Posts Tagged ‘trading sessions’

Festivals and Trading Holidays Set to Keep Dalal Street Less Lively This Week :)

Despite bullish sentiment on hopes of strong quarterly results from firms, the Dalal Street is likely to less lively this week

Despite bullish sentiment on hopes of strong quarterly results from firms, the Dalal Street is likely to less lively this week

Despite bullish sentiment on hopes of strong quarterly results from firms, the Dalal Street is likely to less lively this week, as festive mood and fewer trading sessions would see investors withhold their positions and postpone buying, analysts said.

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Brokers believe the market sentiment will remain positive, even as investors will get only three trading sessions before the second quarter results of companies starts coming in.

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“The market is expected to remain in consolidation phase on the back of less trading sessions and festive season,” SMC Global Vice-President Rajesh Jain said.

The market would trade only for three days this week, as Monday and Friday will be trading holidays on the occasion of ‘Dussera‘ and ‘Gandhi Jayanti‘, respectively.

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Over the week, the BSE Sensex slid 193.43 points, or nearly 1.14 per cent and closed at 16,693 points.

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The under current in the market is bullish, there are not much expectations by investors for this week, while stocks may also look for global cues,experts observed.

The result season will kick start with IT major Infosys scheduled to announce its second quarter results on October 9.

During the last week, foreign institutional investors have put in over Rs 6,528.1 crore in Indian markets.

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Nifty Hit the Level of 5,000 :)

nifty-climb-5000k

Nifty hit the significant level of 5,000, first time since May 23, 2008, taking 326 trading sessions while, the standard index prepared early gains to close flat after hitting 5,003 at its day’s high.

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However, nifty closed slightly higher at 4,965, up 7 points whereas another standard Sensex also ended flat at 16,711, up 34 points, off its day’s high of 16,820 while both the indices were lower by over 4.4% decline in heavyweight RIL.

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Moreover, RIL stated that it has raised around Rs 3,188 crore through sale of 1.50 crore equity shares of the company and selling pressure in RIL weighed down on the oil & gas index, down 2.8%.

Additionally, the BSE realty index slid 0.9%, Unitech lost 3% and Phoenix Mills declined 2.4% while IT and auto stocks increased.

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Similarly, the BSE IT index gained 1.9%, Patni Computer and HCL Tech rose over 6% while the auto index on the BSE was also up 1.5% and Amtek Auto increased 14.6%.

On the other hand, in the Sensex pack, ACC emerged as the biggest gainer while the stock advanced 3.6% to Rs 827 however, Hindalco, JP Associates, Bharti Airtel and Maruti Suzuki gained over 3% each.

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Further, RIL was declared the top loser in the group followed by Tata Steel and ITC.

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A correction is expected and likely to take place in markets at current levels. But it is unlikely to be a sharp one.

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European and Asian stock markets extended the week’s rally on Thursday, hitting new highs for the year, as investors became increasingly confident that the U.S. economy , the world’s largest , is growing again.

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FII Net Inflow Crossed $8 Billion in 8 Months :)

FII Net Inflow

FIIs’ net investments in Indian equities crossed $8 billion in calendar 2009 with foreigners buying stocks worth $274 million on Friday.

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At the end of July, net inflows from FIIs stood at $7.3 billion and it took another 20 trading sessions before net inflows crossed the $8-billion mark, the first time this year.

The sensex has risen 65% till now in 2009.

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Last year, hit by recession back home FIIs took out nearly $12 billion from Indian stock markets but with sentiment improving from March this year, they have returned with net investment amounting to $9.3 billion, Sebi data shows.

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Data include stocks bought by FIIs through QIPs and public offers, buybacks and also investments in unlisted companies, fund flow trackers said.

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As per experts this phenomena has happened because India is being considered as one of the better performing market since the October crash.

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Experts maintains that despite immediate headwinds such as impact of poor monsoons on agriculture and uncertain rural economy, the growth potential in the economy cannot be overlooked.

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“Investors will be looking for value and India could be very well the destination” experts pointed out.

With FIIs holding 16% of India’s biggest 500 companies, market experts believe FII holding may rival the 19.1% peak in 2007 as the third-largest Asian economy continues to grow at a decent pace.

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IFCI Sells over 27 lakh DVR shares of Tata Motors :)

DVr shares

IFCI has sold more than 27 lakh Differential Voting Right (DVR) shares of Tata Motors in the last two trading sessions through the bulk deal route.

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At the time of the issue of these shares in November last year, IFCI was the sub-underwriter to Tata Motors’ DVR issue, along with JM Financial.

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Of the 6.4 crore DVR shares issued by Tata Motors, IFCI held 81.96 lakh shares (12.77 per cent) as on June 30.

After the sale, IFCI’s stake has fallen to 8.4 per cent.

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Marketmen said IFCI is likely to have sold the DVRs to take advantage of the rise in the share prices.

IFCI had bought the shares at Rs 305 a piece in November last year.

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The Tata Motors DVR stock closed up 4.8 per cent at Rs 368.95 on the BSE.

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“IFCI purchased these shares at a lower price; this is quite a decent exit proposition. They have made fair bit of profit from this sale,” said Mr Jagannadham Thunuguntla, Head of Equities at SMC Capitals.

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Another reason for IFCI’s sale of the DVR shares in the last two trading sessions could be that they wanted to sell before the release of Tata Motors’ consolidated first quarter results on Monday, Mr Thunuguntla said.

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Company has raked in Rs 98 crore through market sales. 🙂

Tata Motors made a consolidated net loss of Rs 329 crore for the quarter ended June 30.

Tata Motors was the first company to issue shares with DVRs in India in November 2008 when it issued 6.4 crore DVR shares as part of its Rs 4,145-crore rights issue to repay the loan taken for its acquisition of Jaguar-Land Rover.

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