Archive for August 14th, 2008
Thursday, August 14, 2008 3:57:15 PM
The Indian stock markets had yet another day in the red. The Sensex lost 369.94 points and closed at 14724.18 down by 2.44%. The BSE Midcap Index lost 105.95 points and is down 1.79%. The BSE Smallcap Index is down 1.65% or 119.33 points
The NSE Nifty shut shop at 4430.50 down by 2.18%. Selling pressure in Banking stocks has bought down the Bank Nifty to 6050.25 levels. The index is down 5.03%. IT stocks continued to hit with the USD-Re turning out a bit favorable.
Selling pressure in the Bank stocks - both amongst the public sector and private sector has dragged the markets the most. Canara Bank and Punjab National Bank are down over 7% each. Kotak Mahindra Bank and SBI are down 6%, Union Bank of India, Bank of Baroda are down over 5% each.
IT stocks had a relatively good day - particularly the midcap IT stocks. Subex is up 9.83%, MPhasis is up 6.6%, Polaris is up 5% in todays trades. Infosys attempted to cross the Rs. 1700 mark but closed the day at 1695 levels. Satyam managed to close the day at above Rs. 400 levels. The script opened at Rs. 404, touched an intraday high of 417.45 and intraday low of Rs. 400 and last traded at Rs. 411.50
1 U.S. dollar = 42.6112153 Indian rupees
1 U.S. dollar = 109.337415 Japanese yen
1 U.S. dollar = 0.673083395 Euros
August 14th, 2008
Thursday, August 14, 2008 3:08:56 PM
Punj Lloyd is a company into the construction business. The company has good order book for the next 2 years or so and is well poised to take advantage of nuclear-related construction projects considering its subsidary has experience in setting up nuclear plants in the US.
The script is current trading at 276.60 on BSE. It has a 52-week high of 589.10 and 52-week low of 191.40
Its market cap is at 8393.76, P/E is 29.52 and EPS (TTM) at 9.37.
Many analysts are giving buy calls to the script with a target of Rs. 467
August 14th, 2008
Thursday, August 14, 2008 3:01:18 PM
Markets lost further strength in the last hour or so and Nifty touched a new intraday low. Nifty is at 4447.15 down 1.81%. Nifty Junior is down by 3.14% and is currently at 7206.25. Bank Nifty is down 4.80% and is at 6065.15. CNX IT is holding firm at 3910.55 up 1.44%
Top losing Banking scripts include Canara Bank (down over 7.8%), Bank of Baroda (down 6.87%), SBI, Union Bank of India, Kotak Bank, Bank of India (all down over 5.5%), ICICI Bank, IDBI (all down over 4%), Oriental Bank of Commerce, Punjab National Bank, Axis Bank and HDFC Bank (all down over 3%)
Sensex is currently at 14777.16 down 315 points or 2.09%. Top BSE Sectoral losers include Bankex, Capital Goods, Power and PSU.
Market analysts say, looking at the current economic situation and global factors, there could be a further downside of 10%
1 U.S. dollar = 42.6112153 Indian rupees
1 U.S. dollar = 109.337415 Japanese yen
1 U.S. dollar = 0.673083395 Euros
August 14th, 2008
Thursday, August 14, 2008 10:49:00 AM
The Indian stock markets had a weak opening this morning. NSE Nifty is at 4457.70 while BSE Sensex is at 15,093.12. Top sectoral losers on the Sensex include Realty, Bankex, Capital Goods and Power. IT had a little recovery as the BSE IT Index jumped up 1.54%
Top Nifty losers of the hour include DLF, Reliance Infra (both down by over 5%), ICICI Bank, Unitech, HDFC, SBI (all down over 4%), HDFC Bank, BHEL, Suzlon and Maruti (all down over 3%)
Top Nifty gainers of the hour include Infosys Technologies (up over 2%), Cairn, Tata Steel, Satyam (all up over 1%), Sterlite, Sun Pharma, Wipro, Cipla, HCL Tech and SAIL (all marginally up)
Oil prices jumped upwards by $3 after news of US Oil inventory levels dropped.
1 U.S. dollar = 42.5495702 Indian rupees
1 U.S. dollar = 109.385255 Japanese yen
1 U.S. dollar = 0.670106547 Euros
August 14th, 2008