10 things that money can't buy.
On August 7 we published a feature 10 things that money can't buy. In response Get Ahead reader Gagan Kumar, a corporate training consultant, sent his list of 10 things that money cannot buy. Read on.
Sages down the ages said we must remain happy and contended with what we have. But today's generation and just about everyone in this competitive world are running after one sole thing: money and creation of wealth.
But there are different ways in which different human beings think. For some wealth creation is abundance of money while for some others it could be just living joyfully.
Money or the creation of wealth can give you pleasures of life and help you realise your fantasies. But the big question is: can it provide you joy, peace, prosperity and lead you to megaliving as rightly put forth by famous leadership guru Robin Sharma?
To say that money and subsequent creation of wealth can buy everything is a misnomer. The true fact is money cannot buy everything. Here is a list of what money cannot buy but things that can be cherished over a period of your life perhaps.
1. Vision and mission of your life
The old age by W W Ziege goes like this: 'Nothing can stop the man with the right mental attitude and nothing on earth can help the man with wrong mental attitude'.
Without vision and mission you are like a jet without a flight plan or maybe a brain surgeon operating with a blindfold on. Lasting self mastery and excellence will only come about when you set precise goals and have a clear vision and mission plan in place.
Clear goals are foundation of success and if you do not set clear cut goals then it would be like a ship moving through deep seas without a course. And alas these are not a commodity which can be bought!
2. Networking and building nurtured relationshipsSeptember 25, 2008
You are the centre of your own universe. Where your universe intersects or overlaps someone else's, your lines cross that person's universe. If you could draw a map of the entire universe, you'd have a mesh or a web. Staying in touch and focusing on action is not only important for our evolution but is also a vital need to meet the larger challenges facing us today.
When we join hands with other people and share our dreams, aspirations, concerns and dreams not only do we find inner strength in this kinship but also practical help and ideas to carry out joint initiatives effectively. Remember, together each achieves more.
This is something that has to be cultivated and is not something that can be bought overhand.
3. ValuesSeptember 25, 2008
The highest good in human beings is their own self. This is the love, awareness and bliss of our inner most divine being. Everything worthwhile in life is an expression of this divinity. All that we value is the hidden quest for this divine source: Jack Welch in his book Winning.
Everything we do is based consciously or unconsciously on our values, attitudes and or conceptions of what is good and desirable. They are our inherent notions of what ought to be. Thus values are set of behaviours: specific, nitty-gritty and so descriptive they leave little to imagination.
People must be able to use them as marching orders because they are the how of the mission, the means to the end: Winning. And if u guessed it right folks values is not something which you can buy but what is nurtured by your traditional roots.
More @http://specials.rediff.com/getahead/2008/sep/25slde3.htm
Source:Rediff.com
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27 September 2008
Sensex plunges by 940 pts on global financial crisis (Week basis)
Sensex plunges by 940 pts on global financial crisis
The delay in passage of a US bailout package for ailing financial markets and shut down of America's second largest bank caused a global meltdown with Indian bourses crumbling by a huge 940 points, biggest point-wise fall in the last 25-week, in the week under review. Even as the US administration continued its debate on a $ US 700-bn rescue package for the shattered financial system, the on-going credit crisis claimed yet another victim leading to across the board sell-off in the stock markets.
The US regulators on Thursday seized the 119-year-old Washington Mutual Inc, a leading savings and loan bank in the US, and sold its banking operations to JP Morgan Chase for 1.9 bn dollars. In the week to September 27, the Bombay Stock Exchange 30-share barometer tumbled by 940.14 points or 6.70 per cent to end the week at 13,102.18 against its last weekend's close. Similarly, the broader 50-share Nifty of the National Stock Exchange nosedived by 260 points or 6.12 per cent to close the week at 3,985.25 from its last weekend's close. Analysts said political squabbling blocked the potential deal on a bailout proposal, on which investors globally have pinned their hopes for revival in the markets. Domestic markets witnessed a relief rally on Wednesday as the bellwether Sensex recovered by about 122 points on some short-covering of positions ahead of the expiry of derivatives series on Thursday.
Market falls on US bailout concern; Nifty seen at 3400
3 firms eye 51% in NTPC-BHEL JV
Rupee hits week's low at 46.54
HCL counter Infosys' bid for Axon
Indians lead world in millionaire growth: Report
Sterlite Tech bags Rs 254 cr order from PGCIL
Educomp gets Rs 109-cr contract from Karnataka Govt
India has adequate rice, wheat stocks, says government
JP Morgan plans $800 mn-1 bn PE investment in India
Invesors may invest $21-billion in FY 09
CLSA Research maintains 'buy' on HDFC
Top 10 US bank failures
7 worst habits of workaholics
Deutsche Bank picking up stake in BPL
LIC to get reasonable time to shed excess stake
US's sixth largest bank Wachovia looking for buyers: Report
US lawmaker sees bailout agreement by tomorrow
US House postpones vote on Indo-US nuclear deal
NEWS DIGEST: Most read stories this week
Forex reserves up by $2.5 bn
Source:ET,BS
The delay in passage of a US bailout package for ailing financial markets and shut down of America's second largest bank caused a global meltdown with Indian bourses crumbling by a huge 940 points, biggest point-wise fall in the last 25-week, in the week under review. Even as the US administration continued its debate on a $ US 700-bn rescue package for the shattered financial system, the on-going credit crisis claimed yet another victim leading to across the board sell-off in the stock markets.
The US regulators on Thursday seized the 119-year-old Washington Mutual Inc, a leading savings and loan bank in the US, and sold its banking operations to JP Morgan Chase for 1.9 bn dollars. In the week to September 27, the Bombay Stock Exchange 30-share barometer tumbled by 940.14 points or 6.70 per cent to end the week at 13,102.18 against its last weekend's close. Similarly, the broader 50-share Nifty of the National Stock Exchange nosedived by 260 points or 6.12 per cent to close the week at 3,985.25 from its last weekend's close. Analysts said political squabbling blocked the potential deal on a bailout proposal, on which investors globally have pinned their hopes for revival in the markets. Domestic markets witnessed a relief rally on Wednesday as the bellwether Sensex recovered by about 122 points on some short-covering of positions ahead of the expiry of derivatives series on Thursday.
Market falls on US bailout concern; Nifty seen at 3400
3 firms eye 51% in NTPC-BHEL JV
Rupee hits week's low at 46.54
HCL counter Infosys' bid for Axon
Indians lead world in millionaire growth: Report
Sterlite Tech bags Rs 254 cr order from PGCIL
Educomp gets Rs 109-cr contract from Karnataka Govt
India has adequate rice, wheat stocks, says government
JP Morgan plans $800 mn-1 bn PE investment in India
Invesors may invest $21-billion in FY 09
CLSA Research maintains 'buy' on HDFC
Top 10 US bank failures
7 worst habits of workaholics
Deutsche Bank picking up stake in BPL
LIC to get reasonable time to shed excess stake
US's sixth largest bank Wachovia looking for buyers: Report
US lawmaker sees bailout agreement by tomorrow
US House postpones vote on Indo-US nuclear deal
NEWS DIGEST: Most read stories this week
Forex reserves up by $2.5 bn
Source:ET,BS
26 September 2008
Sensex plummets 445 pts as US financial crisis deepens
Sensex plummets 445 pts as US financial crisis deepens
On expectations that the bailout package would take some pressure off the market, the Wall Street had ended on a firm note yesterday. But there were negative triggers galore when trading commenced on the major Indian bourses this morning.
Astro predictions on Sensex
The fall of Washington Mutual, uncertainties over the fate of the $700 billion bailout plan mooted by the US government to cure the ailing financial sector, weak economic data - not surprisingly all the negative news flowed in from United States - set the platform for the bears to launch an all-out assault on stocks this morning. As if they were not enough, Asian markets were trading weak (they subsequently ended with sharp losses) and as the session progressed the mood turned still more bearish due to weakness exhibited by European markets.
