Money on the markets

A maturing market amid the mayhem

Sensex extends rise above 14,500

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INDIAThe Sensex ended the month with a flourish, closing 2.3 percent higher on Friday which helped it post the biggest monthly rise in 17 years as positive economic data lifted investor sentiments.

Helping the rally was better-than-expected GDP figure for the March quarter.

The top Sensex gainers included ACC, DLF and JP Associates, all gaining over 8 percent each.

Oil firms were in focus today, with the government indicating that it was likely to allow market pricing of fuels. HPCL shares surged 8.3 percent, IOC gained nearly 7 percent and BPCL ended 3.75 percent up.

Some oil marketing companies also announced their results. BPCL’s Jan-March net profit stood at 36.28 billion rupees, and IOC’s profit was 66.2 billion rupees.

Market rises on short covering

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INDIA-BUDGETThe good times continue for the market. The benchmark extended its rally on Thursday and ended 186 points up as investors covered short positions on the last date of derivatives expiry.

Engineering firm L&T beat forecast with strong quarterly numbers. Its shares closed 2.3 percent up.

Sensex gains over 500 points

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INDIAThe Sensex jumped over 500 points today to close above the 14,100 mark, recovering all of Tuesday’s losses, on investor optimism about a recovery in the global economy.

The rally was led by heavyweight counters like ICICI, ONGC and Reliance Industries.

Sensex falls 324 points on profit booking

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MARKETS-SOUTHASIA STOCKS-The Sensex dropped 2.3 percent in trade to close at 13,589 points as investors resorted to profit booking to reap benefits of the surge over the past few weeks.

Weak Asian and European markets also weighed on sentiments.

Losses in heavyweight stocks like ICICI Bank, Reliance Industries and Bharti Airtel dragged the benchmark lower by over 300 points.

Sensex gains 26 points, Bharti falls

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INDIA-BUDGETThe Sensex seesawed through the day to end marginally higher at 13,913 points, after a historic last week when it had surged over 14 percent.

Bharti Airtel was in the limelight after it announced the restart of merger talks with South Africa’s MTN. The news saw Bharti’s shares closing 5.4 percent down on fears that its earnings would initially be diluted after the deal. The counter had risen by over 8 percent earlier in the day.

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 closes lower, DLF gains

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INDIA-STOCKS/6PCTThe Sensex closed 1.2 percent lower at 11,873, recovering close to 200 points from the day’s low of 11,695 as investors remained jittery about the final outcome of the general election.

The benchmark was dragged lower by heavyweights Bharti Airtel, Reliance Industries and ICICI Bank.

Sensex slips over 1 pct after volatile trade

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MARKETS-SOUTHASIA-STOCKS/The Sensex managed to close a tad above the 12,000 mark after a choppy session as wary investors booked profits after yesterday’s rally and awaited exit polls for cues.

An over 1 percent loss in Reliance Industries and a 3.4 percent loss in ONGC led the benchmark lower to close at 12,020 points.

Sensex jumps 475 points led by Reliance

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INDIA-BUDGETAfter a relatively quiet start in the morning, the benchmark stock index rallied and closed 475 points higher even as factory output data disappointed.

There was speculation that the BJP-led alliance, perceived as market friendly, was gaining momentum in the elections.

Sensex slips 193 pts, political uncertainty weighs

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INDIA-STOCKS/6PCTThe outcome of the elections this weekend weighed on investors’ minds as the benchmark slipped nearly 200 points to close at 11,683.

Some index heavyweights took a beating – Reliance Industries slipped 1.98 percent, SBI ended 4.8 pct lower and L&T dropped 2.8 percent.

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