The market drifted lower in what was a choppy trading session. The market suffered sharp loses in afternoon trade as the sentiment was dampened by the Reserve Bank of India (RBI) keeping key rates - repo rate, reverse repo rate, bank rate and cash reserve ratio, unchanged at its quarterly monetary policy review announced today. Sensex fell below the psychological 18,000 level in afternoon trade, but regained that level shortly as buying emerged at lower levels. Earlier, the market had surged in early trade tracking firm Asian markets.
Marketmen were expecting a 25 basis points repo rate cut by Reserve Bank of India following a sharp cut in US interest rates last week. 17 shares from the 30-member Sensex pack advanced. The market breadth was slightly positive. Shares from banking, auto and real estate sector declined. Software shares advanced. Reliance group stocks dominated turnover charts.
European markets which opened after India market, were firm while Asian markets which opened before Indian market settled higher
The 30-share BSE Sensex declined 60.84 points or 0.34% at 18,091.94. It opened with an upward gap of 194 points at 18,346.49 and rose further to touch a high of 18,491.06 in early trade. At the day's high, the Sensex had risen 338.28 points. It hit a day's low of 17,927.92 in afternoon trade. At the day's low, the Sensex lost 224.86 points for the day. It oscillated in a range of 563.14 points for the day.
The Sensex is now down 3114.83 points or 14.68% from its all-time high of 21206.77 hit on 10 January 2008. The S&P CNX Nifty is down 1076.30 points or 16.46% from its record high of 6357.10 hit on 8 January 2008.
Nifty today rose 6.70 points or 0.13% at 5,280.80. Nifty January 2008 futures were at 5276.10, a discount of 4.70 points as compared to spot closing. The market may see high volatility ahead of the expiry of January 2008 derivative contracts on Thursday, 31 January 2008.
Third quarter December 2007 results so far have been decent. A total of 1184 companies reported 33.90% rise in net profit on 22.40% rise in net sales for Q3 December 2007 over Q3 December 2006.
In a statement, RBI said the emphasis is on price stability and well-anchored inflation expectations while ensuring a monetary and interest rate environment conducive to continuation of the growth momentum and orderly conditions in financial markets. RBI also said it will monitor the evolving heightened global uncertainties and domestic situation impinging on inflation expectations, financial stability and growth momentum in order to respond swiftly with both conventional and unconventional measures, as appropriate.
Reserve Bank of India (RBI) said that while underlying fundamentals of the economy remained strong and resilient and the outlook was positive, there were external risks to growth.
The total turnover on BSE was Rs 4781 crore as compared to Rs 3,923.76 crore yesterday, 28 January 2008
Turnover on NSE's futures & options segment rose to Rs 56019.95 crore as compared to Rs 43395.88 crore yesterday, 28 January 2008.
The market breadth was slightly positive on BSE with 1394 shares declining as compared to 1348 that advanced. 53 shares remained unchanged.
The BSE Mid-Cap index was up 0.43% to 8,021.24 while the BSE Small-Cap index was up 0.72% to 10,378.01, as per provisional closing. Both these indices outperformed Sensex.
BSE FMCG index (up 2.67% at 2,205.71), BSE Oil & Gas index (up 0.94% at 11,181.77), BSE Health Care index (up 0.62% at 3,668.43), BSE Consumer Durables index (up 0.38% to 5,278.68), BSE Auto (down 0.05% at 4,923.74), BSE IT index (up 1.93% at 3,730.67) and BSE TecK index (up 0.63% to 3,320.78), BSE Power index (up 0.60% at 3,936.16), BSE Metal index (up 0.63% at 15,540.75), outperformed Sensex
BSE Bankex (down 3.48% at 11,120.42), BSE Capital Goods index (down 0.90% at 16,962.06), BSE Realty index (down 2.70/% at 10,401.07), BSE PSU index (down 0.97% to 8,460.94), underperformed the Sensex
Banking shares slipped after early surge. India's largest private sector bank in terms of net profit ICICI Bank lost 3.90% to Rs 1224 on 9.56 lakh shares. It was the top loser from Sensex pack.
