Sensex strikes all-time high above 16,600 in late rally

The market surged towards the latter part of the trading session led by propelled by heavy buying in index pivotals especially for Reliance group stocks. Total turnover on BSE jumped above the Rs 8000 crore mark. Both the niche indices BSE Sensex and S&P CNX Nifty struck all time highs. IT pivotals bounced back after initial slide

Asian markets, which opened before Indian markets, were mixed today, 21 September 2007. European markets, which opened after Indian markets, were in the green. US markets finished lower yesterday, 20 September 2007.

Inflation based on the wholesale-price-index rose 3.32% for the week ended 8 September 2007 as against 3.52% in the previous week.

The 30-shares BSE Sensex surged 252.24 points or 1.54% to 16,600.19, as per provisional closing. It opened slightly higher at 16,308.09 and slipped to touch intra-day low of 16,308.09. from here it staged a solid rally to hit an all time high of 16,616.84 in late trade.

The market came off higher level in mid-morning trade. Before that it had recovered from lower level after it had slipped into the red in early trade.

The S&P CNX Nifty surged 100 points or 2.11% to 4,847.55, as per provisional closing boosted by some of the non-Sensex constituents in the index. It hit an all time high of 4,855.70

A number of stocks are common in the two niche indices viz. 30-share BSE Sensex and 50-share Nifty. But Nifty being broader based index, it has more constituents and some of the Nifty constituents are not a part of Sensex.

The market breadth was negative on BSE with 1615 shares declining as compared to 1149 that advanced. 51 remained unchanged

As per provisional closing, the BSE Mid-Cap index rose 0.95% to 7,200.33 after hitting an all time high of 7,231.90. The BSE Small-Cap index gained 0.22% to 8,895.88, after hitting an all time high of 8,964.29. Both these indices underperformed the Sensex.

The total turnover on BSE surged above the Rs 8000 crore mark. It amounted to Rs 8198 crore as compared to Rs 6389 crore by 14:30 IST boosted by 4 massive block deals of 1.62 crore shares each struck on Ambuja Cements counter on BSE in opening trade. These deals were executed at an average rate of Rs 149.48 per share. Ambuja Cements was the top traded counter on BSE with total turnover of Rs 1053.05 crore. The scrip rose 1.95% to Rs 149 on huge volumes of 7.05 crore shares.

Among the 30-member Sensex pack, 19 advanced while the rest declined.

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) recovered sharply from its day’s low of Rs 2151.10. It advanced 4.56% to Rs 2292 on 8.70 lakh shares. It hit an all-time high of Rs 2294. As per reports it has found oil in its D4 block in the Krishna Godavari (KG) Basin. The company completed the technical testing in the block KG (D4) on 8 September 2007 and is in the process of informing the Directorate General of Hydrocarbons (DGH). The company had started drilling the third well in the block from 16 July 2007.

State Bank of India (up 4.02% to Rs 1830), Bharti Airtel (up 3.52% to Rs 922.25), and Hindustan Unilever (up 3.13% to Rs 220.85), were the other gainers from the Sensex pack.

India’s top private sector utility company in terms of revenue Reliance Energy (REL) gained 2.46% to Rs 1012 on 12.32 lakh shares. The stock hit all-time high of Rs 1033 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. It also plans to raise $12.0-$12.5 billion in debt over the next seven to eight years to expand generation capacity nearly 16 times to 15,000 mega watt

India's largest engineering & construction firm by revenue Larsen & Toubro climbed up 1.23% to Rs 2780 on recent reports that the company is eyeing a stake in Feedback Ventures, a leading integrated infrastructure services firm.

India’s largest oil exploration company in terms of market capitalisation Oil and Natural Gas Corporation (ONGC) gained 2.44% to Rs 927.50. It has reportedly sought a steep hike in the price of gas to Rs 4,500 per thousand cubic metre from the present Rs 3,200 per thousand cubic metre. ONGC hopes to gain Rs 2000 crore in revenues annually if prices were raised.

IT stocks saw high volatility today. They declined in early trade but later staged a sharp recovery on value buying.

India’s third largest software services exporter Wipro rose 1.70% to Rs 440.85. It had slipped to 52-week low of Rs 425 earlier during the day.

Satyam Computers was down 0.31% to Rs 420, off day's low of Rs 401.50. Infosys Technologies gained 1.40% to Rs 1793, off session's low of Rs 1751.50. TCS gained 1.72% to Rs 1018 after touching 52-week low of Rs 978 earlier during the day.

Infosys Technologies ADR slipped 4.59% to $47.02 overnight on Nasdaq. Other IT ADRs also edged lower. Wipro (down 2.74% to $ 13.83), Patni Computer Systems (down 2.33% to $ 23.28), and Satyam Computers (down 3.70% to $24.76) declined.

The Indian rupee was trading almost unchanged 39.90, as compared to yesterday’s (20 September 2007), closing of 39.89/39.90. A rise in rupee impacts the margins of IT companies as they earn over 50% of revenues from exports

India’s top power generation company in terms of net profit, NTPC lost 2.49% to Rs 184.40 on 62.13 lakh shares. It was the top loser from Sensex pack.

