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Tuesday, February 05, 2008
Monday, February 04, 2008
NSE Bulk Deal Watch - Feb 4 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
04-FEB-2008,ARIES,Aries Agro Limited,WF INDIA RECONNAISSANCE FUND LTD,BUY,150000,170.00,-
04-FEB-2008,BHARTISHIP,Bharati Shipyard Limited,SBI MUTUAL FUND,BUY,400000,625.00,-
04-FEB-2008,GTL,GTL Limited,INDEA CAPITAL PTE LTD-INDEA ABSOLUTE RETURN FUND,BUY,500000,260.00,-
04-FEB-2008,HORIZONBAT,HORIZON BATTERY TECH. LTD,RAJESH SHARMA ,BUY,300000,205.05,-
04-FEB-2008,KHAITANELE,Khaitan Electricals Ltd,ACCORD CAPITAL MARKETS LIMITED,BUY,100000,96.00,-
04-FEB-2008,KHANDSE,Khandwala Sec. Ltd,VICCO PRODUCTS BONBAY LTD.,BUY,59999,71.70,-
04-FEB-2008,MADHAV,Madhav Marbles and Granit,SHRIPAL SHARES AND SECURITIES LIMITED,BUY,46000,74.40,-
04-FEB-2008,RPGLS,Searle (India) Ltd,LOTUS GLOBAL INVESTMENTS LIMITED,BUY,110000,84.50,-
04-FEB-2008,ARIES,Aries Agro Limited,LAVINA A GOENKA,SELL,136711,170.01,-
04-FEB-2008,BHARTISHIP,Bharati Shipyard Limited,BLACKSTONE ASIA ADVISORS L L C A/C THE INDIA FUND INC,SELL,574500,625.14,-
04-FEB-2008,GOLDTELE,Goldstone Teleservices Lt,RJL INFRASTRUCTURE PVT LTD,SELL,255000,44.15,-
04-FEB-2008,HORIZONBAT,HORIZON BATTERY TECH. LTD,KROSSLINK INFRASTRUCTURE LIMITED,SELL,300000,205.05,-
04-FEB-2008,KHAITANELE,Khaitan Electricals Ltd,RACHNA VINIMAY PVT LTD,SELL,100000,96.00,-
04-FEB-2008,KHANDSE,Khandwala Sec. Ltd,SHREEPATI HOLDINGS AND FINANCE PVT. LTD.,SELL,60000,71.70,-
04-FEB-2008,MADHAV,Madhav Marbles and Granit,MEENAKSHI JATIA,SELL,76889,74.34,-
04-FEB-2008,RPGLS,Searle (India) Ltd,SANTOSH INDUSTRIES LTD,SELL,110000,84.50,-
BSE Bulk Deals to Watch - Feb 4 2008
Deal Date Scrip Code Scrip Name Client Name Deal Type * Quantity Price **
4/2/2008 531247 ALPHA HI-TEC MAGUNTA RAGHAV S 53461 3.81
4/2/2008 500029 AUTOLITE INE ACCORD CAPITAL MARKETS LTD B 150100 100.00
4/2/2008 500029 AUTOLITE INE MICRO MANAGEMENT LTD S 50000 100.00
4/2/2008 505506 AXON INFOTEC RUPAK DEVELOPERS PRIVATE LIMIT B 39919 54.00
4/2/2008 531591 BAMPSL SECUR JMP SECURITIES PVT. LTD. B 512260 1.99
4/2/2008 531591 BAMPSL SECUR PUNEET GARG S 660000 1.99
4/2/2008 512332 BIRLA CAP AYODHYAPATI INVESTMENT PVT LTD S 51150 13.05
4/2/2008 531671 BISLERI GUJ JMP SECURITIES PVT. LTD. S 336428 4.44
4/2/2008 531682 CAT TECHNOL SHASHIKANT SONU PAWAR B 264000 9.76
4/2/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN B 510353 10.01
4/2/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN S 508028 10.04
4/2/2008 532363 COMP-U-LEARN NARENDRA VELJI SHETHIA HUF B 63750 19.00
4/2/2008 526033 CRYSTAL SOFT RICHLINE FINVEST P LTD S 25300 8.64
4/2/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN B 730545 11.02
4/2/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN S 869664 11.10
