No Clear Signal Of Market - March 27, 2009

After a flat start, the benchmark indices are trading on highly volatile on account of profit bookings and sheer pressure of flat trading of other Asian markets. Lack of support from its Asian counterparts and cautious steps of investors before taking any fresh positions dragged Sensex down from a surprise gain of over 100 pts in its early trade. On a stock specific move, Tata Steel is trading up by 4.03% after it announced that it may partly roll back its recent production cut at UK subsidiary Corus, as there are some signs of a demand revival in Europe. During the last hour, selling pressure has emerged in IT, TECk and Realty stocks, whereas buying pressure has emerged across Metal, HC and Banking counters. Among the sectoral indices, the BSE IT and TECk indices are down by 1.88% and 0.80% respectively, while Metal and HC indices surged by 2.17% and 1.62% respectively. Overall the market breadth is positive as 1138 stocks are trading in green while 809 stocks are in red.

At 11.30 AM, the BSE Sensex down by 75.15 points at 9,927.94 whereas NSE Nifty declined by 13.09 points at 3,069.15. Opposite to that, the BSE Mid Cap and Small Cap are trading higher by 23.29 points and 17.65 points at 2,897.51 and 3,205 respectively.

Losers from the BSE Sensex Pack are Reliance Infrastructure down by (3%) to Rs. 547.35, along with Infosys Tech Ltd by (2.87%) to Rs. 1341, Wipro Ltd by (2.79%) at Rs. 247.5, TCS Ltd by (2.47%) at Rs. 543.4, HDFC Ltd by (2.07%) at Rs. 1619 and Maruti Suzuki by (1.96%) at Rs.756.

Losers from the NSE Nifty Pack are Reliance Infrastructure by (3.78%) at Rs. 542.9 along with Wipro Ltd by (3.27%) at Rs. 247.15, TCS Ltd by (2.87%) at Rs. 542.4, Infosys Tech Ltd by (2.77%) at Rs. 1,341 and Idea Cellular Ltd by (2.62%) at Rs. 50.15.

BSE IT is trading lower by (1.88%) or 44.44 points at 2,316.77. The major losers are Mphasis Ltd down by (4.13%) at Rs. 194.90 along with Wipro Ltd by (2.79%) at Rs. 247.5, Infosys Tec Ltd by (2.87%) at Rs. 1,341 followed by TCS by (2.47%) at Rs. 543.4.

BSE Metal is trading higher by (2.17%) or 126.43 points at 5,953.75. The top gainers in the index are JSW SL surged by (5.69%) to Rs.214.50 along with Tata Steel by (4.03%) to Rs. 213.05, Ispat Industries by (3.21%) to Rs. 11.26, SAIL by (2.97%) to Rs. 98.95, followed by Hindustan Zinc by (2.78%) at Rs. 448.

Markets Opened On A Flat Note- March 17, 2009

The markets today opened on a flat note after a sharp three day’s of continuous rally. However the markets are trading with negative bias on the back of mixed cues from the global markets. The Metal, Realty, Banking and Auto stocks are witnessing some buying momentum. However, the IT and Oil & Gas stocks edged lower. The BSE Mid Cap and the Small Cap index are however trading higher with a gain of around 1% each in the early trade.

India’s advance tax collections for the fourth quarter remained mixed. India''s advance tax collections till March 15, stood at Rs 2.82 lakh crore as against the budgeted Rs 3.95 lakh crore for FY09.

The Asian markets are trading higher today barring the Straits Times index, which is trading down by (0.70%). However, the Hang Seng, Nikkei 255 and Seoul Composite index are trading up by (0.57%), (2.04%) and (2%) respectively.

The US stock markets on Monday ended lower after four straight days of winning streak due to weakness among the technology space and rising concern over rising credit card defaults. American Express said the number of credit-card delinquencies rose in February. The Dow Jones Industrial Average (DJIA) slipped by 7.01 points to close at 7,216.97. The NASDAQ Composite (RIXF) index decreased by 27.48 points to close at 1,404.02 and the S&P 500 (SPX) fell by 2.66 points to close at 753.89.

The BSE Sensex is now trading below the 8,900 mark and the NSE Nifty trading below the 2,770 mark.

Mahindra & Mahindra reported the top gainer from the BSE Sensex pack, as it is trading higher by (2.66%) at Rs. 384 while TCS reported the top loser down by (4.10%) at Rs. 498.50.

The overall market breadth is positive as 777 stocks are advancing while 476 stocks are declining on BSE.

At 10.33AM, the BSE Sensex was down by 54.70 points at 8,888.84 and the Nifty was down by 15.55 points to 2,761.70.

The BSE Mid Cap increased by 7.88 points to 2,708.44 and the BSE Small Cap grew by 26.18 points to 3,024.67.

BSE Metal index is trading higher by 68.46 points or (1.38%) to trade at 5,035.90. The top gainers are Jindal Steel increased by (3.09%) to Rs.1,118.35, Jindal Saw up by (3.03%) to Rs.160, Gujarat NRE inclined by (2.22%) to Rs.18.45 followed by Tata Steel grew by (1.90%) to Rs. 172.05.

BSE Realty index advancing by 24.06 points or (1.62%) to trade at 1,507.97. The major gainers are Unitech inclined by (1.90%) to Rs. 26.80, Mahindra Life up by (1.17%) to Rs.112.10, Omaxe Ltd. increased by (0.83%) to Rs.42.75 followed by Ansal Infra up by (0.63%) to Rs.24.10.

Markets Opened With Marginal Gains- March 16, 2009

The markets today opened with marginal gains on the back of firm global cues. But suddenly the markets turned volatile and slipped from the early session high as selling pressure emerged among the selective scrips mainly led by the IT, Metal, Power and Phama stocks. However, the Consumer Durables, Capital Goods and Banking stocks are trading higher in the opening trade. The BSE Mid Cap and the Small Cap index are however trading with a gain of more than 0.5% each.

