Archive for the ‘securities’ Category

Sensex Tumbles 216 Points on Weak Global Cues

Stocks dropped on Wednesday, triggered mainly by weak sentiments in Asian markets  on concern over rising dollar, ahead of the expiry of October series of futures and option contracts.

.

European markets saw a gap-down opening, but recovered later, helping the market to gain some ground in the last half-an-hour of trade. The BSE Sensex trimmed 216.02 points, or 1.07 per cent, to close at 20,005.37. Nifty index declined 69.35 points, or 1.14 per cent, to 6,012.65.

.

“Strengthening of the dollar against a basket of major world currencies dragged the market on Wednesday. The Dollar Index, which has an inverse relationship with different assets classes, is rebounding these days. Due to which, investors have turned cautious on equities markets,” said Jagannadham Thunuguntla, head of research at SMC Global Securities.

.

The Dollar Index on Wednesday rose to 77.92 against 76.64 on October 14. Before this, the index was falling continuously from the middle of July.

.

.

There was also speculation that US Federal Reserve’s asset purchase plan may be a disappointing one, said Alex Mathews of Geojit BNP Paribas.

.

“Nifty has a major support at 5,963 while on the upside, it faces resistance at 6,089 level. On Thursday, we are going to see the October F&O expiry. The rollovers at the end of Wednesday’s session was around 45 per cent,” he said.

.

Banking stocks continued to weigh heavy while disappointing results of heavyweight NTPC hurt sentiments on the power counter.

.

Union Bank, ICICI Bank and HDFC Bank fell 5.85 per cent, 2.23 per cent and 1.93 per cent, respectively. SBI inched up 0.41 per cent to Rs 3,193.45. Union Bank on Wednesday posted 40 per cent decline in September quarter PAT to Rs 303 crore compared with the same period a year ago.

.

NTPC fell 3.24 per cent after the company reported 2.07 per cent drop in PAT on 20.46 per cent year-on-year rise in net sales for the September quarter. The results were announced after Tuesday’s trading hours.

.

Among other stocks in news, MRPL rose 1.76 to Rs 83.95 after its Q2 net profit jumped 56.70 per cent to Rs 281.57 crore. ONGC and HPCL, the two stakeholders of the company, dipped 1.80 per cent and 1.42 per cent.

.

Shriram Transport Finance hit an all-time high and rose 3.94 per cent to Rs 89.45 after its net profit surged 44.11 per cent year-on-year to Rs 298.96 crore.

.

.

OUR Websites:  http://www.smcindiaonline.com,http://www.smccapitals.com,
http://www.smctradeonline.comhttp://www.smcwealth.com

.

Share/Bookmark

 

BHEL trades in red despite bagging order worth Rs 3700 crore

Bharat Heavy Electricals(BHEL)is currently trading at Rs. 2,661.50, down by 4.95 points or 0.19% from its previous closing of Rs 2,648.60 on the BSE.

.

 

The scrip opened at Rs 2,668.40 and has touched a high and low of Rs 2,695.00 and Rs 2,655.75 respectively. So far 77,003 shares were traded on the counter.

.

 

The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 2,695.00 on 07-Oct-2010 and a 52 week low of Rs 2,105.00 on 04-Nov-2009.

.

 

Last one week high and low of the scrip stood at Rs 2,695.00 and Rs 2,489.00 respectively. The current market cap of the company is Rs 1,30,334.70 crore.

.

 

The promoters holding in the company stood at 67.72% while Institutions and Non-Institutions held 26.19% and 6.09% respectively.

.

 

State run, Bharat Heavy Electricals (BHEL) has bagged an order from Karnataka Power Corporation (KPCL) valued at Rs 3700 crore. The order bagged is for setting up the 700 MW Supercritical Unit-3 at Bellary Thermal Power Station (TPS) in Karnataka, on turnkey basis. Bellary TPS is already equipped with a BHEL-built 500 MW thermal set (Unit-1) while Unit-2 also of 500 MW, is presently under execution by BHEL.

.

