• Sign Up
  • |
  • Sign In Sign Out
  • |
  • Make us your home
  • |
  • RSS
1 2
1 15
1 4
1 9
1 13
1 14
IPO
1 25
1 5015
1 5018
  • OCT STEEL SALES UP 38% AT 4.62 LAKH TONNES VS 3.35 LAKH TONNES (YOY)
  • OCTOBER CRUDE STEEL PRODUCTION UP 22% AT 599,000 TONS (YOY)
  • OCTOBER SAW THE BEST EVER PRODUCTION IN MOST UNITS
  • SMS BOS < space > stock query at 56388
  • CRUDE FALLS 2.6% TO $77.43 BBL
  • COPPER DOWN TO $6490/TON ON WEAK DEMAND AND US UNEMPLOYMENT DATA
  • Email us at buyorsell@ndtv.com
  • Call us at 011-26201171
  • Stock moves on WAP: Logon to mobile.ndtv.com on GPRS browser
  • SMS INDEX to 56388 for live market updates
  • Finance buzz: Logon to mobile.ndtv.com on GPRS browsers
  • Stock updates: SMS STO followed by scrip name to 56388
  • For Kingfisher Airlines flight updates sms KING to 56388
  • CO TO LAUNCH ITS 3 SCREENS MULTIPLEX IN KANPUR
  • DOW JONES UP 0.17%; NASDAQ UP 0.34%; S &P 500 UP 0.25%
  • RCOM LOSES 0.1%, SHEDS 23.5 LAKH SHARES IN OPEN INTEREST
  • IDEA LOSES 5.2%, ADDS 30.6 LAKH SHARES IN OPEN INTEREST
  • ASHOK LEYLAND GAINS 4.9%, ADDS 32.4 LAKH SHARES IN OPEN INTEREST
  • NIFTY CLOSES JUST BELOW 4800 AFTER A GAP UP OPENING
  • STRONG AT $1095/OZ AS SAFETY MEASURE POST RISE IN U.S UNEMPLOYMENT DATA
  • U.S UNEMPLOYMENT DATA AT 26 YEAR HIGH;CRUDE FALLS 2.6% TO $77.43 BBL
  • SMS BOS < SPACE > MF, MUTUAL FUND QUERY AT 56388
  • GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
  • CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
  • NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
  • COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
  • ISSUES REGULATORY FRAMEWORK FOR AUTHORISED PERSONS
  • AUTHORISED PERSONS CAN FACILITATE TRADING THROUGH BROKER TERMINALS
  • STOCK BROKERS TO SEEK SEBI APPROVAL FOR APPOINTING AUTHORISED PERSONS
  • NO PLANS TO OFFER HOME LOANS AT 8%: NW
Updated: 24/11/2008 | 01:42 PM IST
Markets remain weak amid volatility
Capital Market
Monday, November 24, 2008 (Mumbai)
Comments:
Read (0)

After gyrating between the positive and negative territory in early afternoon trade, fresh selling for index pivotals led by banking shares pulled key benchmark indices lower. Volatility was high throughout the day.

After an initial fall caused by anxiety about potential US measures to prop up Citigroup, the market bounced back in morning trade after the US Treasury Department announced that it was investing $27 billion in Citigroup in exchange for preferred shares as one of a series of actions to help the beleaguered bank. The barometer index swung 329.51 between the day's high and low so far in the day.

At 13:25 IST, the BSE 30-share Sensex was down 141.78 points, or 1.59%, to 8,773.43. The Sensex rose 126.81 points at the day's high of 9,042.02 in mid-morning trade. At the day's low of 8,712.51, the Sensex lost 202.70 points in early trade.

The S&P CNX Nifty was down 38.65 points, or 1.43%, to 2,654.80

The market breadth, indicating the overall health of the market, was negative. On BSE, 1310 shares declined as compared with 921 that advanced. 79 shares remained unchanged.

The total turnover on the BSE amounted to Rs 1846 crore by 13:30 IST as compared to Rs 1433 crore by 12:30 IST

Among the 30-member Sensex pack, 22 declined while the rest gained. DLF (down 5.60% to Rs 187.10), Satyam Computer Services (down 3.97% to Rs 231.30), and Tata Steel (down 3.28% to Rs 154.80), edged lower from the Sensex pack.

Infosys (up 0.61% to Rs 1192), ACC (up 0.95% to Rs 403.25), and Bharti Airtel (up 0.15% to Rs 619.90), edged higher from the Sensex pack.

Banking shares tripped as the $306 billion rescue plan for the number two US bank Citigroup was seen unlikely to ease all concerns about the broader financial sector and as concerns over the global economy remained.