How to find out the right price of a stock?
The Sensex, which crashed to a low of 13,054.42 in late afternoon trade, ended the day at 13,102.18 with a huge loss of 445 points or 3.28%. The Nifty closed with a loss of 125.30 points or 3.05% at 3985.25, around 15 points off its intra-day low of 3970.35.
Realty, bank, metal, capital goods, power, information technology, auto and oil stocks, all got a beating today. Losses recorded by realty stocks were more pronounced. Mirroring this, the Realty index went down by as much as 6.33% today. The Bankex eased by 4.27%. BSE Metal lost 4.76% and the Capital Goods index declined 4.1%.
Stockometer
Reflecting the erosion in prices of power, IT, PSU, auto and oil stocks, the respective sectoral indices ended lower by 3% - 3.5%. BSE Teck lost nearly 3%. The Consumer Durables and Healthcare indices eased by 2.22% and 1.55% respectively. The FMCG barometer outperformed the market and finished with a sharp gain of 0.96%.
Top gainers
From the Sensex pack, only ITC (2.05%), Hindustan Unilever (1.2%) and ACC (0.45%) ended on a positive note today. Among Nifty stocks, Tata Communications moved up by 5.9%. Cipla, Sun Pharmaceuticals and GAIL India posted modest gains and Zee Entertainment edged up marginally.
Worst losers
Ranbaxy Laboratories slipped by over 8% amid reports of US President's Emergency Plan for AIDS Relief (PEPFAR) suspension of funding for three of its generic HIV/AIDS drugs. Sterlite Industries ended with a loss of 6.25%. ICICI Bank, Grasim Industries, Hindalco, Mahindra & Mahindra, BHEL and DLF lost 5% - 6%.
Tata Steel, Reliance Communications, Maruti Suzuki, HDFC Bank, State Bank of India, Larsen & Toubro, Infosys Technologies, HDFC, ONGC, Reliance Infrastructure and Reliance Industries declined by 3% - 5%.
NTPC, Tata Motors, Wipro, Bharti Airtel, Jaiprakash Associates, Satyam Computer Services, Tata Power and Tata Consultancy Services also closed with sharp losses.
Unitech lost nearly 8% today. SAIL and Siemens eased by over 6%. HCL Technologies lost 5.3%. ABB, Nalco, Suzlon Energy, Punjab National Bank, Ambuja Cements, Reliance Petroleum, BPCL, Idea Cellular, Power Grid Corporation and Hero Honda also ended with sharp losses.
Akruti City (down 16.7%) was the biggest loser in BSE 'A' Group. Gujarat Petronet tumbled 11.35%. Gujarat NRE Coke, Aban Offshore, Century Textiles, Lanco Infratech and India Bulls Financial Services lost 9% - 10%.
HDIL, Bombay Dyeing, Tata Chemicals, Praj Industries, Indian Overseas Bank, Financial Technologies, Voltas, IFCI, Jindal Steel, Chambal Fertilizers and Patni Computer ended lower by 7% - 9%.
Sterlite Technologies, Electrosteel Castings, Ashapura Minechemicals, State Trading Corporation, ICSA, Anant Raj Industries, Madhucon Projects, Bilcare, Orbit Corporation, Ansal Infrastructure, Deccan Aviation, Mahindra Lifespace and Infotech Enterprises were some of the major losers in the midcap space.
The market breadth was very weak. On the BSE, 2172 stocks ended in the negative territory. 442 stocks posted gains and 59 stocks ended flat.
Source:Sify
On expectations that the bailout package would take some pressure off the market, the Wall Street had ended on a firm note yesterday. But there were negative triggers galore when trading commenced on the major Indian bourses this morning.
Astro predictions on Sensex
The fall of Washington Mutual, uncertainties over the fate of the $700 billion bailout plan mooted by the US government to cure the ailing financial sector, weak economic data - not surprisingly all the negative news flowed in from United States - set the platform for the bears to launch an all-out assault on stocks this morning. As if they were not enough, Asian markets were trading weak (they subsequently ended with sharp losses) and as the session progressed the mood turned still more bearish due to weakness exhibited by European markets.
How to find out the right price of a stock?
The Sensex, which crashed to a low of 13,054.42 in late afternoon trade, ended the day at 13,102.18 with a huge loss of 445 points or 3.28%. The Nifty closed with a loss of 125.30 points or 3.05% at 3985.25, around 15 points off its intra-day low of 3970.35.
Realty, bank, metal, capital goods, power, information technology, auto and oil stocks, all got a beating today. Losses recorded by realty stocks were more pronounced. Mirroring this, the Realty index went down by as much as 6.33% today. The Bankex eased by 4.27%. BSE Metal lost 4.76% and the Capital Goods index declined 4.1%.
Stockometer
Reflecting the erosion in prices of power, IT, PSU, auto and oil stocks, the respective sectoral indices ended lower by 3% - 3.5%. BSE Teck lost nearly 3%. The Consumer Durables and Healthcare indices eased by 2.22% and 1.55% respectively. The FMCG barometer outperformed the market and finished with a sharp gain of 0.96%.
Top gainers
From the Sensex pack, only ITC (2.05%), Hindustan Unilever (1.2%) and ACC (0.45%) ended on a positive note today. Among Nifty stocks, Tata Communications moved up by 5.9%. Cipla, Sun Pharmaceuticals and GAIL India posted modest gains and Zee Entertainment edged up marginally.
Worst losers
Ranbaxy Laboratories slipped by over 8% amid reports of US President's Emergency Plan for AIDS Relief (PEPFAR) suspension of funding for three of its generic HIV/AIDS drugs. Sterlite Industries ended with a loss of 6.25%. ICICI Bank, Grasim Industries, Hindalco, Mahindra & Mahindra, BHEL and DLF lost 5% - 6%.
Tata Steel, Reliance Communications, Maruti Suzuki, HDFC Bank, State Bank of India, Larsen & Toubro, Infosys Technologies, HDFC, ONGC, Reliance Infrastructure and Reliance Industries declined by 3% - 5%.
NTPC, Tata Motors, Wipro, Bharti Airtel, Jaiprakash Associates, Satyam Computer Services, Tata Power and Tata Consultancy Services also closed with sharp losses.
Unitech lost nearly 8% today. SAIL and Siemens eased by over 6%. HCL Technologies lost 5.3%. ABB, Nalco, Suzlon Energy, Punjab National Bank, Ambuja Cements, Reliance Petroleum, BPCL, Idea Cellular, Power Grid Corporation and Hero Honda also ended with sharp losses.
Akruti City (down 16.7%) was the biggest loser in BSE 'A' Group. Gujarat Petronet tumbled 11.35%. Gujarat NRE Coke, Aban Offshore, Century Textiles, Lanco Infratech and India Bulls Financial Services lost 9% - 10%.
HDIL, Bombay Dyeing, Tata Chemicals, Praj Industries, Indian Overseas Bank, Financial Technologies, Voltas, IFCI, Jindal Steel, Chambal Fertilizers and Patni Computer ended lower by 7% - 9%.
Sterlite Technologies, Electrosteel Castings, Ashapura Minechemicals, State Trading Corporation, ICSA, Anant Raj Industries, Madhucon Projects, Bilcare, Orbit Corporation, Ansal Infrastructure, Deccan Aviation, Mahindra Lifespace and Infotech Enterprises were some of the major losers in the midcap space.
The market breadth was very weak. On the BSE, 2172 stocks ended in the negative territory. 442 stocks posted gains and 59 stocks ended flat.
