Markets slipped due to weak global cues
The market remained weak throughout the day’s trade. Weakness in global markets and unwinding of positions in derivatives ahead the expiry of July 2007 derivatives contracts tomorrow, 26 July 2007, played spoilsport.The BSE 30-share Sensex lost 81.30 points to 15,713.62, as per provisional closing.The NSE Nifty slipped 28.05 points to 4,592.70, as per provisional closing.
India’s largest cigarette manufacturer ITC surged 8.57% to Rs 165.30 on 57.99 lakh shares. It was the top gainer from the Sensex pack. The company announces Q1 June 2007 results on Friday, 27 July 2007. Foreign brokerage CLSA has raised its price target to Rs 184, and upgraded it to buy from underperformer.
Meanwhile, ITC is reportedly planning to sell home and personal-care products to sustain growth as new taxes and curbs on smoking threaten cigarette sales. The new products will be sold through the company's network of 6,400 web kiosks and 18 supermarkets.
India's largest FMCG firm in sales Hindustan Unilever rose 1.03% to Rs 201.50.NTPC, India’s largest power generation company, gained 2.35% Rs 167.45. The stock had risen 3.6% on Tuesday 24 July 2007 after it signed an MoU with Asian Development Bank for setting up a joint venture company to undertake renewable power generation.India’s largest oil explorer ONGC advanced 2.35% to Rs 937 after it today, 25 July 2007, reported an 11.9% growth in net profit to Rs 4610 crore in Q1 June 2007 over Q1 June 2006.
IT pivotals were subdued after the rupee gradually approached the crucial 40-mark today, touching new nine-year high of 40.22 against the US currency in early trade. Fourth largest software services exporter Satyam Computers plunged 6.18% to Rs 486.25.Other IT pivotals, TCS (down 1.93% to Rs 1148), and Wipro (down 1.31% to Rs 499.85), also edged lower.However, India's second-largest software services exporter Infosys Technologies gained 0.69% to Rs 1,992.
Cement stocks plunged after their recent rally following reports today, 25 July 2007, that on Tuesday, 24 July 2007, MRTCP had ordered a probe into the business practices of 14 leading cement manufacturers.Ambuja Cements (down 5% to Rs 127.70), ACC (down 3.83% to Rs 1075), and Grasim (down 1.08% to Rs 2,990) slipped.
India’s largest private sector company Reliance Industries (RIL) was down 0.19% to Rs 1,908.10.Second largest bike maker Bajaj Auto slumped 3.61% to Rs 2,360 after it scheduled a separate meeting of equity shareholders and unsecured creditors on 18 August 2007 for considering and, if thought fit, approving with or without modification(s) the scheme of arrangement between the company, Bajaj Holdings & Investment & Bajaj Finserv and their respective shareholders & creditors.
HDFC, country’s largest housing finance company slipped 0.54% to Rs 1964. It posted 25.60% rise in net profit in Q1 June 2007 to Rs 372.81 crore over Q1 June 2006. Total operating income rose 46.60% to Rs 1830.39 crore in Q1 June 2007 over Q1 June 2006.
India’s largest cigarette manufacturer ITC surged 8.57% to Rs 165.30 on 57.99 lakh shares. It was the top gainer from the Sensex pack. The company announces Q1 June 2007 results on Friday, 27 July 2007. Foreign brokerage CLSA has raised its price target to Rs 184, and upgraded it to buy from underperformer.
Meanwhile, ITC is reportedly planning to sell home and personal-care products to sustain growth as new taxes and curbs on smoking threaten cigarette sales. The new products will be sold through the company's network of 6,400 web kiosks and 18 supermarkets.
India's largest FMCG firm in sales Hindustan Unilever rose 1.03% to Rs 201.50.NTPC, India’s largest power generation company, gained 2.35% Rs 167.45. The stock had risen 3.6% on Tuesday 24 July 2007 after it signed an MoU with Asian Development Bank for setting up a joint venture company to undertake renewable power generation.India’s largest oil explorer ONGC advanced 2.35% to Rs 937 after it today, 25 July 2007, reported an 11.9% growth in net profit to Rs 4610 crore in Q1 June 2007 over Q1 June 2006.
IT pivotals were subdued after the rupee gradually approached the crucial 40-mark today, touching new nine-year high of 40.22 against the US currency in early trade. Fourth largest software services exporter Satyam Computers plunged 6.18% to Rs 486.25.Other IT pivotals, TCS (down 1.93% to Rs 1148), and Wipro (down 1.31% to Rs 499.85), also edged lower.However, India's second-largest software services exporter Infosys Technologies gained 0.69% to Rs 1,992.
Cement stocks plunged after their recent rally following reports today, 25 July 2007, that on Tuesday, 24 July 2007, MRTCP had ordered a probe into the business practices of 14 leading cement manufacturers.Ambuja Cements (down 5% to Rs 127.70), ACC (down 3.83% to Rs 1075), and Grasim (down 1.08% to Rs 2,990) slipped.
India’s largest private sector company Reliance Industries (RIL) was down 0.19% to Rs 1,908.10.Second largest bike maker Bajaj Auto slumped 3.61% to Rs 2,360 after it scheduled a separate meeting of equity shareholders and unsecured creditors on 18 August 2007 for considering and, if thought fit, approving with or without modification(s) the scheme of arrangement between the company, Bajaj Holdings & Investment & Bajaj Finserv and their respective shareholders & creditors.
HDFC, country’s largest housing finance company slipped 0.54% to Rs 1964. It posted 25.60% rise in net profit in Q1 June 2007 to Rs 372.81 crore over Q1 June 2006. Total operating income rose 46.60% to Rs 1830.39 crore in Q1 June 2007 over Q1 June 2006.
Labels: Nifty.Sensex
posted by SY at 5:07 PM
0 Comments:
Post a Comment
<< Home