Markets sink into the red on sudden sell-off
The market surged for the second straight day on continued buying support for index pivotals. Majority of Asian markets were trading higher today, 24 January 2008 after US markets spurted yesterday, 23 January 2008.But the markets have slipped in red on increasing selling pressure in scrips across sectors. The markets are trading near the low points of the day.
At 13.03 hrs IST, the Sensex is down 187.30 points or 1.06% at 17406.77, and the Nifty down 86.15 points or 1.66% at 5117.25.
National Thermal Power Corporation (NTPC) slumped 7.47% to Rs 207 on profit booking. The stock had hit a high of Rs 229.90 in early trade. NTPC had surged 13.73% yesterday, 23 January 2008 on reports the company plans to invest Rs 1,729 crore for development of the Jharkhand coal mine.
Reliance Energy, the country’s largest power utility in terms of net profit declined 7.12% to Rs 1826.10. The stock moved in a wide range of Rs 1815 and Rs 2095 so far during the day
India’a largest private sector firm by market capitalization and oil refiner Reliance Industries declined 3.10% to Rs 2476, off its early high of Rs 2640. 7.59 lakh shares changed hands on the counter on BSE
DLF (down 3.83% to Rs 888.30), Oil & Natural Gas Corporation (down 5.74% to Rs 933.95) and ITC (down 2.08% to Rs 188.50) were the other losers from Sensex pack.
India’s largest multinational FMCG company in terms of net profit Hindustan Unilever gained 3.40% to Rs 196. It was the top gainer from Sensex pack
India’s largest dedicated housing finance company in terms of revenue Housing Development Finance Corporation gained 1.90% to Rs 2580. The stock swung wildly in band of Rs 2521 and Rs 2729.
ICICI Bank, the country’s largest private sector bank in terms of net profit was up 0.54% to Rs 1153, off day’s high of Rs 1246. As pere reports, ICICI Securities, the investment banking and broking unit of ICICI Bank reportedly aims to raise up to $1 billion through a pre-IPO placement of shares.
Polaris Software Lab tumbled 10.62% to Rs 76.95 after the company reported 7.08% rise in net profit to Rs 13.46 crore on 1.21% increase in sales to Rs 239.31 crore in Q3 December 2007 over Q2 September 2007.
Hindustan Zinc declined 11% to Rs 565 on reporting 41.2% fall in net profit to Rs 785 crore on 33.10% fall in net sales to Rs 1658 crore in Q3 December 2007 over Q3 December 2006
There is a liquidity crunch in the secondary market at the moment with a lot of money tied up to the recently concluded mega Rs 11000-crore IPO of Reliance Power which was massively oversubscribed. The IPO was closed on Friday, 18 January 2008.
Asian markets pared early gains today 24 January 2008. Japan's Nikkei (up 2.06% at 13,092.78), Singapore's Straits Times (up 2.66% at 3,063.05), Taiwan's Taiwan Weighted (up 1.47% at 7,517.05), South Korea's Seoul Composite (up 2.12% at 1,663) and China’s Shanghai Composite (up 0.31% to 4,717.34) registered gains.
China expects a mild slowdown in growth this year, the head of the National Bureau of Statistics said on Thursday, 24 January 2008, after reporting that annual GDP growth eased to 11.2% in the fourth quarter of 2007 from 11.5% in the third.
At 13.03 hrs IST, the Sensex is down 187.30 points or 1.06% at 17406.77, and the Nifty down 86.15 points or 1.66% at 5117.25.
National Thermal Power Corporation (NTPC) slumped 7.47% to Rs 207 on profit booking. The stock had hit a high of Rs 229.90 in early trade. NTPC had surged 13.73% yesterday, 23 January 2008 on reports the company plans to invest Rs 1,729 crore for development of the Jharkhand coal mine.
Reliance Energy, the country’s largest power utility in terms of net profit declined 7.12% to Rs 1826.10. The stock moved in a wide range of Rs 1815 and Rs 2095 so far during the day
India’a largest private sector firm by market capitalization and oil refiner Reliance Industries declined 3.10% to Rs 2476, off its early high of Rs 2640. 7.59 lakh shares changed hands on the counter on BSE
DLF (down 3.83% to Rs 888.30), Oil & Natural Gas Corporation (down 5.74% to Rs 933.95) and ITC (down 2.08% to Rs 188.50) were the other losers from Sensex pack.
India’s largest multinational FMCG company in terms of net profit Hindustan Unilever gained 3.40% to Rs 196. It was the top gainer from Sensex pack
India’s largest dedicated housing finance company in terms of revenue Housing Development Finance Corporation gained 1.90% to Rs 2580. The stock swung wildly in band of Rs 2521 and Rs 2729.
ICICI Bank, the country’s largest private sector bank in terms of net profit was up 0.54% to Rs 1153, off day’s high of Rs 1246. As pere reports, ICICI Securities, the investment banking and broking unit of ICICI Bank reportedly aims to raise up to $1 billion through a pre-IPO placement of shares.
Polaris Software Lab tumbled 10.62% to Rs 76.95 after the company reported 7.08% rise in net profit to Rs 13.46 crore on 1.21% increase in sales to Rs 239.31 crore in Q3 December 2007 over Q2 September 2007.
Hindustan Zinc declined 11% to Rs 565 on reporting 41.2% fall in net profit to Rs 785 crore on 33.10% fall in net sales to Rs 1658 crore in Q3 December 2007 over Q3 December 2006
There is a liquidity crunch in the secondary market at the moment with a lot of money tied up to the recently concluded mega Rs 11000-crore IPO of Reliance Power which was massively oversubscribed. The IPO was closed on Friday, 18 January 2008.
Asian markets pared early gains today 24 January 2008. Japan's Nikkei (up 2.06% at 13,092.78), Singapore's Straits Times (up 2.66% at 3,063.05), Taiwan's Taiwan Weighted (up 1.47% at 7,517.05), South Korea's Seoul Composite (up 2.12% at 1,663) and China’s Shanghai Composite (up 0.31% to 4,717.34) registered gains.
China expects a mild slowdown in growth this year, the head of the National Bureau of Statistics said on Thursday, 24 January 2008, after reporting that annual GDP growth eased to 11.2% in the fourth quarter of 2007 from 11.5% in the third.
Labels: Nifty.Sensex
posted by SY at 1:50 PM
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