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Tuesday, November 22, 2011
Market seen halting eight-day slide on bargain hunting
Market is likely to open firm on Tuesday, 22 November 2011 on likely bargain hunting after posting losses in prior eight trading sessions. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a rise of 37 points at the opening bell. Global cues were mixed with Asian markets trading mixed today while US markets ended with steep losses on Monday.
Key benchmark indices skidded for the eighth straight day on Monday, 21 November 2011 to hit 6-1/2-week lows as European and US debt problems pulled world stocks lower. The BSE Sensex tumbled 425.41 points or 2.6% to settle at 15,946.10, its lowest closing level since 5 October 2011. The Sensex has lost 1,623.43 points or 9.24% in the past eight trading sessions from a high of 17,569.53 on 8 November 2011.
Downfall continues; Sensex tumbles 425 points at close
Weak global environment alongwith rupee falling to record low led to a severe fall in the Indian markets today. The Sensex slid 425 points and the Nifty fell 127 points
Major headlines
FY12 fiscal deficit to exceed 4.6% of GDP target: Montek
Infosys may miss upper end of FY12 $ revenue guidance
Jet Airways awarded 'Best Domestic Airline’
REC rises on buzz of tariff hike
RIL slips as oil min sanctions 'scrupulous' action
Bharti Airtel falls after CBI raid
Nifty December 2011 futures at premium
Turnover declines
Nifty November 2011 futures were at 4787, at a premium of 8.65 points compared to spot closing of 4778.35. Nifty December 2011 futures were at 4812.25, at a premium of 33.90 points over spot closing. Turnover on NSE's futures & options (F&O) segment declined to Rs 172938.68 crore from Rs 195058.74 crore on Friday, 18 November 2011.
State Bank of India (SBI) November 2011 futures were at 1670, same as spot closing of 1670.
Sensex, Nifty settle at 6-1/2-week lows on euro-zone, US debt woes
Key benchmark indices skidded for the eighth straight day to hit 6-1/2-week lows as European and US debt problems pulled world stocks lower. Data showing substantial selling by foreign funds recently hurt sentiment adversely. The barometer index, BSE Sensex, fell below the psychological 16,000 level. The BSE Sensex was down 425.41 points or 2.6%, off close to 350 points from the day's high and up close to 45 points from the day's low. The market breadth was weak. All the 13 sectoral indices on BSE were in the red.
The Sensex has lost 1,623.43 points or 9.24% in the past eight trading sessions from a high of 17,569.53 on 8 November 2011. The Sensex has lost 1,758.91 points or 9.93% this month so far. The Sensex has slumped 4,562.99 points or 22.24% in calendar 2011. From a 52-week high of 20,664.80 on 3 January 2011, the Sensex has lost 4,718.70 points or 22.83%. From a 52-week low of 15,745.43 on 4 October 2011, the Sensex has risen 200.67 points or 1.27%.
Monday, November 21, 2011
Daily News Roundup - Nov 21 2011
Maruti Suzuki India is planning to add more models with environment-friendly CNG option to its existing fleet of five such cars.(ET)
The Directorate General of Hydrocarbon has given a clean chit to Reliance Industries' capital expenditure of US$2.5bn spent up to 2007-08 in developing the KG-D6 gas fields because the CAG's audit has not quantified any loss to the exchequer.(ET)
Dr Reddy's Laboratories has requested the government to denotify its Special Economic Zone (SEZ) at Medak in Andhra Pradesh. (ET)
Sensex recovers to end modestly lower...Nifty holds 4900
There doesn't seem to be any respite from the ongoing pain in the equity markets across the globe as investors remain very nervous about the deteriorating fiscal conditions in the eurozone and dwindling fortunes for the Indian economy.
The Indian equity benchmarks slipped for a seventh straight trading session on Friday amid all-round selling. However, domestic stocks did recover in late trade with the NSE Nifty closing above 4,900. It had earlier dropped under the 4850 mark in the mid afternoon trades. The recovery was led by Oil & Gas and Pharma stocks. The BSE Sensex ended above the 16400 level.
Winter wonderland!
Every mile is two in winter. ~George Herbert.
The winter session of parliament starting on Tuesday could be an important sentiment driver for our markets. Thirty-one bills will come up for consideration and passage. A crucial Cabinet meeting to consider FDI in multi-brand retail will also be followed closely.
The opening is likely to be cold again due to weakness in the Asian markets. US markets closed flat on Friday while European indices finished mixed. The recent recovery that saw the Nifty test 5400 has fizzled out. If anything, it might re-test previous intermediate lows if FII outflows persist and global markets fail to recover.
Caution prevails; Markets may open in red
On the first day of the week, the markets head towards a negative start as escalating problems in Europe's debt crisis will continue to keep investors on their toes.
Headlines for the day:
Dr Reddy's Laboratories seeks denotification of SEZ at Medak.
Foreign funds infuse Rs2,500 crore this month.
FDI jumps 77% on M&A spree.
DLF moves Delhi HC against SEBI order to probe duping charges.
NMDC-Severstal steel plant likely by 2017
2G scam: CBI raids Airtel, Vodafone's office
Govt nudges LIC to buy 10% stake in Kingfisher
Copper gains on the last day of the week
But prices falter on a weekly basis
Red metal prices at Comex ended modestly higher on Friday, 18 November 2011. Prices rose as some investors viewed supportive moves in currency markets as an opportunity to buy after the previous day's slide to one-week lows.
Copper for December delivery ended higher by 2 cent (0.6%) at $3.4 a pound at Comex on Friday. For the week, copper shed 1.7%.
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