High volatility characterised trading in the last one hour. The market came off the higher level after a surge which took the Sensex past the psychological 11000 mark in late trade. Metal, banking and realty shares surged. Shares of software outsourcers, however, lagged as rupee gained against the dollar. The BSE 30-share Sensex rose 163.36 points or 1.51%
The trading session was marked with intense volatility. After a strong opening triggered by a rally in global equities, the market slipped into the red. It soon recovered as the sentiment remained firm on resumption of buying by foreign funds in the past few days. The market pared gains in afternoon trade after trade secretary G K Pillai said India's exports are expected to have fallen about 31% in March 2009 from a year earlier with the global slump hurting overseas sales of Indian firms
The market came off the lower level and surged again in the mid-afternoon trade. After hitting 11,000 market, the Sensex once again pared gains in late trade.
Pillai said provisional figures show exports just under $12 billion in March 2009. India's imports may have fallen 37% in March 2009, he added.
The BSE 30-share Sensex rose 163.36 points or 1.51% to 10,967.22. At the day's high of 11,069.54, the Sensex rose 265.68 points in the mid-afternoon trade, its highest level since 15 October 2008. At the day's low of 10,800.84, the Sensex fell 3.02 points in early trade.
The S&P CNX Nifty was up 24.90 points or 0.75% at 3366.95.
The BSE Mid-Cap index was up 3.17% and the BSE Small-Cap index was up 3.92%. Both the indices outperformed the Sensex.
The market breadth was strong. On BSE, 2060 shares rose as compared to 517 that declined. A total of 63 shares were unchanged.
The BSE reported a turnover of Rs 5398 crore, lower than Rs 5932.83 on Thursday, 9 April 2009.
The stock market remains closed tomorrow, 14 April 2009, on account of Dr. Ambedkar Jayanti.
Asian markets surged today, 13 April 2009 after Japanese prime minister Taro Aso more than doubled stimulus spending and Chinese lending rose by a record. Key benchmark indices in China, Singapore, South Korea and Taiwan were up by between 0.17% and 2.95%. Indonesia's Jakarta Composite Index surged 4.61% after elections boosted the position of the country's president. However, the Nikkei 225 average was down 0.44%.
On 10 April 2009, Japan's Aso unveiled a record 15.4 billion yen ($153 billion) stimulus plan, his third since taking office and bringing total spending to 25 trillion yen. The proposal includes a 1.6 trillion yen investment in low-carbon technology, 1.9 trillion yen on employment measures and 370 billion yen for subsidies of new car purchases.
China's banks, which are mostly state-owned, have already met the bulk of the government's target of at least 5 trillion yuan of new loans this year. The People's Bank of China said the government's stimulus package is showing initial results and it will continue to ensure sufficient liquidity after new loans surged sixfold to a record in March 2009.
Several Asia-Pacific markets including Hong Kong, Thailand, New Zealand and Australia were are shut today, 13 April 2009 for Easter Monday. European markets were also closed for Easter Monday
Trading in US index futures showed the Dow could fell 33 points at the opening bell on Monday, 13 April 2009
US markets jumped on Thursday, 9 April 2009 after Wells Fargo said it expects to report a record quarterly profit, fueling a month-long rally prompted by hopes that deterioration in the financial sector was abating. The Dow Jones Industrial Average rose 246.27 points, or 3.14%, to 8,083.38, the Standard & Poor's 500 Index gained 31.40 points, or 3.81%, to 856.56 and the Nasdaq Composite Index climbed 61.88 points, or 3.89%, to 1,652.54.
US President Barack Obama said on 10 April 2009, the US economy is starting to see progress toward recovery. He cited a 20% increase in government-backed loans to small business in the past month as one sign the economy is on the rebound.
Closer home, the market sentiment was firm due to resumption of buying by foreign funds in the past few days. According to provisional data on NSE, foreign institutional investors (FIIs) were net buyers worth Rs 170.92 crore on Thursday, 9 April 2009. Domestic institutional investors bought shares worth Rs 308.39 crore on Thursday, 9 April 2009.
