Markets slip further on selling pressure
The market was trading slightly lower tracking weak Asian markets today. The market saw some volatility in early trade.The markets have lost further ground and were trading weak on the back of heavy selling pressure across the sectors led by the auto, banking, FMCG, power and oil & gas stocks.
At 1.20 pm, the Sensex is down 322.95 points or 1.79% at 17768.99, and the Nifty down 97.95 points or 1.85% at 5182.85.
Bajaj Auto slipped 4.82% to Rs 2264 on thin volumes of 9469 shares. It was the top loser from Sensex pack. Bajaj Auto unveils Q3 December 2007 results today.
Hindustan Unilever (down 4.44% to Rs 198), Reliance Energy (down 3.10% to Rs 2042), and ITC (down 2.61% to Rs 195.45), were the other losers from the Sensex pack.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) was down 2.35% to Rs 2515.30. 2.06 lakh shares changed hands on the counter on BSE. As per recent reports RIL plans to foray in engineering, procurement and construction business to clock a turnover of Rs 5,000 crore in first year itself and double it in second year.
India’s largest private sector steel manufacturer in terms of sales, Tata Steel rose 1.77% to Rs 728.85 on 3.56 lakh shares. It was the top gainer from Sensex pack.
India’s largest cellular services provider in terms of market capitalisation Bharti Airtel rose 1.10% to Rs 859.40. It posted 36.04% rise in net profit to Rs 1,419.84 crore on 41.46% rise in total income 41.46% to Rs 6,682.57 crore in Q3 December 2007 over Q3 December 2006. The company announced the results during market hours today, 30 January 2008.
India’s largest biggest software services exporter Tata Consultancy Services was down 0.02% to Rs 863.05. The company said on Wednesday one of its subsidiaries had won a 100 million pounds, or $200 million, outsourcing contract from Sun Life Financial.
State-run power equipment maker Bharat Heavy Electricals rose 1.32% to Rs 2081.40 after the company said it will invest Rs 736 crore ($187 million) in upgrading its boiler capacity in southern India by 2009, the company said on Tuesday. The capacity of boilers used for thermal or nuclear power generation, would be raised to 4,81,000 metric tonnes a year from 1,08,000 metric tonnes, it said in a statement.
DLF rose 0.77% to Rs 890 on posting net profit of Rs 605.84 crore on total income of Rs 1,812.59 crore in Q3 December 2007. The company announced the results during market hours today 30 January 2008
Adani Enterprises gained 0.58% to Rs 905 on reporting 226.2% surge in net profit to Rs 120.74 crore on 20.60% rise in net sales rose 20.6% to Rs 3166.42 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours on Tuesday, 29 January 2008.
Ashiana Housing rose 4.99% to Rs 423.45 after company fixed 22 February 2008 as the record date for the purpose of bonus issue in the ratio of five shares for every 2 shares held.
The market is likely to see volatile movements, as the Federal Open Market Committee (FOMC) will be announcing its decision regarding interest rates today, 30 January 2008. The decision will be announced after Indian markets are closed. Volatility is expected to remain high also due to expiry of January 2008 derivative contracts tomorrow, 31 January 2008.
As per reports, rollover of Nifty futures from January 2008 series to February 2008 series stood at 53% while marketwide rollover was 40%, till Tuesday, 29 January 2008.
Asian markets were trading weak today, 30 January 2008. Hong Kong's Hang Seng (down 1.90% at 23,830.56), Japan's Nikkei (down 1.48% at 13,278.44), Taiwan's Taiwan Weighted (down 0.43% at 7,543.50), Singapore's Straits Times (down 1.25% to 3,011.71), South Korea's Seoul Composite (down 3.35% at 1,583.35) and China’s Shanghai Composite (down 2.56% to 4,343.43) declined.
On Tuesday, 29 January 2008, US markets advanced on expectation that the Federal Reserve will slash interest rates in a meeting scheduled later during the day.
At 1.20 pm, the Sensex is down 322.95 points or 1.79% at 17768.99, and the Nifty down 97.95 points or 1.85% at 5182.85.
Bajaj Auto slipped 4.82% to Rs 2264 on thin volumes of 9469 shares. It was the top loser from Sensex pack. Bajaj Auto unveils Q3 December 2007 results today.
Hindustan Unilever (down 4.44% to Rs 198), Reliance Energy (down 3.10% to Rs 2042), and ITC (down 2.61% to Rs 195.45), were the other losers from the Sensex pack.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) was down 2.35% to Rs 2515.30. 2.06 lakh shares changed hands on the counter on BSE. As per recent reports RIL plans to foray in engineering, procurement and construction business to clock a turnover of Rs 5,000 crore in first year itself and double it in second year.
India’s largest private sector steel manufacturer in terms of sales, Tata Steel rose 1.77% to Rs 728.85 on 3.56 lakh shares. It was the top gainer from Sensex pack.
India’s largest cellular services provider in terms of market capitalisation Bharti Airtel rose 1.10% to Rs 859.40. It posted 36.04% rise in net profit to Rs 1,419.84 crore on 41.46% rise in total income 41.46% to Rs 6,682.57 crore in Q3 December 2007 over Q3 December 2006. The company announced the results during market hours today, 30 January 2008.
India’s largest biggest software services exporter Tata Consultancy Services was down 0.02% to Rs 863.05. The company said on Wednesday one of its subsidiaries had won a 100 million pounds, or $200 million, outsourcing contract from Sun Life Financial.
State-run power equipment maker Bharat Heavy Electricals rose 1.32% to Rs 2081.40 after the company said it will invest Rs 736 crore ($187 million) in upgrading its boiler capacity in southern India by 2009, the company said on Tuesday. The capacity of boilers used for thermal or nuclear power generation, would be raised to 4,81,000 metric tonnes a year from 1,08,000 metric tonnes, it said in a statement.
DLF rose 0.77% to Rs 890 on posting net profit of Rs 605.84 crore on total income of Rs 1,812.59 crore in Q3 December 2007. The company announced the results during market hours today 30 January 2008
Adani Enterprises gained 0.58% to Rs 905 on reporting 226.2% surge in net profit to Rs 120.74 crore on 20.60% rise in net sales rose 20.6% to Rs 3166.42 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours on Tuesday, 29 January 2008.
Ashiana Housing rose 4.99% to Rs 423.45 after company fixed 22 February 2008 as the record date for the purpose of bonus issue in the ratio of five shares for every 2 shares held.
The market is likely to see volatile movements, as the Federal Open Market Committee (FOMC) will be announcing its decision regarding interest rates today, 30 January 2008. The decision will be announced after Indian markets are closed. Volatility is expected to remain high also due to expiry of January 2008 derivative contracts tomorrow, 31 January 2008.
As per reports, rollover of Nifty futures from January 2008 series to February 2008 series stood at 53% while marketwide rollover was 40%, till Tuesday, 29 January 2008.
Asian markets were trading weak today, 30 January 2008. Hong Kong's Hang Seng (down 1.90% at 23,830.56), Japan's Nikkei (down 1.48% at 13,278.44), Taiwan's Taiwan Weighted (down 0.43% at 7,543.50), Singapore's Straits Times (down 1.25% to 3,011.71), South Korea's Seoul Composite (down 3.35% at 1,583.35) and China’s Shanghai Composite (down 2.56% to 4,343.43) declined.
On Tuesday, 29 January 2008, US markets advanced on expectation that the Federal Reserve will slash interest rates in a meeting scheduled later during the day.
Labels: Nifty.Sensex
posted by SY at 1:32 PM
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