Markets trading with moderate gains
The markets opened strong today after yesterdays losses on the back of good buying seen in telecom, power, cap goods and auto stocks. Cues from the Asian markets were not very encouraging today and the US markets had closed in red yesterday.The markets are still in green trading steady with moderate gains.
At 12.11 hrs IST, the Sensex is up 110.61 points or 0.56% at 19894.12, and the Nifty up 64.80 points or 1.10% at 5933.55.
IT stocks declined after the Indian rupee inched towards a 9-½ year high on expectations foreigners will keep buying local shares and in anticipation of a US rate cut later in the day. Infosys (down 1.42% to Rs 1,825), Satyam Computer services (down 1.29% to Rs 473.25) and Wipro (down 1.61% to Rs 501.50) edged lower.
Tata Consultancy Services (TCS) slipped 1.57% to Rs 1033 on high early volumes of 14.02 lakh shares, after three block deals were executed in early trade on BSE at discount to the then ruling market price.
Banking stocks recovered. ICICI Bank (up 2.04% to Rs 1,266), State Bank of India up 2.85% to Rs 2,120.90) and HDFC Bank (up 0.42% to Rs 1,625) edged higher. Bank stocks had lost ground yesterday when the Reserve Bank of India (RBI), during trading hours, announced a hike in banks’ cash reserve ratio (CRR) at its monetary policy review.
Realty stocks gained. DLF (up 1.8% to Rs 980.50),Unitech (up 3.03% to Rs 385.75) and Indiabulls Real Estate (up 0.14% to Rs 979.10) edged higher.
Metal stocks climbed. Tata Steel (up 1.83% to Rs 915),Sterlite industries (up 6.23% to Rs 1,085), Steel Authority of India (up 1.13% to Rs 264) and Hindalco Industries (up 0.36% to Rs 193.60) edged higher.
Reliance Energy jumped 5.13% to Rs 1880.95 and was the top gainer from Sensex pack. Its board yesterday, 30 October 2007, approved a proposal to transfer its infrastructure projects to a separate wholly owned subsidiary.
India's largest drug maker by sales Ranbaxy laboratories (up 4.13% to Rs 432) edged higher.India's largest engineering and construction company in terms of revenue Larsen & Toubro declined 0.88% to Rs 4,285.India's biggest power generation firm National Thermal Power Corporation in terms of revenue rose 3.12% to Rs 241.25. It hit an all-time high of Rs 243 today.
India’s biggest oil exploration firm by market capitalisation Oil and Natural Gas Corporation rose 1.42% to Rs 1,236.85 after it reported good Q2 results. ONGC's net profit rose 22.10% to Rs 5097.48 crore on 9.60% rise in net sales to Rs 15413.92 crore in Q2 September 2007 over Q2 September 2006. The results were announced after market hours on Tuesday, 30 October 2007.
India’s top listed cellular services provider by market capitalisation Bharti Airtel moved up 2.1% to Rs 1020.70 after it reported a surge in net profit in Q2 September 2007 over Q2 September 2006. Bharti Aritel reported 82% rise in net profit to Rs 1619.15 crore on 44.94% rise in sales to Rs 6059.89 crore in Q2 September 2007 over Q2 September 2006. The results were announced during market hours today, 31 October 2007.
Reliance Communications (RCom) rose 1.97% to Rs 781.90. A total of five brokerages expect a between 57.3% to 76.6% growth in RCom's consolidated net profit to between Rs 1104.80 crore to Rs 1240.20 crore in Q2 September 2007 compared to net profit of Rs 702.30 crore in Q2 September 2006. They expect a between 32.2% to 38.1% growth in revenue to between Rs 4,660.80 crore to Rs 4868.90 crore compared to revenue of Rs 3525.98 crore in Q2 September 2006.
India’s largest private sector entity in terms of market capitalisation and oil refiner Reliance Industries was up 0.99% to Rs 2798.
At 12.11 hrs IST, the Sensex is up 110.61 points or 0.56% at 19894.12, and the Nifty up 64.80 points or 1.10% at 5933.55.
IT stocks declined after the Indian rupee inched towards a 9-½ year high on expectations foreigners will keep buying local shares and in anticipation of a US rate cut later in the day. Infosys (down 1.42% to Rs 1,825), Satyam Computer services (down 1.29% to Rs 473.25) and Wipro (down 1.61% to Rs 501.50) edged lower.
Tata Consultancy Services (TCS) slipped 1.57% to Rs 1033 on high early volumes of 14.02 lakh shares, after three block deals were executed in early trade on BSE at discount to the then ruling market price.
Banking stocks recovered. ICICI Bank (up 2.04% to Rs 1,266), State Bank of India up 2.85% to Rs 2,120.90) and HDFC Bank (up 0.42% to Rs 1,625) edged higher. Bank stocks had lost ground yesterday when the Reserve Bank of India (RBI), during trading hours, announced a hike in banks’ cash reserve ratio (CRR) at its monetary policy review.
Realty stocks gained. DLF (up 1.8% to Rs 980.50),Unitech (up 3.03% to Rs 385.75) and Indiabulls Real Estate (up 0.14% to Rs 979.10) edged higher.
Metal stocks climbed. Tata Steel (up 1.83% to Rs 915),Sterlite industries (up 6.23% to Rs 1,085), Steel Authority of India (up 1.13% to Rs 264) and Hindalco Industries (up 0.36% to Rs 193.60) edged higher.
Reliance Energy jumped 5.13% to Rs 1880.95 and was the top gainer from Sensex pack. Its board yesterday, 30 October 2007, approved a proposal to transfer its infrastructure projects to a separate wholly owned subsidiary.
India's largest drug maker by sales Ranbaxy laboratories (up 4.13% to Rs 432) edged higher.India's largest engineering and construction company in terms of revenue Larsen & Toubro declined 0.88% to Rs 4,285.India's biggest power generation firm National Thermal Power Corporation in terms of revenue rose 3.12% to Rs 241.25. It hit an all-time high of Rs 243 today.
India’s biggest oil exploration firm by market capitalisation Oil and Natural Gas Corporation rose 1.42% to Rs 1,236.85 after it reported good Q2 results. ONGC's net profit rose 22.10% to Rs 5097.48 crore on 9.60% rise in net sales to Rs 15413.92 crore in Q2 September 2007 over Q2 September 2006. The results were announced after market hours on Tuesday, 30 October 2007.
India’s top listed cellular services provider by market capitalisation Bharti Airtel moved up 2.1% to Rs 1020.70 after it reported a surge in net profit in Q2 September 2007 over Q2 September 2006. Bharti Aritel reported 82% rise in net profit to Rs 1619.15 crore on 44.94% rise in sales to Rs 6059.89 crore in Q2 September 2007 over Q2 September 2006. The results were announced during market hours today, 31 October 2007.
Reliance Communications (RCom) rose 1.97% to Rs 781.90. A total of five brokerages expect a between 57.3% to 76.6% growth in RCom's consolidated net profit to between Rs 1104.80 crore to Rs 1240.20 crore in Q2 September 2007 compared to net profit of Rs 702.30 crore in Q2 September 2006. They expect a between 32.2% to 38.1% growth in revenue to between Rs 4,660.80 crore to Rs 4868.90 crore compared to revenue of Rs 3525.98 crore in Q2 September 2006.
India’s largest private sector entity in terms of market capitalisation and oil refiner Reliance Industries was up 0.99% to Rs 2798.
Labels: Nifty.Sensex
posted by SY at 12:50 PM
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