Source:Sify
If your idea clicks at Google, get paid up to $10 mn
If your idea clicks at Google, get paid up to $10 mn
Google is turning 10 and has thought of a novel idea to celebrate a decade of its existence. It is working towards changing the world. If you have an idea that could change the world, or at least help a lot of people, the internet giant Google wants you to share it with them. And hold your breath, if the idea rocks and clicks, you get as much as $10 million to make it a reality. Google has named the project "10 to the 100th" and the initiative will seek input from the public and a panel of judges in choosing up to five winning ideas, to be announced in February. "These ideas can be big or small, technology-driven or brilliantly simple -- but they need to have impact," Google said in a news release. "We know there are countless brilliant ideas that need funding and support to come to fruition." Those are ideas such as the Hippo Water Roller, which Google cited as the kind of concept the company would be interested in rewarding. Developed in Africa, where it is most used, the Hippo Water Roller is a barrel-shaped container, attached to a handle, that holds 24 gallons of water and can be rolled with little effort like a wheelbarrow, making it easier for villagers on foot to transport critically needed fresh water to their homes. People are encouraged to submit their ideas, in any of 25 languages, at www.project10tothe100.com through October 20. Entrants must briefly describe their idea and answer six questions, including, "If your idea were to become a reality, who would benefit the most and how?"
Google employees, with the help of an advisory board, will narrow the submissions to 100 semifinalists by January 27. Between January 27 and February 2, the public will vote online for their favorite ideas. A panel of as-yet-unnamed judges will then review the top 20 ideas and announce up to five winners in mid-February. Funding, from a pool of $10 million, will be awarded in May. If the judges decide to reward five winning ideas, each will receive $2 million. If only two ideas are chosen, each will receive $5 million, and so on.
A Google spokeswoman was reluctant to set parameters for the submissions, although the project's Web site suggests that successful ideas should address such issues as providing food and shelter, building communities, improving health, granting more access to education, sustaining the global ecosystem and promoting clean energy. "We don't want to limit it at all. We want a wide range of ideas," said Bethany Poole, product marketing manager at Google, who announced the project Wednesday on CNN along with Andy Berndt, managing director of Google's Creative Lab. "We think great ideas come from anywhere." To cite Google's own example, Google News began after the September 11 terrorist attacks, when an engineer became frustrated that he couldn't aggregate news sources from around the world in one place. By opening the project to anyone -- not just laboratories or universities -- Google is embracing "crowdsourcing," the Internet-age notion that the collective wisdom of mass audiences can be leveraged to find solutions to design tasks. Project "10 to the 100th" is not unlike the Google-sponsored Lunar X PRIZE, a $30 million international competition to safely land a robot on the surface of the moon, travel 500 meters over the lunar surface, and send images and data back to Earth. The first team to land on the moon and complete the mission objectives will be awarded $20 million. At least 16 teams are competing.
-------------------------------------------------
Bush-PM meet as N-deal gets put off by a day
Web will run out of IP addresses by 2010
The Google Android phone is here!
An Indian may bag Economics Nobel this time
Why the rupee is falling against the dollar
India: 2nd hottest FDI spot
Learn all about the subprime crisis
10 additional things money can't buy
10 students who did India proud
Information You Can Use• Announcing CEED 2009• GE Edison challenge• Want to perform in Europe?• PGP in banking & finance• Cultural talent scholarship• PG course in Forestry Mgmt• GATE 2009 announcement• IIML's executive MBA• Interested in journalism?• MPhil, PhD management prog• Fellowships in Media, Biz• BITS Pilani off campus MS• IIM Bangalore's executive PGP• Advanc'edge B-School Tour • For the adventure seeker• United World Colleges intake• UPSC's Medical Services Exam• Scholarships BE, ME students • IIT business challenge• Sikkim Manipal programmes• PanIIT conference• Career in fashion?• SNAP date announced• NITC announces MBA prog
SOurce:Rediff, ET
Google is turning 10 and has thought of a novel idea to celebrate a decade of its existence. It is working towards changing the world. If you have an idea that could change the world, or at least help a lot of people, the internet giant Google wants you to share it with them. And hold your breath, if the idea rocks and clicks, you get as much as $10 million to make it a reality. Google has named the project "10 to the 100th" and the initiative will seek input from the public and a panel of judges in choosing up to five winning ideas, to be announced in February. "These ideas can be big or small, technology-driven or brilliantly simple -- but they need to have impact," Google said in a news release. "We know there are countless brilliant ideas that need funding and support to come to fruition." Those are ideas such as the Hippo Water Roller, which Google cited as the kind of concept the company would be interested in rewarding. Developed in Africa, where it is most used, the Hippo Water Roller is a barrel-shaped container, attached to a handle, that holds 24 gallons of water and can be rolled with little effort like a wheelbarrow, making it easier for villagers on foot to transport critically needed fresh water to their homes. People are encouraged to submit their ideas, in any of 25 languages, at www.project10tothe100.com through October 20. Entrants must briefly describe their idea and answer six questions, including, "If your idea were to become a reality, who would benefit the most and how?"
Google employees, with the help of an advisory board, will narrow the submissions to 100 semifinalists by January 27. Between January 27 and February 2, the public will vote online for their favorite ideas. A panel of as-yet-unnamed judges will then review the top 20 ideas and announce up to five winners in mid-February. Funding, from a pool of $10 million, will be awarded in May. If the judges decide to reward five winning ideas, each will receive $2 million. If only two ideas are chosen, each will receive $5 million, and so on.
A Google spokeswoman was reluctant to set parameters for the submissions, although the project's Web site suggests that successful ideas should address such issues as providing food and shelter, building communities, improving health, granting more access to education, sustaining the global ecosystem and promoting clean energy. "We don't want to limit it at all. We want a wide range of ideas," said Bethany Poole, product marketing manager at Google, who announced the project Wednesday on CNN along with Andy Berndt, managing director of Google's Creative Lab. "We think great ideas come from anywhere." To cite Google's own example, Google News began after the September 11 terrorist attacks, when an engineer became frustrated that he couldn't aggregate news sources from around the world in one place. By opening the project to anyone -- not just laboratories or universities -- Google is embracing "crowdsourcing," the Internet-age notion that the collective wisdom of mass audiences can be leveraged to find solutions to design tasks. Project "10 to the 100th" is not unlike the Google-sponsored Lunar X PRIZE, a $30 million international competition to safely land a robot on the surface of the moon, travel 500 meters over the lunar surface, and send images and data back to Earth. The first team to land on the moon and complete the mission objectives will be awarded $20 million. At least 16 teams are competing.
-------------------------------------------------
Bush-PM meet as N-deal gets put off by a day
Web will run out of IP addresses by 2010
The Google Android phone is here!
An Indian may bag Economics Nobel this time
Why the rupee is falling against the dollar
India: 2nd hottest FDI spot
Learn all about the subprime crisis
10 additional things money can't buy
10 students who did India proud
Information You Can Use• Announcing CEED 2009• GE Edison challenge• Want to perform in Europe?• PGP in banking & finance• Cultural talent scholarship• PG course in Forestry Mgmt• GATE 2009 announcement• IIML's executive MBA• Interested in journalism?• MPhil, PhD management prog• Fellowships in Media, Biz• BITS Pilani off campus MS• IIM Bangalore's executive PGP• Advanc'edge B-School Tour • For the adventure seeker• United World Colleges intake• UPSC's Medical Services Exam• Scholarships BE, ME students • IIT business challenge• Sikkim Manipal programmes• PanIIT conference• Career in fashion?• SNAP date announced• NITC announces MBA prog
SOurce:Rediff, ET
25 September 2008
Mkts close lower on FnO expiry day; Sensex -145 pts
Mkts close lower on F&O expiry day; IT, Realty dip 2%
Markets remained weak throughout the day, though they managed to trim the losses to some extent. They closed lower on the day of F&O expiry for the month of September. Benchmark indices also witnessed some volatility in today's session. Midcap and small cap stocks were also caught in bears grip.
Heavyweights like Bharti Airtel, Reliance Industries, Infosys, SBI, BHEL, ONGC and Wipro exerted pressure on markets. Selling was seen in technology, telecom, realty, power, metal and oil stocks.
The Sensex closed with a loss of 145.34 points or 1.06% at 13,547.18, after showing recovery of 116.5 points from day's low of 13,430.68. The Nifty fell 50.70 points or 1.34%, to settle at 4,105.55. It has recovered 28.05 points from day's low of 4077.50.
