Archive for September 4th, 2008
Yet another day gone without much damange. The day opened in the red much like its Asian peers, attempted recovery but failed and finally closed in the red with the Nifty slipping about 1.25% and Sensex about 1% at the end.
The day has reported lower volumes in trade and stocks are largely news driven. The CNX Nifty closed at the sub-4450 levels once again. The index last traded at 4447.75 down 1.25%. CNX IT is up 0.16% while Bank Nifty is down 0.22%. The CNX 100 is down 1.17% and the broder CNX 500 is down 1.03%
BPCL, GAIL, Maruti (all up over 3%), Hindalco, Tata Power (both up over 2%), Cairn, Tata Communications, Dr. Reddy, Hero Honda (all up over 1%), Grasim (marginally in the green)
Sterlite continued to be hammered stock in the Nifty after it closed the day again in the red. The script last traded at 612.85 levels and is down 3.94% on the Nifty. Other losers on the Nifty include National Aluminium, ABB, ONGC (all down over 3%), Unitech, HDFC Bank, Reliance, ITC, SAIL and Hindustan Unileaver (all down over 2%)
Midcap gainers of the day list is topped by Moser Baer. The script last traded at 116.50 up 9.75%. Its 52-week high is at 345 and 52-week low is 87.80. The script is buzzing after news that it is setting up a thin film photovoltaic unit in Chennai. Analysts say the script has a resistance at Rs. 120 levels and once above that it can touch Rs. 125. Moser Baer is able to build up buying interest in recent times.
The BSE Sensex slipped by 150.76 points in todays trade. It last traded at 14899.10 down 1%. BSE Midcap and Smallcap indices are down 0.13% and 0.11% respectively. Realty sectoral index is down 3.2%. Other losing sectors on the BSE include FMCG, Oil & Gas, Metal and Power all of which are down over 1%
Overall not a damaging day for the Indian stock markets today. Tomorrow’s trades will depend on the Indian inflation numbers, the price of the crude oil and of course on how the US markets will close their trading day.
1 U.S. dollar = 43.9599 Indian Rupees
1 U.S. dollar = 106.8147 Japanese Yens
1 U.S. dollar = 0.6890 Euros
1 Ounce Gold = $809.70
1 Barrel Crude Oil = $109.16
September 4th, 2008
Thursday, September 04, 2008 2:35:52 PM IST
Attempts by the indices to get to the green continue to fail during the last hour of trade. CNX Nifty is at 4447 down 1.26% while BSE Sensex is at 14866.48 down 1.22%. BSE Realty index is down over 3.22%
The CNX IT is back into the red and is down 0.22%. Bank Nifty is down 0.49%. CNX 100 is down 1.21% while the broder CNX 500 is down 0.99%. GAIL is uo 4%. BPCL and Maruti are both up over 3%. HDFC Bank lost a bit during the last hour of trade. The script is trading at 1299.5 levels and is down 3%
BSE IT, Healthcare and Auto indices are in the green. Realty is down over 3.2%. Oil & Gas, FMCG, Metal, Consumer Goods, Power, PSU, Consumer Durables, Bankex and Teck are in the red.
1 U.S. dollar = 44.2203 Indian Rupees
1 U.S. dollar = 107.9797 Japanese Yens
1 U.S. dollar = 0.6895 Euros
1 Ounce Gold = $811.70
1 Barrel Crude Oil = $109.90
September 4th, 2008
Thursday, September 04, 2008 1:27:34 PM IST
HCL Technologies is buzzing after news came out that HCL is working with its advisors (ML) and Bankers (Stan Chart) for a possible counter bid to acquire Axon. Axon, readers may recall, was in news about 10 days back when Infosys announced it is in the process of acquiring the company. Meanwhile, readers may also recall HCL announced a few months back that it is waiting for a good target acqusition which means that HCL is well prepared to acquire a company.
The BSE IT space is managing to stay in the green. The BSE IT Sectoral index is at 4073.81 up 0.17%. 5 of the 11 stock index are currently trading in the green. HCL Technologies is at 251.55 levels up 0.78% on the BSE. Infosys is at 1785 levels marginally up 0.55%
Meanwhile the indices are back in the red. The NSE Nifty is down 1.37%. CNX IT and Bank Nifty are marginally in the red. BSE Sensex is down 196 points and is at 15049 levels.
BSE Realty index is now more deeper in the red. The index is down 3.17% at the moment. Needless to say Unitech does figure in the NSE Nifty losers charts. The script is trading at 164.55 levels and is down 2.95%
1 U.S. dollar = 43.9502 Indian Rupees
1 U.S. dollar = 107.9797 Japanese Yens
1 U.S. dollar = 0.6895 Euros
1 Ounce Gold = $811.00
1 Barrel Crude Oil = $109.62
September 4th, 2008
Thursday, September 04, 2008 12:38:12 PM IST
The markets made a solid effort to recover. The BSE IT and Auto indices have now come into the green. Banking stocks, lead by ICICI Bank are buzzing.
The CNX Nifty is at 4457 levels and is down 1.03%. The CNX IT is now in green by 0.01% and Bank Nifty recovered though it is down at 0.53% at the moment.
Gainers on the Nifty include GAIL (up 3%), Hero Honda, Maruti, Dr Reddy (all up over 2%), Ambuja Cement, Tata Power, Tata Communications, Cairn, HCL Tech and ICICI Bank (all in the green over 1%)
Nifty losers list is lead by Sterlite (down over 4%), SAIL, Unitech, ABB, ONGC, HDFC, HDFC Bank, National Aluminium, Reliance and Power Grid (all down over 2%). ONGC confirmed that it has no plans to list its overseas venture at the moment.
1 U.S. dollar = 44.2203 Indian Rupees
1 U.S. dollar = 108.0730 Japanese Yens
1 U.S. dollar = 0.6905 Euros
1 Ounce Gold = $806.10
1 Barrel Crude Oil = $109.02
September 4th, 2008
ONGC (BSE Script Code: 500312; Script Id:ONGC) seems to be in all happy mood after its initial success in the bid to acquire UK-based Imperial Energy. The oil major is now thinking and evaluating about the possible listing of ONGC Videsh Ltd or OVL sometime in 2009. OVL is the overseas exploration subsidary of ONGC. A leading business daily said it has information from sources close to the company that the funds raised will be used to repay some of the loans that OVL will be taking to use for the acquisition of Imeperial Energy.
ONGC’s 52-week high is 1386.90 and 52-week low is 780 on the BSE
Meanwhile, Oil stocks are not doing that well today. The BSE Oil & Gas index is down 1.83%. 6 of the 11 scripts in the index are down. ONGC is down over 3.3% followed by Reliance, Reliance Energy and Essar Oil which are all down over 2%. Aban Offshore is up 2.77%
The stock markets meanwhile made an attempt to recover from the red. The Nifty is down 1.65% at 4429 while BSE Sensex is down 1.26% at 14859.
Stelite continues to be down. The script is down 4.39% at 610.00 on the NSE. ONGC, Unitech, SAIL, DLF are all down over 3%
ICICI Bank made a bit of recovery. The script is now up 0.90% on the Nifty and is trading at 720.50 levels.
1 U.S. dollar = 43.9502 Indian Rupees
1 U.S. dollar = 108.0730 Japanese Yens
1 U.S. dollar = 0.6905 Euros
1 Ounce Gold = $802.40
1 Barrel Crude Oil = $108.99
September 4th, 2008
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