ITC (down 2.20% to Rs 189.65), Hindalco (down 1.33% to Rs 159.95), and Cipla (down 0.89% to Rs 167.45), were the other losers from Sensex pack.

Reliance Natural Resources surged 34.68% to Rs 76.50 on huge volumes of 9.44 crore shares on reports that the company has applied for a license to undertake city gas distribution business in Delhi, Mumbai, Gurgaon and Noida. It hit an all time high of Rs 79.20 on BSE

Meanwhile, foreign institutional investors' net inflow in the country crossed $10 billion so far in this year with an investment of $5.75 billion in the month of July 2007, highest ever in a month. FIIs made a net purchase worth about $10.5 billion in equity and debt markets since the beginning of 2007, topping the total net investment of $8.87 billion in the entire year 2006. Total FII inflow so far in the country is $61 billion. The number of FIIs registered with the market regulator has increased to 1,063 in July 2007 from 934 last year.

European markets, which opened after Indian markets, were trading with gains. Key benchmark indices from United Kingdom (up 0.45% to 6,457.08), Germany (up 0.46% to 7,770.13), and France (up 0.28% to 5,704.47), advanced

Asian markets which opened before Indian markets, were mixed today, 21 September 2007. Taiwan Weighted (up 1.36% at 9,105.28), Hang Seng (up 0.56% at 25,843.76), and South Korea's Seoul Composite (up 0.54% to 1,919.26), rose

Singapore's Straits Times (down 0.29% to 3,542.22) and Japan's Nikkei (down 0.62% or at 16,316.74), slipped

US stocks retreated yesterday, 20 September 2007 impacted by mixed earnings reports, a tumbling dollar and surging oil prices. The Dow Jones Industrial Average fell 48.86 points, or 0.35%, to 13,766.70. Broader stock indices also declined. The Standard & Poor's 500 index fell 10.28 points, or 0.67%, to 1,518.75, and the technology-dominated Nasdaq Composite index fell 12.19 points, or 0.46%, to 2,654.29.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 1627.44 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 564.28 crore on Thursday, 20 September 2007

Crude oil prices held near $82 a barrel on Friday, 21 September 2007 after hitting a record of $84.10 the previous day, 20 September 2007 as a tropical depression forced the shutdown of Gulf of Mexico output and sparked supply fears ahead of peak winter fuel demand. US crude for November delivery, the new front month, dipped 6 cents to $81.72 a barrel. London Brent November crude rose 3 cents to $79.12 per barrel.

The 30-shares BSE Sensex rose 25.20 points or 0.15% at 16,347.95, an all time closing high, on Thursday, 20 September 2007. It hit an all-time high of 16,415.88 in intra-day trade on that day. The S&P CNX Nifty gained 15.20 points or 0.32% at 4,747.55, an all time closing high, on Thursday, 20 September 2007. It struck an all-time high of 4759.55 in intra-day trade

Sensex, Nifty strike new highs

The market surged towards the latter part of the trading session led heavy buying in index pivotals especially for Reliance group stocks. Total turnover on BSE jumped above the Rs 8000 crore mark. Both the niche indices BSE Sensex and S&P CNX Nifty struck all time highs. IT pivotals bounced back after initial slide

Asian markets, which opened before Indian markets, settled on mixed note today, 21 September 2007. European markets, which opened after Indian markets, were in the green. US markets finished lower yesterday, 20 September 2007.

Inflation based on the wholesale-price-index rose 3.32% for the week ended 8 September 2007 as against 3.52% in the previous week.

The 30-shares BSE Sensex surged 216.28 points or 1.32% at 16,564.23, an all time closing high. It opened slightly higher at 16,308.09 and slipped to touch intra-day low of 16,308.09. From here it staged a solid rally to hit an all time high of 16,616.84 in late trade.

The market came off higher level in mid-morning trade. Before that it had recovered from lower level after it had slipped into the red in early trade.

From a recent low of 13,989.11 on 21 August 2007, the Sensex has surged 2557.12 points or 18.27% to 16,564.23, in just 23 trading days.

The S&P CNX Nifty surged up 90 points or 1.90% at 4,837.55, an all time closing high. The sharper surge in Nifty when compared to Sensex was due to rally in some of the non-Sensex constituents in the index. Nifty hit an all time high of 4,855.70. The Nifty September 2007 futures settled at 4863, a sharp premium of 25.45 points as compared to spot closing

A number of stocks are common in the two niche indices viz. 30-share BSE Sensex and 50-share Nifty. But Nifty being broader based index, it has more constituents and some of the Nifty constituents are not a part of Sensex.

The market breadth was negative on BSE with 1615 shares declining as compared to 1149 that advanced. 51 remained unchanged

The BSE Mid-Cap index rose 0.94% to 7,199.92 after hitting an all time high of 7,231.90. The BSE Small-Cap index gained 0.22% to 8,895.88, after hitting an all time high of 8,964.29. Both these indices underperformed the Sensex.

