praveen
11-03-2008, 04:49 PM
Local markets managed to post decent gains in choppy trade boosted by steady buying demand for index pivotals and short covering at lower level after the recent fall. Firm global markets also lifted the sentiment. The total turnover on BSE crossed Rs 7000 core. It had opened lower tracking weak US markets. European markets extended early gains. Asian markets also reversed early losses to post gains.
17 shares from the 30-member Sensex pack advanced. The market breadth was strong after initial weakness.
The 30-share BSE Sensex was up 169.39 points or 1.06% at 16,093.10, as per provisional closing. It opened slightly lower at 15,778.27 and slipped further to touch a low of 15,739.05 in early trade. At the day’s low, the Sensex lost 184.67 points. It gained 244.41 points at day’s high of 16,168.13 hit in early afternoon trade.
The broader based S&P CNX Nifty was up 53.85 points or 1.11% at 4,853.65.
The market breadth was strong: On BSE 2,070 shares advanced as compared to 634 that declined. 37 shares remained unchanged.
The BSE Mid-Cap index rose 3.26% to 6,988.31and the BSE Small-Cap index gained 3.75% to 8,557.72 as per provisional closing. Both these indices outperformed the Sensex.
The total turnover amounted to Rs 7253 crore as compared to Rs 6263 crore at 15:30 IST on BSE. The total turnover was Rs 6896 crore yesterday, 10 March 2008.
Shares from real estate sector surged on fresh buying. India’s largest real estate developer DLF surged 10.53% to Rs 752 on 10.58 lakh shares. It was the top gainer from Sensex pack.
Other gainers from real estate sector were HDIL (up 6.70% to Rs 681), Indiabulls Real Estate (up 6.57% to Rs 516.50) and Unitech (up 3.81% to Rs 283.30), edged higher.
Heavyweights from capital goods sector staged a smart comeback after sell-off on previous day. India’s largest private sector engineering & construction company in terms of order book galloped 6.90% to Rs 2916.50. The stock had plunged 8.57% to Rs 2732 on concerns of losses from commodity hedging for the fiscal year ending March 2008.
India’s largest engineering & construction company in terms of order book, Bharat Heavy Electricals gained 4.74% to Rs 2001, after hitting low of Rs 1880. The stock lost 6.20% to Rs 1900 yesterday.
India’s second largest two wheeler maker by sales Bajaj Auto eased from day’s high of Rs 2140. It settled 4.80% higher at Rs 2078. The stock surged ahead of record date of 25 March 2008 for effecting the scheme of arrangement.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries advanced 3.16% to Rs 2345.05 on 9.05 lakh shares. The stock recovered sharply after hitting low of Rs 2215.15 in early trade
ACC (up 5.56% to Rs 809), NPTC (up 4.26% to Rs 193.25), and Ranbaxy Laboratories (up 4.73% to Rs 453.90), were the other gainers from Sensex pack.
India’s top small car maker in terms of sales, Maruti Suzuki India lost 3.65% to Rs 860.90 on 2.53 lakh shares. It was the top loser from the Sensex pack
IT pivotals were subdued. Satyam Computer Services (down 2.94% to Rs 396), TCS (down 1.16% to Rs 822), and Wipro (down 2.96% to Rs 390.10), also declined
HDFC (down 2.52% to Rs 2505), and Cipla (down 2.91% to Rs 195.05), were the other losers from Sensex pack.
The next trigger for the market would come from the figures of advance tax payment by corporates for the fourth installment, which falls due on 15 March 2008.
All eyes will now be the US Federal Reserve which meets on 18 March 2008 to review interest rates. A cut in interest rate, as expected by street may provide some support to the markets. Fed Chairman Ben Bernanke had signaled a readiness to cut interest rates again to prevent further damage to the weak US economy, even as he took note of rising inflation risks.
European markets logged gains. Key benchmark indices from United Kingdom (up 1.06% to 5,688.602), Germany (up 0.42% to 6,475.30) and France (up 0.55% to 4,592.04), advanced
Asian markets reversed early losses to post gains today, 11 March 2008. Japan's Nikkei (up 1.01% at 12,658.28), Taiwan's Taiwan Weighted (up 0.99% at 8,381.60), South Korea's Seoul Composite (up 1% at 1,641.48), Hong Kong's Hang Seng (up 1.28% at 22,995.35), Straits Times (up 0.86% at 2,860.68) and Shanghai Composite (up 0.47% to 4,165.78) advanced
US markets slumped for the third straight day on Monday, 10 March 2008 led by a plunge in financial shares as a fresh wave of credit worries rattled the market. Bear Stearns tumbled amid news that the brokerage firm has liquidity problems. The Dow Jones industrial average plunged 153.54 points, or 1.29%. The Standard & Poor's 500 index was down 20 points or 1.55%, to 1,273.37, while the Nasdaq Composite index declined 43.15 points, or 1.95%, to 2,169.34.
As per provisional data, foreign institutional investors (FIIs) sold shares worth Rs 1248.04 crore on Monday, 10 March 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 758.79 crore on that day.
FIIs were net sellers of Rs 1,003.16 crore in the futures & options segment on Monday, 10 March 2008. They were net sellers of index futures to the tune of Rs 626.53 crore and sold index options worth Rs 140.74 crore. They were net sellers of stock futures to the tune of Rs 225.28 crore and sold stock options worth Rs 10.62 crore.
