Sensex ends up 360pts, DLF zooms 7%...

The Sensex opened with a positive gap of 133 points at 19,136. Volatility in early trades saw the index pare gains and drop to a low of 19,007. The index, thereafter, moved up as the day progressed.

The Sensex rallied to a high of 19,425 - up 422 points from the previous close - before finishing with a smart gain of 360 points at 19,363.

The market breadth was fairly positive - out of 2,860 stocks traded, 1,747 advanced, 1,050 declined and 63 were unchanged today.

INDEX MOVERS

DLF zoomed 7% to Rs 944. Reliance Energy soared 4.5% to Rs 1,738.

TCS surged 3.8% to Rs 1,014. HDFC and Satyam rallied around 3.5% each to Rs 2,784 and Rs 440, respectively.

Tata Steel gained 3% at Rs 826. Bharti Airtel, Grasim and ONGC moved up 2.6% each to Rs 939, Rs 3,793 and Rs 1,171, respectively.

HDFC Bank and Hindalco advanced around 2.4% each to Rs 1,719 and Rs 185, respectively.

Maruti, Infosys, Wipro, Ranbaxy and NTPC were up over 2% each today.

VALUE & VOLUME TOPPERS

Reliance Petroleum topped the value chart with a turnover of Rs 567.70 crore followed by Essar Oil (Rs 491 crore), Reliance Natural Resources (Rs 459 crore), Mundra Port (Rs 283 crore) and Reliance Energy (Rs 218 crore).

Ispat Industries led the volume chart with trades of around 3.40 crore shares followed by Reliance Natural Resources (2.81 crore), Reliance Petroleum (2.59 crore), Essar Oil (2.09 crore) and IFCI (1.84 crore).

Foreign institutional investors (FIIs) were net buyers of Rs 1,072.07 crore (provisional) today, November 30th, according to data released by BSE...

Foreign institutional investors (FIIs) were net buyers of Rs 1,072.07 crore (provisional) today, November 30th, in the cash market, according to data released by BSE.

While FIIs made gross purchases of Rs 7,242.97 crore, gross sales totalled Rs 6,170.90 crore.

Domestic institutional investors (DIIs) were net buyers of Rs 688.34 crore today. While DIIs made gross purchases of Rs 1,948.94 crore, gross sales totalled Rs 1,260.60 crore.

FIIs were net sellers of Rs 977.60 crore on Thursday, November 29, according to data released by Sebi today. While FIIs made gross purchases of Rs 5,311.40 crore, gross sales totalled Rs 6,289 crore.

Major gainers and major losers on November 30th...

Sintex to raise up to $300mn

Sintex Industries, a plastics and textiles major, today informed the BSE that it will raise upto $300 million by way of FCCBs/GDRs/ADRs/QIP.

The company has aggressively followed an inorganic growth strategy with its latest acquisition being France’s Nief Plastic, a leader in plastic injection mouldings and thermosets, in a cash deal worth $55 million for 100% equity

November 30th stock movement:

LAST 458.70 INR; CHANGE TODAY -3.80 (-0.82%); VOLUME 33.3K

How BSE indices closed on November 30th...

Sensex ends up 64pts; Bajaj Auto drops 5%, HDFC Bank zooms over 4%...

The Sensex opened with a bang - up 352 points (1.8%) at 19,291 backed by the strong rally in the global markets. The index touched a high of 19,297, pared some gains and thereafter exhibited lacklustre movement for the major part of the trading day.

Fresh selling in noon deals, on account of the derivatives expiry of the November series, saw the index drop to a low of 18,930 - down 361 points from the day's high. The Sensex finally ended with a gain of 64 points at 19,003.

The market breadth turned negative towards the close - out of 2,857 stocks traded, 1,461 declined, 1,323 advanced and 73 were unchanged today.

INDEX MOVERS....

HDFC Bank zoomed over 4% to Rs 1,677, and ICICI Bank gained over 3% to Rs 1,162.

Maruti rallied 2.5% to Rs 990, and Mahindra & Mahindra moved up 1.5% to Rs 720.

Reliance and Bharti Airtel were up around 1% each at Rs 2,818 and Rs 918, respectively.

...AND LOSERS

Bajaj Auto slumped nearly 5% to Rs 2,600.

Ranbaxy plunged 2.7% to Rs 379, and Reliance Energy shed 2.4% at Rs 1,664.

Tata Steel and Reliance Communications dropped around 2% each to Rs 802, Rs 665, respectively.

VALUE & VOLUME TOPPERS

Reliance Petroleum topped the value chart with a turnover of Rs 1,136.40 crore followed by Mundra Port (Rs 371 crore), Reliance Natural Resources (Rs 202.25 crore), Jaiprakash Associates (Rs 186.15 crore) and Reliance Energy (Rs 186.10 crore).

Reliance Petroleum led the volume chart with trades of around 5.56 crore shares followed by Gujarat Petronet (2.43 crore), Ispat Industries (2.11 crore), Reliance Natural Resources (1.31 crore) and Tata Teleservices (1.19 crore).

Major gainers and major losers on November 29th...

Chevron Eyes Sale Of RPL Stake...

Chevron Corp. is looking at all options for its stake in Reliance Petroleum Ltd.(RPL), a company spokeswoman said on November 27. According to a report in the Business Standard, Chevron may look at selling its 5% stake to Reliance Industries Ltd. Chevron, which has an option to raise its stake to 29%, may not do so after RPL’s share price more than tripled this year, the un-sourced report said. “Chevron continues to evaluate our options with our ownership in Reliance Petroleum,” spokeswoman Nicole Hodgson said in an e-mailed reply. “We will provide specific project updates when definitive decisions are made.”

The scrip rose almost 12% today...

