The Indian stock markets opened positive this morning. CNX Nifty is up 0.47% while BSE Sensex is up 0.39%. The Largecap, Midcap and Smallcap are trading okay in the first half an hour of trade.
Metal stocks looks good. The BSE Metal Sectoral index is up 1.5%. PSU, Consumer Durables, Healthcare are looking good. IT and Reality sectoral indices are marginally in the red.
Some profit booking is seen in large cap telecom stocks. Both Reliance Communications and Bharti Airtel are in the red. Banking stocks are mixed as both traders and investors are keeping waiting for the key announcements from the Reserve Bank of India (RBI) later today. The Bank Nifty is marginally in the red and is down 0.34%
Tata Steel is trading above the Rs. 800 mark. The script is at Rs. 805.25 up 3.44%
April 29th, 2008
The American markets had a mixed day on Monday. NASDAQ lost points for the first hour of trade before taking a reveral route. The reverse course continued for almost till the end before which the index reversed and closed the day a mere 1.47 points up. Dow Jones Industrial Average closed in the red losing 20.11 points. The S&P 500 lost 1.47 points.
Mars, the makers of M&M’s has announced it is interested in acquiring the chewing gum company Wm. Wrigley Jr. Company for about $23 Billion. Warren Buffett seems to be joining hands with Mars to make the later America’s gaint food company.
Wm. Wrigley Jr. Company (Public, NYSE:WWY) closed the day at 76.91 up by +14.46 (23.15%). The script has a P/E of 33.77
Meanwhile, the Asian markets opened the Tuesday morning in the red. All Ordinaries is down 3.5 points. Straits Times, Seoul Composite and Taiwan Weighted too are marginally in red. The oil prices are the most watched after its price touched near $120 a barrel.
1 U.S. dollar = 104.101603 Japanese yen
1 U.S. dollar = 40.0496616 Indian rupees
April 29th, 2008