markets will remain close coz of Christmas. DOW seems to be in joyful mood with 40 points in green celebrating the pre Christmas day. It is kind of unexpected even though jobless data has grown to maximum.

On Friday Nifty will look for same relief from last 3 sessions selling pressures. So wont be surprised to see nifty going in green & trying to breach 2960 on upper side. But that will be seen on Friday morning till then Merry Christmas

Nifty Levels - 23 Dec 2008

2008-12-23T18:06:00.003+05:30

Today Nifty moved along with all its Asian and global partners in crime. Yesterday night DOW was showing signs of weakness and it ended down some 1%. In morning all the Asian indices were trading 2% to 3% down. So at end of day Nifty also followed same global trend and ended red around 2.5%.

Today's Nifty spot data are as:

Open 3039.25
High 3040.00
Low 2957.05
Last 2968.65

As mentioned yesterday Nifty took support around 2960 levels. You can see from last so many posts Nifty is respecting the levels mentioned on the blog. Although Nifty took support at 2957 & closed at 2968, but i can still say Nifty is not showing any major trend. It will be nice to see that on future downside how does Nifty behaves at 2920 tomorrow.

For markets to show a major trend its important to come out of trading range of 2920 to 3130 either side. Till then Nifty will be moving in this close range. I still think that recent upmove has fizzled out and this was again one of those dead cat bounces of market. Nifty can again do retest of immediate bottom formed at 2250 levels.

For intraday traders Nifty has supports s1 and s2 lying at 2930 and 2880 levels. For upside Nifty will face resistance at r1 and r2 at 2990 and 3030 levels. But the most important level to watch tomorrow is of 2920. Any close below this level will hurt Bull sentiments and boost Bears moral.

Nifty Levels - 22 Dec 2008

2008-12-22T19:11:00.003+05:30

Nifty again performed as the the way it was mentioned in friday's post. Nifty today was again in some profit booking spree with Reliance and ICICI bank acting as draggers. Nifty Spot levels for today were:

Open 3077.25
High 3110.45
Low 3027.80
Last 3039.30

As mentioned in last post Nifty took support around 3030 levels and closed near it. This signals a kind of weakness in Nifty with immediate resistances R1, R2 at 3090 & 3135 levels. On downside Nifty has supports S1, S2 at 2995 and 2960 levels. However short term immediate support is at 2920 levels which is a major weekly support for NIFTY.

While writing the post DOW has recovered 35 points and now trading up 6 points. there is no major news coming from domestic and global fronts too. So as of now Nifty is expected to behave in range from 2920 to 3130 for short term. Breaking either side will decide future course of action.

Nifty Levels - 19 Dec 2008

2008-12-19T17:38:00.005+05:30

All those who read my yesterday's post must have seen the accuracy of Nifty levels mentioned. Yesterday i especifically mentioned Nifty to face resistance at 3105 level & having support of day at 3030 levels. Just look at Nifty Spot levels of today below:

Open 3063.00
High 3106.80
Low 3036.30
Last 3077.50

Nifty followed exactly same levels & reversed from 3036 but faced resistance at 3106. I think a trader who has actually played with my figures must have earned at least 70 odd points in futures.

Speaking for Monday, there is intense TUG of war like situation going around in NIFTY. Today Nifty went till 3106 levels on the anticipation of another CRR cut by RBI. Bank Nifty was major help for Nifty along with Reality sector. While writing the post Crude was at five year low levels of 34$/bbl inspite of major supply cuts from OPEC. For Mondays Nifty's immidiate resistance is at 3130 level with support lying at 3030 , 2995 ,2960 levels. Any downside to 3030 can be taken as opportunity to go long for 3130 in Nifty.

Also there seems to be big money coming in play for 3100 call & 3300 calls which may be a hedge against the positional shorts. I find Nifty to still move in range . I still want Nifty to come out of 3240 levels with good volumes for further upside of 3500 which will be the ultimate target for NIFTY. But there is huge downside still left. I am not very sure with the exact bottom but 2252 is acting at short term bottom for this rally which can atmost go to 3500 levels.

