The 30-stock Sensex of the BSE resumed with gains of 300 points in early trades and touched an intra-day high of 10,945. However it could not hold on to the gains and drifted into the negative territory. The market appeared extremely bearish as the trading session progressed. Hectic selling in heavyweight, oil & gas, metal, realty and capital goods stocks in afternoon dragged the index to the day’s low of 10,052. The Sensex ended 511 points lower at 10,120, while Nifty lost 147 points to close at 2,995. (more…)

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Across-the-board selling on weakness in global markets leads the Sensex lose 398 points for the day.After yesterday’s loss, the market began the trading session on a weak note tracking mixed global cues.The Sensex opened with a negative gap of 487 points at 9,681 (more…)

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Selling pressure in most of the frontline counters saw the index dip for the fourth straight session. Nervousness gripped the market for the fourth consecutive session, as selling pressure since early trades saw the index remain weak all through the trading session. (more…)

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The Bombay Stock Exchange benchmark Sensex on wednesday regained the 15,000-level after nearly six weeks by extending its gains by more than 110 points on strong global cues amid easing crude prices. The BSE benchmark that moved up over 400 points in opening deals to 15,422 levels, trimmed its gains by close and ended at 15,073, up 112 points.

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Nifty ends above 4500; Realty, Banks up 6.5%, Auto

Markets witnessed sharp rally in second half of session and closed near days high. Strong value buying was seen in rate sensitives and infrastructure stocks .

Trading got off to a cautious start on the major Indian bourses this morning, and the morning session, notwithstanding some sharp gains recorded by a few front line and several midcap stocks, (more…)

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Sensex posts biggest ever point rise in a single day; soars 654 points
The market soared to record closing with high turnover. It opened with a bang and kept on advancing during the course of the trading session as buying continued for index pivotals. Short covering might also have propelled the market higher to some extent. The total turnover on BSE crossed Rs 7000 crore mark. While the BSE Sensex settled above 16,300, the S&P CNX Nifty closed above 4,700
Shares from across sectors and market capitalisation participated in the rally which was triggered after the US Federal Reserve announced a higher than expected 50 basis points cut in fed funds rate to 4.75% from 5.25% on Tuesday, 18 September 2007, easing concerns about housing slump driving the world’s largest economy into recession. Prior to this, it had hiked rates for 17 consecutive times in the span of four years.
Asian markets, which opened before Indian market, rallied today, 19 September 2007, after the Fed decision. All European markets which opened after Indian market were also trading with gains.
The 30-shares BSE Sensex surged 653.63 points or 4.17% at 16,322.75. This is the biggest single-day point gain in Sensex. It opened with a sharp 271.67 point upward gap at 15,940.79 and advanced further to hit an all-time high of 16,335.30. Its previous all-time high was 15,868.85 hit on 24 July 2007.
Sensex surged 2,333.64 points or 16.68% to 16,322.75 from a recent low of 13,989.11 on 21 August 2007, in just 21 trading sessions.
The S&P CNX Nifty up 186.15 points or 4.09% at 4,732.35. It also struck an time high of 4,739. The Nifty September 2007 futures settled at 4,747, a premium of 8 points as compared to spot closing
The BSE Mid-Cap index rose 1.88% to 7,116.61 after hitting an all time high of 7,120.91. The BSE Small-Cap index hit an all time high of 8,943.23. It settled 1.03% higher to 8,871.00. But both these indices underperformed the Sensex
The total turnover on BSE crossed Rs 7,000 crore mark. It amounted to Rs 7,405 crore as compared to Rs 5,618.94 crore on Tuesday, 18 September 2007.
The NSE F&O turnover was Rs 68,643.65 crore as compared to Rs 45,069.25 crore on Tuesday, 18 September 2007.
All the sectoral indices on BSE posted gains. Interest rate sensitive sectors like banking, real estate, auto dominated gainers.
BSE Bankex (up 4.84% at 8,691.45), BSE Realty index (up 5.77% to 8,464.54), BSE Oil and Gas Index (up 5% at 8,924.11), outperformed the Sensex.
BSE Auto Index (up 3.49% at 5,094.31), BSE PSU index (up 3.48% to 7,642.77), BSE FMCG Index (up 2.05% at 2,140.91), BSE Metal Index (up 3.82% at 12,546.34), BSE Capital Goods Index (up 1.80% at 14,112.99), The BSE Consumer Durables index (up 1.25% to 4,743.75), BSE Health Care Index (up 1.17% at 3,704.27), BSE IT Index (up 2.41% at 4,491.21), and BSE TecK index (up 3.42% to 3,619.93) were underperformers
All the 30-members from Sensex pack advanced.
India’s largest listed cellular services provider by sales Bharti Airtel jumped 6.93% to Rs 890.20 on 2.91 lakh shares after its Sri Lankan unit signed a $150 million contract with China’s Huawei Technologies Co to build and manage mobile infrastructure in the island nation over three years. It was the top gainer from Sensex pack.
Bank and financial shares rallied on the reckoning that the Fed move could put pressure on RBI to loosen its monetary policy. India’s top private sector mortgage lender in terms of revenue Housing Development Corporation (HDFC) surged 6.83% to Rs 2330. The stock eased form its all time high of Rs 2415 hit earlier during the day
HDFC Bank, the country’s second largest private sector bank in terms of net profit soared 6.83% to Rs 1314
State Bank of India, the country’s largest banking entity by net profit jumped 4.52% to Rs 1770. It topped the list of advance taxpayers, after it paid reportedly paid Rs 1,050 crore in the June-September quarter, which is nearly 50% more than the tax paid during the corresponding period last year.
India’s second largest bank by net profit, ICICI Bank jumped 4.44% to Rs 966.10. As per reports it paid Rs 450 crore advance tax for the June-September 2007 period. The bank had paid the same amount for the corresponding period last year.
India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) surged 5.99% to Rs 2181.70 on 10.59 lakh shares. It struck an all time high of Rs 2185. As per reports its subsidiary - Reliance Logistics (RLL) is planning to set up logistics parks within all the upcoming special economic zones (SEZs). The Reliance logistics parks will cater to the entire range of logistic requirements of the SEZs. RIL has reportedly paid Rs 650 crore in the June-September 2007 quarter. The tax outgo during the June-September period last year was about Rs 450 crore.
Oil and Natural Gas Corporation, the country’s largest oil exploration company by revenue surged 5.89% to Rs 901 after its Chairman R.S. Sharma said the company may consider a bonus issue and a share split in the future. He did not give a time frame for bonus issue and stock-split.
Infosys Technologies, the nation’s second largest software services exporter rose 3.14% to Rs 1856.55 on rumors the firm is interested in acquiring UK-based Sage Group. Infosys has denied the reports further clarifying that it also isn’t negotiating with Cap Gemini SA about buying any part of the company.
Maruti Suzuki India, the country’s top car-maker by sales vaulted 5.11% to Rs 920.50 on reports that company will set up an auto component park with Japan’s Futuba Industrial Company. Maruti will hold a 49% stake in the joint venture. This will be Futuba’s first project outside Japan
India’s second largest bike maker Bajaj Auto rose 4.55% to Rs 2510. It has reportedly paid Rs 120 crore for the second quarter of the current fiscal. The company has paid Rs 102 crore as the first installment during the quarter ending June 2007.
