Monday, June 29, 2009

Markets trade in green

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.

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Thursday, June 25, 2009

Market growth positive, BSE up 155pts

BSE up
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.

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Monday, June 22, 2009

Sensex finished in red

Sensex Down
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.

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Friday, June 19, 2009

Fiat Grande Punto launched

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.

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Thursday, June 18, 2009

BSE up 53 pts, NSE down 15 pts

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.

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Monday, June 15, 2009

Market volatile, Sensex slipped 284pts

Sensex Down
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.

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Thursday, June 11, 2009

Sensex plunges in negative zone (for Stock review blog)

Sensex plunges in negative zone
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.

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Monday, June 8, 2009

Sensex slips 90pts

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%.

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Thursday, June 4, 2009

Sensex jumps into positive zone, up 82 pts

Bombay Stock ExchageMUMBAI: 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.

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Monday, June 1, 2009

Sensex gains 215 points at 14,840.63

Bombay Stock Exchange
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.

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