But be sure this is not the end of pain till we dont cross 3500 levels in NIFTY. On downside i am still expecting a test for 2252 in coming levels. So get geared up for this huge TUG of War between BULLS & BEARS .

PS:: These reports are being written before US markets opening on friday, & weekly offs are there on saturday & sunday. Any major bankruptcy announcement can be a bad news for world economy . So please follow levels taking those news also into account.

Nifty Levels - 18 Dec 2008

2008-12-18T19:00:00.004+05:30

I was not able to post Nifty Levels yesterday coz of personal emergency. But Nifty behaved in the same way as was mentioned in previous post.

As mentioned in last post Since yesterday bulls were able to save 2930 so there was some hope left for today. Good news in form of low inflation numbers of 6.84% against the expected 7% helped bulls in the mid of day.

Today Nifty was able to present a good show & was able to make a sustainable show around 3050 and closed above 3050 mark at 3060. Same way for SENSEX also we were able to close a sentimental mark of 10000. But yesterday's market's behaviour says that we need a monthly closure above 10,500 mark of SENSEX so that this rally to get extended around 11,600 to 12,500 levels.

For Nifty these levels come out to around 3300. So a sustained closing above 3240 will make NIFTY look for more higher territory of 3500. Till these levels are not sustained we can see NIFTY in a close range from 2880 to 3050.

For tomorrow, Nifty will face resistance at 3105 levels. On downward side NIFTY has intraday major supports S1,S2 & S3 as 3030 , 2995 ,2960 .

Nifty Levels - 16 Dec 2008

2008-12-16T16:39:00.004+05:30

After continuous efforts of two days Nifty Levels was able to cross Hurdle of 3030. Tomorrow is an important FOMC MEET which is supposed to decide about Fed's future rate decision. FED interest rate is on 1% so another cut will actually bring it near to nothing i.e, ZERO. So even at this levels anything done by FED is important for sentiments of world economies rather than technicals.

For Nifty Upside seems to fizzle around 3150-3300 levels. A good upmove above this channel will help BULLS much sentimentally . Any downside below 2860 levels will boost BEARS morals & then they will try with their full strength for testing October lows of 2200. But if Bulls are able to save 2930 then may be they can see some more greener pastures in NIFTY.

Nifty Levels - 15 Dec 2008

2008-12-15T19:47:00.002+05:30

NIFTY Support 2881 ON DOWNSIDE.Breach of which will see 2860 AND 2980 LEVELS is a resistance. Before the Outcome of the FOMC MEET on Wednesday traders can see profit booking as 50 bps reduction in interest rate is discounted.

call writers are seen at 3000 ce strike price. TRADERS should HAVE A SL AT 2890 LEVELS FOR LONGS and a sl at 3045 for shorts.

Nifty levels - 27 Nov 2008

2008-11-27T19:30:00.006+05:30

Nifty & BSE both Indian stock markets were shut down due to Mumbai terror attacks. Expiry date for this month's futures contracts is postponed for tomorrow i.e, 27 Nov 2008.

Mumbai attacks are the first of its kind seen by the nation. The scale of destruction & the retaliation shown by terrorist make all of us think hard about our safety. These terrorists have been popping out like cockroaches & it seems common man is not safe inside their toilets even.

Let us condemn these attacks from our full strength!!!!

Indian Bailout Schema

2008-11-26T20:10:00.006+05:30

Have you ever feel surprised why India is OUTSOURCING capital of world?? Well if the answer is YES then here is another proof of why outsourcing things to INDIA can be so much COST EFFECTIVE to the world(especially USA).

We have heard a lot about US Economy Bailout Packages. So back with bang here comes Indian version of Economic Bailout .Whatever the US government is doing with $800 billion with an anticipation of a 4 to 5 year time frame we Indians can do just in Rs. 150 crores (or $30 million being specific) within 2 year time frame.

So world keep on outsourcing to us!!!

Nifty Levels- 26 Nov 2008

2008-11-26T19:51:00.014+05:30

From today i am starting a series of regular posts about technical levels of NIFTY Futures to be used for short/medium term NIFTY FUTURE players. For making things short & sweet lets go directly on the expected levels for nifty in short term.

