Tuesday, July 28, 2009

Market watch: Little effect of monetary policy review

BSE Down

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.

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Tuesday, July 21, 2009

Meter down: Markets struggling to B+


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.

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Thursday, July 9, 2009

Sensex returns to negative zone

Sensex returns to negative zone
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.

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Monday, July 6, 2009

Budget effect: Sensex hits 15K mark

Sensex hits 15K mark
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.

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Thursday, July 2, 2009

Sensex surged after eco survey tabled, again into red

Bombay Stock Exchange
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.

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