Archive for June 11th, 2008
The European Markets closed the day in the red. Russell 1000 is down 8.38 points or 1.12%. The FTSE 100 closed 104 points down or 1.78%. The FTSE 250 too is down, by about 1.96%. The FTSE All Share is down 40.08 points or 1.35%. The UK unemployment numbers are out and they showed a raise for the fourth month.
Leading gainers of the day include Sibir Energy plc, Lamprell Plc, SOCO International plc, Capita Group plc and Centrica Plc. The losers list include HBOS plc, Royal Bank of Scotland Group plc, Alliance & Leicester Plc, Inchcape plc and Daily Mail and General Trust amongst others.
Meanwhile the US markets too opened in the red.
NASDAQ is at 2414.96 down by 33.98 points or 1.39%. The DJIA is at 12129.37 down by 160.39 points or 1.31%. The S&P 500 is at 1342.44 down by 16.00 or 1.18%. Fed Reserve Vice Chairman Kohn said that anchoring inflation expectations “is critical” and that the gain in oil prices is raising consumer inflation expectations. Looking at the sectoral indices, the Energy sector is looking good while the Transporation is in deep red at the moment.
June 11th, 2008
The Reserve Bank of India, making an urgent step, has announced the hike by 25 bps in the Repo rate from 7.75% to 8%. The Reverse Repo rate is untouched.
Reacting to the news, a senior official at the Canara Bank, speaking to a business television channel said that the Bank will take an action on a wait and watch mode. The official said that the bank has enough headroom at the moment.
In general, with the repo rate touching the 8% mark, banks will be increasing their lending rate as well as the deposit rates.
With the RBI announcement coming late in the evening after the closing bell of the Indian stock markets, the Banking stocks would be the most watched after once the markets open tomorrow.
Banking stocks today made decent moves on the stock charts today. Of the 16 stock BSE Bankex, 13 stocks advanced while only 3 stocks declined.
Top banking stock gainers of the day include Bank of India, Union Bank, HDFC Bank, Bank of Baroda, Axis Bank, STate Bank of India, Allahabad Bank amongst others.
June 11th, 2008
Following global queues, the Indian stock markets closed the day in the green. The markets maintained the gains all through the day though it attempted to go down twice during mid day. The CNX Nifty is up 1.66% while the BSE Sensex is up 1.99%. All sectoral indices managed to stay in the positive territory. Bank Nifty gained 2.7%. The BSE Reality Index is up 3.07%
Nifty gainers of the day include Ambhuja Cement and BHEL - the two stocks are up 7.11%. Others include DLF, Hero Honda, HDFC Bank, Bharti Airtel, HDFC, SAIL, Cipla and ACC. Nifty losers pack includes BPCL, Siemens, Idea, Sun Pharma, Cairn, Sterlite Industries, Reliance Communications, Tata Motors, Grasim and Maruti.
June 11th, 2008
The US Stock markets closed on a mixed note on Monday. The Dow closed at 12,289.76 points up +9.44 points while the NASDAQ closed marginally in the red at 2,448.94 points and lost 10.52 points. The S&P 500 closed in the red too at 1,358.44 points and lost 3.32 points.
Apple Inc. (AAPL) announced its next generation iPhone. Partnering with many mobile service providers across the globe, the enhancements to its already popular product line are expected to boost its sales. AAPL closed at $185.64 gaining $4.03. Peer Plam Inc. (PALM) last traded at 6.34 down 0.45. Microsoft (MSFT) last traded at 27.89 up 0.18.
Most advancing stocks on the NASDAQ are INX Inc., HireRight, Inc., Cardica, Inc., Republic First Bancorp, Inc. and American Superconductor Corporation
1 U.S. dollar = 107.054919 Japanese yen
1 U.S. dollar = 0.646746863 Euros
June 11th, 2008