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Tuesday, April 19, 2011
Record high strings continue for precious metals
Both gold and silver witness record close for fourth straight day
Precious metals ended substantially higher on Monday, 18 April 2011 at Comex. It was fourth consecutive day of straight gains for the bullions. Prices rose on inflation concerns as investors sought to bullions as a safer investment option after Standard and Poor revised its outlook for U.S. debt to negative from stable, casting a pall over the finances of the world's largest economy. Gold also caught a tailwind from concerns about Finland and Greece.
Crude dips on demand worries
Prices drop as S&P cuts its outlook for U.S. debt to negative from stable
Demand concerns pushed down oil prices on Monday, 18 April 2011 at Nymex. Prices dropped after Standard and Poor revised its outlook for U.S. debt to negative from stable, casting a pall over the finances of the world's largest economy. Prices also dropped due to a strong dollar.
Market may extend losses as S&P lowers US credit outlook to negative
The market may extend last two days losses tracking weak Asian stocks triggered after rating agency Standard & Poor's lowered its U.S. credit outlook to negative. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 43 points at the opening bell.
Foreign institutional investors (FIIs) sold shares worth Rs 981.56 crore and domestic institutional investors (DIIs) bought shares worth Rs 661.47 crore on Monday, 18 April 2011, provisional data released by the stock exchanges showed.
Markets continue to fall; Sensex ends 296 pts lower
The Indian markets closed the session with heavy losses for the second day as technology shares continue to weigh
Major headlines
IFCI Q4 net profit dips 4%
Indusind Bank net profit soars 75% in Q4
HDFC Bank net profit up 33% in Q4
Monday, April 18, 2011
Grey Market Premium - Muthoot Finance
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Muthoot Finance | 160 to 175 | 26 to 27 |
| Paramount Print Packaging | 32 to 35 |
|
| Servalakshmi Paper Ltd. | 27 to 29 | -- |
Daily News Roundup - Apr 18 2011
Aditya Birla Chemicals buys Kanoria Chemicals’ Chloro Chemicals unit for Rs8.3bn. (BL)
Gas output from the Panna-Mukta and Tapti fields, owned jointly by the BG Group, Reliance and ONGC, has fallen by about 30%. (ET)
ONGC Videsh has signed definitive agreements with KazMunaiGas, the national oil company of Kazakhstan, for acquiring a 25% participating interest in the Satpayev exploration block. (BL)
Sensex sinks as Infosys, inflation disappoint
The BSE Sensex ended at 19,386 sliding 310 points. While, NSE Nifty fell by 96 points to close at 5,814.
The Indian market ended near day's low on Friday after IT bellwether Infosys' quarterly results came in below expectations. The stock plunged ~10% post its results. The BSE IT index was down over 6% as other software stocks also fell sharply. Realty was the other big loser.
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