How BSE indices closed on November 29th...

How BSE indices closed on November 26th...

The subprime mortgage crisis is poised to get much worse...

Source:


The subprime mortgage crisis is poised to get much worse.

Next year, interest rates are set to rise -- or "reset" -- on $362 billion worth of adjustable-rate subprime mortgages, according to data calculated by Bank of America Corp.

While many accounts portray resetting rates as the big factor behind the surge in home-loan defaults and foreclosures this year, that isn't quite the case. Many of the subprime mortgages that have driven up the default rate went bad in their first year or so, well before their interest rate had a chance to go higher. Some of these mortgages went to speculators who planned to flip their houses, others to borrowers who had stretched too far to make their payments, and still others had some element of fraud.

Now the real crest of the reset wave is coming, and that promises more pain for borrowers, lenders and Wall Street. Already, many subprime lenders, who focused on people with poor credit, have gone bust. Big banks and investors who made subprime loans or bought securities backed by them are reporting billions of dollars in losses.

The reset peak will likely add to political pressure to help borrowers who can't afford to pay the higher interest rates. The housing slowdown is emerging as an issue in both the presidential and congressional races for 2008, and the Bush administration is pushing lenders to loosen terms and keep people from losing their homes.

The number of borrowers facing higher payments isn't growing merely because the amount of loans with resets is higher. Another factor is that those with a looming reset now have a tougher time sidestepping it by refinancing or selling their home. "There is a large amount of borrowers who are in products that either no longer exist or that they no longer qualify for," says Banc of America Securities analyst Robert Lacoursiere.

Falling home prices mean that many borrowers have little or no equity in their home, making it tougher for them to get out from under their loans.

A Post-Thanksgiving Rally In US Markets On November 23rd...

Source:


US stock investors went bargain-hunting on Friday, November 23rd, as consumers sought holiday deals in stores.

Each of the three major indexes added more than 1%. The Dow Jones Industrial Average gained 181.14, or 1.4%, to 12980.88. The Nasdaq Composite Index added 34.45, or 1.3, to 2596.60, and the S&P 500 advanced 23.93, or 1.7%, to 1440.70.

"This is a reflex rally from an oversold position," said Greg Church, president of Church Capital Management. "There's no volume today, so you can't gauge anything. [But] if, next week, the cavalry comes in -- the Fed, or an investment vehicle…or the mortgage insurers, this market could rally a lot."

U.S. stocks tumbled on Wednesday, November 21st, and yields on 10-year Treasury notes fell to two-year lows. Worries about bad home loans, a slumping dollar and oil near $100 a barrel combined to knock stocks, particularly in the financial sector.

The Thanksgiving holiday on Thursday, November 22nd, kept markets shut, and trading closed Friday, November 23rd, at 1 p.m. EST. Bond markets closed at 2 p.m.

Crude-oil futures prices surged to a new record of more than $98 a barrel in shortened trading on the New York Mercantile Exchange.

PVR vaults by 9% (on November 23rd) on investment reports

PVR Limited, the Delhi-based movie multiplex chain, vaulted to a high of Rs 232 a share, on November 23rd. on reports that it is planning to invest Rs 300-400 crore to set up 250 new screens across 30 cities in the country in three years.

The company would fund the expansion through a mix of equity, debt and internal accruals. The scrip closed the day at Rs 218.40, up 9.83 per cent from Thursday's (November 22nd) closing price.

Over 4 lakh shares changed hands at the Bombay Stock Exchange. On Thursday, November 22nd PVR launched its premium brand of multiplex, PVR Premiere.

DCM Shriram surges ahead (on November 23rd) on takeover tussle

DCM Shriram Industries jumped to Rs 88.05, up 4.95 per cent on reports that the promoters have hiked the price to Rs 90 for allotment of warrants to themselves to prevent a hostile takeover attempt by Harish Bhasin-promoted HB Stockholdings.

The Delhi-based brokerage had announced the open offer to acquire 35 lakh shares, equivalent to a 22.8 per cent stake, at Rs 70 a share and challenged the move by the promoters to allot themselves seven lakh warrants. Each warrant would carry a right to subscribe to three equity shares.

FIIs net sellers of Rs 542cr in cash market on November 23rd...

Foreign institutional investors (FIIs) were net sellers of Rs 541.88 crore on Friday, November 23rd, according to data released by BSE.

While FIIs made gross purchases of Rs 2,271.55 crore, gross sales totalled Rs 2,813.43 crore.

Domestic institutional investors (DIIs) were net buyers of Rs 525.86 crore on November 23rd. While DIIs made gross purchases of Rs 1,274.19 crore, gross sales totalled Rs 748.33 crore.

Major gainers and major losers on November 23rd...

Friday, November 23rd: Sensex ends up 327pts; REL, DLF zoom...

Following the aggressive short-covering of Thursday, November 22nd, the Sensex, on November 23rd, opened with a positive gap of 211 points at 18,737. The index moved in a range of 362 points - touched a high of 18,910, and a low of 18,548 - during the day.

The Sensex finally ended with a gain of 327 points at 18,853. In the process, the index reversed its six-day downtrend wherein it had shed 7% (1,403 points).

The BSE Metal and Realty indices surged 3.5% each to 16,594 and 9,783, respectively. The Oil & Gas index gained 2.5% at 11,987.

The market breadth was fairly positive - out of 2,842 stocks traded, 1,760 advanced, 1,034 declined and 48 were unchanged.

INDEX MOVERS...

Reliance Energy zoomed 7.5% to Rs 1,725. DLF soared 5.5% to Rs 869.

HDFC, Larsen & Toubro and NTPC surged 4% each to Rs 2,666, Rs 4,100 and Rs 237, respectively.