India’s second largest cellular services provider by sales Reliance Comunications, rose 5.11% to Rs 564.75 after its subsidiary Flag Telecom reportedly signed a five-year agreement with UK-based Vanco to increase its presence across 81 countries worldwide.
Sugar shares were star of the day’s trading session as they surged on frenzied buying after Agriculture Minister Sharad Pawar said the government plans to give more fiscal incentives to sugar mills. All of them saw a phenomenal spurt in volumes.
Dwarikesh Sugar (up 20% to Rs 66.60), Sakthi Sugar (up 20% to Rs 92.70), Triveni Engineering (up 22.68% to Rs 135.50), Balrampur Chini Mills (up 24.31% to Rs 83.60), Shree Renuka Sugars (up 24.68% to Rs 686.10), and Bajaj Hindustan (up 21.76% to Rs 178.50) surged. The government will detail the new financial incentives in 10 days, Pawar said today.
As per reports, sugar mills may be allowed to produce ethanol directly from cane juice, instead of molasses, to lower dependence on sugar prices. The South Asian nations may require oil refiners to double the ethanol level in gasoline to 10% from October 2008.
DLF was the top traded counter on BSE with total turnover of Rs 255.19 crore followed by Reliance Industries (Rs 226.36 crore), ICICI Bank (Rs 226.36 crore), Reliance Capital (Rs 134.16 crore), and Shree Renuka Sugars (Rs 127.42 crore).
Shares from real estate pack surged. Indiabulls Real Estate (up 6.60% to Rs 523.60), Unitech (up 3.91% to Rs 292.65), HDIL (up 2.92% to Rs 644) and Parsvnath Developers (up 5.75% to Rs 338.90) surged.
DLF galloped 8.91% to Rs 714.25 on reports that the company is getting into the retail of luxury brands and is in talks with some well-known retail chains, including Georgio Armani, Versace and Dolce Gabbana. DLF is in talks with 10-12 brands. Also another set of reports stated that DLF will tie up with a foreign major Carrefour for the supermarket business at a later stage.
Nagarjuna Construction Company surged 10.30% to Rs 240.70 after the company in consortium with POSCO E & C of South Korea bagged an engineering, procurement and construction contract valued at Rs 1558 crore from Steel Authority of India (Sail) for IISCO steel plant at Burnpur, West Bengal.
Jubilant Organosys surged 4.70% to Rs 305 after it signed a five-year multi million dollar contract with Switzerland based-Syngenta to supply chemical compounds used in manufacturing of medicines and agricultural products. The new contracts will start from early 2008.
Engineers India (EIL) jumped 6.82% to Rs 621.50. It soared 20% to Rs 582 yesterday 18 September on market talks that it is expected to bag a contract related to oil exploration. However the company denied such rumors.
The first batch of advance tax figures hint improved corporate earnings for the second quarter ended September 2007. Advance taxes are paid in four installments — in June, September, December and March. The June and September installments usually constitute about 15% and 25% respectively of the total advance tax payable in a fiscal.
European markets which opened after Indian market were trading with gains. Key benchmark indices from United Kingdom (up 2.20% to 6,621.70), Germany (up 2.10% to 7,734.35), and France (up 2.43% to 5,683.95), advanced.
Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong’s Hang Seng (up 3.98% at 25,554.64), Japan’s Nikkei (up 3.67% at 16,381.54), Singapore’s Straits Times (up 3.35% at 3,594.36), South Korea’s Seoul Composite (up 3.48% at 1,902.65) and Taiwan’s Taiwan Weighted (up 0.30% at 8,926.50) surged.
Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.5%. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor’s 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.
Crude oil climbed above $82 a barrel on Wednesday, 19 September 2007 near a record reached a day earlier after the US Federal Reserve slashed interest rates to calm worries over economic growth ahead of peak winter fuel demand. US light crude for October delivery rose 82 cents to $82.33 a barrel, after hitting a record of $82.38 yesterday, 18 September 2007. London Brent crude gained 72 cents to trade at $78.31 a barrel.
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The market surged in the second half of the trading session tracking recovery in European markets which started after Indian market. The market was range-bound in early afternoon trade. Asian markets were weak. With today’s gains, the market came out of its two-day losing streak.
US stock futures pointed slightly higher opening today, 18 September 2007, ahead of the two main events viz. interest-rate decision by the US Federal Reserve and third quarter earnings from investment bank Lehman Brothers post crisis in the subprime mortgage market and the credit crunch which was triggered last month.
The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12. It opened higher at 15,547.07 but later slipped to a low of 15,468.80 briefly. Sensex hit a high of 15,691.88 in late trade. It oscillated in a range of 223.08 points for the day.
The Sensex is 199.73 points away from its all time high of 15,868.85 hit on 24 July 2007.
The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20. The Nifty September 2007 futures settled at 4542, a discount of 4.20 points as compared to spot closing
The market breadth, indicating overall health of the market was strong on BSE, with 1794 shares advancing as compared to 958 that declined, while 55 remained unchanged.
The BSE Mid-Cap index rose 1.01% to 6,985.03 underperforming the Sensex while the BSE Small-Cap Index gained 1.63% to 8,780.89 outperforming the Sensex.
The total turnover on BSE amounted to Rs 5585 crore as compared to Rs 4688 crore on Monday, 17 September 2007
The NSE F&O turnover was Rs 45069.25 crore as compared to Rs 35768.53 crore on Monday, 17 September 2007
Among the 30-member Sensex pack, 21 gained while the rest slipped
Banking shares surged on renewed buying. India’s largest private sector bank in terms of net profit ICICI Bank advanced 3.04% to Rs 921.05 on 6.80 lakh shares. It was the top gainer from Sensex pack.
Other banking shares - State Bank of India (up 2.70% to Rs 1691), Bank of India (up 2.48% to Rs 249.80), Bank of Baroda (up 4.15% to Rs 295), Vijaya Bank (up 3.38% to Rs 61.10) and Andhra Bank (up 2.81% to Rs 93.30), also edged higher.
India’s largest listed cellular services provider by sales, Bharti Airtel advanced 2.34% to Rs 832.50. The stock gained after foreign brokerage house Citigroup recommended buy rating on the stock with a 12-month target price of Rs 1050.
India’s largest private sector power utility company in terms of sales, Reliance Energy (REL) hit all time high of Rs 933 in intra-day trade. It settled 1.97% higher at Rs 925.70. Yesterday, 17 September 2007 the stock gained 2.71% to Rs 906.60. As per recent reports, Supreme Court has allowed the company to bid for Rs 2,600 crore Mumbai sea link project.
ONGC (up 1.48% to Rs 848.10) and Mahindra & Mahindra (up 1.55% to Rs 709), were the other gainers from Sensex pack.
Bhel, the country’s largest power equipment maker in terms of sales rose 0.19% to Rs 1901, off its day’s high of Rs 1930. Bhel is reportedly looking at mergers and acquisition to fuel inorganic growth. Reports also suggest that the company is targeting a turnover of Rs 45,000 crore by 2012.
