The main index of the Bombay Stock Exchange, the Sensex, ended with a loss of 2.5% (342pts) today. The index has shed 33.6% (6,825pts) so far in this calendar year.
Monday, June 30, 2008
Sensex fall again...by 342 points
The main index of the Bombay Stock Exchange, the Sensex, ended with a loss of 2.5% (342pts) today. The index has shed 33.6% (6,825pts) so far in this calendar year.
Snapshots...
DPLI to launch operations in Q3:
DLF Pramerica Life Insurance (DPLI) has received the final license from the IRDA. The company plans to commence life insurance business in the third-quarter of this year.
India's SBI sees $230 million treasury depreciation:
State Bank of India, the country's largest lender, has said that it would likely have to set aside at least 10 billion rupees ($232.8 million) to provide for depreciation in its treasury.
Japan, India enter bilateral swap agreement:
India and Japan on Monday concluded a bilateral arrangement for swapping of local currencies against the US dollar for up to $3 billion.
Rising oil, political uncertainty thrash sensex:
It was a sharp cut across the sectors on the Bombay Stock Exchange on the back of rising crude oil price, political uncertainty and institutional selling. Rate sensitive sectors like realty, banking and auto have been butchered very badly.
DLF Pramerica Life Insurance (DPLI) has received the final license from the IRDA. The company plans to commence life insurance business in the third-quarter of this year.
India's SBI sees $230 million treasury depreciation:
State Bank of India, the country's largest lender, has said that it would likely have to set aside at least 10 billion rupees ($232.8 million) to provide for depreciation in its treasury.
Japan, India enter bilateral swap agreement:
India and Japan on Monday concluded a bilateral arrangement for swapping of local currencies against the US dollar for up to $3 billion.
Rising oil, political uncertainty thrash sensex:
It was a sharp cut across the sectors on the Bombay Stock Exchange on the back of rising crude oil price, political uncertainty and institutional selling. Rate sensitive sectors like realty, banking and auto have been butchered very badly.
Friday, June 27, 2008
Sensex sheds 620 points (4%)...
The main index of the Bombay Stock Exchange, the Sensex, ended with a loss of 4% (620pts) today. The index has shed a whopping 21% (3,633pts) in the last six straight weeks.
Snapshots...
Sensex tanks 620pts on global, inflation worries
Aviation fuel prices likely to rise again
JK Paper net up 33% to Rs 15.8 cr
MSCB ties-up with Bajaj Allianz
MNRE announces incentive for wind energy projects
Acma condemns Nama draft text
Parsvnath secures order worth Rs 125 cr
Inflation now seen breaching 12 %
FIIs net sell Rs 703cr, DIIs net buy Rs 306cr
'No tax holiday on gas production'
Inflation at 11.42% for week ended June 14
Aviation fuel prices likely to rise again
JK Paper net up 33% to Rs 15.8 cr
MSCB ties-up with Bajaj Allianz
MNRE announces incentive for wind energy projects
Acma condemns Nama draft text
Parsvnath secures order worth Rs 125 cr
Inflation now seen breaching 12 %
FIIs net sell Rs 703cr, DIIs net buy Rs 306cr
'No tax holiday on gas production'
Inflation at 11.42% for week ended June 14
India's key stock index drops 4.2 percent on oil price concerns
Indian shares dropped sharply Friday, June 27, amid jitters about soaring oil prices and a regional sell-off. In morning trading, the Bombay Stock Exchange's benchmark 30-stock Sensex fell 611 points, or 4.2 percent, to 13,810 points.
Analysts said the markets were reacting to weak global cues and persistent concerns that crude prices could rise well above US$150 a barrel this year. Chakib Khelil, president of the Organization of the Petroleum Exporting Countries, has said he believes oil prices could rise to between US$150 and US$170 a barrel this summer.
"Sentiment is bearish. There are fears that crude will touch US$180, this is a worry that cannot be stamped out easily," said Gul Tekchandani, a Mumbai-based investment adviser.
"Few can stomach this volatility, plus there are weak global cues with the U.S. economy also down." The central bank hiked rates earlier this week to rein in soaring inflation, which has risen to 13-year highs.
