Bankex makes the most of market rally

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MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 25/03/2008 | 12:00 AM IST

Banking

Capital Market

Tuesday, March 25, 2008 (New Delhi)

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The BSE Sensex was up 543.88 points or 3.55% to 15,832.78 on easing credit worries in United States following JP Morgan Chase and Co's improved offer to buy Bear Stearns.

All sectoral indices on BSE advanced. The BSE Consumer Durables index (up 3.76% to 3,623.69), the BSE Power (up 3.90% to 3,078.44), the BSE Metal index (up 4.22% to 13,327.18), the BSE Realty index (up 4.42% at 7,106.81), the BSE Oil and Gas index (up 3.08% to 10,030.26), and the BSE IT index (up 4.67% to 3,581.80), outperformed the Sensex.

The BSE Auto (up 1.89% at 4,487.51), the BSE Health Care index (up 1.83% at 3,746.29), the BSE Capital Goods index (up 3.45% at 13,682.39), The BSE TecK index (up 4.46% to 3,051.43), the BSE PSU index (up 2.89% to 7,416.27), the BSE FMCG index (up 1.25% at 2,207.35), underperformed the Sensex.

The BSE Bankex had underperformed the market over the past one month till 24 March 2008, declining 23.70% compared to the Sensex’s fall of 11.87%. It had also underperformed the market in the past one quarter, declining 30.24% compared to Sensex’s decline of 22.99%.

ICICI Bank (up 6.02% to Rs 854), State Bank of India (up 4% to Rs 1712), Axis Bank (up 10.10% to Rs 790.20), and HDFC Bank (up 3.56% to Rs 1385), were the key gainers from BSE Bankex.