Crude oil was slightly lower today, 11 March 2008, just below its record high of $108.21 yesterday, 10 March 2008, as investors hedged against growing inflation and the falling dollar. U.S. light crude for April delivery fell 5 cents to $107.85 a barrel, a barrel in the previous session. London Brent crude was down 11 cents to $104.05.
17 shares from the 30-member Sensex pack advanced. The market breadth was strong after initial weakness.
The 30-share BSE Sensex was up 169.39 points or 1.06% at 16,093.10, as per provisional closing. It opened slightly lower at 15,778.27 and slipped further to touch a low of 15,739.05 in early trade. At the day’s low, the Sensex lost 184.67 points. It gained 244.41 points at day’s high of 16,168.13 hit in early afternoon trade.
The broader based S&P CNX Nifty was up 53.85 points or 1.11% at 4,853.65.
The market breadth was strong: On BSE 2,070 shares advanced as compared to 634 that declined. 37 shares remained unchanged.
The BSE Mid-Cap index rose 3.26% to 6,988.31and the BSE Small-Cap index gained 3.75% to 8,557.72 as per provisional closing. Both these indices outperformed the Sensex.
The total turnover amounted to Rs 7253 crore as compared to Rs 6263 crore at 15:30 IST on BSE. The total turnover was Rs 6896 crore yesterday, 10 March 2008.
Shares from real estate sector surged on fresh buying. India’s largest real estate developer DLF surged 10.53% to Rs 752 on 10.58 lakh shares. It was the top gainer from Sensex pack.
Other gainers from real estate sector were HDIL (up 6.70% to Rs 681), Indiabulls Real Estate (up 6.57% to Rs 516.50) and Unitech (up 3.81% to Rs 283.30), edged higher.
Heavyweights from capital goods sector staged a smart comeback after sell-off on previous day. India’s largest private sector engineering & construction company in terms of order book galloped 6.90% to Rs 2916.50. The stock had plunged 8.57% to Rs 2732 on concerns of losses from commodity hedging for the fiscal year ending March 2008.
India’s largest engineering & construction company in terms of order book, Bharat Heavy Electricals gained 4.74% to Rs 2001, after hitting low of Rs 1880. The stock lost 6.20% to Rs 1900 yesterday.
India’s second largest two wheeler maker by sales Bajaj Auto eased from day’s high of Rs 2140. It settled 4.80% higher at Rs 2078. The stock surged ahead of record date of 25 March 2008 for effecting the scheme of arrangement.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries advanced 3.16% to Rs 2345.05 on 9.05 lakh shares. The stock recovered sharply after hitting low of Rs 2215.15 in early trade
ACC (up 5.56% to Rs 809), NPTC (up 4.26% to Rs 193.25), and Ranbaxy Laboratories (up 4.73% to Rs 453.90), were the other gainers from Sensex pack.
India’s top small car maker in terms of sales, Maruti Suzuki India lost 3.65% to Rs 860.90 on 2.53 lakh shares. It was the top loser from the Sensex pack
IT pivotals were subdued. Satyam Computer Services (down 2.94% to Rs 396), TCS (down 1.16% to Rs 822), and Wipro (down 2.96% to Rs 390.10), also declined
HDFC (down 2.52% to Rs 2505), and Cipla (down 2.91% to Rs 195.05), were the other losers from Sensex pack.
The next trigger for the market would come from the figures of advance tax payment by corporates for the fourth installment, which falls due on 15 March 2008.
All eyes will now be the US Federal Reserve which meets on 18 March 2008 to review interest rates. A cut in interest rate, as expected by street may provide some support to the markets. Fed Chairman Ben Bernanke had signaled a readiness to cut interest rates again to prevent further damage to the weak US economy, even as he took note of rising inflation risks.
European markets logged gains. Key benchmark indices from United Kingdom (up 1.06% to 5,688.602), Germany (up 0.42% to 6,475.30) and France (up 0.55% to 4,592.04), advanced
Asian markets reversed early losses to post gains today, 11 March 2008. Japan's Nikkei (up 1.01% at 12,658.28), Taiwan's Taiwan Weighted (up 0.99% at 8,381.60), South Korea's Seoul Composite (up 1% at 1,641.48), Hong Kong's Hang Seng (up 1.28% at 22,995.35), Straits Times (up 0.86% at 2,860.68) and Shanghai Composite (up 0.47% to 4,165.78) advanced
US markets slumped for the third straight day on Monday, 10 March 2008 led by a plunge in financial shares as a fresh wave of credit worries rattled the market. Bear Stearns tumbled amid news that the brokerage firm has liquidity problems. The Dow Jones industrial average plunged 153.54 points, or 1.29%. The Standard & Poor's 500 index was down 20 points or 1.55%, to 1,273.37, while the Nasdaq Composite index declined 43.15 points, or 1.95%, to 2,169.34.
As per provisional data, foreign institutional investors (FIIs) sold shares worth Rs 1248.04 crore on Monday, 10 March 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 758.79 crore on that day.
FIIs were net sellers of Rs 1,003.16 crore in the futures & options segment on Monday, 10 March 2008. They were net sellers of index futures to the tune of Rs 626.53 crore and sold index options worth Rs 140.74 crore. They were net sellers of stock futures to the tune of Rs 225.28 crore and sold stock options worth Rs 10.62 crore.
Crude oil was slightly lower today, 11 March 2008, just below its record high of $108.21 yesterday, 10 March 2008, as investors hedged against growing inflation and the falling dollar. U.S. light crude for April delivery fell 5 cents to $107.85 a barrel, a barrel in the previous session. London Brent crude was down 11 cents to $104.05.