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Friday, September 09, 2011
Markets may see a flat start
The Indian markets are expected to open on a flat note owing to mixed global cues. Investors may trade on a cautious note
Headlines for the day:
Bharti gets 2G, 3G licence to operate in Rwanda
Ranbaxy Laboratories to roll out Lipitor Clone in US on November 30
Maruti to decide on Gujarat plant by October
Daily News Roundup - Sep 9 2011
Terming the labour problem at its Manesar plant as a "political issue", Maruti Suzuki India said it will not compromise on its established norms for industrial relations while attempting to resolve the disturbance. (ET)
Gitanjali Gems Ltd, values nine of its major brands at Rs55.84bn.(ET)
Wobbly at start!
Even after a bad harvest there must be sowing. - Lucius Seneca.
While the harvest festival is being celebrated in some parts of our country, political leaders around the globe are under pressure to sow some seeds to accelerate the ongoing recovery from the financial crisis.
US President Obama has proposed yet another stimulus to boost growth in a sluggish economy. The question is will his plans pass in the Congress? Even if some of them do, will they have the desired effect? Nobody has a clue right now.
Market may open flat to slightly lower
Firm Asian shares and higher US index futures may cap downside on the domestic bourses. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 12 points at the opening bell. Asian stocks rose on Friday, 9 September 2011, as Chinese consumer and producer price indexes showed inflation cooling in August 2011, though the results were slightly above forecast. US index futures rose on Friday, 9 September 2011, after US President Barack Obama proposed a cut in payroll taxes to jolt a US economy he described as a "national crisis." US is the world's biggest economy.
Markets extend rally for 3rd day
Rise in European stocks and recovery in RIL, ICICI Bank led the markets to close higher. The Sensex rose by 101 points and the Nifty surged by 29 points.
Major headlines
Food inflation at 9.55% versus 10.05%
CAG report on gas fields tabled, RIL violated contract
IT stocks strengthen on weak rupee
Reliance Communications secures order from HDFC Bank
BSE Bulk Deals to Watch - Sep 9 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
8/9/2011 524760 Arvind Intl-$ HARSHA MAYURBHAI SHETH S 52045 18.31
8/9/2011 511664 BGIL Films INDER PAL B 40000 6.40
8/9/2011 511664 BGIL Films ENAAM SECURITIES S 41100 6.46
8/9/2011 531364 CHOICE INF REENA KETAN SHAH B 50000 28.60
8/9/2011 531364 CHOICE INF HARSHAD RASIKLAL SHETH B 48897 28.60
8/9/2011 531364 CHOICE INF KALU RAM SHARMA B 100000 31.50
TD Power Systems attracts 7.34% premium
Settles at Rs 274.80 on BSE
Shares of TD Power Systems settled at Rs 274.80 on BSE, a premium of 7.34% over the initial public offer price of Rs 256. The stock debuted at Rs 251.60, a discount of 1.72% to the initial public offer (IPO) price. The stock hit a high of Rs 308.75 and low of Rs 242. On BSE, 1.16 crore shares were traded on the counter.
A seven-day 8.3% rally brings Sensex near 5-week closing high
Resumption of buying by foreign funds this month, gains in world stocks and good monsoon rains helped Indian shares extend recent strong gains. The BSE Sensex jumped 100.54 points or 0.59%, up close to 180 points from the day's low and off about 45 points from the day's high. Intraday volatility was high. The market breadth was strong. Index heavyweight Reliance Industries (RIL) rose more than 2.5%, reversing initial losses, after the firm said it has set a global benchmark for effective and efficient project completion and capital cost competitiveness in KG D6 gas production block under the most trying circumstances. Another index heavyweight ICICI Bank rose 2.5%.
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