Tata Motors rallied 3.3% to Rs 715. Reliance gained 3% at Rs 2,811.

Bajaj Auto and BHEL advanced 2.5% each to Rs 2,533 and Rs 2,543, respectively.

Hindustan Unilever and Infosys moved up nearly 2% each to Rs 206 and Rs 1,558, respectively.

Reliance Communications, ICICI Bank and TCS were up over 1% each at Rs 682, Rs 1,140 and Rs 960, respectively.

...AND THE LAGGARDS

Maruti and HDFC Bank dropped 2% each to Rs 947 and Rs 1,563, respectively.

Cipla shed 1% at Rs 181.

VALUE & VOLUME TOPPERS

Reliance Petroleum topped the value chart with a turnover of Rs 367.30 crore followed by Reliance Energy (Rs 291.30 crore), Reliance Natural Resources (Rs 252.75 crore), Reliance (Rs 232.70 crore) and Reliance Capital (Rs 202.80 crore).

Allied Computers led the volume chart with trades of around 2.74 crore shares followed by Tata Teleservices (2.52 crore), Reliance Petroleum (1.75 crore), Reliance Natural Resources (1.63 crore) and Ispat Industries (1.12 crore).

How BSE indices closed on November 23rd...

Major gainers and major losers on November 22nd...

Markets on Nov. 22nd: Volatile Sensex slips 76pts; SBI soars 4%...

The Sensex opened with a positive gap of 121 points at 18,724, and after touching day's high of 18,745, the index soon slipped into red. The index, thereafter, exhibited highly volatile movement wherein it gyrated between zones and tumbled to a low of 18,183 - down 562 points from the day's high.

Aggressive short covering in the last half-hour saw the Sensex rebound and gain nearly 100 points. The index finally ended with a loss of 76 points at 18,526.

The BSE Realty index plunged 5% to 9457, and the Power index tumbled over 2% to 4151. The Bankex moved up 1.8% to 10,406.

The market breadth was extremely negative - out of 2,816 stocks traded, 1,959 declined, 811 advanced and 46 were unchanged today.

INDEX MOVERS...

SBI zoomed 4% to Rs 2,242. Maruti surged 3% to Rs 980.

ACC, ICICI Bank and Bajaj Auto rallied over 2% each to Rs 1,103, Rs 1,127 and Rs 2,473, respectively.

Hindalco, Cipla and Bharti Airtel advanced 1% each to Rs 186, Rs 183 and Rs 907, respectively.

...AND THE SHAKERS

DLF plunged 5.5% to Rs 823.

Reliance Energy and NTPC tumbled 5% each to Rs 1,605 and Rs 228, respectively.

Larsen & Toubro dropped 4% to Rs 3,942, and ONGC shed 3.6% at Rs 1,150.

Ranbaxy and HDFC slipped 1.5% each to Rs 393 and Rs 2,561, respectively.

Infosys and Reliance Communications were down over 1% each at Rs 1,532 and Rs 674, respectively.

VALUE & VOLUME TOPPERS

Reliance Petroleum topped the value chart with a turnover of Rs 504.20 crore followed by Reliance Natural Resources (Rs 311.55 crore), Reliance (Rs 288.70 crore), Reliance Capital (Rs 283 crore) and Larsen & Toubro (Rs 238.80 crore).

Reliance Petroleum led the volume chart with trades of around 2.46 crore shares followed by Reliance Natural Resources (2.16 crore), Ispat Industries (1.73 crore), Tata Teleservices (1.64 crore) and IFCI (1.23 crore).

How BSE indices closed on November 22nd...

In spite of today's crash...India world's best performing stock market

India has emerged as the world's best performing stock market in the past three months, notwithstanding the five-day plunge that has wiped off close to 85 billion dollars of investors' wealth from the bourses.

The country's benchmark Sensex has lost over 1,300 points in five trading sessions pulling down the total market capitalisation of all the listed firms from about USD 1,650 billion to USD 1,565 billion during the same period.

However, an analysis of three-month US dollar return data available with the global market intelligence service provider MSCI Barra for equity markets across the world shows that Indian bourses have delivered the highest gain of 33.64 per cent during this period, thus adding over USD 400 billion to the investors' kitty.

The developed markets like the US, Japan, Austria, Sweden and Belgium have given negative returns in this period, while UK managed a modest return of 0.6 per cent.

The best performing developed markets has been Spain (18 per cent) and Hong Kong (17 per cent). But, their returns is just about half of the same on Indian bourses since August 21.

Worldwide, India is followed by Qatar, UAE and Egypt with a gain of about 28 per cent each. Among emerging markets, India is followed by Brazil with 31 per cent return, while Chinese stocks have managed to give about 17 per cent returns. But, there are others as well like Taiwan, Sri Lanka, Chile, Mexico and Venezuela who have registered a fall during this period.

Since the beginning of this month, however, just a handful of markets have managed to register a positive return. Spain is the only developed market to have seen a modest gain in November (0.6 per cent), while Morocco, Egypt, Colombia and Jordan are the only emerging markets posting positive returns.

News Snapshots...

# Sensex ends down 678pts; NTPC plunges 8%


# Yahoo! Mail now also for visually impaired


# GSPL to invest Rs 2,500cr in laying pipelines


# Core, ILFS, IGNOU in deal for learning centres


# No consensus between mobile firms, DoT


# Hotmail co-founder Sabeer Bhatia's InstaColl launches online Office Suite


# FIIs net sellers of Rs 2,008cr in cash market


# STC, Nafed and Spice Board form SPV


# Crude oil hits $99.29/barrel


# Ranbaxy gets Canada's nod for TH drug


# Sebi plans to introduce realty investment trusts

FIIs net sellers of Rs 2,008cr in cash market on Nov. 21st...