However pharma and software shares were subdued. Cipla, the country’s third largest pharma company in terms of net sales, slipped 2.04% to Rs 168.45 on 7.16 lakh shares. It was the top loser from Sensex pack.
India’s second largest pharma company in terms of net sales, Dr Reddy’s slipped 0.20% to Rs 641.
IT pivotals Wipro (down 1.20% to Rs 443.50), Satyam Computers (up 0.17% to Rs 421.50), and Infosys Technologies (down 0.03% to Rs 1805) edged lower.
India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) recovered sharply from day’s low of Rs 2007. It settled 1.21% higher at Rs 2053 on 8.65 lakh shares. As per recent reports, RIL is foraying in shipbuilding and dredging business with two separate companies. It plans to invest around $1 billion each in two companies and has begun talks with international majors for a strategic tie-up for the dredging business
Reliance Capital was the top traded counter on BSE with total turnover of Rs 223.96 crore followed by Reliance Industries (Rs 176.09 crore), Reliance Industrial Infrastructure (Rs 129.33 crore), Reliance Energy (Rs 128.83 crore) and Indowind Energy (Rs 120.22 crore).
Among side counters, Engineers India (up 20% to Rs 581.80), Zandu Pharmaceuticals (up 20% to Rs 4341.65) and Kew Industries (up 19.98% to Rs 34.85) surged
Linc Pen & Plastics (down 9.64% to Rs 45), Jindal Worldwide (down 7.95% to Rs 150), Andhra Sugars (down 7.75% to Rs 91.10), and Nagreeka Exports (down 6.71% to Rs 40.30), slipped.
Raymond galloped 20.01% to Rs 323.30 on huge volumes of 17.67 lakh shares, boosted by a block deal of 6.87 lakh shares struck on the counter at Rs 273 per share by 12:36 IST on BSE. The average daily volume in the stock in the past one year was 29414 shares
GAIL (India) rose 3.38% to Rs 323.75 on its plans to raise up to $1.72 billion from domestic and foreign markets to double its pipeline network by 2011.
Neyveli Lignite Corporation slipped 3.31% to Rs 96.25 after National Stock Exchange (NSE) banned fresh positions in the derivatives contracts as 95% marketwide position limit was crossed yesterday, 17 September 2007.
Indian Hotels Company gained 1.30% to Rs 131.30 on reports that it acquired a 10% stake in US-based Orient-Express Hotels for $211.28 million.
Puravankara Projects rose 4.45% to Rs 394.40 after it reported 43.59% surge in net profit to Rs 35.64 crore on 27.79% total income rise to Rs 120.4 crore in Q1 June 2007 over Q1 June 2006.
Jai Corp jumped 5% to Rs 8951.50 after it fixed 12 October 2007 as the record date for the purpose of stock split from existing face value Rs 10 per share to a face value of Re 1 per share and also for issue bonus shares in the ratio of 1:1.
PSL had gained 0.35% to Rs 353 after it bagged a $17 million contract from Fusion Provida, England for supplying 1,24,000 meters of 3 LPE coated line pipes.
State Trading Corporation of India surged 20% to Rs 238.35 after it said that a board meeting will be held on 26 September 2007 to recommend issue of bonus shares in a ratio of 1:1.
Indo Asian Fusegear surged 6.14% to Rs 121 on its plans to foray into power distribution business. It is setting up a new company Indo Asian Power Distribution and Infrastructure (IAPDIL) with an investment of Rs 25 crore.
Lanco Infratech jumped 4.79% to Rs 331.55 after it entered into a memorandum of understanding with Gulftainer Company, UAE to co-operate on a variety of port and transportation projects. Gulftainer Company is a leading port developer and operator in the Emirate of Sharjah in the United Arab Emirates.
McNally Bharat Engineering Company surged 5% to Rs 207.20 after the company received an order from NTPC for supply of dry fly ash extraction & collection system for its Rihand plant in Uttar Pradesh. The order is valued at Rs 13.80 crore.
KLG Systel soared 4.05% to Rs 527 after it bagged orders worth Rs 32.5 crore from the Government of Haryana and Rs 7.5 crore from Government of Rajasthan. With these new orders, the company has bagged projects worth a total of Rs 100 crore in the month of September 2007 so far.
Reliance Industrial Infrastructure galloped 8.60% to Rs 782 on expectations of orders from its parent Reliance Industries (RIL) to build gas pipelines and warehouses.
European markets recovered after weak opening. Key benchmark indices in France (up 0.25% to 5,453.24) and United Kingdom (up 0.31% to 6,202) advanced. Germany’s DAX index was down 0.16% to 7,468.25.
Asian markets settled lower today, 18 September 2007 hurt by concerns related to the health of the global credit markets, as well as nervousness ahead of the US Fed meet scheduled later in the day. Japan’s Nikkei (down 2.02% at 15,801.80), Hong Kong’s Hang Seng (down 0.09% at 24,576.85), and South Korea’s Seoul Composite (down 1.77% at 1,838.61) declined.
However Singapore’s Straits Times (up 0.04% at 3,477.75) and Shanghai Composite (up 0.07% to 5,425.20) edged higher
Dow Jones industrial average futures rose 29 points or 0.21% to 13,532. S&P 500 futures rose 2 points or 0.13% to 1,491.80, and Nasdaq 100 Index futures rose 3.50 points or 0.17% to 2,009.50.
Crude oil prices surged to a record high above $81 a barrel on Tuesday, 18 September 2007 drawing strength from concerns of a winter supply squeeze in the world’s top consumer where an anticipated interest rate cut is calming recession fears. US light crude for October delivery rose 56 cents to $81.13 a barrel after touching a high of $81.18 earlier in today’s session. London Brent crude for November rose 22 cents to $77.20 a barrel.

Tags: post market

The market today broke its two-day loosing streak to post good gains, led by steady buying support for index pivotals. Turnover was high. Stocks across sectors saw steady buying today. Asian markets were mixed while European markets were trading lower today, 13 September 2007.
The BSE 30-share Sensex gained 109.08 points or 0.70% at 15,614.44. It opened higher at 15,547.66 and advanced further to hit a high of 15,650.14.
The Sensex is 254.41 points away from all time high of 15,868.85 hit on 24 July 2007
The S&P CNX Nifty rose 32.10 points or 0.71% at 4,528.95. The Nifty September 2007 futures settled at 4,527, a marginal discount of 1.95 points as compared to spot closing
The market breadth was strong on BSE, with 1647 shares advancing as compared to 1123 that declined, while 66 remained unchanged.
The BSE Mid-Cap index rose 0.86% to 6,948.53, while the BSE Small-Cap index gained 0.77% to 8,638.20. Both these indices outperformed the Sensex by small margin
The BSE Mid-Cap index hit an all time high of 6,958.98, while the BSE Small-Cap index struck an all time high of 8,670.25 in intra-day trade today, 13 September 2007.
Turnover on BSE was above Rs 5,000 crore for the third day in a row. It amounted to Rs 5,257 crore as compared to Rs 5,391 crore on Wednesday, 12 September 2007.
