Archive for February, 2012
SENSEX closed at 17752.68 gaining a mere 21.56 (0.12%) points in trade today. The markets are over 1% up till about noon after which selling pressure came into picture.
The NIFTY ended at 5385.20 gaining 9.70 (0.18%) points. The mid cap and small cap stocks performed better. The CNX Midcap ended at 7705.60 gaining 94.30 (1.24%) points which BSE Smallcap closed at 6859.97 gaining Rs. 42.06 (0.62%).
Huge volatility and what the experts believe as the end of the pre-budget rally has shown its effect on the Indian markets today. The
Sources say auction of ONGC shares will be on March 1. The stake sale auction floor price is set at Rs 290/share and the Government will raise Rs 12,405 cr at floor price. ONGC closed the day at Rs. 293.20 up 9.80 (3.46%). Auction process is believed to be the quickest route for the Government to get funds from the sale. The process however disappointed the retail investor community.
February 29th, 2012
The SENSEX added 285 points today to close at 17731.12 gaining 1.64%, all thanks to the buying interest that stepped in. The NIFTY closed at 5375.50 gaining 94.30 (1.79%).
Experts believe that the markets will be volatile a bit before reaching the 5700-6000 mark post which a decisive rally can be witnessed.
The CNX Midcap zoomed to 7611.30 gaining 259.50 (3.53%) while the BSE Smallcap is up at 6817.91 gaining 184.27 (2.78%).
Raging Cap (holds 5% in Taro) says Taro board should immediately reject Sun’s acquisition proposal. Sun Pharma closed at Rs. 546.35 down 2.40 (-0.44%).
Top gainers of the day include Reliance Infra (up 11%), Reliance Power, Reliance Comm and Jaiprakash Asso (up 7%), IDFC and BHEL (up 6%), Tata Motors, SBI, DLF and Axis Bank (up 4% each).
On the losers side are Cairn India and TCS (down over 2%), Wipro and BPCL (down 1% each) and ITC, HCL Tech, Sun Pharma, NTPC and Infosys (down in the red marginally).
February 28th, 2012
As anticipated by every one, the Indian markets have proved that the correction is on and this is evident from the fact that the Sensex had a whopping falling down of 478 points in a single session. Experts say that upward and downward moves likes these will be common during the year.
SENSEX closed at 17445.75 down 477.82 (-2.67%) while NIFTY closed at 5281.20 down 148.10 (-2.73%). The CNX Midcap experienced an even bigger correcting by moving down to 7351.80 down 236.50 (-3.12%) while BSE Smallcap closed at 6633.64 down 223.40 (-3.26%).
Top Nifty gainers of the day include ITC (up 1.34%), ACC, DRREDDY and CIPLA.
Top Nifty losers include SESAGOA (down over 10%), SAIL, RPOWER and RELINFRA (down over 8% each), IDFC (down over 7%), RCOM, TATASTEEL, HEROMOTOCO, JPASSOCIAT and AXISBANK (down over 6% each) amongst others.
On the other hand, the global markets appear bleak too. Oil prices to extend gains threatening global recovery.
Vedanta Resources made a key announcement that it will merge Sesa Goa & Sterlite Industries. Vedanta will own 58.3% in Sesa Sterlite post-merger. Sesa Goa closed at Rs. 203.85 down Rs. 22.85 (-10.08%)
MCX IPO price sets at Rs 1032 (upper end) Financial Tech is down at Rs. 799.80 slipping by 23.90 (-2.9%).
February 27th, 2012
The news that Citibank has sold its stake in HDFC has pulled down HDFC today. HDFC is down to Rs. 676.40 slipping 3.55% by closing time.
Zuari Industries and Chambal Fertilisers are eyeing UB group’s 30.4% stake in Mangalore Chemicals. Mangalore Chemicals closed at Rs. 44.35 gaining Rs. 4.10 (10.19%).
Vedanta has made offer for (govt’s 29.5% stake) residual Hindustan Zinc stake according to Govt sources. The script closed at Rs. 135.50 up 1.85 (1.38%)
February 24th, 2012
The Nifty expirty ended today reporting 6% gains during February.
The markets slipped a little today with the SENSEX closing at 18078.50 down 66.75 (-0.37%) while the NIFTY ended at 5483.30 down 22.05 (-0.40%). The CNX Midcap ended 7646.15 down 30.65 (-0.4%) while BSE Smallcap is testing the 6900 mark as it closed at 6905.89 down 63.17 (-0.91%).
Econet seeks $ 300 bn damages from Bharti Airtel. There is dispute over ownership of its subsidiary Airtel Nigeria. Bharti Airtel closed at Rs. 338.70 down Rs. 8.75 (-2.52%)
SBI rebounds after company clarified that it has not given any fresh loans to Kingfisher Airlines. SBI ended at Rs. 2260.50 gaining Rs. 5.50 (0.24%)
February 23rd, 2012
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