Money on the markets

BSE IT index gains 3.15 pct

IT 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.

Infosys Technologies, which will unveil its results on Friday, gained 2.5 percent. Tata Consultancy Services and Wipro gained 4.6 percent and 4.5 percent respectively.

Top IT services firms are set to ring in robust quarterly profits aided by strong demand from western clients, but a rising rupee is seen crimping profit margins in the second half.

Would you invest in this sector currently?

IT counters post decent gains

The BSE IT Index gained 1.7 percent on Tuesday as expectations of revenue growth for the June quarter pushed up export-focused outsourcing firms.

All stocks in the IT index, except Mphasis, closed in positive territory, with Rolta India leading the list of gainers with a jump of 4.1 percent.

Biggies Tata Consultancy Services and Infosys rose 2.5 percent and 1.6 percent respectively, helping the Sensex in its 173-points rise.

Kotak Securities has said it expects 5.2 – 6.7 percent constant currency revenue growth for the tier-1 IT companies for the June quarter.

Do you think IT stocks will continue to rise from here?

HCL Tech drops over 5 pct

Shares in Software services firm HCL Technologies dropped on Monday as the company missed forecasts with quarterly profit dragged down a fifth by declining other income, forex losses and higher costs.

The counter ended 5.6 percent lower at 361.15 rupees with volumes of 0.3 million shares.

The BSE IT Index ended 1.3 percent lower. The fall in the index was led mainly by Tech Mahindra, which dropped 7.3 percent, Patni Computer, which was down 3.4 percent, and Financial Technologies which ended 3.02 percent lower.

Shares in HCL, which the market values at over $5.5 billion, had climbed 9.3 percent in the December quarter, underperforming the sector’s 13.5 percent increase.

Would you invest in IT stocks at this stage?

ICICI Bank leads Sensex decline

The BSE Sensex ended 0.85 percent down on Tuesday, as investors saw an opportunity to book profits after the market rallied 13.4 percent over the past five sessions.

The 30-share sensitive index swung from an intra-day high of 15,234 to an intra-day low of 14,955 and closed 128 points lower at 15,062.

The fifty-share Nifty ended 0.74 percent down to 4,469.

The fall in the Sensex was led by ICICI Bank, ITC and Infosys.

IT stocks felt some heat after a sharp rally triggered by better-than-expected Q1 June 2009 results by TCS, India’s top software services firm by sales.

The decline in IT stocks was led by TCS which fell 4.5 percent after surging over 15 percent on Monday. Infosys dropped 1.5 percent and Wipro was down 0.46 percent.

TCS leads Sensex over 15,000

The BSE Sensex extended gains on Monday to cross the 15,000 mark as hopes of recovery in corporate earnings boosted confidence worldwide.

The 30-share sensitive index swung from an intra-day low of 14,854 to an intra-day high of 15,209 and closed  446 points higher at 15,191. The fifty-share Nifty ended 2.91 percent higher at 4502.

IT stocks rose on better-than-expected Q1 results by TCS, India’s largest IT exporter by sales, announced after trading hours on Friday. Shares in TCS ended 15.34 percent higher at 500.10 rupees.

On the sectoral front, the BSE IT Index rose 7.2 percent, followed by the Realty Index which ended 4.91 percent higher. However, the BSE FMCG Index closed 0.49 percent lower.

Shares in Reliance Industries, which challenged a lower court ruling to supply gas to Reliance Natural at below-market price, ended 5.03 percent higher, while Reliance Natural shares were down 2.6 percent.

Do you see the market uptrend continuing this week?

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?

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 gains in choppy trade

The Sensex fell more than 3 percent early on Tuesday paring yesterday’s gains, but got right back into action on strong domestic buying and closed 0.1 percent up with support from positive global cues.

The benchmark swung from 13,840 in early trade to an intra-day high of 14,930 and then closed at 14,302 on profit taking. The index had gained more than 17 percent on Monday. The Nifty declined to 4,318.45, down 4.7 points.

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

On the sectoral front, the BSE Realty Index rose 12.8 percent, followed by the Banking Index which ended 6.8 percent higher. The BSE IT Index, however, ended lower at 10.1 percent on a firm rupee.

FIIs bought net $11.1 million in shares and $6.7 million in debt.

At this juncture, do you think the choice of candidates for key government posts will play a role in guiding the markets?

Sensex closes lower on profit booking

The BSE Sensex closed 1.9 percent lower on Friday but posted ninth consecutive weekly rise as investors turned net sellers from net buyers.

The benchmark closed down 240.51 points at 11,876.43, while the Nifty ended 1.7 percent down at 3,620.70.

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

On the sectoral front, the BSE Banking Index shed 3.2 percent, followed by the Metal Index which ended down 2.5 percent. The BSE Consumer Durable Index, however, ended higher at 1.8 percent.

In today’s trade, FIIs bought net $79.9 million in shares and $318.20 million in debt.

Data released today showed inflation stood at 0.70 percent in the 12 months to April 25, above the previous week’s 0.57 percent.

On the global front, U.S. regulators have asked banks to raise as much as $74.6 billion to build a capital cushion for people to restore faith in the system. Stocks across Asia climbed as the stress test results produced no big shocks.

Market choppy on profit booking

The Sensex closed marginally lower after a choppy session on Tuesday, as investors booked profits after the market rose over 10 percent in the previous two sessions.

The benchmark closed 3.6 points down at 12,131.08, while the Nifty ended 0.2 percent higher at 3,661.90.

Wipro, India’s No. 3 software services exporter, said it had won an outsourcing contract from telecoms firm Unitech Wireless. Shares in Wipro ended 1 percent higher at 368.40 rupees.

The Sensex fall was led by HDFC, Infosys, ITC and Reliance Industries.

Share in Larsen & Toubro closed 2.7 percent higher. L&T and the defence and security division of EADS are in talks to form a joint venture to make defence electronics in India.

On the sectoral front, the BSE Realty Index gained nearly 8.6 percent. This was followed by the Metal Index which ended up 3.5 percent. However, the IT index closed the day in the red, dropping 2.1 percent.

In today’s trade, FIIs bought net $295.60 million in India shares and sold $70.20 million in debt.