Sensex snaps 7-day rally; sheds 85 pts

Snapping a seven-day long rally, the Bombay Stock Exchange benchmark Sensex ended lower by 84 points on emergence of profit-booking amid the Reserve Bank increasing key policy rates.

The 30-share Sensex pared 135 points it gained during the day and closed 84.62 points lower at 19,417.49.

The broad-based National Stock Exchange index Nifty fell by 32.25 points at 5,828.70, after touching the day's high of 5,901.65 points. The Nifty crossed 5,900 points for the first time in 32 months.

In 30-BSE index components, 19 stocks fell and 10 gained, while ITC Ltd remained unchanged. Market leaders Reliance Industries and Infosys Technologies registered losses.

Reliance Industries fell by Rs 9.55 to Rs 1,000.90 and second-heaviest Infosys Technologies by Rs 82.35 to Rs 2,967.80. The two carry nearly 23 per cent weight on the Sensex.

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Sensex tumbles nearly 300 points on Wipro issue

Mumbai: The Bombay Stock Exchange benchmark Sensex on Monday tumbled nearly 300 points, the third time in a row, on aggressive selling by funds, weak opening in European stock markets, and the World Bank debarring more software companies, including Wipro, till 2011.

The Sensex, which had been falling in the last two trading sessions after the Satyam Computer fraud came to light, fell further by 296.42 points at 9,110.05. It touched the day's low of 9,024.45 and a high of 9,331.13 points.

The 50-share National Stock Exchange index Nifty fell 99.90 points at 2,773.10, after touching a low of 2,748.55.

Wipro, the third software producer and a component of the key index, fell 12 per cent soon after the World Bank barred the company from direct contracts until 2011, citing a conflict of interest.

The stock ended with a fall of Rs 23.30 at Rs 227.35. The market briefly pared losses after industrial output data were unexpectedly better for November, but there was little support forthcoming with many uncertainties clouding the outlook of corporate earnings by blue-chip companies.

Trading sentiment further weakened after the European stock markets commenced trading on a weak note, concerned about the quarterly earnings.

Satyam Computer, the fourth-largest software developer, which sparked selling two days ago on its confession of financial wrong-doing, rebounded after the government injected three new board members. The stock rose by Rs 10.55 at Rs 34.40.

Source: http://www.mid-day.com/news/2009/jan/120109-Sensex-tumbles-nearly-300-points-on-Wipro-issue.htm

Sensex sheds 303 points in choppy trade

MUMBAI: In see-saw trade, the Bombay Stock Exchange benchmark Sensex on Wednesday extended losses for the second day by losing another over 300
points on heavy selling in blue-ship stocks like RIL and ICICI Bank.

The 30-share barometer settled the day lower by 303.36 points, or 3.08%, at 9,536.33 after swinging wildly on alternate bouts of selling and buying. In two days it has shed nearly 1,000 points.

The bellwether index lost 280 points in early trade but it recovered sharply on encouraging numbers on industrial growth. It even seemed that the crucial 10,000 level is very well within the day's trade when the index touched the day's high of 9928.60 points.

However, by mid-session profit-booking emerged bringing the Sensex steeply lower. It even plunged to day's low of 9376.73 points before rising again to settle day at 9,536.33 points.

The broader Nifty of the National Stock Exchange also lost 90.20 points, or 3.07%, to close at 2,848.45 points.

Marketmen said sentiments were so weak that even 4.8% industrial growth in September, a reversal of abysmal performance in August, failed to revive buying support.

A fall in excise duty collection in October, coupled with a decline of 15% in country's exports in the same month have severely damaged sentiments.

Realty sector index suffered the the most by losing 7.34% at 2,046.64 as stocks of DLF Ltd fell by 8.61% at Rs 244,60, Indiabull Realty by 13.82% at Rs 112.60 and Unitech Ltd by 4.02% at Rs 49.

Reliance Industries, the heaviest among all Sensex-related stocks, also declined by 3.72%.

Soruce: http://timesofindia.indiatimes.com/Business/India_Business/Industrial_growth_at_48_in_September/articleshow/3703663.cms

Sensex at 10,683.39 at close

Date: 2008-10-21 Mumbai: Stock markets today rose for the second day in a row with the benchmark Sensex registering a gain of 460 points on heavy buying in consumer durables, realty and IT counters.

The BSE barometer closed the day at 10,683.39, higher by 460.30 points, or 4.5 per cent, from its last close.

The wide-based National Stock Exchange index Nifty also spurted by 112.10 points at 3234.90.

Marketmen said the sentiment was boosted by market regulator SEBI's remarks that it "disapproved" of overseas investors short-selling equities using offshore derivatives.

They said major players and general investors resorted to buying on expectations that the government might take more market friendly measures. Many also anticipate investor friendly measures by RBI in its monetary policy later this week.

A firming global trend in the backdrop of US officials moving towards a second fiscal stimulus package also played a part, they said.

Soruce: www.mid-day.com

Sensex at 10,223.09 at close

Date: 2008-10-20 Mumbai: The Bombay Stock Exchange benchmark Sensex today regained the vital 10,000 level with IT and banking stocks leading in attracting good buying support.

Cutting short the three-day losing spree that saw the bellwether index plunging below the 10,000 mark on Friday, the Sensex bounced back by 247.74 points at 10,223.09.