The Asian markets are trading higher today barring the Straits Times index, which is trading down by (1.27%). However, the Hang Seng, Nikkei 255 and Seoul Composite index are trading up by (0.96%), (2.09%) and (0.05%) respectively.

The US stock markets on Friday ended higher for the fourth consecutive day mainly led by the financial stocks. The healthcare stocks spurred after a series of merger and acquisition activity. On the economic front, the January trade balance showed a deficit of $36 billion better than the expected $38 billion. The Dow Jones Industrial Average (DJIA) advanced by 53.92 points to close at 7,223.98. The NASDAQ Composite (RIXF) index increased by 5.40 points to close at 1,431.50 and the S&P 500 (SPX) grew by 5.81 points to close at 756.55.

The BSE Sensex is now trading above the 8,750 mark and the NSE Nifty trading above the 2,700 mark.

Jai Prakash Associate reported the top gainer from the BSE Sensex pack, as it is trading higher by (4.72%) at Rs. 74.25 while Grasim Industries reported the top loser down by (2.30%) at Rs. 1,458.95.

The overall market breadth is positive as 890 stocks are advancing while 510 stocks are declining on BSE.

At 10.33AM, the BSE Sensex was down by 1.41 points at 8,755.20 and the Nifty was marginally down by 0.20 points to 2,719.05.

The BSE Mid Cap increased by 19.26 points to 2,659.62 and the BSE Small Cap grew by 15.04 points to 2,949.10.

BSE Bank index is trading higher by 64.40 points or (1.62%) to trade at 4,038.25. The top gainers are IDBI Bank increased by (3.27%) to Rs.44.25, Canara Bank up by (2.72%) to Rs.153, PNB inclined by (2.56%) to Rs.345 followed by AXIS Bank grew by (2.16%) to Rs. 337.70.

BSE Realty index advancing by 32.48 points or (2.31%) to trade at 1,441.04. The major gainers are Omaxe Ltd. inclined by (3.04%) to Rs. 42.35, DLF up by (2.72%) to Rs.156.70, Sobha Developers increased by (2.53%) to Rs.79 followed by HDIL up by (2.13%) to Rs.69.60.

Tata Motors is trading higher by (2.47%) at Rs. 165.70. The company launches new Safari variant, i.e the new Gx variant. The current Safari DICOR range comprises three variants: Lx, Ex and Vx.

PNB is trading higher by (2.33%) at Rs.344.20. The life insurer LIC of India is likely to sign a bancassurance agreement with Punjan National Bank. This would allow the bank to sell LIC’s products through its branch network across the country.

Markets Opened Significantly Higher- March 12, 2009

The markets today opened with a significant gap up after two days of holiday session. The Asian markets are also trading lower amid renewed worries about the economy. The rally was witnessed among the IT, FMCG, Oil & Gas, Banking and Metal stocks. All the sectorial indices are trading in green in the early trade. The BSE Mid Cap and the Small Cap index also joined the rally today in the early trade.

Further the markets are eyeing over the key January IIP data and inflation data, which are to be revealed by noon.

The Asian markets are trading lower today as Hang Seng, Nikkei 255, Straits Times and Seoul Composite index are trading lower by (0.48%), (1.93%), (1.35%) and (1.54%) respectively. Japan, the world’s second largest economy shrank at the fastest pace in 34 years in the fourth quarter of 2008. According to the revised data, Japan’s economy contracts 3.2% from the previous quarter mainly due to the sharp fall in exports. Further the country’s factory output and exports plunged by records in January. Exports were down 13.8% in the October-December quarter.

The US stock markets on Wednesday ended marginally higher with the financial stocks rallied on he back of the announcement by Citigroup that it will report profit in early 2009 followed by the announcement by JP Morgan Chase that the bank was profitable in the first two months of the year. The Dow Jones Industrial Average (DJIA) advanced by 3.91 points to close at 6,930.40. The NASDAQ Composite (RIXF) index increased by 13.36 points to close at 1,371.64 and the S&P 500 (SPX) grew by 1.76 points to close at 721.36.

The BSE Sensex is now trading above the 8,250 mark and the NSE Nifty trading above the 2,600 mark.

ICICI Bank reported the top gainer from the BSE Sensex pack, as it is trading higher by (4.96%) at Rs. 276 while Bharti Airtel reported the top loser down by (2.73%) at Rs. 571.70.

The overall market breadth is positive as 795 stocks are advancing while 348 stocks are declining on BSE.

At 10.33AM, the BSE Sensex was up by 128.78 points at 8,289.18 and the Nifty was up by 35.20 points to 2,606.10.

The BSE Mid Cap increased by 15.87 points to 2,569.36 and the BSE Small Cap grew by 19.10 points to 2,885.78.

BSE Bank index is trading higher by 116.71 points or (3.21%) to trade at 3,749.94. The top gainers are ICICI Bank increased by (5.40%) to Rs.277.15, Indus Ind Bank up by (4.05%) to Rs.29.55, AXIS Bank inclined by (3.28%) to Rs.290.10 followed by PNB grew by (3.49%) to Rs. 314.35.

BSE IT index is trading higher by 60.99 points or (3.01%) to trade at 2,086.28. The major gainers are Financial Technologies inclined by (4.90%) to Rs. 469.60, Tech Mahindra up by (3.10%) to Rs.271.20, Infosys Technologies increased by (2.97%) to Rs.1,232.30 followed by TCS up by (2.96%) to Rs.476.10.