4/2/2008 531750 ENCORE SOFT ALPESH A DOSHI B 44380 20.85
4/2/2008 531750 ENCORE SOFT HINGLAJ ENTERPRISE S 44380 20.85
4/2/2008 526560 ENGLISH I.CL VISHAL TANSUKHLAL MINDA S 23962 2018.75
4/2/2008 531486 FILMCIT MEDI JMP SECURITIES PVT. LTD. S 502378 1.97
4/2/2008 532439 GOLDSTN TELE RJL INFRASTRUCTURE PRIVATE LIMITED S 245000 44.15
4/2/2008 531913 GOPAL IRON PIYUSH M PARIKH B 44000 11.91
4/2/2008 517372 GUJ.INTRUX ZIELLE VENTURES PRIVATE L S 21059 43.31
4/2/2008 531025 INCA FINLEAS MAHARASHTRA OVERSEAS LIMITED B 17500 154.25
4/2/2008 517250 INTEGRA HIND PATHPIONEER MANG.SER.PVT.LTD B 5500 277.36
4/2/2008 530405 JINDAL CAP. JMP SECURITIES PVT. LTD. S 16181 47.17
4/2/2008 507870 LLOYD FINANC JMP SECURITIES PVT. LTD. S 201661 4.16
4/2/2008 501209 MAST MEDI SY BAKLIWAL FINANCIAL SERVICES INDIA PVT LTD B 23895 64.15
4/2/2008 508989 NAVNEET PUBLICATIONS (I) LTD. NOTZ STUCKI ET CIE S A AC ARUNA FUND B 3362000 125.15
4/2/2008 508989 NAVNEET PUBLICATIONS (I) LTD. RELIANCE CAPITAL TRUSTEE CO LTD AC REL LONG TERM EQ FUND S 3433650 125.01
4/2/2008 532086 OCEAN INFRST JMP SECURITIES PVT. LTD. S 50771 5.89
4/2/2008 521246 PARAS PETROF JMP SECURITIES PVT. LTD. S 1002281 2.63
4/2/2008 532606 PAREKH ALUM U P SHAH HUF B 90000 198.94
4/2/2008 532606 PAREKH ALUM KAMLESH M KANUNGO B 50000 192.00
4/2/2008 532606 PAREKH ALUM U P SHAH HUF S 90000 192.00
4/2/2008 505141 SCOOTERS IND GOVINDBHAI LALJIBHAI KAKADIA S 18984 25.50
4/2/2008 511754 SHALIBHA FIN REETA JAIN B 26400 13.11
4/2/2008 530155 TONIRA PHARM IPCA LABORATORIES LIMITED B 65000 27.02
4/2/2008 531703 TRIBHVAN HSG MAGNA VANIJYA LTD S 25500 28.20
4/2/2008 531703 TRIBHVAN HSG KAILASHPATI FOREST PVT LTD S 41500 28.20
4/2/2008 504605 UNIABEX AL P RAJIV ARORA S 11772 138.18
Market Close: good time! Will this hold?
It was a Good day of strength for Indian markets coupled with favorable cues from the global markets. Following to the Friday?s momentum Indian markets continued with a gap-up and the Sensex mount to gain more than 500+ points. Value buying was seen in sectors like Realty, IT, Capital goods and Metal space. Post opening indices traded extremely strong and stable, gripped to its gains for most of the day. But after mid session profit booking kept the indices down from high level. However the value buying at lows fueled the recovery and ended with a big gain for the day. Mid and Small caps were in focus and the indices ended with good gains of nearly 3% in line with the frontline indices. Oil Marketing Companies buzz the news that cabinet may hike fuel prices, as result of this stock rallied for the day. Asian indices closed in the green with a big gain from Shanghai (+8.13%), Hang Seng (+3.77%) and Nikkei (+2.69%) while the European markets witnessing a positive trade.