Foreign institutional investors (FIIs) were net sellers of Rs 2,007.70 crore (provisional) today, according to data released by BSE.

While FIIs made gross purchases of Rs 3,208.09 crore, gross sales totalled Rs 5,215.79 crore.

Domestic institutional investors (DIIs) were net buyers of Rs 630.06 crore today. While DIIs made gross purchases of Rs 1,600.51 crore, gross sales totalled Rs 970.45 crore.

FIIs were net sellers of Rs 1,072.10 crore on Tuesday, November 20, according to data released by Sebi today. While FIIs made gross purchases of Rs 4,816.70 crore, gross sales totalled Rs 5,888.80 crore.

Mutual funds (MFs) were net buyers of Rs 138.40 crore on Tuesday. MFs made purchases of Rs 1,004.30 crore and sales of Rs 865.90 crore.

Carnage on Nov. 21st: Sensex ends down 678 points; NTPC plunges 8%, BHEL and ITC slump 6%...third biggest single day loss in history for the sensex

Mirroring weakness in other Asian markets, the Sensex opened with a negative gap of 83 points at 19,198. The index after slipping a bit more tried to recover but could only manage to touch a high of 19,219.

Relentless selling, thereafter, saw the index slip deeper into red as the day progressed. The index tumbled to a low of 18,515 - down 766 points from the previous close. The Sensex finally ended with a loss of 678 points at 18,603 - third biggest single-day loss in absolute terms in history.

The BSE Metal and Power indices plunged 6% each to 16,254. and 4246, respectively. The Bankex and Realty indices dropped 5% each to 10,228 and 9954, respectively.

The market breadth was very negative - out of 2,854 stocks traded, 2,201 declined, 629 advanced and 24 were unchanged today.

INDEX DRAGGERS...

NTPC tumbled 8% to Rs 240. BHEL slumped 6.3% to Rs 2,486, and ITC plunged 6% to Rs 185.

Maruti tumbled nearly 6% to Rs 951. Reliance Energy, ICICI Bank and SBI shed 5.5% each at Rs 1,693, Rs 1,103 and Rs 2,155, respectively.

Larsen & Toubro and Hindalco dropped over 5% each to Rs 4,109 and Rs 185, respectively. Tata Steel plunged 4.4% to Rs 822.

DLF and Reliance Communications slipped around 4% each to Rs 871 and Rs 682, respectively.

Grasim and Ranbaxy declined 3.7% each to Rs 3,625 and Rs 399, respectively.

Mahindra & Mahindra, Tata Motors and HDFC Bank were down 3% each at Rs 707, Rs 687 and Rs 1,583, respectively.

VALUE & VOLUME TOPPERS

Debutant Religare topped the value chart with a turnover of Rs 602 crore followed by Reliance Petroleum (Rs 382 crore), Reliance Natural Resources (Rs 267 crore), Reliance (Rs 262 crore) and Reliance Capital (Rs 197 crore).

Tata Teleservices led the volume chart with trades of around 2.13 crore shares followed by Reliance Petroleum (1.84 crore), IFCI (1.77 crore), Reliance Natural Resources (1.71 crore) and Bellary Steel (1.46 crore).

Major gainers and major losers on November 21st...

How BSE indices closed on November 21st...

How BSE indices closed on November 20th...

How BSE indices closed on November 19th...

Mortgage problem may cut lending by $2 trillion: Goldman Sachs

The impact of the U.S. mortgage market crisis on the underlying economy could be "dramatic" as leveraged investors may need to scale back lending by up to USD 2 trillion, according to investment bank Goldman Sachs.

Chief U.S. economist Jan Hatzius said a "back-of-the-envelope" estimate of credit losses on outstanding mortgages, based on past default experience, was around USD 400 billion.

But unlike stock market losses, which are typically absorbed by "long-only" investors, this mortgage-related hit is mostly borne by leveraged investors such as banks, broker-dealers, hedge funds and government-sponsored enterprises.

And leveraged investors react to losses by actively cutting back lending to keep capital ratios from falling -- A bank targeting a constant capital ratio of 10 percent, for example, would need to shrink its balance by USD 10 for every USD 1 in losses.

"The macroeconomic consequences could be quite dramatic," Hatzius said in the note to clients. "If leveraged investors see USD 200 billion of the USD 400 billion aggregate credit loss, they might need to scale back their lending by USD 2 trillion."

"This is a large shock," he said, adding the number equates to 7 percent of total debt owed by U.S. non-financial sectors.

"It's basically another downside risk to the macroeconomy at a time when the macroeconomy already isn't doing that well," Hatzius told CNBC.


He said such a shock could produce a "substantial recession" if it occurred over one year, or a long period of sluggish growth if it occurred over two-to-four years.

Hatzius underscored the macroeconomic nature of the shock in his interview with CNBC.

"I don't think there's a direct stock market implication from this, perhaps with the exception that it does point to a slow-growth environment, significant risk of recession, and that's probably in an envrionment in which the cyclical sectors are going to underperform."

One of a number of caveats outlined in the report was that baseline economic forecasts may already include significant reductions in the pace of mortgage lending.

But the conclusion remained a gloomy one regardless. "The likely mortgage credit losses pose a significantly bigger macroeconomic risk than generally recognized," he wrote.

"While the uncertainty is large, the associated downward pressure on lending raises the risk of significant weakness in economic activity."

Markets end flat amid volatility; midcap, smallcap outperform...

The markets opened with gap down today on weak global cues and proceeded to trade weak for most part of the day amid volatility and ended in red. The frontline indices remained flat but the broader markets was strong on sustained buying interest. Midcaps and smallcaps once again outperformed the frontliners.

