Archive for August 29th, 2008
Friday, August 29, 2008 3:46:10 PM IST
Positive trend from the inflation, cooling of crude oil prices and a good US$ has brought back good buying in the Indian stock markets. Bank, Realty and PSU are busy counters today. BSE Sensex closed day at 14557.87 up by 509 pts or 3.63%. NSE Nifty closed day at 4356.30 up 3.38%
The CNX IT closed at 3.19%. All 20 stocks advanced today. Moser Baer is up 10.9%. Educomp is up 6.05%. CMC and GTL are up over 5% each.
The star of the day is undoubtedly Banking stocks. Bank Nifty is up 6.64% - the highest rise in recent times. All 12 stocks on the Bank Nifty are up. Kotak Bank opened at 579.5 and closed the day at 607.15 up by 9.16%. Other gainers include Oriental Bank, Axis Bank, Union Bank and the Punjab National Bank.
CNX 100 is up 3.41% and CNX Midcap is up 2.8%. Top gainers of the day from the Nifty Midcap 50 segment include Moser Baer (up 10.98%), Ashok Leyland (up 8.33%), Punk Lloyd, Matrix Laboratories, CESC (all up over 7%), Andhra Bank, Divis Lab, Syndicate Bank (all up over 6%) amongst others.
The BSE Sensex showed a glowing face as it managed to clos the day above 14550 points. The index is up 509.53 points or 3.63%. Midcap index stocks showed buying interest in the last hour of trade. The BSE Midcap index is up 2.41%. The Smallcap index rather remained calm but managed to be up by 1.53%
All sectoral indices on the BSE closed the day with atleast 1% up. The list is lead by Bankex (up 6%), Realty (up 4.7%), PSU, Metal, Capital Goods, Power, Teck (all up over 3%)
Overall a good day both for the traders and investors.
1 U.S. dollar = 43.5445 Indian Rupees
1 U.S. dollar = 108.8850 Japanese Yens
1 U.S. dollar = 0.6784 Euros
1 Ounce Gold = $835.60
1 Barrel Crude Oil = $116.75
August 29th, 2008
Friday, August 29, 2008 2:36:49 PM IST
The BSE Sensex is testing the 14500 levels yet again. BSE Sensex is at 14490.83 up by 442 points or 3.15%. The NSE Nifty is at 4329.75 up 2.75%. Three banks Corporation Bank, Union Bank of India and HDFC Bank turned up first and SEBI has givent he nod for the new IPO money management system
CNX IT is up 2.49% Bank Nifty is up 5.75%. Both BPCL and SBI are now up over 6.3% each. Punjab National Bank, ICICI Bank, Reliance Infra, Tata Communications, National Alumnium, HDFC Bank, BHEL and Tata Steel are the other gainers.
SEBI works for the interest of the investors and the latest example to support this is the new system the regulator has approved for manging the investors IPO money that is locked till the shares are alloted. The new system, termed as the Applications Supported by Blocked Amount (ASBA) asked banks to do a self certification about the implementation of its proposed scheme.
Three banks Corporation Bank, Union Bank of India and HDFC Bank turned up first and SEBI has givent he nod for the new IPO money management system, according to the business press today.
With this scheme in place, investors need not have to worry that their funds are locked IPO issuer till allotment. Further, refund process also goes off.
1 U.S. dollar = 43.5445 Indian Rupees
1 U.S. dollar = 108.8850 Japanese Yens
1 U.S. dollar = 0.6784 Euros
1 Ounce Gold = $836.70
1 Barrel Crude Oil = $116.98
August 29th, 2008
Friday, August 29, 2008 1:33:49 PM IST
The early day gains after good buying interest in inflation-related stocks such as Banking, Realty and Capital Goods continued to hold. Nifty is at 4330 up 2.77%. BSE Sensex is up at 14465 up 416 pts or 2.97%
CNX IT is up 2.39% while Bank Nifty slipped a bit but is up 5.53%. BCPL is up 5.93%. Other gainers include Reliance Infra, National Alumnium, Tata Communications, BHEL, HDFC Bank and HCL Tech (all up over 4%). The losers list of Nifty includes Grasim and Cipla (both margianlly down).