Alok Industries (Alok) quarterly numbers for December ended 2007 were in line with the expectations. Topline for the quarter grew by 15% yoy to Rs 551 Cr. Exports sales during the quarter grew by 62% to Rs 251 Cr from Rs 155 Cr during the corresponding quarter last year while sales were comparatively down. Ebidta margins witnessed healthy growth to 24.5%. Increase in export sales of value added products helped out the growth. Going forward margins are expected to grow after new capacities come on stream. Net profit margins grew marginally up by 120 bps for this quarter on YoY basis. The progress on the company's ongoing expansions under Phase-III and Phase - IV are progressing satisfactorily and are likely to be completed as per schedule. Alok is also hiking its holding in Mileta International by acquiring an additional 19.80% stake in Mileta International for 1.75 mn Euro thereby taking its stake in Mileta to 79.80%. Valuations are good for the textile company which is now restructuring itself and focusing more on each segment. Expect a detailed note on the numbers and re-structuring exercises done by the company very soon. Stock ended up by 14%.
Rcom today reported that it will come out with Tower business IPO Reliance Infratel, The issue will constitute 10.05% of the post-issue paid-up capital of Reliance Infratel. At least 30% of the issue shall be available for allocation on a proportionate basis to retail bidders. The company's business is to build, own and operate telecommunication towers and related assets at designated sites and to provide these passive telecommunication infrastructure assets on a shared basis to wireless service providers and other communications service providers under long-term contracts. These customers use the space on the company's telecommunication towers to install their active communication-related equipment to operate their wireless communications networks. The issue proceeds will be utilized to finance the development of passive infrastructure sites and for general corporate purposes. With the valuation on the towering business of new entity Rcom surged higher on the back of same news and ended higher by 14% for the day.
Technically Speaking: Market traded strong with positive market breadth and favorable external cues. Volume was relatively muted today at Rs 5743 Cr. The breadth was in favor of advances as there were 2325 advances against 635 Declines. Sensex seems headed towards our target of 19200. The immediate resistances are at 18850 and 19020. Supports at 18480 and 18230 levels.
Post Market Commentary - Feb 4 2008
The market galloped during the trading session to close with handsome gains on the back of heavy buying across the sectoral indices scrips. The market opened on a firm note taking the favoring cues from the global markets and march forward to gains further grounds during the session. But the market lost some of its gains after the mid session as the market was unable to sustain at higher levels due to selling pressures. The Mid Caps and Small Caps also joined the rally of the benchmark indices as they also faced most buying across the counters. Almost all the sectoral indices closed in green.The BSE Sensex closed higher by 417.74 points at 18,660.32 while NSE Nifty closed up by 146.25 points at 5,463.50. The BSE Mid Cap and Small Cap indices also closed higher by 243.37 points and 289.46 points at 8,004.91 and 10,361.78 respectively.
BSE Metal index closed higher by 528.03 points at 16,438.19. Scrips that grew are JSW Steel (10.95%), Sesa Goa (7.21%), Ispat Inds (6.25%), Bhushan Steel (3.75%), Sterlite Inds (3.98%) and Tata Steel (3.39%).
BSE Oil & Gas index grew by 270.51 points to close at 11,293.36. Gainers are BPCL (12.44%), Aban Offshore (8.31%), IOCL (6.51%), HPCL (5.41%), Cairn India (4.83%).
BSE Auto index closed up by 102.83 points at 5,107.70 as Ashok Leyland (6.89%), Hero Honda (6.21%), Escorts (5.69%), MRF (3.90%), Amtek auto (3.70%), M&M (3.24%) and Tata Motors (2.07%) closed in green.