As of today, on 26 Nov 2008 Nifty futures managed to cross 2763 which completes the 50% fibonacci retracement from the levels of 2228 and 3299 and closed near to it so next target should be 2840/2885/2945 in short/medium term.

Micro Technologies launches Micro SAMS

2008-10-01T18:50:00.000+05:30

Mumbai-based Micro Technology Ltd. launched unique software in the city today. The Micro Students Attendance Management System, (SAMS) is an automated system for access, attendance and effective communication

TCS wins WS Journal Global Innovation Technology Award

2008-09-30T14:57:00.000+05:30

Tata consutancy services a leading global IT services and business solutions firm today announced that the world’s leading business publication, has selected TCS’ mKrishi service as the winner of its 2008 Technology Innovation Award in the wireless technology category. The award recognizes companies, individuals and organizations world-wide for technological breakthroughs in such areas as medicine, the Internet, wireless and consumer electronics.

Lehman Brothers bankruptcy impact on Indian IT market

2008-09-30T14:41:00.000+05:30

With Lehman Brothers filing for bankruptcy and Bank of America taking over Merrill Lynch; the key question would be - do these companies have significant exposure to the Banking, Financial Services and Insurance (BFSI) space and what would be the impact?

Lehman Brothers, which has filed for bankruptcy, seems to have very little outsourcing done as of now and the exposure remains with Wipro and Tata Consultancy (TCS). Wipro has given a statement that Lehman Brothers is not such a significant client and they are not worried about it. TCS may not see much of the impact.

But one needs to watch out for what happens with Merrill Lynch because Merrill Lynch was a significant client for both Satyam and TCS. The one which is going to suffer from Merrill Lynch’s takeover is going to be Satyam because it was a significant top client for them. Where TCS gains over Satyam is it has in relationship with the acquiring company Bank of America, which gets more outsourced work.Infosys and Bank of America have a very steady relationship. So Infosys maybe one of the gainers.

You Can buying and selling of dematerialised securities

2008-09-12T14:26:00.000+05:30

You Can buying and selling of dematerialised securities

a. selling dematerialized securities

b. purchase dematerialized securities.

selling dematerialized securities

The procedure for selling dematerialized securities is very simple. Procedure for selling securities is given here below:

You sell securities in any of the stock exchanges through a broker;
You give instruction to your DP to debit your account and credit the broker's (clearing member) account before the deadline time specified by your DP;
Before the pay-in day, your broker gives instruction to its DP for delivery to clearing corporation;
Your broker receives payment from the stock exchange (clearing corporation);
You receive payment from the broker for the sale of securities.

purchase dematerialized securities.
For receiving demat securities you may give a one-time standing instruction to your DP. Procedure for buying securities is given here below:

You purchase securities through a broker;
You make payment to your broker who arranges payment to clearing corporation on the pay-in day;
Your broker receives credit of securities in its clearing account (clearing member account) on the pay-out day;
Your broker gives instructions to its DP to debit its clearing member account and credit your account;
You receive shares into your account. However, if standing instructions are not given at the time of opening the account, you will have to give 'Receipt Instructions' to your DP for receiving credit.

Stock Markets?

2008-09-12T14:22:00.000+05:30

A stock market is a market for the trading of company stock/ shares, and derivatives. Market is a place where buyers and sellers of securities can enter into transactions to purchase and sell shares, bonds, debentures etc. It also enables corporates, entrepreneurs to raise resources for their companies and business ventures through public issues.

Primary Stock markets:
The primary market is that part of the capital markets that deals with the issuance of new securities. Companies, governments or public sector institutions can obtain funding through the sale of a new stock or bond issue. This is typically done through a syndicate of securities dealers. In the case of a new stock issue, this sale is an initial public offering (IPO)

b. Secondary Stock markets:
The secondary market is the financial market for trading of securities that have already been issued in an initial private or public offering. The secondary market is where you can purchase securities from the seller as opposed to the issuer of such a security.

What is a stock exchange?