CDMA companies too allowed to bid for 3G
The Governments clarified, vide a modification to its policy to allow CDMA players to compete in the bidding process for the 3G spectrum. Meanwhile Telecom minister A Raja has eased out the roadmap allowing the bidding process to complete by October. With the changed policy, various existing (such as Tata Teleservices, Shyam Tele, BSNL and MTNL) and upcoming CDMA players can enter into the fray for the 3G pie.
Share-prices of various telecom stocks
Bharti Airtel (NSE:BHARTIARTL): 822.55 (up 2.24%)
Reliance Communications (NSE:RCOM): 397.80 (up 3.36%)
Tata Tele (NSE: TTML): 26.20 (up 4.59%)
MTNL (NSE:MTNL): 98.95 (up 1.28%)
1 U.S. dollar = 43.5445 Indian Rupees
1 U.S. dollar = 108.8850 Japanese Yens
1 U.S. dollar = 0.6784 Euros
1 Ounce Gold = $835.70
1 Barrel Crude Oil = $117.09
August 29th, 2008
Friday, August 29, 2008 12:30:12 PM IST
Stocks gained further inroads as Banks and Realty stocks continue to get buying interest. CNX Nifty is at 4353.45 up 3.31%. Bank Nifty is up 6.51%. BSE Sensex is up 497 points and is up 3.54%
ICICI Bank is up 7.39%. SBI, Punjab National Bank, HDFC Bank are up 6.78%, 6.68%, 5.27% respectively on the NSE.
MRF Limited (NSE:MRF; ISIN Code:INE883A01011) has entered into aviation tyre business with its ‘Aero Muscle’ tyre brand. These tyres will be used by Chetak helicopters of the Indian Military. The tyres have been tested and had been given approval by two airworthiness testing centres.
MRF plans to take help from the Defence Ministry to make the tyres economically viable. MRF says the tyres will be manufactured from its Arakkonam facility in Tamil Nadu till a dedicated facility comes up at its existing plant at Medak, Andhra Pradesh.
The script is trading at 3524 levels on the BSE. Its 52-week high price is 8955.55 and 52-week low price is 3050.00
Its peer Apollo Tyres is trading at 40.05 (unchanged)
1 U.S. dollar = 43.7005 Indian Rupees
1 U.S. dollar = 109.4211 Japanese Yens
1 U.S. dollar = 0.6806 Euros
1 Ounce Gold = $834.30
1 Barrel Crude Oil = $116.85
August 29th, 2008
Friday, August 29, 2008 11:31:51 AM IST
Buying in banking stocks are driving the market more into the green. Bank Nifty is up 5.44% while BSE Bankex is up 5.21%. ICICI Bank and SBI are both up over 6%. PNB is up 5.1%. HDFC Bank is up 4%. Tech Mahindra is in news for acquiring a minority stake in Servista.
Midcap Technology stock Tech Mahindra Limited (NSE:TECHM) has announced signing of an agreement with a United Kingdom-headquartered systems integrator Servista to acquire a minority stake in the later. As per the agreement, Tech Mahindra will be the exclusive delivery arm for Servista. Tech Mahindra will also help more large scale European IT offshoring business.
Servista operate in the Telecoms, Financial Services and Energy market sectors, with core offerings in CRM, Billing, Operational Workflow, IT Systems Transformation and Testing. Incidently telecom is the biggest business for Tech Mahindra. The acquiring of the stake will help the Tech Mahindra to expan its European presence as well as improve its business development capabilities.
Current price: 748.00 (at the time of writing)
52-week high price: 1550.00
52-week low price: 575.00
1 U.S. dollar = 43.7005 Indian Rupees
1 U.S. dollar = 109.4211 Japanese Yens
1 U.S. dollar = 0.6806 Euros
1 Ounce Gold = $835.10
1 Barrel Crude Oil = $116.93
August 29th, 2008
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