The NSE’s F&O turnover was Rs 41,758.23 crore as compared to Rs 40,563.67 crore on Wednesday, 12 September 2007.
Most of the sectoral indices on BSE logged gains. BSE Bankex (up 1.28% at 8,081.94), BSE Auto Index (up 1.30% at 4,939.34), BSE PSU index (up 1% to 7,396.63), BSE Realty index (up 2.69% to 7,847.86) and BSE IT Index (up 0.87% at 4,482.57) outperformed the Sensex.
However, BSE Metal Index (up 0.05% at 11,924.63), BSE Oil and Gas Index (up 0.69% at 8,378.77), BSE Consumer Durables index (up 0.08% to 4,598.17), BSE FMCG Index (down 0.54% at 2,070.79), BSE Capital Goods Index (up 0.44% at 13,723.88), BSE TecK index (up 0.63% to 3,562.58) and BSE Health Care Index (up 0.25% at 3,693.88), were underperformers.
From 30-member Sensex pack, 20 gained while the rest slipped.
India’s top small car manufacturer in terms market share Maruti Suzuki India surged 3.73% to Rs 891.30 on 1.94 lakh shares. It was the top gainer from the Sensex pack.
Other auto shares also posted gains, on fresh buying. Tata Motors (up 1.29% to Rs 694.20), Mahindra & Mahindra (up 1.33% to Rs 707.95), and Bajaj Auto (up 1.06% to Rs 2418.10), gained.
State Bank of India (SBI), the nation’s largest bank in terms of net profit gained 3.25% to Rs 1677 on 6.31 lakh shares. As per reports, SBI plans to raise Rs 10,000 crore by December 2007.
India’s largest private sector company by market capitalisation and oil refiner Reliance Industries (RIL) struck an all time high of Rs 2034.40 in early trade. It settled 0.6% higher to Rs 2025 on 6.15 lakh shares. The stock edged higher after the empowered group of ministers (EGoM), approved RIL’s pricing formula for its gas from the Krishna-Godavari (KG) basin.
The revised formula lowers the proposed price of the gas at Kakinada to $4.20 per million British thermal unit (mmBtu) from $4.33 mmBtu that was proposed by RIL. The price at which RIL will sell its gas from the KG basin to consumers will be valid for five years, after which it will be open for revision.
Reliance Communications, the county’s second largest listed cellular services provider in terms of revenue gained 1.86% to Rs 552.15. As per reports, FLAG Telecom Group (FLAG) reportedly bagged a contract from CERN, the European Organisation for Nuclear Research, to provide Gigabit connectivity between the organisation’s research centre in Geneva and Tata Institute of Fundamental Research in Mumbai.
IT pivotals staged a comeback after their recent underperformance to the Sensex. Satyam Computers (up 1.27% to Rs 434.25), Infosys Technologies (up 0.71% to Rs 1833), Wipro (up 1.19% to Rs 458), and TCS (up 1.36% to Rs 1030), posted gains. The government on Wednesday, 12 September 2007 extended the date for corporates to submit Fringe Benefit Tax on employee stock option plans to 15 December 2007 in the absence of the method for determining the fair market value of such shares.
Second line IT stocks also surged. KPIT Cummins (up 17.51% to Rs 141.30), Aptech (up 5.40% to Rs 388.20), Hexaware Technologies (up 7.10% to Rs 131.20), Tech Mahindra (up 2.13% to Rs 1309), and MphasiS (up 3.96% to Rs 295), surged
Cement shares gained on fresh buying. ACC (up 2.55% to Rs 1130), Ambuja Cements (up 1.97% to Rs 144.60), and Grasim (up 2.52% to Rs 3285) edged higher from cement pack. Cement firms reported healthy dispatches in the month of August 2007
However, pharma pivotals saw some profit booking. Ranbaxy Laboratories (down 0.02% to Rs 417), Dr Reddy’s (down 0.44% to Rs 643.50) and Cipla (down 0.14% to Rs 175) declined.
India’s largest FMCG company by sales Hindustan Unilever was the top loser from the Sensex pack. It slipped 0.97% to Rs 215 on high volumes of 17.13 lakh shares. A block deal of 5.08 lakh shares was struck on the counter on BSE at Rs 216.05 per share by 14:38 IST. The stock recovered from its day’s low of Rs 212.70
Tata Steel (down 0.67% to Rs 706.50), and Reliance Energy (down 0.82% to Rs 887), were the other losers from Sensex pack.
Reliance Capital was the top traded counter on BSE with total turnover of Rs 177.56 crore followed by Reliance Industries (Rs 124.71 crore), IFCI (Rs 124.01 crore), MIC Electronics (Rs 115.17 crore) and Welspun Gujarat Stahl Rhoren (Rs 107.11 crore).
Real estate stocks advanced on fresh buying led by Unitech which surged 7.72% to Rs 285.55 on news it will replace Indian Petrochemicals Corporation in 50 share S&P CNX Nifty, with effect from 5 October 2007.
Other real estate shares, DLF (up 1.61% to Rs 645), Parsvnath Developers (up 0.72% to Rs 322), Orbit Corporation (up 2.57% to Rs 512.90), and Omaxe (up 4.10% to Rs 333.20), advanced.
Aftek surged 20% to Rs 73.60 after Seekport AG in which company’s unit holds 24.75% stake, was listed on Frankfurt Stock Exchange. Based on the bid price of 4.75 Euro per share, the total valuation of the company works out to Euro 475 million. Earlier, Arexera had acquired a stake in Seekport AG by transfer of technology.
Bombay Dyeing & Manufacturing Company gained 1.04% to Rs 642 on reports a few private equity firms are eyeing a minor stake in the company. Wadias, the founders of Bombay Dyeing, are looking to offload less than 15% of their share holding in the company, reports suggest.
Jindal Steel & Power soared 7.55% to Rs 4690. The company is expecting an approval from Bolivian government this week to go ahead with its El Mutun iron-ore project in the region, the company’s biggest-ever investment overseas.
Ajanta Pharma galloped 9.56% to Rs 110 after entering agreement with Prollenium Medical Technologies, Canada to market the latter’s dermal filler Revanesse in India.
Honda Motor Company gained 1.58% to Rs 665 on reports that Honda plans to launch various products to maintain market share of 60% in Indian two-wheeler maker.
Ipca Laboratories rose 1.12% to Rs 695.40 after it acquired 100% shareholding of a small formulation product dossier registration-cum-distribution company in Australia.
Welspun Gujarat Stahl Rohren vaulted 6.84% to Rs 267.05. With effect from 6 September 2007, Welspun Gujarat was included in the National Stock Exchanges’ derivatives segment.
Batliboi soared 10.25% to Rs 168.90 after the company fixed 4 October 2007 as the record date for the purpose of stock split from the present face value of Rs 10 to Rs 5 each.
Lupin advanced 2.39% to Rs 608 on reports the company had won a patent challenge against King Pharmaceuticals and Sanofi-Aventis over blood pressure drug Altace, in US.
West Coast Paper Mills declined 3.25% to Rs 454.30 after it went ex-dividend for a dividend of Rs 15 per share from today, 13 September 2007. It has face value of Rs 10 each.