2008-09-12T14:07:00.000+05:30

A stock exchange, share market is a corporation or mutual organization which provides facilities for stock brokers and traders, to trade company stocks and other securities .The securities traded on a stock exchange include: shares issued by companies, unit trusts and and bonds.

There are two type of stock exchange

:-Bombay Stock Exchange Limited or BSE

:-National Stock Exchange or NSE

what are sensex and nifty

The Sensex is an "index". What is an index? An index is basically an indicator. It gives you a general idea about whether most of the stocks have gone up or most of the stocks have gone down.

The Sensex is an indicator of all the major companies of the BSE.

The Nifty is an indicator of all the major companies of the NSE.

If the Sensex goes up, it means that the prices of the stocks of most of the major companies on the BSE have gone up. If the Sensex goes down, this tells you that the stock price of most of the major stocks on the BSE have gone down.

Just like the Sensex represents the top stocks of the BSE, the Nifty represents the top stocks of the NSE.

Just in case you are confused, the BSE, is the Bombay Stock Exchange and the NSE is the National Stock Exchange. The BSE is situated at Bombay and the NSE is situated at Delhi. These are the major stock exchanges in the country. There are other stock exchanges like the Calcutta Stock Exchange etc. but they are not as popular as the BSE and the NSE.Most of the stock trading in the country is done though the BSE & the NSE.

Tips for Avoiding investment Scams, from the Internet Fraud Watch

2008-09-12T13:34:00.000+05:30

· Don’t believe claims that there is no risk. There is always risk in investments, and no one but a con artist will tell you otherwise. Know the risk before you invest.

· Beware of promises that you’ll make big profits fast. No one can accurately predict how an investment will do. Often the investments that promise the most pay-off are also the most risky.

· Get the details in writing. Legitimate companies will be happy to give you all the information you need.

· Don’t agree to anything on the spot. Pressure to act immediately is a danger sign of fraud.

· Understand your investments. Do you know the difference between stocks and bonds, margin accounts and cash accounts, options and futures, mutual funds and certificates of deposit? If not, do your homework before you invest.

· Don’t act on testimonials from strangers. Someone who appears to want to share a friendly tip about a great investment opportunity may actually be a con artist trying to lure you into an investment scam.

· Be especially wary of investments in commodities. Crooks often promise that the value of investments in coins, precious metals, artwork, oil leases, gemstones, and other commodities will rise. The truth is that the value of these types of investments can go up or down significantly.

· Steer clear of “offshore investments.” These are often promoted as a way to avoid taxes. Actually, you are still liable for taxes, and the investments themselves are usually very risky.

· Be cautious about emails for investments. Many unsolicited emails are fraudulent.

· Take the time to check out investment offers. A good place to start is with your state securities regulator. Other resources for information to help you make wise investment decisions include: the federal Securities and Exchange

HCL Technologies to acquire Control Point Solutions

2008-08-26T13:35:00.001+05:30

HCL Technologies Ltd. (HCL), India’s leading global IT services provider, today announced signing of an agreement to fully acquire Control Point Solutions, Inc., the leading provider of voice, data and wireless Telecommunications Expense Management (TEM) services. Privately held, Control Point Solutions (CPS) leads the TEM market with robust platforms catering to both enterprises and carriers across industry verticals. As part of the transaction, HCL will acquire four delivery centres in US with over 200 professionals who come to HCL with domain knowledge and technical expertise. Control Point Solutions is being acquired at an enterprise valuation of USD 20.8 million. This valuation is on cash free and debt free basis.

This acquisition strengthens HCL’s unique advantage of providing multi-service delivery platforms for our customer with CPS’ TEM expertise complementing HCL’s remote infrastructure service offering. Control Point Solutions is a market leader in the highly fragmented TEM industry with its internally developed robust platforms. Control Point Solutions’ technology has been a key differentiator that has demonstrated capability to support both the Enterprise and Carrier segments. Control Point Solutions customers include Fortune 500 organizations across a broad variety of industries. For nearly two decades, Control Point Solutions has managed the entire telecom expense life cycle for clients, providing industry-leading solutions for their voice, data and wireless requirements.

