Archive for September 11th, 2008
Thursday, September 11, 2008 4:15:27 PM IST
Markets continue to be on a downward move today after having a gap-down opening. Nifty closed at 4290.30 down 2.50% while Sensex lost 338.32 points and closed at 14324.29 losing 2.31%
CNX 100 is down 2.32% while CNX 500 is down 2.12%. CNX IT is down 1.14% and Bank Nifty is down 1.48%
BSE Midcap and Smallcap stocks are on mute note early in the morning but bears are back after them as day progressed. The Midcap index is down 1.08% and Smallcap index is down 1.22%
Oil & Gas, Power, Realty, Capital Goods, PSU sectoral indices on the BSE are down considerably while others indices are down marginally.
Nifty gainers of the day includes Tata Motors (up 1.08%) and Punjab National Bank (marginally in the green). Nifty losers list is lead by Suzlon (down over 6.6%), HCL Tech, Zee Limited, Bharti Airtel, Reliance Infra and Reliance (all down over 4%), ONGC, Tata Power, DLF and Sun Pharma (all down over 3%).
Gold and Crude Oil are on a correction mode. Gold is at sub-$750 level while Crude Oil came to $101 levels today. Analysts say $80 would be the correct price for crude oil once it gets down at $100 levels.
1 U.S. dollar = 45.0491 Indian Rupees
1 U.S. dollar = 107.5731 Japanese Yens
1 U.S. dollar = 0.7131 Euros
1 Ounce Gold = $743.00
1 Barrel Crude Oil = $101.76
September 11th, 2008
Draft offer documents for the following mutual fund schemes are submitted and are put for public view and commenting:
Birla Sun Life Equity Linked FMP - Series I-M
ING Annual FMP Fund
JP Morgan India Tax Advantage Fund
UTI Short Term FMP - Series II
September 11th, 2008
Thursday, September 11, 2008 10:33:17 AM IST
The Indian stock markets took a gap down opening. Nifty is down by 1.39% and is at 4339. BSE Sensex at 14494.01 down by 168.60 or 1.15%
CNX IT is down 0.82% despite the USD touching the Rs. 45 a US Dollar levels. Bank Nifty is down 0.42%. CNX 100 is down 1.19% and CNX 500 is down 1%
BSE Sensex is down 1.15%. Midcap index is 0.13% while the Smallcap index is unchanged. Oil & Gas, Power, Realty and PSU are down over 1% each.
Sterlite recovered a bit after being hit down in the last two trading sessions. Sterlite is trading at 514.1 levels on the Nifty. Ranbaxy, PNB and GAIL are other Nifty toppers.
Zee Limited, Reliance, Power Grid, National Aluminium, ONGC (all down over 2%), DLF, HCL Tech, Reliance Infra, Cipla and Ambuja Cement (all down over 1%) are top losers on the Nifty.
1 U.S. dollar = 45.0491 Indian Rupees
1 U.S. dollar = 107.5731 Japanese Yens
1 U.S. dollar = 0.7131 Euros
1 Ounce Gold = $755.60
1 Barrel Crude Oil = $103.55
September 11th, 2008
ICICI Prudential Mutual Fund has announced a dividend of 15% (Rs. 1.50 per unit) in the ICICI Prudential Power Fund.
Launched in September 1994 , the portfolio of the fund comprises of large-cap and mid-cap stocks and is aimed at capturing the growth opportunities across multiple sectors in the market.
The investment objective of the fund is: “To generate capital appreciation by actively investing in equity/ equity related securities. For defensive considerations, the Scheme may invest in debt, money market instruments, to the extent permitted under the Regulations. The AMC will have the discretion to completely or partially invest in any of the type of securities stated above so as to maximize the returns.”
The previous dividends announced under the scheme are:
March 19, 2008: 20%
September 7, 2007: 20%
March 16, 2007: 20%
August 8, 2006: 20%
December 26, 2005: 20%
The Top 10 stocks in its portfolio are:
Reliance Industries Ltd
Bharti Airtel Ltd
Infosys Technologies Ltd
Larsen & Toubro Limited
Bharat Heavy Electricals Ltd
ICICI BANK LTD.
Tata Consultancy Services Ltd.
ITC Ltd
Aditya Birla Nuvo Limited.
Oil & Natural Gas Corpn Ltd
Value Research Online gives a 3 Star rating for this fund.
September 11th, 2008