Siemens India rose 0.29% to Rs 1270 after it acquired balance 26% equity stake in Siemens Industrial Turbomachinery Services, Bangalore (SITS) on 7 September 2007. With this acquisition, SITS has become its 100% subsidiary of Siemens. SITS specializes in the service, repair and overhaul of small gas turbines and rotating equipments.
Banco Products India surged 8.82% to Rs 151.20 after it scheduled a meeting of the board of directors to on 26 September 2007 to consider sub-division of the face value of the equity shares.
ABG Shipyard rose 3.48% to Rs 620 on the back of company’s plan to revive ailing Western India Shipyard. Western India Shipyard jumped 5% to Rs 18.90. ABG Shipyard’s board has considered and approved the company’s involvement in the proposal for revival and rehabilitation of Western India Shipyard (WISL) in terms of a scheme of compromise and arrangement between WISL and its secured lenders with ABG as a confirming party.
Gujarat Alkalies & Chemicals moved up 2.57% to Rs 143.60 on reports the company plans to spend Rs 500 crore for taking up new projects and adding power generation capacity.
Diamond Cables jumped 4.41% to Rs 362.20 after its unit received an order for supply of 2750 transformers. These orders will be executed by company’s wholly owned subsidiary Diamond Power Transformers (DPT) before 31 March 2008.
Suzlon Energy advanced 3.30% to Rs 1379 on its plans to invest about 1 billion euro ($1.4 billion) to nearly triple its production capacity by 2009. The expansion plan would raise Suzlon’s turbine production capacity in India from the present 2,700 megawatt (MW) to 5,700 MW by the close of fiscal March 2009, reports suggest.
Most of the European markets were trading lower. United Kingdom (down 0.03% to 6,304.50), France (down 0.19% to 5,497.55), and Germany (down 0.31% to 7,449.77), declined.
Asian markets were trading higher. Japan’s Nikkei (up 0.15% at 15,836.27), Hang Seng (up 0.93% at 24,537.07), Seoul Composite (up 1.90% to 1,848.02), and Shanghai Composite (up 1.95% to 5,273.92) gained.
However, Taiwan Weighted (down 1.01% at 8,927.42) and Straits Times (down 0.05% to 3,504.40) slipped
US shares settled slightly lower yesterday, 12 September 2007 with investors still confident the Federal Reserve will lower rates next week but treading cautiously as oil prices crossed $80 a barrel for the first time and the dollar extended its decline. The Dow Jones industrial average fell 16.74 points, or 0.13%, to 13,291.65, after weaving in and out of positive territory throughout the session. The Standard & Poor’s 500 index rose 0.07 point, or less than 0.01%, to 1,471.56, and the Nasdaq Composite index fell 5.40 points, or 0.21%, to 2,592.07.
India’s industrial output rose 7.1% in July 2007 from a year earlier, sharply lower than downwardly revised annual growth of 9% in June 2007 due to slower manufacturing output, data showed on Wednesday, 12 September 2007. Manufacturing production rose 7.2% in July 2007 from a year earlier, compared with provisional annual growth of 10.6% in June 2007.
Crude oil prices dipped on Thursday, 13 September 2007, but held near $80 a barrel and the previous day’s record high, as dealers watched a tropical storm in the Gulf of Mexico after a sharp fall in U.S. crude stocks. US crude was trading 23 cents lower at $79.68 a barrel, after hitting a record high of $80.18 yesterday, 12 September 2007. London Brent crude shed 9 cents to $77.59 a barrel.

Tags: post market, sensex

The market scaled higher level as buying continued throughout the day, except for the odd blip in early trade. Asian markets rebounded from initial sluggishness while European stocks were trading mixed.
The BSE 30-share Sensex rose 170.16 points or 1.10% at 15,616.31. It opened lower at 15,383.13 and slipped further to hit a low of 15,350.18 at the onset of the trading session due to the overnight fall in the US stocks caused by weak US housing data.
However, it bounced sharply from that level to hit a high of 15,637.74. At the day’s low of 15,350.18, the Sensex had lost 95.97 points for the day.
Sensex is now just 252.54 points away from its all time high of 15,868.85 hit on 24 July 2007.
The S&P CNX Nifty was up 42.75 points or 0.96% at 4,518.60. The Nifty September 2007 futures settled at 4507, a discount of 11.60 points as compared to spot closing
The market breadth was strong on BSE, with 1,698 shares advancing as compared to 1,050 that declined, while 74 remained unchanged.
The total turnover on BSE amounted to Rs 4646 crore as compared to Rs 5,167.23 crore on Wednesday, 5 September 2007. The NSE F&O turnover was Rs 40927.51 crore as compared to Rs 42642.91 crore on Wednesday, 5 September 2007.
The BSE Mid-Cap Index rose 1.11% to 6,848.68 while the BSE Small-Cap Index gained 1.28% to 8,395.58. Both these indices outperformed the Sensex by small margin
All the sectoral indices on BSE settled higher. BSE Consumer Durables index (up 1.09% to 4,497.19), BSE FMCG Index (up 1.54% at 2,032.09), BSE PSU index (up 1.22% to 7,287.77), BSE Oil and Gas Index (up 1.11% at 8,231.83), BSE Auto Index (up 1.24% at 4,937.54) and BSE Bankex (up 1.15% at 8,110.85), outperformed the Sensex.
However, BSE Realty index (up 0.37% to 7,547.65), BSE IT Index (up 0.41% at 4,665.46), BSE Metal Index (up 0.76% at 11,687.04), BSE TecK index (up 0.32% to 3,647.37), BSE Health Care Index (up 0.50% at 3,717.03), BSE Capital Goods Index (up 0.68% at 13,658.66 ) were underperformers.
From the 30-member Sensex pack, 27 advanced while the rest declined.
India’s largest private sector power utility company by sales Reliance Energy advanced 4.91% to Rs 863.80 on 14.75 lakh shares. The stock surged to an all time high of Rs 864.70. As per reports the firm is planning to hive off its engineering, procurement and construction division into a new company. It was the top gainer from the Sensex pack.
Cement stocks held on to gains after opening firm on healthy dispatches in August 2007. The AV Birla group diversified company Grasim vaulted 4.25% to Rs 3186. It hit an all time high of Rs 3195
Other cement companies ACC (up 1.72% to Rs 1101), Ambuja Cement (up 1.56% to Rs 140), India Cements (up 4.31% to Rs 274.60), UltraTech Cement Company (up 1.68% to Rs 998), and Birla Corporation (up 3.55% to Rs 317.95) also edged higher.
HDFC (up 3.79% to Rs 2131), and ITC (up 3.15% to Rs 176.50), were the other gainers from the Sensex pack.
Ranbaxy Laboratories, India’s top drug maker by sales, climbed 3.76% to Rs 415, on a newspaper report that the drug maker had submitted an initial bid for US-based Bradley Pharmaceuticals Inc
However Dr. Reddy’s Laboratories, India’s only drug maker listed in the US, was down 0.05% to Rs 661.95. The company has received approval from the US Food and Drug Administration for ulcer drug ranitidine hydrochloride tablets.