NIIT is a ‘Superbrand’

2008-08-26T13:31:00.000+05:30

For the second time, NIIT, the Global Talent Development Corporation has been accorded Superbrand status. At a recently concluded award ceremony held in the Capital, NIIT has been adjudged as a Business Superbrand 2008, commanding consumer respect, loyalty and trust by the Superbrands Council, from amongst consumer brands across categories.

The prestigious Superbrand status is internationally known as the ‘Oscars in the world of branding’. NIIT will be listed in Superbrands India’s very second edition of the book ‘Superbrands,’ a chronicle of India’s strongest brands. The prestigious award was received by Mr. P Rajendran, Chief Operating Officer, NIIT. Mr. P. Rajendran, Chief Operating Officer, NIIT, said, ”Being conferred the coveted Superbrand status for the second time, is a reiteration of the faith placed in us by our stakeholders. Having pioneered IT training in India, NIIT is now poised to emerge as a leading Global Talent Development Corporation.”

This is not the first time that the strength of NIIT brand has been recognized. NIIT was recently honoured with the Digital Opportunity Award at World Congress on IT held in Kuala Lumpur, for its pathbreaking Hole-in-the-Wall Education Initiative. Also at the recently concluded 2008 International Business Awards, NIIT won an International Stevie Award for the Most Innovative Company in Asia (Subcontinent, Australia and New Zealand). UN World Body UNESCO also presented NIIT with a Commendation Certificate for its innovative science station.

Cummins India wins CII?s National Award

2008-08-26T13:29:00.000+05:30

The Power Generation Business Unit of Cummins India Limited has won the Confederation of Indian Industry (CII) National Award for Excellence in Energy Management in the category of “Innovative Energy Saving Product / Service” for the third successive year. The award has been conferred upon Cummins for its unique “Power Quality & Adequacy Analysis” service designed to ascertain source and load compatibility. This award was conferred during the “National Award for Excellence in Energy Management” function held in Pune on August 23, 2008.

Cummins has been the recipient of this prestigious award twice in the same coveted category for the last two years. In 2007, the Company received the Award for its Producer Gas Genset, while the Real Time Power Factor Control (RTPFC) system won the Company the CII Award in 2006.

resource :- www.nseguide.com

Bajaj Hindusthan Ltd

2008-08-11T12:46:00.000+05:30

Source: BSE - Bajaj Hindusthan Ltd has announced the following Unaudited results for the quarter ended June 30, 2008: The Company has posted a net loss of Rs 354.10 million for the quarter ended June 30, 2008 as compared to net loss of Rs 604.70 million for the quarter ended June 30, 2007. Total Income has decreased from Rs 4940.80 million for the quarter ended June 30, 2007 to Rs 4731.40 million for the quarter ended June 30, 2008.

Buy Recommendation - Torrent Power

2008-08-04T11:00:00.000+05:30

Keep buying on Torrent Power with a target price of Rs 146 . The company has posted excellent results for the quarter ended June 2008. The net sales for Q1FY09 stood at Rs 11133.50 million against Rs 8978.70 million in Q1FY08 depicting a growth of 24 %. The expenditures have grown at 20.95% clearly depicting the strength of the company. EBITDA for Q1FY09 stood at Rs 1412.30 million, showing a sharp surge of over 50 % from the previous year’s levels.

Buy Recommendation

2008-07-14T11:02:00.000+05:30

keep buying on Infosys Technologies as a market performer with a one-year target price of Rs 1690. Excluding the tax reversals (Rs 310 million in Q1 FY09 and Rs 200 million in Q4 FY08), net profit grew by 3.4% qoq. Company reported lower than expected forex loss of Rs 800 million. Further, tax provision excluding any reversal was lower at 10.7% in Q1 FY09 compared to 15.6% in Q4 FY08.