National Stock Exchange index Nifty also shot up by 48.45 points at 3,122.80.


Marketmen said investors judged the benchmark's three-day, 13 per cent drop as excessive and started buying at existing lower level. A firming trend in global stock markets was also an encouraging factor and helped pushing up share prices, they said.

Trading sentiment got a boost by mid-session after the Reserve Bank of India announced a cut in repo rate to benefit borrowers and investors. A reduction in repo rate is expected to result in cheaper credit.
Source: www.mid-day.com

Sensex closes by more than 227 points

The Bombay Stock Exchange benchmark Sensex today closed lower by more than 227 points, but managed to erase huge intra-day losses caused by negative cues from Asian and other markets.
The 30-share Sensex, which dipped by over 790 points to a more than 2-year low in intra-day trade, ended with a loss of 227.63 points at 10,581.49.
Similarly, the wide-based National Stock Exchange index Nifty declined by 69.10 points at 3,269.30.
The market remained weak following reports of more European governments offering blanket bank deposit guarantees, as regulators from Washington to Seoul scrambled to contain the fiancial crisis, brokers said.
Asian markets plummeted for the second day in a row, with key Japanese index Nikkei 225 reportedly falling over 11 per cent while Hong Kong's benchmark Hang Seng declined by 4.80 per cent to 15,230.20 points.
The marketmen added that a third cut of one per cent in cash reserve ratio by the Reserve Bank last night failed to influence trading sentiment this morning, as did lower inflation numbers released today.
However, later in the day, the market rebounded to prune early losses following reports of Europe emerging from lows and US stock futures indicating a higher opening.
The market recovered nearly 465 points during the day backed by surging realty, banking and FMCG stocks.
Source: www.mid-day.com

Sensex down 800 pts at closing

Mumbai: After tanking over 1,000 points in minutes after opening, the benchmark Sensex staged a moderate recovery but still closed lower by more than 800 points at 10,527.80, the lowest in more than two years, on sell-off spree which mirrored the panic among investors worldwide.
Even as the 30-share Sensex was recovering by mid- session on encouraging comments from Finance Minister P Chidambaram and reports of inflation declining against expectations, an abysmal performance in industrial growth pulled down the barometer again.
A moderate recovery in the key-index was backed by the RBI decision to cut CRR by one percent in addition to 50 basis points earlier this week.

The BSE barometer finally settled the day at 10,527.80, showing a loss of 800.51 points.

The key index had lost a whopping 1088points, or nearly 10 per cent, at the outset.

All the 13 sectoral indices, led by realty, capital goods and consumer durables, ended in deep red with falls of up to 11.30 per cent.

Similarly, the wide-based National Stock Exchange index Nifty in volatile movements, closed lower by 233.70, or 6.65 per cent, at 3,279.95, after touching the day's low of 3,198 points.

Marketmen said the steep fall in the beginning was triggered by weak global cues.

The selling pressure was further strengthened by weakening rupee which plummeted to its all-time low of 49.30 against a US dollar.

Later, particularly weak IIP data negated whatever positive sentiment emerged on a decline in inflation.

Realty segment stocks suffered the most, placing the sectoral index down by 11.30 per cent at 2523.07 followed by consumer durable index by 10.11 per cent at 2139.50.
Source: www.mid-day.com

Sensex reclaims 13k on IT, banking gains

MUMBAI: Indian stock market indices closed on a positive note after faltering in the initial stages. The recovery, led in turns by banking and IT stocks, saw the Sensex reclaim the 13,000 level and Nifty regain the 4000 mark, although briefly. The real estate sector continued to be under pressure, weighed down by heavy losses in Mahindra Lifespace, IndiaBulls Realestate, Orbit Corporation. At close, the BSE benchmark stood at 13,055.97, up 195.54 points or 1.52 per cent from Tuesday’s close. Intraday, the index moved from a low of 12,697.30 to touch a high of 13,203.86. BSE IT Index chalked up gains of 4.32 per cent to close at 3,228.66. The sector was led by Satyam Computer, Patni, and HCL Technologies, up over 7, 6, and 5 per cent, respectively. In banking, HDFC Bank, Bank of Baroda and IDBI Bank were frontrunners. The Bankex ended the day gaining 3.29 per cent. On NSE, the Nifty settled at 3951.75, up 30.55 points or 0.78 per cent from the previous close. The broader index scaled 4000.50 after falling to 3861.25 early in the day. The bounce was on the back of a rise in Europe and Asia as investors hoped the US Senate will push through the $700 billion plan to rescue its banks. MSCI World Index added 0.7 percent to 1,190.71. U.K.'s FTSE 100 added 1.4 percent on gains in Barclays and BHP Billiton. Germany's DAX fell 0.2 percent and France's CAC 40 advanced 0.4 percent. Europe's Dow Jones Stoxx 600 Index rose 0.5 percent, and the MSCI Asia Pacific Index increased 1.8 percent. The stock markets of China, Hong Kong, Indonesia, the Philippines, Malaysia and Singapore were shut for holidays today.

Source; http://timesofindia.indiatimes.com/Business/Sensex_reclaims_13k_on_IT_banks_gain/articleshow/3549809.cms#