Money on the markets

Punj Lloyd dives

Shares in Punj Lloyd shed over 16 percent on Monday after the engineering and construction firm reported September quarter net profit fell 63 percent to 0.53 billion rupees from 1.44 billion in the same period a year ago. The stock ended 16.47 percent down at 217 rupees in a broader market which closed 0.4 percent lower.

It was among the top traded stocks on the BSE with volumes of over 6 million, its highest since May 21, 2009.

The counter has gained over 50 percent so far this year.

Do you think the counter is an attractive buy?

Sensex range bound in choppy trade

The Sensex remained volatile in trade and ended 0.08 percent lower on fears of a fall in corporate earnings for the June quarter.

IT bellwether Infosys Technologies, will kick off the earnings season on Friday.

The rupee weakened to 49/dollar, its weakest since May 18. It was down 2.2 percent on week early in opening trade.

The Wholesale Price Index fell 1.55 percent, with the primary and food article indices gaining and the fuel index remained unchanged. Manufacturing, however, slipped 0.1 pct.

The 30-share sensitive index swung from an intra-day high of 13,879 to an intra-day low of 13,643 and closed 11 points lower at 13,757. The fifty-share Nifty ended 0.05 percent higher at 4080.

On the sectoral front, the BSE Consumer Durable Index dropped 1.4 percent, followed by the Capital Goods Index which ended 1.07 percent lower. However, the BSE Metal Index closed 1.53 percent higher.

FIIs bought net $158.5 million in shares and sold $3.6 million in debt.

Sensex gains in choppy trade

The BSE Sensex ended 0.69 percent higher on short-covering ahead of the monthly derivatives expiry. Gains were capped by worries about the health of the global economy.

Trade was volatile and the 30-share sensitive index swung from an intra-day low of 14,207 to an intra-day high of 14,479 and closed 98 points higher at 14,422. The fifty-share Nifty ended 1.08 percent up at 4,293.

The BSE Mid-cap Index gained 2.38 pct, while the BSE Small-cap Index ended 2.26 pct higher.

The rise in the benchmark was led by L&T, ONGC, BHEL and JP Associates.

On the sectoral front, the BSE Power Index gained 2.82 percent, followed by the Capital Goods Index which ended 2.52 percent higher. However, the BSE Banking Index closed 0.12 percent lower.

On the global front, Asian stocks recovered ahead of the US Federal Reserve meet later today.

FIIs sold net $134.6 million in shares and bought $47.4 million in debt.

Sensex ends flat after recovering early losses

The BSE Sensex erased early losses to end flat, tracking global markets as concerns about the prospects for an economic recovery pushed key indices into negative territory. The market remained volatile ahead of the expiry of the current months derivative contract on Thursday. The rise in the benchmark was led by Reliance Industries, HDFC, BHEL and ONGC.

The 30-share sensitive index swung from an intra-day high of 14,394 to an intra-day low of 14,016 and closed 2.1 points lower at 14,324. The fifty-share Nifty ended 0.28 percent up at 4,247.

On the sectoral front, the BSE Banking Index dropped 2.1 percent, followed by the Metal Index which ended 1.5 percent lower. However, the BSE Oil & Gas Index closed 2.6 percent higher.

Great Offshore Ltd rose 7.9 percent to 413.60 rupees after shipbuilder ABG Shipyard offered to buy a stake in the firm at 375 rupees per share, countering a bid of 344 rupees by rival Bharati Shipyard.

FIIs sold net $40.7 million in shares and bought $51.7 million in debt.

Do you think the current sell-off will continue as renewed fears of economic recovery have made investors risk-averse?

Sensex snaps 14 weekly run of gains

The BSE Sensex advanced on Friday tracking world markets after positive U.S. economic data boosted investor sentiment and cemented hopes of a global economic recovery. The benchmark, however, snapped a run of 14 weekly gains. The 30-share sensitive index swung from an intra-day low of 14,179 to an intra-day high of 14,559, and closed 256 points higher at 14,521. The fifty-share Nifty ended 1.4 percent up at 4313.

The rise in the benchmark was led by L&T, Infosys, ITC and HDFC Bank.

On the sectoral front, the BSE Capital Goods Index advanced 4.5 percent, followed by the Realty Index which ended 3.1 percent higher. All other BSE Indices closed the day in the green.

Do you think the positive sentiments across the globe will help the Sensex regain 15,000 levels?

Sensex gains in choppy trade

The stock market was choppy today as slipping Asian stocks and weak U.S. manufacturing data sparked profit-taking.

Asian stocks fell for a second day after weak U.S. factory data and news of record job losses in Europe raised concerns about the world economy.

The 30-share sensitive index swung from an intra-day high of 15,022 to an intra-day low of 14,621, and finally closed 82 points higher at 14,957. The fifty-share Nifty ended 0.75 percent up at 4517.