S&P CNX Nifty hit a high of 4558 and low of 3799.5 during this September series. S&P CNX Defty hit a high of 3579.25 and low of 2820.95 during this series.
In the derivative segment, rollover was lower in the September series compared to August series. Market wide rollover was at 69.2% as against 83% in last expiry. Nifty rollover stood at 57.39% versus 75% in last expiry.
There was a lack of aggressive short rollovers in Nifty Futures. October Futures ended at a premium of 39 points. Fresh short build up was seen in Suzlon Energy and metals stocks saw short rollovers. Akruti City added 12.6 lakh shares in September series. Its October Futures ended at a discount of 93 points and rollover was at 16%.
Daryl Guppy, Founder and Director of guppytraders.com feels that Nifty is still in fairly strong downturn pattern and sees its range at 3600-4600, interspersed by short rallies. The Sensex is in prolonged downtrend and sees resistance at 14500. Guppy believes that fall below 12500 could take the Sensex down to 10000 levels.
Among the frontliners, Wipro tumbled 4.81%, Ranbaxy Labs -4.70%, Hindalco -4%, Grasim -3.50%, TCS -3.26%, Suzlon Energy -7.39%, Siemens -6.31% and NALCO -5.91%. However, HDFC Bank, ONGC, L&T, Maruti, Reliance Power, Hero Honda and Zee Entertainment.
Total turnover crossed Rs 1-lakh crore mark due to F&O expiry. It stood at Rs 1,03,047.35 crore. This includes Rs 15,291.03 crore from NSE Cash segment, Rs 82,697.69 crore from NSE F&O and balance Rs 5,058.63 crore from BSE Cash segment.
BSE IT Index underperformed other indices, slipped 68.69 points or 2.01% to 3,348.42. Technology stocks have taken a huge beating on the bourses, as Credit Suisse First Boston (CSFB) has said that majority of Indian IT companies are likely to miss dollar revenue guidance. It added that currency movements and weakening global environment will exert pressure. The organisation has downgraded Tata Consultancy Services and Mindtree, both will underperform; it has also downgraded Infosys to neutral. CSFB added that the US recovery will be U-shaped and that would lead to a longer slowdown period for IT companies.
Mphasis, Wipro, HCL Tech and TCS fell 3-5%. MindTree was down 2.9%, Satyam -1.75%, Infosys -1.23% and Tech Mahindra -1.08%.Telecom stocks like Tata Communication, Bharti Airtel, TataTeleservice, MTNL, Reliance Communication and Idea Cellular lost 1-4%.
Realty index also lost ground; fell 76.77 points or 1.96% to 3,840.21. Indiabulls Real, Akruti City, Parsvnath and DLF tumbled 3-5%. Sobha Developer, Peninsula Land and Puravankara Projects fell 2-2.5%.
Power Index slipped by 41.39 points or 1.67% to 2,432. Suzlon Energy fell over 7%, as the company is going to consider raising Rs 1,800 crore via rights issue on September 27. Market was concerned about dilution.
Other power stocks like GVK Power, Power Grid Corp, Tata Power, GMR Infra, Reliance Infra and Torrent Power fell 1-3%.
Metal stocks lost their shine; Index fell 165.19 points or 1.63% to 9,977.10. Sesa Goa, NALCO, Gujarat NRE Coke and Hindalco lost 4-5.5%. Jindal Steel, JindalStainless, Sterlite Inds and Hind Zinc fell 2-3%.
Pharma stocks like Ranbaxy Labs, Matrix Lab, Glenmark, Bilcare, Aurobindo Pharma and Dishman Pharma fell 3-4.7%. Healthcare Index lost 50.55 points or 1.3%, to close at 3,825.56.
FMCG Index went down by 0.98% to 2,168.28. United Breweries, ITC, Dabur India and Britannia were losers.
Oil stocks like Cairn India, Aban Offshore, GAIL, BPCL, Reliance Inds, HPCL and IOC lost ground. Oil & Gas Index tumbled 71.84 points or 0.76% to 9,364.01.
Capital Goods Index closed with a loss of 83.67 points or 0.74% at 11,257.13. Siemens, Havells India, Praj Industries, Kalpataru Power, AIA Engineering, BHEL, Alstom Projects, Elecon Engg and Thermax were losers.
Bankex fell just 0.34%, to settle at 6,863.47. Canara Bank, Yes Bank, Andhra Bank and Kotak Mahindra lost 2-4%. SBI, PNB, Oriental Bank, IDBI Bank, Karnataka Bank and ICICI Bank were other losers.
Auto Index closed flat at 3,852.54. Tata Steel was down by 0.9%; Tata Motors has sold one crore Tata Steel shares, via a block deal at Rs 487 per share, to a group company, reports CNBC-TV18, quoting sources. Tata Sons was the likely buyer.
BSE Midcap Index lost 33.73 points or 0.66% to 5,093.05 and Small Cap Index fell 51.48 points or 0.84% to 6,050.03.
Among the midcap stocks, Sterlite Technologies, Gujarat Mineral, Tanla Solutions, National Fertilisers,IVR Prime, Shoppers Stop and Bajaj Hind fell 5-10%. In the small cap space, Numeric Power, Jayaswal Neco, Sanwaria Agro, Kaveri Seed and Emkay Global fell 6.5-8%.
Markets breadth was weak; about 1057 shares have advanced while 1884 shares have declined. Nearly 237 shares remained unchanged.
Golden Tobacco (erstwhile GTC Industries) went up over 8.5% as the company is likely to demerge its tobacco, realty operations into 2 companies. It will allot 1 share in new demerged company for 1 share held.
On the global front, Asian markets ended slightly mixed. Shanghai rose 3.64% and Kospi 0.38%. However, Nikkei fell 0.9%, Straits Times -1.35%, Taiwan -1.17%, Jakarta -0.72% and Hang Seng -0.15%.
Shanghai Index buoyed by share buybacks by state-owned firms. There are signs of progress in long-awaited market reforms.
European markets were mixed, at 4:30 pm. FTSE was down by 8 points while CAC gained 28 points and DAX 39 points.
US Congress is close to approve $700 billion bailout plan. President Bush has called an emergency meeting on Thursday to hammer out details. Democrats & Republicans in Congress are close to agreement on bailout plan. Dow Jones Futures was up by 0.11% and Nasdaq Futures rose 0.75%.
In the Taiwan markets, FIIs were net sellers to the tune of $56.5 million in trade today.
F&O Snapshot:
Market Wide Rollover: 69.2%; Nifty Rollover: 57.39%
Rollovers Last Expiry : Market-wide rollover 83%; Nifty rollovers 75%
Lack of aggressive short rollovers in Nifty Futures, October Futures end at a premium of 39 points
Fresh short build up in suzlon
Metals stocks see short rollovers
Akruti City adds 12.6 lakh shares in September series (Hugh positions led to expire), October ends at a discount of 93 points, rollover at 16%
F&O turnover at Rs 82697.69 cr vs Rs 67,052cr on Wednesday.
------------------------------------------------
Markets remained weak throughout the day, though they managed to trim the losses to some extent. They closed lower on the day of F&O expiry for the month of September. Benchmark indices also witnessed some volatility in today's session. Midcap and small cap stocks were also caught in bears grip.
Heavyweights like Bharti Airtel, Reliance Industries, Infosys, SBI, BHEL, ONGC and Wipro exerted pressure on markets. Selling was seen in technology, telecom, realty, power, metal and oil stocks.
The Sensex closed with a loss of 145.34 points or 1.06% at 13,547.18, after showing recovery of 116.5 points from day's low of 13,430.68. The Nifty fell 50.70 points or 1.34%, to settle at 4,105.55. It has recovered 28.05 points from day's low of 4077.50.
S&P CNX Nifty hit a high of 4558 and low of 3799.5 during this September series. S&P CNX Defty hit a high of 3579.25 and low of 2820.95 during this series.
