Markets trading firm; PNB, RPL, Bharti top Nifty gainers
Market sprang up in opening bell as worries about the US credit crisis eased after several top US executives reassured investors that the US banking system can withstand shocks from credit-related losses. Power, banking and capital goods stocks were in demand.The markets are still trading firm and the capital good, metal and banking stocks continue to be in the limelight today. Broader markets have also participated in the uptrend but the frontliners have outperformed the midcap and smallcap indices.
At 12.33 hrs IST, the Sensex is up 674.63 points or 3.54% at 19710.11, and the Nifty up 187.35 points or 3.29% at 5882.75.
Reliance Industries jumped 3.49% to Rs 2790. The company has reportedly increased petrol and diesel prices by Rs 4.50 to Rs 5 per litre. As the international crude oil prices are hovering around the $100 a barrel mark, oil companies in the country are finding it difficult to maintain the profitability. The private sector fuel retailers will lose market share to the government-owned companies as PSUs sell at a lesser price.
Telecom stocks firmed up. India's largest cellular service provider by market share Bharti Airtel soared 4.92% to Rs 874 on reports it added 2.03 million subscribers in October 2007, taking its total mobile user base to 50.9 million. Meanwhile, Bharti's chairman Sunil Mittal on Wednesday, 14 November 2007, he favours mobile number portability across the country and not just in the four big metro cities.
India's second largest listed cellular service provider by market share Reliance Communications moved up 2.76% to Rs 727.
India’s largest real estate firm by market capitalisation DLF rose 2.41% to Rs 927 on reports that the real estate firm is buying Singapore-based luxury chain Amanresorts for around $250 million.
Banking, IT, metal stocks and oil & gas stocks were in demand.ICICI Bank was up 4.09% to Rs 1224.20, State Bank of India (SBI) was up 2.80% to Rs 2359, HDFC Bank was up 7.95% to Rs 1701.20 and Axis bank rose 2.16% to Rs 969.80.
Infosys Technologies jumped 3.53% to Rs 1685, TCS was up 2.41% to Rs 971.90, Satyam Computer rose 2.37% to Rs 420.30 and Wipro moved up 2.48% to Rs 452.
Jindal Saw jumped 7.72% to Rs 804, Steel Authority of India (Sail) grew 4.30% to Rs 260.50, Tata Steel moved up 3.67% to Rs 863.50 and Sterlite Industries rose 3.29% to Rs 1010.
India's largest aluminium producer by sales Hindalco Industries rose 2.97% to Rs 209.75 on reports the company had raised prices of primary aluminium by Rs 2,000 a tonne.
At 12.33 hrs IST, the Sensex is up 674.63 points or 3.54% at 19710.11, and the Nifty up 187.35 points or 3.29% at 5882.75.
Reliance Industries jumped 3.49% to Rs 2790. The company has reportedly increased petrol and diesel prices by Rs 4.50 to Rs 5 per litre. As the international crude oil prices are hovering around the $100 a barrel mark, oil companies in the country are finding it difficult to maintain the profitability. The private sector fuel retailers will lose market share to the government-owned companies as PSUs sell at a lesser price.
Telecom stocks firmed up. India's largest cellular service provider by market share Bharti Airtel soared 4.92% to Rs 874 on reports it added 2.03 million subscribers in October 2007, taking its total mobile user base to 50.9 million. Meanwhile, Bharti's chairman Sunil Mittal on Wednesday, 14 November 2007, he favours mobile number portability across the country and not just in the four big metro cities.
India's second largest listed cellular service provider by market share Reliance Communications moved up 2.76% to Rs 727.
India’s largest real estate firm by market capitalisation DLF rose 2.41% to Rs 927 on reports that the real estate firm is buying Singapore-based luxury chain Amanresorts for around $250 million.
Banking, IT, metal stocks and oil & gas stocks were in demand.ICICI Bank was up 4.09% to Rs 1224.20, State Bank of India (SBI) was up 2.80% to Rs 2359, HDFC Bank was up 7.95% to Rs 1701.20 and Axis bank rose 2.16% to Rs 969.80.
Infosys Technologies jumped 3.53% to Rs 1685, TCS was up 2.41% to Rs 971.90, Satyam Computer rose 2.37% to Rs 420.30 and Wipro moved up 2.48% to Rs 452.
Jindal Saw jumped 7.72% to Rs 804, Steel Authority of India (Sail) grew 4.30% to Rs 260.50, Tata Steel moved up 3.67% to Rs 863.50 and Sterlite Industries rose 3.29% to Rs 1010.
India's largest aluminium producer by sales Hindalco Industries rose 2.97% to Rs 209.75 on reports the company had raised prices of primary aluminium by Rs 2,000 a tonne.
Labels: Nifty.Sensex
posted by SY at 1:14 PM
1 Comments:
RPL MAY BE A NIFTY GAINER, BUT WITH THE RECENT DROP FROM 295 LEVELS ITS A CLEAR INDICATION THAT THEY DONT APPRECIATE THEIR INVESTORS MONEY
the drop from 290 to 195 has been completely operated. thats the news all over.. check this link of financial express and live mint
http://www.financialexpress.com/news/Smart-operators-in-RPL-futures-make-a-cool-Rs-1-000-cr/244312/
Between November 1 and November 6, 2007, a particular group made short sales of 10crore shares of Reliance Petroleum in the futures segment of National Stock Exchange costing Rs.3,000 crores approximately. they made a cool Rs 1,000 crores in less than a month, because the Reliance Petroleum shares have now crashed from Rs.295 to Rs 195 per share!. These guys have made Rs.100 per share.
isnt it ironic that someone knew that RIL was going to sell a huge quantity of shares and the prices were bound to come down?
My 2nd question is Who financed these traders for their margins? Where has this profit gone? and who bore the loss???
Its innocent small investors who bought Reliance Petroleum shares at the high prices, not knowing that this unholy alliance was indulging in insider trading and making illegal profits while Mukesh Ambani's own company RIL was selling shares without disclosing this to investors!!
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