Friday, August 27, 2010
It was a disappointing end to the week as markets collapsed in the latter half of the trading session to close deep in the red. Sensex lost 228 points to close at 17998 while Nifty finished at 5408, down 69 points. BSE Mid-cap and Small-cap indices lost 1% and 1.3% respectively. On weekly basis, Sensex and Nifty broke the 3-week winning streak by losing 2.2% each this week. BSE Realty index plunged 8.5% over the week, becoming the top loser among the sectoral indices, followed by Metal index, down 3.3%. Consumer Durable index was the sole gainer, up 1.4%. European markets, after initial dip, recovered sharply and were trading modestly higher. US stock indices futures were up about a third of a percent ahead of 2nd quarter GDP data.
al Date Scrip Code Company Client Name Deal Type * Quantity Price **
27/8/2010 526955 ABL Biotech R RAGHAVAN B 70000 19.76
27/8/2010 526955 ABL Biotech SILVER GOLDEN PROPERTY DEVELOP FIN INVESTMENT LIMITED S 131000 20.00
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
27-AUG-2010,AJANTPHARM,Ajanta Pharma Ltd,CNB FINWIZ PRIVATE LIMITED,BUY,106073,243.54,-
27-AUG-2010,AJANTPHARM,Ajanta Pharma Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,85757,246.41,-
Global risk appetite holds key for Indian stocks which have corrected after hitting fresh 2-1/2-year highs recently. Abundant global liquidity has ensured that inflows into Indian stocks rise whenever investors globally are in risk taking mode. Capital inflows help India fund its current account deficit.
The key benchmark indices edged lower in the week ended Friday, 27 August 2010, halting a three-week rising trend, on weak global cues. Markets across the globe were gripped under selling pressure on worries about the pace of the economic recovery in the US, the world's biggest economy. The Sensex declined in three out of the five trading days of the week. The BSE Sensex fell below the psychological 18,000 mark while the S&P CNX Nifty retraced from 31-month high. Shares of Prakash Steelage made a strong debut on Wednesday, 25 August 2010.
The key benchmark indices slumped on worries over the pace of the US economic recovery. US is the world's biggest economy. IT stocks fell after the Union Cabinet approved the new Direct Taxes Code bill wherein it proposed a hike in the rate of minimum alternate tax (MAT) on book profits to 20% from the prevailing 18%. Realty, metal and consumer durables stocks reversed initial gains. Banking stocks fell across the board. But, PSU OMCs rose. The market breadth was weak, in contrast with a strong breadth in mid-morning trade.
The market may edge lower as most Asian stocks fell ahead of a key economic data in the US. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could fall 9.50 points at the opening bell.
Tata Motors is looking at raising up to US$1bn to fund its various expansion programmes. (FE)
L&T plans to launch a bank to gain access to cheap funds and scale up its presence in infrastructure financing. (ET)