Higher advance tax payments (which indicate improved earnings) from top companies such as Reliance Industries and SBI also aided the Sensex’s intra-day recovery.

On the sectoral front, the BSE Banking Index gained 2.26 percent, followed by the Power Index which ended 1.92 percent higher. The BSE Oil & Gas Index ended lower at 0.98 percent.

FIIs sold net $44.5 million in shares and $34.5 million in debt.

Sensex gains on signs of easing recession

The BSE Sensex rose on Friday on positive global cues amid profit taking by cautious investors, posting its 13th consecutive weekly gain in four years.

The 30-share sensitive index swung from an intra-day high of 15,257 to an intra-day low of 14,994, and finally closed 94 points higher at 15,103. The fifty-share Nifty ended 0.3 percent higher at 4586.

The rise in the benchmark index was led by L&T, Infosys, BHEL and ICICI Bank.

On the sectoral front, the BSE Capital Goods Index gained 2.9 percent, followed by the IT Index which ended 2.6 percent higher. The BSE FMCG Index, however, ended lower at 2.3 percent.

A global rally in stocks has propelled the benchmark up 88 percent from a 2009 low in early March, with foreign funds pouring in more than $6 billion into the market.

Do you think with positive sentiments visible globally and domestic investors hoping for favourable reforms, the Sensex will be able to continue its upswing next week too?

Sensex closes above 15000

The BSE Sensex seesawed today, erasing early losses of as much as 1.8 percent, and finally closed above the 15,000 mark on hopes of a revival in the economy. Higher European markets also helped lift investor sentiments.

The 30-share sensitive index of the Bombay Stock Exchange swung from an intra-day low of 14,601 to an intra-day high of 15,026, and finally closed 137 points up at 15,008. The fifty-share Nifty ended 0.93 percent up at 4572.

The main contributors to the benchmark’s rise were L&T, ICICI Bank, HDFC and Bharti Airtel.

The BSE Mid-Cap index continued its rally gaining 2.26 percent, while the BSE Small-cap index was up 2.23 percent.

On the sectoral front, the BSE Realty index was up 3.29 percent, followed by the Capital Goods Index which ended 3.23 percent lower. The BSE Metal Index, however, ended 2.1 percent lower.

FIIs sold net $67.5 million in shares and bought $46.6 million in debt.

Data released today showed that inflation rose 0.48 percent in the 12 months to May 23, lower than previous week’s annual rise of 0.61 percent.

To 15,000 and back

The Sensex topped 15,000 points during trade on Wednesday for the first time in nine months, but lost steam and closed at 14,870 as investors booked profits.

The 30-share sensitive index swung from an intra-day high of 15,045 to an intra-day low of 14,734, and finally closed 4 points down. The fifty-share Nifty ended 0.12 percent higher at 4530.

Profit-booking was seen mainly in Reliance Industries, Infosys and SBI. 

On the sectoral front, the BSE Banking Index shed 1.2 percent, followed by the IT Index which ended 1percent lower, mainly due to rise in the rupee. The BSE Consumer Durable Index, however, ended higher at 4.04 percent.

FIIs bought net $44.4 million in shares and $374.7 million in debt. Aggressive buying of Indian stocks by FIIs has kept investor sentiments upbeat. Their total inflow in calendar year 2009 totalled $4554.6 million.

Sustained buying by foreign funds, improving global and domestic economic data, and the prospect of having a stable government have all contributed to the recent rally. With the UPA government comfortably placed without the support of the Left, investors as well as corporates are hopeful of major divestment plans and tax breaks form the government.

Do you think the Sensex will close above the 15,000 psychological level tomorrow, or will there be more profit booking?

Profit-taking caps Sensex rise

The BSE Sensex seesawed today, mainly on account of profit-booking after the benchmark closed at an almost nine-month high yesterday.

The 30-share sensitive index of the Bombay Stock Exchange swung from an intra-day high of 14,994 to an intra-day low of 14,608, and finally closed 34 points up at 14,874. The fifty-share Nifty ended 0.10 percent down at 4525. The main contributors to the benchmark’s rise were HDFC, Tata Steel, ICICI Bank and SBI.

On the sectoral front, the BSE Realty Index shed 2 percent, followed by the Power Index which ended 1.6 percent lower. The BSE Consumer Durable Index, however, ended higher at 2.6 percent.

FIIs bought net $131.5 million in shares and sold $38 million in debt.

Data released today showed India’s infrastructure sector output grew 4.3 percent in April from a year earlier.

On the global front, Asian stocks edged lower after a buoyant session the day earlier, hitting a 2009 high on recovery hopes.

With investors cheering improving economic data across the globe, do you think the Sensex will cross 15,000 tomorrow?