Money on the markets

Sensex rises in choppy trade

The BSE Sensex ended 0.9 percent up on Tuesday, recovering from yesterday’s biggest one-day drop in six months.

The benchmark turned negative during trade after rising more than 1 percent, as a large budget deficit weighed on investors’ minds. Trade was volatile and the 30-share sensitive index swung from an intra-day low of 14,000 to an intra-day high of 14,252 and closed 127 points higher at 14,170.

The fifty-share Nifty ended 0.87 percent up at 4,202.

The rise in the benchmark was led by ITC, L&T, ICICI Bank and Bharti Airtel.

On the sectoral front, the BSE Auto Index gained 3.92 percent, followed by the FMCG Index which ended 3.83 percent higher. However, the BSE Oil & Gas Index closed 1.32 percent lower.

On the global front, Asian and European markets ended lower as investors remained nervous ahead of upcoming second-quarter results.

Do you think the Sensex will recover and touch 15000 levels again?

Sensex slips on profit-booking

The BSE Sensex came under heavy selling pressure as investors booked profits in a market that has risen 80 percent since early March.

The 30-share sensitive index swung from an intra-day high of 14,668 to an intra-day low of 14,269 and closed 195 points lower at 14,326. The fifty-share Nifty ended 1.8 percent down at 4,235.

The fall in the benchmark was led by Reliance Industries, Bharti Airtel, Tata Power and NTPC.

On the sectoral front, the BSE Oil & Gas Index dropped 3.3 percent, followed by the Power Index which ended 2.4 percent lower. However, the BSE FMCG Index closed 0.49 percent higher.

On the global front, Asian markets rose on Monday while European markets traded weak. Oil was trading below $69 a barrel, pressured by a stronger dollar. A strong dollar can limit the demand for oil and commodities.

FIIs sold net $5.4 million in shares and bought $21.8 million in debt.

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 slips 1.7 pct; WPI slips to 30-year low

The BSE Sensex traded weak on Thursday as investors continued to book profits after it surged nearly 80 percent since early March.

The 30-share sensitive index swung from an intra-day high of 14,631 to an intra-day low of 14,188, and closed 257 points lower at 14,266. The fifty-share Nifty ended 2.4 percent down at 4251.

The fall in the benchmark was led by L&T, ICICI Bank, ONGC and Reliance Industries.

On the sectoral front, the BSE Realty Index dropped 5.8 percent, followed by the Metal Index which ended 4.8 percent lower. However, BSE IT Index closed 0.17 percent higher.

WPI fell 1.61 percent in early June on an annual basis for the first time in three decades.

FIIs sold net $47.3 million in shares and $7.5 million in debt.

Do you think the current sell off will continue on Friday? Will the Sensex slip below the 14,000 mark?

Reliance leads Sensex fall

The Sensex fell on Monday as an unfavourable court ruling saw a sell off in shares of Reliance Industries. Investor sentiments were also dampened by weak Asian markets.

The 30-share sensitive index swung from an intra-day high of 15,261 to an intra-day low of 14,808, and finally closed 362 points lower at 14,857. The fifty-share Nifty ended 2.1 percent lower at 4484.

The fall in the benchmark index was led by Reliance Industries, L&T and Sterlite Industries.

Sensex heavyweight Reliance Industries fell over 7 per cent after the Bombay High Court directed it to supply gas to former group firm Reliance Natural Resources at about half the government-approved price.

On the sectoral front, the BSE Oil & Gas Index dropped 4.5 percent, followed by the Metal Index which ended 3.8 percent lower. The BSE FMCG Index, however, ended higher at 0.58 percent.

On the global front, most Asian stocks registered a decline, pulling further from the 8-month high on renewed worries about the health of the global economy.

FIIs bought net $109.4 million in shares and $15.8 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.

Sensex tops 12,000 on Reliance, Infosys

The BSE Sensex closed 6.4 percent higher on Monday, its biggest one-day gain in six months, boosted by encouraging manufacturing data at home and renewed investor activity across Asia. The benchmark closed 731.5 points higher at 12,134.75, while the Nifty ended 5.1 percent higher at 3654.

The rise in the Sensex was led by Reliance Industries, Infosys and ICICI Bank.

On the sectoral front, the BSE Metal Index gained nearly 8.7 percent. This was followed by the IT Index which ended up 8.4 percent. All sectoral indices closed the day in the green.

In today’s trade, FIIs bought net $68.3 million in India shares and $32.8 million in debt.

Manufacturing, which constitutes approximately 16 percent of the GDP, has seen some revival mainly due to the surge in new orders. Data showed the new orders index rose to 54.9 from 49.5 in March.

Investors today cheered the rise in PMI, which points to a marginal recovery in economic activity.

Do you think the recent economic development across the globe has the potential of taking the Sensex to 13,000 levels?

Sensex choppy on mixed bag of results

The BSE Sensex closed 0.74 percent lower on Wednesday as weak Asian markets dampened sentiments and investors booked profits for a third session.

The benchmark erased early gains and closed 80.57 points down at 10,817.54, while the Nifty ended 1.04 percent down at 3330.3.

The fall in the Sensex was led by L&T, ONGC, BHEL and SBI.

On the sectoral front, the BSE Realty Index lost nearly 4.6 percent. This was followed by the BSE Consumer Durable Index which was down 3.9 percent. However, the BSE FMCG Index bucked the trend and gained 0.18 percent.

Cement maker ACC posted better-than-expected 23 percent rise in quarterly profit on strong sales volumes. The stock ended 5.2 pct higher at 645.75 rupees.

Outsourcer Wipro beat expectations with a 4 percent rise in profit, although it forecast a fall in June quarter revenue. Shares in Wipro ended 2.7 percent higher at 281.65 rupees.

Globally, there was an air of caution amongst investors despite U.S. Treasury Secretary Geithner saying most U.S. banks had adequate capital to keep lending.

Sensex remains choppy despite rate cut

The BSE Sensex closed 0.74 percent lower on Tuesday, tracking weak Asian markets and a downward bias of growth forecast by the RBI.

The benchmark closed 81.39 points lower at 10,898.11, while the Nifty ended 0.35 percent down at 3,365.30. The Sensex fall was led by ICICI Bank, L&T, Infosys and SBI.

The Reserve Bank of India (RBI) in its latest policy review slashed its repo and reverse repo rates by 25 basis points each, but left the cash reserve ratio unchanged at 5.0 percent.

The central bank has moderated its growth forecast to 6 percent for the year 2009/10 from 6.5-6.7 percent.

On the sectoral front, the rate cuts could not help the banking stocks much, and the banking index lost nearly 2.8 percent. This was followed by the BSE Auto Index which was down 2.5 percent. However, the BSE Realty Index bucked the trend and gained 2.2 percent.

On the global front, Asian markets remained weak after news of mounting bad loans of Bank of America (which has received $45 billion of taxpayers’ money) raised further concerns of a global financial system.

The RBI, in its latest endeavour to shore-up growth, has brought down both its key policy rates, but will this force commercial banks to reduce lending and deposit rates that in turn can boost loan growth? Do you see another round of rate cuts in the offing?