The total turnover on BSE surged above the Rs 8000 crore mark co. It amounted to Rs 8198 crore compared to Rs 7221 crore yesterday, 20 September 2007.

Four massive block deals of 1.62 crore shares each were struck on Ambuja Cements counter on BSE in opening trade. These deals were executed at an average rate of Rs 149.48 per share. Ambuja Cements was the top traded counter on BSE with total turnover of Rs 1053.05 crore. The scrip rose 1.95% to Rs 149 on huge volumes of 7.05 crore shares.

The NSE F&O turnover was Rs 75,928.77 crore as compared to Rs 58327.40 crore yesterday, 20 September 2007

Most of the sectoral indices on BSE posted gains. BSE Realty index (up 1.54% to 9,183.44), BSE Oil and Gas Index (up 3.55% at 9,340.05) and BSE TecK index (down 1.62% to 3,638.25) outperformed the Sensex.

BSE Auto Index (up 1.10% at 5,193.50), BSE PSU index (up 1.28% to 7,780.84), BSE Capital Goods Index (up 0.89% at 14,520.17), BSE Consumer Durables index (down 0.35% to 4,748), BSE FMCG Index (down 0.59% at 2,152.99), BSE Metal Index (up 0.70% at 12,812.76), BSE Health Care Index (down 0.54% at 3,654.24), BSE Bankex (up 0.59% at 8,739.84) and BSE IT Index (up 0.86% at 4,428.34) were underperformers

Among the 30-member Sensex pack, 19 advanced while the rest declined.

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) recovered sharply from its day’s low of Rs 2151.10. It advanced 4.56% to Rs 2292 on 8.70 lakh shares. It hit an all-time high of Rs 2294. As per reports it has found oil in its D4 block in the Krishna Godavari (KG) Basin. The company completed the technical testing in the block KG (D4) on 8 September 2007 and is in the process of informing the Directorate General of Hydrocarbons (DGH). The company had started drilling the third well in the block from 16 July 2007.

State Bank of India (up 4.02% to Rs 1830), Bharti Airtel (up 3.52% to Rs 922.25), and Hindustan Unilever (up 3.13% to Rs 220.85), were the other gainers from the Sensex pack.

India’s top private sector utility company in terms of revenue Reliance Energy (REL) gained 2.46% to Rs 1012 on 12.32 lakh shares. The stock hit all-time high of Rs 1033 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. It also plans to raise $12.0-$12.5 billion in debt over the next seven to eight years to expand generation capacity nearly 16 times to 15,000 mega watt

India's largest engineering & construction firm by revenue Larsen & Toubro climbed up 1.23% to Rs 2780 on recent reports that the company is eyeing a stake in Feedback Ventures, a leading integrated infrastructure services firm.

India’s largest oil exploration company in terms of market capitalisation Oil and Natural Gas Corporation (ONGC) gained 2.44% to Rs 927.50. It has reportedly sought a steep hike in the price of gas to Rs 4,500 per thousand cubic metre from the present Rs 3,200 per thousand cubic metre. ONGC hopes to gain Rs 2000 crore in revenues annually if prices were raised.

IT stocks saw high volatility today. They declined in early trade but later staged a sharp recovery on value buying.

India’s third largest software services exporter Wipro rose 1.70% to Rs 440.85. It had slipped to 52-week low of Rs 425 earlier during the day.

Satyam Computers was down 0.31% to Rs 420, off day's low of Rs 401.50. Infosys Technologies gained 1.40% to Rs 1793, off session's low of Rs 1751.50. TCS gained 1.72% to Rs 1018 after touching 52-week low of Rs 978 earlier during the day.

Infosys Technologies ADR slipped 4.59% to $47.02 overnight on Nasdaq. Other IT ADRs also edged lower. Wipro (down 2.74% to $ 13.83), Patni Computer Systems (down 2.33% to $ 23.28), and Satyam Computers (down 3.70% to $24.76) declined.

The Indian rupee was trading almost unchanged 39.89, as compared to yesterday’s (20 September 2007), closing of 39.89/39.90. A rise in rupee impacts the margins of IT companies as they earn over 50% of revenues from exports

India’s top power generation company in terms of net profit, NTPC lost 2.49% to Rs 184.40 on 62.13 lakh shares. It was the top loser from Sensex pack.

ITC (down 2.20% to Rs 189.65), Hindalco (down 1.33% to Rs 159.95), and Cipla (down 0.89% to Rs 167.45), were the other losers from Sensex pack.

Reliance Natural Resources surged 34.68% to Rs 76.50 on huge volumes of 9.44 crore shares on reports that the company has applied for a license to undertake city gas distribution business in Delhi, Mumbai, Gurgaon and Noida. It hit an all time high of Rs 79.20 on BSE

Reliance group stocks were in spotlight on heavy buying demand. Reliance Petroleum (up 11.10% to Rs 154.25 on 2.88 crore shares), Reliance Capital (up 1.95% to Rs 1541.30 on 8.46 lakh shares), Reliance Industrial Infrastructure (up 10% to Rs 1043.10 on 60,354 shares), Reliance Communication (up 2.22% to Rs 579.05 on 20.43 lakh shares), Adlabs Films (up 9.18% to Rs 549) and IPCL (up 5.27% to Rs 454.60) surged.