Buy Recommendation

2008-07-12T14:03:00.000+05:30

keep buying on Bajaj Auto. Bajaj Auto’s 1QFY09 standalone numbers were below our estimates at EBIDTA (by10%) and Net profits (by 8%) level. There are no comparable numbers on YoY basis onaccount of demerger. We attribute the variation to (1) higher pressure on the rawmaterial front. Raw material as a % of sales was at 75.5% against our expectation of 73.3%. (2) Higher effective tax rate 33% against our expectation of 29%. The keyreasons for the deviation vis a vis our estimates are that we had factored in higherprofitability of Pantnagar plant, resulting in lower RM to sales ratio and also lowereffective tax rate on the assumption of direct tax benefits from its Pantnagar plant.Adjusting for the higher tax rate the net profits would have been Rs 1.85, against ourexpectation of 1.9 bn.

Buy Recommendation

2008-06-25T15:46:00.000+05:30

Keep buying on Mahindra and Mahindra with a target price of Rs 800. According to media reports, Mahindra and Mahindra (M&M) will be selling a 10% stake in its used car business, Mahindra First Choice (MFC), to PHI Advisors for about Rs 80 crore. The company's management, in a media interview, has said that it plans to infuse Rs 20 crore via rights issue and Rs 60 crore via a stake sale into MFC. In case there is a 10% stake sale for Rs 80 crore, MFC's enterprise value would rise to Rs 800 crore.

INFLATION HITS 13-YEAR HIGH

2008-06-20T12:02:00.000+05:30

India's inflation, based on the wholesale price index (WPI), soared to 11.05% for the week ended June 7 versus 8.75% in the preceding week.

This is the highest level of inflation in India in the last 13 years.

Buy Recommendation

2008-06-20T10:24:00.000+05:30

Keep buying on Ranbaxy Laboratories with a target price of Rs 585.Ranbaxy has entered into agreements with Pfizer Inc to settle patent litigation worldwide involving Lipitor in US ( USD 8 billion) and 7 other countries (USD 2.5 billion). The settlement also involves Caduet USD 400 million (combination of Atorvastatin and Amlodipine).

Nuclear Deal - problem for congress

2008-06-19T18:07:00.000+05:30

RJD chief Lalu Prasad and DMK supremo M. Karunanidhi express their support to the Prime Minister. CPI (M) leader Sitaram Yechury says Left may withdraw support

Even as the Left parties threatened to pull the rug from under it's feet, the Congress on Thursday received backing from two of its key allies over the civilian nuclear deal with the United States.

Advice and Suggestion for Investors - II

2008-06-19T16:25:00.000+05:30

The market is expected to move down again, so one should select fundamentally sound stocks and buy them in a staggered way at every fall, says market expert, Ashok Ajmera, on Zee Business. Also, invest for the long term to gain more, he suggests.

The market seems ranged for now, but much of the froth is out. Going forward, one should not expect any surprises in Q1 numbers. The MF house is underweight on real estate, pharma and FMCG.

HDFC Mutual Fund advises retail investors to invest at every dip in the market. The MF house expects superior returns in 15-18 months from the Indian markets. Indian markets are getting closer to fair value now.

The market is expected to move down again, so one should select fundamentally sound stocks and buy them in a staggered way at every fall. Also, invest for the long term to gain more.

Any good moves in the oil marketing companies should be used to book profits. Their gains may not be sustainable.

Buy Recommendation

2008-06-19T11:35:00.000+05:30

Keep buying on Gujarat Mineral Development Corporation with a target price of Rs 443.Being the leading lignite merchant in the country, the company already stands in a pioneer position in the sky rocketing coal prices regime. With the allotment of coal blocks in Chattisgarh and Orissa, the company shall be able to feed 4750 MW power and if negotiations with PIPDC prove fruitful, the company will also be able to gener-ate maximum benefit from the block through its expertise.

Also, the company’s diversification into cement, power, SEZ and port arena is expected to increase future earnings visibility by securing captive coal customers through the proposed JVs. The stock at the current market price of Rs 304 trades at 18.31 times to its earning per share of Rs 16.60 and 4.55 times to its book – value of Rs 66.77. The stock looks attractive at the current valuation with the strong upside potential in the long term investment horizon.

