Saturday, July 12, 2008

US stocks tumble; ADRs in red

US stocks tumbled on Friday, July 11, as fears about the stability of the top two home financing providers, Fannie Mae and Freddie Mac, combined with oil at a record above $147 to cloud the economic outlook.


The Dow Jones Industrial Average was down 128 points at 11,100 and the Nasdaq was down 18 points to 2239.


Indian ADRs ended on a negative note.


Dr Reddy's was up 1.9% and Sterlite Industries advanced marginally.


Infosys tumbled 13.3% and Satyam plunged 9.2%. ICICI Bank lost 7.4% and Genpact was down 4.9%. Patni Computer slipped 4.7%. Tata Communications shed 3.9% and HDFC Bank dropped 3.4%. MTNL was down 4.7%.


Wipro and Tata Motors were the other losers.

Friday, July 11, 2008

Snapshot

Sensex ends down 456pts; tech stocks slide.

Inflation rises to 11.89 %.

Industrial growth slows down to 3.8%.

Infosys net up...

IT giant Infosys today reported 21% increase in Q1 net at Rs 1,302 cr, and also raised its FY09 topline guidance to 28% from 20% growth projected earlier.

Wednesday, July 2, 2008

Sensex bounces back, ends up 703pts


Sensex Bounces Back: The main index of the Bombay Stock Exchange, the Sensex, soared over 700pts today after having shed 1,460pts in the last three days.

Tuesday, July 1, 2008

Sensex ends below 13K, down 500pts


The Sensex opened maginally (18 points) higher at 13,480. After gyrating between zones the index touched a high of 13,613, and thereafter slipped deeper into red as the day progressed.



Heavy all-round selling saw the index plunge below the 13,000-mark to a low of 12,904. The Sensex finally ended with a loss of 558 points at 12,904.


The market breadth was extremely negative - out of 2,724 stocks traded, 2,268 declined and 409 advanced today.


The NSE Nifty dropped 144 points to end below the 4,000-mark at 3,897.


INDEX SHAKERS...


Reliance Infrastructure and Reliance Communications slumped 10.5% each to Rs 688 and Rs 392, respectively.


Mahindra & Mahindra tumbled over 9% to Rs 430. Maruti and SBI plunged around 8% each to Rs 560 and Rs 1,007, respectively.


DLF shed 7% at Rs 361. HDFC and ICICI Bank dropped 6.5% each to Rs 1,800 and Rs 580, respectively.


Jaiprakash Associates slipped 6% to Rs 131. Hindalco declined 5.6% to Rs 132.


Grasim and Wipro were down 5% each at Rs 1,701 and Rs 413, respectively.


...SOLE GAINER


NTPC up 1% at Rs 153 was the sole gainer among the index stocks.


MOST ACTIVE COUNTERS


Reliance topped the value chart with a turnover of Rs 421.50 crore followed by Reliance Capital (Rs 337.70 crore), Reliance Petroleum (Rs 239.25 crore), Reliance Infrastructure (Rs 137.75 crore) and Reliance Communications (Rs 115.40 crore).