Jindal Steel & Power jumped 9.66% to Rs 5371.20. Earlier some reports suggested that the company is planning to diversify into coal mining in overseas markets, coal and power trading and chartered air services.

Mercator Lines rose 1.84% to Rs 69.35 after it on 20 September 2007 acquired a 2006 built vessel (dredger). The company made this announcement after market hours on Thursday, 20 September 2007.

Ashapura Minechem gained 2.85% to Rs 438 after it fixed 19 October 2007 as record date for the purpose of issue of 1:1 bonus shares. The company made this announcement after market hours on Thursday, 20 September 2007.

ICRA rose 0.33% to Rs 1023 after it signed a memorandum of understanding with Dena Bank for rating the bank's loans.

United Breweries soared 9.32% to Rs 358.50 after it said its board will meet on 28 September 2007 to consider rights issue.

Punj Lloyd rose 2.12% to Rs 313 on recent reports that Pipavav Shipyard is raising $125 million private equity through pre-IPO deals.

Sun TV Network gained 0.45% to Rs 355. Earlier this month, Sun TV had acquired 48.9% stake in Red FM, promoted by NDTV. In return (on a swap ratio basis), the Red FM promoters had picked up 35% stake in South Asia FM, the subsidiary of the company.

Petron Engineering Construction jumped 19.10% to Rs 267.45 after its net profit jumped 97.4% to Rs 2.29 crore on 15.8% rise in sales to Rs 63.51 crore in Q1 June 2007 over Q1 June 2006.

Financial Technologies (India) rose 0.51% to Rs 2705.25 after it won regulatory approval to set up India's first national power exchange, The Indian Energy Exchange, an electronic bourse.

PTC India surged 6.94% to Rs 90.15 after it agreed to take on 26% stake in IEX and Tata Power Company, Reliance Energy and Rural Electrification Corp have also agreed to a stake in IEX. Adani Enterprises and IDEC will also take part in the consortium, the release added.

Tezpore Tea Company jumped 10% at Rs 42.60 after it said it had entered into a deal to sell its Merryview tea estate to Dalmia Tea Plantations & Industries for an undisclosed amount.

Meanwhile, foreign institutional investors' net inflow in the country crossed $10 billion so far in this year with an investment of $5.75 billion in the month of July 2007, highest ever in a month. FIIs made a net purchase worth about $10.5 billion in equity and debt markets since the beginning of 2007, topping the total net investment of $8.87 billion in the entire year 2006. Total FII inflow so far in the country is $61 billion. The number of FIIs registered with the market regulator has increased to 1,063 in July 2007 from 934 last year.

European markets, which opened after Indian markets, extended early gains. Key benchmark indices from United Kingdom (up 0.82% to 6,481.60), Germany (up 0.90% to 7,804.69), and France (up 0.40% to 5,711.25), advanced

Asian markets which opened before Indian markets, settled on mixed note today, 21 September 2007. Taiwan Weighted (up 1.36% at 9,105.28), Hang Seng (up 0.56% at 25,843.76), and South Korea's Seoul Composite (up 0.54% to 1,919.26), rose

Singapore's Straits Times (down 0.29% to 3,542.22) and Japan's Nikkei (down 0.62% or at 16,316.74), slipped

US stocks retreated yesterday, 20 September 2007 impacted by mixed earnings reports, a tumbling dollar and surging oil prices. The Dow Jones Industrial Average fell 48.86 points, or 0.35%, to 13,766.70. Broader stock indices also declined. The Standard & Poor's 500 index fell 10.28 points, or 0.67%, to 1,518.75, and the technology-dominated Nasdaq Composite index fell 12.19 points, or 0.46%, to 2,654.29.

Crude oil prices held near $82 a barrel on Friday, 21 September 2007 after hitting a record of $84.10 the previous day, 20 September 2007 as a tropical depression forced the shutdown of Gulf of Mexico output and sparked supply fears ahead of peak winter fuel demand. US crude for November delivery, the new front month, dipped 6 cents to $81.72 a barrel. London Brent November crude rose 3 cents to $79.12 per barrel.

Realty sector growth and goodreturn on investment

Realty sector has been buzzing on Dalal Street since yesterday on the back of Fed slashing interest rates by 50 bps and the news that Unitech will enter Nifty Fifty Index. The sector surged by nearly 15% in two days.

Today also real estate stocks were star performers despite the volatility one saw in the markets after yesterday’s huge gains.

BSE Realty Index, the real winner, jumped by nearly 8% in intra-day trade today and closed at 9,044.40, with 6.85% gain over yesterday’s close.

It gained by 13% from close of September 18 and gained by 15.12% as against today’s high and Sep 18 closing price.

