Bears overtook the Bulls during the week of trade. Markets are unable to follow the trend of the Global markets this time though. Sensex closed at 12430.40 (-113.45) while Nifty closed at 3608.55 (-35.05)
USD/INR is at 44.12
Add commentMarch 16th, 2007
Markets continued to loose few more points. NIFTY is currently at 3614.50 (-0.92%)
Banking stocks continued to loose their stream. Of the 12-stock Bank Nifty, 11 are declining with only 1 stock is advancing.
Major banking stock losers so far are UTI Bank (-2%), HDFC Bank, Bank of Baroda, Punjab National Bank and Oriental Bank of Commerce (all -1%). The lone gainer is Union Bank of India which is 1.8% up.
Add commentMarch 16th, 2007
India has a huge dearth of Power. Power is an essential raw material that goes into both the service and manufacturing sectors. Almost all power sector companies have drawn up plans to increase their output for the next few years.
National Thermal Power Corporation (NTPC) has signed an MoU with Coal Corporation of India (CCI). As per the MoU, the duo will form a joint venture company that will set up integrated power plants of capacities ranging from 3000 to 4000 MW each. The JV company also will develop coal blocks.
On the NSE, NTPC Limited closed yesterday at 140.50, opened today at 139.90 saw an intraday high of 140.80 and intraday low of 138.80 and is currently trading at 139.90
Add commentMarch 16th, 2007
The markets slowly have slipped into the red. NIFTY is currently at 3627.60 (-0.44%)
Suzlon slipped below 1000 levels and is trading at 981.15 (-4.1%). Infosys is trading at 2057.00 (-1.08%)
Add commentMarch 16th, 2007
Its Friday and the last trading day of the week. NIFTY opened in the green and is currently at 3649.40 as against its previous closure of 3643.60. All indicies are partially in the green.
Stocks getting good buying interest include Dr. Reddy, Tata Motors (both +2%), Hindalco, Tata Steel, Zee Limited, HPCL, ACC, VSNL, BPCL and SAIL (all above +1%)
On the other hand Suzlon (-2.9%), Reliance Communications, Glaxo, Siemens, Dabur, Tata Power, HCL Tech, Bharti Airtel, M&M and IPCL are trading partially in the red.
Add commentMarch 16th, 2007
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