India's largest private sector company by market capitalization and oil refiner Reliance Industries (RIL) rose 1.44%. The stock has a highest weightage of 17.63% on the Sensex. The company recently started pumping gas from the Krishna Godavari (KG) which is estimated to add close to $2 billion to the company's profit at peak production levels.
India's largest truck maker by sales Tata Motors rose 12.68% after its American depository receipt soared 15.06% to $7.64 on Thursday, 9 April 2009. Meanwhile, Tata Motors received a strong response for booking world's cheapest car 'Nano'.
State Bank of India alone is reported to have witnessed around 1.5 lakh bookings for Nano from its various branches on day one. Booking from Nano commenced on 9 April 2009. Tata reportedly expects to receive over six lakh applications during the booking period that ends on 25 April 2009.
World's sixth largest steel maker Tata Steel surged 7.77% on reports the company relied heavily on government-funded projects and the Railways in the face of a demand downturn to boost steel sales in Q4 March 2009. This indicates the company may declare good results Q4 March 2009 results.
India's largest private sector copper maker by sales Sterlite Industries jumped 6.83% after India's copper futures hit a new high today, 13 April 2009.
India's largest public sector bank by assets and branch network State Bank of India rose 6.63%. India's largest private sector bank by market capitalisation HDFC Bank rose 4.87%.
India's second largest software outsourcer by sales Infosys Technologies fell 1.05% on market talks that the IT bellwether may give a cautious outlook for the year ending March 2010 (FY 2010). The stock has a weightage of 8.98% on the Sensex.
Infosys will unveil its FY 2010 guidance at the time of unveiling Q4 March 2009 results on Wednesday, 15 April 2009. According to analysts, pricing pressure remains a major headwind for the IT sector as the global economy slows down.
Other software outsourcers also fell as the rupee firmed up against the dollar. Wipro lost down 2.30% and TCS fell 2%. The rupee firmed up against the dollar. The rupee was trading at 49.85 against the dollar, lower than Thursday's close of 50/50.02. A firm rupee affects operating profit of IT firms negatively as they earn most of their revenues from exports.
Among the other Sensex losers were Grasim Industries (down 2.58%), Ranbaxy Laboratories (down 1.80%), HDFC (down 1.65%), NTPC (down 1.62%), Hindustan Unilever (down 1.42%), and Bharti Airtel (down 1.35%).
Telecom software outsourcer Tech Mahindra soared 11.83% after the company won the bid for acquiring scam-hit IT firm Satyam Computer Services. As per reports Tech Mahindra bid for Satyam at Rs 58 per share, while Larsen & Toubro, the other player in the fray, bid at Rs 49.50 per share. Tech Mahindra would pay Rs 1,757 crore for a 31% stake in Satyam.
Satyam Computer Services rose 2.76%. Three months ago, Satyam's founder and chairman shocked investors by saying profits had been overstated for years, and put in doubt the survival of the company once ranked as India's fourth-largest software services exporter.
India's largest engineering and construction firm by revenue Larsen & Toubro (L&T) fell 1.07%. Larsen & Toubro plans to hold on to its stake in Satyam, its chief financial officer said in a television interview.
L&T had acquired 4% in Satyam at Rs 174 per share before Satyam's founder B Ramalinga Raju admitted on 7 January 2009 of a Rs 7,000-crore accounting fraud at the IT firm. L&T later had to hike its stake in Satyam to 12% as the initial cost of investment in Satyam was at risk after the Satyam stock tumbled hit by Raju's confession of the fraud on 7 January 2009.
LED display maker MIC Electronics hit upper circuit limit of 10%. On 6 April 2009, its chief said in a television interview that the company expects to do sales of Rs 450 crore in 2010 and profit is expected to be around Rs 100 crore.
India's largest listed retailer by sales Pantaloon Retail India jumped 8.04% ahead of its board meeting later today to decide on restructuring the company and changing its name. The board will decide on preferential issue of shares to the promoters and investors.
Drug maker Strides Arcolab rose 6.96% ahead of a board meet to consider various options of reorganizing the business of the company and its subsidiary companies.
India's biggest maker of wind-turbine generators by sales Suzlon Energy soared 11.66% after Tulsi Tanti, chairman of India's biggest maker of wind-turbine generators by sales, said the firm may return to profit in the quarter ended March 2009 after new orders boosted sales. Suzlon signed more than 300 megawatts of orders in the three months ended March 2009 from companies in Australia and China. The turbines will be supplied in the current quarter.