State Bank of India (down 3.54% to Rs 2226, off day's high of Rs 2350), and HDFC Bank (down 3.77% to Rs 1525.25, off day's high of Rs 1635) were also subdued.
Shares of mid-cap banks also suffered losses. Centurion Bank of Punjab (down 2.30% to Rs 57.45), Syndicate Bank (down 3.10% to Rs 102.70), Bank of India (down 6.91% to Rs 381.80), Oriental Bank of Commerce (down 6.13% to Rs 264), slipped
India's second largest bike manufacturer in terms of sales, Bajaj Auto staged a solid recovery in late trade after hitting a low of Rs 2300 earlier in the day. It settled 2.82% lower at Rs 2390. The stock had surged to Rs 2449 in early trade.
DLF (down 0.75% to Rs 885.80), Unitech (down 5.69% to Rs 387), and Parsvnath Developers (down 0.81% to Rs 293.20), declined from real estate pack.
Larsen & Toubro (down 1.95% to Rs 3769.45), Bharati Airtel (down 1.56% to Rs 865), and ACC (down 1.02% to Rs 790.50), edged lower from the Sensex pack.
India's top small car maker in terms of sales, Maruti Suzuki India staged a sharp recovery from day's low of Rs 815.50. It closed with 0.21% loss at Rs 860.80. The company today posted 24.07% rise in net profit to Rs 467.04 crore on 27.23% rise in total income rose 27.23% to Rs 4,844.8 crore crore in Q3 December 2007 over Q3 December 2006.
India's biggest FMCG company in terms of sales, Hindustan Unilever surged 4.31% to Rs 207.95 on 1.96 lakh shares. It was the top gainer from Sensex pack.
Cipla (up 3.71% to Rs 191.45), Tata Steel (up 2.52% to Rs 716), and ITC (up 2.37% to Rs 201), were the other gainers from Sensex pack.
Software pivotals showed strength. Infosys Technologies (up 3.35% to Rs 1495), Wipro (up 1.55% to Rs 412.50), TCS (up 0.80% to Rs 861), rose.
India's largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) was up marginally by 0.07% to Rs 2565.80, off day's high of Rs 2622. 5.43 lakh shares changed hands on the counter in early trade on BSE. As per recent reports RIL plans to foray in engineering, procurement and construction business to clock a turnover of Rs 5,000 crore in first year itself and double it in second year.
Reliance group stocks dominated turnover charts on BSE. Reliance Natural Resources was the turnover topper on BSE with turnover of Rs 293 crore followed by Essar Oil (Rs 288.35 crore), Reliance Energy (Rs 182.25 crore), Reliance Petroleum (Rs 156.50 crore) and Reliance Industries (Rs 140.75 crore) in that order.
Reliance Natural Resources led the volume chart with volumes of 1.98 crore shares followed by Himachal Futuristic Communications (1.84 crore shares), Essar Oil (1.20 crore share), Ispat Industries (93.25 lakh shares) and Reliance Petroleum (91.25 lakh shares) in that order.
Among the side counters, Aarti Industries (up 20% to Rs 42.65), Ador Fontech (up 13.95% to Rs 122.50), Nitin Fire Protection Systems (up 18.26% to Rs 525), Vinyl Chemicals (up 13.73% to Rs 21.55), and SEL Manufacturing Classic Diamonds (up 12.72% to Rs 93.90), surged
Indian Hotels Company rose 1.03% to Rs 141.65. It posted 52.9% surge in net profit to Rs 134.58 crore on 27.10% rise in net sales to Rs 520.62 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours on Monday, 28 January 2008.
Suzlon Energy surged 7.57% to Rs 338.45 after it posted 91.89% jump in net profit to Rs 338.18 crore on 49.47% surge in total income to Rs 1,683.16 crore in Q3 December 2007 over Q3 December 2006. The company announced the results during the market hours today, 29 January 2008.