In the derivative segment, rollover was lower in the September series compared to August series. Market wide rollover was at 69.2% as against 83% in last expiry. Nifty rollover stood at 57.39% versus 75% in last expiry.
There was a lack of aggressive short rollovers in Nifty Futures. October Futures ended at a premium of 39 points. Fresh short build up was seen in Suzlon Energy and metals stocks saw short rollovers. Akruti City added 12.6 lakh shares in September series. Its October Futures ended at a discount of 93 points and rollover was at 16%.
Daryl Guppy, Founder and Director of guppytraders.com feels that Nifty is still in fairly strong downturn pattern and sees its range at 3600-4600, interspersed by short rallies. The Sensex is in prolonged downtrend and sees resistance at 14500. Guppy believes that fall below 12500 could take the Sensex down to 10000 levels.
Among the frontliners, Wipro tumbled 4.81%, Ranbaxy Labs -4.70%, Hindalco -4%, Grasim -3.50%, TCS -3.26%, Suzlon Energy -7.39%, Siemens -6.31% and NALCO -5.91%. However, HDFC Bank, ONGC, L&T, Maruti, Reliance Power, Hero Honda and Zee Entertainment.
Total turnover crossed Rs 1-lakh crore mark due to F&O expiry. It stood at Rs 1,03,047.35 crore. This includes Rs 15,291.03 crore from NSE Cash segment, Rs 82,697.69 crore from NSE F&O and balance Rs 5,058.63 crore from BSE Cash segment.
BSE IT Index underperformed other indices, slipped 68.69 points or 2.01% to 3,348.42. Technology stocks have taken a huge beating on the bourses, as Credit Suisse First Boston (CSFB) has said that majority of Indian IT companies are likely to miss dollar revenue guidance. It added that currency movements and weakening global environment will exert pressure. The organisation has downgraded Tata Consultancy Services and Mindtree, both will underperform; it has also downgraded Infosys to neutral. CSFB added that the US recovery will be U-shaped and that would lead to a longer slowdown period for IT companies.
Mphasis, Wipro, HCL Tech and TCS fell 3-5%. MindTree was down 2.9%, Satyam -1.75%, Infosys -1.23% and Tech Mahindra -1.08%.Telecom stocks like Tata Communication, Bharti Airtel, TataTeleservice, MTNL, Reliance Communication and Idea Cellular lost 1-4%.
Realty index also lost ground; fell 76.77 points or 1.96% to 3,840.21. Indiabulls Real, Akruti City, Parsvnath and DLF tumbled 3-5%. Sobha Developer, Peninsula Land and Puravankara Projects fell 2-2.5%.
Power Index slipped by 41.39 points or 1.67% to 2,432. Suzlon Energy fell over 7%, as the company is going to consider raising Rs 1,800 crore via rights issue on September 27. Market was concerned about dilution.
Other power stocks like GVK Power, Power Grid Corp, Tata Power, GMR Infra, Reliance Infra and Torrent Power fell 1-3%.
Metal stocks lost their shine; Index fell 165.19 points or 1.63% to 9,977.10. Sesa Goa, NALCO, Gujarat NRE Coke and Hindalco lost 4-5.5%. Jindal Steel, JindalStainless, Sterlite Inds and Hind Zinc fell 2-3%.
Pharma stocks like Ranbaxy Labs, Matrix Lab, Glenmark, Bilcare, Aurobindo Pharma and Dishman Pharma fell 3-4.7%. Healthcare Index lost 50.55 points or 1.3%, to close at 3,825.56.
FMCG Index went down by 0.98% to 2,168.28. United Breweries, ITC, Dabur India and Britannia were losers.
Oil stocks like Cairn India, Aban Offshore, GAIL, BPCL, Reliance Inds, HPCL and IOC lost ground. Oil & Gas Index tumbled 71.84 points or 0.76% to 9,364.01.
Capital Goods Index closed with a loss of 83.67 points or 0.74% at 11,257.13. Siemens, Havells India, Praj Industries, Kalpataru Power, AIA Engineering, BHEL, Alstom Projects, Elecon Engg and Thermax were losers.
Bankex fell just 0.34%, to settle at 6,863.47. Canara Bank, Yes Bank, Andhra Bank and Kotak Mahindra lost 2-4%. SBI, PNB, Oriental Bank, IDBI Bank, Karnataka Bank and ICICI Bank were other losers.
Auto Index closed flat at 3,852.54. Tata Steel was down by 0.9%; Tata Motors has sold one crore Tata Steel shares, via a block deal at Rs 487 per share, to a group company, reports CNBC-TV18, quoting sources. Tata Sons was the likely buyer.
BSE Midcap Index lost 33.73 points or 0.66% to 5,093.05 and Small Cap Index fell 51.48 points or 0.84% to 6,050.03.
Among the midcap stocks, Sterlite Technologies, Gujarat Mineral, Tanla Solutions, National Fertilisers,IVR Prime, Shoppers Stop and Bajaj Hind fell 5-10%. In the small cap space, Numeric Power, Jayaswal Neco, Sanwaria Agro, Kaveri Seed and Emkay Global fell 6.5-8%.
Markets breadth was weak; about 1057 shares have advanced while 1884 shares have declined. Nearly 237 shares remained unchanged.
Golden Tobacco (erstwhile GTC Industries) went up over 8.5% as the company is likely to demerge its tobacco, realty operations into 2 companies. It will allot 1 share in new demerged company for 1 share held.
On the global front, Asian markets ended slightly mixed. Shanghai rose 3.64% and Kospi 0.38%. However, Nikkei fell 0.9%, Straits Times -1.35%, Taiwan -1.17%, Jakarta -0.72% and Hang Seng -0.15%.
Shanghai Index buoyed by share buybacks by state-owned firms. There are signs of progress in long-awaited market reforms.
European markets were mixed, at 4:30 pm. FTSE was down by 8 points while CAC gained 28 points and DAX 39 points.
US Congress is close to approve $700 billion bailout plan. President Bush has called an emergency meeting on Thursday to hammer out details. Democrats & Republicans in Congress are close to agreement on bailout plan. Dow Jones Futures was up by 0.11% and Nasdaq Futures rose 0.75%.
In the Taiwan markets, FIIs were net sellers to the tune of $56.5 million in trade today.
F&O Snapshot:
Market Wide Rollover: 69.2%; Nifty Rollover: 57.39%
Rollovers Last Expiry : Market-wide rollover 83%; Nifty rollovers 75%
Lack of aggressive short rollovers in Nifty Futures, October Futures end at a premium of 39 points
Fresh short build up in suzlon
Metals stocks see short rollovers
Akruti City adds 12.6 lakh shares in September series (Hugh positions led to expire), October ends at a discount of 93 points, rollover at 16%
F&O turnover at Rs 82697.69 cr vs Rs 67,052cr on Wednesday.
------------------------------------------------
Inflation holds at 12.14 per cent, Other Biz Headlines
Inflation holds at 12.14 per cent
NEW DELHI: Inflation was reported at 12.14 per cent for the week ended September 13, at the same level recorded a week earlier. While food articles rose by 0.2 per cent, chemical & chemical products were up by 0.1 per cent, and fruit & vegetables by 0.6 per cent. Manufacturing products, however, were down by 0.5 per cent, while fuel, power and light remained unchanged. Economists see inflation stabilising around this level before it starts to fall. However, they expect the RBI to raise interest rates by 25-50 basis point in its October review. Earlier, a Reuters poll on Wednesday estimated the annual inflation rate to head upwards for a second consecutive week with the rise mainly seen in food and vegetables. The wholesale price index was forecast to have risen 12.23 per cent in the 12 months to September 13, above the previous week’s rise of 12.14 per cent, according to the median estimate.
