Money on the markets
A maturing market amid the mayhem
M&M stock rises in weak market
Shares in Mahindra & Mahindra rose nearly 4 percent to 928 rupees and ended as the top Sensex gainer, even as the benchmark index dropped over 200 points.
The company reported its quarterly numbers on Wednesday and said net profit nearly trebled, helped by cost cuts and strong sales.
Its shares, which ended as the top gainer in the BSE Auto index, touched an intra-day high of 942 rupees before closing at 928 rupees.
The stock has returned a tad over 5 percent this month, better than the 6.2 percent drop in the auto index.
FMCG stocks outperform market
The BSE FMCG index gained over 3 percent on Friday and ended as the top sectoral performer, even as the markets closed just 21 points up.
All stocks in the index, except Marico, closed in the green, led by Dabur India which rose 5.8 percent and ITC which gained nearly 5 percent.
Infosys shines in weak market
Shares in Infosys gained over 2.1 percent on Thursday in a broader market that slipped over 200 points.
Gains in Infosys helped the BSE IT index close 0.8 percent higher. Eleven of 16 stocks in the IT index however closed in the red.
Weak day for oil & gas stocks
The BSE Oil & Gas index dropped 1.7 percent on Tuesday, ending as the top sectoral loser of the day as shares of Reliance Industries and ONGC slipped.
Essar Oil was the top loser in the index, closing down 4 percent. ONGC too came under pressure and slipped 2.4 percent.
Tata Motors’ shares drop 6.6 pct
Tata Motors, India’s largest commercial vehicle maker, ended the week on a disappointing note with its shares registering a drop of 6.6 percent.
The stocks declined 7.4 percent on the NSE.
Tata Motors was the top Sensex loser and also pulled the BSE Auto Index down 1.72 percent, making it the worst sectoral performer of the day.
Bad day at the bourses for Bharti Airtel
Shares of Bharti Airtel, India’s top mobile operator, slipped 8 percent on Monday and ended as the top Sensex loser.
Bharti shares closed down rupees 34.85 at 400.25 with volumes of over 6 million on the BSE, making it one of the most traded counters.
Healthcare stocks surprise in a weak mkt
The 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.
P&G shares on a roll
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
Two consecutive upper circuits of 20 percent have helped shares of Zandu Pharma cross the 10,000 rupee mark, its highest since October 2008.
The shares closed at 10,802 on Friday after gaining 1,800 rupees and ended as the top gainer of the BSE mid-cap index.
Reliance Industries – star performer of the day
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.
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