Thursday, May 28, 2009

Sensex opened on positive note

Bombay Stock ExchangeMUMBAI: 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%.

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Monday, May 25, 2009

Sensex remain volatile, ends up 12.14 pts

Mumbai Stock ExchangeMUMBAI: 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.

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Thursday, May 21, 2009

Sensex down 135 pts

Bombay Stock ExchangeMUMBAI: 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.

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Monday, May 18, 2009

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

Bombay Stock ExchageMUMBAI: 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.

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Thursday, May 14, 2009

Sensex tumbles 106 pts at 11k

Bombay Stock ExchangeMUMBAI: 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.

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Maruti dips 2 per cent despite new launch

Maruti RitzMaruti 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.

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Monday, May 11, 2009

Sensex slips into negative zone

Bombay Stock ExchangeMUMBAI: 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.

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Saturday, May 9, 2009

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

Bombay Stock ExchangeMUMBAI: 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.

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Sensex past 12K level after seven month

Bombay Stock ExchangeMUMBAI: 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.

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Friday, May 8, 2009

Sensex volatile in early trade

Bombay Stock Exchange
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.

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Thursday, May 7, 2009

Mixed up & down, Sensex up 137 pts

bombay-stock-exchangeMUMBAI: 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.

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Wednesday, May 6, 2009

Sensex falls in early trade

bombay-stock-exchangeMUMBAI: 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.

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Monday, May 4, 2009

Sensex at a seven month high, crosses 12 k

Bombay Stock ExchangeMUMBAI: 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.

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Saturday, May 2, 2009

Ranbaxy recalls Nitrofurantoin Capsules from US

Ranbaxy Laboratories
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.

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