 

With the present order, BHEL has maintained its track record of bagging most of the orders for power generating equipment in Karnataka. The company for bagging this order outbid domestic rival Larsen & Toubro (L&T) under the stiff International Competitive Bidding (ICB).

.

 

In Karnataka, BHEL is also executing the 2×800 MW Yeramarus supercritical TPS of Raichur Power Corporation (RPCL), a joint venture between KPCL and BHEL, which has been set up to build, own and operate supercritical thermal power plants in Karnataka. The company, in total, has commissioned about 5,000 MW of power generating sets in the state, which include thermal as well as hydro units of various ratings.

.

OUR Websites:  http://www.smcindiaonline.com,http://www.smccapitals.com,
http://www.smctradeonline.comhttp://www.smcwealth.com

.

Share/Bookmark

Biocon leads the gainers of group ‘A’ on BSE

Biocon is currently trading at Rs 402.75 , up by 22.10 points or 5.81% from its previous closing of Rs 381.85 on the BSE.

.

 

The scrip opened at Rs. 380.65 and has touched a new high of Rs 412.00 and low of Rs 380.65 respectively. So far 820961 shares were traded on the counter.

.

 

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs 412 on 04-Oct-2010 and a 52 week low of Rs 230.10 on 03-Nov-2009.

.

 

Last one week high and low of the scrip stood at Rs 412.00 and Rs 362.40 respectively. The current market cap of the company is Rs. 8192.00 crore.

.

 

The promoters holding in the company stood at 60.92% while Institutions and Non-Institutions held 17.03% and 22.05% respectively.

.

 

The other top gainers of BSE group ‘A’ were Adani Enterprise up by 4.05%, IRB Infra up by 3.95%, Tata Global Beverages up by 3.80% and Mahindra & Mahindra Financial Service up by 3.69%.

.

.

OUR Websites:  http://www.smcindiaonline.com,http://www.smccapitals.com,
http://www.smctradeonline.comhttp://www.smcwealth.com

.

Share/Bookmark

 

Weekly Update 4th – 8th October 2010

Global markets closed on a mixed note in the week gone by, with Indian markets closing in positive on weekly basis. To send a message to China to raise value of its currency, the U.S. House of Representatives this week approved a bill that would let domestic companies petition for duties on imports from China to compensate for the effect of weak yuan. U.S. Treasury Secretary Timothy F. Geithner said he is confident that tensions over China’s currency, the yuan, won’t lead to escalating trade sanctions or feed into a broader global currency conflict.

.

.

European confidence in the economic outlook unexpectedly improved this month. An index of executive and consumer sentiment in the 16 euro nations rose to 103.2, the highest since January 2008, from a revised 102.3 in August. The European Commission forecasted a more “moderate” expansion in the second half of the year as governments from Ireland to Portugal step up spending cuts to push down deficits. ECB President Jean-Claude Trichet said that there is “continuing uncertainty” about the outlook.

.

China’s manufacturing expanded at the fastest pace in four months in September. According to China’s logistics federation and statistics bureau, the purchasing managers’ index rose to 53.8 from 51.7 in August. The data is viewed very positively by the market as it shows that China’s economic momentum may counter weakness in the global recovery. It is believed that growth may be further aided in coming months as government plans to speed the completion of stimulus projects and boost public housing construction.

.

In Japan, the jobless rate fell to 5.1 percent from 5.2 percent. After intervening few days back in the foreign exchange market in order to stem the yen appreciation, Japan’s Finance Minister reiterated that Japan is ready to keep intervening after selling yen for the first time in six years last month.

.

Core infrastructure industry that account for 26.7 percent of industrial output in India slowed to 3.7 per cent in August, as compared to 6.4 per cent in the same month last year. Going forward we expect the markets would remain firm as it is supported by strong portfolio investments. The best strategy to ride the tide would be stay invested. Nifty has support between 5940-5870 and Sensex between 19640-
19200 levels.

.

