Money on the markets

A maturing market amid the mayhem

Outsourcers slide on rising rupee

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Shares in top IT firms plunged on concerns the rising rupee would squeeze margins in the export-driven sector.

IT bellwether Infosys dropped 2.5 percent, while Wipro and TCS fell 4.2 and 3.3 percent respectively.

TCS, which contributes 2.3 percent in the 30-Share Sensitive index, led the pack in terms of turnover, ending with volumes of nearly 14 million shares.

The BSE IT Index, which has gained nearly 100 percent so far this year, ended 2.7 percent lower in a broader market that closed 0.9 percent down at 16,806.

Telecom stocks plunge

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MTN-BHARTI/Telecom stocks were in focus on Tuesday with several of them posting sharp falls, even as the Sensex recovered over 300 points to close nearly 100 points higher.

Market participants are worried that lower tariffs and increasing competition could hurt profitability of such firms. On Monday, Reliance Communications cut call charges across all networks to 50 paise/min.

Bad day at the bourses for Bharti Airtel

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A traffic policeman directs traffic under an advertisement of Bharti Airtel at a booth in Siliguri October 2, 2009. REUTERS/Rupak De Chowdhuri 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.

Bharti gains after deal collapse

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Shares in Bharti Airtel ended 4 percent higher in a broader market which ended flat.

Bharti Airtel, which carries over 4 percent weightage in the 30-share sensitive index, closed at 435 rupees with volumes of 6.8 million.

BSE Sensex surges past 17,000

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The Sensex rose 1.5 percent on Wednesday to close above the 17,000 mark for the first time since May 2008.

The rise in the benchmark was led by SBI, Maruti Suzuki, BHEL and ICICI Bank. INDIA-STOCKS/

On the sectoral front, the banking sector led the indices gaining 3.6 percent followed by the Auto index, which rose 2.1 percent. The Capital Goods ended 1.7 percent higher.

TCS gains 3.9 percent

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Shares in India’s top IT services firm by sales gained nearly 4 percent in a broader market that ended 0.96 percent up at 16,853.

The stock which carries over 2 percent weightage in the main index, closed at 610 rupees with volumes of 0.58 million.

Healthcare stocks surprise in a weak mkt

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MARKETS-SOUTHASIA-STOCKSThe 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.

Infosys drops in flat mkt

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Shares of Infosys Technologies fell over 3 percent to 2,285 rupees on Thursday in a market that saw volatile trade with the expiry of monthly derivatives.

Infosys, which has an over 8 percent weightage in the main index, dropped as much as 80 rupees with a volume of 0.3 million, making it the top loser in the index which ended flat.infy

Mixed day for banking stocks

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MICROFINANCE/The BSE banking index ended marginally lower on Wednesday as the Sensex slipped over 150 points, but some banking stocks still managed to post decent gains.

Leading the pack was Indian Overseas Bank which jumped over 7 percent, and Federal Bank which gained 3.1 percent. Bigger peers like SBI and ICICI ended the day in the red.

P&G shares on a roll

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Graph showing price movement of P&G shares.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.

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