Source

Sensex hits all-time high above 16,000

The market opened with a bang, with both the niche indices BSE Sensex and S&P CNX Nifty striking all time high in opening trade. While the BSE Sensex propelled above the 16,100 mark, the S&P CNX Nifty conquered all time high above 4,650

The rally was triggered by the US Federal Reserve announced a 50 basis points cut in fed funds rate to 4.75% from 5.25% on Tuesday, 18 September 2007. Asian markets rallied today, 19 September 2007, after the Fed decision.

At 10:21 IST, the 30-shares BSE Sensex was up 386.64 points or 2.47% to 16,055.76. It opened with a sharp 271.67 point upward gap at 15,940.79 and advanced further to hit an all time high of 16,116.73. It previous all time high was 15,868.85 hit on 24 July 2007.

The S&P CNX Nifty was up 114.80 points or 2.53% to 4,461. It struck an time high of 4,677.70

All the 30-members from Sensex pack advanced.

Bank and financial shares rose on the reckoning that the Fed move could put pressure on RBI to loosen its monetary policy. India’s top private sector mortgage lender in terms of revenue Housing Development Corporation (HDFC) surged 3.85% to Rs 2265. It was the top gainer from Sensex pack.

ICICI Bank (up 2.91% to Rs 952), HDFC Bank (up 3.90% to Rs 1278), and State Bank of India (up 3.65% to Rs 1755.15), edged higher

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) rose 2.33% to Rs 2106.35. It also struck an all time high of Rs 2120. As per recent reports, RIL is foraying in shipbuilding and dredging business with two separate companies. It plans to invest around $1 billion each in two companies and has begun talks with international majors for a strategic tie-up for the dredging business

Meanwhile, the Left-UPA Committee on the nuclear deal will meet for the third time today, 19 September 2007 amid a fresh warning from the CPI(M) against implementing the pact and to keep it on hold for at least six months.

Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong's Hang Seng (up 3.58% at 25,455.59), Japan's Nikkei (up 3.18% at 16,304.69), Singapore's Straits Times (up 3.07% at 3,584.55), South Korea's Seoul Composite (up 3.27% at 1,898.86) and Taiwan's Taiwan Weighted (up 1.16% at 9,003.36) surged.

Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.5%. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor's 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.

Crude oil climbed above $82 a barrel on Wednesday, 19 September 2007 near a record reached a day earlier after the US Federal Reserve slashed interest rates to calm worries over economic growth ahead of peak winter fuel demand. US light crude for October delivery rose 82 cents to $82.33 a barrel, after hitting a record of $82.38 yesterday, 18 September 2007. London Brent crude gained 72 cents to trade at $78.31 a barrel.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 23.38 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 232.93 crore on Tuesday, 18 September 2007

The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12, on Tuesday 18 September 2007. The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20, on that day.

Sensex gallops 651 points

The market soared to record closing with high turnover. It opened with a bang and kept on advancing during the course of the trading session as buying continued for index pivotals. Short covering might also have propelled the market higher to some extent. The total turnover on BSE crossed Rs 7,000 crore mark.

Shares from across sectors and market capitalisation participated in the rally. Sugar shares were star of the day’s trading session as they surged on frenzied buying after Agriculture Minister Sharad Pawar said the government plans to give more fiscal incentives to sugar mills.

The rally on the bourses today was triggered by the US Federal Reserve announcing a 50 basis points cut in fed funds rate to 4.75% from 5.25% on Tuesday, 18 September 2007, easing concerns about housing slump driving the world's largest economy into recession. Asian markets, which opened before Indian market, rallied today, 19 September 2007, after the Fed decision. All European indices which opened after Indian market were also trading with gains.

The 30-shares BSE Sensex surged 651.29 points or 4.16% to 16,320.41, as per provisional closing. It opened with a sharp 271.67 point upward gap at 15,940.79 and advanced further to hit an all-time high of 16,335.30. Its previous all-time high was 15,868.85 hit on 24 July 2007.

The S&P CNX Nifty jumped 188.80 points or 4.15% to 4,735. It struck an time high of 4,739.

As per provisional closing, the BSE Mid-Cap index rose 1.90% to 7,117.71 after hitting an all time high of 7,120.91. The BSE Small-Cap index hit an all time high of 8,943.23. It settled 1.04% higher to 8,872.11. But both these indices underperformed the Sensex

The total turnover on BSE crossed Rs 7,000 crore mark. It spiked in the last hour of trade. BSE clocked a turnover of Rs 7,405 crore as compared to Rs 5785 crore 14:30 IST.

Sugar shares were star of the day’s trading session as they surged on frenzied buying after Agriculture Minister Sharad Pawar said the government plans to give more fiscal incentives to sugar mills. All of them saw a phenomenal spurt in volumes.

Dwarikesh Sugar (up 20% to Rs 66.60), Sakthi Sugar (up 20% to Rs 92.70), Triveni Engineering (up 22.68% to Rs 135.50), Balrampur Chini Mills (up 24.31% to Rs 83.60), Shree Renuka Sugars (up 24.68% to Rs 686.10), and Bajaj Hindustan (up 21.76% to Rs 178.50) surged.