Wipro is trading higher by (2.67%) at Rs. 211.80. The company’s subsidiary Infocrossing has entered into a five-year contract with CSG Systems International, to provide IT and infrastructure services delivery.

Firm Global Cues Lift Market Sentiments- Feb 25, 2009

After a smart opening, the key benchmark indices are continuing to trade with a positive trend. On the domestic front, acting finance minister Mr Pranab Mukharjee''s booster dose of third stimulus package along with tax relieves to dent the slowing economy also helped investors to take fresh positions. However, this would result a substantial loss of revenue on the collection of indirect tax to the tune of Rs 30k crore. Among the sectoral indices, the BSE Metal index is up by 2.63% and the BSE Auto index has gained 2.32%. The IT index on the BSE has also surged by more than 2%. Overall the market sentiment is positive as 1193 stocks are trading in positive terrain while 568 stocks are in negative.

At 11.30 AM, the BSE Sensex up by 134.88 points at 8,956.94 and NSE Nifty surged by 42.55 points at 2,776.45. The BSE Mid Cap and Small Cap are trading higher by 42.42 points and 44.7 points at 2,784.88 and 3,160.81 respectively.

Gainers from the BSE Sensex Pack are Mahindra & Mahindra surged by (6.74%) to Rs. 315, along with Hindalco Industries by (5.37%) to Rs. 41.2, Tata Motors by (5.03%) at Rs. 138.75, Reliance Infrastructure by (4.31%) at Rs. 510.25, Jaiprakash Associates by (3.30%) at Rs. 68.85 and Tata Steel by (3.21%) at Rs. 165.7.

Gainers from the NSE Nifty Pack are Mahindra & Mahindra up by (6.10%) at Rs. 313.95 along with Hindalco Industries by (4.87%) at Rs. 40.9, Tata Motors by (4.84%) at Rs. 138.5, Reliance Infrastructure by (4.76%) at Rs. 512.55, Suzlon Energy by (4.59%) at Rs. 42.15 and HCL Tech by (4.07%) at Rs. 104.8.

BSE Metal is trading on positive notes with the hike of (2.63%) or 120.68 points at 4,704.75. The top gainers in the index are Hindalco Industries by (5.37%) to Rs. 41.2, along with Jindal Steel by (3.66%) to Rs. 1,018.05, JSW SL by (3.66%) to Rs. 191, National Alum Co by (3.66%) to Rs. 205.40 followed by SAIL by (2.89%) at Rs. 78.25.

Global Cues Dragging Market Lower- Feb 24, 2009

The benchmark indices are trading lower on account of heavy losses in Asian Markets incurred due to fresh worries over the global financial system and economy. Lack of specific news in the domestic arena has also added fuel to the negative sentiments of investors across all the sectors. Most of the sectors are trading in red terrain with BSE Metal and Realty sectors leading the laggards list after declining 2.93% and 2.89% respectively. Overall the sentiments remained negative as 1312 stocks are in negative, whereas only 406 stocks are trading with positive bias.

At 11.30 AM, the BSE Sensex down by 153.31 points at 8,689.9 and NSE Nifty declined by 35.7 points at 2,700.75. The BSE Mid Cap and Small Cap are trading lower by 55.29 points and 57.36 points at 2,736.42 and 3,103.23 respectively.

Losers from the BSE Sensex Pack are Housing Development Finance Corporation Ltd by (4.70%) to Rs. 1290, along with Tata Steel by (4.49%) to Rs. 160.5, Reliance Infrastructure by (3.83%) to Rs. 472.5, Jaiprakash Associates by (3.73%) to Rs. 64.5, ICICI Bank by (3.65%) at Rs.323.7 and Sterlite Indus by (3.48%) at Rs.239.75.

Losers from the NSE Nifty Pack are PNB by (4.87%) at Rs. 345 along with Tata Steel by (4.70%) at Rs. 160.2, Housing Development Finance Corporation Ltd by (4.54%) at Rs. 1291, SAIL by (4.34%) at Rs. 76.1, ICICI Bank by (3.62%) at Rs. 323.7 and ABB Ltd by (3.51%) at Rs.385.4.

BSE Metal is trading down by (2.93%) or 137.70 points at 4,554.77. The top losers in the index are Tata Steel down by (4.49%) to Rs. 160.5 along with JSW SL by (4.39%) to Rs. 188.50, welsp Guj SR by (4.32%) to Rs. 62, SAIL by (4.16%) to Rs. 76.10, Sterlite Indus by (3.48%) at Rs.239.75, Gujarat NRE by (3.06%) to Rs. 20.60.

BSE Realty is trading lower by (2.89%) or 42.01 points at 1,411.72. The major losers are Mahindra Life trading down by (5.01%) at Rs. 98.50, along with Parsavnath by (4.36%) at Rs. 35.10, Housing Dev by (4.33%) at Rs. 74.05, Ansal Infra by (4.19%) at Rs. 24, followed by Omaxe Ltd by (4.07%) to Rs.42.45

Markets Open Higher On Positive Global Cues - Feb 13, 2009

The markets today open higher with significant gains of the back of positive cues from the global markets. Railway Minister Lalu Prasad Yadav today is going to present the interim railway budget. There are expectations of more fare cuts and adding of more new trains in order to keep voters on track. Further there are expectations that the Government will add on more stimulus measures to accelerate economic growth during the vote-on-account on Monday. These all expectations have kept sentiments upbeat.

All the sectorial indices are trading in green in the opening trade. The Realty, Metal, Power, Capital Goods and Banking stocks are on the buyer’s ride today. The broader markets also joined the rally today and are trading with a gain of more than 1%.

The Asian markets are trading higher today with Hang Seng, Shanghai Composite, Nikkei 225, Seoul Composite and Straits Times index are trading higher by (1.78%), (1.57%), (1.84%), (0.62%) and (1.06%) respectively.