Worries about higher rates on car and home loans caused shares of automakers to slide. Among the big losers were Tata Motors Ltd. and Mahindra & Mahindra Ltd., which both fell more than 5 percent.
Leading banks such as HDFC Bank Ltd. and ICICI Bank Ltd. also fell about 5 percent in trading on Friday, June 27.
Analysts said the markets were reacting to weak global cues and persistent concerns that crude prices could rise well above US$150 a barrel this year. Chakib Khelil, president of the Organization of the Petroleum Exporting Countries, has said he believes oil prices could rise to between US$150 and US$170 a barrel this summer.
"Sentiment is bearish. There are fears that crude will touch US$180, this is a worry that cannot be stamped out easily," said Gul Tekchandani, a Mumbai-based investment adviser.
"Few can stomach this volatility, plus there are weak global cues with the U.S. economy also down." The central bank hiked rates earlier this week to rein in soaring inflation, which has risen to 13-year highs.
Worries about higher rates on car and home loans caused shares of automakers to slide. Among the big losers were Tata Motors Ltd. and Mahindra & Mahindra Ltd., which both fell more than 5 percent.
Leading banks such as HDFC Bank Ltd. and ICICI Bank Ltd. also fell about 5 percent in trading on Friday, June 27.
Wednesday, June 18, 2008
Sensex ends down 274pts; ICICI Bank slips 4%...
The Sensex opened 47 points higher at 15,744 despite the negative close in the US markets and touched a day's high of 15,790.
Unabated selling in realty, banking and IT stocks pushed the index into a negative zone. The index drifted to a low of 15,390 - down 400 points from day's high.
The Sensex finally ended with a loss of 274 points at 15,422.
The markets breadth was marginally negative - out of 2,731 stocks traded, 1,402 declined, 1,254 advanced and 75 were unchanged today.
The NSE Nifty ended with a loss of 71 points at 4,582.
THE SHAKERS...
ICICI Bank tumbled 4.2% to Rs 785. HDFC Bank plunged 3.4% to Rs 1,166. Tata Steel declined 3.2% to Rs 823.
Larsen & Toubro slipped 3.1% to Rs 2,750. Jaiprakash Associates dropped 2.9% to Rs 182. Reliance Infrastructure lost 2.8% at Rs 1,073.
DLF and Bharti Airtel declined 2.7% each to Rs 492 and Rs 811, respectively.
BHEL and SBI shed 2.6% each at Rs 1,499 and Rs 1,351, respectively.
Infosys was trading at Rs 1,866 - down 2.5%. Satyam lost 2.4% to Rs 472. TCS shed 2.3% to Rs 900.
Reliance and Wipro were down nearly 2% each at Rs 2,283 and Rs 485, respectively.
NTPC, Hindustan Unilever and Cipla were the other major losers.
...AND THE MOVERS
Ambuja Cements soared 4.8% to Rs 91. Ranbaxy surged 2.9% at Rs 598.
Grasim gained 2.4% to Rs 2,229. Maruti advanced 1.2% to Rs 765.
Hindalco and ACC added nearly 1% each at Rs 174 and Rs 643, respectively.
ITC was up 0.8% at Rs 204, while HDFC inched 0.7% to Rs 2,314.
MOST ACTIVE COUNTERS
Anu Labs led the value chart with a turnover of Rs 643.25 crore followed by Reliance Capital (Rs 286.02 crore), Ranbaxy (Rs 245.66 crore), Reliance (Rs 211.08 crore) and Reliance Petroleum (Rs 163.07 crore).
Anu Labs, also, topped the volume chart with trades of around 1.49 crore shares followed by Ispat Industries (1.40 crore), Chambal Fertilisers (1.30 crore), Reliance Natural Resources (1.28 crore) and IFCI (1.14 crore).
Saturday, June 14, 2008
Friday, June 13: US stocks advance; Fears of US inflation ease; ADRs positive...
US stocks advanced on Friday, June 13. The Wall Street gains were driven by some reassuring news on the inflation front. A government report on the US Consumer Price Index showed that underlying price pressures were muted in May, easing fears of inflation and a near-term rise in interest rates.
The Dow Jones Industrial Average was up 165 points at 12,307 and the Nasdaq gained 50 points to 2454.