The trading session was marked with intense volatility. After a strong opening triggered by a rally in global equities, the market slipped into the red. It soon recovered as the sentiment remained firm on resumption of buying by foreign funds in the past few days. The market pared gains in afternoon trade after trade secretary G K Pillai said India's exports are expected to have fallen about 31% in March 2009 from a year earlier with the global slump hurting overseas sales of Indian firms
The market came off the lower level and surged again in the mid-afternoon trade. After hitting 11,000 market, the Sensex once again pared gains in late trade.
Pillai said provisional figures show exports just under $12 billion in March 2009. India's imports may have fallen 37% in March 2009, he added.
The BSE 30-share Sensex rose 163.36 points or 1.51% to 10,967.22. At the day's high of 11,069.54, the Sensex rose 265.68 points in the mid-afternoon trade, its highest level since 15 October 2008. At the day's low of 10,800.84, the Sensex fell 3.02 points in early trade.
The S&P CNX Nifty was up 24.90 points or 0.75% at 3366.95.
The BSE Mid-Cap index was up 3.17% and the BSE Small-Cap index was up 3.92%. Both the indices outperformed the Sensex.
The market breadth was strong. On BSE, 2060 shares rose as compared to 517 that declined. A total of 63 shares were unchanged.
The BSE reported a turnover of Rs 5398 crore, lower than Rs 5932.83 on Thursday, 9 April 2009.
The stock market remains closed tomorrow, 14 April 2009, on account of Dr. Ambedkar Jayanti.
Asian markets surged today, 13 April 2009 after Japanese prime minister Taro Aso more than doubled stimulus spending and Chinese lending rose by a record. Key benchmark indices in China, Singapore, South Korea and Taiwan were up by between 0.17% and 2.95%. Indonesia's Jakarta Composite Index surged 4.61% after elections boosted the position of the country's president. However, the Nikkei 225 average was down 0.44%.
On 10 April 2009, Japan's Aso unveiled a record 15.4 billion yen ($153 billion) stimulus plan, his third since taking office and bringing total spending to 25 trillion yen. The proposal includes a 1.6 trillion yen investment in low-carbon technology, 1.9 trillion yen on employment measures and 370 billion yen for subsidies of new car purchases.
China's banks, which are mostly state-owned, have already met the bulk of the government's target of at least 5 trillion yuan of new loans this year. The People's Bank of China said the government's stimulus package is showing initial results and it will continue to ensure sufficient liquidity after new loans surged sixfold to a record in March 2009.
Several Asia-Pacific markets including Hong Kong, Thailand, New Zealand and Australia were are shut today, 13 April 2009 for Easter Monday. European markets were also closed for Easter Monday
Trading in US index futures showed the Dow could fell 33 points at the opening bell on Monday, 13 April 2009
US markets jumped on Thursday, 9 April 2009 after Wells Fargo said it expects to report a record quarterly profit, fueling a month-long rally prompted by hopes that deterioration in the financial sector was abating. The Dow Jones Industrial Average rose 246.27 points, or 3.14%, to 8,083.38, the Standard & Poor's 500 Index gained 31.40 points, or 3.81%, to 856.56 and the Nasdaq Composite Index climbed 61.88 points, or 3.89%, to 1,652.54.
US President Barack Obama said on 10 April 2009, the US economy is starting to see progress toward recovery. He cited a 20% increase in government-backed loans to small business in the past month as one sign the economy is on the rebound.
Closer home, the market sentiment was firm due to resumption of buying by foreign funds in the past few days. According to provisional data on NSE, foreign institutional investors (FIIs) were net buyers worth Rs 170.92 crore on Thursday, 9 April 2009. Domestic institutional investors bought shares worth Rs 308.39 crore on Thursday, 9 April 2009.
India's largest private sector company by market capitalization and oil refiner Reliance Industries (RIL) rose 1.44%. The stock has a highest weightage of 17.63% on the Sensex. The company recently started pumping gas from the Krishna Godavari (KG) which is estimated to add close to $2 billion to the company's profit at peak production levels.
