Archive for February 1st, 2008
It is a single sided day. Almost all the day spent in the positive territory. Nifty closed 3.47% up. CNX IT is up 5.95%, CNX 100 is up 3.08%, CNX Defty up 3.59%, CNX 500 up 2.22%, Nifty Midcap 50 is up 1.06%. So its all positive across the board today.
The first notable sector is the IT sector. Large cap IT stocks had a good buying building up. Is it a sign of good days for the sector? No one knows yet. Infosys, Satyam and TCS are up 6%. Wipro is up 3%. Subex is down 7%, Moser Baer is down 3.6%, GTL is down 2.2%. CMC down 0.77%
Banking stocks had a reasonably good day. ICICI Bank is up 4%, Bank of Baroda is up 4%, Bank of India and Union Bank are up 2%. Kotak Bank is the worst hit amongst the front line banking stocks. The script last traded at Rs. 972.65 on the Nifty and is down 5.44%
Other notable sectors that gained in todays trade are Auto and Metal. Both the sectoral indices on the BSE are up 3%. FMCG, PSU and Oil & Gas incides up over 2%
February 1st, 2008
The Nifty gained 50 points and Sensex is up 161 points. Lack of significant big trades has put an impact on the volumes which in turn has made the stock markets trading on script specific movements. BSE Sensex, Midcap index and Smallcap index are marginally in the green.
Future Capital Holdings got listed today. The script touched Rs. 1081 in the early hours of trade but selling quickly came in as the script came down to Rs. 840 levels. Future Capital is on plans to gain strength in the consumer finance space and then scale up to the other financial services areas. The company is aiming to make significantly large profits in 2010. The company plans to start its services in the Big Bazaar, Pantaloon and its other retail outlets, then move into other shopping malls and real estates and then to play head on with other financial players in its segment.
HFCL is trading at Rs. 25.70 levels making the script one of the worst hit in the recent times. This is despite of the market rumors that Reliance Communications is eyeing to acquire the company.
February 1st, 2008
Confidence seems to be back on the stock markets after few advisers are getting ready to announce that the worst is over for now. The US markets took a positive opening and reasonably positive closing too.
The Dow Jones Composite Index that opened at 4,197.37 is at 4,290.68 at 4:07 PM EST and is up 2.18%. NYSE Composite Index is up 1.46%. NASDAQ Composite is up 1.74%. Both NASDAQ Bank and NASDAQ Transportation indices are up over 3%. All S&P indices closed in the green. With this, almost every thing is in green for the day in the US stock markets.
The most advancing stocks on the NASDAQ include:
Royal Bancshares of Pennsylvania, Inc. (RBPAA)
Appalachian Bancshares, Inc. (GA) (APAB)
TiVo Inc. (TIVO)
Meruelo Maddux Properties, Inc. (MMPI)
Concur Technologies, Inc. (CNQR)
February 1st, 2008