Indian markets continue to show resilience and outperformed the Asian peers who closed with deep cuts. Hang Seng ended down over 4%. compared to Asian peers. Asia traded with deep cuts with Hang Seng down 4% followed by Nikkei down 2%.

The Sensex ended down 86.53 points or 0.44% at 19698.36, and the Nifty down 5.25 points or 0.09% at 5906.85. On BSE about 2018 shares advanced, 988 shares declined, and 59 shares are unchanged.

BSE Auto index ended up 34.75 or 0.66% at 5284.01. Escorts, Hind Motors and TVS Motors were top gainers. BSE Bankex closed down 49.97 or 0.45% at 11003.05. ICICI bank, HDFC bank and bank of India were the top losers.

BSE Cap good index ended down 262.16 points or 1.25% at 20643.71. Lakshmi machine, Kirloskar Brother and L&T werte the top losers. BSE FMCG index was up 4.31% at 2230.69. In the FMCG space, ITC, Tata Tea and Dabur india were the top gainers.

BSE pharma index ended down 20.04 points or 0.51% at 3885.03. In the healthcare sector, top gainers were Dishman Pharma, Orchid Chemicals and Dr Reddy's lab. BSE IT index was down 37.37 points or 0.89% at 4159.12. In the Tech space, Infosys, HCL and Tech mahindra were top losers.

BSE metal index was down 241.69 points or 1.36% at 17498.20. Hindalco, nalco and Tata Steel were top losers. BSE oil & gas index ended up 163.68 points or 1.33% at 12479.56. Essar Oil ,HPCL and IOC were top gainers. BSE realty index ended down 1.58 points or 0.02% at 10521.84.


Markets today:

Another day of outperformance of Indian markets vis-à-vis Asian peers
Sensex down 87 pts at 19698; recovers 225 pts from days low
Nifty ends flat at 5906; recovers 90 pts from day low
BSE FMCG Index up 4.3% led by ITC which is up 8.2%; HUL up 1.1%
Refineries and OMCs continue to dominate the market
BSE Oil & Gas Index up 1.3%; HPCL up 5.6%, BPCL up 1.8%, IOC up 3.9%
CNX Midcap Index up 1.2%, BSE Small-cap up 1.5%
Essar Steel and Essar Shipping see a huge crack in afternoon trade
Management to offer only the discovered price for delisting; Lose more than 20% from day’s highs
BSE Metals Index down 1.4%; Hindalco down 5.3%, Nalco down 4.3%
Fertilizer stocks buzz; Chambal Fer up 29%, Nagarjuna Fer up 15%, Deepak Fertilizers, FACT, NFL up 10%
Tea stocks buzz; McLeod Russel up 19%, Jay Shree up 17%, Assam Co up 5%, Tata Tea up 4.4%
Non-Index gainers: Essar Oil up 21% Vs 27% yesterday, 9 cr shares change hands
NSE Advance Decline at 2:1
Total market turnover at Rs 89,336 cr Vs Rs 96,165 cr yesterday
FNO turnover at Rs 61,505 cr Vs 65,894 cr yesterday
F&O snapshot:

Nifty futures add 13 lakh shares; primarily intraday trade
Some of the stocks witness action in last hour of trade eg Chambal Fert, Escorts
Chambal Fertilizer surges in last hours; adds 41.8 lakh shares ; Up 35%
FMCG emerges as strongest sector of the day: ITC: Up 8.4%; Adds 37.7 lakh shares

Maximum Turnover:

Essar Oil: 3630 cr
MRPL: 2678 cr
RIL: 2449 cr
Nagarjuna Fert: 1960 cr

Star performers:

Hinduja TMT: Up 27%; Adds 1 lakh shares
Essar Oil: Up 22%; Adds 90.8 lakh shares; strong CoC seen
Chambal Fert: Up 34%; Adds 41.8 lakh shares
Hotel Leela: Up 14%; Adds 49.7 lakh shares
Nagarjuna Fert: Up 14.4%; Adds 20 lakh shares
Ballarpur Ind: Up 14%; Adds 11.4 lakh shares
Escorts: Up 22%; Adds 16.6 lakh shares; Strong CoC seen

Turnover Today:

NSE Cash - Rs 18978.78 cr
NSE F&O - Rs 61505.32 cr
BSE cash - Rs 8852.16 cr
Total - Rs 89336.26 cr

How BSE indices closed on November 16th...

Godrej Consumer shoots up smartly

At 12:53 pm, Godrej Consumer Products was quoting at Rs 133.35 on the BSE, up Rs 11.25, or 9.21%. It had touched an intraday high of Rs 135.80 and an intraday low of Rs 122.

It was trading with volumes of 106,045 shares, compared to its five-day average of 18,007 shares, an increase of 488.92%.

Yesterday the share closed down at Rs 122.10.

This move in the stock follows announcement that Godrej Consumer Board will meet on November 23 to discuss rights issue...

News Snapshots...

# BIGGEST-EVER RALLY: Sensex zooms 894pts


# IDBI to raise $1.5 bn via debt


# Sebi board nod for new derivative products


# Satyam unveils web-based services for SMEs


# MindTree Consulting acquires Purple Vision


# Tech Mahindra plans Rs 200cr Chandigarh centre


# GSM firms add 57 lakh users in Oct


# LG posts 51% jump in festive season sales


# Number portability could increase margins: Mittal


# Pune-based Goel Ganga plans two townships


# NIIT ties up with US firm for math labs


# MS launches prepaid edition of Office Pro 2007

Biggest single day gains of the Sensex...

BIGGEST-EVER RALLY: Sensex zooms 894pts...

The Sensex opened with a positive gap of 302 points at 19,337 on the back of smart gains in the global markets. Unabated buying in the market saw the index rally to higher levels as the day progressed.

