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from Expert Zone:
India Markets Weekahead – Opportunity for those who missed out rally
(Any opinions expressed here are those of the author, and not necessarily of Thomson Reuters)
It was a second straight week of losses of 1.59 percent with the Nifty closing at 5,903. As discussed in this column a fortnight back, we are in a phase which would tire out the participants and change the mood to a negative consensus on the street.
After the sharp correction in most of the midcap counters, the mood has turned circumspect. The corporate results declared in the last few days too did not have much to cheer the markets but Central Statistics Office (CSO) GDP estimates of 5 percent for the current fiscal year seemed to have knocked the bottom.
The finance ministry, especially Finance Minister P Chidambaram, was quick to rebut these estimates as based on extrapolation of the past data which does not account for the green shoots seen in the last few months.
from Expert Zone:
India Markets Weekahead – Still time to tank up for a pre-budget rally
(Any opinions expressed here are those of the author, and not necessarily of Thomson Reuters)
The Nifty has crossed 6,000 levels while the Sensex breached the psychological barrier of 20,000 to touch a two-year high -- triggered by an overdrive of government action, encouraging macro numbers, corporate results and no bad news internationally.
from Money on the markets:
LIVE BLOG: Sensex, Nifty plunge to 2011 lows
The BSE Sensex and Nifty plunged to fresh 2011 lows in Wednesday trade, a day before the expiry of derivatives contracts, amid renewed worries about faltering global growth.
from Money on the markets:
BSE Auto index falls 2 pct
Auto stocks struggled in trade on Friday, as stocks like Exide Industries, M&M and Maruti Suzuki fell, pushing the sectoral index down 2 percent.
Exide Industries ended down 4.6 percent as the top loser in the auto index, followed by M&M which dropped 3.3 percent.
from Money on the markets:
Unitech shares jump more than 9 pct
Shares in Unitech, one of India’s leading real estate firms, rose 9.3 percent to close at 38.2 rupees, after a sell-off amid allegations that the firm was among those who were favoured in 2G licence grants in 2008.
On Tuesday, the CBI questioned Unitech's MD as part of a probe into the alleged telecoms corruption scandal.
from Money on the markets:
Mahindra Satyam shares jump on earnings
Software services exporter Mahindra Satyam jumped 11.7 percent to 64.65 rupees after the firm reported its third quarter net profit, which more than doubled from a quarter ago.
The company also said that it put a planned merger with its parent firm, Tech Mahindra, on hold.
from Money on the markets:
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.
from Money on the markets:
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.
from Money on the markets:
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.
from Money on the markets:
Good day for RIL shares
Shares in Reliance Industries, India's top listed firm, gained 4 percent on Friday, helping the benchmark Sensex post gains of more than 250 points.
RIL, which has the highest weight in the Sensex, ended with volumes of 944,021 on BSE.
