Money on the markets

A maturing market amid the mayhem

from Expert Zone:

Hopes fade as investors await concrete action

(The views expressed in this column are the author's own and do not represent those of Reuters)

It was an action-packed week for the markets but not for the reasons we had anticipated. Manmohan Singh’s government, which was expected to announce a string of policy action steps starting with a diesel price hike, failed to make any announcements which would have cheered markets.

Instead, it got busy firefighting to pacify the NCP, a sulking ally which was threatening to move out. As feared, policy paralysis along with other international worries on the euro zone and the monsoon deficit resulted in a breakdown from support levels. After touching a low of 5034, Nifty closed the week at 5100 -- a loss of about 2 pct.

Buying peace with the NCP seems to be at the price of policy reforms. The UPA has decided to set up a co-ordination committee to screen the proposed policy actions before presenting it to the cabinet. A number of proposed reforms could be a casualty as a result of this committee and those which go through could get delayed beyond expectation. Hence, we would be slipping back into hibernation. But then, when did we ever move out of it? It was just hope.

from Expert Zone:

Get set for an action-packed week

(The views expressed in this column are the author's own and do not represent those of Reuters)

Markets continued to display weakness during the week except for a spirited, though limited, rally on July 18 after the UPA convinced belligerent ally Mamata Banerjee to fall in line for the presidential elections. The Nifty lost 0.4 pct to close the week at 5205 on political worries after the NCP, another government ally, expressed dissatisfaction with its functioning.

from Expert Zone:

India Market Weekahead – Policy action, rupee to decide market direction

(The views expressed in this column are the author's own and do not represent those of Reuters)

The week gone by displayed indecisiveness by participants as the markets garnered small gains after moving in a tight range. The Nifty managed to hold on to the 4900 level mark as investors cheered the government’s announcement to raise petrol prices in an attempt to revive the policy inaction tag.

from Expert Zone:

India Market Weekahead – Volatile market within a narrow range

(The views expressed in this column are the author’s own and do not represent those of Reuters)

A sharper-than-expected cut of 50 basis points in the repo rate boosted the benchmark indices early during the week. However, as expected, the Nifty could not gain higher than 5350 as apprehensions about the limited scope of further rate cuts suppressed sentiment.

LIVE BLOG: Sensex, Nifty plunge to 2011 lows

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The BSE Sensex and Nifty plunged to fresh 2011 lows in Wednesday trade, a day before the expiry of derivatives contracts, amid renewed worries about faltering global growth.

Sensex gains on strong economic data

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The BSE Sensex ended 2.6 percent up on Thursday on good corporate results and robust economic data.

Data released on Thursday showed infrastructure output grew 6.5 percent in June while the Wholesale Price Index fell 1.17 percent in the 12 months to July 11.

Sensex slips below 15,000; Wipro drops

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The BSE Sensex erased early morning gains of over 2 percent and ended 1.46 percent down on Wednesday as weak sentiments across Asia downplayed investor sentiments.

The 30-share sensitive index swung from an intra-day high of 15,369 to an intra-day low of 14,786 and closed 219 points lower at 14,843. MARKETS-SOUTHASIA-STOCKS/

ICICI Bank leads Sensex decline

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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.INDIA-STOCKS/6PCT

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.

TCS leads Sensex over 15,000

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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.MARKETS-SOUTHASIA-STOCKS/

Sensex range bound in choppy trade

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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.

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