Posts Tagged ‘Reliance Infrastructure’

Downward Movement Hits Indian Equities Markets

Downward Movement Hits Indian Equities Markets

Downward Movement Hits Indian Equities Markets

Indian equities markets entered into a consolidation zone with analysts terming the downward movement as long expected.

A benchmark index fell 5.44 percent from its last weekly close and ended trade below the 16,000-mark.


The 30-share sensitive index (Sensex) ended 914.53 points, or 5.44 percent lower, at 15,896.28 points at the weekly close Friday, as opposed to the previous week’s close at 16,810.81 points.

The broader S&P CNX Nifty of the National Stock Exchange (NSE), too slipped, closing at 4,711.7 points, down 5.7 percent from its last weekly close.

However, companies with large-to-medium market capitalization saw greater selling with the BSE midcap index ending 7.36 percent lower and the BSE smallcap index losing 8.01 percent over the last week.

“This consolidation was expected anyways as the valuations were not commensurate with the earnings of corporates. To an extent a correction in valuations was warranted,” said Jagannadham Thunuguntla, equities head of brokerage and capital markets consultancy SMC Capital.

The markets started on a cautious note Monday ahead of the Reserve Bank of India‘s mid-year policy review Tuesday.

The Sensex ended a volatile day at 16,740.50 points — 70.31 points or 0.42 percent lower than Friday’s close.

The Nifty followed a similar trajectory and ended in negative at 4,970.9 points, down 0.52 percent.

Both benchmark indices nosedived Tuesday as the RBI indicated in its policy review that it would start tightening the monetary policy and look at exiting the stimulus measures.


Data with markets watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds were net sellers during the week, having sold scrips worth $12.8 million.

The top gainers this week on the Sensex were

Tata Motors (up 7.2 percent),
Ranbaxy Labs (up 4.8 percent),
Wipro (up 2.9 percent),
Grasim (up 1.6 percent) and
Hindustan Unilever (up 1 percent).

The top losers were :

DLF (down 18.5 percent),
Reliance Capital (down 14.5 percent),
Reliance Infrastructure (down 14.2 percent),
Hindalco (down 13.9 percent) and
Reliance Power (down 12.9 percent).

“Broadly speaking only about one percent of the quarterly results show a sound top line growth. Profits might have increased, but that is not because of increase in core operations – cost cutting and other income have contributed towards it,” said Thunuguntla.


Market trading firm: Sensex hits 10-month high :)

Sensex hits 10-month high

Sensex hits 10-month high

After a gap up opening, the domestic markets are marching towards the northward on the back of strong rally across other Asian markets. Further, bulls are driving the major Indian bourses to its highest in 10 months, with an expectation that the government will increase public spending in the budget next month to boost economic growth.

Buying interest has emerged across all the sectoral indices.

Among the BSE sectoral indices, Metal, Consumer Durable (CD) and Capital Goods (CG) stocks gained by 3.80%, 3.51% and 3.46% respectively.

Overall market breadth is positive. Out of the total 2,482 stocks traded at BSE, 1,670 advanced, 759 declined while 53 remained unchanged.

Gainers from the BSE Sensex Pack are Tata Power Company Ltd,HDFC Bank, Reliance Infrastructure, L&T, Sterlite Industries and ONGC.

SMC Global Securities : Money Wise Be Wise !

Market continues its thrust on 10/6/2009:)

Market continues its thrust

Market continues its thrust

After a spectacular opening, the key benchmark indices extended gains on sustained buying by foreign funds.

Foreign funds bought shares worth Rs. 955.31 crore on Tuesday 9 June 2009.

Indian stocks roared on expectations that ample liquidity in pipeline and a return of risk appetite will nudge India Inc corporate profits. India Inc has already raised almost Rs. 5,000 crore from three qualified institutional placements (QIPs) so far in 2009 and announced plans to raise another Rs 20,000 crore.

On the sectoral front, out of 13 Indices, all were traded in green.

Oil stocks advanced as crude oil surged towards $71 a barrel for the first time in seven months on a larger-than-expected fall in crude oil stocks and a view that falling oil demand may have bottomed.

IT stocks fell on stronger rupee.

Banking stocks gained on reports the Reserve Bank of India may standardize the way banks calculate their prime lending rates (RLRs) and bar them from lending below their respective PLRs for more transparency.

Metal stocks gained as six metals traded on the London Stock Exchange jumped 3.8% overnight.

The Market breadth, indicating the overall strength of the market, was strong.

On BSE, out of 2,717 stocks traded so far, 1,411 shares advanced while 1,241 shares declined. Nearly 65 shares are unchanged.

Major gainers from the BSE Sensex pack are

Wipro Ltd 5.96% to Rs. 449.00, along with,

Tata Power Ltd spurted 5.70% to Rs. 1,205.35,

HDFC Bank Ltd spurted 5.66% to Rs. 1,495.50,

Larsen & Toubro 4.97%% to Rs. 1,652.00,

Reliance Infrastructure Ltd by 4.76% to Rs. 1,204.00,

Sterlite Industries Ltd by 4.61% to Rs. 684.00,

ONGC Ltd by 4.30% to Rs. 1,180.00,

Hindustan Uniliver Ltd rose 3.74% to Rs. 266.00 and

Bharti Airtel Ltd 3.17% to Rs. 838.55 among others.

Losers from the BSE Sensex Pack are

DLF Ltd plunged 0.98% to Rs. 398.75 along with

Tata Motors Ltd fell 0.68% to Rs. 366.00,

State Bank of India 0.41% to Rs. 1,756..00 and

Sun Pharmaceuticals Ltd by 0.36% to Rs. 1,331.00 among others.