BSE Bankex index advanced by 220.64 points to close at 11,110.91. Scrips that rallied are Oriental bank (9.13%), Union bank (8.56%), IOB (8.21%), Canara bank (7.95%), PNB (7.91%).
BSE Realty index increased by 644.13 points to close at 10,513.46. Scrips that surged are Purvankara (13.89%), DLF (8.54%), Sobha Dev (8.46%), Indbul Real (7.61%), HDIL (6.46%), Parsvnath (6.08%).
BSE IT index rose by 163.34 points to close at 4,097.61 as Rolta India (23.68%), Educomp Soln (14.45%), Mphasis (11.33%), Tech Mahindra (6.44%), Wipro (6.16%), I-Flex (5.60%) and TCS (5.03%).
Strong global cues trigger rally
All-round buying continued for the second straight session, with the Sensex gaining nearly 400 points during the intra-day trades on strong global cues. Riding on the back of firm Asian indices, the Sensex resumed 250 points higher at 18,496 and soon edged past 18,895 in the early trades. While the market remained buoyant above 18,400 levels for the most part, buying accelerated towards the close with gains in heavyweights, realty, technology, information technology (IT), and public sector unit (PSU) stocks lifting the index to an intra-day high of 18,895. The Sensex closed the session with gains of 418 points at 18,660, while the Nifty advanced 157 points at 5,463.
The breadth of the market was positive. Of the 2,844 stocks traded on the BSE, 2,270 stocks advanced, 536 stocks declined and 38 stocks ended unchanged. All the sectoral indices had a decent outing. The BSE Reality index led the pack and soared 6.53% at 10,513 followed by the BSE Teck (up 4.48% at 3,573), the BSE IT index (up 4.15% at 4,097), the BSE PSU index (up 3.36% at 8,658) and the BSE Metal index (up 3.32% at 16,538).
Among the heavyweights, Reliance Communications vaulted 11.96% at Rs685, DLF rose 8.54% at Rs883, Wipro scaled up 6.16% at Rs464, TCS jumped 5.03% at Rs976, NTPC moved up by 4.36% at Rs214.45, SBI advanced 3.93% at Rs2,271, Satyam flared up 3.85% at Rs437.25 and Ranbaxy spurted 3.75% at Rs373. However, HDFC Bank, Maruti, BHEL and Reliance Energy inched marginally lower.
Realty stocks notched up significant gains. Puravankara flared up 13.89% at Rs361.15, Sobha Developers spurted 8.46% at Rs810, Indiabulls Reality scaled up 7.61% at Rs678.60 and HDFC added 6.46% at Rs978. In the tech segment, Rolta surged 23.68% at Rs312.30, Reliance Communications jumped 11.96% at Rs685, Mphasis appreciated by 11.33% at Rs274.70 and Tata Teleservices advanced 9.67% at Rs38.55. TV18, Tech Mahindra, Wipro, Adlabs, I-Flex and TCS moved up by over 4-6% each.
Sensex vaults 418 points as Asian markets rally; Reliance Communications surges
The market surged for the second straight day in volatile trade on continued buying support in index pivotals. The market had soared in afternoon trade extending early gains as Asian stocks rose with sentiment boosted by Microsoft Corp's bid for Yahoo Inc and following China's buy of a large stake in takeover target Rio Tinto. However, it turned volatile in mid-afternoon trade and pared some gains as two index heavyweights Reliance Industries and ICICI Bank eased from day’s highs.
The market breadth was strong. 26 from the 30-member Sensex pack were in the green.
European markets, which opened after Indian markets, were trading slightly higher.
Reliance Power, which raised a record $3 billion in its initial share sale in January 2008, said on Friday, 1 February 2008, it had begun refunding excess application money to investors. The initial public offer had received bids for $190 billion.
The Finance Ministry on Friday, 1 February 2008 sought views from the public and other stakeholders on a set of measures proposed to strengthen the existing listing requirements. The Government now proposes to stipulate a public stake of 25% for a company to be listed and to continue to be listed on the stock exchanges.