State Bank of India (SBI), the nation’s largest banking entity by net profit advanced 2.60% to Rs 1635.90. As per reports, it will raise about Rs 1,500 crore through a bond issue this week. The issue will be part of SBI’s Tier II capital and the size of core issue likely to be set at Rs 1,000 crore with over subscription option of Rs 500 crore.
Auto shares also rose on renewed buying. Tata Motors, India’s top auto firm by revenue, rose 2.06% to Rs 712.60. Hero Honda Motors (up 2.72% to Rs 652), Bajaj Auto (up 1.44% to Rs 2340) and Maruti Udyog (up 0.57% to Rs 878) were the other gainers from auto pack.
Mahindra & Mahindra, the country’s top utility vehicle manufacturer by sales edged higher by 1.84% to Rs 723 boosted by reports that it is looking to buy a design firm in Italy as part of its plans to expand presence in the automotive space.
India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries rose 1.51% to Rs 1987 on 5.05 lakh shares. It recovered from day’s low of Rs 1948. RIL has completed acquisition of Indian Petrochemicals Corporation (IPCL), a move that could help it control two-thirds of the country’s petrochemical market.
India’s largest FMCG firm by sales Hindustan Unilever (HUL) rose 1.91% to Rs 216.50. As per reports, HUL will end a seven-week lockout on Monday, 10 September 2007, at one of its factories at Assam after a dispute with workers was resolved. The factory makes almost a third of the company’s personal care products.
IT pivotals rose on late buying. Wipro (up 1.21% to Rs 478.50), TCS (up 0.35% to Rs 1075), Satyam Computers (up 0.78% to Rs 452) and Infosys (up 0.32% to Rs 1903) edged higher.
India’s largest aluminium producer by sales Hindalco Industries was the top loser from the Sensex pack. It lost 1.37% to Rs 154.80 on 9.90 lakh shares.
India’s largest listed cellular services provider in terms of profit, Bharti Airtel slipped 0.28% to Rs 846.60. As per recent reports, in the Karnataka circle, Bharti Airtel cannot acquire any operator as it already has a 39.7% market share. The 40% market share cap suggested by the
IVRCL Infrastructures (Rs 132.64 crore), Reliance Energy (Rs 124.95 crore), State Bank of India (Rs 104.89 crore), Indiabulls Financial Services (Rs 103.93 crore) and GMR Infrastructures (Rs 102.34 crore) were among the turnover toppers on BSE.
A lot of action was seen in 14 stocks that were included in the futures & options segment of NSE effective today, 6 September 2007.
3i Infotech (up 0.34% to Rs 149), Aptech (up 5.99% to Rs 338.10), Bhushan Steel (up 1.13% to Rs 948.70), Biocon (up 0.87% to Rs 471.05), CMC (up 3.06% to Rs 1156.95), Lakshmi Machine Works (up 9.56% to Rs 3205), NIIT Technologies (up 6.62% to Rs 365), Nucleus Software (up 0.63% to Rs 373), Sasken Communications (up 1.21% to Rs 382), Tech Mahindra (up 3.31% to Rs 1329), and Yes Bank (up 3.43% to Rs 189.90) surged.
But Welspun Gujarat Stahl Rhoren (down 5.77% to Rs 241), Tulip IT Services (down 0.75% to Rs 921.10), and Havells India (down 1.56% to Rs 512.10) edged lower.
Textile and apparel company Raymond was down 0.62% to Rs 273.10. It has reportedly entered the Rs 800-crore premium women’s western-wear market with the launch of ColorPlus Women. Raymond will open 175 stores in the next three years to retail the range of ColorPlus apparel.
Punj Lloyd rose 1.63% to Rs 296. As per reports, the firm is planning a foray into defence equipment. It proposes to produce guns, rockets, missile artillery systems and related defence equipment and has applied for an industrial licence to make these products. The licensing committee of the ministry of commerce is expected to take a decision on this soon.
Color Chips (India) slumped 3.12% to Rs 7.77 after the National Stock Exchange said it had decided to suspend trading in the stock for non-compliance of provisions of listing agreement. The stock will be suspended from NSE after trading hours on 12 September 2007.
Saregama India jumped 10% to Rs 302.60. Sonata Investments acquired 10.58 lakh shares of the company at Rs 260 per share in a block deal on Tuesday, 4 September 2007, on BSE. The stock has risen 21% in the past two trading sessions.
Kernex Microsystem (India) gained 5% to Rs 359.40 on recent rumors that it may bag a six-year long railways contract worth Rs 2,000 crore in joint venture with Konkan Railways.
MSK Projects (India) rose 1.77% to Rs 100.40 after it received order worth of Rs 76.45 crore from Madhya Pradesh Road Development Corporation for execution of the Khandwa-Khargone (SH-26) road project.
Punjab Chemicals and Crop Protection soared 7.24% to Rs 155.50 on reports the firm is eyeing a 30% stake in US-based PSD Chemicals, a privately-held firm in the US. Reportedly, the total deal size could be around Rs 100 crore.
Gujarat Industries Power Company spurted 9.22% to Rs 7.40. Recently, its board approved expansion of its lignite-fired power generating capacity at an investment of Rs 1300 crore by installing two units of 250 mega watts each.
iGate Global Solutions flared up 6.16% to Rs 145.70. Yesterday (5 September 2007), Reliance Long Term Equity Fund bought 6.51 lakh shares of the company via two bulk deals on the BSE.
Hindoostan Spinning & Weaving Mills jumped 5% at Rs 56.10. It has spurted recently on reports that the firm has sold 8 acres of its defunct mill located near the Siddhivinayak temple at Prabhadevi, Mumbai, for Rs 350 crore to Mumbai-based builder Akruti Nirman.
Networth Stock Broking jumped 5% to Rs 99.80. The stock had risen 5% yesterday, 5 September 2007, on rumors that Hinduja Group is buying a majority stake in the company. The company clarified after market on that day, that that the company has been considering & contemplating proposal from investors. However no firm decision has been taken by it, neither has any arrangement was finalized.
Hindustan Dorr Oliver rose 2.22% to Rs 131 bagged a contract of Rs 77 crore from National Aluminium Company (Nalco)
Sical Logistics gained 4.86% to Rs 257 after Old Lane Mauritius IV invested Rs 107 crore for a 26% stake in the company’s new unit, Sical Infra Assets.
Escorts dropped 1.61% to Rs 103.85 after the National Stock Exchange said after trading hours on Wednesday, 5 September 2007, it had barred fresh positions in the company’s derivatives contracts as the open interest had crossed the 95% limit
Drug maker Abbott India was up 0.78% to Rs 575. The stock came off the session’s high of Rs 585. It said after trading hours on Wednesday, 5 September 2007, its board had approved buying back shares worth Rs 51.84 crore, at a price not exceeding Rs 650 per share.
KS Oils surged 5.51%to Rs 71.75 after it said during trading hours on Thursday, 6 September 2007, it plans to form a joint venture in Malaysia to invest in palm plantations. The company will hold 49% in the joint venture.
