IT Stocks Hit As Hard As Rupees A Year Against The Dollar

Key benchmark was flat after moving between positive and negative ground in early trading volatile. The barometer index BSE Sensex has remained virtually unchanged for the day at 17,067,73, up about 30 points down and out the day, nearly 60 points higher the day. The size of the market was very strong. Index heavyweight Reliance Industries (RIL) fell slightly in early trading. Shares of software acquired in positive economic data in the U.S. and a weak rupee.

The market fell into the red shortly after a positive opening. The market once again regained the positive zone. Compared with the gains in the market shortly after.

Data for the second quarter of September 2011 companies withholding tax payment due on September 15, 2011 may provide signals for Q2 September 2011 results.

21:28 IST, the BSE Sensex was almost the same day at 17,067.73. The index rose 60.84 points the day’s highest 17,125.84 in early trade. The index fell 30.61 points to 17,034.39 in early trading day low.

S & P CNX Nifty was the day almost unchanged at 5,125.35. Nifty hit a low peak of 5,140.70 5,098.25 and intraday trading.

The size of the market, indicating the overall health of the market were strong. On BSE, 749 shares rose and 246 shares declined. A total of 31 shares remained unchanged.

The 30-share Sensex pack, 19 received while the rest of them fell. DLF, Sterlite Industries, Bhel, and rose 1.2% to 1.37%. Jindal Steel & Power, Bharti Airtel and Larsen & Toubro fell between 0.97% and 1.3%.

Index heavyweight Reliance Industries (RIL) fell 0.44% to take profit. Europe’s second largest oil company BP Plc, last month acquired a 30% stake in 21 oil and gas blocks in the RIL is India. RIL, BP will pay a total of $ 7.2 billion decision to apply adjustments to the acquired interests in 21 production sharing agreements, the company said in a joint statement at the end of last month. In addition, performance payments up to $ 1.8 billion would be paid based on successful exploration, which leads to the development of commercial discoveries, the two companies said.

The largest Indian bank, the branch network and the net result of the State Bank of India (SBI) was 0.33%. The government is reportedly likely to take a call from SBI by infusing capital in a couple of weeks. Under the proposal, the SBI invited Rs 20 000 crore to fund its growth plans for the next two years.

Jaiprakash Associates fell 2.17% after the company denied reports that it is in talks to sell up to 26% stake in the cement for a strategic partner. The company issued a clarification after market hours Wednesday, September 7, 2011. Jaiprakash Associates stock had increased by almost 8% on Wednesday, 7 In September 2011, the company has the buzz, the company is talking of rope in strategic partner for the cement business.

Software stocks were positive economic data in the U.S. and a weaker rupee. The United States has the largest market for Indian IT companies. India, Wipro’s third largest exporter of software services companies was 0.76%.

India’s second largest software services exporter Infosys gained 0.82%. The CEO of Infosys said last month that economic concerns in the United States and Europe was to delay decisions, and customers can not use all their IT budgets this year.

India’s largest software services exporter TCS was flat. TCS earlier this week, said Westpac has chosen TCS BANCS Insurance and financial support to improve and transform the life insurance software platform to drive growth in New Zealand.

The weak rupiah also supported stocks. Rupee fell to 1-year low against the dollar today, September 8, 2011. 9:09 pm IST, partially convertible rupee was 46.225/230 and the dollar after hitting 46.2550 – Level Last September 16, 2010. Rupee low-income increase by IT companies rupee conditions as the area receives the lion’s share of export revenues received.

Foreign institutional investors (IIE) bought shares worth Rs 262.43 million rupees, Wednesday, September 7, 2011, according to preliminary data of the award. FIIs bought shares worth a net Rs 2972.63 crore for six days from August 29, 2011 to September 7, 2011, according to the bag.

The government took a step closer to a revision of the old laws of land acquisition on Wednesday introduced a long-delayed bill to Parliament which aims to attract investment in infrastructure, while compensating farmers and landowners. The current parliamentary session ends Friday, September 9, 2011 and the bill is unlikely to be approved by Parliament resumes later this year. The expropriation of land for the public good is a controversial issue as India is full of industrialization, with large factories, housing and transport projects identified by land disputes.

On the macro front, the government to disclose information on some indices of wholesale prices, ie. food price index, the index of primary articles, and the index of fuel prices for the year through August 27, 2011 Today, September 8, 2011. Reserve Bank of India (RBI) said that the change in the anti-inflation monetary policy is motivated by evidence of a sustainable reduction in inflation.