The US stock market on Thursday bounced back late in the session and closed in mixed on the back of a report that the U.S. government is considering a new plan to subsidize mortgage payments for homeowners, helping troubled banks such as Bank of America and Citigroup pare their losses. Further some better than expected economic reports and earnings results also led the markets to rally in the last hour of trading. The Dow Jones Industrial Average (DJIA) dropped by 6.77 points to close at 7,932.76. The NASDAQ Composite (RIXF) index increased by 11.21 points to close at 1,541.71 and the S&P 500 (SPX) grew by 1.45 points to close at 835.19.

The BSE Sensex is now trading above the 9,600 mark and the NSE Nifty trading above the 2,930 mark.

Jai Prakash Associate reported the top gainer from the BSE Sensex pack, as it is trading higher by (3.56%) at Rs. 75.65 while Sun Pharma the top loser down by (0.68%) at Rs. 1,098.

The overall market breadth is positive as 913 stocks are advancing while 305 stocks are declining on BSE.

At 10.30AM, the BSE Sensex was up by 146.36 points at 9,612.19 and the Nifty was up by 48.25 points to 2,941.30.

The BSE Mid Cap increased by 41.51 points to 3,009.63 and the BSE Small Cap grew by 44.70 points to 3,419.99.

BSE Realty index is trading higher by 34.69 points or (2.23%) to trade at 1,591.38. The top gainers are Mahindra Life increased by (2.72%) to Rs.126.65, India Bull Real up by (2.71%) to Rs.110, HDIL inclined by (2.33%) to Rs.87.90 followed by Unitech grew by (2.25%) to Rs. 31.80.

BSE Metal index is trading higher by 94.25 points or (1.83%) to trade at 5,232.58. The major gainers are SAIL inclined by (3.06%) to Rs. 90.30, JSW Steel up by (2.86%) to Rs.231.75, NALCO increased by (2.34%) to Rs.201.40 followed by Tata Steel grew by (2.26%) to Rs.189.65.

Siemens is trading higher by (2.74%) at Rs. 232.50. The company has received a Rs. 212 crore order from Steel Authority of India Ltd (SAIL) to provide a power distribution package at the Rourkela Steel Plant (RSP) in Orissa. The order includes designing, engineering, supply, civil work, erection, testing and commissioning of transmission lines and substations.

Downtrend Continues: Eyes On IIP And Inflation Data - Feb 12, 2009

Tracking the cues from global markets, the benchmark indices are trading into red territory. After losses in Asian markets due to murky global economic outlook, the Indian market also trading with negative bias. However, investors are early waiting for announcement of IIP and inflation data which can provide support for near term. During last hour, buying interest has emerged in realty and CD stocks, whereas selling pressure is seen across IT, TECk and Metal counters. Among the sectoral indices, the BSE realty index is up by 2.54%. On the other hand, the IT index on the BSE has shed by 1.85% and the TECk index is down by 1.16%. The BSE metal index has slipped by 1.15%. Overall the market breadth is negative as 1020 stocks are trading in green while 660 stocks are in red.

At 11.30 AM, the BSE Sensex down by 102.88 points at 9,515.66 and NSE Nifty declined by 20.89 points at 2,905. The BSE Mid Cap and Small Cap are trading higher by 25.26 points and 46.11 points at 2,991.23 and 3,398.84 respectively.

Losers from the BSE Sensex Pack are Infosys Tech down by (2.50%) to Rs. 1270, along with Ranbaxy Ltd by (2.40%) to Rs.215.9, Sterlite Ind by (2.03%) at Rs. 268.5, Maruti Suzuki Ltd by (1.75%) at Rs. 621.5, ICICI Bank by (1.72%) at Rs.427.9 and Bharti Airtel by (1.59%) at Rs.663.5.

Losers from the NSE Nifty Pack are Infosys Tech by (2.52%) at Rs.1269.05 along with Tata Communication by (2.47%) at Rs. 429.8, Ranbaxy Ltd by (2.35%) at Rs. 215.95, Sterlite Indu by (2.12%) at Rs. 268.25 and ICICI Bank by (2.09%) at Rs.426.1.

BSE IT is trading lower by (1.85%) or 41.15 points at 2,184.58. The major losers are Patni Computer trading down by (2.53%) at Rs. 110, along with Infosys Tech by (2.50%) to Rs. 1270, Aptech by (2.33%) at Rs.85.80, TCS Ltd by (1.11%) at Rs. 508.35, followed by Wipro Ltd by (0.90%) to Rs. 219.95.

BSE Realty is trading higher by (2.54%) or 39.01 points at 1,575.66. The top gainers in the index are Ansal Infras inclined by (6.68%) to Rs. 31.15 along with DLF Ltd by (5.24%) to Rs. 158.75, Anant Raj Ind by (4.99%) to Rs. 52.65, Orbit Co by (4.44%) to Rs. 56.45 followed by Penland Ltd by (4.21%) at Rs. 22.30.

Investors Turned To Book Profit - Jan 22, 2009

After a positive opening of the Indian benchmark indices due to overnight rally on US and most of the Asian markets, the investors turned to book profit. Despite an encouraging third quarter earnings announced by Bharti Airtel today, the investors are looking cautious ahead of quarter earnings to be announced by the country’s most valuable listed company Relinace Industries. Besides, the announcement of inflation data is also expected to drive the sentiment of the market for the day. Among the sectoral indices, Bankex, TECk and Oil & Gas surged by 1.12%, 0.94% and 0.55% respectively. Overall the market breadth is positive as 699 stocks are trading in green while 1024 stocks are in red.

