Markets remain subdued
The market opened with upward gap but soon pared gains in the early trade to slip into the red. It bounced back later.The market was subdued in afternoon trade. Concerns on the political front resurfaced after communist allies warned the government against going ahead with a civilian US nuclear deal.
At 13.15 pm, the Sensex is down 75.26 points or 0.38% at 19890.74, and the Nifty down 34.65 points or 0.58% at 5939.65.
Reliance Industries declined 0.65% to Rs 2,823.05. As per reports, it has intensified restructuring of its retail venture Reliance Retail to create up to 30 independent business activities, each targeted to be a profit centre. Speculation is rife of a mega initial public offer in 2008 of Reliance Retail.
Fertiliser stocks rose. Chambal Fertilisers & Chemicals (up 1.7% to Rs 86.80), Coromandel Fertilisers & Chemicals (up 2.63% to Rs 124.90), Mangalore Chemicals & Fertilisers (up 0.72% to Rs 42), Nagarjuna Fertilisers and Chemicals (up 1.74% to Rs 84.75), National Fertiliser (up 1.58% to Rs 80.60), Tata Chemicals (up 6.3% to Rs 387.55), Zuari Industries (up 1.41% to Rs 363) and Gujarat State Fertilisers & Chemicals (up 3.42% to Rs 286) edged higher.
The Government has announced the issue of ‘Government of India Special Bonds, 2023’ worth Rs 3890 crore. The first tranche of the special bonds are being issued at par to 22 fertiliser companies as compensation towards fertiliser subsidy during the current financial year on 7 December 2007.
Realty majors galloped. India’s largest real estate developer in market capitalisaion DLF rose 0.88% to Rs 1,020.25.
Unitech rose 1.53% to Rs 435.50. As per reports, India’s second-largest real estate developer, Unitech has major plans, which look beyond real estate. After announcing its plans of entering the telecom business, Unitech now wants to concentrate on positioning itself as a full fledged infrastructure development company with interests in power, roads, airports and also in other areas wherever it sees an opportunity. Besides, it also plans to enter the international market.
Indiabulls Real Estate rose 3.7% to Rs 713. The company said before trading hours today, 10 December 2007, its wholly owned subsidiary, Indiabulls Wholesale Services (IWSL), is proposing to make an open offer for Piramyd Retail, a retail company.
Power stocks declined. NTPC (down 1.49% to Rs 242.40), Reliance Energy (down 1.22% to Rs 1,908.55), Tata Power Company (down 0.9% to Rs 1,310.10) edged lower.
FMCG stocks plummet. ITC (down 0.53% to Rs 187.90) and Hindustan Unilever (down 2.23% to Rs 203.70) edged lower.
Bharti Airtel rose 1.23% to Rs 971.50. Bharti Airtel announced before the market hours today 10 December 2007 that, Bharti Infratel, Idea Cellular and Vodafone Essar have agreed to form an independent tower company, Indus Towers to provide passive infrastructure services in India to all operators on a non-discriminatory basis. Idea Cellular rose 3.64% to Rs 137.90.
Hindalco Industries (up 1.83% to Rs 191.60), ICICI Bank (up 1.8% to Rs 1,270) and Infosys (up 0.57% to Rs 1,727.90) edged higher.
Tata Consultancy Services (down 1.67% to Rs 1,043.50),Mahindra & Mahindra (down 1.92% to Rs 765), Tata Motors (down 2.5% to Rs 751.85), Hindustan Unilever (down 2.46% to Rs 203.25) and Bharat Heavy Electricals (down 1.76% to Rs 2,694.90) edged lower.
At 13.15 pm, the Sensex is down 75.26 points or 0.38% at 19890.74, and the Nifty down 34.65 points or 0.58% at 5939.65.
Reliance Industries declined 0.65% to Rs 2,823.05. As per reports, it has intensified restructuring of its retail venture Reliance Retail to create up to 30 independent business activities, each targeted to be a profit centre. Speculation is rife of a mega initial public offer in 2008 of Reliance Retail.
Fertiliser stocks rose. Chambal Fertilisers & Chemicals (up 1.7% to Rs 86.80), Coromandel Fertilisers & Chemicals (up 2.63% to Rs 124.90), Mangalore Chemicals & Fertilisers (up 0.72% to Rs 42), Nagarjuna Fertilisers and Chemicals (up 1.74% to Rs 84.75), National Fertiliser (up 1.58% to Rs 80.60), Tata Chemicals (up 6.3% to Rs 387.55), Zuari Industries (up 1.41% to Rs 363) and Gujarat State Fertilisers & Chemicals (up 3.42% to Rs 286) edged higher.
The Government has announced the issue of ‘Government of India Special Bonds, 2023’ worth Rs 3890 crore. The first tranche of the special bonds are being issued at par to 22 fertiliser companies as compensation towards fertiliser subsidy during the current financial year on 7 December 2007.
Realty majors galloped. India’s largest real estate developer in market capitalisaion DLF rose 0.88% to Rs 1,020.25.
Unitech rose 1.53% to Rs 435.50. As per reports, India’s second-largest real estate developer, Unitech has major plans, which look beyond real estate. After announcing its plans of entering the telecom business, Unitech now wants to concentrate on positioning itself as a full fledged infrastructure development company with interests in power, roads, airports and also in other areas wherever it sees an opportunity. Besides, it also plans to enter the international market.
Indiabulls Real Estate rose 3.7% to Rs 713. The company said before trading hours today, 10 December 2007, its wholly owned subsidiary, Indiabulls Wholesale Services (IWSL), is proposing to make an open offer for Piramyd Retail, a retail company.
Power stocks declined. NTPC (down 1.49% to Rs 242.40), Reliance Energy (down 1.22% to Rs 1,908.55), Tata Power Company (down 0.9% to Rs 1,310.10) edged lower.
FMCG stocks plummet. ITC (down 0.53% to Rs 187.90) and Hindustan Unilever (down 2.23% to Rs 203.70) edged lower.
Bharti Airtel rose 1.23% to Rs 971.50. Bharti Airtel announced before the market hours today 10 December 2007 that, Bharti Infratel, Idea Cellular and Vodafone Essar have agreed to form an independent tower company, Indus Towers to provide passive infrastructure services in India to all operators on a non-discriminatory basis. Idea Cellular rose 3.64% to Rs 137.90.
Hindalco Industries (up 1.83% to Rs 191.60), ICICI Bank (up 1.8% to Rs 1,270) and Infosys (up 0.57% to Rs 1,727.90) edged higher.
Tata Consultancy Services (down 1.67% to Rs 1,043.50),Mahindra & Mahindra (down 1.92% to Rs 765), Tata Motors (down 2.5% to Rs 751.85), Hindustan Unilever (down 2.46% to Rs 203.25) and Bharat Heavy Electricals (down 1.76% to Rs 2,694.90) edged lower.
Labels: Nifty.Sensex
posted by SY at 1:35 PM
0 Comments:
Post a Comment
<< Home