India's largest truck maker by sales Tata Motors rose 12.68% after its American depository receipt soared 15.06% to $7.64 on Thursday, 9 April 2009. Meanwhile, Tata Motors received a strong response for booking world's cheapest car 'Nano'.
State Bank of India alone is reported to have witnessed around 1.5 lakh bookings for Nano from its various branches on day one. Booking from Nano commenced on 9 April 2009. Tata reportedly expects to receive over six lakh applications during the booking period that ends on 25 April 2009.
World's sixth largest steel maker Tata Steel surged 7.77% on reports the company relied heavily on government-funded projects and the Railways in the face of a demand downturn to boost steel sales in Q4 March 2009. This indicates the company may declare good results Q4 March 2009 results.
India's largest private sector copper maker by sales Sterlite Industries jumped 6.83% after India's copper futures hit a new high today, 13 April 2009.
India's largest public sector bank by assets and branch network State Bank of India rose 6.63%. India's largest private sector bank by market capitalisation HDFC Bank rose 4.87%.
India's second largest software outsourcer by sales Infosys Technologies fell 1.05% on market talks that the IT bellwether may give a cautious outlook for the year ending March 2010 (FY 2010). The stock has a weightage of 8.98% on the Sensex.
Infosys will unveil its FY 2010 guidance at the time of unveiling Q4 March 2009 results on Wednesday, 15 April 2009. According to analysts, pricing pressure remains a major headwind for the IT sector as the global economy slows down.
Other software outsourcers also fell as the rupee firmed up against the dollar. Wipro lost down 2.30% and TCS fell 2%. The rupee firmed up against the dollar. The rupee was trading at 49.85 against the dollar, lower than Thursday's close of 50/50.02. A firm rupee affects operating profit of IT firms negatively as they earn most of their revenues from exports.
Among the other Sensex losers were Grasim Industries (down 2.58%), Ranbaxy Laboratories (down 1.80%), HDFC (down 1.65%), NTPC (down 1.62%), Hindustan Unilever (down 1.42%), and Bharti Airtel (down 1.35%).
Telecom software outsourcer Tech Mahindra soared 11.83% after the company won the bid for acquiring scam-hit IT firm Satyam Computer Services. As per reports Tech Mahindra bid for Satyam at Rs 58 per share, while Larsen & Toubro, the other player in the fray, bid at Rs 49.50 per share. Tech Mahindra would pay Rs 1,757 crore for a 31% stake in Satyam.
Satyam Computer Services rose 2.76%. Three months ago, Satyam's founder and chairman shocked investors by saying profits had been overstated for years, and put in doubt the survival of the company once ranked as India's fourth-largest software services exporter.
India's largest engineering and construction firm by revenue Larsen & Toubro (L&T) fell 1.07%. Larsen & Toubro plans to hold on to its stake in Satyam, its chief financial officer said in a television interview.
L&T had acquired 4% in Satyam at Rs 174 per share before Satyam's founder B Ramalinga Raju admitted on 7 January 2009 of a Rs 7,000-crore accounting fraud at the IT firm. L&T later had to hike its stake in Satyam to 12% as the initial cost of investment in Satyam was at risk after the Satyam stock tumbled hit by Raju's confession of the fraud on 7 January 2009.
LED display maker MIC Electronics hit upper circuit limit of 10%. On 6 April 2009, its chief said in a television interview that the company expects to do sales of Rs 450 crore in 2010 and profit is expected to be around Rs 100 crore.
India's largest listed retailer by sales Pantaloon Retail India jumped 8.04% ahead of its board meeting later today to decide on restructuring the company and changing its name. The board will decide on preferential issue of shares to the promoters and investors.
Drug maker Strides Arcolab rose 6.96% ahead of a board meet to consider various options of reorganizing the business of the company and its subsidiary companies.
India's biggest maker of wind-turbine generators by sales Suzlon Energy soared 11.66% after Tulsi Tanti, chairman of India's biggest maker of wind-turbine generators by sales, said the firm may return to profit in the quarter ended March 2009 after new orders boosted sales. Suzlon signed more than 300 megawatts of orders in the three months ended March 2009 from companies in Australia and China. The turbines will be supplied in the current quarter.
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