Money on the markets

A maturing market amid the mayhem

from Expert Zone:

U.S. top lines set to track overseas exposure

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By Amitesh Kumar

High exposure to fast-growing economies is boosting revenues at globally active U.S. companies. Developing markets, especially in Asia and Latin America, continue to boost growth forecasts that outshine the anaemic U.S. growth outlook.

S&P500 companies that generate more than half of revenue from overseas operations are expected to see higher 2010 revenue growth (10 percent in aggregate), compared to slower growth (6 percent in aggregate) for companies that derived more than half of revenue from domestic operations, a Thomson Reuters Datastream analysis reveals.

S&P 500 2010 Sales Growth Estimate Analysis: Companies with Higher Domestic vs. Overseas Share

A Thomson Reuters Study focuses on opportunities in the U.S. arising from overseas exposure.

L&T gains 1.2 pct

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Shares in Larsen & Toubro ended 1.2 percent higher at 2013.15 rupees after the firm announced a good set for Q2 numbers.

The firm topped market estimates with a 32 percent rise in profit on the back of a pickup in orders, and stood by its outlook for 20 percent revenue growth in fiscal 2011.

BSE IT index falls

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The BSE IT index slipped 3.25 percent on Friday after Infosys, which posted better-than-expected results, warned currency volatility could crimp growth for the outsourcing sector.

The stock closed 3.4 percent lower, after rising as much as 2 percent to a record high of 3,249 rupees on results. Both Wirpo and TCS ended 3.5 percent lower.

BSE IT index gains 3.15 pct

Bombay Stock Exchange buildingIT stocks posted smart gains on Wednesday as IT cos’ stocks gained on expectations of strong quarterly earnings.

Oracle Financial Services Software ended 4.6 percent higher as the top gainer in the index.

BSE Realty index slips

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It was a tough day for investors in realty stocks, as the sectoral index slipped 1.8 percent and ended as the top loser among indices.

Anant Raj Industries led the losers, ending down 3 percent. Top listed firms like Unitech and DLF followed, slipping 2.5 and 2 percent respectively.

Nirma hits 32-month high on delisting

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Shares of detergent maker Nirma Ltd jumped 18 percent after the company said its board had approved a proposal by the promoters to acquire all outstanding shares of the company at 235 rupees per share and delist from the BSE and the NSE.

The counter rose to 264.85 rupees, its highest in 32 months before closing 7.1 percent higher at 240 rupees on the BSE with volumes of over 1 million shares.

SKS Microfinance shares fall

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Shares in SKS Microfinance fell 5.6 percent in trade today to close at 1228.25 rupees.

The microlender fired its chief executive Suresh Gurumani 18 months into the job and replaced him with his deputy on Monday. The shares had closed down nearly 6 percent on Monday.

from India Insight:

Can India’s love for cricket move stock markets?

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India's Pragyan Ojha (R), Vangipurappu Laxman (rear, obscured) and Laxman's runner Suresh Raina celebrate India's victory over Australia on the fifth day of their first test cricket match in Mohali October 5, 2010.  REUTERS/Andrew Caballero-Reynolds
It's widely acknowledged that cricket is something of a religion in India but could it be a market-mover too?

According to research by two Australian economists, India's performance in one-day cricket matches can have a significant impact on the fortunes of the country's stock market, the Indian Express reports.

Banking index slips marginally

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MARKET-INDIA/RUPEEBanking index dropped marginally on Tuesday as traders booked profits after hawkish comments on inflation by a Reserve Bank deputy governor.

The Reserve Bank of India (RBI) is considering measures to deal with an influx of foreign fund flows, Subir Gokarn said, adding that inflation persists well above the Reserve Bank’s comfort zone.

SKS Microfinance shares fall

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Shares in lender SKS Microfinance fell nearly 9 percent in trade on Monday after the firm said it had terminated the appointment of its chief executive.

The stock ended 5.8 percent lower.

SKS, India’s largest microlender that raised about $358 million in an IPO in August, said in a notice it had withdrawn all powers granted to Suresh Gurumani, MD and CEO, with immediate effect, without giving any reason.

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