Steel Authority of India slipped 0.58% to Rs 215.40. It today posted 31.5% rise in net profit to Rs 1,934.66 croreon 12.41% rise in total income rose 12.41% to Rs 9,847.64 crore crore in Q3 December 2007 over Q3 December 2006.
National Aluminium Company rose 1.02% to Rs 415. It today reported 42.46% decline in net profit to Rs 329.44 crore on 23.98% fall in total income to Rs 1,247.26 crore in Q3 December 2007 over Q3 December 2006.
Hindustan Petroleum Corporation declined 2.59% to Rs 258. Yesterday, 28 January 2008, the company reported net loss of Rs 15.73 crore on 22.40% rise in net sales to Rs 27,117.01 crore in Q3 December 2007 over Q3 December 2006.
HCL Infosystems slipped 1.08% to Rs 200.85. It reported 139.3% surge in net profit to Rs 83.19 crore in on 434.80% spurt in net sales to Rs 3260.36 crore in Q2 December 2007 over Q2 December 2006. The results were announced during trading hours on Monday, 28 January 2008.
Great Eastern Shipping Company rose 0.92% to Rs 410 on reporting 77% surge in net profit to Rs 293.57 crore on 43.20% rise in total income to Rs 744.28 crore in Q3 December 2007 over Q3 December 2006. The results were announced during trading hours today, 29 January 2008.
Britannia Industries gained 0.33% to Rs 1454 on reporting 176.8% surge in net profit to Rs 45.40 crore on 15.47% rise in net sales to Rs 656.40 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours on Monday, 28 January 2008.
Sundaram Finance gained 1.21% to Rs 699.95 after company proposed to invest a sum of Rs 7.35 crore in the paid-up capital of Sundaram Hydraulics. Sundaram Hydraulics is setting up a project for manufacture of hydraulic cylinders.
Jet Airways India advanced 1.41% to Rs 763 after it reported net loss of Rs 91.12 crore in Q3 December 2007 as compared to net profit of Rs 40.04 crore in Q3 December 2006. The results were announced after trading hours on Monday, 28 January 2008.
Rashtriya Chemicals & Fertilizers rose 3.62% to Rs 94.50 despite posting 6.9% decline in net profit to Rs 60.12 crore. The company announced the results after market hours on Monday, 28 January 2008.
Global Broadcast News rose 2.15% to Rs 1050. It set 28 February 2008 as the record date for a 5-for-1 stock split.
HTMT Global Solutions rose 6.14% to Rs 350 on posting 15.09% rise in net profit to Rs 17.08 crore on 9.74% rise in net sales to Rs 95.37 crore in Q3 December 2007 over Q2 September 2007. The company announced the results after market hours on Monday, 28 January 2008.
European markets which opened after India market, were firm. Key benchmark indices in United Kingdom (up 1.40% to 5,869.80), France (up 1.63% to 4,927.45), and Germany (up 0.95% to 6,883.59), edged higher
Asian markets were trading firm today, 29 January 2008. Hong Kong's Hang Seng (up 0.99% at 24,291.80), Japan's Nikkei (up 2.99% at 13,478.66), China's Shanghai Composite (up 0.87% to 4,457.95), South Korea's Seoul Composite (up 0.66% at 1,637.91), and Taiwan's Taiwan Weighted (up 1.21% at 7,576.42) advanced
US markets surged from lower levels on Monday, 28 January 2008, on broad based buying. Financials showed significant strength, leading a late-day surge after odds increased that the Federal Reserve will cut rates in an effort to support a slowing economy. The Dow Jones industrial average gained 176.72 points, or 1.45%, to 12,383.89. The Standard & Poor's 500 index shot up 23.36 points or 1.76%, to 1,353.97, while the Nasdaq Composite index advanced 23.71 points, or 1.02%, to 2,349.91.