About September 12, 2011, industrial production in July 2011 and September 14, 2011, consumer price inflation in August 2011 to give clues on the likely central bank along the lines of his mid-quarter monetary policy review September 16, 2011.

Moody’s Investors Services confirmed its rating of Baa3 foreign currency debt rating of India and the Ba1 local currency debt annual credit analysis published this week. Votes for the company given the positive outlook for bonds denominated in Indian rupees, saying it is considering a rating of Baa3 uniform for all bonds if India is to improve the fiscal position and its commitment to strengthen the market inside. Currency debt outlook is stable NRI online trading account .

The report was optimistic about India’s ability to withstand a global economic slowdown. Although it is not immune to a slowdown in international growth, strong domestic demand and economic diversity provides protection against a downturn in the areas of overall risk, the report said. He noted that India’s foreign exchange reserves equal to four times its external debt.

A debt to GDP ratio of 71% is a concern that the interest on this debt eats 25% of revenues from India every year. But Moody expects continued growth of GDP and further fiscal consolidation efforts will continue to reduce the public debt / GDP, the report said.

Services sector in India has increased its slow rate of more than two years in August 2011, and strangled by a weak expansion of new business in the world’s faltering economy and tense domestic monetary conditions are weighed, the research showed on Monday September 5, 2011. HSBC Markit index business, which is based on a questionnaire of about 400 companies, slumped in July 58.2 53.8 August, the index’s largest one-month decline since January 2009. It was also the weakest growth since June 2009, but the index remained above the 50 mark that separates contraction in growth for 28 consecutive months.

The new business sub-index fell to its lowest level in three months in August to 54.9 from 59.3 in July, as the global economic situation sinks hit orders. Expectations of new businesses have also been revised down in August. The survey also showed reduced levels of employment in the services sector for the second consecutive month, the growth of new businesses has decreased while the input costs and output prices continued to march ahead PAN Card for NRI .

Manufacturing activity in India in August 2011 slowed to a minimum of 29 months as exports took a beating amid the uncertainties that persist in the global economic environment, according to a poll released last week. The total seasonally adjusted purchasing managers HSBC, prepared by Markit, fell to 52.6 in August from 53.6 in July. The rate of flow of new orders fell in August to the slowest in 29 months, export orders fell at their fastest pace since the series began, HSBC said.

Arrears production fell for the first time since March 2010 working pressures subsided. In addition, inflationary pressures have increased both the input and output prices rose.

Exports increased by 81.79% to $ 29.3 billion, while imports rose 51.5% to 40.4 billion in July 2011 in July 2010, leaving a trade deficit of $ 11 billion, data showed last week.

Asian stocks were mixed Thursday, September 8, 2011, before important political statements due by the United States and Europe. The key benchmark index in Taiwan, Japan and Indonesia increased from 0.08% to 0.29%. The key benchmark indices in China, South Korea, Hong Kong and Singapore were down 0.03% to 0.77%.

The Bank of Korea offered an increase in borrowing costs today, amid the increasing risks that the position of the global recovery.

The European Central Bank (ECB) should maintain its benchmark interest rate unchanged at 1.5% monthly interest rate to be held today, September 8, 2011. During today’s policy meeting, the Bank of England (BOE) Monetary Policy Committee should also keep its key benchmark interest rate is 0.5%, thirty-first consecutive month at a pace well.

U.S. trade in index futures indicated that the Dow could fall 40 points at the opening bell on Thursday, September 8, 2011.

The Federal Reserve Ben Bernanke is due to speak Thursday, September 8, 2011, the outlook for the U.S. economy and the possibility for other quantitative easing, his last speech before the scheduled Federal Open Market Committee meeting two days on 20 and 21 September 2011. Bernanke August 26, 2011 waived if the Federal Reserve will immediately introduce new measures to support the U.S. economy, arguing instead that the options would be discussed at the meeting of the Fed in September 2011.

Stock markets had a solid performance, Wednesday, September 7, 2011, after a German court ruled in favor of the project in the euro area rescues, Beige Book Federal Reserve said the U.S. economy still growing, and details appeared on the U.S. president of job creation proposals will be announced later Thursday, September 8, 2011 NRI Demat account .

In a speech before a joint session of Congress Thursday night, plans US President Barack Obama to propose to increase employment by injecting over 300 billion dollars into the economy next year, mainly through of tax breaks, infrastructure spending and aid to state governments and local levels.



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