Money on the markets

A maturing market amid the mayhem

Telecom stocks struggle, Bharti falls nearly 4.5 pct

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Telecom stocks started the week on a disappointing note, with Bharti Airtel slipping 4.4 percent and Reliance Comm ending down over 1 percent.

Bharti Airtel was also the top Sensex loser. Smaller competitor Idea Cellular closed 2.85 percent lower.

The telecom sector has gone out of favour with investors after firms slashed call tariffs, raising concerns about their profitability.

Bharti Airtel’s shares have dropped as much as 34 percent since October, while rival Reliance Communication has lost 44 percent over the same period.

Reliance Industries shines

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Shares in Reliance Industries gained 2 percent on Friday, helping the BSE Sensex gain 236 points.

RIL shares had fallen more than 3 percent over the last three days in the absence of any major announcement at the company’s annual general meeting earlier this week.

Realty sector feels the heat

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INDIAThe BSE Realty Index topped the list of sectoral losers on Thursday, with the index falling 4.3 percent as real estate stocks came under pressure.

Indiabulls Real Estate, HDIL and Unitech slipped over 5 percent each and ended as the top losers in the index. Phoenix Mills was the only counter on the index that closed in the green.

Weak day for oil & gas stocks

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Shares in ONGC dropped over 2 percent and ended as the top Sensex loser as the broader market closed just 18 points higher.

The Oil & Gas Index slipped around 0.7 percent in trade, with ONGC, BPCL and Reliance among the losers.

Auto stocks post healthy gains

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The BSE Auto index rose 1.5 percent on Friday, taking the festive season-backed gains for the month to 7.4 percent.

Hero Honda and Maruti Suzuki rose 4 percent each in trade, ending as the top gainers among the Sensex components. Exide Industries surged 8.6 percent.

Metal stocks rally

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It was a good day at the bourses for metal stocks, with the BSE Metal Index gaining 4.2 percent in a broader market that jumped over 400 points.

All stocks in the metal index closed in the green, with Gujarat NRE Coke and Sesa Goa leading the pack with gains of over 7 percent each.

Bharti Airtel struggles in trade

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INDIA-BHARTI/AIRTELShares in Bharti Airtel, India’s top mobile operator, dropped over 4 percent on Tuesday as a bleak outlook for the sector hit telecom shares.

Losses in Bharti, the top Sensex loser, also weighed on the Sensex which closed down around 60 points.

RIL shares jump over 3 percent

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Shares in Reliance Industries (RIL) gained 3.4 percent on Monday on a newspaper report that the country’s top listed firm was in acquisition talks overseas.

The Economic Times said the company was close to a nearly $6 billion acquisition and the likely target was the assets of petrochemicals firm LyondellBasell.

Banking Index gains

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The BSE Sensex posts its first weekly gain in three weeks helped by India’s top lender SBI and Sensex heavyweight ICICI Bank.
MARKETS-SOUTHASIA/STOCKS
Shares in SBI ended 3 percent higher at 2204 rupees posting its biggest rise in three weeks, while ICICI Bank which holds over 7 percent weightage in the 30-share Sensitive index ended 0.48 percent to 848 rupees.

The BSE Banking Index ended 1.7 percent higher on Friday while for the year it has gained over 70 percent.

Patni computer rises

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Shares in Patni Computer ended 8.2 percent higher at 494 rupees in a broader market which ended nearly 1 percent up.

INDIA

Shares in the company rose on a newspaper report that L&T Infotech is in talks to acquire majority stake in the company.

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