The Sensex touched a high of 19,988, and finally settled with a huge gain of 894 points (4.7%) at 19,929 - the biggest-ever single-day gain in absolute terms for the index. Adding to the 300-point gain yesterday, the index has nearly regained the 1,200 points it had lost in six sessions till Monday.

The BSE Bankex and the Oil & Gas indices soared 6.5% each to 11,226 and 12,139, respectively. The IT index zoomed 4.5% to 4280, and the Metal index gained 4% at 17,756.

The market breadth was fairly positive - out of 2,849 stocks traded, 2,025 advanced, 763 declined and 61 were unchanged today.

BIG MOVERS...

All index stocks ended with gains today.

HDFC Bank zoomed nearly 11% to 1,749. ICICI Bank soared nearly 9% to Rs 1,278.

Reliance, Hindalco and Wipro surged around 7% each to Rs 2,888, Rs 218 and Rs 471, respectively.

HDFC rallied 6.5% to Rs 2,756. Satyam and Infosys gained 5% each at Rs 431 and Rs 1,706, respectively.

ONGC moved up over 4% to Rs 1,235.

Reliance Energy, TCS, BHEL and Maruti added 3.5% each to Rs 1,920, Rs 983, Rs 2,874 and Rs 1,039, respectively.

Bharti Airtel, Grasim and Tata Steel advanced over 3% each to Rs 860, Rs 3,668 and Rs 858, respectively.

VALUE & VOLUME TOPPERS

Reliance Petroleum topped the value chart with a turnover of Rs 678.80 crore followed by Reliance (Rs 541.70 crore), Reliance Natural Resources (Rs 344.25 crore), Reliance Energy (Rs 239 crore) and Essar Oil (Rs 205.50 crore).

Reliance Petroleum led the volume chart with trades of around 3.07 crore shares followed by Reliance Natural Resources (2 crore), Ispat Industries (2 crore), Essar Oil (1.88 crore) and Facor Steels (1.38 crore).

How BSE Indices closed on November 14th...

Sensex ends up nearly 300pts, NTPC gains 7%...

The Sensex opened with a negative gap of 56 points at 18,681, and dropped to a low of 18,636 in early deals.

Renewed buying at lower levels in HDFC Bank, NTPC and L&T saw the index zoom to a high of 19,210 - an intra-day swing of 574 points.

The Sensex finally closed with a gain of 298 points (1.59%) at 19,035.

All the sectoral indices, too, finished with sharp gains today. The BSE Bankex zoomed 352 points (3.5%) to 10,538. The BSE MidCap Index gained 168 points (2.1%) to 8114.

The market breadth was bullish - out of 2,821 scrips traded, 1,852 logged gains today.

INDEX GAINERS...

NTPC zoomed over 7% (Rs 19) to close at Rs 272.

HDFC Bank gained nearly 7% (Rs 103) at Rs 1,578.

L&T advanced nearly 5% (Rs 202) to Rs 4,369.

HDFC and SBI were up nearly 3% each at Rs 2,587 and Rs 2,296, respectively.

ICICI Bank and Tata Steel finished with gains of over 2% each at Rs 1,176 and Rs 833, respectively.

.... AND LOSERS

Wipro slipped over 3% to Rs 441. TCS, Infosys and Satyam also declined today.

MOST ACTIVE COUNTERS

Reliance Natural Resources was the most active counter with a turnover of Rs 535 crore followed by Reliance (Rs 360 crore), Reliance Petroleum (Rs 323 crore), NTPC (Rs 212 crore) and L&T (Rs 200 crore).

How BSE Indices closed on November 13th...

FIIs net sellers of Rs 1,194cr in cash market today...

Foreign institutional investors (FIIs) were net sellers of Rs 1,194.38 crore (provisional) today, according to data released by BSE.

While FIIs made gross purchases of Rs 4,487.18 crore, gross sales totalled Rs 5,681.56 crore.

Domestic institutional investors (DIIs) were net buyers of Rs 65.99 crore today. While DIIs made gross purchases of Rs 1,209.86 crore, gross sales totalled Rs 1,143.87 crore.

FIIs were net sellers of Rs 286.90 crore on Friday, November 9, according to data released by Sebi today. While FIIs made gross purchases of Rs 4,366.10 crore, gross sales totalled Rs 4,653 crore.

Sensex ends down 171pts: ITC and NTPC zoom 5%; HUL surges 3%...

The Sensex opened with a negative gap of 267 points at 18,641 on weak global cues, and soon tumbled to a low of 18,333 - down 575 points from the previous close.

The index exhibited range-bound movement for the major part of the day. Fresh buying in late noon trades saw the index recover most of its lost ground and touch a high of 18,815 - up 482 points from the day's low.

The Sensex finally ended with a loss of 171 points at 18,737. The index has now shed 6.2% (1,239 points) in the last six trading sessions.

The BSE IT index shed 2.8% at 4135. The Auto and Oil & Gas indices were down around 2% each at 5110 and 11,369, respectively.

The market breadth was fairly negative - out of 2,768 stocks traded, 1,697 declined, 1,017 advanced and 54 were unchanged today.

INDEX MOVERS...

ITC and NTPC zoomed 5% each to Rs 178 and Rs 254, respectively. SBI rallied 3.5% to Rs 2,237.

Hindustan Unilever surged nearly 3% to Rs 199. Cipla gained 2.6% at Rs 182, and Hindalco added 2.3% at Rs 207.

Ambuja Cements and Grasim gained 1.4% each at Rs 147 and Rs 3,548, respectively. Larsen & Toubro was up 1% at Rs 4,167.

