The US Stock markets are in the red this morning. NASDAQ is down by about 12.1 points while Dow Jones Industrial Average is down 87.85 points.
The advancing stocks list of NASDAQ includes Vanda Pharmaceuticals Inc. (VNDA), Scopus Video Networks Ltd. (SCOP), INX Inc. (INXI), Albany Molecular Research, Inc. (AMRI) and STEC, Inc. (STERC)
Vanda zoomed by 26.84% with a volume of 1,790,789 shares traded (As of 5/5/2008 12:06:55 PM). The biopharmaceutical company recently reported a narrower than expected Q1 losses. The upside moved today is after news broke out that analysts are expecting Vanda’s schizophrenia drug Fanapta to win FDA approval. The decision of FDA is expected to come out in July.
1 U.S. dollar = 105.11931 Japanese yen
1 U.S. dollar = 0.6472073 Euros
May 5th, 2008
The Indian stock markets closed their monday in the red after having a good session in the first half of the day. The trend however revered post 12:00. The Nifty finally closed at 5192.25. CNX IT closed down by 1.48% while Bank Nifty closed down 0.26%. BSE Sensex closed down 0.62% while Midcap and Smallcap indices closed in the green. PSU, Realty, Health Care and Metal sectoral indices closed in red while FMCG, Bankex, Oil & Gas, Consumer Goods, Power, IT and Auto closed in the red.
Top gainers on the Nifty today include Zee Limited, Unitech, Cairn, Cipla, Siemens, Tata Steel, Dr. Reddy, ACC, Suzlon and Grasim. The losers pack included Hero Honda, Idea, HCL Tech, Wipro, SBI, HDFC, DLF, Tata Power, Punjab National Bank and M&M
May 5th, 2008
Today is Friday and the first trading day of the calender month. There is lots of news inflows - inflation numbers and result announcements apart from the stake acquisition of Mindtree in Aztechsoft. Yet the markets closed the day on a strong note.
Nifty closed strong at 5228.20 up by 1.21% while Sensex last traded at 17,600.12 up 1.81%. Buying interest is screen across the board. Bank, Auto, Realty, IT, Consumer Goods.. almost all of them have witnessed good buying interest. Bank stocks are dear ones for the traders as well as the investors today.
ICICI Bank, Bank of India, Kotak Bank, SBI and Union Bank closed on a strong note while Punjab National Bank and Oriental Bank of Commerce closed marginally in the red.
Reliance Industries, ICICI Bank, Maruti managed to close up by 6%, L&T and Tata Motors closed up 4%, M&M up over 3% while HCL Tech, Idea, Unitech and Wipro are up by over 2%
Top Nifty losers include Sterlite, Hindalco, Reliance Communications, Tata Steel, NALCO, ABB, PNB, Grasim, SAIL and HDFC.
May 2nd, 2008
May 1st is May Day and most equity and debt markets across the world closed.
Happy May Day!!
May 1st, 2008
After some trouble days in the stock markets, investors seems to have lost confidence a bit and trying to stay away from New Fund Offers from Mutual Funds. This is because of the fact that almost all recently launched NFOs are in the negative NAV. Of course, even the senior fund schemes too are tasting trouble times after the recent correction in both the domestic and the global markets. With the US economy in a possible recession, crude oil touching newer highs every day, just few months of Indian Elections, the stock markets, it seems, wont go in for a huge rallies at least for some time now. Needless to stay, even the most cautious Mutual Fund investor too is trying to stay cautious and this is appearing from the inflow of the Mutual Fund NFOs. Are the good days for the NFOs over for some time now? or aren’t the marketing campaigns of the mutual fund houses not looking that savvy? Let’s wait and see..
April 30th, 2008
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