According to president of the Indian Sugar Mills Association, India plans to increase exports next year beginning 1 October 2007 and may ship as much as half of the sweetener in its raw form. As per reports, India may export 3.5 million to 4 million tonnes of sugar next year. The record crop this year prompted the government to more than double its reserves to 5 million tonnes, and subsidize exports to prevent a glut.

All the 30-members from Sensex pack advanced.

India’s largest listed cellular services provider by sales Bharti Airtel jumped 6.93% to Rs 890.20 on 2.91 lakh shares after its Sri Lankan unit signed a $150 million contract with China's Huawei Technologies Co to build and manage mobile infrastructure in the island nation over three years. It was the top gainer from Sensex pack.

Bank and financial shares rallied on the reckoning that the Fed move could put pressure on RBI to loosen its monetary policy. India’s top private sector mortgage lender in terms of revenue Housing Development Corporation (HDFC) surged 6.83% to Rs 2330. The stock eased form its all time high of Rs 2415 hit earlier during the day

HDFC Bank, the country’s second largest private sector bank in terms of net profit soared 6.83% to Rs 1314

State Bank of India, the country’s largest banking entity by net profit jumped 4.52% to Rs 1770. It topped the list of advance taxpayers, after it paid reportedly paid Rs 1,050 crore in the June-September quarter, which is nearly 50% more than the tax paid during the corresponding period last year.

India’s second largest bank by net profit, ICICI Bank jumped 4.44% to Rs 966.10. As per reports it paid Rs 450 crore advance tax for the June-September 2007 period. The bank had paid the same amount for the corresponding period last year.

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) surged 5.99% to Rs 2181.70 on 10.59 lakh shares. It struck an all time high of Rs 2185. As per reports its subsidiary - Reliance Logistics (RLL) is planning to set up logistics parks within all the upcoming special economic zones (SEZs). The Reliance logistics parks will cater to the entire range of logistic requirements of the SEZs. RIL has reportedly paid Rs 650 crore in the June-September 2007 quarter. The tax outgo during the June-September period last year was about Rs 450 crore.

Oil and Natural Gas Corporation, the country’s largest oil exploration company by revenue surged 5.89% to Rs 901 after its Chairman R.S. Sharma said the company may consider a bonus issue and a share split in the future. He did not give a time frame for bonus issue and stock-split.

Infosys Technologies, the nation’s second largest software services exporter rose 3.14% to Rs 1856.55 on rumors the firm is interested in acquiring UK-based Sage Group. Infosys has denied the reports further clarifying that it also isn't negotiating with Cap Gemini SA about buying any part of the company.

Maruti Suzuki India, the country’s top car-maker by sales vaulted 5.11% to Rs 920.50 on reports that company will set up an auto component park with Japan's Futuba Industrial Company. Maruti will hold a 49% stake in the joint venture. This will be Futuba’s first project outside Japan

India’s second largest bike maker Bajaj Auto rose 4.55% to Rs 2510. It has reportedly paid Rs 120 crore for the second quarter of the current fiscal. The company has paid Rs 102 crore as the first installment during the quarter ending June 2007.

India’s second largest cellular services provider by sales Reliance Comunications, rose 5.11% to Rs 564.75 after its subsidiary Flag Telecom reportedly signed a five-year agreement with UK-based Vanco to increase its presence across 81 countries worldwide.

DLF was the top traded counter on BSE with total turnover of Rs 255.19 crore followed by Reliance Industries (Rs 226.36 crore), ICICI Bank (Rs 226.36 crore), Reliance Capital (Rs 134.16 crore), and Shree Renuka Sugars (Rs 127.42 crore).

DLF galloped 8.91% to Rs 714.25 on reports that the company is getting into the retail of luxury brands and is in talks with some well-known retail chains, including Georgio Armani, Versace and Dolce Gabbana. DLF is in talks with 10-12 brands. Also another set of reports stated that DLF will tie up with a foreign major Carrefour for the supermarket business at a later stage.

The first batch of advance tax figures hint improved corporate earnings for the second quarter ended September 2007. Advance taxes are paid in four installments — in June, September, December and March. The June and September installments usually constitute about 15% and 25% respectively of the total advance tax payable in a fiscal.

European markets which opened after Indian market were trading with gains. Key benchmark indices from United Kingdom (up 2.11% to 6,416), Germany (up 1.87% to 7,717.70), and France (up 2.30% to 5,677.22), advanced.

Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong's Hang Seng (up 3.98% at 25,554.64), Japan's Nikkei (up 3.67% at 16,381.54), Singapore's Straits Times (up 3.65% at 3,596.36), South Korea's Seoul Composite (up 3.48% at 1,902.65) and Taiwan's Taiwan Weighted (up 0.30% at 8,926.50) surged.

Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.5%. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor's 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.

Crude oil climbed above $82 a barrel on Wednesday, 19 September 2007 near a record reached a day earlier after the US Federal Reserve slashed interest rates to caalm worries over economic growth ahead of peak winter fuel demand. US light crude for October delivery rose 82 cents to $82.33 a barrel, after hitting a record of $82.38 yesterday, 18 September 2007. London Brent crude gained 72 cents to trade at $78.31 a barrel.