...AND THE SHAKERS

ONGC slumped 4.8% to Rs 1,180. Bharti Airtel and HDFC Bank plunged around 4% each to Rs 833 and Rs 1,478, respectively.

Infosys slipped 3.6% to Rs 1,642. Satyam, Mahindra & Mahindra and Bajaj Auto delcined around 3% each to Rs 413, Rs 720 and Rs 2,327, respectively.

Tata Steel, TCS, Reliance and Reliance Communications dropped over 2% each to Rs 815, Rs 964, Rs 2,677 and Rs 695, respectively.

VALUE & VOLUME TOPPERS

Reliance Natural Resources topped the value chart with a turnover of Rs 316.70 crore followed by Reliance (Rs 283.80 crore), Bharti Airtel (Rs 253.60 crore), Reliance Petroleum (Rs 240.70 crore) and Reliance Energy (Rs 222.30 crore).

Ispat Industries led the volume chart with trades of around 4.40 crore shares followed by Reliance Natural Resources (2.20 crore), Essar Oil (1.57 crore), MRPL (1.27 crore) and Reliance Petroleum (1.11 crore).

How BSE Indices closed on November 12th...

US Markets: Tech, Credit Hit Stocks Again; Markets Fall...

Source:


The stock market capped its worst three-day selloff in five years on Friday, once again led by pain in the technology and financial sectors.

The Dow Jones Industrial Average ended 223.55 points lower to 13042.74, and the S&P 500 lost 21.07 to 1453.70. The Nasdaq Composite Index declined 68.06 to 2627.94, or 2.5%.

In the past three days, the Nasdaq has tumbled nearly 7%, while the Dow and S&P 500 have fallen about 4.5% and 4.4%, respectively. That was the worst three-day performance for each index since November 11, 2002.

Formerly high-flying big-cap tech stocks such as Google, Apple and Research in Motion continued to swoon, falling 4.3%, 4.3% and 8.7%, respectively on the day. During the three-day selloff, Google lost 10.5%, Apple fell 13.8% and RIM sank 13.5% (even though it actually rose on Wednesday).

Triggering Friday's tech selloff was poor earnings guidance from Qualcomm. The cellphone-chip maker reported 84% growth in its fiscal fourth-quarter profit, but its forecast for fiscal 2008 fell below analysts' estimates. Qualcomm's shares fell 4.18% to $37.93, extending after-hours losses from Thursday.

Some analysts attributed tech's weakness to expectations of a broader economic slowdown and dreary business spending in the fourth quarter. "We are going to see the U.S. economy slow down, [and] CEOs will get more pessimistic about next year. Are they really going to go out and spend more money on technology?" said Scott Wren, senior equity strategist at A.G. Edwards & Sons.

The day's unwinding of the yen carry trade may also have played a role. In the past few months, many hedge funds have borrowed low-yielding yen to invest in U.S. technology stocks and short financials, according to Bill King, chief market strategist at M. Ramsey King Securities. Now they're unraveling that trade. "With technology stocks falling, they are selling tech and buying yen to return the money, which has pushed up the yen," he said.

The greenback recently fell to 110.79 yen, its lowest level against the Japanese currency since June 2006.

Bucking the trend, financials, which have been brutally crushed lately, eked out a gain. At one point in the late afternoon, the AMEX Securities Broker/Dealer index was up more than 2%, but a late-hour selling spree wiped out most of the gains.

Earlier Friday, a warning by Wachovia of a large write-down of its subprime exposure had generated a fresh wave of credit worries. The fourth-largest U.S. bank said it expects to take another $1.1 billion pretax hit -- on top of a $347 million write-down already announced -- as conditions continue to deteriorate in the subprime-mortgage market. Wachovia also signaled more losses are ahead in the fourth quarter. The bank is expected to file its quarterly report later today. However, its shares turned the tide and ended the day up 0.9% to $40.59.

Other financials ended in the black: Citigroup advanced 0.6%, Goldman Sachs gained 0.7%, Lehman Brothers was up 3.5%, and Morgan Stanley climbed 1%.

"There's…some bottom-fishing and short-covering taking place," said Vinny Catalano, chief investment strategist at Blue Marble Research. "A fair number of short positions held by hedge funds probably blossomed out lately, and these speculators are now buying back the stocks to take profits, offering buying support for financial stocks."

"It's extraordinary that we have a down market and financials are performing well. It might suggest they have turned the corner, but I won't buy financials just based on one day's performance," said Hugh Johnson, chief investment officer at Johnson Illington Advisors. "There will be another shoe to drop, or two shoes."

On the New York Stock Exchange, 884 stocks advanced and 2,392 declined, on composite volume of 1.825 billion shares traded in stocks listed on the exchange.

Gems of advice from Warren Buffett...

Warren Buffett, Chairman of Berkshire Hathaway, is arguably the world's greatest investor and the third richest man with a net worth exceeding $52 billion (Rs 213,200 crore). He is also a great philanthropist: last year he declared plans to give away over $37 billion (Rs 151,700 crore) in charity, to the Bill & Melinda Gates Foundation.

But he is not just a man with a large heart and a matching wallet. Also known as The Sage of Omaha, he is also full of wisdom and wit.

Here are some of his gems of advice for investors who look at the stock market to make a fortune, culled from various publications, his speeches and writings:

• 'Never invest in a business you cannot understand.'
• 'Always invest for the long term.'
• 'Remember that the stock market is manic-depressive.'
• 'Buy a business, don't rent stocks.'
• 'Price is what you pay. Value is what you get.'
• 'Stop trying to predict the direction of the stock market, the economy, interest rates, or elections.'
• 'I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.'
• 'Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway.'
• 'Buy companies with strong histories of profitability and with a dominant business franchise.'
• 'It is optimism that is the enemy of the rational buyer.'
• 'The ability to say 'no' is a tremendous advantage for an investor.'
• 'If you're doing something you love, you're more likely to put your all into it, and that generally equates to making money.'
• 'Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.'
• 'The investor of today does not profit from yesterday's growth.'