Market View - Small Bull Run Can Start

2008-06-18T10:14:00.000+05:30

The bulls may have regained some lost ground with bears covering their shorts in the last couple of days. Global markets too have big held up quite well and oil prices have retreated a bit. Lack of fresh bad news coupled with buying by local institutions have kept the bears on the defensive in the last two days. FIIs turned net buyers in the cash segment yesterday. However, it remains to be seen whether the current momentum can be sustained, as the bulls still lack conviction.

Mutual funds may be sitting on a huge pile of cash, but the market needs FIIs to turn net buyers in a big way. In short the FIIs have to light the fuse to ignite positive action in the Indian bourses. Plus, the macro and micro environments have to change drastically. The flow of bad news has to slow down. All this will take a while to materialise. As a result, the market will remain largely rangebound and choppy with alternate bouts of buying and selling. It’s a no brainer that this outlook is subject to global market conditions and improvement in local fundamentals.

Today, we expect another cautious to slightly positive start, as the US indices fell overnight but most Asian markets are on a firm ground. The overall trend could slightly favour the bulls purely due to the current momentum though there may be some cooling at higher levels.

Results Today: Aurobindo Pharma, Dish TV, Era Infra, Finolex Industries, Greenply, Hotel Leela, Indraprastha Gas, Kei Industries, Marg, Mascon Global, Power Grid Corp., PNB and Rajesh Exports.

FIIs were net buyers of Rs1.4bn (provisional) in the cash segment on Tuesday while the local institutions poured in Rs4.2bn. In the F&O segment, foreign funds were net buyers of Rs9.51bn. On Monday, FIIs were net sellers of Rs5.33bn in the cash segment. With this, they have pulled out over $5.5bn from the Indian market this year.

Resources - Indiainfoline News Services

Buy Recommendation

2008-06-17T12:19:00.000+05:30

Keep buying on Bharti Airtel with a target price of Rs 1035. The company is a market leader with a market share of all India wireless subscribers at 23.8% as at FY08 end (22.4% last year). The enterprise services division provides carrier (long distance services) and other services to corporate clients. Bharti has completed acquisition of a 100% stake in the i2i cable system connecting India to Singapore for USD 110 million. It has also won the license to offer 2G and 3G services as the fifth mobile operator in Sri Lanka. This is in line with its corporate strategy of expanding operations in high growth emerging markets.

Tata Steel forms JV with Jasper Industries

2008-06-16T17:17:00.000+05:30

Tata Steel said on Monday that its wholly owned subsidiary, Rawmet Ferrous Industries Ltd. has entered into a share subscription agreement and shareholders' agreement with Jasper Industries.

The three companies will build a coal-based power plant of 2 x 67.5 MW capacity at Anantpur Village, Cuttack, Orissa, subject to the fulfillment of certain conditions.

Pursuant to the shareholders' agreement, Tata Steel and Rawmet together will hold 26% and Jasper Industries will hold 74% stake in Bhubaneshwar Power Pvt Ltd (the JV company).

Resources - Indiainfoline Ltd

Buy Recommendation

2008-06-16T14:24:00.000+05:30

Keep buying on GAIL India with a target price of Rs 485.With robust growth in gas transmission business, we expect GAIL to witness revenue CAGR of 25.1% during FY08-10E. The only concern is a margin decline on account of petrochemical business and subsidy burden.the stock is attractively valued at FY10E P/E (adjusted for value of listed investments) of 8.1x.In the near term, likelihood of a bonus issue could provide momentum to the stock.

Buy Recommendation - Jyoti Structures

2008-06-16T10:37:00.000+05:30

Keep buying on Jyoti Structures with target price of Rs 200.The company has posted compounded annual growth rate of 46.08% in top line and 84.50% in bottom line in last three years and is expected to maintain its growth in coming years. The company is a leading player in the domestic power transmission EPC segment and has executed transmission line projects in around 30 countries. Capability of constructing substations gives JSL the distinction of being a total turnkey EPC contactor for power transmission lines, differentiating it from other major players in the industry. Opportunities in the form of increased government thrust on improving the transmission and distribution infrastructure of the country is expected to drive the future growth of the company. The stock at the current market price of Rs 121.90 is trading 13.67 times to its earnings of Rs 8.92 and 2.90 times to its book value of Rs 42.03. We initiate a ‘BUY’ signal on the stock at the current levels with a target of Rs 200 in the medium to long-term investment horizon with an appreciation of 64%.

