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Wednesday, June 08, 2011
Sensex, Nifty near one-week closing highs
The key benchmark indices extended gains for the second straight day to attain their highest closing levels in nearly one week as index heavyweights Reliance Industries (RIL) and Infosys Technologies rose. Gains in European shares and US index futures underpinned sentiment. Realty stocks gained. Metal stocks rose as metal prices gained on London Metal Exchange on Monday. Capital goods stocks fell. The BSE Sensex was up 75.51 points or 0.41%, up close to 145 points from the day's low, off close to 50 points from the day's high. The market breadth was positive.
Tuesday, June 07, 2011
Monday, June 06, 2011
Grey Market Premiums - June 6 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 (Upper Price Band) | 2.50 to 3.50 |
| Timbor Home | 54 to 63 | 6 to 6.50 |
| VMS Industries | 36 to 40 | 2 to 2.50 |
Red metal overcomes initial weakness
Mixed economic data and weak dollar take prices higher
Red metal price overcame initial weakness and ended higher going into close at Comex on Friday, 03 June 2011. Prices remained volatile due to mixed set of economic data and weak dollar.
Copper for July delivery ended higher by 5 cents (1.2%) to end at $4.13 a pound at Comex on Friday. Earlier during the day, prices dropped following a weak job report from the Labor Department. For the week, the red metal lost 1.4%. Copper ended flat for the month of May.
Daily News Roundup - June 6 2011
Bharti Airtel and Trimax Infrastructure bagged a contract of over Rs1bn from the Government of Rajasthan to establish a state wide area network. (BL)
ONGC giving up rights on Rajasthan oilfields questioned by member of the Parliamentary Committee of Petroleum and Natural Gas. (BL)
Reliance Industries targets to be debt free by fiscal end. (BL)
Southern region is to be completely integrated with Power Grid in 3 years to form one of the largest synchronous interconnections in the world. (BL)
Rural Electrification plans to raise up to US$1.75bn through a combination of FCCBs and external commercial borrowings by November this year. (ET)
Problems aplenty!
Problems are the price you pay for progress. ~Branch Rickey
The turn of events at New Delhi with police action on yoga guru Baba Ramdev and his followers has turned the attention on the ruling party. Anna Hazare has now announced a hunger strike on Wednesday in protest against the same.
What the government does to get over this ‘corruption’ issue remains to be seen. Nothing can be expected in a hurry even though sporadic incidents of protest and to some extent violence may be seen.
Sensex may see a negative opening
Today’s start on the Dalal Street is expected to be in the red zone on the back of negative global markets. Uncertainty over global economic recovery is a concern
Headlines for the day:
Maruti workers-management talks to resume today
RIL may lose bellwether status
Hindustan Sanitaryware takes 60% in Garden Polymers
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