Hindustan Zinc rose 2.96% to Rs 724.10 even it cut zinc prices by 3.7% to Rs 139200 per tonne, with ieffect from 6 September 2007. The company said lead prices were reduced by 6% to Rs 139100 a tonne.
Business directory publisher Infomedia India gained 5% to Rs 256.45 on a newspaper report that said a clutch of private equity firms were vying for ICICI Venture’s 63% stake in it.
The European Central Bank kept interest rates unchanged at 4% in a meeting held today, 6 September 2007.
There are hopes that the US Federal Reserve will cut the fed funds rate by at least a quarter percentage point on 18 September 2007.
European markets, which opened after the Indian markets, were trading mixed today. Among key European indices, United Kingdom (down 0.11% to 6,253.50) and France (down 0.23% to 5,538.53) slipped while Germany’s DAX rose 0.34% to 7,613.93.
Asian markets rebounded from lower levels today, 6 September 2007. Japan’s Nikkei (up 0.61% at 16,257), Taiwan’s Taiwan Weighted (up 1.16% at 9,017.08), South Korea’s Seoul Composite (up 1.24% at 1,888.81) and Shanghai Composite (up 1.56% at 5,393.56) rose.
Hang Seng index was down marginally by 0.08% at 24,050.40
US markets finished lower yesterday, 5 September 2007, after weak US housing data revived concerns about the health of the world’s biggest economy. The Dow Jones Industrial Average slipped 143.39 points, or 1.07%, at 13,305.47. Broader stock indicators also lost ground. The
Standard & Poor’s 500 index fell 17.13 points, or 1.15%, to 1,472.29, and the Nasdaq Composite index fell 24.29 points, or 0.92%, to 2,605.95.
Crude oil prices rose to $76 a barrel on Thursday, 6 September 2007 buoyed by expectations that US crude and gasoline inventories fell last week. US crude rose 33 cents to $76.06 a barrel while London Brent crude was up 21 cents at $74.55 a barrel.
The National Stock Exchange said on Thursday, 6 September 2007, it will extend trading timing by 45 minutes from 25 September 2007 to 9 October 2007 due to loss of satellite connectivity during this period. Trading will close at 11:25 IST and re-open at 12:10 IST. The final closing will be at 16:15 IST, instead of 15:30 IST.

Tags: post market, sensex

Domestic stock markets snapped their eight-day winning streak today, 5 September 2007, as profit booking emerged at higher levels in late trade. The market saw volatile movements towards the later half of the day, in sync with Asian and European markets, which also swung in and out of positive zone. Buying was seen in software, sugar and realty stocks. Selling was witnessed in capital goods and oil & gas stocks.
The BSE 30-share Sensex declined 19.25 points or 0.12% at 15,446.15. It opened higher at 15,535.35 and advanced further to hit a high of 15,580.86. It hit a low of 15,407. Sensex oscillated in a range of 173.86 points for the day.
The Sensex had surged 1,301 points, or 9.18%, in eight trading sessions, from 14,163.98 on 23 August 2007 to 15,465.40 on 4 September 2007. A fall in inflation and robust economic data along with steady inflow of FIIs helped the market rally in the recent past.
The S&P CNX Nifty slipped 3.40 points or 0.08% at 4,475.85. The Nifty September 2007 futures settled at 4416.15, a sharp discount of 59.70 points as compared to spot closing
The market breadth which was strong throughout the day, eased in late-afternoon session. On BSE; 1,403 shares advanced as compared to 1,331 that declined, while 65 remained unchanged. This is in contrast to morning session, when 1253 shares advanced, 324 declined and 29 were unchanged.
The BSE Mid-Cap Index rose 0.11% to 6,773.34 while the BSE Small-Cap Index gained 0.23% to 8,289.81. Both these indices outperformed the Sensex.
Most of the sectoral indices on BSE settled higher. The BSE Health Care Index (up 0.50% at 3,698.69), BSE Consumer Durables index (up 1.07% to 4,448.64), BSE Realty index (up 0.77% to 7,520.04), BSE PSU index (up 0.08% to 7,200.09), BSE FMCG Index (up 0.35% at 2,001.21), BSE Metal Index (up 0.17% at 11,598.59), BSE TecK index (up 0.02% to 3,635.58), BSE Auto Index (up 0.05% at 4,876.96) BSE Bankex (up 0.15% at 8,018.42), and BSE IT Index (up 0.44% at 4,646.29) outperformed the Sensex.
However, BSE Capital Goods Index (down 0.48% at 13,566.71) and BSE Oil and Gas Index (down 0.56% at 8,141.59), were underperformers.
Turnover on BSE spiked today to Rs 5,167.23 crore as compared to Rs 4207 crore on Tuesday, 4 September 2007. NSE’s F&O turnover was Rs 42642.91 crore as compared to Rs 39013.75 crore on Tuesday, 4 September 2007.
From 30-member Sensex pack, 18 slipped while the rest gained.
India’s third largest pharma company by sales, Cipla gained 2.17% to Rs 183.50 on 9.27 lakh shares. It was the top gainer from Sensex pack.
Ambuja Cements, India’s third-largest cement maker, gained 1.98% to Rs 138.80 after the company said during trading hours on Wednesday, 5 September 2007, its cement shipments rose 3% to 1.15 million tonnes in August 2007 over August 2006.
India’s largest power generation company by sales NTPC advanced 1.74% to Rs 184.50. The stock hit an all-time high of Rs 188.60. As per reports, NTPC is looking at the possibility of acquiring Karnataka-based public sector firm Tungabhadra Steel Products (TSPL). TSPL is a supplier of hydraulic gates, radial and vertical gates for hydel power plants, equipment for sponge iron and thermal power plants, and even oil rigs.
ICICI Bank (up 1.45% to Rs 917.25) and Grasim (up 1.06% to Rs 3055) were the other gainers from the Sensex pack.
IT pivotals gained on fresh buying. Wipro (up 1.08% to Rs 471), Infosys (up 0.20% to Rs 1892.30) and TCS (up 0.87% to Rs 1075) rose
However India’s fourth largest software company by net profit, Satyam Computers slipped 0.72% to Rs 446 on high volumes of 14.26 lakh shares after a block deal of 11.61 lakh shares was struck on the counter on BSE at Rs 453.30 by 09:58 IST.
The rupee was hovering at 40.94, slightly firmer than Tuesday (4 September 2007)’s close of 40.97/98.
India’s largest private sector entity and oil refiner Reliance Industries (RIL) slipped form an all-time high of Rs 1999.30 struck earlier during the day. It shed 1.28% to Rs 1946.20 on 6.56 lakh shares. CPI (M) on Tuesday, 4 September 2007, joined the row over pricing of gas to be produced from RIL’s Krishna Godavari basin, asking the government to reject what it feels is an artificially inflated price proposed by the company.
RIL said after market closed on Tuesday, 4 September 2007, it had acquired a majority stake in Gulf Africa Petroleum Corp for an undisclosed sum.
India’s top small car maker in terms of net profit Maruti Udyog slipped 2.68% to Rs 869.95 after it hinted that it may continue to offer discounts on its car models to boost sales in the upcoming festive season. It was the top loser from the Sensex pack.