Inflation hits 7-year peak

2008-06-13T13:31:00.001+05:30

The Government's worst fear of a double-digit inflation may soon come true, as inflation has climbed to its highest level in seven years and may jump to a double-digit mark on the back of the recent hike in fuel prices.

Inflation, based on the wholesale price index (WPI), rose to 8.75% in the week ended May 31 from 7.24% in the previous week, the Commerce & Industry Ministry said in a statement. The reading is much higher than average forecast of 8.25-8.35%.

Inflation is now at the highest level since February 10, 2001 when it was 8.77

Buy Recommendation - Tata Sponge

2008-06-13T12:31:00.001+05:30

Keep buying on Tata Sponge Iron with a target price of Rs 294.The sponge iron scenario looks quite lucrative relying on the ever increasing demand for steel and higher impetus to the infrastructural de-velopment by the government. The company has been working on its expansion plans and is well placed in Orissa with access to all the raw materials required. With an expectation of continuance of the price robustness witnessed in sponge iron in the last 12 months, the company shall be able to couple higher realizations along with higher sales.

The stock at the current market price of Rs 245 will trade 3.95 times to its earning per share of Rs 62.03 and will trade 1.49 times to its book – value of Rs 164.87. The stock looks attractive at the current valuation with the strong upside potential in the medium term investment horizon.

Buy Recommendation - Reliance Industries

2008-06-12T13:26:00.000+05:30

Keep buying on Reliance Industries for target Rs.3200. they are increasing our FY09 and FY10 crude price and exchange-rate estimates as well as building-in lower refining and petrochemical margins for Reliance Industries (RIL). They are also factoring-in an expected delay in commencement of production from the KG D6 block and operations of the Reliance Petroleum (RPL) refinery commencing September ’08. Recent Government decision to keep private companies out of the purview of subsidy sharing is positive. However,
value of RIL’s extant petrochemical and refining business at Rs 1381 per share, retail at Rs 140 per share, E&P at Rs 1,168 per share and RIL’s stake in RPL at Rs 343 per share.

Market View 12/06/2008

2008-06-12T09:51:00.001+05:30

Market open in red but after 1-2 hours it may be turn into green. All asian and US market in red. there is a curcial level at 4435. Market will go up side only if level 4435 are maintained. reality stocks and power stocks are in good and fare price.
One can keep buying on these sector.

Buy Recommendation - Indraprastha Gas

2008-06-11T10:23:00.001+05:30

Keep buying on Indraprastha Gas with a target price of Rs 135.The revenue growth of 14.6% YoY (QoQ growth of 3.0%) to Rs 1,882 million. expectaion of CNG sales volume growth of 13.0% YoY, which is likely to be the main growth driver as it accounts for around 90% of total sales. Overall, the net profit is expected to increase by 16.7% YoY to Rs 467 million translating in to EPS of Rs 3.3 during the quarter.

Some Corporate News

2008-06-10T13:49:00.000+05:30

Rashtriya Chemicals & Fertilizers (RCF), the country’s largest fertiliser maker, is looking to diversify into logistics related businesses.

Automotive engineering major Renold Plc today said it is in talks with Indian firm LG Balakrishnan & Bros for acquiring 75 per cent stake in its industrial chain
business for an undisclosed amount.

Sadbhav Engineering, a construction firm, on Monday said it will acquire 74 per cent stake in Hong Kong based Ocean Bright Corporation for an undisclosed amount.

Pharmaceutical firm Zydus Cadila on Monday said it will acquire 70% stake in South Africa-based generic firm Simayla Pharmaceuticals for an undisclosed amount.

The Aditya Vikram Birla group-controlled Idea Cellular is set to acquire BK Modi's 40.8% stake in Spice Communications for around Rs 2,200 crore.