At 11.30 AM, the BSE Sensex up by 47.82 points at 8,827 while NSE Nifty increased by 6.9 points at 2,713.05. The BSE Mid Cap and BSE Small Cap are trading lower by 31.01 points and 30.69 points at 2,925.49 and 3,341.95 respectively.

Gainers from the BSE Sensex Pack are Bharti Airtel up by (3.93%) to Rs.606.55, along with ICICI Bank by (2.68%) to Rs.378.9, Jai Prakash Associate by (2.30%) at Rs.66.65, ACC Ltd by (2.09%) at Rs.488.1, Sterlite industries by (2%) to Rs.242 and Grasim Industries by (1.40%) at Rs.1157.4.

Gainers from the NSE Nifty Pack are Bharti Airtel up by (4.21%) at Rs.607.6 along with Cairn India by (2.80%) at Rs.154.25, HCL Technologies by (2.55%) at Rs.118.7, ACC Ltd by (2.38%) at Rs.489 and Idea Cellular by (2.38%) at Rs.43.05.

BSE Bankex is trading higher by (1.12%) or 52.25 points at 4,697.19. The top gainers in the index are Bank of India up by (2.89%) to Rs.247.15 along with ICICI Bank by (2.68%) to Rs.378.90, Yes Bank by (2.42%) to Rs.69.75, Indus Ind Bank by (1.53%) to Rs.36.45 followed by Axis Bank by (0.80%) at Rs.411.20.

BSE TECk is trading higher by (0.94%) or 16.13 points at 1,733.47. The major gainers are Tanla Solution trading higher by (6.44%) at Rs.39.65, along with Bharti Airtel by (3.93%) at Rs.606.55, HCL Techno by (3.35%) at Rs.118.65, Jagaran Prak by (2.93%) at Rs 51, Aptech Ltd by (2.39%) at Rs 72.70 and Idea Cell by (2.38%) at Rs 43.10.

Asian Markets Are Also Trading Mixed - Nov 28, 2008

The markets today open lower on the back of terrorist attack in Mumbai. But suddenly the market turned choppy due to the expiry of the November 2008 derivate contracts today. The settlement of the November series was supposed to be expiring yesterday but it was been postponed due to the terror strike in Mumbai. The selective buying is seen among the IT and Oil & Gas stocks. However, the Pharma, Realty, Power, Capital Goods and Metal stocks are trading lower in the opening trade.

The BSE Sensex is now trading above the 9,000 mark and the NSE Nifty is trading above the 2,700 mark.

The Asian markets are also trading mixed as Hang Seng, Nikkei and Seoul Composite index are trading higher by (2.21%), (1.33%) and (1.60%) respectively. However, the Shanghai Composite, Straits Times and KLSE Composite index are trading lower by (1.24%), (0.69%) and (0.44%).

The US stock market was closed on Thursday for the observance of Thanksgiving holiday. Markets will reopen on Friday for a half day.

At 10.33AM, the BSE Sensex was down by 8.10 points at 9,018.62 and the Nifty was down by 9.85 points to 2,742.40.

The BSE Mid Cap decreased by 32.70 points to 2,844.68 and the BSE Small Cap slipped by 16.77 points to 3,298.12.

BSE IT index is trading higher by 24.71 points or (1%) to trade at 2,493.16. The top gainers are Tech Mahindra increased by (2.12%) to Rs.226.90, Patni Computer up by (1.12%) to Rs.126.50, Satyam Computer inclined by (0.97%) to Rs.239.15 followed by Infosys Technologies grew by (0.96%) to Rs. 1,198.65.

BSE Realty index is trading lower by 37.73 points or (2.39%) to trade at 1,538.54. The major losers are Ansal Infra declined by (4.73%) to Rs. 25.20, HDIL down by (2.99%) to Rs.74.70, Sobha Developers decreased by (2.87%) to Rs.86.20 followed by India Bull Real fell by (2.05%) to Rs.90.90.

The shares of major hotels plunged due to the terror attack in Mumbai, as terrorist attacked major Hotels like Taj and Oberoi. Indian Hotels fell 13% and EIH lost 7%. Taj GVK plunged 10%.

Asian Markets Subdued Nikkei Up 130pts - Oct 18, 2008

Asian markets are rather subdued this morning when compared to the recent wild swings seen in the markets.

The Hang Seng has slipped 119 points to 15,112. The Nikkei has gained 130 points at 8,588.

The Taiwan Weighted index has shed 101 points at 4,975. The Straits Times index is down six points at 1,946, and the Seoul Composite index has declined 14 points to 1,120.

The Shanghai Composite index is flat at 1,910.

Asian Markets Continue Slide On The Back Of Weak Cues - Oct 11, 2008

Asian markets continue to slide on the back of weak cues from the US markets and liquidity crunch as fears of a deeper US recession worries investors worldwide.

The Hang Seng has tanked 1,304 points (8.2%) at 14,640. The Nikkei has crashed 974 points (10.6%) at 8,183.

The Taiwan Weighted index has slipped 76 points (1.5%) to 5,131. The Straits Times index has tumbled 150 points (7.1%) to 1,953, and the Seoul Composite index has cracked 98 points (7.6%) at 1,197.

The Shanghai Composite index has shed 89 points (4.3%) at 1,986.

Asian Markets Are Also Trading Lower - Oct 3, 2008

The markets today opened lower tracking weak global cues. The selling pressure witnessed among the Metal, IT, Oil & Gas and Realty stocks. However, the Capital Goods, FMCG and Power stocks are trading higher in the opening trade.

On the Global market front, the Asian markets are also trading lower with Nikkei 225 index down by 1.29% and Hang Seng index down by 2.56%.