Crude oil prices rose today, 29 January 2008 despite concerns that crude demand may be hit by fears of a US-led economic slowdown. New York's main oil futures contract, light sweet crude for delivery in March, rose 12 cents to $91.11 per barrel.
Marketmen were expecting a 25 basis points repo rate cut by Reserve Bank of India following a sharp cut in US interest rates last week. 17 shares from the 30-member Sensex pack advanced. The market breadth was slightly positive. Shares from banking, auto and real estate sector declined. Software shares advanced. Reliance group stocks dominated turnover charts.
European markets which opened after India market, were firm while Asian markets which opened before Indian market settled higher
The 30-share BSE Sensex declined 60.84 points or 0.34% at 18,091.94. It opened with an upward gap of 194 points at 18,346.49 and rose further to touch a high of 18,491.06 in early trade. At the day's high, the Sensex had risen 338.28 points. It hit a day's low of 17,927.92 in afternoon trade. At the day's low, the Sensex lost 224.86 points for the day. It oscillated in a range of 563.14 points for the day.
The Sensex is now down 3114.83 points or 14.68% from its all-time high of 21206.77 hit on 10 January 2008. The S&P CNX Nifty is down 1076.30 points or 16.46% from its record high of 6357.10 hit on 8 January 2008.
Nifty today rose 6.70 points or 0.13% at 5,280.80. Nifty January 2008 futures were at 5276.10, a discount of 4.70 points as compared to spot closing. The market may see high volatility ahead of the expiry of January 2008 derivative contracts on Thursday, 31 January 2008.
Third quarter December 2007 results so far have been decent. A total of 1184 companies reported 33.90% rise in net profit on 22.40% rise in net sales for Q3 December 2007 over Q3 December 2006.
In a statement, RBI said the emphasis is on price stability and well-anchored inflation expectations while ensuring a monetary and interest rate environment conducive to continuation of the growth momentum and orderly conditions in financial markets. RBI also said it will monitor the evolving heightened global uncertainties and domestic situation impinging on inflation expectations, financial stability and growth momentum in order to respond swiftly with both conventional and unconventional measures, as appropriate.
Reserve Bank of India (RBI) said that while underlying fundamentals of the economy remained strong and resilient and the outlook was positive, there were external risks to growth.
The total turnover on BSE was Rs 4781 crore as compared to Rs 3,923.76 crore yesterday, 28 January 2008
Turnover on NSE's futures & options segment rose to Rs 56019.95 crore as compared to Rs 43395.88 crore yesterday, 28 January 2008.
The market breadth was slightly positive on BSE with 1394 shares declining as compared to 1348 that advanced. 53 shares remained unchanged.
The BSE Mid-Cap index was up 0.43% to 8,021.24 while the BSE Small-Cap index was up 0.72% to 10,378.01, as per provisional closing. Both these indices outperformed Sensex.
BSE FMCG index (up 2.67% at 2,205.71), BSE Oil & Gas index (up 0.94% at 11,181.77), BSE Health Care index (up 0.62% at 3,668.43), BSE Consumer Durables index (up 0.38% to 5,278.68), BSE Auto (down 0.05% at 4,923.74), BSE IT index (up 1.93% at 3,730.67) and BSE TecK index (up 0.63% to 3,320.78), BSE Power index (up 0.60% at 3,936.16), BSE Metal index (up 0.63% at 15,540.75), outperformed Sensex
BSE Bankex (down 3.48% at 11,120.42), BSE Capital Goods index (down 0.90% at 16,962.06), BSE Realty index (down 2.70/% at 10,401.07), BSE PSU index (down 0.97% to 8,460.94), underperformed the Sensex
Banking shares slipped after early surge. India's largest private sector bank in terms of net profit ICICI Bank lost 3.90% to Rs 1224 on 9.56 lakh shares. It was the top loser from Sensex pack.