The 30-share BSE Sensex rose 417.74 points or 2.29% at 18,660.32. It opened 253.45 points higher at 18,496.03 and surged to hit a high of 18,895.34 in afternoon trade. At day’s high it gained 652.76 points. It slipped to day’s low of 18,439.33 in mid-afternoon trade, when the Sensex was up 204.67 points for the day.
The broader CNX S&P Nifty was up 146.25 points or 2.75% at 5,463.50. Nifty February 2008 futures were at 5478, a premium of 14.50 points as compared to spot closing.
The BSE Mid-Cap index was up 3.14% to 8,004.91, while the BSE Small-Cap was up 2.88% at 10,362.37. Both these indices outperformed the Sensex
The market breadth was strong on BSE: 2264 shares advanced as compared to 551 that declined. 36 stocks remained unchanged.
The total turnover on BSE amounted to Rs 5743 crore as compared to Rs 5,578.94 crore on Friday, 1 February 2008
The total turnover on NSE’s futures & options segment amounted to Rs 40169.33 crore as compared to Rs 35830.69 crore on Friday, 1 February 2008
All sectoral indices on BSE settled higher. BSE Metal index (up 3.32% to 16,438.19), BSE IT index (up 4.15% at 4,097.61), BSE TecK index (up 4.48% to 3,573.55), BSE Oil & Gas index (up 2.45% at 11,293.36), BSE Power (up 2.58% to 3,890.57), BSE Realty index (up 6.53% at 10,513.46), BSE PSU index (up 3.36% to 8,658.29), outperformed the Sensex
BSE Auto (up 2.05% at 5,107.70), BSE FMCG index (up 0.87% at 2,244.44), BSE Consumer Durables index (up 0.67% to 5,155.67), BSE Health Care index (up 1.77% at 3,707.06), BSE Bankex (up 2.03% at 11,110.91), BSE Capital Goods index (up 2.21% at 16,797.31), underperformed the Sensex
India’s second largest listed telecom firm by sales Reliance Communications (RCom) galloped 13.01% to Rs 691.40 on 35.23 lakh shares. It was the top gainer from Sensex pack. Reliance Infratel, a subsidiary of RCom has filed its draft red herring prospectus for an initial public offer (IPO) with the Securities and Exchange Board of India (Sebi). The company will offer 8,91,64,100 shares of Rs 5 each for cash, constituting 10.05% of its post-issue paid-up equity capital.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries rose 2.22% to Rs 2598.20. 6.93 lakh shares changed hands on the counter on BSE. The stock moved in a range of Rs 2562 and Rs 2643 during the day.
ICICI Bank, the country’s largest private sector bank in terms of net profit slipped from day’s high of Rs 1245.20. It was up 1.11% to Rs 1211.
Among the mid-cap state run banks, Andhra Bank (up 4.57% to Rs 96.20), Bank of Baroda (up 3.76% to Rs 421), Bank of India (up 3.68% to Rs 377.60), Canara Bank (up 7.25% to Rs 317.20), Oriental Bank of Commerce (up 10.44% to Rs 273.50) and Vijaya Bank (up 4.61% to Rs 69.25), surged
DLF, the largest real estate developer in terms of market capitalisation advanced 9.89% to Rs 894. The stock will replace Glaxosmithkline Pharmaceuticals, in S&P CNX Nifty index from 14 March 2008.
Other shares from real estate sector, Unitech (up 5.77% to Rs 394.30), Sobha Developers (up 8.46% to Rs 810.10) and HDIL (up 7.42% to Rs 987), also logged gains
IT stocks extended Friday (1 February 2008)’s gains after Microsoft on Friday made a $45 billion bid for Yahoo Inc. Infosys Technologies (up 3.39% to Rs 1645), TCS (up 4.17% to Rs 968.10) and Satyam Computers (up 3.33% to Rs 435.05), gained.