Thursday, the US stock market closed in deep red due to the sharp rise in the jobless claims and plunging factory orders has led to some fear about the recession and concern whether the revised version of the $700 billion asset purchase plan will find favor in the U.S. House of Representatives after being approved by the Senate. The Dow Jones Industrial Average (DJIA) dropped by 348.22 points to close at 10,482.85. The S&P 500 (SPX) index decreased by 46.78 points to close at 1,114.28 and the NASDAQ Composite (RIXF) fell 92.68 points to close at 1,976.72.

The BSE Sensex is now trading below the 12900 level and the NSE Nifty below the 3900 mark in the opening trade.

The BSE Mid Cap and the BSE Small Cap stocks are however trading flat in the early trade.

The overall market breadth is negative as 661 stocks are advancing whereas 890 stocks are declining on BSE.

Ranbaxy Lab reported the top gainer from the BSE Sensex pack, as it is trading with a gain of (5.48%) at Rs.265.50 while Sterlite Industries reported the top loser down by (6.85%) at Rs.400.50.

At 10.30AM, the BSE Sensex was down by 186.89 points at 12,868.78 and the Nifty was down by 51.90 points to 3,898.85.

The BSE Mid Cap decreased by 29.02 points to 4,795.14 and the BSE Small Cap slipped by 22.85 points to 5,583.95.

BSE Capital Goods index advanced by 127.62 points or (1.20%) to trade at 10,720.53. The top gainers are Gammon India increased by (3.52%) to Rs.151.65, Siemens up by (2.66%) to Rs.411.10, BHEL inclined by (2.14%) to Rs.1,625 followed by ABB grew by (1.47%) to Rs.802.75.

BSE Metal index slipped by 310.70 points or (3.43%) to trade at 8,740.95. The major losers are Sterlite Industries, JSW Steel, Jindal Steel and SAIL grew by (6.73%), (6.85%), (5.92%) and (5.19%) to Rs.400.50, Rs.423.50, Rs.1,222 and Rs.117 respectively.

HCL Technologies is trading higher by (2.04%) at Rs.210. The UK based SAP consultancy Axon Group on Thursday has recommended HCL Technolohies’ £441.1 million buyout offer o its shareholders, turned its back on a takeover by Infosys Technologies of £407 million offer.

Asian Markets Plunged Due To Questions - Sep 29, 2008

Indian market continues to slide further on global slowdown concerns. Domestic market opened lower as Asian markets plunged due to questions on the effectiveness of the US bailout package. BSE Sensex slipped below 13,000 mark first time since 17th July 2008 and now trading below 13,700 along with NSE Nifty trading below 3,900 level. All indices are trading in red and among those, major contributors to the selling pressure are Bank, Metal, Capital Goods, Reality, Consumer Durables and IT stocks. BSE Mid Cap and Small Cap stocks are also out of favor as trading with deep cut of more than 4%. Among the Sensex pack, 29 stocks are trading in red and only 1 is in green.

At 1.31PM, the BSE Sensex is trading lower by 467.02 points at 12,635 and NSE Nifty is down by 129 points at 3,856.

The BSE Mid Cap and Small cap are trading lower by 224 points and 292 points at 4,716.56 and 5,569.72 respectively.

Losers from the BSE are ICICI Bank Ltd down by (11.68%) at Rs495.70 along with JP Associates (11.19%) at Rs107.50, DLF Ltd (8.25%) at Rs339.00, Ranbaxy Lab (7.23%) at Rs252.70, Satyam Computer (6.94%) at Rs299.60, Tata Motors (5.33%) at Rs353.40 and TCS Ltd by (4.73%) at Rs644.45.

Only gainer from the BSE is HUL trading up by (1.86%) at Rs257.20.

The BSE Capital Goods index is trading lower by 453.46 points at Rs10,341.73. Major losers are Walchand In (10.22%) at Rs207.30 followed by Jyoti Struct (10.16%) at Rs88.00, Usha Martin by (9.65%) at Rs51.00, Reliance industrial Infra (8.84%) at Rs594.05 and Suzlon Energy by (8.84%) at Rs594.05.

The BSE Bank index is losing 435.60 points at Rs6,134.94. Scrips trading lower are ICICI Bank Ltd (11.68%) at Rs495.70 followed by IOB by (10.86%) at Rs87.40, Oriental Bank of Commerce (10.12%) at Rs143.50, Union Bank (6.98%) at Rs133.90 and Yes Bank by (6.86at Rs116.00.

The BSE Metal index is trading down by 363.98 points at Rs9,138.11 as Welspan Gujarat Sr is trading lower by (9.96%) at Rs221.05 along with Jindal Saw (8.87%) at Rs558.40, JSW SL (7.69%) at Rs527.90, Sterlite Indus by (5.03%) at Rs456.00 and Tata Steel (4.55%) at Rs361.80.

From the telecommunication sector, Idea Cellular is trading lower by (5.58%) at Rs73.60 along with Reliance Com Ltd is trading down by (3.27%) at Rs335.50, Bharti Airtel by (3.20%) at Rs751.20 and Tata Communications by (0.13%) at Rs470.25.

In auto sector Hero Honda Motors is higher by (0.65%) at Rs855.00. However, Tata Motors is down by (5.51%) at Rs253.90, Maruti Suzuki lower by (3.39%) at Rs660.85 and M&M Ltd by (2.90%) at Rs516.20.

From cement sector by Ambuja Cements is trading down by (5.15%) at Rs78.20, followed by ACC Ltd trading lower by (3.94%) at Rs589.50 and Grasim Indus is down by (2.56%) at Rs1,715.00.

