Thursday, February 14, 2008

Markets trading firm

Strong global cues catapulted Indian market at opening today. Global markets rose after a surprise increase in US retail sales helped ease recession worries in the world's largest economy. The markets have held out their gains. Buying interest is seen scrips across sectors. The rally is led by realty, power, metal and banking stocks. Global cues have been very supportive today as the Asia ended strong following another day of gains on Wall Street.

At 13.39 hrs IST, the Sensex is up 671.57 points or 3.96% at 17620.71, and the Nifty up 220.50 points or 4.47% at 5149.95.

State-run engineering firm Bharat Heavy Electricals surged 10.01% to Rs 2180.15 after it won a Rs 200 crore contract for supplying oil field equipment to Oil & Natural Gas Corporation.

India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 4.36% at Rs 2491.

India’s largest private sector bank by assets ICICI Bank rose 5.63% to Rs 1161.15.

Among the other Sensex gainers, Hindalco Industries soared 8.57% to Rs 162.80, Reliance Communication jumped 7.32% to Rs 599.25, Reliance Energy climbed 7.57% to Rs 1674.15, and DLF flared up 6.52% to Rs 868.10 and.

Cement maker Ambuja Cements fell 0.30% to Rs 115.80. It was the only loser from the Sensex pack.

Anil Dhirubhai Ambani Group firm Reliance Power rose 3.56% to Rs 363.90 on volume of 44.21 lakh shares on BSE. On Monday, 11 February 2008, the stock had debuted at Rs 547.80, a premium of Rs 21.73% over the IPO price of Rs 450.

The BSE Capital Goods index was up 6.14% at 16,071.19. Larsen & Toubro rose 5.56% to Rs 3460, Praj Industries soared 10.47% to Rs 162.45, Lakshmi Machine Works jumped 8.45% to Rs 2007, Jyoti Structures moved up 8.18% to Rs 199.65, and Crompton Greaves rose 6.69% to Rs 299.10.

Engineering and construction firm Punj Lloyd gained 9.17% to Rs 362. Sembawang Engineers and Constructors, a unit of Punj Lloyd, has bagged a Singapore dollar 400 million contract to build part of the Marina Bay Sands integrated resort in Singapore.

Among side counters, United Breweries surged 20% to Rs 920.10, Khaitan Electricals flared up 16.60% to Rs 72, Power Finance Corporation rose 16.11% to Rs 175.10, Zee News soared 14.51% to Rs 50.10, Ador Multi Products climbed 12.78% to Rs 20.30 and Indusind Bank jumped 12.14% to Rs 100.65.

Asian markets were firm today, 14 February 2008. Key indices in Hong Kong, China, Japan, Taiwan, Singapore and South Korea were up by 1.37% to 4.27%.

US Markets rallied on Wednesday, 13 February 2008 after a surprise rise in retail sales in January 2008. The Dow Jones industrial average gained 178.83 points, or 1.45%, to 12,552.24. The S&P 500 index rose 18.35 points, or 1.36%, to 1,367.21, and the Nasdaq Composite index advanced 53.89 points, or 2.32%, to 2,373.93.

Back home, the market breached its five-day losing streak to post gains on Wednesday, 13 February 2008 on the back of strong global cues and buying support in large-caps. The 30-share BSE Sensex surged 341.13 points or 2.05% at 16,949.14 on Wednesday, 13 February 2008. The broader CNX S&P Nifty rose 91.20 points or 1.88% at 4929.45 for the day.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth Rs 9.40 crore on Wednesday, 13 February 2008. Domestic institutional investors (DIIs) were net buyers of shares worth Rs 23.59 crore on that day.

FIIs were net buyers to the tune of Rs 1,701.55 crore in the futures & options segment on Wenesday, 13 February 2008. They were net buyers of index futures to the tune of Rs 1,083.99 crore and bought index options worth Rs 18.18 crore. They were net buyers of stock futures to the tune of Rs 603.59 crore and sold stock options worth Rs 4.21 crore.

Meanwhile, as per reports Dominique S. Kahn, managing director of the International Monetary Fund said yesterday, 13 February 2008 that emerging economies such as India, which are expanding rapidly, are not insulated from the impact of a slowdown in the US and will feel the pinch sooner or later.

Kahn, who is on a three-day visit to India, also underlined the need for a global solution to the problem of financial crisis, which could have a ripple effect on several economies.

Labels:

2 Comments:

Blogger heena singh said...

bank jobs

4:35 PM  
Blogger heena singh said...

bank jobs

5:32 PM  

Post a Comment

Links to this post:

Create a Link

<< Home