Markets today opened on a weak note on the cue of weak global economy. But the markets slowly gained an upward movement in the second part of the day with IT stocks leading all the major indices to a positive note.
Sensex ended up 87 points at 17509 and Nifty up 23 points at 5233. CNX Midcap index rose 0.7% and BSE Smallcap index rose 0.9%. Top Nifty gainers were ACC, TCS and Ambuja Cements while losers were Sterlite Industries, Mahindra & Mahindra and Axis Bank.
VK Sharma, Head-Private Broking & Wealth, HDFC Securities said, “We might see rangebound movement between 5150-5300. Technology stocks which supported the market are expected to lead from the front. One should hold positions unless we breach the 5150 support”.
Market Today Headline Animator
Wednesday, January 13, 2010
Tuesday, January 12, 2010
Markets shed points despite positive Infosys results
Sensex today shed 120 points to close weak at 17406.71 and Nifty was down 44.05 points at 5205.35. CNX Midcap index fell 0.64% and BSE Smallcap index was down 1.14%. Market was weak despite good IIP data and positive third quarterly Infosys numbers today, primarily due to profit booking across the globe.
Stocks of IT companies, particularly Wipro, TCS and Infosys were top gainers at Nifty. Top losers were Idea, DLF and Reliance Communications.
Stocks of IT companies, particularly Wipro, TCS and Infosys were top gainers at Nifty. Top losers were Idea, DLF and Reliance Communications.
Thursday, January 7, 2010
Sensex ended its four days upward trend
Taking cues from weak global markets, benchmark Sensex witnessed consolidations. Profit booking was seen in banking & financial, capital goods, technology, auto, pharma and realty stocks.
BSE Sensex ended down by 85.41 points at 17,615.72 and NSE Nifty settled at 5263.10 after falling 18.70 points.
While BSE Midcap Index ended flat, BSE Smallcap Index continued its upward trend for the 10th consecutive day.
The benchmark Sensex snapped a four day winning streak led by profit booking in banking & financial, capital goods, technology, auto, pharma and realty stocks. Weak global cues also weighed on the markets. However, buying was seen in oil & gas exploration, select telecom, metal and power stocks which limited the losses to some extent.
Shares of GMDC (Gujarat Mineral Development Corporation) was today the major gainer and it rose 10.22% to Rs. 167.15. Following the news that government is planning a stake sale in the company, Hindustan Copper’s share price surged 10% to Rs. 316.30.
Other major gainers were Aban Offshore, Bhushan Steel and Jaiprakash Hydro-Power.
BSE Sensex ended down by 85.41 points at 17,615.72 and NSE Nifty settled at 5263.10 after falling 18.70 points.
While BSE Midcap Index ended flat, BSE Smallcap Index continued its upward trend for the 10th consecutive day.
The benchmark Sensex snapped a four day winning streak led by profit booking in banking & financial, capital goods, technology, auto, pharma and realty stocks. Weak global cues also weighed on the markets. However, buying was seen in oil & gas exploration, select telecom, metal and power stocks which limited the losses to some extent.
Shares of GMDC (Gujarat Mineral Development Corporation) was today the major gainer and it rose 10.22% to Rs. 167.15. Following the news that government is planning a stake sale in the company, Hindustan Copper’s share price surged 10% to Rs. 316.30.
Other major gainers were Aban Offshore, Bhushan Steel and Jaiprakash Hydro-Power.
Wednesday, January 6, 2010
Markets ended flat yesterday
After witnessing an upward bound trend over the last few days, markets today ended flat due to profit booking on part of investors. While the Nifty managed to cross the much-awaited 5,300 milestone during the early hours, profit booking in IT, Telecom and some metal stocks resulted in Nifty ending flat.
The BSE Sensex closed 15 points higher 17,701 after reaching a high of 17,790 and a low of 17,636. Nifty closed flat at 5,282. Pharma, Realty and Oil & Gas stocks, Tea and Sugar stocks witnesses some gains.
The BSE Sensex closed 15 points higher 17,701 after reaching a high of 17,790 and a low of 17,636. Nifty closed flat at 5,282. Pharma, Realty and Oil & Gas stocks, Tea and Sugar stocks witnesses some gains.
Monday, January 4, 2010
Gold futures to thread higher this week
India’s gold futures are expected to tread higher this week and may reach the Rs.17,000 mark again. A weak dollar overseas has enhanced the appeal of dollar as an alternative investment.
According to Harish Galipelli, Head of Research in JRG Wealth Management,
"After a brief correction, market is likely to resume its upward trend due to possible weakness in dollar and strong investment demand." Gold prices reached a record high at Rs.18,364 on December 3 last year.
According to Harish Galipelli, Head of Research in JRG Wealth Management,
"After a brief correction, market is likely to resume its upward trend due to possible weakness in dollar and strong investment demand." Gold prices reached a record high at Rs.18,364 on December 3 last year.
Investor to take a selective approach in 2010
Stock markets performed well during 2008-09 period. Investors are now expected to take a more selective approach while investing this year. Given the limited scope for appreciation in shares this year, few brokers feel that it would be more appropriate to look for high dividend yielding stocks.
Calculated as annual dividend per share divided by current market price, dividend yield is used to measure the return an investor receives on his investment relative to the stock price.
According to Centrum Broking MD Devesh Kumar, “A company can potentially be a good investment bet if it is growth-oriented and offers dividend yield of 5-7%. One has to see how much cash flows it would be able to generate from its operations on which depends the quantum of dividend and dividend yield.”
Ambareesh Baliga, VP of Karvy Stock Broking said, “After the bullish trend in 2009, the mood will remain cautiously optimistic in the current year. If there is any correction in the market, investors would like to sit on cash or take exposure to debt rather than investing in equities”.
Calculated as annual dividend per share divided by current market price, dividend yield is used to measure the return an investor receives on his investment relative to the stock price.
According to Centrum Broking MD Devesh Kumar, “A company can potentially be a good investment bet if it is growth-oriented and offers dividend yield of 5-7%. One has to see how much cash flows it would be able to generate from its operations on which depends the quantum of dividend and dividend yield.”
Ambareesh Baliga, VP of Karvy Stock Broking said, “After the bullish trend in 2009, the mood will remain cautiously optimistic in the current year. If there is any correction in the market, investors would like to sit on cash or take exposure to debt rather than investing in equities”.
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