BSE Power index falls
The BSE Power index fell 1.3 percent on Wednesday to end as one the top sectoral losers, as the broader market ended marginally higher.
Shares in JSW Steel dropped nearly 3 percent and ended as the top loser in the index. BHEL and NTPC shares lost more than 2.5 percent.
Equity funds record worst monthly fall in over 2 years
NEW DELHI (Reuters) – Diversified stock funds mirrored losses in benchmark index in January with unit values recording their worst monthly performance since October 2008, data from global fund tracker Lipper showed.
Such funds, which form the largest category of equity schemes by number and assets, posted an average drop of 9.8 percent in the month, compared with a 10.6 percent fall in the 30-share benchmark Sensex.
Stock funds record worst monthly fall in over 2 yrs
NEW DELHI, Feb 2 (Reuters) – India’s diversified stock
funds mirrored losses in the benchmark index in January with
unit values recording their worst monthly performance since
October 2008, data from global fund tracker Lipper showed.
Such funds, which form the largest category of equity
schemes by number and assets, posted an average drop of 9.8
percent in the month, compared with a 10.6 percent fall in the
30-share benchmark Sensex .BSESN.
Realty stocks struggle, Unitech falls 10.6 pct
Shares in Unitech, one of India’s leading real estate firm, fell 10.6 percent on Tuesday to close at 43.05 rupees. The stock ended as the top loser in the BSE Realty Index.
Rival DLF shares ended 1.4 pct lower. DLF said it was cautious on the near-term outlook as rising interest rates could weigh on demand after the firm reported a marginal drop in quarterly earnings.
Bad day for banking stocks
It was not a good day for banking counters, as the markets slipped more than 250 points in Thursday. State Bank of India and ICICI Bank dropped nearly 1 percent and 2.1 percent respectively, while HDFC Bank closed 1.7 percent lower. Financials led the decline in the markets, as expectations for another rate increase in the next two months after the RBI’s recent move weighed on sentiments. Is this the right time to enter banking stocks?ICICI Bank ends up 1.7 pct
Shares in ICICI Bank, India’s top private lender, gained 1.7 percent on Monday, as the bank said that its Q3 net profit rose more than 30 percent.
This was the bank’s strongest pace of growth in three quarters.
ICICI Bank Chief Executive Chanda Kochhar said that the bank expected “at least” 20 percent credit growth in 2011/12 compared with an expected 18 percent growth in the fiscal year ending on March 31.
RIL shares fall
Shares in Reliance Industries, India’s top listed firm, ended down 1.2 percent to close at 969.75 rupees on Thursday, as the BSE oil & gas index ended down 1.5 percent.
The shares have fallen significantly since November, when they were trading above 1100 rupees.
TCS shares touch record high
Shares in TCS gained nearly 5.5 percent on Tuesday after the firm had reported a good set of quarterly numbers on Monday evening after market hours.
TCS led the gains in the benchmark Sensex and rose to a record high after it beat street estimates and said it expected strong demand for outsourcing.
L&T shares fall after quarterly results
Shares in engineering conglomerate L&T ended down 1.65 percent on Monday after the company posted a 10.5-percent rise in standalone profit for the quarter ended in December, but a fall in its operating margin hit investor sentiment.
The company said its operating margin in the third quarter was at 10.8 percent compared with 12.4 percent a year ago.
HDFC Bank shares drop
Shares in HDFC Bank, one of India’s leading private sector bank, fell 5 percent on Monday, with the broader market remaining weak and slipping 468 points.
The shares ended as the top Sensex loser, after losing 113.45 rupees to close at 2154.90 rupees.
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