The market stayed firm in mid-afternoon trade on sustained buying demand for index pivotals. Turnover was healthy today and it crossed Rs 4,500 crore on BSE. European markets which opened after Indian market, were mixed while Asian markets which opened before Indian market, extended early gains today, 24 September 2007. US markets posted gains on Friday, 21 September 2007.
At 13:32 IST, the 30-shares BSE Sensex was up 199.75 points or 1.20% to 16,763.55. It opened higher at 16,697.89 and advanced further to hit an intra-day high of 16,820.53. It intra-day low for the day, so far, is at 16,599.66.
At the day's high of 16,820.53, Sensex gained 256.30 points for the day
The S&P CNX Nifty was up 70.30 points or 1.45% to 4,907.95. It struck an all time high of 4913.35
The market had opened on a buoyant note but come off lower level after an initial sharp surge. Both the niche indices BSE Sensex and S&P CNX Nifty struck all time highs in early trade.
The market breadth turned negative on BSE with 1384 shares declining as compared to 1294 that advanced. 53 remained unchanged. It was strong in opening trade.
The BSE Mid-Cap index rose 1.31% to 7,294.30 after hitting an all time high of 7,305.31. While the BSE Small-Cap index gained 0.80% to 8,966.37 after hitting an all time high of 9,013.35..
The total turnover on BSE amounted to Rs 4679 crore by 13:30 IST as compared to Rs 3654 crore by 12:30 IST
Among the 30-member Sensex pack, 22 advanced while the rest declined.
India’s top private sector utility company in terms of revenue Reliance Energy (REL) surged 8.95% to Rs 1100 on 17.16 lakh shares. The stock hit all-time high of Rs 1130.70 in intra-day trade. It was the top gainer from Sensex pack. As per recent reports, REL is scouting for coal mines in Indonesia, Australia, Africa and Mozambique and it sees infrastructure projects such as road and rail transport as key growth drivers.
India’s top small car market by market shares, Maruti Suzuki India rose 4.80% to Rs 974. Last week, Foreign Investment Promotion Board (FIPB) cleared its to form a joint venture for setting up an exhaust parts manufacturing facility in Haryana with Japan's Futaba Industrial Company.
The proposal, which will see an FDI inflow of around Rs 45.90 crores with Futaba holding 51% in the venture.
Bharti Airtel, India’s largest listed cellular services provider by net sales rose 1.90% to Rs 935.50. As per reports, it has got licence to start Direct-To-Home (DTH) services in the country and announced an investment of Rs 150 crores in the first phase to launch nation-wide operations, a move that would bring in much required competition in the DTH segment. Also another set of reports state that Bharti Airtel may get extra spectrum for Delhi and Mumbai under the existing subscriber-base norms.
Leading engineering companies - Larsen & Toubro (up 2.10% to Rs 2846) and Bhel (up 2.38% to Rs 2013) gained on fresh buying.
India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) rose 2.20% to Rs 2324.50 on 4.02 lakh shares. It hit an all time high of Rs 2338 in early trade. RIL said on Saturday, 22 September 2007 that it has struck oil in the deepwater block KG-D4 located in the Krishna Basin. The commercial viability of the discovery is being evaluated. RIL holds 100% participating interest in this block, which spans over an area of 8100 sq. kms. The rumors about RIL’s oil find had already hit the market on Friday, 21 September 2007.
India’s second largest listed telecom services provider Reliance Communications jumped 3.22% to Rs 598 on high volumes of 31.15 lakh shares. A block deal of 14.10 lakh shares was struck on at Rs 590 per share in early trade.
IT shares extended recent fall. India’s second largest software services exporter Infosys Technologies was the top loser from Sensex pack. It slipped 2.85% to Rs 1770 on 1.82 lakh shares
Other IT pivotals, Satyam Computers (down 1.87% to Rs 411), TCS (down 1.03% to Rs 1004.50), were not spared either
ITC (down 1.56% to Rs 187.80) and Ambuja Cements (down 2.51% to Rs 143.50) were the other losers from Sensex pack.
Reliance Natural Resources was the top traded counter on BSE with turnover of Rs 271.06 crore followed by IFCI (Rs 318.73 crore), Reliance Petroleum (Rs 264.72 crore), Reliance Energy (Rs 189.99 crore), and Reliance Communications (Rs 184.62 crore).
IVRCL Infrastructures & Projects slipped 1.25% to Rs 409.90. It received new orders worth Rs 394.24 crore. The Pune region of the company has received these orders for its building division and for power division.
European markets which opened after Indian market, were mixed today, 24 September 2007. Key benchmark indices from Germany (down 0.29% to 7,772.05), and France (down 0.28% to 5,684.48), declined. However United Kingdom
Asian markets which opened before Indian market, extended early gains today, 24 September 2007. Hong Kong's Hang Seng (up 2.77% at 26,650.08), Shanghai Composite (up 0.54% to 5,484.56), and Singapore's Straits Times (up 2.43% at 3,628.15) advanced. Stock markets in Japan, South Korea and Taiwan were closed for public holidays.
US stocks posted steady gains on Friday, 21 September 2007 capping a strong week for Wall Street, as investors drew confidence from strong results at Oracle Corp. and a continued sense that lower interest rates should help bolster the economy. The Dow Jones industrial average rose 53.49, or 0.39%, to 13,820.19. Broader stock indicators also rose. The Standard & Poor's 500 index advanced 7.00, or 0.46%, to 1,525.75, while the Nasdaq Composite index rose 16.93, or 0.64%, to 2,671.22.
Indian market may, however, turn volatile this week ahead of the expiry of September 2007 futures & options (F&O) contracts on Thursday, 27 September 2007.
Crude oil prices dipped on Monday, 24 September 2007 as oil and gas producers in the Gulf of Mexico restored more output after a mild storm triggered evacuation and production cuts. US crude for November delivery fell 22 cents to $81.40 a barrel.
As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 762.13 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 277.68 crore on Friday, 21 September 2007
The 30-shares BSE Sensex surged 216.28 points or 1.32% at 16,564.23, an all time closing high on Friday, 21 September 2007. The barometer index hit all-time high of 16,616.84 in late trade on that day. From a recent low of 13,989.11 on 21 August 2007, the Sensex surged 2557.12 points or 18.27% in just 23 trading days to 16,564.23 on Friday, 21 September 2007.
The market posted weekly gains for fifth straight week, with the BSE Sensex surging 960.43 points or 6.16% to 16,564.23 in the week ended Friday, 21 September 2007. This is the biggest weekly gain ever posted by Sensex. The S&P CNX Nifty rose 319.55 points or 7% at 4,837.55 during the week.
No comments:
Post a Comment