Indian ADRs ended on a positive note. ICICI Bank gained 3.9%. MTNL was up 3.2%. Satyam and Wipro advanced 2%. Infosys gained 1.9% and Dr Reddy's was up 1.2%. Tata Communications, HDFC Bank and Genpact gained less than one per cent.
Sterlite Industries declined 1.5%. Tata Motors and Patni Computers were the other losers.
The Dow Jones Industrial Average was up 165 points at 12,307 and the Nasdaq gained 50 points to 2454.
Indian ADRs ended on a positive note. ICICI Bank gained 3.9%. MTNL was up 3.2%. Satyam and Wipro advanced 2%. Infosys gained 1.9% and Dr Reddy's was up 1.2%. Tata Communications, HDFC Bank and Genpact gained less than one per cent.
Sterlite Industries declined 1.5%. Tata Motors and Patni Computers were the other losers.
Blood Donor Day
Today (June 14) is Blood Donor Day.
On the occasion of Blood Donor Day I take the opportunity to once again place on record my heartfelt thanks to all those many wonderful people who donated blood and arranged for blood donors for my beloved wife Priti when she was hospitalised for five weeks with Septicemia earlier this year.
Your blood saved her life.
On the occasion of Blood Donor Day I take the opportunity to once again place on record my heartfelt thanks to all those many wonderful people who donated blood and arranged for blood donors for my beloved wife Priti when she was hospitalised for five weeks with Septicemia earlier this year.
Your blood saved her life.
Monday, June 9, 2008
Sensex slips 506pts; JP Associates down 8.6%
The Sensex opened with a huge negative gap of 456 points at 15,116 due to weak global cues.
Rising oil prices and inflation worries pushed the index into a negative zone to touch a day's low of 14,846 - down 726 points from its previous close.
Realty, IT, capital goods and oil & gas stocks suffered the most today. The index recovered partially and touched a day's high of 15,203.
The Sensex finally ended with a loss of 506 points at 15,066.
The market breadth was extremely negative - out of 2,693 stocks traded, 2,170 declined, 474 advanced and 49 were unchanged.
The NSE Nifty ended with a loss of 127 points at 4,501.
INDEX SHAKERS...
Jaiprakash Associates tumbled 8.6% to Rs 184. DLF plunged 7.4% at Rs 481. ONGC slipped over 7% to Rs 873.
HDFC declined 6% at Rs 2,207, while Reliance Infrastructure slipped 5.6% to Rs 1,038.
Wipro dipped 4.8% to Rs 480. TCS and Infosys shed around 4.5 each at Rs 915 and Rs 1,904, respectively.
HDFC Bank and Tata Motors were down 4.3% each at Rs 1,184 and Rs 517, respectively.
Ambuja Cements lost 4.1% at Rs 82. Satyam and Reliance declined 3.4% each at Rs 491 and Rs 2,163, respectively.
BHEL was down 3.3% at Rs 1,374, and SBI slipped 3.2% to Rs 1,293.
Larsen & Toubro and ITC lost nearly 3% to Rs 2,602 and Rs 207, respectively.
ICICI Bank and Bharti Airtel were down 2.7% each at Rs 750 and Rs 781, respectively.
ACC, Maruti and NTPC were the other major losers.
...AND THE MOVERS
Ranbaxy gained 3.9% at Rs 526. Reliance Communications advanced 1.3% to Rs 554.
Hindalco was up 0.2% to Rs 176.
MOST ACTIVE COUNTERS
Reliance led the value chart with a turnover of Rs 372.06 crore followed by Reliance Petroleum (Rs 252.55 crore), Cairn India (Rs 222.75 crore), Reliance Communications (Rs 214.36 crore) and Reliance Capital (Rs 211.24 crore).
IFCI topped the volume chart with trades of around 1.93 crore shares followed by Reliance Petroleum (1.52 crore), Reliance Natural Resources (1.14 crore), Ispat Industries (1.05 crore) and Cairn India (74 lakh).
Sunday, June 8, 2008
June 6th: US stocks decline; ADRs end on a weak note...
US stocks plunged on Friday June 6th, marking the Dow's worst day in 15 months, after the government said the May unemployment rate jumped the most in 22 years and oil prices shot to another record.
