Money on the markets

A maturing market amid the mayhem

SBI shares gain over 4 pct

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Shares of India’s biggest bank, State Bank of India (SBI), gained over 4 percent on Tuesday and ended as the top gainer in the banking index.

SBI’s chairman said that earnings of the bank are seen rising 30-35 percent in the current quarter, with retail loans growing at about twice the pace from the year earlier.

The banking index, which ended just 0.4 percent higher, has gained over 90 percent since April.

Shares in SBI closed at 1894 rupees, and have gained 78 percent since April. In terms of returns, India’s top private sector bank ICICI has outperformed SBI with a return of 138 percent during the same period.

Sensex jumps 1200 points in five sessions

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INDIAThe BSE Sensex closed 3.5 percent higher on Friday, taking the week’s gains to over 1200 points as investors cheered the government’s talk of reforms.

Investor sentiments also had plenty of support from strong global markets.

The benchmark posted a near 500-points gain with stocks like ICICI, HDFC and ITC surging. The Nifty index rose by over 140 points.

Sensex rises over 450 points, DLF jumps

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INDIA-STOCKS/JUMPInvestors breathed a sigh of relief on Tuesday as the Sensex jumped 453 points to 13,854, regaining some ground after losing over 1500 points in the past six sessions.

The stock market took cues from strong global markets and upbeat economic data from some regions.

Sensex bounces back, ends 461 pts higher

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INDIASensex gained 461 points on Tuesday to close well above the 15,000 mark as long-term investors saw an opportunity to enter the market after the previous day’s fall.

The benchmark index managed to recover all of Monday’s losses.

Satyam remained in focus after it posted a consolidated net profit of 1.6 billion rupees in the December quarter. Its shares jumped on this news and hit an upper circuit of 10 percent.

Sensex drops 438 pts on profit-booking

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INDIA-BUDGETThe benchmark index slumped 438 points to below 15,000 as investors booked profits after a sharp rally over the past three months.

Weak global cues also dampened sentiments and the Sensex ended 2.9 percent down at 14, 666. The Nifty closed 3.4 percent lower.

Sensex extends gains, up 14 pct over 5 sessions

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INDIA-MARKETS/The stock market ended 1.1 percent higher on Friday at 13,887, on account of buying by some funds, taking its gains for the week to 14 percent.

The election result has helped in restoring battered investor confidence.

Heavyweight stocks like Reliance Industries, ICICI Bank and L&T led the benchmark rise.

Sensex jumps before election results

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INDIA-STOCKS/The Sensex rose 301 points to 12,173 on investor optimism about the formation of a stable government.

Index heavyweight and top private lender ICICI Bank gained over 7 percent to close at 574 rupees. Its shares have gained 28 percent this year.

Sensex gains over 400 points, ICICI jumps

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INDIA-STOCKS/The stock market bounced back smartly today, gaining over 400 points to recover all of yesterday’s losses.

Short covering ahead of the derivatives expiry today helped the benchmark’s rise as it closed at 11,403.

Sensex falls 3.25 pct, flu fears weigh

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MARKETS SOUTHASIA STOCKSIt was a bad day for the markets as the Sensex dropped 370 points to close at 11,001, taking cues form weakness in global markets.

Concerns about the financial sector and fears about a possible flu pandemic also weighed on sentiments.

Sensex ends marginally higher, ICICI jumps

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MARKETS-SOUTHASIA-STOCKS/The stock market seesawed throughout trade today and ended marginally higher at 11,372, as investors covered short positions ahead of the monthly derivatives expiry.

The benchmark had risen over 1 pct during trade, but was unable to sustain it and closed just 42 points higher.

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