India’s third largest software services exporter Wipro soared 6.11% to Rs 464 on reports the company plans to build electronic warfare systems, radars and flight simulators locally for US defence contractors.
Shares from mid-cap IT pack - i flex Solutions (up 6.56% to Rs 1135), Tech Mahindra (up 6.61% to Rs 799), Rolta India (up 25.95% to Rs 318), NIIT Technologies (up 3.10% to Rs 114.75), and Polaris Sofware Lab (up 5.25% to Rs 90.40), also joined the rally
Tata Motors, the country’s largest truck manufacturer in terms of sales, rose 2.10% to Rs 770.05. It reported a 11.76% fall in its passenger car sales in the domestic market during January 2008 at 20,119 units compared with 22,801 units in the same month a year ago.
Steel stocks were in action on reports of price hike. Tata Steel gained 3.93% to Rs 807, and Steel Authority of India (Sail) rose 2.26% to Rs 231. Tata Steel has increased the prices of hot rolled (HR) coils by Rs 2,000-2,500 per tonne, while Steel Authority of India Ltd (Sail) has hike prices by Rs 1,500-2,500 per tonne.
India’s largest oil exploration company in terms of market capitalisation Oil & Natural Gas Corporation (ONGC) saw high volatility today. It slipped sharply from day’s high of Rs 1121.90 to day’s low of Rs 1032. It settled 1.87% higher at Rs 1064. As per reports, British oil major British Gas is all set to pick up a 30% stake in ONGC’s Krishna Godawari basin block and 25% in Mahanadi basin block.
India’s top small car maker in terms of sales Maruti Suzuki India slipped 1.30% to Rs 893. It was the top loser from Sensex pack. The stock slipped from day’s high of Rs 924.90. The company has raised prices of many of its models by Rs 1,000 to Rs 11,000 per unit.
Reliance Energy (down 0.69% to Rs 2001), ITC (down 0.17% to Rs 2040.50), HDFC Bank (down 1.03% to Rs 1551.10), were the other losers from Sensex pack.
Future Capital Holdings was the most active counter on BSE with a turnover of Rs 533.35 crore followed by Reliance Communication (Rs 234.93 crore), Reliance Natural Resources (Rs 215.23 crore), Reliance Energy (Rs 202.15 crore) and Reliance Industries (Rs 180.93 crore) in that order.
Ispat Industries led the volume chart with trades of around 1.87 crore shares followed Reliance Natural Resources (1.49 crore shares), Tata Teleservices (Maharashtra) (97 lakh shares), Reliance Petroleum (92 lakh shares) and IFCI (85.50 lakh shares), in that order
Shares from sugar pack surged on momentum buying. Dwarikesh Sugar (up 5% to Rs 83.15), Sakthi Sugar (up 5.40% to Rs 79.10), Triveni Engineering (up 9.38% to Rs 140), Balrampur Chini Mills (up 12.51% to Rs 88.15), Shree Renuka Sugars (up 4.36% to Rs 930), and Bajaj Hindustan (up 9.37% to Rs 229.40) surged.
Shares of oil marketing companies gained on reports that Centre is likely to take a decision on increasing petrol and diesel prices today Monday, 4 February 2008. Hindustan Petroleum Corporation (up 5.39% to Rs 276.50), Bharat Petroleum Corporation (up 12.61% to Rs 433.20), and Indian Oil Corporation (up 6.83% to Rs 525.90), edged higher
Hero Honda Motors rose 4.47% to Rs 757. It reported 31.4% rise in net profit to Rs 275.01 crore on 3.5% growth in total income to Rs 2795.17 crore in Q3 December 2007 over Q3 December 2006. The results were announced after market hours on 31 January 2008.
EID Parry (India) rose 3.51% to Rs 182 after the company’s board decided to withdraw an offer to buyback shares. The company had earlier announced a plan to buy back up to 25% of its paid-up capital and free reserves at a maximum price of Rs 160 per share.