Market ends lower on Mahurat trade after gap up opening...

Samvat 2064 started on a negative note as markets ended weak after seeing a gap up opening in Mahurat trade. It is the first negative close on Mahurat trading in the last 7 years. It is festive season and was more like a token day without much particiaption from institutional investors. The volumes were very low. Broader markets outperformed the frontliners.

It has been slightly sluggish in US and cues were not very encouraging from other markets. Dow ended in red and continuing the trend most Asian markets ended lower.

The Indian market ended in red continuing the correction and consolidation that started in the past few sessions. The markets have corrected tracking the gloabl peers on account of credit concerns in US.

In the opening trade Sensex was up 244 points and Nifty was up 78 points. Later reversed all its gains and Sensex was down 151.33 points or 0.79% at 18,907.60, and the Nifty down 35.50 points at 5663.25.

About 2005 shares advanced, 967 shares declined, and 93 shares were unchanged.

The midcap stocks were attracting all the attention. Gujarat NRE Coke, Ispat, Gitanjali Gems, Zee News were among the gainers. NTPC, Reliance Ind, Reliance Communication, HPCL, BPCL, Suzlon Energy, Cipla were among the top gainers.

Wipro, ICICI Bank, Satyam, ACC, Bharti Airtel, Tata Steel, SAIL and Tata Power were among the top losers. ACC, ICICI Bank, SAIL and Tata Power were down over 3% each.

There is a word of caution from most of the analyst. In the near term the markets will see some correction and consolidation but on the positive side the long term view continues to be bullish, say experts.

When we look at Diwali to Diwali returns, Sensex is up 50%, Nifty is up 55%, CNX Midcap up 55%. The Sensex has crossed 8 milestone of 1000 points since last Diwali. It has moved up from 13,000 to 20,000.

The market capitalisation has added Rs 29 lakh crore to Rs 62 lakh crore. Among the indices, capital goods index gave the highest return it was up 133%. However, IT index was the laggard down 9%.

How BSE indices closed on November 9th...

Wish you a very happy Diwali...

How US markets closed on 8.11.2007...

Dow Jones Industrial Average...

Nasdaq

S&P 500

Happy Diwali...

Tomorrow, India celebrates the festival of lights...


May this auspicious day shower you with blessings of peace and prosperity...

News Snapshots...

# Sensex ends down 231pts, Hindalco zooms 8%


# Reliance Power bags Krishnapatnam UMPP


# Muhurat trading on Nov 9 from 6 to 7pm


# Elections by Feb 15, says Pak Prez Musharraf


# CCEA okays Rs1,228cr Mumbai port OCT project


# FIIs net sellers of Rs 1,357cr in cash market


# Sonia to inaugurate Hyd airport on March 16


# Lakshmi Mittal eyes 50% stake in Prize Petro


# Jairam Ramesh slams Mittal on BSNL comments


# CPM, BUPC agree to ceasefire in Nandigram


# Branded petrol, diesel to cost more


# PM concerned at rising fuel subsidy

Sensex ends down 231points, Hindalco zooms 8%, ACC gains 3%...

Mirroring weakness in the global markets, the Sensex opened with a negative gap of 180 points at 19,110, and slipped below the 19,000-mark in early deals.

Fresh buying at lower levels saw the index recover some ground and touch a high of 19,210. Persistent weakness in select counters - ONGC, Bharti Airtel and banking stocks - saw the index slip back below the 19,000-mark again to a low of 18,917. The index finally closed with a loss of 231 points at 19,059.

The Sensex thus ended Samvat 2063 with a gain of 50% (6,350 points).

The BSE Bankex dropped 2.5% to 10,353. The Metal and the Realty indices slipped around 2% each to 17,050 and 10,078, respectively.

The market breadth was negative - out 2,789 stocks traded, 1,645 declined, 1,074 advanced and 70 were unchanged.

INDEX LAGGARDS...

ONGC slumped 4% to Rs 1,237. SBI and HDFC Bank plunged 3.7% each to Rs 2,185 and Rs 1,559, respectively.

Reliance Communications and ICICI Bank tumbled 3% each to Rs 705 and Rs 1,168, respectively.

Tata Motors dropped over 2% to Rs 706. Grasim, Bharti Airtel and Tata Steel shed 1.8% each at Rs 3,546, Rs 884 and Rs 845, respectively.

Infosys, Wipro and Cipla slipped around 1.5% each to Rs 1,716, Rs 470 and Rs 177, respectively.

Mahindra & Mahindra and BHEL were down 1% each at Rs 751 and Rs 2,794, respectively.

...AND THE MOVERS

Hindalco zoomed 8% to Rs 204. ACC gained nearly 3% to Rs 1,057.

Reliance Energy surged 1.7% to Rs 1,851. Hindustan Unilever and Ranbaxy were up almost 1% each at Rs 194 and Rs 431, respectively.

VALUE & VOLUME TOPPERS

Reliance Natural Resources topped the value chart with a turnover of Rs 539.70 crore followed by Reliance Petroleum (Rs 450 crore), Reliance Energy (Rs 413.80 crore), Reliance Capital (Rs 358.40 crore) and Reliance (Rs 309.30 crore).

Reliance Natural Resources led the volume chart with trades of around 3.59 crore shares followed by Ispat Industries (2.83 crore), Reliance Petroleum (2.07 crore), IFCI (1.12 crore) and Nocil (87.28 lakh).

How BSE indices closed on November 8th...