Posts Tagged ‘metal stocks’

Stock Markets Reversed Early Losses, Sensex & Metal Stocks..Up :)

India’s benchmark stock index rose the most in a week, reversing earlier losses.

India’s benchmark stock index rose the most in a week, reversing earlier losses.

India’s benchmark stock index rose the most in a week, reversing earlier losses.

Sterlite Industries (India) Ltd. and Hindalco Industries Ltd. led commodity producers higher after metals prices jumped.

Sterlite, the nation’s largest copper producer jumped 3.1 percent after the price of the metal gained and the stock’s rating was lifted at Nomura Holdings Inc.

Hindalco Industries leapt 6.2 percent after aluminum soared.

🙂

The market reversed early losses helped by metal stocks.

Also, gains in Asian and European markets boosted sentiment here.

The Bombay Stock Exchange’s Sensitive Index, or Sensex, added 92.13, or 0.6 percent, the most since Sept. 30, to 16,958.54.

🙂

The gauge had earlier declined as much as 1.5 percent.

The S&P CNX Nifty Index on the National Stock Exchange rose 0.5 percent to 5,027.40.

The BSE 200 Index advanced 0.4 percent to 2,072.31.

🙂

European and Asian stocks gained as higher commodities lifted metal producers, while financial shares advanced after Bank of America Merrill Lynch Global Research recommended European banks.

Europe’s Dow Jones Stoxx 600 Index gained 1.4 percent to 239.19 at 12:26 p.m. in London, while futures on the Standard & Poor’s 500 Index rose 0.8 percent.

The MSCI Asia Pacific Index advanced for the first time in four days today, adding 1.5 percent.

Overseas funds bought a net 13.7 billion rupees ($286.7 million) of Indian stocks on Oct. 1, the Securities and Exchange Board of India said.

The funds have bought 615 billion rupees of Indian stocks this year to date, compared with record net sales of 530 billion rupees for the whole of 2008.

However, Reliance Communications Ltd., India’s second-largest mobile phone operator, led declines by telecom companies on concern lower call charges will cut earnings.

“The price war can impact the revenues of telecom companies by 15 percent to 20 percent,” said Jagannadham Thunuguntla, the head of equities at SMC Capitals Ltd. in New Delhi.

Kotak Securities removed Bharti from its list of 10 most recommended stocks following yesterday’s downgrade.

🙂

On Energy front, Oil & Natural Gas Corp., the biggest energy explorer, added 1.3 percent to 1,184.8 rupees after saying its in talks with Iran’s state-owned Petropars Ltd. to buy a stake in South Pars, the country’s largest natural gas field.

🙂

DAILY EQUITY UPDATE

Equity Update

17 Aug 2009

POST MARKET

The BSE Sensex closed lower by 626.71 points or (4.07%) at 14,784.92 and NSE Nifty ended down by 24.95 points at 4,580.05.

🙂

BSE Mid Caps and Small Caps closed with losses of 218.30 and 200.85 points at 5,385.51 and 6,211.71 respectively.

🙂

The BSE Sensex touched intraday high of 15,284.23 and intraday low of 14,740.63.

Among the Sensex pack all 30 stocks ended in red territory.

The market breadth indicating the overall health of the market remained negative as 1929 stocks closed in red while 674 stocks closed in green and 73 stocks remained unchanged in BSE.

🙂

The S&P CNX Nifty is down by 192.15 points or –4.20 % to 4387.90.

The NSE turnover was down Rs.15425.56 from last trading session’s Rs. 16421.25 crore.

NEWS UPDATES

-Six auto stocks fell on concerns the weak monsoon will slash spending in India’s agricultural regions.

-Fourteen metal stocks fell after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 3.05% to 2,932.70 on 14 August 2009.

-Seven power sector shares fell on reports the power ministry is planning to cap the sale price of electricity sold in the open market if the projects claim tax benefits.

🙂

OUTLOOK

Market opened strongly in red & continued trading in negative zone throughout the day on the back of negative cues from the global indices.

International markets were trading strongly in red & remained in the same territory resultant selling pressure in across the board in our markets too.

Realty, Metal, Auto & Oil and gas got punished heavily.

😦

In the first half of session, we witnessed mixed movement as the market breadth was marginally on the down side but it declined very sharply below crucial support level of 4420 area.

😦

We expect index to hold 4340-4320 levels as the next crucial support zone with possibility of technical bounce in the next session.

🙂

Daily Equity Update

sector watch

*Realty & Metal are the major losers in today’s session 😦

DAILY EQUITY UPDATE 17 Aug 2009

POST MARKET

The BSE Sensex closed lower by 626.71 points or (4.07%) at 14,784.92 and NSE Nifty ended down by 24.95 points at 4,580.05. BSE Mid Caps and Small Caps closed with losses of 218.30 and 200.85 points at 5,385.51 and 6,211.71 respectively. The BSE Sensex touched intraday high of 15,284.23 and intraday low of 14,740.63.

Among the Sensex pack all 30 stocks ended in red territory. The market breadth indicating the overall health of the market remained negative as 1929 stocks closed in red while 674 stocks closed in green and 73 stocks remained unchanged in BSE. The S&P CNX Nifty is down by 192.15 points or –4.20 % to 4387.90.The NSE turnover was down Rs.15425.56 from last trading session’s Rs. 16421.25 crore.

NEWS UPDATES

-Six auto stocks fell on concerns the weak monsoon will slash spending in India’s agricultural regions.

-Fourteen metal stocks fell after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 3.05% to 2,932.70 on 14 August 2009.

-Seven power sector shares fell on reports the power ministry is planning to cap the sale price of electricity sold in the open market if the projects claim tax benefits.

OUTLOOK

Market opened strongly in red & continued trading in negative zone throughout the day on the back of negative cues from the global indices.

International markets were trading strongly in red & remained in the same territory resultant selling pressure in across the board in our markets too.

Realty, Metal, Auto & Oil and gas got punished heavily.

In the first half of session, we witnessed mixed movement as the market breadth was marginally on the down side but it declined very sharply below crucial support level of 4420 area.

We expect index to hold 4340-4320 levels as the next crucial support zone with possibility of technical bounce in the next session.