The Dow Jones Industrial Average was down 394 points at 12,209 and the Nasdaq declined 75 points to 2,474.
Indian ADRs too ended on a weak note. HDFC Bank lost 7.4%. Satyam and Wipro declined 5.6%. Sterlite dipped 4.2% while ICICI Bank lost 4%. Dr Reddy's and Infosys lost 3.9% and Tata Motors lost 3.4%. MTNL lost 2.4% and Patni Computers declined 2.3%. Genpact was the only gainer up 2.3%.
The Dow Jones Industrial Average was down 394 points at 12,209 and the Nasdaq declined 75 points to 2,474.
Indian ADRs too ended on a weak note. HDFC Bank lost 7.4%. Satyam and Wipro declined 5.6%. Sterlite dipped 4.2% while ICICI Bank lost 4%. Dr Reddy's and Infosys lost 3.9% and Tata Motors lost 3.4%. MTNL lost 2.4% and Patni Computers declined 2.3%. Genpact was the only gainer up 2.3%.
Wednesday, June 4, 2008
Sensex slides 448pts; ONGC gains 5%
The Sensex opened 30 points higher at 15,993, and soon slipped into a negative zone in early trades after the government announced the hike in fuel prices.
The index touched a day's low of 15,442 - down 520 points from its previous close due to heavy selling in realty, metal, power and oil & gas stocks. All the sectoral indices were in red today.
The Sensex finally ended with a loss of 448 points at 15,515.
The market breadth was negative - out of 2,719 stocks traded, 1,967 declined, 676 advanced and 76 were unchanged today.
The NSE Nifty ended with a loss 130 points at 4,586.
INDEX SHAKERS...
Ambuja Cements plunged 5.5% to Rs 87, while Tata Steel tumbled 5.4% to Rs 816.
HDFC Bank slipped 5.2% to Rs 1,216. Maruti and BHEL dipped 5% each at Rs 746 and Rs 1,471, respectively.
Reliance Infrastructure and Tata Motors declined 4.9% each to Rs 1,070 and Rs 542, respectively.
DLF was down 4.7% at Rs 555, and Reliance dropped 4.1% to Rs 2,307.
Jaiprakash Associates, Mahindra & Mahindra and SBI were down around 4% each to Rs 198, Rs 568 and Rs 1,332, respectively.
Bharti Airtel slipped 3.8% to Rs 809. Hindalco and Larsen & Toubro lost around 3% each at Rs 179 and Rs 2,765, respectively.
Satyam slipped 2.8% to Rs 486. Infosys declined 2.7% to Rs 1,870.
HDFC and ACC shed 2.6% each at Rs 2,395 and Rs 633, respectively.
Reliance Communications was trading at Rs 540 - down 2.3%.
TCS, Ranbaxy and Hindustan Unilever were the other major losers.
...AND THE MOVERS
ONGC was the only gainer among the Sensex stocks, up 5.3% to Rs 887.
MOST ACTIVE COUNTERS
Anu's Laboratories led the value chart with a turnover of Rs 452.66 crore followed by Gokul Refoils (Rs 438 crore), ONGC (Rs 313.48 crore), Reliance (Rs 308.80 crore) and Reliance Petroleum (Rs 268.68 crore).
Gokul Refoils topped the volume chart with trades of around 2.11 crore shares followed by IFCI (1.78 crore), Anu's Laboratories (1.65 crore), Reliance Petroleum (1.57 crore) and Ispat Industries (1.39 crore).
The index touched a day's low of 15,442 - down 520 points from its previous close due to heavy selling in realty, metal, power and oil & gas stocks. All the sectoral indices were in red today.
The Sensex finally ended with a loss of 448 points at 15,515.
The market breadth was negative - out of 2,719 stocks traded, 1,967 declined, 676 advanced and 76 were unchanged today.
The NSE Nifty ended with a loss 130 points at 4,586.
INDEX SHAKERS...
Ambuja Cements plunged 5.5% to Rs 87, while Tata Steel tumbled 5.4% to Rs 816.
HDFC Bank slipped 5.2% to Rs 1,216. Maruti and BHEL dipped 5% each at Rs 746 and Rs 1,471, respectively.