Shubhada Rao, chief economist with Yes Bank, said there was upward pressure on prices of primary articles, especially those of food and vegetables. In early August, the inflation rate was 12.63 per cent, the highest reading since annual numbers in the current data series became available in April 1995. RBI governor Duvvuri Subbarao said early this month that inflation was showing signs of moderating but it was too early to conclude whether this was a trend, signalling he would wait and see before taking any fresh steps. This is the 25th consecutive week that inflation is above the RBI’s 7.0 per cent target by the end of March. The government had earlier said inflation would hit 13 per cent and thereafter start moderating from December, before settling at 8.0-9.0 percent by the end of the fiscal year in March.
-----------------------------------------------
Other Biz Stories:
US near bailout deal; economy stumbles
Bailout deal near as Bush to meet lawmakers
Merrill sees HNI wealth in A-Pac at 13.9 tn by 2012
US economic woes, F&O expiry weigh on markets
HDFC in Forbes Asia's top 50 list
Religare gets SEBI nod for MF biz
RCF mulls foraying into wind power generation
ONGC eyes acquisitions in developing world
BHEL to set up nuke plant in Andhra Pradesh, Gujarat
Ranbaxy among top 100 MNCs having foreign presence
Nifty Oct premium widens on long rollovers, huge put buying at 4100
Golden Tobacco gains 12% on demerger plan
Chinese shares close up 3.64 pct
Nifty Oct premium widens
Autoline acquires 49 pc stake in two Italian firms
HDFC in Forbes Asia's top 50 list
Source:ET
NEW DELHI: Inflation was reported at 12.14 per cent for the week ended September 13, at the same level recorded a week earlier. While food articles rose by 0.2 per cent, chemical & chemical products were up by 0.1 per cent, and fruit & vegetables by 0.6 per cent. Manufacturing products, however, were down by 0.5 per cent, while fuel, power and light remained unchanged. Economists see inflation stabilising around this level before it starts to fall. However, they expect the RBI to raise interest rates by 25-50 basis point in its October review. Earlier, a Reuters poll on Wednesday estimated the annual inflation rate to head upwards for a second consecutive week with the rise mainly seen in food and vegetables. The wholesale price index was forecast to have risen 12.23 per cent in the 12 months to September 13, above the previous week’s rise of 12.14 per cent, according to the median estimate.
Shubhada Rao, chief economist with Yes Bank, said there was upward pressure on prices of primary articles, especially those of food and vegetables. In early August, the inflation rate was 12.63 per cent, the highest reading since annual numbers in the current data series became available in April 1995. RBI governor Duvvuri Subbarao said early this month that inflation was showing signs of moderating but it was too early to conclude whether this was a trend, signalling he would wait and see before taking any fresh steps. This is the 25th consecutive week that inflation is above the RBI’s 7.0 per cent target by the end of March. The government had earlier said inflation would hit 13 per cent and thereafter start moderating from December, before settling at 8.0-9.0 percent by the end of the fiscal year in March.
-----------------------------------------------
Other Biz Stories:
US near bailout deal; economy stumbles
Bailout deal near as Bush to meet lawmakers
Merrill sees HNI wealth in A-Pac at 13.9 tn by 2012
US economic woes, F&O expiry weigh on markets
HDFC in Forbes Asia's top 50 list
Religare gets SEBI nod for MF biz
RCF mulls foraying into wind power generation
ONGC eyes acquisitions in developing world
BHEL to set up nuke plant in Andhra Pradesh, Gujarat
Ranbaxy among top 100 MNCs having foreign presence
Nifty Oct premium widens on long rollovers, huge put buying at 4100
Golden Tobacco gains 12% on demerger plan
Chinese shares close up 3.64 pct
Nifty Oct premium widens
Autoline acquires 49 pc stake in two Italian firms
HDFC in Forbes Asia's top 50 list
Source:ET
24 September 2008
Intraday Stories
Tata Motors begins exit from Singur
Bailout debate rages as Buffett bets on Goldman
Exec pay limits gain support as bailout questioned
US MARKET: Dow slips as bailout worry persists
Anil files Rs 10,000 cr defamation suit against Mukesh
Top 10 Global Brands Richest people of USA
Intervention in case between Ambanis to ensure gas supply: Govt
$13 bn a year needed to achieve gender equality: WB
Women investing in real estate 15 highest paid corporate women
Ben's testimony to Jt Eco Committee
Rupee falls by 20 paise
ECB offers more dollars to EU banks
Fed sets up currency swap facility
BoE offers $40 bn worth of loans
Vedanta halts group restructuring exercise
Reliance shifts focus, eyes producing assets
Simplex Infra bags Rs 630-cr order in Middle-East
Larsen & Toubro gets orders worth $1.1 billion
Shriram EPC gets orders worth Rs 3.15 bn
Ranbaxy drugs in US AIDS programme under scanner
Annual inflation seen at 12.23 pc on Sept 13
Source:ET
Bailout debate rages as Buffett bets on Goldman
Exec pay limits gain support as bailout questioned
US MARKET: Dow slips as bailout worry persists
Anil files Rs 10,000 cr defamation suit against Mukesh
Top 10 Global Brands Richest people of USA
Intervention in case between Ambanis to ensure gas supply: Govt
$13 bn a year needed to achieve gender equality: WB
Women investing in real estate 15 highest paid corporate women
Ben's testimony to Jt Eco Committee
Rupee falls by 20 paise
ECB offers more dollars to EU banks
Fed sets up currency swap facility
BoE offers $40 bn worth of loans
Vedanta halts group restructuring exercise
Reliance shifts focus, eyes producing assets
Simplex Infra bags Rs 630-cr order in Middle-East
Larsen & Toubro gets orders worth $1.1 billion
Shriram EPC gets orders worth Rs 3.15 bn
Ranbaxy drugs in US AIDS programme under scanner
Annual inflation seen at 12.23 pc on Sept 13
Source:ET
Mkts end higher +122 pts; metal, oil, banks, CG stks gain
Mkts end higher; metal, oil, banks, CG stks gain
Short covering ahead of F&O expiry props mkt
Markets have rebounded with small rally in today's session after sharp fall seen on Tuesday and ended higher though they were off day's high. Benchmark indices saw some volatility as well ahead of F&O expiry for the month of September.
Buying was seen in metal, banking, oil, power and capital goods stocks. However, technology stocks remained under pressure throughout the day.
The Sensex rose 122.21 points or 0.9%, to settle at 13,692.52. The Nifty had managed to cross 4200 during the session but failed to sustain above that level. It closed at 4161.25, down 34.35 points or 0.83%. Both indices lost 148.29 points and 46.7 points from day's high of 13,840.81 and 4207.95, respectively.
In the F&O segment, rollovers were low; short rollovers failed to pick up. Nifty rollover was at 43.2% versus 56% and marketwide rollover stood at 50.4% versus 56%. Nifty October futures ended at a 31-point premium and September Futures ended at 28.75-point premium. Fresh long build up was seen in metals stocks; Sterlite October futures added 17 lakh shares in Open Interest. Fresh long build up was also seen in banks.
Among the frontliners, Sterlite Inds rose 8.26%, HDFC Bank 3.18%, Tata Steel 2.77%, Reliance Infra 2.22%, M&M 2.17% and NALCO 5.61%.
BSE Metal Index outperformed other indices, it rose 2.19% or 217.75 points to 10,142.29, led by Sterlite Industries, NALCO, Tata Steel, JindalStainless, Jindal Saw and Hindalco.
Sterlite Industries surged over 15% in an intraday trade, as Vedanta decided to drop its restructuring plan given the changes in global financial markets and investor feedback. However, the company said that it will remain committed to streamlining corporate structure.
Sterlite Industries closed at Rs 487.10, up Rs 37.15 or 8.26%. It traded with volumes of 2,769,125 shares, higher by 135.14% as compared to its 5-day average of 1,177,637 shares.
Madras Aluminium Company (MALCO) locked at 5% upper circuit. There were pending buy orders of 26,889 shares. The stock traded with volumes of 120,694 shares, higher by 137.91% as compared to its 5-day average of 50,730 shares.