Bullions may continue to lead the charge in the commodities counter as both silver and gold recently tested life time highs in MCX. The latest boon to the metal has been increasing expectations that the Federal Reserve will further ease monetary policy with measures including the purchase of Treasuries. Jitters about European sovereign debt problems have also supported gold higher as a safe-haven investment. Better jobless claims data and a revised upward GDP in US supported the crude counter which can make further gains in next coming week. Base metals will take cues from LME as China markets will remain closed for a week. In agro counter pulses along with oilseeds may trade in range while spices can get some support from upcoming festive season. Mentha oil firm export demand and low crop will assist the prices to make fresh high in MCX.

CRUDE OIL ECONOMIC RECOVERY IS HELPING CRUDE RALLY

Crude oil, the life blood of the economy, is rallying to highest levelssince 2008 highs, indicating that the global economy is back on track which is also supported by rise in key global equities markets. In the first quarter of 2010, front-month NYMEX crude prices rose 5.6%.

.

Crude oil prices have negated the hike in dollar index and crude stockpiles in US. Traders have placed fresh bets on a rise in demand affirming a faster pace of economic recovery in the US. Crude prices have more than doubled since dropped below $35 late in 2008, but still significantly lower as compared to the record high neaar $147 a barrel in july 2008.

.

Positive economic indicators of US like PMI, home sales and employment data are showing that economic recovery is back on track and that will increase fuel consumption. Data showing an unexpected increase in pending home sales and a survey result indicating service sector growth added to investors’ confidence in the US economy .

.

The institute of supply management’s non-manufacturing index rose to 55.4 in the month from 53.0 in february, sharper than economists expectation for a modest increase to 53.6.

.

A report from the National Association of Realtors the pending home sales index rose 8.2% to 97.6 in february,  from a downwardly revised 90.2 in the previous month, countering consensus expectations for a 51 decline.

.

According to EIA “Projected economic growth this year is higher in this forecast, with U.S. real GDP growing by 208% and world oil consumption weighted real GDP growing by 3.4%”. Given expected oil demand growth in 2010, oil prices should continue to firm despite expected increase in both non- OPEC and OPEC production this year.

.

According to EIA” projected growth in domestic crude oil production is more moderate in 2010, increasing by about 210,000 bbl/d” Crude oil future outlook looks promising as it is driven mainly with global economic recovery. And summer demand in US will also keep the prices well supported.

How To Get Started in Online Investing? Final Part

Hello Friends here we come up with an extension of our previous blog “How To Get Started in Online Investing?” Part 1.

.

How To Get Started in Online Investing?

.

In previous blog, we have touched upon the questions, any beginner investors do have in their mind while going for investing.

.

At the same time we had also tried to look in previous blog that what is Online Trading, resources needed first of all to invest online, few steps to start investing online and how SMC ONLINE helps investors in reaping the benefits of online trading.

.

In this Blog, we would try to discuss about what are the further steps an investors need to take once the initial registrations are done with.

.

🙂

.

Once the registration formalities are done with, you would be required to load your online investing trading account with funds.

.

Once Funds would be deposited you would need to look out for the stocks on which you would like to invest prima facie.

.

One thing you should bear in mind that before investing, you should do the in-depth research about the company’s profile, performances and services.

.

In this respect investing firms like SMC ONLINE comes to your rescue usually by helping you with their excellent research support, stocks recommendations and quality statistics.

.

These things are really very important while you invest in buying the shares of any company.

As a wise investor you should keep your eyes open, and don’t blindly trust anyone.

.

Another very important thing is RISK FACTOR.

.

You’ll have to take the risk in terms of investing your money in the stock market.

Stock market is a bit similar to gambling.

.

But there is a big difference between the risk and calculated risk.

For a beginner, you should only go for calculated risk.

.

Don’t put your entire money in terms of buying the shares of a new company, even if the future potential of that company seems very high.

.

Start slowly, understand the market, earn some decent amount of money first of all and then go for big trading.

.

Once you have gotten started, you should start by learning a little bit about chart reading.

If you can read the charts you will have a good idea what is going on.

.

And as I said earlier, I would conclude this topic by saying that any beginner investor should look for a broker firm that gives good value for money with their commission fees.

.

🙂

.

Stay Tuned for more and more on this 🙂

.

However For More latest Industry,Stock Market and Economy News Updates, Click Here