Archive for February 5th, 2008
Volatility is into play as the Indian stock markets had many course reversals finally closing flat by the time the closing bells are rung. Sensex closed a mere 2.84 points up at 18,663.16 while the CNX Nifty closed at 5483.90. IT, Auto and Banking stocks are the worst hit. The BSE Small cap index is up 1% while the BSE Mid cap index closed up 0.83%.
Top Nifty 50 gainers include ABB, Unitech, Dr. Reddy, NTPC, Ranbaxy, Tata Power, Glaxo, Reliance Petrol, ONGC and Cipla. Top Nifty 50 losers include Hero Honda, Maruti, M&M, Suzlon, HDFC Bank, Bajaj Auto, Idea, TCS, National Aluminum and Tata Motors.
Metal sector is up 2.16% on the BSE today. Jindal Steel is up 13.25%. The script last traded at Rs. 2,586.35 on the BSE. Ispat Industries is up 6% as the script last traded at Rs. 46.85 on the BSE.
1 U.S. dollar = 39.2819264 Indian rupees
February 5th, 2008
Indian stock markets opened in the red after the US and Asian markets ticket red. Nifty is marginally down by 0.47%, CNX 500 down by 0.20% and CNX IT down by 1.32%. Even the Bank Nifty is down by 1.16%. Sensex is down 63.86 points or 0.34%. TCS news has hit the IT stocks
Sensex Mid cap and Small cap are marginally red. Consumer Goods, Health care and Realty are up while other BSE sectoral indices are in the red.
IT sector stocks are having a bad start this morning. The news of TCS to sack about 400 employees with less than 2 years experience has hit the market by surprise. Almost all top tier IT companies were racing each other till few months back to get fresh talent and retain existing talent.
TCS opened the day at Rs. 960.00 on the NSE, hit an intraday high of 975.00 and intraday low of Rs. 935.65 and is trading at Rs. 953.10 levels. The script is down 2.22%. Infosys is down 1.54%, Satyam is down 2.69% while Wipro is down 2.25%
On the Banking front, almost all the scripts on the Bank Nifty except the Bank of India are in the red. SBI is trading at Rs. 2246.15 levels.
February 5th, 2008
The American markets slipped by over a percentage point as the financials sector continued to show negatively impact the market sentiments. NASDAQ closed at 2382.85 and is down by 1.26%
Dow Jones Industrial Average slipped by 108 points or 0.85%. S&P 500 last traded at 1380.82 down by 14.60 points or 1.05%
Top gainers of the day include Sigmatel, Inc., Bakers Footwear Group, Inc. , Achillion Pharmaceuticals, Inc., FX Real Estate and Entertainment Inc. and Oculus Innovative Sciences, Inc.
Internet giants lead the Most Active Share Volume stocks for the day on the NASADQ. Yahoo! Inc., Microsoft Corporation , PowerShares QQQ Trust, Series 1, Cisco Systems, Inc. and Intel Corporation topped the charts. Yahoo last traded at $ 29.33 up by 3.35% while Microsoft last traded at $ 30.19 down 0.85%
February 5th, 2008
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