Archive for April, 2008
Mumbai (PTI): The Indian rupee on Friday ended flat at 39.95/96 against a US dollar after showing signs of strengthening on dollar selling by exporters.
The rupee moved in a relatively small range of 39.91 and 39.98 during the day after resuming higher at 39.91/92 a dollar from its previous close of 39.94/95 a dollar.
Forex dealers said rising inflation rate failed to spark a surge in rupee as traders seemed discouraged by possibility of central bank intervention to keep the local currency above 39.90 level.
Meanwhile, inflation soared to 40-month high of 7.41 per cent raising possibility of stringent monetary measures in the quarterly review of the Reserve Bank of India (RBI).
Analysts said high inflation could help rupee to appreciate as a robust rupee would help contain inflation.
Indian benchmark Sensex ended up 113 points, or 0.72 per cent, while Asian indices gained about 1.0 to 2.5 per cent.
The capital inflows, a key driver of the rupee, are likely to pick up if net purchases by Foreign Institutional investors in the last four days is any indication, commented a dealer with bank.
source:http://www.hindu.com/thehindu/holnus/006200804112023.htm
April 11th, 2008
Thanks to sustained buying in oil, capital goods, power, IT and metal stocks, the Sensex shot up to 15,953.54 a little while ago. However, due to a mild bout of correction at higher levels, the barometer has now slipped to 15,835.83.
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Still, at its current level, the Sensex remains in the positive zone with a gain of 45.32 points. The Nifty, which hit a high of 4799.50, has eased to 4770.05, trimming down its gain to 0.48% or 23 points.
Mirroring the sharp gains posted by key oil stocks, the BSE Oil & Gas index has surged 3.3% now. The Capital Goods index has gained 2.1%. The Power, PSU and IT indices are up by 1.75%, 1.55% and 1.5% respectively. BSE Metal has gained a little over a per cent.
Capital goods majors Larsen & Toubro and BHEL have gained 2.85% and 1.4% respectively. Areva has gained over 5.5%. Thermax is up by 4.55% at Rs 491.50. ABB, Alstom Projects, Bharat Earth Movers, Elecon Engineering, Kirloskar Brothers, Praj Industries, Punjab Lloyd and Siemens have gained 1% - 4% now.
Among IT majors, Tata Consultancy Services is up by 3.6% at Rs 908. Satyam Computer Services has gained 1.2%. Infosys Technologies is up with a modest gain of 0.5% while Wipro, which has eased on selling pressure, is down with a small loss.
Tech Mahindra, i-Flex Solutions, Aptech, Karuturi Network, Mphasis and Educomp Solutions have posted sharp gains. HCL Technologies is up by around half a per cent at Rs 240.10.
Reliance Industries (up 4.05% to Rs 2515) has contributed significantly to the market’s sharp rise this afternoon. Cairn India has notched up a gain of 5.5%. Essar Oil, BPCL, Reliance Petroleum and Reliance Natural Resources are up by 2.5% - 5%.
Meanwhile, power stock Reliance Energy has jumped to Rs 1273, netting a gain of over 8%. Ambuja Cements, Mahindra & Mahindra and Hindalco have also posted strong
source:http://sify.com/finance/livemarkets/index.php?id=14644433
April 10th, 2008
Quite a number of midcap and smallcap stocks have moved up sharply on sustained buying enquiries today. Mirroring investor interest for these stocks, the BSE Midcap and Smallcap barometers have surged 1% and 1.61% respectively over their previous closing levels now.
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Healthcare stock Sun Pharma Advanced Research (up 10% at Rs 101.35) is the biggest gainer in the Midcap index. Bhushan Steel and Engineers India have gained 6.65% and 6.1% respectively. National Fertilizers and Nav Bharat Ventures have moved up by over 5%.
Reliance Industrial Infrastructure, State Trading Corporation, Gulf Oil Corporation, Rashtriya Chemicals & Fertlizers, Coromandel Fertilizers, SREI Infrastructure, CESC, Asian Star, Punjab Tractors, Dredging Corporation and Tanla Solutions have gained 4% - 5%. Mahindra Lifespace, Gujarat Petronet, Birla Corporation and Rajesh Exports have also risen sharply on strong buying support.
Among smallcap stocks, Logix Micro (up 14.65% at Rs 162.15) is the biggest gainer. Nucleus Software has vaulted 13.2% to Rs 228.90. Helios & Matheson is up by around 12.75% at Rs 65.10. Banco Products has gained 10.25% at Rs 34.50.
BAG Films, Genus Power, Natco Pharma, Tata Coffee, Electrosteel Castings, Cambridge Solutions, Aftek, Gemini Communications, Hindustan Oil Exploration, Champagne Industries, HEG, Fedders Lloyd, Ador Welding, Blue Bird and Arshiya International are up 5% - 10% over their previous closing levels.
Reliance Energy (up 5.3% at Rs 1239) remains the top gainer from the Sensex. Tata Consultancy Services has gained 3.25%. Mahindra & Mahindra is up by 2.15% at Rs 621.
Ambuja Cements, Larsen & Toubro, Satyam Computer Services, Hindalco, Tata Motors, Maruti Suzuki, Wipro and Grasim Industries are up with sharp to moderate gains. State Bank of India and ITC are up with marginal gains.
At 15,818.13, the Sensex is up with a marginal gain of 27.82 points or 0.18% at present. The Nifty has posted a gain of 21.25 points or 0.45% at 4768.30.
Jaiprakash Industries and Bharti Airtel are down by over 2% now. ICICI Bank, HDFC Bank, Ranbaxy Laboratories and NTPC are down by 1% - 2%. Hindustan Unilever, Cipla, DLF, Reliance Communications, ACC, Tata Steel, HDFC and Infosys Technologies also trade weak.
source:http://sify.com/finance/livemarkets/index.php?id=14644393
April 10th, 2008
The Sensex, which slipped into the red a little before noon due to a fairly strong round of selling in a few front line stocks, has emerged into the positive territory again thanks to resumption of buying.
• Stock tips for investors: Click here
Oil stocks, led by sector heavyweight Reliance Industries, continue to trade firm. PSU and consumer durables stocks are among the other prominent gainers. Select power, auto and information technology stocks have also bounced back from their lower levels.
Pharma, metal, realty, FMCG and bank stocks remain a bit subdued. Buying remains fairly widespread in midcap and smallcap segments. The market breadth is very strong with gainers outscoring losers by an impressive margin. Out of a total of 2499 stocks seen in action on BSE, as many as 1728 stocks are up in the positive territory. 678 stocks have posted losses and 83 stocks trade flat.
At 15,822.69, the Sensex is up by around 0.2% or 32.18 points over its previous closing mark. The Nifty has gained 0.51% or 24.05 points at 4771.10.
Power stock Reliance Energy rules firm with a handsome gain of 5.15% at Rs 1237.30. CESC has gained a little over 4.5% at Rs 430. Areva is up by 4.1% at Rs 1479.95.
GVK Power, Crompton Greaves, ABB, Tata Power, Siemens, Torrent Power and Power Grid have also recorded sharp gains. BHEL and GMR Infrastructure are up with modest gains at Rs 1787.20 and Rs 142.70 respectively.
Reliance Industries (1.5%), Cairn India (5%), Reliance Petroleum (4.3%), Essar Oil (3.25%), BPCL (3.15%), RNRL (2.65%), Aban Offshore (1.5%), GAIL India (1%) and Hindustan Petroleum Corporation (0.95%) are the major gainers in the oil space. ONGC is up with a modest gain at Rs 1016.50.
source:http://sify.com/finance/livemarkets/index.php?id=14644349
April 10th, 2008
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