ICICI Bank is trading down by (11.68%) at Rs495.70 as bank crashes due to losses on exposure. The fall of the Lehman Brothers has caused ICICI Bank a MTM loss of Rs.309cr. As per the company sources the London subsidiary of ICICI Bank had $80 million exposure in the senior bonds of Lehman Brothers. However, the investment by the subsidiary constitutes less than1% of the total assets of the subsidiary and less than 0.1% of the consolidated total assets of the ICICI Group. Though the bank''s losses in the US exposure are little as compared to its total business size, the investors are more apprehensive about the bank''s operations.

Asian Markets Continue Upmove; Nikkei Gains 236pts - Sep 27, 2008

Asian markets have began where they left last week and are mostly up this morning.

The Hang Seng is up 15 points at 19,343. The Nikkei has rallied 236 points to 12,157.

The Taiwan Weighted index has surged 100 points to 6,070. The Straits Times index is down four points at 2,555, and the Seoul Composite index is up six points at 1,461.

The Shanghai Composite index has soared 132 points to 2,207.

Markets Fall On Weak Asian Markets - Sep 11, 2008

Markets are showing weakness on negative Asian markets as financial sector worries emerged after a record loss of $3.9 bn for third quarter, reported by Lehman Brothers. Inflation data for the week ended 30th August 2008 is due to be announced after market hours today. Selling pressure has emerged across the board with Oil & Gas, Capital Goods, Reality, Metal, Consumer Durables and Power stocks leading the decline. The market breadth is negative as 1482 stocks are trading in red while 684 stocks are in green.

At 11.31AM, BSE Sensex is trading lower by 297.35 points at 14,365.26 and NSE Nifty is trading down by 98.14 at 4,302.10. The BSE Mid Cap and BSE Small Cap are trading lower by 48.50 points and 50.19 points at 5,660.43 and 6,853.22 respectively.

Losers from the NSE Nifty are HCL Tech down by (4.15%) at Rs238.90 along with DLF Ltd (4.00%) at Rs481.70, Suzlon Energy (3.65%) at Rs235.00, Zee Entertainment (3.48%) at Rs226.00, Reliance Infra (3.48%) at Rs998.95, Tata Power Co (3.02%) at Rs1,019.50 and ONGC by (2.99%) at Rs1,045.75.

The BSE Oil & Gas index is down 243.37 points at Rs9,424.01. Scrips trading lower are Reliance (3.11%) at Rs2,018.75 followed by HPCL by (2.99%) at Rs235.00, ONGC (2.84%) at Rs1,046.00, BPCL (2.24%) at Rs341.00 and Reliance Pet by (2.24%) at Rs155.04.

The BSE Capital Goods index is trading lower by 177.01 points at Rs12,056.09 as Suzlon Energy is trading down by (4.31%) at Rs233.30 along with Punj Lloyd (3.39%) at Rs290.55, Crompton Greaves (3.31%) at Rs251.55, Walchand In by (2.22%) at Rs277.90 and Usha Martin (2.02%) at Rs75.20.

The BSE Reality index is trading down by 121.03 points at Rs4,878.96 as Ansal Infra is trading lower by (6.70%) at Rs93.25 followed by Indiabull Real (4.37%) at Rs270.45, DLF Ltd (4.18%) at Rs481.00, Housing Development by (3.11%) at Rs287.05 and Omaxe Ltd (2.48%) at Rs124.00

Stocks To Watch On Wednesday - July 2, 2008

MUMBAI: Equities are likely to remain subdued on Wednesday tracking declines in Asian markets. Oil's climb above $143 a barrel, the weakening rupee and the country's trade deficit widening in May will continue to weigh on sentiment.

Among stocks, the telecom counters will witness some action after the communication and IT ministry finalised a reserve price of about RS 2,260 crore for telecom firms willing to participate in a pan-India auction for third generation spectrum in the upcoming policy. This is exactly double the reserve price recommended by the Telecom Regulatory Authority of India.

Technology shares are expected to continue their upward march as the rupee weakened further against the US dollar, inching towards a fresh 15-month low. In early deals Wednesday, the rupee was at 43.36/37 per dollar, a shade weaker than 43.34/36 on Tuesday. It briefly fell to a low of 43.50 on Tuesday, it weakest since April 2, 2007.

Cement stocks will see some movement following reports that prices in certain parts of India are likely to go up by Rs 3 per 50-kg bag due to high raw material and transportation costs.

Shares of Amtek Auto will see an upside on reports that the company is likely to buy Germany light metal castings maker, KSM Castings in a deal worth 250 million euros. The company's shares ended 1.7 per cent lower at Rs 231.70 on Tuesday.

DHL plans to introduce logistics products with its Indian partner Blue Dart Express in a bid to tap the nearly Rs 1,900 crore express logistics market in the SAARC nations. Shares of Bluedart Express ended unchanged at Rs 645 in Tuesday's trade.

Kingfisher Airlines plans to save at least Rs 600 crore by directly importing aviation turbine fuel through oil companies and will start the arrangement with Reliance Industries. Shares of UB Holdings, the parent company of the airline, ended 10 per cent lower at Rs 287 on Tuesday with the airline under severe pressure in the wake of rising oil prices.

Stocks To Watch On Wednesday - July 2, 2008

MUMBAI: Equities are likely to remain subdued on Wednesday tracking declines in Asian markets. Oil's climb above $143 a barrel, the weakening rupee and the country's trade deficit widening in May will continue to weigh on sentiment.

Among stocks, the telecom counters will witness some action after the communication and IT ministry finalised a reserve price of about RS 2,260 crore for telecom firms willing to participate in a pan-India auction for third generation spectrum in the upcoming policy. This is exactly double the reserve price recommended by the Telecom Regulatory Authority of India.

