Posts filed under 'Equities'
The Reserve Bank of India, making an urgent step, has announced the hike by 25 bps in the Repo rate from 7.75% to 8%. The Reverse Repo rate is untouched.
Reacting to the news, a senior official at the Canara Bank, speaking to a business television channel said that the Bank will take an action on a wait and watch mode. The official said that the bank has enough headroom at the moment.
In general, with the repo rate touching the 8% mark, banks will be increasing their lending rate as well as the deposit rates.
With the RBI announcement coming late in the evening after the closing bell of the Indian stock markets, the Banking stocks would be the most watched after once the markets open tomorrow.
Banking stocks today made decent moves on the stock charts today. Of the 16 stock BSE Bankex, 13 stocks advanced while only 3 stocks declined.
Top banking stock gainers of the day include Bank of India, Union Bank, HDFC Bank, Bank of Baroda, Axis Bank, STate Bank of India, Allahabad Bank amongst others.
June 11th, 2008
Following global queues, the Indian stock markets closed the day in the green. The markets maintained the gains all through the day though it attempted to go down twice during mid day. The CNX Nifty is up 1.66% while the BSE Sensex is up 1.99%. All sectoral indices managed to stay in the positive territory. Bank Nifty gained 2.7%. The BSE Reality Index is up 3.07%
Nifty gainers of the day include Ambhuja Cement and BHEL - the two stocks are up 7.11%. Others include DLF, Hero Honda, HDFC Bank, Bharti Airtel, HDFC, SAIL, Cipla and ACC. Nifty losers pack includes BPCL, Siemens, Idea, Sun Pharma, Cairn, Sterlite Industries, Reliance Communications, Tata Motors, Grasim and Maruti.
June 11th, 2008
The Indian Markets, like most of the Asian markets, closed the day in the red though the intensity is a bit less compared to yesterday. The BSE Sensex closed down by 176.85 points at 14,889.25 points. The CNX Nifty closed at 4449.80 points and down by 1.14%.
IT stocks took a bit of more heat compared to others today. The BSE IT Sectoral index is down 2.75%. The Bankex, Consumer Durables and Realty indices are all down by over 2%.
Top losers of the day on the Nifty include ONGC, HDFC, HCL Technologies, HDFC Bank, Sterlite Industries, National Aluminium, TCS, Tata Communications, Zee Limited and Satyam Computers. Nifty gainers of the day include Ranbaxy, Suzlon, SAIL, Cipla, BPCL, Reliance, ABB, Hindustan Leaver, Sun Pharma and Dr. Reddy.
1 U.S. dollar = 41.4593698 Indian rupees
June 10th, 2008
The stock markets made a brisk recovery in the last hour of trade. The NSE Nifty is at 4626.85 point up 0.90% while the BSE Sensex is at 15,594.26 points and is up 0.51%
IT stocks gained the most in this session followed by Health care and FMCG. The focus is clearly on defensive stocks at the moment. The most gainers amongst the IT stocks are Satyam Computers, Infosys, Wipro, Polaris, HCL Tech which are on a good recovery course post the USD upward movement.
Most active stocks of the day so far include Reliance, ONGC, Bharti Airtel, Reliance Capital, L&T, Infosys Technologies, ICICI Bank, Reliance Petroleum, DLF and IFCI
June 5th, 2008
With the news of the Government okaying the approval to marginally hike petrol, diesel and LPG prices, stocks on the markets took a downward trend. Nifty is down 2.76%, Nifty Junior down by 3.82%, CNX IT is down 2.35%, Bank Nifty is down 2.98%, CNX 100 is down 2.91%, CNX Midcap is down 2.95% and Nifty Midcap 50 is down 4%
Sensex is down over 447 points and closed at sub-16K levels at 15,962.56. Sectorally, Realty, Metal, Power, Oil & Gas, Auto, Consumer Goods and Consumer Durables are hit the most.
Amogst the oil stocks, BPCL, Essar Oil and Cairn are hit the most as the scripts are down over 7% each. RIL Natural Gas is down 4.6%, Aban Offshore and Reliance down 4% each. Oil & Natural Gas Corporation (ONGC) opened at Rs. 843 levels and managed to close the day at Rs. 887.05
1 U.S. dollar = 104.460462 Japanese yen
1 U.S. dollar = 42.3603169 Indian rupees
1 U.S. dollar = 0.647039793 Euros
June 4th, 2008
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