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from Expert Zone:
India Markets Weekahead – Company results key for market direction
(Any opinions expressed here are those of the author, and not necessarily of Thomson Reuters)
Infosys stumped Indian markets again but for a change -- positively. Recent management comments had built expectations of underperformance which led to cautious to negative views on the stock. Institutional investors were light on Infosys whereas the more adventurous speculators were short. And we were all caught on the wrong foot when the company declared a revenue growth as well as a net profit much better than consensus expectations.
The question is whether one should buy Infosys after this 17 percent surge? I would continue to be cautious as I believe the knee-jerk reaction is overdone. Does a better performance put Infosys back in line with the guidance given at the beginning of the year? Not really. Could this be a one-quarter wonder? It’s possible and I would await another quarter for confirmation.
The consensus on the street was that markets could be heading for new highs soon and this possibly was the biggest risk they have been facing in the short term. If not for Infosys, the markets may have broken important support levels on Friday. Unlike the underlying confidence in the past few weeks, the markets have displayed weakness in the last few days closing about a percent lower at 5952.
from Expert Zone:
India Markets Weekahead – Set for new high with no roadblock in sight
A resolution for the U.S. "fiscal cliff" helped the markets cross the psychological Nifty benchmark of 6,000 to close the week up 1.82 percent at 6,016.
Though I expected a spirited rally, what we witnessed last week is a strong consolidation around 6,000 which could form a solid bottom for the next leg of the rally. This is also facilitating the entry of domestic retail investors which is visible in the mid-cap and small-cap volume and performance. The BSE small-cap index moved up 3.71 percent whereas the BSE mid-cap index gained 3.13 percent.
from Money on the markets:
Real estate companies end higher
Shares of real estate companies closed higher on Thursday as investors started accumulating some sector-specific beaten down stocks.
Property developer Unitech posted its best single-day gain in nearly 16 months, rallying 9.6 percent after JPMorgan upgraded the beaten down stock to "overweight" from "neutral", citing cheap valuations, reasonable gearing, comfortable liquidity and high embedded land value.
from Money on the markets:
Sugar companies end higher
A worker carries a sack of sugar at a food warehouse in Mumbai July 11, 2008. REUTERS/Arko Datta/Files
Shares of sugar producers traded higher on Tuesday after industry sources said the government is likely to allow 200,000 tonnes of sugar exports -- less than half a million tonnes permitted earlier.
from Money on the markets:
BSE Oil & Gas index rises as crude oil eases
An employee fills a customer's tank at a petrol pump entirely run by woman in the eastern city of Kolkata May 24, 2008. REUTERS/Jayanta Shaw/Files
Shares in state-run oil marketing companies rallied on Friday as oil prices slid after a huge earthquake and tsunami swept Japan.
from Money on the markets:
Acropetal Technologies debuts at premium
A stockbroker uses his terminal to trade at a brokerage firm in Mumbai September 30, 2008. REUTERS/Punit Paranjpe/Files
Shares in Acropetal Technologies, an outsourcing services company, listed on the BSE at a premium of over 44 percent over its issue price of 90 rupees per share.
from Money on the markets:
Reliance Comm rises on tower deal report
Shares in Reliance Communication rose over 9 percent in trade today after a news channel reported that ATC has emerged as the highest bidder for the firm’s tower arm.
RComm ended 9.3 percent higher at 99.30 rupees and was the top traded stock on BSE. The firm was also the top Sensex gainer.
from Money on the markets:
Tech Mahindra, Mahindra Satyam gain on Mahindra-Cisco deal
Shares of Mahindra group firm Tech Mahindra jumped 9.26 percent to 739 rupees, while outsourcer Mahindra Satyam rose 3.7 percent to 64.90 rupees after an agreement between Mahindra group and Cisco Systems was announced.
Mahindra group is partnering with U.S. telecom equipment maker Cisco Systems to provide a range of services including cloud computing.
from Money on the markets:
BSE Realty Index slips 3 pct; Unitech down 7 pct
The BSE Realty index ended lower on Tuesday on concerns of increasing interest rates and as rising input costs weighed on investors.
Analysts said with foreign funds pulling out more than $1 billion from Indian equities since the start of January, the outlook for the near term remained subdued.
The BSE Realty index was down 3 percent, underperforming the benchmark index, which was down 1.5 percent. Shares of DLF, Unitech, Indiabulls Real Estate and Sobha Developers were down between 1 and 7 percent.
The Realty index has slipped over 20 percent in 2011. Do you see a further downside in real estate shares?
from Money on the markets:
SpiceJet, Sun TV slip on CBI probe talk
Shares in SpiceJet and Sun TV Network fell on market talk that Sun founder Kalanithi Maran's deal of buying a stake in SpiceJet was under investigation by the Central Bureau of Investigation, four dealers said.
Shares of both the companies had fallen 7-13 percent on Friday
SpiceJet closed 2 percent lower at 47.65 rupees while shares in Sun TV Network ended 11.4 percent down at 410 rupees.