Meanwhile, the Left-UPA Committee on the nuclear deal will meet for the third time today, 19 September 2007 amid a fresh warning from the CPI(M) against implementing the pact and to keep it on hold for at least six months.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 23.38 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 232.93 crore on Tuesday, 18 September 2007

The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12, on Tuesday 18 September 2007. The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20, on that day.

Sensex up almost 600 points

The market which opened with a bang, kept on advancing during the course of the trading session as buying continued for index pivotals. Short covering might also have propelled the market higher to some extent. The total turnover on BSE crossed Rs 5,500 crore mark. Shares from real estate pack surged on a view that interest rates have peaked for the time being.

The rally on the bourses today was triggered by the US Federal Reserve announcing a 50 basis points cut in fed funds rate to 4.75% from 5.25% on Tuesday, 18 September 2007, easing concerns about housing slump driving the world's largest economy into recession. Asian markets rallied today, 19 September 2007, after the Fed decision. All the European indices which opened after Indian market were also trading with gains.

At 14:35 IST, the 30-shares BSE Sensex was up 598.62 points or 3.81% to 16,267.74. It opened with a sharp 271.67 point upward gap at 15,940.79 and advanced further to hit an all-time high of 16,267.94. Its previous all-time high was 15,868.85 hit on 24 July 2007.

The S&P CNX Nifty was up 171.75 points or 3.77% to 4717.75. It struck an time high of 4718.35

The BSE Mid-Cap index rose 1.70% to 7,103.92 after hitting an all time high of 7,117.84. The BSE Small-Cap index also hit an all time high of 8,943.23. It was now up 1.27% to 8,892.58. Both these indices underperformed the Sensex

The total turnover on BSE crossed Rs 5,500 crore mark. It amounted to Rs 5785 crore by 14:30 IST as compared to Rs 4610 crore 13:30 IST.

Shares from real estate pack surged. BSE Realty index rose 5.48% or 438.34 points to 8,441.45. It also hit an all time high of 8,491.49.

DLF (up 8.04% to Rs 708), Indiabulls Real Estate (up 6.16% to Rs 521.50), Unitech ( up 3.41% to Rs 291.45), HDIL (up 4.44% to Rs 653.50) and Anant Raj Industries (up 1.14% to Rs 1435) surged.

All the 30-members from Sensex pack advanced.

Bank and financial shares rose on the reckoning that the Fed move could put pressure on RBI to loosen its monetary policy. India’s top private sector mortgage lender in terms of revenue Housing Development Corporation (HDFC) surged 8.21% to Rs 2360 on 1.91 lakh shares. It was the top gainer from Sensex pack. The stock also hit an all time high of Rs 2415

ICICI Bank (up 4.28% to Rs 964), HDFC Bank (up 7.40% to Rs 1321), and State Bank of India (up 4.43% to Rs 1768.40), edged higher

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) surged 4.69% to Rs 2155 on 8.11 lakh shares. It also struck an all time high of Rs 2159.85. As per reports its subsidiary - Reliance Logistics (RLL) is planning to set up logistics parks within all the upcoming special economic zones (SEZs). The Reliance logistics parks will cater to the entire range of logistic requirements of the SEZs.

DLF was the top traded counter on BSE with total turnover of Rs 205.85 crore followed by Reliance Industries (Rs 170.82crore), ICICI Bank (Rs 130.94crore), Reliance Capital (Rs 107.27 crore), and State Bank of India (Rs 94.11 crore).

Among side counters, Sakthi Sugars (up 20% to Rs 92.70), STC India (up 20% to Rs 286), Bhartiya International (up 20% to Rs 135.40), VBC Ferro Alloys (up 20% to Rs 155.55), and Dhampur Sugars (up 19.55% to Rs 64.50), surged

Haryana Capfin (down 8.13% to Rs 67.20), Magnum (down 7.11% to Rs 22.20), Bihar Tubes (down 6.95% to Rs 133.25), Nagreeka Exports (down 6.72% to Rs 37.50), and Jagson Airlines (down 5.93% to Rs 23), declined.

Nagarjuna Construction Company surged 8.45% to Rs 236.70 after the company in consortium with POSCO E & C of South Korea bagged an engineering, procurement and construction contract valued at Rs 1558 crore from Steel Authority of India (Sail) for IISCO steel plant at Burnpur, West Bengal.

The first batch of advance tax figures hint improved corporate earnings for the second quarter ended September 2007. Advance taxes are paid in four installments — in June, September, December and March. The June and September installments usually constitute about 15% and 25% respectively of the total advance tax payable in a fiscal.

European indices which opened after Indian market were trading with gains. Key benchmark indices from United Kingdom (up 2.18% to 6,420.80), Germany (up 1.81% to 7,712.42), and France (up 2.19% to 5,670.78), advanced

Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong's Hang Seng (up 3.84% at 25,521.85), Japan's Nikkei (up 3.67% at 16,381.54), Singapore's Straits Times (up 3.21% at 3,589.23), South Korea's Seoul Composite (up 3.48% at 1,902.65) and Taiwan's Taiwan Weighted (up 0.30% at 8,926.50) surged.

Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.5%. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor's 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.

Crude oil climbed above $82 a barrel on Wednesday, 19 September 2007 near a record reached a day earlier after the US Federal Reserve slashed interest rates to calm worries over economic growth ahead of peak winter fuel demand. US light crude for October delivery rose 82 cents to $82.33 a barrel, after hitting a record of $82.38 yesterday, 18 September 2007. London Brent crude gained 72 cents to trade at $78.31 a barrel.

Meanwhile, the Left-UPA Committee on the nuclear deal will meet for the third time today, 19 September 2007 amid a fresh warning from the CPI(M) against implementing the pact and to keep it on hold for at least six months.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 23.38 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 232.93 crore on Tuesday, 18 September 2007

The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12, on Tuesday 18 September 2007. The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20, on that day.

Firmness persists

The market firmed up further in early afternoon trade. The market had opened with a bang today, with both the niche indices BSE Sensex and S&P CNX Nifty striking all time high in opening trade.

The rally was triggered by the US Federal Reserve announcing a 50 basis points cut in fed funds rate to 4.75% from 5.25% on Tuesday, 18 September 2007. Asian markets rallied today, 19 September 2007, after the Fed decision.

At 12:30 IST, the 30-shares BSE Sensex was up 502.89 points or 3.21% to 16,172.01. It opened with a sharp 271.67 point upward gap at 15,940.79 and advanced further to hit an all time high of 16,193.80. It previous all time high was 15,868.85 hit on 24 July 2007.

The S&P CNX Nifty was up 154.75 points or 3.4% to 4,700.95. It struck an all time high of 4,701.95.

BSE Mid-Cap rose 1.52% or 101 points to 7091 and BSE Small-Cap rose 1.34% or 117 points to 8,898.

Among the sectoral indices BSE Realty index (up 4.23% to 8,341.27), BSE Bankex (up 3.9% to 8,614.22), BSE Auto index (up 3.43% to 5091.40), BSE Oil & Gas (up 3.32% to 8,708.67) were the major gainers.

BSE Bankex hit the all time high of 8,637.92, BSE Oil & Gas index hit an all time high of 8805.53 and BSE Capital Goods index hit an all time high of 14,156.82.

Market breadth was robust on BSE:1736 scrips advanced, 920 scrips declined and 76 scrips remained unchanged.

All the scrips advanced in the Sensex pack.

Among the Sensex pack ONGC (up 6.38% to Rs 905.10), Maruti Udyog (up 5.72% to Rs925.50), HDFC Bank (up 5.37% to Rs 1296), M&M (up 5.15% to Rs 745), HDFC (up 4.77% to Rs 2285) were the top five gainers.

Among the side counters State trading Corporation of India (up 20% to Rs 286), VBC Ferro Alloys (up 20% to Rs 155.55), Worldwide Leather Exports (up 20% to Rs 25.70), Anil Special Steel Industries (up 18.43% to Rs 33.10) were the top gainers in that order.

Bank and financial shares rose on the reckoning that the Fed move could put pressure on RBI to loosen its monetary policy. India’s top private sector mortgage lender in terms of revenue Housing Development Corporation (HDFC) surged 4.77% to Rs 2285.

ICICI Bank (up 3.9% to Rs 961.15), HDFC Bank (up 5.53% to Rs 1298), and State Bank of India (up 4.28% to Rs 1765.90), edged higher

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) rose 3.11% to Rs 2122.50. It also struck an all time high of Rs 2125. As per recent reports, RIL is foraying in shipbuilding and dredging business with two separate companies. It plans to invest around $1 billion each in two companies and has begun talks with international majors for a strategic tie-up for the dredging business

Meanwhile, the Left-UPA Committee on the nuclear deal will meet for the third time today, 19 September 2007 amid a fresh warning from the CPI(M) against implementing the pact and to keep it on hold for at least six months.

Reliance Communication rose 3.29% to Rs 555 after its subsidiary Flag Telecom signed a five-year resource sharing agreement with UK-based Vanco to increase its presence across 81 countries worldwide.

Infosys Technologies rose 3.39% to Rs 1861 on rumours the on rumours that it may launch a bid for UK-based Sage Group.

Bharti Airtel rose 3.8% to Rs 864.10 after its Sri Lankan unit signed a $150 million contract with China's Huawei Technologies Co to build and manage mobile infrastructure in the island nation over three years.

DLF galloped 5.69% to Rs 693.10 on reports that a group company in Singapore plans to raise about $2 billion and list as a real estate investment trust in Singapore.

Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong's Hang Seng (up 3.78% at 25,505.30), Japan's Nikkei (up 3.67% at 16,381.54), Singapore's Straits Times (up 3.07% at 3,594.08), South Korea's Seoul Composite (up 3.48% at 1,902.65) and Taiwan's Taiwan Weighted (up 0.3% at 8,926) surged.

Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.5%. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor's 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 23.38 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 232.93 crore on Tuesday, 18 September 2007.

The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12, on Tuesday 18 September 2007. The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20, on that day.