Technology shares are expected to continue their upward march as the rupee weakened further against the US dollar, inching towards a fresh 15-month low. In early deals Wednesday, the rupee was at 43.36/37 per dollar, a shade weaker than 43.34/36 on Tuesday. It briefly fell to a low of 43.50 on Tuesday, it weakest since April 2, 2007.

Cement stocks will see some movement following reports that prices in certain parts of India are likely to go up by Rs 3 per 50-kg bag due to high raw material and transportation costs.

Shares of Amtek Auto will see an upside on reports that the company is likely to buy Germany light metal castings maker, KSM Castings in a deal worth 250 million euros. The company's shares ended 1.7 per cent lower at Rs 231.70 on Tuesday.

DHL plans to introduce logistics products with its Indian partner Blue Dart Express in a bid to tap the nearly Rs 1,900 crore express logistics market in the SAARC nations. Shares of Bluedart Express ended unchanged at Rs 645 in Tuesday's trade.

Kingfisher Airlines plans to save at least Rs 600 crore by directly importing aviation turbine fuel through oil companies and will start the arrangement with Reliance Industries. Shares of UB Holdings, the parent company of the airline, ended 10 per cent lower at Rs 287 on Tuesday with the airline under severe pressure in the wake of rising oil prices.

Asian Markets Head for Worst Quarter in Over 5 Years

Asian markets were mostly lower Monday, heading for their worst quarterly performance in over five years, on persistent concerns about the global credit crunch and the impact of weakening U.S. consumer demand on the region's exports.

Oil prices, among the top performing asset classes so far this year, extended falls from the previous session after the restart of a crude pipeline system in Iraq eased concerns over supply.

A choppy U.S. dollar kept other commodity prices steady, following a quarter in which a slumping greenback has sent the prices of asset classes such as gold to record highs.

Tokyo's fell almost 2 percent, with investors locking in profits following last week's sharp gains and before a raft of key economic data. Financial shares were under selling pressure, with Japan's third-largest bank Mizuho Financial Group down over 3 percent, after their U.S. peers fell on concerns about potential dividend cuts. Trading house Marubeni plunged more than 6 percent after Lehman Brothers said it planned to sue Marubeni for repayment over a case of suspected fraud.

Japan's industrial output fell 1.2 percent in February from a month earlier, compared with a median market forecast for a 2.1 decline. Manufacturers' output, the core component of production, is expected to rise 2.0 percent in March but decrease 1.0 percent in April, data from the Ministry of Economy, Trade and Industry showed on Monday.

Seoul stocks were treading water, with gains in technology shares fueled by prospects of solid first-quarter earnings undermined by financials and automakers. Samsung Electronics, the world's largest memory chipmaker, gained on expectation that its earnings would be boosted by strong results in its liquid crystal display unit.

Australian shares were little changed as ongoing credit concerns pressured banks including Australia and New Zealand Banking Group, offsetting strength in top miner BHP Billiton. Centro Properties Group rose over 8 percent, adding to a 16.3 percent rise in the previous session, on optimism the debt-laden company would soon secure a deal with its creditors.

Hong Kong stocks tracked softer overseas markets, snapping four straight days of gains which saw the index rise more than 2,000 points. Solargiga Energy edged up slightly after a flat open as the Chinese solar wafer maker made its market debut.

Singapore's Straits Times Index was flat, but Olam International rose as much as 8.2 percent after the commodities firm said it plans to raise funds through a share sale.

China's Shanghai Composite Index was down over 2 percent, led by large caps, after rumors last week that the government would announce market-friendly steps, such as a cut in the stock stamp duty, were not followed up by concrete measures. Industrial and Commercial Bank of China, China's top lender, dropped 3 percent.

Asian Markets Tumble On US Recession Worries

SEOUL (SOUTH KOREA): Most Asian markets tumbled on Monday as investors reacted nervously to a steep decline on Wall Street on Friday after disappointing economic and corporate news reawakened worries about a US recession.

Japan's benchmark Nikkei 225 index plunged 4.5 per cent to close at 12,992.18. Markets in Hong Kong, South Korea, India and Australia also fell sharply. However, shares in mainland China advanced.

Investors across much of the region dumped shares after a series of depressing economic and corporate reports on Friday out of the United States a vital export market for Asia sent the Dow Jones industrial average falling 315.79, or 2.51 percent, to 12,266.39.

The bad news included poor quarterly results from American International Group Inc. and Dell Inc. and weaker-than-expected results on the Chicago purchasing managers index, which painted a dreary picture of the manufacturing sector.

``It's all due to fears of a recession in the US,'' said CommSec chief equities economist Craig James in Sydney, Australia.

The dollar's drop to a three-year low against the yen also weighed on sentiment in Tokyo as dollar weakness erodes overseas earnings at Japan's exporters.

The greenback fell as low as 102.92 yen, its lowest point since January 2005. By mid-afternoon in Tokyo, the dollar bought 103.17 yen, down from 103.96 yen late on Friday in New York. The euro also rose to US$1.5215 from US$1.5194.

Asian markets, which have fallen much of the year so far, had staged a modest recovery through the middle of last week, with Tokyo's Nikkei climbing to a seven-week high last Wednesday. But pessimism returned Monday, with Hong Kong's Hang Seng index down 3 percent at 23,614.50 in afternoon trading.

In Seoul, the Korea Composite Stock Price Index fell 2.3 percent to 1,671.73, Australia's benchmark S&P/ASX200 index slid 3 percent to 5,405.8.

India's Sensex extended losses, falling 3.3 percent to 16,992.57. Markets in China bucked the trend. The benchmark Shanghai Composite Index was up 2.3 percent at 4,446.25.

The Tokyo market, Asia's largest, would likely to remain volatile for the rest of the weeksaid Koji Takeuchi, senior economist at Mizuho Research Institute in Tokyo.