Reliance Infrastructure and Tata Motors declined 4.9% each to Rs 1,070 and Rs 542, respectively.
DLF was down 4.7% at Rs 555, and Reliance dropped 4.1% to Rs 2,307.
Jaiprakash Associates, Mahindra & Mahindra and SBI were down around 4% each to Rs 198, Rs 568 and Rs 1,332, respectively.
Bharti Airtel slipped 3.8% to Rs 809. Hindalco and Larsen & Toubro lost around 3% each at Rs 179 and Rs 2,765, respectively.
Satyam slipped 2.8% to Rs 486. Infosys declined 2.7% to Rs 1,870.
HDFC and ACC shed 2.6% each at Rs 2,395 and Rs 633, respectively.
Reliance Communications was trading at Rs 540 - down 2.3%.
TCS, Ranbaxy and Hindustan Unilever were the other major losers.
...AND THE MOVERS
ONGC was the only gainer among the Sensex stocks, up 5.3% to Rs 887.
MOST ACTIVE COUNTERS
Anu's Laboratories led the value chart with a turnover of Rs 452.66 crore followed by Gokul Refoils (Rs 438 crore), ONGC (Rs 313.48 crore), Reliance (Rs 308.80 crore) and Reliance Petroleum (Rs 268.68 crore).
Gokul Refoils topped the volume chart with trades of around 2.11 crore shares followed by IFCI (1.78 crore), Anu's Laboratories (1.65 crore), Reliance Petroleum (1.57 crore) and Ispat Industries (1.39 crore).
Tuesday, June 3, 2008
Snapshot...June 3rd...
Sensex slips 100pts; Reliance Infra down 4%
PM's assurance of controlling prices 'hoax': BJP
Himalaya Drugs, Bangalore Agri University ink MoU
Dhandapani Finance to consider sale of business
Power target for June unlikely to be met: Jairam
Essar Oil to settle with half stake in KPRL
Nissan to produce next gen Micra from Chennai
RSP posts best ever performance for April-May
EIL Q4 net up 33% to Rs 56.68 cr
Goa will pursue dropping of SEZs: MP
Punj Lloyd acquires 74% stake in Technodyne
Mphasis MD Deepak Patel quits
Suzlon signs MoU with US Department of Energy
PM's assurance of controlling prices 'hoax': BJP
Himalaya Drugs, Bangalore Agri University ink MoU
Dhandapani Finance to consider sale of business
Power target for June unlikely to be met: Jairam
Essar Oil to settle with half stake in KPRL
Nissan to produce next gen Micra from Chennai
RSP posts best ever performance for April-May
EIL Q4 net up 33% to Rs 56.68 cr
Goa will pursue dropping of SEZs: MP
Punj Lloyd acquires 74% stake in Technodyne
Mphasis MD Deepak Patel quits
Suzlon signs MoU with US Department of Energy
News: June 3rd...
Companies & Industry:
Maruti, Hyundai car sales spurt in anticipation of price rise
Carrefour cajoles Indian realtors in partner quest
Jet, Spice, Kingfisher to cut flights, routes to prune losses
Jindal Steel plans Rs 5k cr power plant in Orissa
Economy & Policy:
RBI proposes higher capital adequacy for NBFCs
Exports in April up 31.5%
India inks DTAA with Luxembourg
Banking, financial activities to come under service tax scanner
Banking & Finance:
Yes, Axis Bank securitise Rs 1k cr oil company loans
RBI aid for oil firms lifts Rupee
Merger of SBS with SBI soon
Burmans, Liberty Mutual tie up for non-life insurance JV
Maruti, Hyundai car sales spurt in anticipation of price rise
Carrefour cajoles Indian realtors in partner quest
Jet, Spice, Kingfisher to cut flights, routes to prune losses
Jindal Steel plans Rs 5k cr power plant in Orissa
Economy & Policy:
RBI proposes higher capital adequacy for NBFCs
Exports in April up 31.5%
India inks DTAA with Luxembourg
Banking, financial activities to come under service tax scanner
Banking & Finance:
Yes, Axis Bank securitise Rs 1k cr oil company loans
RBI aid for oil firms lifts Rupee
Merger of SBS with SBI soon
Burmans, Liberty Mutual tie up for non-life insurance JV
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