Meanwhile, Macquarie feels the announcement on Vedanta’s dropping its restructuring plans is a welcome relief to the shareholders of Sterlite. It maintains a buy on Sterlite. It also believes that the holding structure was not conducive for future growth of the company.
Oil & Gas Index jumped up by 113.87 points or 1.22% to 9,435.85. Reliance Inds, HPCL, IOC, Cairn India, ONGC and BPCL gained 1-1.5%. Crude was hovering around USD 107-108 to a barrel on the NYMEX.
Bankex gained 82.23 points or 1.21%, to close at 6,886.65. IndusInd Bank rose 5%. HDFC Bank, Axis Bank and Allahabad Bank were up 2-3%. Kotak Mahindra, Karnataka Bank and IDBI Bank were up 1-1.7%. Andhra Bank, SBI and ICICI Bank rose around 0.5%.
Power stocks also charged up. Reliance Infrastructure, Torrent Power, GMR Infra, Power Grid Corp, CESC and Tata Power were gainers. Index rose by 26.92 points or 1.1% to 2,473.39.
Capital Goods stocks like BHEL, Alstom Projects, Siemens, BEML, Havells India, Praj Industries and L&T rose 1-1.9%. Index went up by 122 points or 1.09% to 11,340.80. L&T has bagged the order worth Rs 5,000 crore. The stock rose nearly 1%.
FMCG Index was up by 0.35%, to settle at 2,189.68. Britannia, United Spirits, HUL, Dabur India and Marico were gainers.
Realty Index rose marginally by 0.34% to 3,916.98. Akruti City was up nearly 4% as the stock was in F&O curb. Anant Raj Inds, Ansal Properties, Omaxe, Peninsula Land, Mahindra Life, DLF and Parsvnath gained 1-2%.
Healthcare Index closed up by 0.13% at 3,876.11. Auto Index ended flat at 3,849.27. Aventis Pharma, Piramal Health, Fortis Health, Ranbaxy Labs, Cipla and Sun Pharma were up 1.5-2.5%.
However, technology stocks were caught in selling pressure. IT Index plunged 37.94 points or 1.10%, to settle at 3,417.11; it lost nearly 3% during an intraday trade. Wipro lost over 5%. TCS, Infosys and Satyam fell 2-3%.
BSE Midcap was up by 0.26% to 5,126.78 and Small Cap Index gained just 0.14%, to close at 6,101.51.
Market breadth was slightly in favour of advances; about 1481 shares have advanced while 1430 shares declined. Nearly 267 shares remained unchanged.
Total turnover has seen improvement due to F&O segment, stood at Rs 83,171.33 crore. This includes Rs 11,812.96 crore from NSE Cash segment, Rs 67,051.71 crore from NSE F&O and balance Rs 4,306.66 crore from BSE Cash segment.
On the global front, Asian markets ended marginally higher. Shanghai rose 0.70%, Hang Seng 0.47%, Jakarta Composite 0.56%, Nikkei 0.2%, Straits Times 0.04% and Kospi 0.99%. However, Taiwan Weighted 0.8%.
European markets were trading lower. FTSE was down 0.3%, CAC -0.36% and DAX -0.13%, at 4:30 pm. Global concerns are not yet over even after bailout package announced. There are news that bailout package might be limited and may take longer than expected time to pass. FBI is likely to probe Fannie, Freddie, AIG, Lehman Brothers for possible accounting misstatements. Henry Paulson, the US Treasury Secretary, and Ben Bernanke, the Chairman of the Federal Reserve will be appearing before the House Financial Services Committee.
Dow Jones Futures was up 80 points and Nasdaq Futures rose 25 points.
Portfolio Manager PN Vijay feels that if the American system does not start working with the USD 700 billion bailout then there could bee shocks coming in from the credit markets. Global cues will set the trend for India through flows, he said.
F&O Snapshot
Rollovers Low; Short rollovers fail to pick up
Rollovers At D-1 Expiry: Nifty Rolovers at 43.2% Vs 56%, Marketwide Rollovers at 50.4 % Vs 56%
Nifty Oct futures end at a 31pt premium; Sept Futures at a 28.75 pt premium
Fresh Long build up in Metals stocks, Sterlite Oct futures add 17 lakh shares in OI
Fresh long build up seen in banks; IT stocks continue too witness selling pressure
NSE F&O Turnover at Rs 67051.71 Vs 68368.65 on Tuesday
Rollovers
Market Wide: 50.40%
Nifty: 43.20%
Index Heavyweight Rollovers
Reliance Ind 42% SBI 45%
ICICI Bank 46% DLF 46%
Sterlite 46%Infosys 41%
Momemtum stocks
JP Associates 50% Renuka 38%
IFCI 54% TTML 52%
Ispat 50%
Fresh Longs
Sterlite, Tata Steeel, Nalco, HDFC Bank, IDBI Bank
Short Covering
Chambal Fert...
Source:MC
Short covering ahead of F&O expiry props mkt
Markets have rebounded with small rally in today's session after sharp fall seen on Tuesday and ended higher though they were off day's high. Benchmark indices saw some volatility as well ahead of F&O expiry for the month of September.
Buying was seen in metal, banking, oil, power and capital goods stocks. However, technology stocks remained under pressure throughout the day.
The Sensex rose 122.21 points or 0.9%, to settle at 13,692.52. The Nifty had managed to cross 4200 during the session but failed to sustain above that level. It closed at 4161.25, down 34.35 points or 0.83%. Both indices lost 148.29 points and 46.7 points from day's high of 13,840.81 and 4207.95, respectively.
In the F&O segment, rollovers were low; short rollovers failed to pick up. Nifty rollover was at 43.2% versus 56% and marketwide rollover stood at 50.4% versus 56%. Nifty October futures ended at a 31-point premium and September Futures ended at 28.75-point premium. Fresh long build up was seen in metals stocks; Sterlite October futures added 17 lakh shares in Open Interest. Fresh long build up was also seen in banks.
Among the frontliners, Sterlite Inds rose 8.26%, HDFC Bank 3.18%, Tata Steel 2.77%, Reliance Infra 2.22%, M&M 2.17% and NALCO 5.61%.
BSE Metal Index outperformed other indices, it rose 2.19% or 217.75 points to 10,142.29, led by Sterlite Industries, NALCO, Tata Steel, JindalStainless, Jindal Saw and Hindalco.
Sterlite Industries surged over 15% in an intraday trade, as Vedanta decided to drop its restructuring plan given the changes in global financial markets and investor feedback. However, the company said that it will remain committed to streamlining corporate structure.
Sterlite Industries closed at Rs 487.10, up Rs 37.15 or 8.26%. It traded with volumes of 2,769,125 shares, higher by 135.14% as compared to its 5-day average of 1,177,637 shares.
Madras Aluminium Company (MALCO) locked at 5% upper circuit. There were pending buy orders of 26,889 shares. The stock traded with volumes of 120,694 shares, higher by 137.91% as compared to its 5-day average of 50,730 shares.
Meanwhile, Macquarie feels the announcement on Vedanta’s dropping its restructuring plans is a welcome relief to the shareholders of Sterlite. It maintains a buy on Sterlite. It also believes that the holding structure was not conducive for future growth of the company.
Oil & Gas Index jumped up by 113.87 points or 1.22% to 9,435.85. Reliance Inds, HPCL, IOC, Cairn India, ONGC and BPCL gained 1-1.5%. Crude was hovering around USD 107-108 to a barrel on the NYMEX.
Bankex gained 82.23 points or 1.21%, to close at 6,886.65. IndusInd Bank rose 5%. HDFC Bank, Axis Bank and Allahabad Bank were up 2-3%. Kotak Mahindra, Karnataka Bank and IDBI Bank were up 1-1.7%. Andhra Bank, SBI and ICICI Bank rose around 0.5%.
Power stocks also charged up. Reliance Infrastructure, Torrent Power, GMR Infra, Power Grid Corp, CESC and Tata Power were gainers. Index rose by 26.92 points or 1.1% to 2,473.39.