India's largest private sector bank by net profit ICICI Bank lost 5.48% to Rs 317.15 despite a 15.53% surge in its American depository reciept (ADR) on Friday, 21 November 2008.

State Bank of India (down 4.94% to Rs 1124.70), and HDFC Bank (down 3.10% to Rs 830.25), also succumbed to selling pressure. The Bankex lost 3.78% to 4,425.06 and was the top loser from the BSE sectoral indices.

India's largest copper maker by sales Sterlite Industries extended early losses and was now down 6.97% to Rs 203.50 on reports it expects a 4 lakh tonne a year capacity copper smelter in south India to be shut for about a month following a breakdown. It was the top loser from the Sensex pack.

India's largest private sector company by market capitalization and oil refiner Reliance Industries (RIL) lost 1.94% to Rs 1105.40 in choppy trade on concerns a global slowdown would hit demand for petrochemicals. The stock swung between a high and low of Rs 1146.80 and Rs 1095 respectively so far in the day. The stock lost 19.30% in a month to Rs 1127.35 on 21 November 2008 from Rs 1315.55 on 22 October 2008

India's top oil exploration firm by market capitalisation Oil & Natural Gas Corporation (ONGC) slipped 0.67% to Rs 685.40 on profit booking after surging 6.10% on Friday, 21 November 2008 as the company along with its partners bagged 20 out of the 44 blocks that have been awarded under the seventh round of the New Exploration Licensing Policy (NELP-VII).

India's largest software services exporter TCS jumped 3.25% to Rs 523.80 and was the top gainer from the Sensex pack. The company is reportedly ramping its e-governance business nationally. The e-governance business is projected to generate double-digit revenues for the software firm by the year 2010-11.

India's second largest private sector power generation firm by sales Reliance Infrastructure rose 2.35% to Rs 496 on reports the company is scouting for coal assets in Indonesia after the share prices of major mines there witnessed steep erosion following the global financial turmoil.

Dabur India was down 0.13% to Rs 74.40 after the company acquired 72.15% stake in skin care products firm Fem Care Pharma for Rs 203.7 crore in an all cash deal. The latter rose 2.59% to Rs 676.25. The company made this announcement after trading hours on Friday, 21 November 2008.

EID Parry India surged 3.23% to Rs 144 on acquisition of a 48% stake in a US nutraceuticals company Valensa International. The company made this announcement after trading hours on Friday, 21 November 2008.

Super Tannery India advanced 4.35% to Rs 9.60 after setting 8 December 2008 as record date for a liberal 1:1 bonus issue. The company fixed the record date during trading hours today, 24 November 2008.

IVRCL Infrastructure & Projects rose 2.47% to Rs 135 on bagging orders worth Rs 529.79 crore. The company announced the order win during trading hours today, 24 November 2008.

US light crude for January 2009 delivery rose 67 cents to $50.60 today, 24 November 2008 as hopes the Organization of the Petroleum Exporting Countries (OPEC) might cut output again as early as this week helped buoy prices. The contract settled 51 cents higher at $49.93 a barrel on Friday, 21 November 2008 after dipping to a 3- year low of $48.25.

Asian markets were trading lower today, 24 November 2008. Key benchmark indices in China, Hong Kong, Singapore, South Korea, and Taiwan were down by between 0.25% and 3.35%. Japanese markets were closed today, 24 November 2008 for a public holiday.

US stocks rallied on Friday, 21 November 2008 as investors welcomed reports that President-elect Barack Obama unveiled his plan to combat the US economic crisis, instilling confidence about the administration's ability to take action. He also nominated a new treasury secretary Timothy Geithner, who has been closely involved in the rescue of Bear Stearns and AIG. The Dow Jones industrial average jumped 494.13 points, or 6.54%, to 8,046.42. The Standard & Poor's 500 Index shot up 47.59 points, or 6.32%, at 800.03. The Nasdaq Composite Index climbed 68.23 points, or 5.18%, to 1,384.35.

Comments:
Read (0)
Comments
 
Market Watch
         
Graphs
Stocks

                                Moremore
Stock Dashboard
Trading Calls
Ashuu Kakkarr
Ashuu Kakkarr
0.48% status
Current: Rs 848.75
Stock Recos
The stock may touch Rs 120 in 6-8 months
The investors can hold the stock for the medium term with a stoploss of Rs 45
Buy or Sell
Today's Analyst: Shruti Vora
Query : Hitesh Sarkar, an investor from Surat, has 500 Wockhardt at Rs 194/share.