Money on the markets

A maturing market amid the mayhem

Healthcare stocks surprise in a weak mkt

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MARKETS-SOUTHASIA-STOCKSThe BSE Healthcare index bucked the trend on Friday and rose over 5 percent in a weak market that saw the main index closing 0.5 percent lower.

Dr. Reddy’s shares jumped over 10 percent, Orchid Chemicals gained over 9 percent, and Aurobindo Pharma rose over 8 percent.

On a long-term perspective, stocks like Orchid Chemical have risen by over 80 percent since July.

Of the 24 scrips in the healthcare index, only two ended in the red, while 11 stocks rose 5 percent or more.

Mixed day for banking stocks

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MICROFINANCE/The BSE banking index ended marginally lower on Wednesday as the Sensex slipped over 150 points, but some banking stocks still managed to post decent gains.

Leading the pack was Indian Overseas Bank which jumped over 7 percent, and Federal Bank which gained 3.1 percent. Bigger peers like SBI and ICICI ended the day in the red.

P&G shares on a roll

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Graph showing price movement of P&G shares.Shares in Procter & Gamble Hygiene & Health Care, the Indian unit of Procter & Gamble Co., are on a rise ever since the company declared its quarterly numbers in August-end.

On Tuesday, its shares jumped by over 12 percent to 1,577 rupees and closed at their lifetime high.

Zandu Pharma zooms

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Two consecutive upper circuits of 20 percent have helped shares of Zandu Pharma cross the 10,000 rupee mark, its highest since October 2008.

ZanduThe shares closed at 10,802 on Friday after gaining 1,800 rupees and ended as the top gainer of the BSE mid-cap index.

ICICI Bank rises in weak market

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A man counts money after withdrawing it from an ATM in Jammu October 14, 2008. REUTERS/Amit GuptaShares in ICICI, India’s top private sector bank, gained 3.12 percent on Thursday in a market that ended just 33 points higher.

The banking index rose over 1 percent helped by gains in ICICI Bank, which also ended as the top Sensex gainer.

Reliance Industries – star performer of the day

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RELIANCE-OIL/Shares in Reliance Industries (RIL), India’s top listed company, surged 4.5 percent on Wednesday to 2169 rupees, helping the Sensex close marginally in the green.

RIL shares have been on the rise for four consecutive trading sessions now, adding over 12 percent over the period.

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 new IPO index

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INDIA-BUDGETThe recently launched BSE initial public offering (IPO) index gained nearly 2 percent on Monday, as the stock market surged to its 15-month closing high just above the 16,000 mark.

The index was launched on August 24 to track the value of stocks for two years after listing. It currently has 50 stocks and the maximum weighting for a stock is capped at 20 percent.

Auto index ends as top performer

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INDIA-MOTOR/SALESThe BSE Auto index ended as the top sectoral performer on Friday, gaining 2.8 percent in a market that rose nearly 300 points.

Amtek Auto was the star performer in the auto index, with its shares surging nearly 16 percent. Its shares have jumped nearly 50 percent since July.

Realty shines

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INDIA-ECONOMY/

The BSE real estate index jumped 3.8 percent on Friday and emerged as the best sectoral performer of the day as shares of top realty firms rose.

Unitech gained 5.7 percent to end at 99.1 rupees and was the most traded counter on the BSE with volumes of over 31 million shares.

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