State Bank of India (down 3.54% to Rs 2226, off day's high of Rs 2350), and HDFC Bank (down 3.77% to Rs 1525.25, off day's high of Rs 1635) were also subdued.
Shares of mid-cap banks also suffered losses. Centurion Bank of Punjab (down 2.30% to Rs 57.45), Syndicate Bank (down 3.10% to Rs 102.70), Bank of India (down 6.91% to Rs 381.80), Oriental Bank of Commerce (down 6.13% to Rs 264), slipped
India's second largest bike manufacturer in terms of sales, Bajaj Auto staged a solid recovery in late trade after hitting a low of Rs 2300 earlier in the day. It settled 2.82% lower at Rs 2390. The stock had surged to Rs 2449 in early trade.
DLF (down 0.75% to Rs 885.80), Unitech (down 5.69% to Rs 387), and Parsvnath Developers (down 0.81% to Rs 293.20), declined from real estate pack.
Larsen & Toubro (down 1.95% to Rs 3769.45), Bharati Airtel (down 1.56% to Rs 865), and ACC (down 1.02% to Rs 790.50), edged lower from the Sensex pack.
India's top small car maker in terms of sales, Maruti Suzuki India staged a sharp recovery from day's low of Rs 815.50. It closed with 0.21% loss at Rs 860.80. The company today posted 24.07% rise in net profit to Rs 467.04 crore on 27.23% rise in total income rose 27.23% to Rs 4,844.8 crore crore in Q3 December 2007 over Q3 December 2006.
India's biggest FMCG company in terms of sales, Hindustan Unilever surged 4.31% to Rs 207.95 on 1.96 lakh shares. It was the top gainer from Sensex pack.
Cipla (up 3.71% to Rs 191.45), Tata Steel (up 2.52% to Rs 716), and ITC (up 2.37% to Rs 201), were the other gainers from Sensex pack.
Software pivotals showed strength. Infosys Technologies (up 3.35% to Rs 1495), Wipro (up 1.55% to Rs 412.50), TCS (up 0.80% to Rs 861), rose.
India's largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) was up marginally by 0.07% to Rs 2565.80, off day's high of Rs 2622. 5.43 lakh shares changed hands on the counter in early trade on BSE. As per recent reports RIL plans to foray in engineering, procurement and construction business to clock a turnover of Rs 5,000 crore in first year itself and double it in second year.
Reliance group stocks dominated turnover charts on BSE. Reliance Natural Resources was the turnover topper on BSE with turnover of Rs 293 crore followed by Essar Oil (Rs 288.35 crore), Reliance Energy (Rs 182.25 crore), Reliance Petroleum (Rs 156.50 crore) and Reliance Industries (Rs 140.75 crore) in that order.
Reliance Natural Resources led the volume chart with volumes of 1.98 crore shares followed by Himachal Futuristic Communications (1.84 crore shares), Essar Oil (1.20 crore share), Ispat Industries (93.25 lakh shares) and Reliance Petroleum (91.25 lakh shares) in that order.
Among the side counters, Aarti Industries (up 20% to Rs 42.65), Ador Fontech (up 13.95% to Rs 122.50), Nitin Fire Protection Systems (up 18.26% to Rs 525), Vinyl Chemicals (up 13.73% to Rs 21.55), and SEL Manufacturing Classic Diamonds (up 12.72% to Rs 93.90), surged
Indian Hotels Company rose 1.03% to Rs 141.65. It posted 52.9% surge in net profit to Rs 134.58 crore on 27.10% rise in net sales to Rs 520.62 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours on Monday, 28 January 2008.
Suzlon Energy surged 7.57% to Rs 338.45 after it posted 91.89% jump in net profit to Rs 338.18 crore on 49.47% surge in total income to Rs 1,683.16 crore in Q3 December 2007 over Q3 December 2006. The company announced the results during the market hours today, 29 January 2008.