Capital Goods stocks like BHEL, Alstom Projects, Siemens, BEML, Havells India, Praj Industries and L&T rose 1-1.9%. Index went up by 122 points or 1.09% to 11,340.80. L&T has bagged the order worth Rs 5,000 crore. The stock rose nearly 1%.
FMCG Index was up by 0.35%, to settle at 2,189.68. Britannia, United Spirits, HUL, Dabur India and Marico were gainers.
Realty Index rose marginally by 0.34% to 3,916.98. Akruti City was up nearly 4% as the stock was in F&O curb. Anant Raj Inds, Ansal Properties, Omaxe, Peninsula Land, Mahindra Life, DLF and Parsvnath gained 1-2%.
Healthcare Index closed up by 0.13% at 3,876.11. Auto Index ended flat at 3,849.27. Aventis Pharma, Piramal Health, Fortis Health, Ranbaxy Labs, Cipla and Sun Pharma were up 1.5-2.5%.
However, technology stocks were caught in selling pressure. IT Index plunged 37.94 points or 1.10%, to settle at 3,417.11; it lost nearly 3% during an intraday trade. Wipro lost over 5%. TCS, Infosys and Satyam fell 2-3%.
BSE Midcap was up by 0.26% to 5,126.78 and Small Cap Index gained just 0.14%, to close at 6,101.51.
Market breadth was slightly in favour of advances; about 1481 shares have advanced while 1430 shares declined. Nearly 267 shares remained unchanged.
Total turnover has seen improvement due to F&O segment, stood at Rs 83,171.33 crore. This includes Rs 11,812.96 crore from NSE Cash segment, Rs 67,051.71 crore from NSE F&O and balance Rs 4,306.66 crore from BSE Cash segment.
On the global front, Asian markets ended marginally higher. Shanghai rose 0.70%, Hang Seng 0.47%, Jakarta Composite 0.56%, Nikkei 0.2%, Straits Times 0.04% and Kospi 0.99%. However, Taiwan Weighted 0.8%.
European markets were trading lower. FTSE was down 0.3%, CAC -0.36% and DAX -0.13%, at 4:30 pm. Global concerns are not yet over even after bailout package announced. There are news that bailout package might be limited and may take longer than expected time to pass. FBI is likely to probe Fannie, Freddie, AIG, Lehman Brothers for possible accounting misstatements. Henry Paulson, the US Treasury Secretary, and Ben Bernanke, the Chairman of the Federal Reserve will be appearing before the House Financial Services Committee.
Dow Jones Futures was up 80 points and Nasdaq Futures rose 25 points.
Portfolio Manager PN Vijay feels that if the American system does not start working with the USD 700 billion bailout then there could bee shocks coming in from the credit markets. Global cues will set the trend for India through flows, he said.
F&O Snapshot
Rollovers Low; Short rollovers fail to pick up
Rollovers At D-1 Expiry: Nifty Rolovers at 43.2% Vs 56%, Marketwide Rollovers at 50.4 % Vs 56%
Nifty Oct futures end at a 31pt premium; Sept Futures at a 28.75 pt premium
Fresh Long build up in Metals stocks, Sterlite Oct futures add 17 lakh shares in OI
Fresh long build up seen in banks; IT stocks continue too witness selling pressure
NSE F&O Turnover at Rs 67051.71 Vs 68368.65 on Tuesday
Rollovers
Market Wide: 50.40%
Nifty: 43.20%
Index Heavyweight Rollovers
Reliance Ind 42% SBI 45%
ICICI Bank 46% DLF 46%
Sterlite 46%Infosys 41%
Momemtum stocks
JP Associates 50% Renuka 38%
IFCI 54% TTML 52%
Ispat 50%
Fresh Longs
Sterlite, Tata Steeel, Nalco, HDFC Bank, IDBI Bank
Short Covering
Chambal Fert...
Source:MC
Labels:
banks,
CG stks gain,
Mkts end higher +122 pts; metal,
oil
How much adv tax have cos paid for Q2?
How much adv tax have cos paid for Q2?
Grasim’s July-September advance tax is at Rs 75 crore versus Rs 230 crore, reports CNBC-TV18, quoting NewsWire18. Ambuja Cement’s July to September advance tax is at Rs 200 crore versus Rs 175 crore. Tata Power’s July to September advance tax is at Rs 14 crore versus Rs 30.2 crore. Tata Steel’s July to September advance tax is at Rs 1000 crore versus Rs 450 crore. Zee Entertainment’s July to September advance tax is at Rs 32 crore versus Rs 25 crore. Bajaj Auto’s July-September advance tax is at Rs 90 crore versus Rs 125 crore.
Sources said Tata Steel has paid Rs 300 crore as compared to Rs 350 crore, year-on-year. Tata Motors paid Rs 75 crore as against Rs 190 crore YoY, while Tata Consultancy Services paid Rs 115 crore versus Rs 20 crore YoY.
Among banking companies, Bank of India paid Rs 191 crore as compared to Rs 150 crore YoY, sources said. Union Bank paid Rs 130 crore as against Rs 100 crore YoY, while ICICI Bank paid Rs 250 crore versus Rs 185 crore YoY.
Mahindra & Mahindra paid Rs 116 crore as compared to Rs 83 crore YoY, while L&T paid Rs 170 crore versus Rs 80 crore YoY, sources added.
State Bank of India, or SBI, has paid Rs 1,560 crore as advance tax for the September quarter as against Rs 1,060 crore year-on-year, reports CNBC-TV18, quoting sources. Videocon paid Rs 25 crore as against Rs 20 crore YoY. HDFC and Reliance Industries paid Rs 290 crore and Rs 680 crore respectively for the September quarter. RIL had paid Rs 650 crore in the same period last year.
CNBC-TV18 Disclaimer:This information is source-based and has not been provided to the stock exchanges.
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Grasim’s July-September advance tax is at Rs 75 crore versus Rs 230 crore, reports CNBC-TV18, quoting NewsWire18. Ambuja Cement’s July to September advance tax is at Rs 200 crore versus Rs 175 crore. Tata Power’s July to September advance tax is at Rs 14 crore versus Rs 30.2 crore. Tata Steel’s July to September advance tax is at Rs 1000 crore versus Rs 450 crore. Zee Entertainment’s July to September advance tax is at Rs 32 crore versus Rs 25 crore. Bajaj Auto’s July-September advance tax is at Rs 90 crore versus Rs 125 crore.
Sources said Tata Steel has paid Rs 300 crore as compared to Rs 350 crore, year-on-year. Tata Motors paid Rs 75 crore as against Rs 190 crore YoY, while Tata Consultancy Services paid Rs 115 crore versus Rs 20 crore YoY.
Among banking companies, Bank of India paid Rs 191 crore as compared to Rs 150 crore YoY, sources said. Union Bank paid Rs 130 crore as against Rs 100 crore YoY, while ICICI Bank paid Rs 250 crore versus Rs 185 crore YoY.
Mahindra & Mahindra paid Rs 116 crore as compared to Rs 83 crore YoY, while L&T paid Rs 170 crore versus Rs 80 crore YoY, sources added.
State Bank of India, or SBI, has paid Rs 1,560 crore as advance tax for the September quarter as against Rs 1,060 crore year-on-year, reports CNBC-TV18, quoting sources. Videocon paid Rs 25 crore as against Rs 20 crore YoY. HDFC and Reliance Industries paid Rs 290 crore and Rs 680 crore respectively for the September quarter. RIL had paid Rs 650 crore in the same period last year.
CNBC-TV18 Disclaimer:This information is source-based and has not been provided to the stock exchanges.
-------------------------------------
Vedanta committed to simplify structure: Anil Agarwal
Tatas to rollout Nano by Oct, Singur exit likely
US faces grave threat to fin systems: Bernanke
Total order book at $2.5bn: Simplex Infra
Sebi board to meet on Oct 6; may tweak FII norms
US Senate Committee okays Indo-US nuclear deal
Source:MC
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