Posts filed under 'Sensex'
NDTV Correspondent
Thursday, December 13, 2007 (Mumbai):
Markets closed weak on Thursday with the Bombay Stock Exchange benchmark index Sensex slipping into red by 1.33 per cent or 271 points. The sensitive index touched a new high of 20,498 before closing the trading day at 20,104.
In the broader markets Nifty also scaled a new high of 6,185 levels before profit booking dragged the broader index into the negative territory. The 50-share index closed the trading day at 6,058 with a loss of 1.64 per cent or 101 points.
However action was visible in small and mid cap counters with BSE Small Cap index holding up in green by 1.03 per cent or 122 points. Selling was visible in oil & gas and banking counters.
“At this levels, tomorrow if the markets slips below two day average then we might see some more correction, 19,900 levels for the Sensex and 5,950 levels for the Nifty might turn out to be very strong support levels,” Shrikant Chouhan, Technical Analyst at Kotak Securities said.
“IT is a sectoral game basically; what I feel is that till now realty, power and some other stocks had only run up. I think that this is the right level to buy IT stocks. Last week they had a strong momentum followed by some correction yesterday,” said Jignesh Desai, Head (Institutional Sales), SBI Caps Securities.
Bharti Airtel at Rs 987 led the showdown in the BSE-30 pack. The stock lost 6.2 per cent or Rs 65 in a day of volatile trade. ICICI Bank, Maruti Suzuki, Satyam Computers, ONGC and BHEL are some of the key losers in the Sensex; they shed over 2.1 per cent each.
Among the NSE-50 scrips, Sun Pharma, Tata Power, HCL Technologies, Gail India, Ambuja Cements and Zee Entertainment were some of the top losers, they lost over three per cent each.
Oil & gas slips
BSE Oil & Gas index lost 2.17 per cent or 284 points was the biggest loser among the sectoral indices. BSE BANKEX, IT and Capital Goods indices also lost over 1.21 per cent each.
Gail India (down 3.9 per cent), Mangalore Refinery and Petrochemicals (down 2.9 per cent), BPCL (down 2.5 per cent), RNRL (down 2.5 per cent), ONGC (down 2.2 per cent) and Reliance Industries (down 1.8 per cent) were some of the top losers in oil & gas space.
Profit booking also emerged in banking counters with Andhra Bank, Centurion Bank of Punjab, State Bank of India, OBC and HDFC Bank and Yes Bank losing over 1.2 per cent each.
Information technology counters continued to face selling pressure with HCL Technologies (down 3.2 per cent), Aptech (down 2.9 per cent), Mphasis (down 2.6 per cent), Satyam Computers (down 2.3 per cent) and Moser Baer (down 1.9 per cent) losing ground.
Selective capital goods counters closed on negative territory with Jyoti Structures, Thermax, BEML, Suzlon Energy, BHEL, Alstom Projects, Crompton Greaves, Larsen & Toubro losing over 1.1 per cent each
Source: http://www.ndtvprofit.com/
December 14th, 2007
The benchmark Sensex plunged by over 271 points on the Bombay Stock Exchange on Thursday on profit selling at existing higher levels.
The 30-share BSE barometer, after beginning the day on a promising note, fell back to close at 20,104.39, lower by 271.48 points, as stocks in oil and gas, capital goods and banking segments declined sharply.
The key-index rose to the day’s high of 20,498.11 and a low of 20,065.63 points.
The National Stock Exchange index Nifty also dipped by 101.20 points to 6,058.10, after touching the day’s high of 6,185.40 and a low of 6,040.40 points.
Trading sentiments were partly influenced by reports of weak trend in Asian stock markets, traders said.
European and Asian stock markets were down after the Wall Street ended higher, following major central banks seeking to soothe the global credit squeeze, they added.
Source: http://www.hindustantimes.com/
December 14th, 2007
Indian stocks bucked a global sell-off, which saw Asian stocks falling to their biggest loss in three weeks, after investors judged that the domestic economy may be decoupled from a recession in the United States.
This assessment was strengthened by the Index of Industrial Production (IIP) figures – released midway through the markets – showing that the industrial production grew to a seven-month high in October.
Tracking Asian markets, the benchmark Bombay Stock Exchange’s Sensex fell by over 200 points immediately on opening in the absence of any positive surprises in the US Federal Reserve’s small 25 basis point interest rate cut on Tuesday.
But stocks recovered soon enough to end the day in positive territory. Sensex ended at 20,375.87 points, up 84.98 points, or 0.42 per cent.
The broad based S&P CNX Nifty of NSE ended at 6159.30 points, up 62.05 points or 1.02 per cent. Key global indices Dow Jones Industrial Average (down 294.26 points or 2.14 per cent), S&P 500 (down 38.31 points or 2.53 per cent), Hang Seng (down 705.78 points or 2.41 per cent) and Straits Times (down 39.78 points or 1.11 per cent) were in the red.
Barring the benchmarks in India, the only other Asian index that was in green was the Seoul Composite (up 2.38 points or 0.12 per cent).
“The markets recovered after the first half an hour showing some strength. Positive IIP data boosted market sentiment as there was some buying,” said S Krishna Kumar, fund manager and head-research, Sundaram BNP Paribas MF.
Source: http://www.business-standard.com/common/storypage.php?autono=307333&leftnm=0&subLeft=0&chkFlg=
December 13th, 2007
The Bombay Stock Exchange benchmark Sensex fell by 246 points in early trade on Wednesday on emergence of profit-selling at existing higher levels of blue chip stocks, triggered by weak global trend.
The 30-share index, Sensex, which closed above the 20,000 points level for the first time on Tuesday, failed to sustain the momentum and dipped by 245.47 points to 20,045.42 in the first five minutes of trade.
Heavy-weight stocks like Reliance capital, SBI, Punjab National Bank, Infosys technology lost substantial ground, on the back of profit-selling by investors at the existing levels.
Similarly, the wide-based National Stock Exchange index, Nifty, also lost 91.80 points to touch 6,005.45 points.
Stock traders said trading sentiment turned weak following reports of a steep fall in the Asian and US stock markets.
Source: http://www.hindustantimes.com/StoryPage/StoryPage.aspx?id=af1f98fe-0bb0-4db4-85e3-da56b157edc5&MatchID1=4575&TeamID1=8&TeamID2=2&MatchType1=1&SeriesID1=1147&PrimaryID=4575&Headline=Sensex+sheds+246+points+in+early+trade
December 13th, 2007
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