Steel Authority of India slipped 0.58% to Rs 215.40. It today posted 31.5% rise in net profit to Rs 1,934.66 croreon 12.41% rise in total income rose 12.41% to Rs 9,847.64 crore crore in Q3 December 2007 over Q3 December 2006.
National Aluminium Company rose 1.02% to Rs 415. It today reported 42.46% decline in net profit to Rs 329.44 crore on 23.98% fall in total income to Rs 1,247.26 crore in Q3 December 2007 over Q3 December 2006.
Hindustan Petroleum Corporation declined 2.59% to Rs 258. Yesterday, 28 January 2008, the company reported net loss of Rs 15.73 crore on 22.40% rise in net sales to Rs 27,117.01 crore in Q3 December 2007 over Q3 December 2006.
HCL Infosystems slipped 1.08% to Rs 200.85. It reported 139.3% surge in net profit to Rs 83.19 crore in on 434.80% spurt in net sales to Rs 3260.36 crore in Q2 December 2007 over Q2 December 2006. The results were announced during trading hours on Monday, 28 January 2008.
Great Eastern Shipping Company rose 0.92% to Rs 410 on reporting 77% surge in net profit to Rs 293.57 crore on 43.20% rise in total income to Rs 744.28 crore in Q3 December 2007 over Q3 December 2006. The results were announced during trading hours today, 29 January 2008.
Britannia Industries gained 0.33% to Rs 1454 on reporting 176.8% surge in net profit to Rs 45.40 crore on 15.47% rise in net sales to Rs 656.40 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours on Monday, 28 January 2008.
Sundaram Finance gained 1.21% to Rs 699.95 after company proposed to invest a sum of Rs 7.35 crore in the paid-up capital of Sundaram Hydraulics. Sundaram Hydraulics is setting up a project for manufacture of hydraulic cylinders.
Jet Airways India advanced 1.41% to Rs 763 after it reported net loss of Rs 91.12 crore in Q3 December 2007 as compared to net profit of Rs 40.04 crore in Q3 December 2006. The results were announced after trading hours on Monday, 28 January 2008.
Rashtriya Chemicals & Fertilizers rose 3.62% to Rs 94.50 despite posting 6.9% decline in net profit to Rs 60.12 crore. The company announced the results after market hours on Monday, 28 January 2008.
Global Broadcast News rose 2.15% to Rs 1050. It set 28 February 2008 as the record date for a 5-for-1 stock split.
HTMT Global Solutions rose 6.14% to Rs 350 on posting 15.09% rise in net profit to Rs 17.08 crore on 9.74% rise in net sales to Rs 95.37 crore in Q3 December 2007 over Q2 September 2007. The company announced the results after market hours on Monday, 28 January 2008.
European markets which opened after India market, were firm. Key benchmark indices in United Kingdom (up 1.40% to 5,869.80), France (up 1.63% to 4,927.45), and Germany (up 0.95% to 6,883.59), edged higher
Asian markets were trading firm today, 29 January 2008. Hong Kong's Hang Seng (up 0.99% at 24,291.80), Japan's Nikkei (up 2.99% at 13,478.66), China's Shanghai Composite (up 0.87% to 4,457.95), South Korea's Seoul Composite (up 0.66% at 1,637.91), and Taiwan's Taiwan Weighted (up 1.21% at 7,576.42) advanced
US markets surged from lower levels on Monday, 28 January 2008, on broad based buying. Financials showed significant strength, leading a late-day surge after odds increased that the Federal Reserve will cut rates in an effort to support a slowing economy. The Dow Jones industrial average gained 176.72 points, or 1.45%, to 12,383.89. The Standard & Poor's 500 index shot up 23.36 points or 1.76%, to 1,353.97, while the Nasdaq Composite index advanced 23.71 points, or 1.02%, to 2,349.91.
Crude oil prices rose today, 29 January 2008 despite concerns that crude demand may be hit by fears of a US-led economic slowdown. New York's main oil futures contract, light sweet crude for delivery in March, rose 12 cents to $91.11 per barrel.
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