Ranbaxy Laboratories (down 2.09% to Rs 398.20), and ACC (down 2.05% to Rs 1075.10) were the other losers from the Sensex pack.
India’s largest listed cellular services provider in terms of profit, Bharti Airtel slipped 1.51% to Rs 846.40. As per reports, in the Karnataka circle, Bharti Airtel cannot acquire any operator as it already has a 39.7% market share. The 40% market share cap suggested by the Telecom Regulatory Authority of India (Trai) is likely to make mergers between existing telecom operators extremely tough.
Larsen & Toubro (L&T), India’s largest private sector engineering company in terms of sales lost 1.82% to Rs 2575.55. It’s ECC division in consortium with Paul Wurth, Italy bagged a Rs 1205 crore order from Bhushan Steel. L&T’s share in this project is pegged at Rs 760.5 crore.
Among side counters, Escorts (up 8.94% to Rs 103), Omnitech Solutions (up 20% to Rs 155.30), and Allied Digital (up 9.58% to Rs 350.10) surged.
SEL Manufacturing (down 17.58% to Rs 147.40), JCT (down 6.90% to Rs 9.99) and Indiabulls Financial Services (down 5.81% to Rs 532.50) slipped
Sugar shares surged on renewed buying. Dwarikesh Sugar (up 2.50% to Rs 55.40), Sakthi Sugar (up 2.99% to Rs 75.75), Triveni Engineering (up 5.09% to Rs 81.55), Balrampur Chini Mills (up 2.18% to Rs 60.95), Shree Renuka Sugars (up 1.10% to Rs 528.90), and Bajaj Hindustan (up 0.75% to Rs 135.05) advanced.
Everonn Systems (Rs 86.77 crore), Reliance Industries (Rs 129.19 crore), Lakshmi Machine Works (Rs 125.48 crore), Take Solutions (Rs 124.66 crore), and Reliance Energy (Rs 117.57 crore) were among the turnover toppers on BSE.
Akruti Nirman moved up 4.34% to Rs 568 on reports that the company has tied-up with a Dubai-based firm Limitless, a subsidiary of Dubai World, to bid for the project for redevelopment of Asia’s largest slum, Dharavi in Mumbai.
Kernex Microsystem (India) jumped 5% to Rs 342.30 on rumors that it may bag a 6-year long railways contract worth Rs 2,000 crore in joint venture with Konkan Railways.
Ashok Leyland had gained 0.91% to Rs 38.70 on reports that the company is open to acquisitions and alliances in medium and heavy truck sectors.
Shreyas Shipping & Logistics had jumped 14.62% to Rs 103.50 after it bought 51% in Sri Lankan transportation and freight forwarding firm Haytrans (India) for an undisclosed amount.
Saregama India jumped 10% to Rs 275.10 after Sonata Investments acquired 10.58 lakh shares of the company, at Rs 260 per share in a block deal on Tuesday, 4 September 2007 on BSE.
Kirloskar Brothers slipped from a high of Rs 477.70 to settle 1.12% lower at Rs 464.95. Its joint venture firm KBL-PLR bagged a Rs 118.27 crore project from Andhra government’s irrigation department. Of the total value of the contract, Kirloskar’s portion is worth Rs 94.27 crore.
Autoline Industries rose 1.92% to Rs 199. As per reports, it is in advanced talks with a US-based maker of sheet metal-based assembled products with $25 million (Rs102.5 crore) in sales. The firm is also in initial talks with a European sheet metal component supplier which it is interested in acquiring.
Gayatri Projects gained 0.10% to Rs 287.35 on bagging a 3-year long road contract worth Rs 311.89 crore in Orissa.
Cambridge Technology Enterprises rose 1.21% to Rs 50.15 after it said before trading hours on Wednesday, 5 September 2007, its board has approved raising Rs 23.37 crore through the issue of 4.25 million convertible equity warrants at a price of Rs 55 each.
Bombay Burmah Trading Corporation surged 5% at Rs 488.50 on BSE on reports that the company may use its cash reserves to buy Danone’s 25.5% stake in Britannia Industries. As per its latest annual report, it has Rs 608.27 crore in consolidated reserves and surplus.
Hindoostan Spinning & Weaving Mills jumped 5% at Rs 56.10. It had gained 5% yesterday, 4 September 2007 on reports that the firm has sold 8 acres of its defunct mill located near the Siddhivinayak temple at Prabhadevi, Mumbai, for Rs 350 crore to Mumbai-based builder Akruti Nirman.
Gujarat Industries Power Company spurted 8.62% to Rs 69.95. Recently, its board approved expansion of its lignite-fired power generating capacity at an investment of Rs 1300 crore by installing two units of 250 mega watts each.
Exide Industries advanced 4.88% to Rs 64.45. Earlier on 28 August 2007, the company’s board had approved to raise Rs 150 via rights issue in the ratio of 1:15 i.e one rights share for every 15 shares held at Rs 30 per share.
Puravankara Projects was down 1.04% to Rs 371.50. As per reports, it is close to signing a memorandum of understanding (MoU) with France-based hospitality group Accor for the former’s first hotel project in Bangalore.
Pyramid Saimira Theatre (PSTL) was down 4% to Rs 336.90. It hit a high of Rs 361.90 on repots that it is bidding for Hoyts, the largest Australian chain of multiplexes owned by the Kerry Packer group, for around $360 million (Rs 1500 crore).
Jet Airways rose 0.55% to Rs 830, on reports it is delaying a planned $400-million rights issue because of the recent turmoil in the global credit markets.
The government late on Tuesday, 4 September 2007, announced setting up of a 15-member UPA-Left committee which will look into the concerns raised by Left parties on the Indo-US civil nuclear deal. External Affairs Minister Pranab Mukherjee will be the convenor of the committee. The committee will have six members each from Congress and Left parties and one each from UPA constituents RJD, DMK and the NCP.
European markets which opened after the Indian markets, were trading lower. Key benchmark indices in Germany (down 0.80% to 7,660.35), France (down 1.12% to 5,609.40) and United Kingdom (down 0.97% to 6,314.70) slipped.
Asian markets that began trading before the Indian markets, settled on a mixed note. Hong Kong’s Hang Seng (up 0.77% at 24,069.17), Shanghai Composite (up 0.31% to 5,310.76) and Singapore’s Straits Times (up 2.04% at 3,445.08) advanced.
However, Japan’s Nikkei (down 1.60% at 16,158.45), Taiwan Weighted (down 0.10% at 8,913.85), and South Korea’s Seoul Composite (down 0.49% at 1,865.59) slipped.
US stocks advanced yesterday, 4 September 2007. The Dow Jones industrial average rose 91.12 points, or 0.68%, to 13,448.86. Broader stock indicators also advanced. The Standard & Poor’s 500 index added 15.43 points, or 1.05%, to 1,489.42, and the technology-dominated Nasdaq Composite index surged 33.88 points, or 1.30%, to 2,630.24.
Crude oil rose towards $75 today, 5 September 2007, after predictions of more hurricanes in the Atlantic Ocean raised concern over potential oil and gas outages. US crude was up 70 cents at $74.74 while London Brent crude was up 45 cents at $73.86.

Tags: post market