Ramsarup Industries gained 4.33% to Rs 199 after the company said it has increased prices of steel wires in range of Rs 3500 per metric tonnes to Rs 4000 per metric tonnes with immediate effect.
Walchandnagar Industries surged 4.79% to Rs 5725 on setting 3 March 2008 as record date for a 5-for-1 stock split and a 1:1 bonus issue.
McNally Bharat Engineering Company rose 5% to Rs 241.25 after it received an order worth Rs 198.44 crore from Uranium Corporation of India for Tummalapalle project in the state of Andhra Pradesh.
Puravankara Projects jumped 15.41% to Rs 366 on reports the company plans to raise Rs 2000 crore from private equity firm by selling 49% stake in five of its real estate projects.
Deep Industries gained 4.99% to Rs 157.90 after it signed memorandum of understanding with Indian Oil Corporation for exploring the possibility of joint development of two coal bed methane (CBM) blocks and three marginal gas fields and marketing of gas.
Prithvi Information Solutions spurted 7.26% to Rs 329.45 after the company received an order worth Rs 309 crore for supply of transmission equipment to state-run Bharat Sanchar Nigam.
Elecon Engineering Company advanced 9.50% to Rs 219 on bagging an order worth Rs 11 crore from Sichaon Electricity Power Design & Consulting Company, Chandrapur, Maharashtra for supplying wagon tipplers.
European markets, which opened after Indian markets, were trading slightly higher. Key benchmark indices in United Kingdom (up 0.01% to 6,029.60), Germany (up 1.04% to 7,041.80), and France (up 0.16% to 4,985.91), advanced
Asian markets, which opened before Indian markets were trading higher. Hong Kong's Hang Seng (up 3.77% to 25,032.08), Japan's Nikkei (up 2.69% to 13,859.70), Singapore's Straits Times (up 2.30% to 3,077.80), South Korea's Seoul Composite (up 3.40% to 1,690.13), and China’s Shanghai Composite (up 8.13% to 4,672.17), all edged higher
US stocks rose on Friday, 1 February 2008 capping Wall Street's best week in almost five years, after Microsoft Corp's $44.6 billion bid for Yahoo Inc overshadowed news that employers cut payrolls for the first time since 2003.
The Dow Jones industrial average finished up 92.83 points, or 0.73% to 12,743.19. The Standard & Poor's 500 Index gained 16.87 points, or 1.22%, to 1,395.42. The Nasdaq Composite Index shot up 23.50 points, or 0.98% to 2,413.36.
Chalco, a unit of China’s state-owned Chinalco teamed up with US aluminium producer Alcoa Inc to buy a $14 billion stake in Rio, threatening BHP Billiton’s efforts to acquire Rio.
George Soros - Investing Quotes
Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.
The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don't have much personal use for money. But I hate to think what would have happened if I hadn't made money: My ideas would not have gotten much play.
The prevailing wisdom is that markets are always right. I take the opposition position. I assume that markets are always wrong. Even if my assumption is occasionally wrong, I use it as a working hypothesis. It does not follow that one should always go against the prevailing trend. On the contrary, most of the time the trend prevails; only occasionally are the errors corrected. It is only on those occasions that one should go against the trend. This line of reasoning leads me to look for the flaw in every investment thesis. ... I am ahead of the curve. I watch out for telltale signs that a trend may be exhausted. Then I disengage from the herd and look for a different investment thesis. Or, if I think the trend has been carried to excess, I may probe going against it. Most of the time we are punished if we go against the trend. Only at an inflection point are we rewarded.
Trading Calls - Feb 4 2008
Nifty (5317) Supp 5200 Ress 5450
RCOM (611) SL 605
Target 625, 630
Hindalco (177) SL 173
Target 187, 190
HCL Tech (265) SL 260
Target 275, 278
Sell Birla Corp (218) SL 222 Target 209, 206
Sell Allahabad Bk (112) SL 116 Target 103, 101
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